Bloomberg President Donald Trump’s attempt to wield US economic strength as a weapon against foreign adversaries is being tested as the Treasury Department struggles to contain the fallout from its sanctions against the world’s second-largest aluminum producer. The financial penalties imposed on Russia’s United Co. Rusal in April were intended to punish its majority owner, billionaire Oleg Deripaska, as well ...

Bloomberg A UK lawsuit filed against Google by millions of iPhone users over data-collection claims was thrown out by a London judge. The group, known as Google You Owe Us, were seeking as much as 3.2 billion pounds ($4.2 billion), according to documents filed with the court in May. The organisation, which represents more than 4 million people, said the ...

Bloomberg Services firms in the UK are giving up on attempts to hire new staff as business confidence plummets ahead of the nation’s impending exit from the European Union, the British Chambers of Commerce said in its quarterly economic survey. The percentage of service firms attempting to recruit is at its lowest level in quarter of a century, and even ...

Bloomberg A slump in Italian assets deepened after a tug-of-war between the government and the European Union over its budget intensified. Yields on benchmark 10-year bonds rose above 3.5 percent for the first time in four years while stocks approached a bear market after the European Commission said the populist coalition’s plans for a wider deficit are in breach of ...

Bloomberg General Electric Co., a prolific dealmaker throughout its 126-year history, began the biggest reorganization ever under Chief Executive Officer John Flannery. Then Flannery was gone. His restructuring campaign was interrupted after just 14 months when he was replaced by Larry Culp in a surprise ouster last week. Before Flannery left, he had announced at least 17 divestitures and spinoffs ...

Bloomberg US Secretary of State Michael Pompeo cited “fundamental disagreement” with China’s foreign minister during a testy exchange in Beijing that highlighted rising tensions between the world’s two largest economies. Pompeo’s retort came after Chinese Foreign Minister Wang Yi accused the US on Monday of escalating trade disputes, interfering on Taiwan and meddling in the country’s domestic affairs. “These actions ...

Bloomberg A clandestine bribery investigation into Interpol’s first Chinese president has put a new spotlight on the country’s opaque legal system and undercut Beijing’s efforts to build prestige in the global law enforcement community. The Chinese Ministry of Public Security said on Monday that former Interpol President Meng Hongwei was being investigated under suspicion of accepting bribes and violating other ...

Bloomberg The Taliban has called on its supporters to block this month’s parliamentary elections in Afghanistan, describing the October 20 vote as a “malicious American conspiracy.” The militant group vowed to create “severe obstacles” to prevent the elections from going ahead, spokesman Zabihullah Mujahed said in an emailed statement. The poll was a conspiracy to deceive Afghans and achieve “the ...

Bloomberg Jair Bolsonaro, the divisive, far-right former Army captain, stormed to a huge lead in the first round of Brazil’s presidential elections as voters enraged by years of recession, corruption scandals and soaring crime rallied around his strongman message. The result puts the seven-time congressman on track for victory in the decisive, second-round vote on October 28, when he will ...

Bloomberg Nationalists prevailed in elections for Bosnia’s multi-ethnic, power-sharing institutions in victories that are sure to further fuel distrust and tension in a country that’s been divided since a devastating war in the 1990s. The Balkan nation of 3.5 million people has flirted with spiraling back into crisis since agreeing to a US-brokered peace pact in 1995 that left the ...