Boohoo Plunges as Online Fashion Retailer Cuts Forecasts
Boohoo Group Plc shares slumped to an eight-year low after the UK fast-fashion retailer cut its earnings and revenue forecasts as it lowered prices to attract cash-strapped shoppers.
Bloomberg Business
Hotel Prices in Paris Are Up 300% Ahead of Next Year’s Olympics
Forty-five percent of hotel rooms are already booked for next summer in the City of Light.
China Evergrande Shares Soar as Trade Resumes Amid Police Probe
China Evergrande Group soared as it returned from a trading halt, driven by what appeared to be speculative bets on a penny stock even as the developer’s fate hangs in the balance amid an official probe into its billionaire founder.
Egypt’s President Sisi to Run Again as Economic Crisis Deepens
Egyptian President Abdel-Fattah El-Sisi confirmed he’ll seek a another term in December elections he’s widely expected to win, as the nation reels from its worst economic crisis in years.
Russian Oil Exports to India Bounced Back Strongly in September
Shipments of Russian oil to India jumped 15% in September from a seven-month low in August, boosted by plentiful supply and price discounts, according to Kpler SAS.
Morgan Stanley Turns Bearish on Egypt, Warns Risks Building
Morgan Stanley is turning bearish on Egypt as the cash-strapped nation faces what the US bank called “mounting risks” in the coming months.
ECB’s Simkus Says Inflation Still Faces Many Lines of Resistance
(Bloomberg) — The European Central Bank must keeping interest rates restrictive for as long as is necessary to return inflation to target, according to Governing Council member Gediminas Simkus.
India Manufacturing Activity Outperforms Asia as Demand Picks Up
India’s manufacturing activity remained relatively strong in September, outperforming other Asian economies, as businesses picked up new clients in key overseas markets.
Typhoon Koinu on Track to Hit Taiwan, Approach Hong Kong
Severe Typhoon Koinu will pass over the southern tip of Taiwan in coming days before heading toward Hong Kong in a weakened state, according to regional observatories.
Kishida Says Japan Pensions With $600 Billion Sign ESG Pact
Japanese pension funds managing 90 trillion yen ($600 billion) will join a global initiative for responsible investment, Prime Minister Fumio Kishida said in a speech on Tuesday.
