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  Bloomberg China’s central bank and banking regulator urged lenders to boost loans as the economy is battered by Covid outbreaks that have threatened growth this year. People’s Bank of China (PBOC) Governor Yi Gang and other officials met with 24 major financial institutions to discuss credit conditions and work, the central bank said in a statement on Tuesday. The …

  Bloomberg Stocks declined on Tuesday after a profit warning from Snap Inc weighed on technology shares and fuelled concerns about risks to economic growth. Tech shares were among the worst performers in Europe’s Stoxx 600, while Nasdaq 100 futures tumbled more than 2% and Chinese tech stocks by more than 4%. S&P 500 futures fall, just as the benchmark …

Bloomberg The selloff in equities will reach a bottom once the Federal Reserve signals the end of tightening, which may not happen until recession is apparent, according to Goldman Sachs Group Inc. “It may be necessary for the market to become more confident than it is that financial conditions tightening has been sufficient and that the Fed has delivered and …

  Bloomberg Europe’s ambitious plan to walk away from Russian natural gas and replace a chunk of it with tanker-borne imports faces a major obstacle: getting it to where it’s needed most without huge price discrepancies. Even as record amounts of liquefied natural gas (LNG) land on Europe’s shores, the lack of interconnectors from key import terminals in the west …

Bloomberg Amazon.com Inc is testing a service that uses the company’s sprawling network of gig drivers to fetch packages from mall-based retailers and deliver them to customers. The program, should it become a permanent part of the e-commerce giant’s delivery options, could help Amazon expand the variety of goods it has available for fast shipment. Shoppers who want same-day or …

  Bloomberg President Joe Biden invoked emergency powers under the Defense Production Act to boost production of baby formula and ordered government agencies to use commercial flights for imports to alleviate shortages. The White House said in a statement that the move would allow domestic manufacturers to obtain needed ingredients and speed shipments of foreign supplies. “I know parents all …

  Bloomberg Foot Locker Inc shares climbed after its forecast showed the retailer is overcoming Nike Inc’s move to sell more shoes via its own channels. Foot Locker said that it now expects full-year sales and profit to be at the high end of its prior expectations. Chief Executive Officer Dick Johnson said the company is “off to a strong …

  Bloomberg Rapid delivery companies have curbed their ambitions in the Netherlands after disgruntled Dutch cities put a halt on the explosive growth of their distribution centers. After months of consultations, Flink SE, Getir and Gorillas signed a joint code of conduct that could crimp their ability to make super-fast deliveries in a concession to Dutch municipalities. The companies pledged …

  Bloomberg Air France-KLM is in talks with Apollo Global Management Inc about a 500 million-euro ($528 million) capital injection that would allow the carrier to repay a chunk of the state aid that helped it survive the Covid crisis. The funding would see the US private-equity firm provide capital to an Air France affiliate that owns a pool of …

  Bloomberg A retailer that has come to represent the resilience of New York City is making a comeback. Century 21 will be returning to its flagship location in downtown Manhattan in spring 2023 and is teaming up with retail operator Legends to again showcase a selection of off-price luxury goods. The store will occupy four floors of 22 Cortlandt …