Bloomberg Microsoft Corp. and Volkswagen AG are set to strike a deal to use the US software giant’s cloud technology to connect the auto manufacturer’s entire vehicle fleet as the world’s biggest carmaker steps up its transformation into digital and mobility services. VW will channel all of its digital offerings through Microsoft’s Azure software, creating the world’s largest automotive cloud …

Bloomberg Elon Musk has asked for Tesla Inc. employees to test what the company has billed as full self-driving capability and is dangling $13,000 in savings to entice them to help. Musk wrote in an email obtained by Bloomberg News that Tesla needed about 100 more employees to join an internal testing program linked to rolling out the full self-driving …

Bloomberg In the race to build safe and affordable driverless vehicles, being first to deliver isn’t fetching a premium from investors. French startup Navya SAS would know: the first standalone self-driving company to be publicly traded has sold 15 of its autonomous vehicles that need no steering wheel, mirrors or pedals, and plans to start deliveries next year. It thinks …

Bloomberg The collapse of Skye Bank Plc is darkening the outlook for Nigeria’s other small lenders struggling to recover from the economy’s contraction two years ago, and threatening to derail the regulator’s ambitions of expanding the industry. The Central Bank of Nigeria revoked the lender’s license for failing to meet capital and liquidity thresholds since the authorities first intervened to …

Bloomberg India’s troubled shadow bank Infrastructure Leasing & Financial Services Ltd., whose recent debt defaults sparked concern about contagion in the nation’s financial markets, has sought shareholder’s approval for a plan to revive the firm at the company’s annual general meeting on Saturday. The management aims to bring the group back to normalcy by selling shares through a rights issue, …

Bloomberg China will maintain a neutral and stable monetary policy while also assuring reasonable and ample liquidity, the People’s Bank of China said in a statement on Saturday. China’s overall exchange rate and market expectations are stable, the bank said at its third-quarter meeting. The nation will continue to deepen its financial system reform, the PBOC said in its statement. …

Bloomberg UK inflation pressures are likely to pick up even if the Bank of England’s forecasts for wage growth and productivity gains aren’t met, according to Deputy Governor Dave Ramsden. In a speech in London, Ramsden said that he’s on board with BOE’s collective view that limited and gradual increases are needed to control inflation. Labour market tightness and rising …

Bloomberg US investor Bill Browder has presented evidence that Norwegian lender DNB ASA helped transfer $533,000 in Russian cash through accounts in Estonia and Lithuania, according to a Dagens Naringsliv (DN) report. Browder sent a complaint to Norway’s economic crime unit in 2016 and met with the authority in 2017, according to the newspaper. The cash was transferred by eight …

Bloomberg As investors scrambled for more clarity on the Italian budget plan that roiled its markets, at least one thing was clear: Ten years after the financial crisis, the sovereign-bank “doom loop” still haunts Europe. A selloff that started in government bonds quickly spread to the debt and shares of the country’s lenders as investors latched onto a problem policy …

Bloomberg Boeing Co. defeated Lockheed Martin Corp. to win its third prize in a recent flurry of defense contracts, snaring a US Air Force contest valued at as much as $9.2 billion to build training jets to hone the flying skills of future aviators. The 351 to 475 training aircraft and 120 ground-based training systems would be produced at Boeing’s …