Bloomberg Kohl’s Corp is slashing its corporate workforce by about 15% in a bid to rein in expenses as retail sales fail to recover to pre-pandemic levels. The chain said the cuts will save it about $65 million a year. It will record a pretax charge of about $23 million, mostly in the third quarter, related to the layoffs and ...

Bloomberg At a funeral last week in the mountains of northern India, one of Prime Minister Narendra Modi’s top aides paid respect to a Tibetan soldier killed on the front lines of deadly clashes with China. Surrounded by troops waving the flags of both India and Tibet, Ram Madhav laid a wreath before the coffin during a ceremony that gave ...

Bloomberg Vietnam is planning for the possible evacuation of as many as 500,000 residents in the country’s central coast region ahead of the expected on Thursday landfall of Storm Noul, the government said in a post on its Facebook page, citing an order from Deputy Premier Trinh Dinh Dung. The storm is forecast to hit a large area, from Quang ...

Bloomberg Boris Johnson has held talks with rebels in the UK’s ruling Conservative Party in an attempt to win their backing for his controversial law rewriting part of the Brexit deal he struck with the European Union last year. The prime minister is facing a revolt from Tories dismayed at his plan to break international law by unilaterally re-writing parts ...

Bloomberg South Africa’s anti-graft ombudsman is investigating how senior members of the ruling African National Congress (ANC) secured passage on a defense force plane to visit Zimbabwe last week. Ace Magashule, the ANC’S secretary-general, led a 10-member delegation to Zimbabwe to discuss what could be done to resolve that country’s economic and political crisis. Opposition parties the Freedom Front Plus ...

Bloomberg Yoshihide Suga, the man who became Japan’s new prime minister on Wednesday, has a reputation as a tough, task-based micro manager rather than a self-styled macroeconomic helmsman like Shinzo Abe. Suga has vowed to stay true to Abenomics, but economists doubt there’s much more monetary pizazz to be squeezed out of the Bank of Japan or any more major ...

Bloomberg Speaker Nancy Pelosi rejected calls from some House Democratic moderates to hold a vote on a new, smaller stimulus bill and doubled down on her push to get the White House to agree to a $2.2 trillion package. The House last moved on coronavirus relief in May — passing the $3.4 trillion Heroes Act that died in the Senate ...

Bloomberg Symptoms that prompted the University of Oxford and partner AstraZeneca Plc to pause trials evaluating their experimental coronavirus vaccine probably weren’t related to the shot itself, according to documents sent to participants. Safety reviews were carried out when participants in the Oxford study developed unexplained neurological symptoms including limb weakness or “changed sensation,” a participant information sheet posted online ...

Bloomberg Bank of England (BOE) officials are expected to lay the groundwork this week for yet more monetary stimulus as optimism over the UK’s economic rebound from the coronavirus pandemic fizzles out. While economists and investors don’t see immediate action, they widely predict the BOE’s bond-buying program will be expanded again before the end of the year. The latest policy ...

Bloomberg Bank of America Corp. (BofA) and JPMorgan Chase & Co. were the winning bidders on $900 million of New York Metropolitan Transportation Authority (MTA) debt to finance subway, bus and commuter-rail capital projects as the transit agency seeks federal aid to avoid major service cutbacks. The sale shows the MTA, the largest mass-transit system in the US, can raise ...