Bloomberg Pick n Pay Stores Ltd’s next chief executive officer, Pieter Boone, plans to accelerate his predecessor’s eight-year turnaround of the South African grocer by focusing on stores that cater for lower-to-middle income consumers and by boosting online sales. “Pieter speaks of evolution and acceleration, rather than revolution,” David North, Pick n Pay’s executive for strategy, said in an interview. ...

Bloomberg L Brands Inc’s Victoria’s Secret has restarted talks with buyers about a potential sale, and is seeking more than double the $1.1 billion value it had last year in a failed deal, according to people familiar with the matter. After strong recent sales, the company could now target a valuation of at least $2 billion to $3 billion in ...

Bloomberg Interjet shareholders unanimously voted to approve a filing for bankruptcy protection, a move that would enable the Mexican airline to resume payments to employees that have been frozen for several months. Alejandro del Valle, who took a 90% stake in the carrier late last year, led discussions over the filing with former majority owners and founders Miguel Aleman Magnani ...

Bloomberg Myanmar’s military government rebuffed a plan by Southeast Asian leaders to help end violence in the country, saying any “suggestions” would need to fit with the junta’s stated roadmap and come after “stability” is restored. Leaders of the 10-member Association of Southeast Asian Nations, including coup chief Min Aung Hlaing, appeared to reach a five-point “consensus” on Myanmar during ...

Bloomberg A key partner to Finland’s ruling Social Democrats said she is losing faith in the coalition’s credibility, signaling the government of the Nordic region’s only euro member has edged closer to a collapse. The government is bristling over a failure to agree on a common view to the economy and spending measures. Talks went into their seventh day as ...

Bloomberg French far-right leader Marine Le Pen went into damage control mode on Tuesday, after lending support to a group of soldiers and retired generals who penned an open letter to President Emmanuel Macron warning of a risk of “civil war” and the looming disintegration of the country. In an interview on FranceInfo on Tuesday, Le Pen denied the officers ...

Bloomberg Joe Biden’s massive infrastructure and family-support plans are a direct appeal to the discontented White voters who put Donald Trump in office and to independent suburban women, his advisers say, with the president staking a claim on economic issues ahead of the 2022 midterm elections. The so-called American Jobs Plan Biden released last month features spending on traditional infrastructure ...

Bloomberg As India battles the world’s worst virus outbreak, some key political parties are promising an unprecedented monthly payment to all homemakers in a bid to win crucial state elections. If enacted the stipends would be some of the first in the world to specifically address women’s unpaid labour, which economists estimate accounts for up to 39% of global GDP ...

Bloomberg HSBC Holdings Plc posted its best quarter since the pandemic began as an improving economic outlook drove optimism about the ability of borrowers to repay loans and its strategic reset to Asia remained on track. First-quarter profit more than doubled as $400 million of loan loss reserves were released, spurred by the rollout of vaccination programs in markets like ...

Bloomberg Global banks’ losses related to the collapse of Bill Hwang’s Archegos Capital Management topped $10 billion after Nomura Holdings Inc and UBS Group AG disclosed more than $3.7 billion of combined hits from the collapse of the US family office. The Japanese bank booked about 245.7 billion yen ($2.3 billion) of losses in the three months ended March 31, ...