International News

  Bloomberg JSW Group, an Indian conglomerate with interests in metals to power generation, plans to venture into electric cars by 2020 on expectations the government will promote such vehicles and falling battery prices will make them more affordable. The Mumbai-based group will set up the electric-vehicle business on its own and initially buy batteries from suppliers, Chairman Sajjan Jindal, ...

  Bloomberg Few people are more eager for Donald Trump’s arrival in the White House than those who do business in Russia. Hacking scandals? They expect that to blow over. Conflict in Ukraine? An artificial problem invented by Barack Obama, they argue. Russian magnates and American investors alike are anticipating a Trump administration that removes punishing sanctions, frees up access ...

  Bloomberg California sent a warning shot in a potential showdown with the incoming Trump administration, with the state’s clean-air regulators digging in on mandates for an ever-greater number of electric and fuel-cell cars. The staff of California’s Air Resources Board called national efforts to promote electrification “very modest” after 2025 as it released a more than 660-page report on ...

  Bloomberg WeWork Cos., the world’s largest co-working startup, is preparing to enter Argentina and Brazil while scouting potential sites in nearby countries as part of an expansion in Latin America. The New York-based shared-office startup, which was most recently valued at $16 billion, plans to open two locations in Sao Paulo in June, as well as at least one ...

  Bloomberg Luxury residences in Greenwich, the Connecticut town that’s home to hedge funds and Wall Street executives, sold at a quicker pace in the fourth quarter as owners became more amenable to negotiating on price. Homes that sold in the top 10 percent of the Greenwich market — those priced $3.79 million or higher — spent an average of ...

  Bloomberg As cash continues to flood out of China, expectations are growing that the authorities will erect higher barriers. With the nation’s capital outflows last year estimated at $728 billion by Standard Chartered Plc, and the yuan predicted to continue declining against the dollar in 2017, analysts have been casting forward to what the authorities may do next to ...

  Bloomberg Bidders for troubled air-bag maker Takata Corp. are leaning toward a court-mediated bankruptcy in Japan to shield them from liabilities, a move that the company had opposed on concern it would disrupt the supply of replacement parts, according to people familiar with the matter. Takata, which is seeking a sponsor after triggering the biggest safety recall in automotive ...

  Bloomberg Singapore’s three-year decline in home prices could see relief from an unexpected quarter in 2017: Hong Kong. So says Cushman & Wakefield Inc., which expects the slide in the city-state’s home prices to end this year as foreign investors turned off by Hong Kong’s move to increase the stamp duty for overseas buyers look to Singapore instead. Desmond ...

  Bloomberg Australia’s overheated property market has spurred one of the nation’s top-performing fixed income money managers to cut some of its real estate debt investments to the lowest level since the 2007 financial crisis. Vivek Prabhu, the Sydney-based head of fixed income at Perpetual Ltd., is making the move as he braces for potential blow-ups in the nation’s A$7.6 ...

  Bloomberg China has released plans to relax restrictions on foreign investment and make it easier for overseas companies to list on domestic markets, as Premier Li Keqiang pushes ahead with efforts to open up the world’s second-largest economy. The government will ease overseas investment curbs on banking, securities, futures, mutual funds and insurance, according to measures approved by Li ...