Bloomberg Live Oak Bancshares Inc., the online lender whose headquarters is in flood-ravaged Wilmington, North Carolina, is still operating after it sent employees fanning out across the country ahead of Hurricane Florence. “Everything is in the cloud and our employees, really what they need is an internet connection somewhere,” said Thomas Hill, the bank’s chief information officer. “It was a ...

Bloomberg HSBC Holdings Plc is planning to increase its wealth-management staff in Asia as CEO John Flint bets on growth in the region. The bank plans to add more than 1,300 positions, split roughly between retail and private banking, by 2022, according to the heads of the two divisions, which between them currently employ just over 32,000 people in the ...

Bloomberg The trade war arrived at Sun Y. Park’s doorstep the day a letter from Samsonite International SA was delivered to her Manhattan luggage and leather goods shop. In the letter dated August 13, Samsonite North America President Lynne Berard notified wholesale buyers that a 10 percent price increase is imminent if the US follows through with more tariffs on ...

Bloomberg Walmart has refurbished its Jet.com site to cater even more to the city dwellers who make up the bulk of its shoppers. The e-commerce site, acquired by Walmart in 2016, will now offer images and products tailored to the location and preferences of the visitor, the retailer said. Most New York City residents can schedule three-hour delivery windows for ...

Bloomberg Pandora shares soared in Copenhagen on a report that private equity funds are considering buying the beleaguered Danish jewellery maker. The stock added as much as 11 percent, the most since May 2016, after Italian daily Il Sole 24 Ore said KKR and Bain Capital are among private-equity funds that could be studying a dossier on Pandora. Sole, which ...

Bloomberg For his first collection at Burberry Group Plc, creative director Riccardo Tisci traded star-studded front rows for another sort of hype: the streetwear-inspired “drop.” Tisci opted for an austere presentation in his debut for the British luxury brand, a dramatic change for the former Givenchy designer, whose celebrity clients included Kim Kardashian and Madonna. No A-listers, no parties, just ...

Bloomberg Abu Dhabi is pushing ahead with an initial public offering for Spanish oil company Cia Espanola de Petroleos SAU, in what could be the largest such deal in a decade. The emirate’s Mubadala Investment Co. will offer a stake of at least 25 percent in Cepsa in the fourth quarter, the state-owned investor said on Monday in a statement. ...

Bloomberg The Trump administration will announce that it’s imposing a 10 percent tariff on $200 billion of Chinese goods, which Beijing has already said it will retaliate against, reports said. The rate is less than half of the 25% level the administration had initially been considering. Still, American consumers could start feeling the cost of the tariffs for everyday goods, ...

Bloomberg The Organization of Petroleum Exporting Countries (Opec) needs to keep working with other oil producers to manage global supplies as demand for crude faces ‘headwinds,’ the head of the organisation said. The historic supply deal between Saudi Arabia, Russia and other producers reached in late 2016 needs to become permanent, Mohammad Barkindo, secretary-general of the Opec, said. Oil demand ...

BUCHARES / WAM Ways of accelerating cooperation in the investment and trade sectors were the main topic of discussions at a meeting His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, had with Viorica Dancila, Romanian Prime Minister. The two sides met in the Romanian capital, Bucharest, and discussed boosting ties between the UAE and ...