Bloomberg The world’s wealthiest family moved $48 billion of Walmart Inc stock to a different holding company in an action that may signal future share sales and bolster their philanthropy. Walton Enterprises LLC, the main investment entity of the retailer’s founding clan, transferred about 15% of Walmart’s outstanding shares to the Walton Family Holdings Trust, according to regulatory filings. The …

Bloomberg Henkel AG, the German shampoo maker, and buyout firm KKR & Co are among a small group of suitors proceeding to the second round of bidding for Coty Inc’s professional hair and nail products business, people familiar with the matter said. Advent International and a separate consortium of Cinven weren’t chosen to advance to the next round after they …

VIENNA / WAM The Opec Fund for International Development (Ofid), and the Arab Bank for Economic Development in Africa (Badea), signed a new agreement to strengthen cooperation in common partner countries. During past four decades, the Opec Fund and Badea have collaborated on 240 development operations in sub-Saharan Africa. The two institutions have between them contributed equally to development financing …

Bloomberg European banks will see about 30 billion euros ($34 billion) erased from their net income over the next three years as a result of the fallout from the coronavirus, analysts at Goldman Sachs Group Inc. estimated. The profit erosion, equivalent to 7% of their total, will be driven by increased credit risk, weaker revenue and broadly flat costs, analysts …

Emirates Business Etihad Cargo, the cargo and logistics arm of Etihad Aviation Group, expanded its digital portfolio by launching the first version of its mobile application, offering customers the ability to gain real time access to information on-the-go. Building on the success of Etihad Cargo’s iCargo platform and etihadcargo.com, the optimised mobile app boasts an array of in-built features to …

Bloomberg Goldman Sachs Group Inc asset managers cut borrowing for two energy funds, which saw their top holdings fall by one-third in two days amid “unprecedented” volatility in commodity prices, resulting in a “material impact” on their net asset value. The bank has decided to “effectively eliminate the net leverage” of its MLP Income Opportunities Fund and MLP and Energy …

Bloomberg Foresight Energy LP filed for bankruptcy protection after it was unable to turn a profit on coal mining anymore as power generators switched to cleaner and cheaper fuels. The company, founded by the late billionaire Christopher Cline, is among a wave of US miners to file for Chapter 11 in recent years, including Murray Energy Corp, which owns a …

Bloomberg Stocks climbed globally along with US index futures on Tuesday, recovering some ground after the deepest equity rout since the great financial crisis. Bonds and haven currencies trimmed their exceptional gains from a day earlier and the dollar strengthened. The Stoxx Europe 600 Index jumped alongside contracts on the three main American gauges, though few benchmarks came close to …

Bloomberg European stocks rebounded on Tuesday from their biggest selloff since 2008 on optimism about stimulus measures to counter the impact of the coronavirus. The Stoxx Europe 600 Index rose as much as 3.5%, tracking gains in US futures, after President Donald Trump said he will seek a payroll tax cut and “very substantial relief” for industries hit by the …

Bloomberg The S&P/ASX 200 index erased an early loss and surged out of bear market territory amid hopes for government measures that will offset the economic impact of the spreading coronavirus. Australia’s benchmark index rose 3.1% to close at 5,939.6, its largest gain since November 2016, after having earlier declined as much as 3.9%. The market flirted with a bear …