International News

BLOOMBERG Singapore’s top trade official said the city-state is willing to facilitate a dialogue between the US and China to repair their relationship, as he described growing tensions between the world’s biggest economies as detrimental to the world. US-China tensions “have serious consequences for the rest of the world,” Gan Kim Yong, Singapore minister for trade and industry, told Bloomberg ...

BLOOMBERG UK Prime Minister Rishi Sunak’s deal to solve the bitter dispute with the European Union (EU) over Northern Ireland’s trading arrangements has sparked hope in the City of London that the two sides could finally formalise a pledge to work together on setting rules for banks and financial markets. The so-called memorandum of understanding (MOU) on financial rules may ...

BLOOMBERG Deutsche Bahn AG has selected Goldman Sachs Group Inc and Morgan Stanley to advise on the potential sale of its DB Schenker logistics unit, which could be valued at as much as €20 billion ($21.3 billion), people with knowledge of the matter said. The German railroad operator is set to formally hire the two banks after a weeks-long pitching ...

BLOOMBERG Hungarian consumer price growth slowed for the first time in 19 months, giving policy makers room to consider when to start reducing the European Union’s highest key interest rate. Headline inflation, the EU’s fastest, slowed to 25.4% in February from 25.7% the month before, the statistics office said. The data matched the estimate in a Bloomberg survey. It’s too ...

BLOOMBERG Starbucks Corp is investing £30 million ($36.1 million) to open and renovate coffee shops in the UK, pushing on with expansion in a market where profit has dropped due to soaring costs of coffee beans and labour. Starbucks aims to add 100 stores in the UK in the next year, the US coffee chain said as it reported results ...

BLOOMBERG German Chancellor Olaf Scholz said talks were constructive with the European Union in resolving a dispute over plans to ban new combustion-engine cars in the bloc from 2035, after Berlin derailed the effort this past week. Scholz met with European Commission President Ursula von der Leyen on the sidelines of a government retreat in Meseberg north of Berlin. The ...

BLOOMBERG Britain’s chronic problem with people dropping out of the workforce will only get worse over the next three years because the population is changing shape, according to the Office for National Statistics (ONS). By 2026, there will be 726,000 more inactive people in the UK aged 16 to 64 than before the pandemic, the government’s statistics office said. The ...

BLOOMBERG Tesla Inc’s shipments from its China factory climbed in February as price cuts attracted buyers and consumer spending kicked back into gear following massive Covid outbreaks across the nation in January. The US electric vehicle pioneer delivered a total of 74,402 vehicles from its Shanghai facility last month, preliminary data from China’s Passenger Car Association showed. That’s a 32% ...

BLOOMBERG The Biden administration announced export restrictions for dozens of Chinese entities, including server maker Inspur Group Co and units of genetics firm BGI, citing activities contrary to US national security and foreign policy interest. The Commerce Department added a number of companies to the so-called Entity List for acquiring or attempting to acquire US-origin items in support of China’s ...

BLOOMBERG The European Union (EU) delayed a key vote on an effective ban on combustion-engine cars after Germany unexpectedly voiced last-minute objections amid concerns about how the bloc’s green plans will affect industry. EU and German officials are in talks over how to reach a compromise over allowing the use of e-fuels in new cars after 2035, and there were ...