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  Bloomberg Reliance Industries Ltd agreed to buy Metro AG’s Indian unit for 28.5 billion rupees ($344 million) as the nation’s biggest retailer run by billionaire Mukesh Ambani further expands his footprint. Metro will see a transaction gain of about €150 million at closing, and higher earnings per share are anticipated, the company said in a statement. The transaction with …

  Bloomberg Under Armour Inc picked Marriott International Inc’s Stephanie Linnartz to be the sportswear company’s new chief executive officer. She’ll be tasked with reigniting growth. Linnartz, a 25-year veteran of Marriott who currently serves as the hotel chain’s president, will take over at Under Armour on February 27, according to a statement. She will succeed Patrik Frisk, who stepped …

  Bloomberg FedEx Corp reported fiscal second-quarter earnings that beat analysts’ estimates, lifted by price increases and cost cuts that helped make up for a decline in package volume. Shares of the delivery giant rose after the company announced an additional $1 billion of projected savings in fiscal 2023, bringing the total to about $3.7 billion. Earnings totalled $3.18 a …

  Bloomberg Italy cleared the way for the sale of a minority stake in ITA Airways, a key step in ending months of uncertainty over the government’s plans for the successor to bankrupt Alitalia SpA. Rome approved a decree aimed at speeding up the sale procedure for ITA, according to a government official. That could open the way for Deutsche …

  Bloomberg Amazon.com Inc risks violating French luxury shoe designer Christian Louboutin’s European trademark rights by failing to make it clear to buyers when products are being offered by third-party sellers. The European Union’s top court said that Amazon may be confusing people by failing to make a distinction between Louboutin and non-official sellers of the brand’s famous red-soled shoes. …

  Bloomberg The Bank of Japan (BOJ) responded to market pressure this week by unexpectedly increasing its band for the 10-year bond yield. The new ceiling is already coming under threat. The benchmark yield jumped to as high as 0.48%, the day after the BOJ doubled the top of its allowable range to 0.5%. Similar-maturity swap rates have increased to …

  Bloomberg Nigeria is seeking lawmakers’ approval to take on an additional loan from the central bank that would increase the government’s obligation to $52 billion, putting further pressure on public finances. The administration also asked that senators allow for the restructuring of the so-called ways and means borrowing from the Central Bank of Nigeria, converting the debt to 40-year …

  Bloomberg Indonesia’s central bank slowed the pace of its monetary tightening, in a move seen to support growth as inflationary pressures ease. Bank Indonesia (BI) opted to raise the key rate by a quarter-point to 5.5%, marking a shift to “more measured” moves after three successive half-point actions to tame inflation. As the outlook for the global economy deteriorates …

Bloomberg European Central Bank (ECB) Vice President Luis de Guindos said interest-rate hikes like half-point move seen at this month’s meeting may become the standard as officials maintain their fight with soaring inflation. Despite forecasts for a winter recession in the 19-nation euro zone, monetary-policy tightening must continue, Guindos told France’s Le Monde in an interview published on the ECB’s …

  Bloomberg A former senior trader at Credit Agricole in New York sued the bank alleging he was subject to “stereotypically offensive, overtly racist, and degrading comments” as a Latinx person and denied career advancement and monetary rewards. Jose Ruiz, onetime head of emerging-markets foreign-exchange trading at Credit Agricole, filed suit in federal court in Manhattan. The complaint named as …