Bloomberg Seven & i Holdings Co, the world’s largest convenience store operator, is betting $21 billion on the future of quick-stop shopping in the US, reviving a once-abandoned deal to make sure the target didn’t fall into the hands of a competitor. The global operator of the 7-Eleven franchise agreed to buy Marathon Petroleum Corp’s gas-station business, adding 3,900 Speedway ...

Bloomberg Japan Airlines Co posted its biggest quarterly net loss in at least eight years and decided to forgo paying an interim dividend as it contends with the devastating impact of the coronavirus. The carrier’s first-quarter loss was 93.7 billion yen ($89 million), the most since it re-listed on the Tokyo stock exchange in 2012 after emerging from bankruptcy. Since ...

Bloomberg Wizz Air Holdings Plc will accelerate the rate of new-plane deliveries from Airbus SE, taking advantage of deferrals from other customers to feed its own expansion. The Hungarian low-cost airline will receive about 30 A321neo jets in 2021, five more than previously planned, Chief Executive Officer Jozsef Varadi said in an interview. Talks with Airbus included commercial arrangements, he ...

Bloomberg A group led by China Resources Capital Management Ltd is close to buying a majority stake in City’super, valuing the high-end Hong Kong supermarket chain at almost $300 million, people with knowledge of the matter said. CR Capital, the alternative investments arm of state-owned conglomerate China Resources Holdings Co, and its co-investors plan to acquire 65% of City Super ...

Bloomberg Shoprite Holdings Ltd’s second-half sales climbed as it gained market share, even as the main lower-income customers of Africa’s largest food retailer battle with the impact of an economic slowdown. Sales in its core South African business rose 9.4% in the last three months of the fiscal year through June, the Cape Town-based supermarket operator said. Still, the grocer ...

Bloomberg Under Armour Inc managed to reach more customers than expected last quarter, even with most of its stores closed — but the road ahead is looking bumpy. The athletic-goods maker’s second-half revenue is likely to fall 20% to 25%, with its recently improved gross margin coming under new pressure, executives warned on a call with analysts. The volatile stock ...

Bloomberg HSBC Holdings Plc is speeding up the shakeup of its global business after warning that the economic fallout from the coronavirus pandemic may trigger loan losses of as much as $13 billion this year. The Asia-focused lender missed estimates after reporting first-half profit that halved to $5.6 billion because of higher credit provisions. The bank said it is looking ...

Bloomberg Bank of England (BOE) policy makers are set to keep delivering ultra-loose monetary policy even as they disagree over the pace of economic recovery from coronavirus-triggered recession. While officials led by Governor Andrew Bailey have different takes on how the economy is emerging from the pandemic shock, the next policy decision on Thursday is expected to leave interest rates ...

Bloomberg Goldman Sachs Group Inc. and Bank of America Corp. (BofA) were left off Ant Group’s upcoming stock sale in Hong Kong because of their past work with rivals of its affiliate Alibaba. Bankers have been told by senior executives at Alibaba Group Holding, which owns a third of Ant, that they should refrain from doing deals for its competitors if ...

Bloomberg Societe Generale SA swung to a surprise $1.5 billion loss because of charges at its trading unit, extending a losing streak that’s set to increase pressure on Chief Executive Officer Frederic Oudea. The French lender posted almost 1.33 billion euros in one-off costs following a review of the global markets and investor services business, including a 684 million-euro writedown. ...