Bloomberg The man accused of looting billions from Malaysian investment fund 1MDB may be missing from the public eye, but he’s not keeping quiet. Low Taek Jho, wanted in Malaysia and Singapore and described by US prosecutors as orchestrating the theft of $4.5 billion from 1MDB, is proclaiming his innocence on his website launched on Monday. “With hindsight I may ...

Bloomberg A little more than a year ago, China released an aggressive plan to become the world’s leading artificial intelligence player. But with its technological dependence on the US laid bare, it’s now promoting a softer approach, calling for all nations to join hands to develop the technology. Chinese leaders, including Vice Premier Liu He, joined business mogul Jack Ma ...

Bloomberg Mixed messages coming from the US on the trade war with China could sink prospective negotiations before they begin, damaging prospects for a resolution to the growing dispute. With President Donald Trump telling aides to proceed with additional tariffs on Chinese products, the Chinese government is considering declining the offer of talks, according to a Wall Street Journal report, ...

Bloomberg The British Chambers of Commerce lowered its forecast for the UK economy for the next two years, citing a weaker outlook for trade and investment on uncertainty over exiting the European Union. The UK business lobby expects growth of 1.1 percent this year, down from a previous forecast of 1.3 percent, and cut its 2019 outlook to 1.3 percent ...

Bloomberg Fiat Chrysler Automobiles NV will evaluate other potential buyers for its Magneti Marelli parts unit because the carmaker views a bid made by KKR & Co. as too low, people familiar with the matter said. KKR offered less than the $7 billion minimum valuation sought by Fiat, which ended the exclusivity of the talks, said the people, who asked ...

Bloomberg Fixing production at Tesla Inc. is one thing. Now Chief Executive Officer Elon Musk is struggling to get cars to customers. “We’ve gone from production hell to delivery logistics hell,” Musk said in a Tweet. Musk said resolving that problem would be easier than addressing assembly-line issues. Musk narrowed the paint options on new electric vehicles, his latest effort ...

Bloomberg Americans are divided over whether US college endowments should have to pay a new federal tax, according to a national survey on higher education. Fifty percent of respondents sided with the wealthy private schools while 43 percent agreed the tax should be levied, and 7 percent were unsure, according to data published on Monday by Boston public media producer ...

As the trade war between the US and China drags on with new tariffs and no end in sight, we need to ask ourselves: What do they want? A fundamental objective for both is to become less reliant on the other. The trade war should thus be reframed as a conscious uncoupling. Behind the rhetoric from both sides lies a ...

Ten years after a crisis that brought the world to the brink of Armageddon, the people overseeing the world’s largest economy insist they’ve reduced the risk of another financial disaster. Just one problem: We need a different financial system, not just better risk management. I had a front-row seat for the watershed event of the 2008 crisis, the failure of ...

Everyone remembers where they were a decade ago, right? I’m not talking about the collapse of Lehman Brothers. I mean the Bitcoin white paper of Oct. 31, 2008. It outlined a type of online peer-to-peer electronic cash that would bypass financial institutions — which the author blamed for abusing people’s trust, creating credit bubbles, and charging big fees. Ironically, Bitcoin ...