Bloomberg Warburg Pincus, the private equity firm that’s been betting on the growth of the Asian logistics sector, is forming a joint venture to develop industrial properties in Vietnam. The New York-based firm and Vietnam’s Investment & Industrial Development Corp., the state-owned firm known as Becamex IDC, are committing more than $200 million to the partnership, Warburg Pincus said in ...

Bloomberg Millions of Chinese cram onto trains to make the annual pilgrimage home for the Lunar New Year holiday. It’s a crowded and often uncomfortable experience that is rapidly being transformed by the country’s push into the world of high-speed rail. China already has the globe’s longest bullet-train network, but it’s plowing 3.5 trillion yuan ($556 billion) into expanding its ...

Bloomberg US President Donald Trump proposed a $4.4 trillion federal budget for fiscal 2019, a plan Congress is expected to all but ignore that would slash entitlements and other domestic programs in favour of higher spending on the military and immigration enforcement. Trump’s $686 billion defense request for the coming fiscal year would propel the Navy towards a new goal ...

Bloomberg Amazon.com Inc. is cutting hundreds of jobs at its headquarters in Seattle, paring back older departments focused on selling goods online while hiring in newer lines of business like cloud computing and its Alexa platform. The reductions are part of a broader reorganisation at the company, but some see the moves as a shift towards using more robots and ...

Bloomberg International Business Machines Corp. called foul on Microsoft Corp’s hiring of its chief diversity officer in a case that elevates recruiting and promotion of an inclusive workforce to the level of safeguarding proprietary technology. IBM claims the information that Lindsay-Rae McIntyre possesses — including confidential data about diversity, strategies and initiatives — can cause “real and immediate competitive harm” ...

Bloomberg EMagin Corp. Chief Financial Officer Jeffrey Lucas said that Apple Inc. didn’t invest in the augmented-reality display component maker, contradicting a listing in a regulatory filing mentioning the technology giant. An EMagin filing with the Securities and Exchange Commission listing Apple among “specified investors” was reported by TechCrunch, Bloomberg News and others. The document, from Jan. 23, proposed an ...

China’s biggest tech companies are emblems of national pride. When the government decides upon a priority, Tencent Holdings Ltd., Alibaba Group Holding Ltd. and Baidu Inc. are often asked to help devise the technology to achieve it. The companies are generally spared from official criticism, let alone interference with their commercial operations. Those privileges aren’t absolute, however, as Tencent recently ...

The markets may have had bigger things to worry about last week than the Bank of England’s statement that interest rates will rise earlier than previously expected. But they were still stunned by the announcement. Such a hawkish turn would make perfect sense under normal circumstances; inflation is above the bank’s target and there is no sign that the global ...

Equity markets haven’t yet managed to shake off their difficulties. If this selloff persists, credit looks like it could well be the next frontier for trouble. You can’t have falling stocks and tightening credit spreads — it doesn’t make sense to have risk-off sentiment prevail in an incredibly liquid market alongside a risk-on approach in an illiquid one. Arguably it ...

Rarely has a round of wage negotiations been watched so closely as the recent dispute involving Germany’s IG Metall labor union. The agreement reached in Baden-Wuerttemberg with the Suedwestmetall employer’s federation, including a 4.3 percent raise from April and the right to a 28-hour working week, is a further sign that wage pressures are finally returning to the euro zone. ...