Bloomberg The Chinese onshore yuan notched up its biggest rally in more than 13 years as the central bank allowed optimism over a “blue wave” in the US election to push the currency higher. Analysts are predicting more gains ahead. The onshore yuan advanced 1.58% in the first trading session of October after a national holiday, while its offshore counterpart …

Bloomberg India’s central bank and the federal government have urged the nation’s Supreme Court to reject pleas by borrowers to extend a loan repayment holiday. The Reserve Bank of India (RBI) and the government filed their written views following an order by the court, saying the measures announced so far to increase liquidity and lower borrowing costs are having a …

Bloomberg China will maintain “normal” monetary policy for as long as possible, according to the People’s Bank of China Governor Yi Gang. Policy makers plan to encourage a “reasonable” increase in household savings and incomes, Yi wrote in an article published on Saturday in the central bank’s biweekly magazine China Finance. The country will also make sure its liquidity stays …

Bloomberg Google said it’s within reach of negotiating a compromise on legislation that would force it to pay for Australian news, as the US giant continues a public campaign to get the proposed law watered down. The Australian government has drafted a world-first code to make Google and Facebook Inc. compensate publishers for the value their stories generate for the …

Bloomberg Tesla Inc.’s plan to build a $25,000 car within the next three years doesn’t seem to have fazed China’s most-promising electric vehicle startups, with executives at the Beijing Auto Show saying Elon Musk can bring it on. “It’s a good thing for us,” WM Motor Co. founder and Chief Executive Officer Freeman Shen said. “We are very happy Tesla …

Bloomberg Netflix Inc. became the world’s largest subscription-streaming service by flooding the market with popular content that’s cheaper than the competition. Yet five years after it arrived in Africa, the US company is struggling to grow beyond the wealthiest segment of the population, held back by poverty, piracy and limited access to broadband. In a continent of more than a …

Bloomberg Microsoft Corp. unveiled the cheapest-ever model of its Surface laptop, aiming to take a larger share of the lucrative notebook computer market by targeting students and budget shoppers. The Surface Laptop Go, starting at $549, is smaller and lighter than the company’s other notebooks and has a fingerprint scanner to log in. The device comes in three metallic finishes …

Bloomberg Amazon.com Inc. ended development of its first big-budget video game Crucible, highlighting the online retailer’s continued struggle to make headway in the industry. “We didn’t see a healthy, sustainable future ahead of Crucible,” the company said in a blog post. The team working on the project will be moved to other upcoming games and customers will get refunds, it …

ABU DHABI / WAM The Organisation of the Petroleum Exporting Countries (Opec), lauded the role played by the UAE within the organisation, stressing that the country has gained everyone’s respect, as it has helped establish understanding and agreement among Opec members in all matters related to the global oil market. In a report issued by the organisation on the occasion …

Bloomberg With millions of Americans still sheltering in place and cooking their own meals, the grocery industry has been one of the few bright spots in an otherwise battered US economy. Unless, that is, you are Whole Foods Market, the upscale chain acquired three years ago by Amazon.com Inc. Trips to Whole Foods in September were down 25% from a …