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Bloomberg Luxury retail chains are losing their once-iron grip on Hong Kong’s shopping streets, as Covid-19 keeps visitors away and forces the city to shift towards restaurants catering to residents. Across the Asian financial hub, one in five shops targeting mainly Chinese tourists and selling jewellery, medicine, cosmetics, clothing and leather goods has closed since the third quarter of 2018 ...

Bloomberg AirAsia Group Bhd’s long-haul arm has offered to pay creditors just 0.5% of the more than $8 billion total debt they are owed and terminate all existing contracts as it tries to restructure, a document seen by Bloomberg shows. The carrier, AirAsia X Bhd, told creditors it is unable to meet immediate debt and other financial commitments based on ...

Bloomberg Saks Fifth Avenue’s e-commerce unit is interviewing potential underwriters this week for an initial public offering that could take place in the first half of 2022, Dow Jones reported, citing people familiar with the matter. The luxury retailer is targeting a valuation of around $6 billion, triple its worth in March, it added. After steps earlier this year to ...

Bloomberg JD Logistics Inc is planning to set up its own fleet of planes as the Chinese firm eyes a greater slice of a cross-border cargo market engulfed by global supply chain snarls. The logistics arm of Chinese e-commerce giant JD.com Inc aims to have “no fewer than 100 planes” by 2030, including leased and jointly purchased aircraft, said Chief ...

Bloomberg Amazon.com Inc plans to hire 150,000 seasonal staffers, about 50% more than last year as the company seeks a cushion of workers to help it meet demand during the holiday shopping period. The world’s largest online retailer typically hires legions of temporary workers this time of year to help store, pack and ship items from its warehouses. Since the ...

Bloomberg Australia will continue the pause of green zone flights from the North Island of New Zealand until October 31 amid a further spread of locally acquired coronavirus cases outside the Auckland region, according to a statement. However, given there haven’t been any locally acquired cases on the South Island connected to the outbreak, Australia was expected to recommence green ...

Bloomberg North Korea appears to have fired a submarine-launched ballistic missile for the first time in two years, adding to a series of tests demonstrating Kim Jong Un’s pursuit of nuclear-capable weapons that can evade US interceptors. The regime is suspected of launching an SLBM Tuesday from the eastern port of Sinpo into waters between the Korean Peninsula and Japan, ...

Bloomberg Former president Donald Trump sued to block the release of documents to the U.S. House select committee investigating the Jan. 6 attack on the US Capitol, arguing that lawmakers have made an over-broad request for presidential records. In the complaint filed in federal court in Washington, Trump asked a judge to stop the national archivist from releasing the records ...

Bloomberg China’s reported launch of a hypersonic missile into orbit has raised concerns that US rivals are quickly neutralizing the Pentagon’s missile defenses even as it invests tens of billions of dollars in upgrades. In a test two months ago, the Chinese military sent a nuclear-capable missile into low-orbit space and around the globe before cruising down to its target, ...

Bloomberg Russian President Vladimir Putin will participate in next week’s Group of 20 summit in Rome via videolink, the Kremlin said. Putin told Italian Prime Minister Mario Draghi of his plans in a phone call Tuesday, according to an emailed statement. Chinese President Xi Jinping has indicated he may also take part in the October 30-31 Rome G-20 summit remotely. ...