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Bloomberg A business plan that aims to put Mexico’s troubled Interjet back in the skies in 2022 is ready, according to the firm the airline hired to advise on restructuring $1.25 billion in debt. Argoss Partners submitted the plan to Interjet management at the end of July. It calls for debt forgiveness of over 90%, partial payment to workers, preliminary ...

Bloomberg Ulta Beauty Inc raised its sales outlook after second-quarter results topped expectations, reinforcing that cosmetics demand is on the rise amid easing pandemic restrictions. The retail chain now sees sales of as much as $8.3 billion this year, Ulta said, up from a previous forecast of no more than $7.8 billion. The company also said the key gauge of ...

Bloomberg Gap Inc topped Wall Street’s expectations with its second-quarter results and increased guidance for the full year, highlighting the recovery for apparel retailers from the early-pandemic slowdown. The San Francisco-based company now sees adjusted earnings per share of $2.10 and $2.25, with net sales up about 30% compared with last year, it said. The apparel maker in May had ...

Bloomberg US forces carried out a strike in Afghanistan against the terrorist organisation believed responsible for the devastating bombing that killed at least 88 people near the Kabul airport a day earlier. “US military forces conducted an over-the-horizon counterterrorism operation on Saturday against an IS-K planner,” said Captain Bill Urban, a spokesman for US Central Command. He added that the ...

Bloomberg President Joe Biden rebuked China for stonewalling a US investigation into the origins of the coronavirus, as his administration reported it was unable to reach firm conclusions because of Beijing’s unwillingness to cooperate. China denied that it had hindered the probe. “The world deserves answers, and I will not rest until we get them,” Biden said in a statement ...

Bloomberg China’s central bank signaled it may reduce the reserve requirement ratio for banks to spur rural finance, a targeted move that would help cushion the economy as it slows. The People’s Bank of China (PBOC) said it will use monetary policy tools including the reserve ratio, and relending and rediscounting measures for rural development, according to a statement. That ...

Bloomberg PT Bank Central Asia (BCA) will invest $200 million into its digital arm to fend off competition from tech giants Gojek and Sea Ltd that are expanding into one of world’s largest unbanked markets. The Southeast Asian nation’s biggest lender by market value will use the funds to help Blu, its one-month old digital unit, to increase market share ...

Bloomberg Japan’s economic recovery will be delayed more than previously expected as the delta variant pushes up infections to record levels, according to a Bank of Japan (BOJ) board member. “The current spread of infections is more than expected at the time of the July policy meeting,” Toyoaki Nakamura, one of nine members on the board, told reporters in Tokyo. ...

Bloomberg South Korea became the first major Asian economy to raise interest rates, with more hikes in the pipeline as its central bank indicated that financial risks pose a bigger threat to the economy than the latest virus outbreak. Governor Lee Ju-yeol said the quarter-percentage-point hike to 0.75% still left rates in an accommodative position that supports the economy. He ...

Bloomberg Barclays Plc acquired a $3.8 billion portfolio of credit cards from retailer Gap Inc., giving it a new route to American consumers. The British bank will issue co-branded and private label credit cards in the US to Gap customers from the second quarter next year, Barclays said in a statement. While Chief Executive Officer Jes Staley has made the ...