Bloomberg Donald Trump, who spent the past two years wielding the powers of the presidency unbound by party or political convention, is now constrained. The Democratic takeover of the House of Representatives cripples his conservative agenda and opens the way for unfettered investigations into his scandal-plagued administration, his presidential campaign and his family’s business empire. His personal tax returns may ...

Bloomberg Italy’s populist government called a vote of confidence in parliament, as proposals to curb immigration and corruption fueled tensions between the coalition’s allies. Deputy Premier Matteo Salvini of the anti-migration League is pushing for restrictions on the rights of asylum-seekers, while several senators of the anti-establishment Five Star Movement are against the measures. The vote of confidence in the ...

Bloomberg Meetings between US Secretary of State Michael Pompeo and North Korean officials planned for later this week have been postponed, in a new sign of tension as the regime seeks sanctions relief before taking key disarmament steps. US State Department Spokeswoman Heather Nauert said in a statement that meetings with North Korean official Kim Yong Chol scheduled for Thursday ...

Bloomberg Prime Minister Scott Morrison is vowing to put the Pacific islands at the center of Australia’s strategic outlook, amid concerns its influence in the region is waning as China increases its diplomatic and economic presence. The pivot towards the region will see the Australian Defence Force create a Pacific Mobile Training Team to undertake more engagem- ent with other ...

Bloomberg UK Prime Minister Theresa May is preparing to ask the cabinet to approve a draft Brexit deal potentially within days, if she can overcome new resistance to her strategy from euroskeptic Tories in her team. During a cabinet meeting in London, ministers including the pro-Brexit campaigner Michael Gove demanded to see the full government legal advice underpinning a plan ...

Bloomberg US equity futures jumped, the dollar dropped and Treasuries climbed as investors seemed to cheer on an outlook for political gridlock in the wake of the American midterm elections. Risky assets were in favour after results showed Democrats winning control of the House of Representatives and Republicans holding on to the Senate. The outcome dims chances for any more ...

Bloomberg The crowd has yet to disperse. At the end of the worst month in seven years, hedge funds showed few signs they’ve soured on the technology and consumer stocks at the heart of the sell-off. The opposite, in fact: Goldman Sachs data show those groups were the most heavily bought in the last five days of October. Client notes ...

Bloomberg SoftBank Group Corp. is seeking to raise a record 2 trillion yen ($18 billion) from Japanese individuals in the initial public offering (IPO) of its mobile phone unit, targeting investors who often get no interest on their savings, said people familiar with the matter. Nomura Holdings Inc., a joint global coordinator, will sell the biggest part of the shares ...

Bloomberg The ability to communicate, shop online, order rides, read books, play games, get food delivery and pay for anything within a single, unified smartphone app is Asia’s defining innovation, technology leaders said at Bloomberg’s New Economy Forum in Singapore. WeChat, Grab and Go-Jek are prime examples of a breed of software called the Super App. In the US and ...

Bloomberg A Chinese government official has sounded the most direct warning yet about the nation’s slumping car industry. China’s vehicle sales will come in under 30 million units this year and may even fall below the number in 2017, Wu Wei, a divisional director under China’s top economic planning body, said on Wednesday. Companies shouldn’t expand production capacity blindly, and ...