Bloomberg Hong Kong’s embattled leader, Carrie Lam, formally withdrew legislation to allow extraditions to China, a political retreat that may help ease — but not end — months of unrest in the Asian financial hub. Lam announced the move in a televised address on Wednesday, after a meeting with pro-establishment politicians including local legislators and the city’s representatives to national ...

Bloomberg Kelly Craft is expected to leave bombast to Donald Trump, swagger to Michael Pompeo and hard-line strategy to John Bolton when she takes her seat as US ambassador at the UN next week. In an administration known for its confrontations with both allies and adversaries, Craft, a wealthy Trump campaign contributor who previously served as envoy to Canada, has ...

Bloomberg Iran said it was unlikely to reach a much-anticipated agreement with Europe in time to avert another Iranian retreat from the limping nuclear deal, but gave European powers two more months to try to keep the accord alive. While president Hassan Rouhani said his country would unveil on Thursday further plans to ramp up its atomic activities, the extension ...

Bloomberg Contractors who run US detention centres for migrant children employed people who hadn’t completed background checks or didn’t meet educational requirements, potentially putting kids “at risk,” the health department’s internal watchdog said. More than half of shelters supervised by the Department of Health and Human Services allowed new employees to begin work without completing an FBI background check, a ...

Bloomberg UK Prime Minister Boris Johnson began moves to trigger a snap general election after suffering a humiliating defeat for his Brexit strategy that left his ruling party in tatters. A fresh poll to choose a new government would mark the climax of the political chaos that has engulfed Britain for the past three years since the country voted narrowly ...

A 15% tariff that went into effect September 1 on about $112 billion of goods imported from China will start pushing up prices of clothing, shoes and other consumer goods arriving at US ports this week. That should start taking a serious toll on shopping in the US. While 82% of intermediate inputs are already affected by tariffs, just 29% ...

How to make sense of the whopping $47 billion in lease liabilities that WeWork disclosed ahead of its planned IPO? That figure makes WeWork one of the world’s largest lessees, according to Bloomberg data, which is pretty astonishing considering the flexible office space provider was founded less than a decade ago, bleeds cash, and doesn’t plan to become profitable any ...

Is China’s 14-month car crash at an end? After more than a year of declining sales, the country’s auto industry has relief in sight. Beijing’s ruling State Council told city governments to loosen or cancel restrictions on new car sales designed to limit congestion, as part of a package of measures to get sputtering economic growth back on track. The ...

You can have too much of a good thing — even, as Germany proves, financial self-discipline. With the economy on the verge of recession and growth in the wider euro area sputtering out, a strong fiscal stimulus is needed from Berlin. Under conditions like these, fear of public borrowing is the opposite of prudent. The government is running a budget ...

With every passing day, India’s economic indicators are turning a little bleaker. The situation is bad enough to warrant using the word “crisis,” arriving just as the government’s fiscal ammunition is spent. The announcement of 5% GDP growth in the June quarter showed the economy growing at its weakest pace in six years. On Sunday, the top six carmakers reported ...