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  Bloomberg British clothing and housewares chain Next Plc is in talks to acquire a minority stake in troubled retailer Joules Group Plc for about £15 million ($18.1 million). The potential investment will be made “at no less than” its current market price, Joules said in a statement responding to a report it was looking to sell a roughly 25% ...

  Bloomberg Shipping in the Taiwan Strait began to return to normal on Monday, though China’s announcement of a new military exercise near the island signaled that risks remain for the industry. More than 40 vessels have transited through a China military drill zone south of Taiwan’s main port since Saturday, according to ship-tracking data compiled by Bloomberg. The latest ...

Bloomberg An Italian centrist party quit its alliance with the Democrats, days after agreeing to join forces in a bid to prevent a right-wing landslide in September elections triggered by the fall of Prime Minister Mario Draghi’s government. The Azione party pulled out because “the pieces just didn’t fit together,” its leader, Carlo Calenda, said during an interview with national ...

  Bloomberg Russia told diplomats it’s ready to welcome international monitors into Ukraine’s Zaporizhzhia nuclear power plant, whose safety is in doubt after coming under attack last week. International Atomic Energy Agency inspectors have said there’s a “very real risk of a nuclear disaster” at Europe’s biggest atomic power plant amid fighting in the area. The Zaporizhzhia site, with six ...

  Bloomberg South Korea’s education minister offered to resign over a plan to reduce the school entry age a year to five, which ignited a backlash and dented already weak support for President Yoon Suk Yeol. Park Soon-ae, one of four women in Yoon’s 18-member cabinet, submitted her resignation Monday, saying she was stepping down after about a month on ...

  Bloomberg In the midst of the UK’s worst inflation crisis for four decades, Bank of England (BOE) Governor Andrew Bailey has found himself at the heart of a growing political storm. After a little more than two years in the job, Bailey is under attack from members of the ruling Conservative Party and the press. It’s a dramatic turnaround ...

Bloomberg Citigroup Inc.’s Mexican unit, Banamex, is likely to attract offers of about $7 billion to $8 billion as the field of bidders narrows, according to people familiar with the matter. Grupo Financiero Banorte, Carlos Slim’s Grupo Financiero Inbursa, mining tycoon German Larrea and Grupo Financiero Mifel are still in the running. Slim, with a net worth of $73.5 billion, ...

  Bloomberg Paytm, India’s leading digital payments brand, said its first-quarter loss widened by almost 70% on higher costs, and reiterated that the company is on track to hit operational profitability by September 2023. The loss in the April-June period climbed to 6.44 billion rupees ($81 million) from 3.8 billion rupees a year earlier, the company said. Revenue rose 89% ...

  Bloomberg Japan should reduce corporate taxes on crypto to prevent entrepreneurs leaving the country, one of nation’s most high-profile crypto businesspeople said. “At least 20 or more” firms have opted to establish their crypto business abroad rather than Japan because of high levy, said Sota Watanabe, CEO of Web3 infrastructure developer Stake Technologies, in an interview. Watanabe said he ...

  Bloomberg ING Groep NV reported second-quarter profit that beat analyst estimates after freeing up provisions for its shrinking business in Russia. Net income of 1.18 billion euros ($1.2 billion) in the three months through June compared with expectations for profit of 1.07 billion euros, according to a statement by the Dutch lender. Loan loss provisions of 202 million euros ...