Bloomberg The World Bank and China have held talks on how they can finance projects in Africa together, the lender’s vice president for the continent said. “We think it’s a good thing the continent has different sources of financing,” Hafez Ghanem said in an interview in Abidjan. “In my discussions with the Chinese authorities, we were looking at how we ...

Bloomberg The trade dispute between the US and China will continue for the foreseeable future and escalate, and is going to be painful for Americans, according to a former US trade negotiator. “For the foreseeable future, we’re going to be in a tariff world and we’ll see escalation,” said Asia Society Vice President Wendy Cutler, formerly a negotiator at the ...

Bloomberg A so-called Brexit without a trade deal between the UK and the European Union could cost the car industry and consumers at least $6.7 billion a year in vehicle tariffs, according to a report by a British industry group. The Society of Motor Manufacturers and Traders said the estimate is based on levies of 10 percent on cars exports ...

Bloomberg Tesla Inc. could raise funds as soon as this year as Elon Musk’s company ramps up production and prepares for maturing debt, analysts at Morgan Stanley predict. The company, whose stock has slumped 25 percent in the past six weeks amid a string of controversies, could raise $2.5 billion in equity in the fourth quarter from investors that have ...

Bloomberg The European business of coffee chain Starbucks Corp. paid an effective UK tax rate of 2.8 percent last year after a payment from another part of the company boosted profits, the Financial Times reported. The company paid $5.9 million in UK taxes on a profit of $213 million in the year ended October 2017, down from earnings of $219 ...

Bloomberg London house prices posted their biggest drop in almost a decade in July. Home prices fell 0.7 percent, the biggest decline since September 2009, the Office for National Statistics said. The average property in the capital cost $640,000. Trends in the London property market tend to start in boroughs in the centre and west of the city, before moving ...

Bloomberg As US household debt rises and wages stagnate, millions of Americans are tapping into home equity to keep up with day-to-day expenses. Twenty-four million homeowners believe borrowing against home equity is an acceptable way to cover regular bills, according to a Bankrate.com report. Cash-strapped millennials, low earners and the less educated were most likely to think home equity offered ...

Bloomberg U.S. stocks fluctuated, while Treasuries fell as investors turned attention to the latest Nafta talks. The dollar edged lower. The S&P 500 Index was mixed as technology firms weighed on benchmarks, led by semiconductor maker Advanced Micro Devices Inc., while banks paced gains as the 10-year Treasury yield advanced above 3.07 percent. The dollar fell against most peers and ...

Bloomberg Japan’s Topix index completed its biggest advance over a four-day period since November 2016 while the yen remained near a two-month low against the dollar as investors brushed off concerns of a trade war between the US and China. Electronics and machinery shares were the biggest boosts to the benchmark as China’s Ministry of Finance said Beijing is still ...

Bloomberg Euro-area banks probably won’t restore their profits to the peaks seen before the 2008 financial crisis, according to the European Central Bank. The squeeze on profits has resulted from factors including tougher capital requirements put in place since the crisis and banks’ shying away from riskier businesses, the ECB said. Still, firms need to earn an “appropriate return” on ...