Bloomberg Foreo, the six-year-old Swedish beauty company known for its electric facial cleansers and toothbrushes, is working with advisers as it considers selling itself, people familiar with the matter said. The firm could fetch more than $1 billion in a sale, the people said, asking not to be identified. PE firms are expected to be among the bidders, one of ...

Bloomberg Bernard Arnault, Europe’s richest man, got another boost as LVMH shares reached a record due to better-than-expected sales of Louis Vuitton handbags and leather goods. The Frenchman, whose fortune has increased by more than $19 billion in 2019, is rubbing shoulders with Bill Gates and Warren Buffett in the Bloomberg Billionaires Index, with a net worth of more than ...

Bloomberg Masayoshi Son will soon have some evidence to back his faith in ride-hailing: His stake in Uber Technologies Inc may be worth at least double the $7.7 billion he paid for it little more than a year ago. SoftBank Group Corp’s Vision Fund owns 16.3 percent of the world’s biggest ride-hailing company, according to Uber’s filing with the US ...

Bloomberg China has struck a deal with Malaysia to resume the East Coast Rail Link project at a smaller cost and scope. The project will now cost 44 billion ringgit ($10.7 billion) instead of the original 65.5 billion ringgit, according to a statement from the prime minister’s office. Premier Mahathir Mohamad revived talks on the rail link after cancelling it ...

Bloomberg Former Nissan Motor Co executive Jose Munoz who served the Japanese automaker as chief performance officer is in talks with Hyundai Motor Co to take an executive role, Automotive News reported. Hyundai Motor is poised to appoint Munoz, 53, as global chief operating officer in South Korea and president of Hyundai Motor America, according to the report, which cited ...

Bloomberg QSR Brands (M) Holdings Bhd, which runs KFC and Pizza Hut outlets in Southeast Asia, aims to revive an initial public offering as soon as the fourth quarter, people with knowledge of the matter said. The company shelved its Malaysia shares sale after talks with its bankers, without giving a reason. Discussions of the IPO revival are in early ...

Bloomberg Tata Steel Ltd’s European workers said they’re unsure the company’s planned joint venture with Thyssenkrupp should go ahead as the combination may favour the German firm’s operations. Thyssenkrupp offered concessions to regulators earlier this month to win antitrust approval for a European steel joint venture, including selling plants in Belgium, Spain and the UK. The two companies are trying ...

Bloomberg China’s exports rebounded after the Lunar New Year holiday amid a pickup in trade talks optimism, while a continued slide in imports underscored the fragility of the domestic economy. Exports jumped 14.2 percent in March from a year earlier while imports fell 7.6 percent in dollar terms, the customs administration said. That left a trade surplus of $32.65 billion, ...

Bloomberg To survive at Alibaba Group Holding Ltd. you need to work 12 hours a day, six days a week. That’s what billionaire Jack Ma demands of his staff at China’s biggest e-commerce platform. Ma told an internal meeting that Alibaba doesn’t need people who look forward to a typical eight-hour office lifestyle, according to a post on Alibaba’s official ...

Bloomberg Chevron Corp. agreed to buy Anadarko Petroleum Corp. in a $33 billion deal that adds US shale oil and African liquefied natural gas and puts it in the top ranks of the world’s largest energy companies. The takeover puts Chevron neck-and-neck with the oil and gas production of Exxon Mobil Corp. and Royal Dutch Shell Plc, both of which ...