Bloomberg Chinese billionaire Li Shufu spent the past decade expanding his auto empire buying Volvo, a stake in Daimler AG and a startup that is building flying cars. Now he’s looking to reinvent the bullet train. Li’s Zhejiang Geely Holding Group signed an agreement on Tuesday with state-owned China Aerospace Science and Industry Corp. to build “supersonic trains” using homegrown ...

Bloomberg The US gave a stark warning to companies around the world: Evading sanctions on Iran will hurt. “I promise you that doing business in Iran in defiance of our sanctions will ultimately be a much more painful business decision than pulling out of Iran,” Secretary of State Michael Pompeo said at a news conference in Washington, after the US ...

Bloomberg Euro-area companies entered the final stretch of 2018 the most despondent in almost four years, burdened by protectionism and sliding markets. IHS Markit’s Purchasing Manager’s Index for manufacturing and services fell to 53.1 in October, the worst since September 2016, and a gauge of the business outlook fared even worse. “Expectations have slumped to the bleakest since the end ...

Bloomberg Verizon Communications Inc. unveiled a reorganisation focussed on three groups — consumers, business customers and media — as part of Chief Executive Officer Hans Vestberg’s plan to advance 5G wireless technology. Vestberg, who spent his entire career at communications-equipment maker Ericsson AB before coming to Verizon in April 2017, is making network technology a priority throughout the company. Fifth-generation ...

Bloomberg General Electric Co. is in talks to sell its commercial lighting division to American Industrial Partners, according to people familiar with the matter, as the manufacturer continues on its divestiture blitz. GE and AIP could announce a deal for the unit, which is known as Current, Powered by GE, as early as this week, said the people, who asked ...

Bloomberg The “deal dividend” promised to Britain by Chancellor of the Exchequer Philip Hammond might be tantalisingly close amid signs an amicable divorce from the European Union could be within sight. Hammond said that a Brexit agreement would allow him to end austerity. Bank of England Governor Mark Carney said the economy would finally see a way through the fog ...

Bloomberg The Kremlin sought to limit damage from another apparent snub after plans fell through for a meeting in Paris between Russian President Vladimir Putin and US leader Donald Trump. Russian officials have pinned their hopes on personal contacts between the two leaders to help achieve a long-sought warming in relations with the US that plunged to their worst since ...

Bloomberg French authorities probing a planned attack on President Emmanuel Macron made six arrests on Tuesday, according to a person familiar with the matter. The planned attack on Macron was not well-defined at this stage, said the person, who asked not to be named as the status of the probe is confidential. A preliminary investigation is being run by Paris ...

Bloomberg Tunisian President Beji Caid Essebsi has rejected a cabinet reshuffle announced by the prime minister, escalating a political deadlock between the former allies as the government struggles to revive an economy saddled with high inflation and a financial crisis. Prime Minister Youssef Chahed announced the appointments in a speech on state television, in an effort to shore up support ...

Bloomberg Veteran Labour politician Peter Mandelson expects the UK to end up with only loose ties to the European Union after leaving the bloc. “It’s almost certain that we’re going to end up with some form of hard Brexit,” Mandelson, who served in the governments of former Prime Ministers Tony Blair and Gordon Brown, told Bloomberg Television at the New ...