International News

  Bloomberg General Motors Co. boosted incentives on its pickup models this month after its biggest foes gained ground, intensifying a price war within the US auto market’s most hotly contested segment. Discounts averaged about $6,996 for the Chevrolet Silverado and $5,315 for the GMC Sierra this month through February 12, according to J.D. Power dealer data obtained by Bloomberg ...

  Bloomberg US environmental chief Scott Pruitt unveiled plans to roll back at least three Obama-era rules at the EPA while vowing to give businesses “regulatory certainty.” Those policy reversals, set to start next week, will empower the Environmental Protection Agency to focus on its core mission of protecting the air and water, Pruitt said in a speech and question-and-answer ...

  Bloomberg Carlos Ghosn handed over the day-to-day running of Nissan Motor Co. to Hiroto Saikawa, who will take the mantle of president and chief executive officer while his long-time boss focuses on revamping struggling affiliate Mitsubishi Motors Corp. Ghosn, 62, will remain chairman of Nissan, a title he also holds at alliance partners Renault SA and Mitsubishi Motors. He’ll ...

  Bloomberg Santander Consumer USA Holdings Inc., one of the country’s biggest subprime auto lenders, has decided not to use GPS-tracking and ignition kill swi- tch technology as regulators clamp down on the devices, an executive said. Car lenders use the devices to help them find and repossess cars when borrowers default on loans, which is becoming increasingly common amid ...

  Bloomberg Aston Martin’s bet on a new $215,000 luxury coupe is paying off as surging demand for the DB11 has the carmaker projecting a revenue bump of as much as 37% this year ahead of a potential initial public offering. Orders for the DB11, which debuted a year ago at the Geneva motor show, paced a 48% jump to ...

  Bloomberg China will allow more companies to list on its stock market to boost support for its economy, the nation’s top securities regulator said, dismissing concerns that more supplies of shares can depress the market. The capital market’s recovery from a 2015 rout has been stronger than expected and is now ready for “appropriately” larger supplies of initial public ...

  Bloomberg South Korean household income grew at the slowest pace on record last year and spending fell for the first time, underscoring the challenge facing policy makers as they try to ignite a sluggish economy. Households’ average monthly income increased 0.6 percent in 2016 from the previous year to 4.4 million won ($3,884), the smallest gain since the statistics ...

  Bloomberg Singapore stock traders may finally get their lunch break back. Singapore Exchange Ltd., which runs the city’s equity market, is considering reinstating the midday intermission, according to people familiar with the matter. SGX in 2011 scrapped the break, which lasted from 12:30 p.m. to 2 p.m. every day, in an effort to boost trading. The bourse is expected ...

  Bloomberg Two mainland Chinese companies outbid Hong Kong’s largest developers with a HK$16.9 billion ($2.2 billion) offer for a rare residential waterfront site, the highest price ever posted in a government land sale. Logan Property Holdings Co. and KWG Property Holding Ltd. beat 13 other bidders including Cheung Kong Property Holdings Ltd. and Sun Hung Kai Properties Ltd., according ...

  Bloomberg In China’s manufacturing heartland Guangdong, clock maker Dannol Electronics Co. is grappling with higher input costs stemming from tougher environmental regulations. Already squeezed by years of rising wage bills and intensifying domestic competition, the company recently increased asking prices by an average of 15 percent for new customers and plans to do the same with older buyers soon. ...