May, 2019

• 22 May

  Marks & Spencer to open big food stores, take on supermakets

  

  Bloomberg Marks & Spencer Group Plc plans to open more large food stores, shifting away from a strategy of expanding smaller convenience outlets as it prepares for an alliance with online grocer Ocado Group Plc. The prospect of another costly store revamp as profit falls weighed on the UK retailer’s shares, which declined as much as 5.4 percent on Wednesday. …

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• 22 May

  Dressbarn clothing chain to close after attempted sale

  

  Bloomberg Ascena Retail Group Inc will start winding down its Dressbarn clothing chain, the latest upheaval in a continued retail shakeout. After trying to find a new owner, Ascena said that it’s preparing to close the approximately 650-store chain. No timeline was given, and stores will remain open until the wind-down commences. Ascena, whose brands have come under pressure as …

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• 22 May

  Ashley’s Sports Direct divests stake in MySale

  Bloomberg Mike Ashley’s Sports Direct International Plc sold its stake in MySale Group Plc after the Australian fashion website withdrew from the UK market, another setback for the billionaire UK retailer. The sports retailer sold its 4.8 percent holding for an undisclosed amount, according to a regulatory filing. MySale shares began selling at $2.91 in June 2014, which would have …

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• 22 May

  Southwest Air mechanics ratify deal after six years of talks

  

  Bloomberg Southwest Airlines Co mechanics approved a new contract that provides pay increases and a retroactive bonus, closing out more than six years of negotiations that included a lawsuit and an alleged worker slowdown. The five-year agreement won 95 percent support from the Aircraft Mechanics Fraternal Association (AMFA), the union said. About 94 percent of eligible voters participated. The approval …

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• 21 May

  Trade tensions derailed global economy: OECD

  

  Bloomberg Trade tensions have derailed the global economy, plunging it onto a low-growth track that’s clouded by risks, according to the Organisation for Economic Co-operation and Development’s (OECD) latest outlook. The report sticks to the gloomy tone long held by the Paris-based organisation, which has warned that trade disruptions could ricochet throughout the world economy. Now that scenario has come …

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• 21 May

  Centrica maintains outlook as customer defections slow

  

  Bloomberg Centrica Plc kept its full-year outlook and said the rate of customers leaving the UK’s biggest energy supplier is slowing. Shares rose the most since September. The utility still sees adjusted operating cash flow for the full year of between 1.8 billion pounds ($1.38 billion) and 2 billion pounds, it said in a trading statement. Centrica lost 234,000 energy …

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• 21 May

  Xinyi Energy raises $465 million in IPO

  Bloomberg Xinyi Energy Holdings Ltd., a Chinese solar farm operator, raised $465 million after pricing its Hong Kong initial public offering near the bottom of a marketed range, people with knowledge of the matter said. The unit of Xinyi Solar Holdings Ltd. sold 1.88 billion shares at HK$1.94 apiece, the people said, asking not to be identified because the information …

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• 21 May

  Singapore lone bright spot in Asia property slump

  

  Bloomberg Commercial property deals in Asia had a poor start to the year, but there was one bright spot: Singapore. Commercial property transactions in the city-state jumped 72% year-on-year to $1.9 billion in the quarter ended on March 31, boosted by deals in the office, retail and industrial sectors, according to a report by New York-based Real Capital Analytics Inc. …

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• 21 May

  Slowdown in US housing helps landlords raise rents

  

  Bloomberg The US housing slowdown is turning out to be a gift to apartment landlords. After all, those people who aren’t buying still need somewhere to live. Data from Zillow shows that home-price appreciation continued to slow in April from a year earlier, driven in part by softening West Coast metros like San Jose and Seattle. The company also reported …

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• 21 May

  US equity futures advance on Huawei reprieve; bonds mixed

  

  Bloomberg US equity futures and European stocks advanced on Tuesday following a mixed session in Asia as the trade-war driven turbulence that has dominated markets this month showed few signs of abating. The dollar strengthened while Treasuries slipped. Contracts on the S&P 500, Dow Jones Industrial Average and Nasdaq 100 indexes all jumped in the wake of the US decision …

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