Bloomberg China Tower Corp., the state-owned wireless infrastructure owner, raised $6.9 billion after pricing its Hong Kong initial public offering at the low end of a marketed range, people with knowledge of the matter said. The Beijing-based company sold 43.1 billion shares at HK$1.26 apiece in the IPO, the people said, asking not to be identified because the information is ...

Bloomberg Chancellor Angela Merkel’s government for the first time vetoed a possible Chinese takeover of a German company, signalling a toughening stance toward investments from the country. Merkel’s Cabinet voted to block the potential purchase of German machine tool manufacturer Leifeld Metal Spinning AG Chinese company Yantai Taihai Group, according to person familiar with the matter who declined to be ...

Bloomberg Huawei Technologies Co. pulled ahead of Apple Inc. to claim the No. 2 position in global smartphone shipments in the second quarter just behind Samsung Electronics Co., solidifying the rise of Chinese competitors. Huawei shipped 54.2 million phones in the quarter, 41 percent more than a year earlier, to jump ahead of the iPhone maker for the first time, ...

Bloomberg Apple Inc. shares jumped 3.5 percent in pre-market trading after the company projected sales that suggest consumers are still snapping up the company’s high-end iPhones even as updated models are on the horizon. The Cupertino, California-based technology giant said it expects fiscal fourth-quarter revenue between $60 billion and $62 billion. Analysts were looking for $59.4 billion, according to Bloomberg ...

Bloomberg Volkswagen AG warned that it will take a huge effort to meet its profit goals this year, as the world’s largest automaker battles trade tensions and stricter emissions rules. Tougher pollution-testing procedures, aimed at preventing a repeat of Volkswagen’s diesel-cheating scandal, will take effect next month and lead to delivery delays. The German manufacturer is also bracing for higher ...

Bloomberg UK manufacturing growth slowed more than expected last month, casting doubt on the strength of the economy as Bank of England policy makers hold their crunch meeting. IHS Markit’s Purchasing Managers Index for the industry fell to a three-month low of 54 in July, from 54.3 in June, the firm said in a report. The reading was below economists’ ...

Bloomberg The White House isn’t actively considering the Treasury Department’s push to issue a rule that would slash tax bills for investors who have investment income, according to a person familiar with the discussions. Treasury Secretary Steven Mnuchin told the New York Times earlier this month that his agency was looking at whether it could sidestep Congress to allow capital ...

Bloomberg Avison Young Canada has bought London-based real estate services firm Wilkinson Williams LLP, its first deal since receiving a $190 million investment by a big Canadian pension fund earlier this month. Wilkinson Williams represents landlords and tenants across the UK and has acted as an adviser on retail and supermarket leases. Last year, the firm advised clients on investment ...

Bloomberg Uber Technologies Inc. is partnering with security and insurance company Chubb Ltd. to cover its South African drivers in case of death or injury as violent attacks plague the country’s cities. The new deal will pay out a lump sum to the family in case of death, or to the driver if he or she is permanently disabled, the ...

Bloomberg Manufacturers in some of the world’s biggest economies are putting the brakes on production as they watch trade disputes with the US unfold. Reports showed factory activity from the Asia Pacific region to Europe slowed last month. With companies issuing warnings about the impact of tit-for-tat battles over import tariffs on their profits, the data suggest that protectionist threats ...