International News

  Bloomberg US subprime auto lenders are losing money on car loans at the highest rate since the aftermath of the 2008 financial crisis as more borrowers fall behind on payments, according to S&P Global Ratings. Losses for the loans, annualized, were 9.1 percent in January from 8.5 percent in December and 7.9 percent in the first month of last ...

  Bloomberg Toronto may be next on the list of global cities with a tax on home purchases by foreigners as government officials search for ways to cool scorching price gains. Ontario Finance Minister Charles Sousa surprised many, saying he was reconsidering imposing a tax to curb price increases that have accelerated in Canada’s biggest city, reversing a stance last ...

  Bloomberg Iceland has fought wars to pro- tect its fishermen, most recently against the UK in the 1970s. Now, a record inflow of foreign tourists is threatening the industry that once built this tiny north Atla- ntic country. The flood of sightseers, volcano watchers and glacier trekkers is lifting the national currency, pushing up the price of Icelandic fish. ...

  Bloomberg China’s biggest SUV maker is reconsidering its plan to build an auto plant in Mexico that would have made its best-selling vehicles for the US market, joining a growing list of global automakers reviewing investment plans after tax threats by President Donald Trump. Great Wall Motor Co., led by billionaire Chairman Wei Jianjun, may choose the US instead ...

  Bloomberg Indian sugar mills have recommended the government limit the volume of imports if it decides to purchase sweetener from overseas. ISMA said if the government “wants to import for their own comfort, not more than 400,000 to 500,000 tons of sugar should be allowed to be imported” and priority should be given to domestic mills in the country’s ...

  Bloomberg Volkswagen AG plans to team up with Tata Motors Ltd. on joint projects in India, renewing the German automaker’s push to boost its presence in emerging markets after its previous efforts failed to gain traction. Tata and the European carmaker’s Skoda division will initially work together on market studies for developing mobility services, vehicle components and models, Wolfsburg-based ...

  Bloomberg Senator Lisa Murkowski said President Donald Trump is interested in opening up new coastal waters for oil and gas drilling and reversing Obama-era policies that restrict energy development in Alaska. Both Trump and Interior Secretary Ryan Zinke are weighing ways to expand opportunities to drill in Arctic waters though the changes could take years to accomplish administratively, Murkowski ...

  Bloomberg BHP Billiton Ltd. has sent a formal request to meet with union leaders at the world’s largest copper mine in Chile, the first attempt to meet since talks failed on February 20, the company said in an emailed statement. BHP wants to propose a new wage offer that includes improvements in several areas that the union has said ...

  Bloomberg Uber Technologies Inc. failed to persuade a judge to approve a settlement offering 1.6 million California drivers an average of $1.08 each to dispense with alleged labor-code violations that their lawyer earlier claimed might have been worth billions of dollars. Los Angeles Superior Court Judge Maren Nelson issued a tentative ruling rejecting a deal aimed at resolving one ...

  Bloomberg As one of Asia’s fastest-growing economies and the most populous Muslim nation in the world, Indonesia is billing itself as a natural home for Middle Eastern investment at a time when the US is turning inward. With a landmark visit by Saudi Arabia’s King Salman bin Abdulaziz to Southeast Asia winding down this week, Indonesia has won pledges ...