Bloomberg NIO Inc., the Chinese electric-car maker backed by Tencent Holdings Ltd., is planning a US initial public offering that would give it a valuation topping $8 billion as it gears up to take on the likes of Tesla Inc. The company is aiming to raise as much as $1.3 billion, offering 160 million American depositary shares at $6.25 to ...

Bloomberg Jerome Powell’s upcoming Asia visit will test the Federal Reserve chief’s appetite for risk on a far different scale to the US economy. As Indonesia prepares to host the International Monetary Fund and World Bank Group annual meeting on the island of Bali in October, authorities are planning for all sorts of potential natural disasters from earthquakes to tsunamis, ...

Bloomberg China’s ride-hailing giant Didi Chuxing issued a public letter of apology and said it would prioritise safety over growth after a second passenger in three months was allegedly murdered by a driver while using its services. “Today, Didi will stop using scale and growth as our measurement of success,” the company said in a statement from Chairman Cheng Wei ...

Bloomberg Mayalyn Magracia is one of millions of undocumented Filipinos. “Like an alien,” is how the housekeeper in Manila describes what she felt when she discovered she had no birth record. That was over a decade ago, when Magracia hoped to find work in a factory or restaurant. Having no birth certificate made it impossible to apply for a government-issued ...

When President Donald Trump announced a trade pact with Mexico to replace the North American Free Trade Agreement, attention immediately turned to Canada. But it’s in China — which wasn’t mentioned — that the greatest impact could be felt. In abandoning Nafta, the US appears to be moving towards a single trade bloc that might also embrace Canada. The Mexico ...

Is China falling out of love with its unicorns? The country is home to four of the world’s 10 most valuable startups, according to CB Insights. Its companies raised about $31 billion from venture capital in the second quarter, beating the US for the first time, Goldman Sachs Group Inc estimates. But the biggest of all, Didi Chuxing, is facing ...

Investors are treating the Japanese industrial giant Fanuc Corp. like a manufacturer of largely redundant machinery. That only makes sense if you have doubts about Apple Inc. and Toyota Motor Corp. Fanuc’s stock is down almost 40 percent from its January peak. Much of the decline reflects investor doubts about the smartphone, as one of the Japanese company’s biggest divisions ...

Patrick Drahi probably didn’t have much choice. The billionaire founder and president of Altice Europe NV plans to sell a stake in the high-speed fiber networks of the company’s French carrier, SFR. It’s one way for the highly levered firm to secure the cash it needs to fund the next generation of networks — and probably the best way at ...

What’s wrong with the dollar? Barely two weeks ago the Bloomberg Dollar Spot Index reached its highest since June 2017. President Donald Trump tied the strength to confidence in the US, boasting in a tweet on August 16 that “money is pouring into our cherished DOLLAR like rarely before.” But since then the greenback dropped as much as 2.2 percent, ...

As the American stock market stages its longest bull run in history, investors in China can only look on with envy. In preparation for a lengthy trade war with the US, Beijing has shifted back to a pro-growth stance. The People’s Bank of China revived a measure to support the weakening yuan, while the Ministry of Finance is ready to ...