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Specialty apparel and department store stocks have been battered in recent years as a steady stream of store closings and unenticing merchandise put their future in doubt. But the apparel and accessories business is suddenly looking more fashionable. Last week, Goldman Sachs analyst Alexandra Walvis initiated coverage of Tapestry Inc., Tiffany & Co. and VF Corp. with a buy rating. ...

John Legere is the pitchman T-Mobile US Inc. and Sprint Corp. need for their merger. Can he pull it off? The cheerleader-like qualities that have helped the CEO bring enthusiasm to T-Mobile are the same ones that induce groans. Testifying before the Senate judiciary subcommittee on antitrust June 27, Legere wore his usual uniform: a superhero-esque magenta T-Mobile t-shirt under ...

Bloomberg European stocks struggled for direction while futures for the S&P 500 advanced in a lackluster session overshadowed by the US holiday. There was a more downbeat mood in Asia where shares slipped even as the yuan extended a rebound. Telecom companies were the biggest winners on the Stoxx Europe 600 Index, though declines in technology shares helped offset the ...

Bloomberg Once the hallmark of this bull run, complacency has made way for angst. From junk bonds to emerging-market stocks, market turnover is through the roof, reaching multi-year highs. Within the S&P 500 Index, investors traded more than $2.9 trillion worth of shares in each of the past two quarters, a feat last achieved in early 2008. Burgeoning uncertainty — ...

Bloomberg Danske Bank A/S’s Estonian operations may have been used to launder as much as $8.3 billion in a case that has rocked Denmark and triggered calls for tougher penalties from the country’s political establishment. The amount, which represents roughly a third of Danske’s market value and almost 3 percent of Danish GDP, is more than double that previously estimated, ...

Bloomberg Bahrain hired investment bank Lazard Ltd. to advise on how to repair its strained public finances, according to people with knowledge of the matter, as the island kingdom seeks to secure crucial support from rich neighbors to avoid a currency devaluation. Lazard is helping Bahrain evaluate fiscal reforms to help ease pressure on the state’s budget, the people said, ...

Bloomberg China’s central bank is caught in a bind, as it seeks to tighten monetary policy for some parts of the economy while loosening it for others. Already engaged in the mammoth task of wringing bad debts out of China’s $40 trillion-plus financial system, the People’s Bank of China is now attempting to achieve that while simultaneously being asked to ...

Bloomberg Just 20 banks have applied for a license to operate in the European Union in time to receive approval before Britain leaves the bloc. The European Central Bank has talked with 50 financial companies exploring options to retain the so-called passport that grants them access to one of the world’s largest economies, said Pentti Hakkarainen, a member of its ...

Bloomberg The UK Serious Fraud Office has dropped a criminal investigation into Lloyds Banking Group Plc and its former traders over Libor rigging, according to a newspaper report. Investigators concluded there was insufficient evidence to take the matter further in respect of former traders and the bank, The Times reported, without saying where it obtained the information. The SFO has ...

Bloomberg Ryanair Holdings Plc is facing pilot strikes in its Irish home market next week, in what may become the most significant confrontation between Europe’s biggest low-cost carrier and organized labor to date. A poll of Ryanair cockpit crew produced a 94 to 1 vote in favour of industrial action including strikes, a spokesman for the Irish Air Line Pilots’ ...