Bloomberg BMW AG signed a deal with Goldman Sachs Group Inc.-backed Northvolt AB for 2 billion euros ($2.3 billion) of battery cells to power the German company’s electric cars. Northvolt, a Swedish firm started by two former Tesla Inc. executives, will manufacture the cells using renewable electricity and deliver them from 2024 as part of a long-term contract, BMW said ...

Bloomberg S4 Capital Plc, the digital advertising and marketing group founded by former WPP Plc boss Martin Sorrell, raised 116 million pounds ($146 million) in a stock offering to fund acquisitions. The company sold 29.7 million shares to a mix of existing and new investors at 315 pence each, while directors bought a further 7.1 million shares, it said in ...

Bloomberg The International Monetary Fund (IMF) warned that the rate of bankruptcy for small- and medium-sized businesses may triple this year in the absence of sufficient government support, threatening to stall the economic recovery and cause financial instability. A staff analysis of 17 countries suggests that bankruptcies for the firms could surge to 12%, from 4% before the pandemic, the ...

Bloomberg Europe’s car industry extended a tentative recovery for a second straight month, leaving manufacturers and dealers hoping state subsidies will help spur a stronger rebound. New passenger-car registrations fell 24% in June, the European Automobile Manufacturers Association said. That’s an improvement on May’s 57% slump and April’s 78% drop. With sales still well below last year’s levels, hopes are ...

Bloomberg It wasn’t meant to be like this for Margrethe Vestager, the European Union competition chief who’s made a name for herself as Silicon Valley’s worst nightmare. Her order for Apple Inc. to pay back a record 13 billion-euros ($14.9 billion) in state aid from Ireland in 2016 sealed her reputation as the world’s most feared antitrust enforcer. But the ...

Bloomberg Stocks fell with US equity futures on Thursday as investors parsed economic data from China that showed the path of economic recovery from the pandemic remains bumpy. The Stoxx Europe 600 Index tracked Asian shares lower after Chinese retail sales in June missed estimates and continued to contract, even as the economy returned to growth in the second quarter. ...

Bloomberg Japanese investors sold a record amount of foreign stocks last week, offloading a net $34 billion of overseas equity. The figure is almost six times greater than in any previous week. It wasn’t immediately clear what factors were behind the record selling, with fingers pointed at factors including funds locking in profits as US stocks recovered their losses suffered ...

Bloomberg After a torrid rally that saw shares more than double since early May, Tesla Inc. is taking a pause, even as the broader market rises on the hopes for a coronavirus vaccine. Tesla shares dropped as much as 3.9% to $1,457 in New York, as the S&P 500 Index rose as much as 1.3%. The electric vehicle maker is ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Russian President, Vladimir Putin discussed bilateral relations and ways to enhance them in various fields as part of the existing strategic partnership between the two friendly countries. In a phone call, His Highness ...

Bloomberg The Organisation of Petroleum Exporting Countries (Opec) and its allies will restore some oil supplies next month, but the impact will be “barely felt” as demand recovers from the coronavirus crisis, said Saudi Arabia’s Energy Minister. After almost three months of historic output curbs to offset the worst effects of the global pandemic, the 23-nation coalition led by Riyadh ...