Bloomberg Business

Armenian Exodus Passes 50,000 as US Presses Azerbaijan on Safety

Azerbaijan’s President Ilham Aliyev offered to let the United Nations into Nagorno-Karabakh as the US pressed him over security for Armenians in the region to stem an exodus that’s approaching half of the declared population.

Lenders Work on €1 Billion Financing for Kereis as Sale Starts

Bankers and private credit funds are working on a financing deal of around €1 billion ($1.05 billion) to back a potential buyout of French insurance broker Kereis as the sale process kicks off, according to people familiar with the matter.

Amazon Punishes Seller for Five-Cent Price Cut, Echoing FTC Case

(Bloomberg) — About once a week, Bernie Thompson gets a “take action” email from Amazon.com Inc. Online sellers like Thompson dread these messages because it means the e-commerce giant has discovered one of their products is selling for a lower price on a competing website. Unless he adjusts the price, Thompson says, Amazon could make his merchandise virtually invisible to shoppers.

New York Mega Mall Has Muni Bond Rating Slashed Deeper Into Junk

Municipal bonds tied to Destiny USA, the biggest shopping mall in New York state, were cut deeper into junk by Moody’s Investors Service on Wednesday because the complex is unlikely to meet a key measure of profitability needed to extend an outstanding loan.

Pot Banking Bill Receives Backing From US Senate Committee

(Bloomberg) — The Senate Banking Committee backed legislation that would offer federal protections to banks that offer financial services to cannabis businesses, which is still against federal law despite being legal in many states. 

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