Bloomberg European equities retreated at the open as Fiat dropped on the news of a change in chief executive and as investors considered President Donald Trump’s new tariff threats. The Stoxx Europe 600 Index declined 0.3 percent, with the automakers and travel sectors pacing the retreat. Fiat Chrysler Automobiles NV fell 4 percent after Mike Manley was named CEO to ...

Bloomberg India’s move to slash levies on more than 50 goods will lower revenue by as much as $2.2 billion each year and is raising the prospect of the country missing budget goals again this year. A panel of federal and state finance ministers cut the goods and services tax on items from washing machines and lithium ion batteries to ...

Bloomberg Megvii Inc., the Chinese developer of facial recognition system Face++, is said to be raising at least $600 million from investors including Alibaba Group Holding Ltd. and Boyu Capital, according to people familiar with the matter. The Beijing-based company, which already counts billionaire Jack Ma’s Ant Financial and one of China’s largest state-backed venture funds as investors, will close ...

Bloomberg Philippine President Rodrigo Duterte called on lawmakers to pass legislation that will help cool the fastest inflation in five years and spread wealth and power beyond the capital region. In his annual address to Congress, Duterte asked both chambers to prioritise the measure that will remove caps on rice imports to augment supply and cut the price by as ...

Bloomberg China’s battle to cut notorious air-pollution levels is hurting sales of air purifiers by Royal Philips NV. Revenue from the machines that capture harmful fine particles in homes dropped by a high-single-digit amount in China, in the second quarter, the Dutch maker of hospital scanners and medical gear said in a statement. That left distributors scrambling to adjust inventories. ...

Bloomberg Senegal’s decision to become the first African country on the Atlantic coast to sign up to the Belt and Road Initiative shows how quickly the transport network project connecting China by land and sea to Asia, the Middle East, Europe and Africa is expanding. Lending by China to Africa rose to about $12 billion in 2015 from little more ...

Bloomberg A deadly heat wave across Asia is stretching electricity grids from southern China up to Tokyo and Seoul, sending prices to multiyear highs and sparking warnings of more power stress to come. Japan breached records above 41 degrees Celsius (106 Fahrenheit) as the heat that’s been blamed for at least 15 deaths this month pushed electricity rates to the ...

Bloomberg US President Donald Trump launched a new broadside against Iran, warning of unspecified “consequences” if Hassan Rouhani continues threatening America. In a Twitter post, Trump said, “To Iranian President Rouhani: Never, ever threaten the United States again or you will suffer consequences the likes of which few throughout history have ever suffered before. We are no longer a country ...

Bloomberg Ethiopia has “no option” but to open up its politics for multiparty democracy in order to secure lasting progress, Prime Minister Abiy Ahmed said. Ahmed spoke while meeting in the capital of Addis Ababa with nearly 50 political parties, including four from overseas, “who demanded reform to include election laws,” Fitsum Arega, the prime minister’s chief of staff, said ...

Bloomberg Malaysia’s youth are likely to get more power after backing 93-year-old Mahathir Mohamad to topple a regime that ruled the Southeast Asian nation for six decades. Malaysia is “very serious” about reducing the voting age to 18 before the next elections due by 2023, Youth and Sports Minister Syed Saddiq Syed Abdul Rahman, 25, told Bloomberg in an interview ...