Estée Lauder Is Missing Out on the Beauty Sector Rebound — Thanks to China
Estée Lauder Cos. is lagging behind its rivals as the reopening of China boosts the luxury-retail outlook. There’s a familiar culprit: supply-chain troubles.
Bloomberg Business
Korea, Japan Presidents to Drink ‘Bomb Shot’ as They Talk Security
In between talks on security and technology, the leaders of South Korea and Japan plan to unwind over a drink.
Jenny Craig Begins Liquidation Proceedings for Canadian Division
Jenny Craig Inc.’s Canadian division has commenced liquidation proceedings, public records show.
Warner Bros Posts Surprise Streaming Profit as Cable Struggles
Warner Bros. Discovery Inc. reported a surprise profit in streaming TV as its legacy cable networks continued to lose advertising and viewers.
Fed Can Still Achieve Soft Landing, Bullard Says
Federal Reserve Bank of St Louis President James Bullard said policymakers will probably have to push rates higher to cool inflation, but said he would wait and see what the data show before deciding what move to support in June.
US Bank Lending Rises for Fourth Week, Led by Small Institutions
US bank lending increased for a fourth straight week, suggesting credit conditions remain relatively stable despite elevated concerns about regional lenders.
Adnoc, Apollo Offer $7.6 Billion for Brazil’s Braskem
Braskem SA, one of the world’s top petrochemicals makers, received an offer of as much as 37.5 billion reais ($7.6 billion) from Abu Dhabi National Oil Co. and Apollo Global Management, according to people familiar with the matter.
Fed’s Goolsbee Says Premature to Make Call on June Rate Decision
Chicago Fed President Austan Goolsbee said it was too soon to judge what officials should do with interest rates when they meet next month, though banking strain could do some of their work for them.
House GOP Spending Cuts Would ‘Wreak Havoc’ on US Air System, FAA Says
Steep spending cuts contained in a House Republican budget bill would dramatically exacerbate a shortage of US air-traffic controllers that has already led to a reduction in flights to New York this summer, officials said Friday.
Wild Week in Banks Sends Indexes of Cross-Asset Tumult Spinning
A big short squeeze in bank stocks punctuated a week of resurgent volatility across asset classes, with anxiety over efforts to stanch turmoil in the financial system leaving no market untouched.