Bloomberg China’s monthly trade surplus with the US rose to a record in June and exports to the nation also soared, underlining the cause of an escalating trade war between the world’s two largest economies. The trade surplus with the US was $28.97 billion, the highest in any month in data back to 1999. Exports climbed to $42.62 billion, also ...

Bloomberg MCH Group AG, the owner of Art Basel, is launching a new art fair in Singapore starting next year to take advantage of the growing wealth in Asia, which is minting millionaires faster than any other region in the world. The new expo, called ART SG, will hold its inaugural event in November 2019 with about 80 galleries from ...

Bloomberg Secretary of State Michael Pompeo and Treasury Secretary Steven Mnuchin rejected a request from European leaders for broad-based waivers from sanctions the US will reimpose on countries that do business with Iran after the President Donald Trump backed out of the 2015 nuclear accord. In a letter whose contents were described to Bloomberg News, Pompeo and Mnuchin told the ...

Bloomberg Rupert Murdoch’s Inc. boosted its bid for Sky Plc, raising the stakes for Comcast Corp. to retaliate in a battle for control of Britain’s top pay-TV company. Fox offered £14 per share to value Sky at £24.5 billion ($32 billion), 12% more than Comcast’s rival £22 billion offer. Sky shares fell as much as 2% as some investors had ...

Bloomberg Google’s latest European Union (EU) woes could mean opportunity knocks for app developers stymied by contracts that pre-install the US giant’s own services on Android phones and tablets, according to analysts and companies. The Alphabet Inc. unit is expected to face an antitrust fine over Android in the coming days that could top last year’s record 2.4 billion-euro ($2.8 ...

Bloomberg Hudson’s Bay Co. said it will stop selling Ivanka Trump’s goods at its Canadian namesake stores, citing slow sales. The Toronto-based company, which also owns Saks Fifth Avenue and Lord & Taylor, will phase out the brand at its namesake chain and website this fall, a spokeswoman said in a statement. Hudson’s Bay operated about 90 stores across Canada ...

Bloomberg American Tire Distributors (ATD) Inc., seeking to bolster itself after two of the biggest brand names pulled their business, said other suppliers will fill the gap and that it’s already posted sales gains in the first half of this year. ATD, North America’s largest tire distributor, had “strong success” in converting to other suppliers and has a “robust pipeline ...

The untold story of the world economy — so far at least — is the potentially explosive interaction between the spreading trade war and the overhang of global debt, estimated at a staggering $247 trillion. That’s “trillion” with a “t.” The numbers are so large as to be almost incomprehensible. Households, businesses and governments borrow on the assumption that they ...

I lost 120 Twitter followers overnight. President Donald Trump lost 340,000, the New York Times 732,000, former President Barack Obama 3 million or so. Even Twitter’s chief executive officer, Jack Dorsey, lost 200,000 in his company’s much-hyped crackdown on dubious accounts. But what looks like a major purge is more like a public relations onslaught, as Twitter and Facebook try ...

The world’s biggest bond market just doesn’t know what to do with the prospect of an all-out trade war instigated by the US. On one side, there’s a strong argument that tariffs among the largest economies will stifle the global expansion and push yields in the $15 trillion Treasury market lower. Those concerns are appearing in the price of copper, ...