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Retail

Lord & Taylor files for bankruptcy

NEW YORK: Venerable US retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector.

Economy

India likely to cut rates despite inflation risk

MUMBAI: India’s worsening economic outlook as coronavirus cases soar has raised the chance the central bank will cut interest rates at its policy review on Thursday, in spite of inflationary pressures.

Economy

Social debt surges to record in first half of year

LONDON: Sales of debt for projects aimed at helping society surged to a record in the first half of the year as governments, supranational entities and companies boosted borrowing to get through the pandemic.