Bloomberg Amazon.com Inc’s valuation briefly topped $1 trillion after its results beat expectations, with analysts applauding the popularity of the e-commerce giant’s one-day shipping initiative and the performance of its cloud-computing business. Shares surged as much as 9.9% in their biggest intraday gain since 2017 before paring back gains to trade below the $1 trillion threshold. The stock hit a …

Bloomberg Bankrupt retailer Forever 21 Inc asked a bankruptcy court to approve plans to sell “substantially all” of its assets to a buyer who might keep the chain in business. Forever 21 is in “substantial, round-the-clock negotiations” with a potential stalking-horse bidder, which would set a minimum price for the fashion chain while it continues to seek bids for alternative …

Bloomberg In Moscow, online orders delivered in just 15 minutes by bicycle signal what the future of shopping may hold. Russia’s largest technology company, Yandex NV, is getting groceries to Moscow homes within a quarter of an hour, free of charge. Its new online service, called Lavka, has spread small warehouses across the capital stocked with about 2,000 items and …

Bloomberg Cosmetics maker Kose Corp slashed its full-year profit outlook by 19%, citing a decline in tourists to Japan because of the novel coronavirus outbreak in China. The Tokyo-based company also cited a stronger yen and a consumption tax hike in October as reasons for the expected decline in its financial performance. Kose cut its net income projection to 30 …

Bloomberg The Arab League should adopt a united stance towards US President Donald Trump’s Mideast plan, which is unlikely to achieve peace and stability for Palestine and Israel, its Secretary General Ahmed Aboul Gheit said. “Today’s meeting is a message that the Palestinians are not alone,” Gheit said on Saturday at the start of an emergency meeting of Arab foreign …

Bloomberg Indian Prime Minister Narendra Modi’s government plans to sell an unprecedented amount of bonds for a second straight year as a slowing economy forces it to sacrifice fiscal discipline. The administration plans to borrow 7.8 trillion rupees ($109 billion) in the year starting from April 1, Finance Minister Nirmala Sitharaman said in her budget speech on Saturday. That’s in …

Bloomberg Chinese regulators unveiled a slew of measures to ensure stability of its $45 trillion financial system as the nation stepped up the fight against the spreading virus. The China Banking and Insurance Regulatory Commission will “suitably extend grace period” for firms that have difficulty meeting end-2020 deadline to comply with new asset management rules, CBIRC vice chairman Cao Yu …

Bloomberg As the flat white trounces black tea, Lipton owner Unilever is weighing a sale of one of its best-known brands. The Anglo-Dutch giant initiated a review of its global tea business, which includes the more than century-old label and generates sales of almost $3.3 billion. The move comes after the company’s slowest quarterly growth in a decade. Unilever is …

Bloomberg Indian officials met with as many as nine companies during roadshows to gauge interest in a stake sale in the nation’s loss-making flag carrier, people with knowledge of the matter said. Officials from the South Asian nation met executives of companies including British Airways parent IAG SA, IndiGo, India’s biggest airline that’s operated by InterGlobe Aviation Ltd, SpiceJet Ltd …

Bloomberg The fast-spreading coronavirus could spell the end for the weakest airlines as travel demand dries up in and out of China. The outbreak, which originated in the Chinese city Wuhan, has claimed 200 lives. Total infections have soared past 11,700 in China, surpassing the country’s official number from the 2003 Sars epidemic. Sars cost the global economy an estimated …