Bloomberg Costco Wholesale Corp reported quarterly profit that fell short of estimates, and US sales, while still brisk, also slightly missed. The company’s shares fell in late trading. Same-store US sales excluding gas rose 5.2% in the quarter, falling just short of analysts’ projections compiled by Consensus Metrix. Earnings per share were $2.47, below the average estimate of $2.54. Costco …

Bloomberg Barneys New York Inc is in advanced talks with a group of retail industry investors looking to buy the company out of bankruptcy for about $220 million, according to people with knowledge of the situation. The effort is being led by Sam Ben-Avraham, known for his roles in starting New York retail store Atrium and streetwear brand Kith, the …

Bloomberg Bed Bath & Beyond reported a tenth straight quarter of falling sales, but assured investors it’s making progress towards stabilsation and an organisational overhaul. The shares bounced between losses and gains in late trading. Same-store sales, an important measure for retailers, fell 6.7% in the company’s second quarter. That’s more than analysts’ average estimate for a 5.3% decline, according …

Bloomberg Hennes & Mauritz (H&M) AB rose to the highest in almost two years after a popular summer collection helped the Swedish retailer put a dent into its bulging inventory. The stock rose as much as 7.5% after quarterly earnings gained for the first time this year. The third-quarter report was a rare bright spot in the gloomy world of …

Bloomberg PayPal Holdings Inc. pulled out of the Libra Association, a blow to Facebook Inc.’s efforts to develop a digital currency. “PayPal has made the decision to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratise access to financial services for …

Bloomberg Oil registered its biggest weekly decline since July as a streak of disappointing economic data compounded fears about a global recession. The 0.7% rise in New York-traded futures wasn’t enough to correct a 5.5% drop for the week. Rising US payrolls and the lowest unemployment rate in five decades undercut prospects of interest-rate cuts by the Federal Reserve. “The …

Bloomberg Venezuela’s state oil company has briefly cut output in the Orinoco Belt — which accounts for about half of the nation’s total production — to a maximum of 200,000 barrels a day after swelling inventories forced blending plants to shut. Petroleos de Venezuela SA set a production limit at the extra-heavy crude area of the Orinoco, the country’s main …

Bloomberg Mexico’s Finance Minister Arturo Herrera said the country should debate how to exploit its deep-water hydrocarbon riches, in an apparent challenge to President Andres Manuel Lopez Obrador’s decision to suspend the private oil auctions to explore these deposits. “We need to have a profound discussion about what we are going to do with deep water, because in deep water, …

Bloomberg India’s central bank Governor Shaktikanta Das pledged further monetary policy easing if needed after reducing interest rates for a fifth time to boost a flailing economy. The Reserve Bank of India (RBI) lowered its benchmark repurchase rate by 25 basis points to 5.15 percent, in line with the forecasts of a majority of economists surveyed by Bloomberg. Echoing Mario …

Bloomberg Yes Bank Ltd Chief Executive Officer Ravneet Gill said he expects to complete raising as much as $1.2 billion “much sooner than the market expects,” after sales of pledged shares eliminated an overhang on the lender’s stock. Gill reiterated in an interview his target of selling $1 billion to $1.2 billion of new shares to private equity investors, technology …