Bloomberg Forever 21 Inc filed for bankruptcy protection, the latest big fashion merchant who couldn’t cope with high rents and heavy competition as the shift to e-commerce cut a swathe through traditional retailers. Court papers filed in Wilmington, Delaware, show Forever 21 has estimated liabilities on a consolidated basis of between $1 billion and $10 billion. The Chapter 11 filing ...

Bloomberg The risk of a property bubble in the euro zone surged last year as ultra-low interest rates helped drive up house prices. Munich is now the city most vulnerable to a property bubble, according to UBS Group AG’s annual Real Estate Bubble Index. Frankfurt and Paris are increasingly in danger of prices becoming unsustainable, even as some of the ...

Bloomberg US equity-index futures rose while stocks drifted in Europe and declined in Asia as investors struggled to interpret the latest developments in the trade rivalry between the world’s two largest economies. Treasuries and European bonds slipped. Contracts on the three main equity indexes all signalled a firm open in New York, and a dollar gauge inched higher after the ...

Bloomberg India stocks declined as concerns over fresh US-China tensions over investment flows outweighed the festival season tailwind. The S&P BSE Sensex fell 0.4 percent to 3,8667.33 at the 3:30 pm close in Mumbai. The NSE Nifty 50 Index dropped 0.3 percent. Global risks ranging from trade friction to the recent oil shock have the potential to mitigate positive local ...

Bloomberg There’s been a significant change of heart from JPMorgan equity strategists: US stocks are no longer preferred to Euro-area equities. “There is a tactical opportunity opening up for Euro zone to catch up,” strategists led by Mislav Matejka wrote in a note. The 20 percent underperformance of the region’s stocks in dollar terms over the past 18 months, combined ...

Bloomberg China said it would continue to open up its financial markets and encourage foreign investment amid reports the Trump administration is considering restrictions on fund flows to China. “We will take further steps to promote high quality two-way financial opening, encourage foreign financial institutions and funds to invest in domestic financial market, to boost competitiveness and dynamism of the ...

MUKALLA / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC), provided 80 tonnes of food and relief assistance to needy Yemeni families in eastern Mukalla, Hadramaut Governorate, as part of the UAE’s efforts to ease their suffering and improve their living conditions. ERC teams distributed 1,000 food baskets that benefitted 5,000 members of local families. The beneficiaries ...

Bloomberg Saudi Arabia is considering selling a dollar-denominated Islamic bond as early as next month as the kingdom seeks to take advantage of lower borrowing costs, according to reports. The government is close to hiring banks for the possible sukuk sale. A sale would come just weeks after attacks on the kingdom’s oil facilities slashed Saudi Aramco’s crude output by ...

Bloomberg The natural gas boom is killing America’s nuclear industry. Wind and solar may finish the job. While nuclear plants struggle to compete with the flood of cheap gas coming from the nation’s shale fields, they still offer a key advantage, supporters say: They generate 24-hour electricity without producing carbon emissions. Renewables, meanwhile, haven’t yet nailed down the storage capacity ...

Bloomberg South Africa raised prices on gasoline and diesel prices for October, blaming the attack on Saudi Arabia’s crude oil infrastructure for the increase. “Had it not been for the stronger rand during this period, the impact of the attacks on Saudi facilities on prices would have been more severe,” Gwede Mantashe, the minister responsible for mining and energy, said ...