Bank of America Trading Desks Gain Ground With More Capital, Headcount
Fixed-income traders in particular have nabbed market share, helping narrow gap with rival JPMorgan
Bloomberg Business
‘Diverse’ Germany to Make It Easier to Legally Change Gender
Germany is taking steps to smooth the process for transgender, intersex and non-binary people to legally change their names and gender, as Chancellor Olaf Scholz’s ruling coalition attempts to deliver on a pledge to make society more inclusive.
US Business Activity Barely Expands on Subdued Customer Demand
US business activity expanded in early August at the weakest pace in six months, inching closer to stagnation amid sluggish demand.
Grab Brings Forward Breakeven Target After Losses Narrow
Grab Holdings Ltd. brought forward its profitability target after posting a narrower loss in the second quarter, buoyed by extensive cost cuts at the ride-hailing and food-delivery company.
Advance Auto Names New CEO, Starts Review as Earnings Shrink
Advance Auto Parts Inc. named a new chief executive officer and started a strategic review of the business as it struggles to keep up with inflation. The shares rose as much as 6.2%.
Qatar Wealth Fund Invests $1 Billion in Ambani’s Retail Arm
Qatar’s sovereign wealth fund invested 82.78 billion rupees ($1 billion) into India’s biggest brick-and-mortar retailer as Asia’s richest man Mukesh Ambani looks to rapidly expand its operations and take on global competitors including Amazon.com Inc. and Walmart Inc.
Foot Locker Sinks on Forecast Cut Amid ‘Discerning’ Shoppers
Foot Locker Inc. plummeted after cutting its full-year forecast and reporting results that fell short of Wall Street’s expectations amid concern over weakening spending patterns. The retailer also suspended its dividend.
BRICS Bank Aims to Increase Local-Currency Borrowing to 30%
New Development Bank, the multilateral lender founded by the BRICS group of emerging-market countries, aims to increase the share of funding it raises in local currencies to 30% from less than 20%, according to its chief financial officer.
More People Call in Sick on August 24 Than Any Other Day
The second ‘sickest’ day of the year falls after Super Bowl Sunday in February.
Mallinckrodt to Go Bankrupt for Second Time in Three Years
Mallinckrodt Plc plans to file bankruptcy for the second time in less than three years after battling business declines and struggling to keep up with payments on a $1.7 billion settlement resolving a wave of lawsuits accusing the drugmaker of fueling the US opioid epidemic.