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  Bloomberg Kenneth Cole Productions, a fashion house and shoe company founded more than three decades ago, is closing almost all its stores, effectively ending its run as a U.S. brick-and-mortar chain. The New York-based retailer will shutter its 63 outlet stores over the next six months, Chief Executive Officer Marc Schneider said in an e-mail. That leaves Kenneth Cole ...

  Bloomberg South African retail stocks slumped, heading for the lowest in almost seven months, after Woolworths Holdings Ltd. said clothing sales fell, adding to similar recent declines reported by local competitors. The eleven-member FTSE/JSE Africa General Retailers Index retreated 4.1 percent in Johannesburg, heading for the lowest level since April 24. Cape Town-based Woolworths tumbled 3.7 percent to 67.68 ...

  NEW DELHI / AP Chaotic scenes played out across India on Saturday, with long lines growing even longer and scuffles breaking out, as millions of anxious people tried to change old currency notes that became worthless days earlier when the government demonetized high-value bills. In New Delhi, the capital, angry scuffles broke out after ATMs ran out of bills. ...

  ShanghaI / AFP Chinese bank lending almost halved month-on-month in October, official data showed, as Beijing moved to rein in credit risks but with national holidays also an issue. New loans extended by banks fell to 651.3 billion yuan ($95.6 billion) last month, compared with 1.22 trillion yuan in September, said the People’s Bank of China, the country’s central ...

  Frankfurt / AFP German insurance heavyweight Allianz announced a bumper third-quarter profit, turning around a slump prompted by higher payouts for natural disasters earlier in the year. The group said it increased net profit to 1.95 billion euros ($2.1 billion) between July and September, an increase of 35 percent year-on-year. Its result outdid the expectations of analysts surveyed by ...

  Bloomberg European banks may reach faster, less costly settlements with the US Department of Justice as a result of Donald Trump’s unexpected triumph in the US presidential election, according to Barclays Plc analysts. “Some Democrat appointments at the DoJ have only a few weeks left before they are replaced,” London-based analysts Mike Harrison and Jeremy Sigee wrote in a ...

  Bloomberg Agricultural Development Bank Ltd. of Ghana may reopen an initial public offering next week, increasing its funding target by half after rejecting bids in a share sale that closed in March. The biggest agricultural lender in the West African country will seek to raise 600 million cedis (about $150 million) should the government, which holds 52 percent, approve ...

  Bloomberg Wells Fargo & Co. climbed for a second straight day, leading US bank stocks higher, as investors bet that a Trump presidency will lead to less regulation, sideline some of the industry’s sharpest critics and lift long-term interest rates. Wells Fargo, which drew bipartisan rebukes from Congress after bank employees opened unauthorized customer accounts, rose 7.8 percent to ...

  Bloomberg AT&T Inc. will offer wireless subscribers the ability to stream lower-quality video to save on data charges, an industry practice that has raised concern about equal treatment of internet content. Beginning in early 2017, AT&T customers will have the option to use Stream Saver, a video-delivery setting that provides DVD-quality, 480p-screen resolution, according to a statement Friday. The ...

  Bloomberg The election of Donald Trump has been stock market manna for every industry that benefits from an expanding economy but one: technology.Losses among computer and software makers mushroomed and were pronounced in the FANG block of Facebook Inc., Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc., each of which fell at least 1.9 percent. The Nasdaq 100 ...