Bloomberg SAIC Motor Corp expects annual sales to fall for the first time in at least 14 years as China’s biggest automaker battles through a slump in demand roiling the world’s largest car market, according to people familiar with the matter. The Shanghai-based company, Volkswagen AG and General Motors Co’s biggest auto-making partner in China, projects 2019 sales will fall ...

Bloomberg The European Union said it may deem certain 5G suppliers a security risk, noting that Chinese law requires domestic companies to collaborate with intelligence agencies. The EU won’t target China’s Huawei Technologies Co “from the outset,” Security Commissioner Julian King told reporters. But he noted that Chinese national intelligence law “puts certain quite broad requirements on organisations or citizens ...

Bloomberg Novartis AG, the Swiss drugmaker, raised its earnings outlook for the second time this year, buoyed by key heart and psoriasis medicines. Earnings excluding some items are expected to increase by a low double-digit to mid-teens percentage, the Basel, Switzerland-based company said. Novartis previously forecast a high single-digit percentage increase. The outlook for sales, new medicines and the Sandoz ...

Bloomberg YouTube reached a settlement with the US Federal Trade Commission (FTC) resolving allegations that the company violated rules about collecting data on and advertising to children, according to a person familiar with the matter. The FTC’s five-member commission voted to approve the settlement, said the person, who declined to be identified because the matter is confidential. Details of the ...

Bloomberg UK law firm Mishcon de Reya is preparing for an initial public offering or a stake sale, Sky News reported, citing people it didn’t identify. The London-based firm, which wants to raise capital to accelerate its expansion, is expected to hire bankers to work on a deal in coming months, Sky said. The company hasn’t made any decisions yet, ...

Bloomberg Google agreed to pay $11 million to end a lawsuit accusing the internet giant of discriminating against older job applicants, a deal that amounts to an average payout of more than $35,000 for 227 people who joined the class action. The settlement also calls for the Alphabet Inc unit to train employees and managers about age bias, to create ...

Bloomberg Iran’s Revolutionary Guard Corps is holding a British oil tanker, after seizing it in the Strait of Hormuz amid soaring tensions in one of the world’s critical energy chokepoints. UK officials demanded the immediate release of the vessel. Iran’s state-run Islamic Republic News Agency (IRNA) said the UK-flagged Stena Impero crashed into a fishing vessel and had been taken ...

Bloomberg President Donald Trump will push Pakistan’s prime minister, Imran Khan, to pressure the Taliban into signing a permanent ceasefire in Afghanistan, an administration official said. Trump will demand that Pakistan’s government free Shakil Afridi, a physician imprisoned after helping the US government locate and kill Osama bin Laden, the official said. The Trump administration will judge Pakistan in part ...

Bloomberg The US government said an overwhelming crush by immigrants crossing the southern border justifies a new rule restricting asylum applications from Central Americans who haven’t sought protection from persecution or torture in another country through which they passed. The Justice Department filed its response to a request by immigrant rights’ groups for an emergency court order to halt enforcement ...

Bloomberg Pressured by his closest advisers to force a snap election, Matteo Salvini is hesitating. The usually hyper-active deputy premier is keeping the country waiting as he considers whether to take his biggest political gamble yet and pull out of Italy’s fractious populist coalition. The leader of the rightist League is looking to capitalise on his victory in May’s European ...