Bloomberg Steinhoff International Holdings NV proposed a $1 billion settlement to resolve more than $8 billion of legal claims lodged against the retailer following the accounting scandal that almost wiped out the company. Claimants would get a combination of cash and shares in Pepkor Holdings Ltd, a clothing retailer controlled by Steinhoff, the company said. Most of the 90 claims …

Bloomberg The race to purchase Brooks Brothers Group Inc out of bankruptcy is on as brand manager WHP Global and a group of Italian companies prepare bids following Authentic Brands Group LLC and Simon Property Group Inc’s $305 million offer. Sparc Group LLC, which is backed by Barneys New York owner Authentic and mall landlord Simon, agreed to make a …

Bloomberg Ryanair Holdings Plc issued a stark assessment of the threat to airlines as they seek to rebound from the coronavirus crisis, saying it’s concerned that a series of local lockdowns followed by a second wave of infection will hold back the recovery from the pandemic. Ryanair kicked off earnings season for European carriers on Monday by posting a loss …

Bloomberg A program with Quest Diagnostics and the Mayo Clinic will “test virtually all employees in the next four weeks,” Delta said in a statement, outlining one of the more ambitious plans in corporate America. The carrier also told employees it would introduce at-home testing in the viral hot spots of Florida and Texas, as well as for workers based …

Bloomberg Taiwan’s equity benchmark broke a record that stood for three decades, helped by the biggest surge in years for the economy’s biggest stock. The Taiex closed 2.3% higher Monday as Taiwan Semiconductor Manufacturing Co. soared the 10% daily limit. The $35 billion addition to its market capitalisation makes TSMC the 12th most valuable stock worldwide, ahead of US retail …

Bloomberg European equities moderately extended last week’s drop, as new virus data suggested setbacks in global efforts to contain coronavirus pandemic, with airlines and other travel-exposed stocks leading declines. The Stoxx Europe 600 Index was down 0.4% as of 8:20 am in London, with most sectors in negative territory. German stocks rose 0.4%, while Spain’s IBEX was the worst-performing large-country …

Bloomberg South Africa’s main stock index gains 0.3% in Johannesburg, as a weaker dollar boosts prices of precious metals, with record bullion prices lifting gold producers to a fresh all time record, and higher platinum prices bolstering local producers. Risk sentiment has been strengthened by optimism over the upcoming US Federal Reserve meeting, which has drowned fears over simmering Sino-American …

Bloomberg The euro area economy is for once set for a sprightlier recovery from crisis than the US, thanks to starkly different responses to the coronavirus. America’s failure to get a grip on the pandemic is putting the brakes on its rebound compared with Europe, where many former virus hot spots managed to resume economic activity without causing a similar …

Sharjah / WAM Sharjah Media City (Shams) a world-class media hub for innovative facilities and services, joined forces with Connected Circles, an Amsterdam-based company which helps retain and attract talents, boost brands reach, and gain trust through transparency, consistency, and relevant content. The joint venture aims to bring knowledge, experience, and business processes from Amsterdam to the Middle East. The …

Ajman / WAM Representatives of the Ajman Chamber of Commerce and Industry and Consulate of Zambia discussed joint economic cooperation and various investment opportunities available to both sides, in a bid to increase the value of trade and promote partnerships between investors from Ajman and Zambia. The chamber was represented at the meeting by Salem Al Suwaidi, Director-General of the …