International News

  Bloomberg This may be as good as it gets for the Australian dollar, the best-performing Group-of-10 currency this year. The drivers behind the Aussie’s two-month rally are being eroded as iron ore shows signs of topping out and Australia’s yield advantage over the US shrinks. The currency is almost 5 percent overvalued based on regression analysis linking it with ...

  Bloomberg China, which tightly censors the internet, called on Thursday for a new model for governing the web based on rules and order rather than the unfettered access seen in democratic societies. Speaking in Beijing, foreign ministry and cyberspace affairs officials made China’s latest argument for being a global leader in managing the internet. Unveiling the country’s first cyber ...

  Bloomberg Two years after Switzerland suffered a surge in the franc, the currency is still proving a challenge. While the move in 2015 didn’t cause a recession, the Swiss economy remains burdened with the aftermath: an exchange rate that the central bank continues to describe as “significantly overvalued.” That picture was reinforced by data on Thursday showing exports recorded ...

  Bloomberg Yahoo is punishing CEO Marissa Mayer and parting ways with its top lawyer for the mishandling of two security breaches that exposed the personal information of more than 1 billion users and already have cost the company $350 million. Mayer won’t be paid her annual bonus nor receive a potentially lucrative stock award because a Yahoo investigation concluded ...

  Bloomberg UK manufacturing growth slowed for a second month in February and price pressures cooled, a sign that the effects of the pound’s drop may be easing. IHS Markit’s Purchasing Managers Index fell to 54.6 from a revised 55.7, above the 50-mark dividing expansion from contraction but below economists’ expectations for 55.8. The pound’s fall since the UK’s June ...

  Bloomberg Euro-area inflation accelerated to the fastest pace since January 2013, providing fresh arguments to those calling for an exit from the European Central Bank’s monetary stimulus program. Consumer prices rose 2 percent in February from a year earlier, the European Union’s statistics agency in Luxembourg said on Thursday. That matched the median estimate of 47 analysts surveyed by ...

  Bloomberg Morgan Stanley’s real estate investing unit plans to sell its stake of almost 12 percent in the London skyscraper known as the Walkie Talkie, according to three people familiar with the plan. China Investment Corp., which owns a portion of the 20 Fenchurch Street building, is considering bidding for the stake, which is valued at about 120 million ...

  Bloomberg Toshiba Corp. is sending letters soliciting offers for its memory chip business this week and seeking bids that value it at about 1.5 trillion yen ($13 billion), according to people familiar with the matter. The Japanese conglomerate is offering a majority stake in the chip unit and would be willing to sell the entire business, said the people, ...

  Bloomberg China’s official factory gauge firmed in February as producer prices rebounded, giving top officials gathering in Beijing a solid economic backdrop as they seek to rein in financial risk. Manufacturing purchasing managers index climbed to 51.6 in February, compared with a median estimate of 51.2 in a Bloomberg survey of economists and 51.3 in January. Non-manufacturing PMI stood ...

  Bloomberg India’s economy is forecast to slow less than estimated as banks work to replace cash sucked out by Prime Minister Narendra Modi’s shock clampdown in November. Gross domestic product will probably grow 7.1 percent in the year through March after a 7.9 percent expansion the previous year, the Statistics Ministry said in a statement in New Delhi. While ...