International News

  Bloomberg China is poised to abandon its 6.5 percent growth target sometime in the next two years as leaders push to contain asset bubbles and financial leverage, according to Societe Generale SA. Signals pointing to acceptance of an expansion below the current objective are encouraging, though authorities haven’t yet confronted the test of a deceleration, which will come in ...

  Bloomberg Apple Inc. wants India to offer tax concessions on iPhones that the company plans to manufacture in the country, a person with knowledge of the matter said. The company wrote to the industry ministry last month seeking lower import and manufacturing duties, the person said, asking not to be identified citing rules on speaking to the media. The ...

  Bloomberg Trade Minister Chrystia Freeland says Canada will seek to build on its EU trade deal within the UK once Brexit occurs, rather than striking a separate bilateral pact. The Canada-EU Comprehensive Economic and Trade Agreement is set to go into force provisionally in early 2017, about the same time the UK only begins official talks to exit the ...

  Bloomberg Electricity prices from Boston to Dallas sank to their lowest levels ever in 2016, presenting new challenges for generators more than a decade after the industry was deregulated. Power prices plunged this year as cheap natural gas cut fuel costs, and wind and solar alternatives came online. Consumers also used less electricity for the second straight year, despite ...

  Bloomberg US Steel Corp. said it will restart production at an idled plant and call back employees following an agreement to supply iron-ore pellets to third-party customers. The Pittsburgh-based steelmaker said in a statement that it will restart the Keetac plant in Keewatin, Minnesota, more than 18 months after the company idled the facility amid rising steel imports and ...

  Bloomberg China plans to spend 3.5 trillion yuan ($503 billion) to expand its railway system by 2020 as it turns to investments in infrastructure to bolster growth and improve connectivity across the country. The high-speed rail network will span more than 30,000 kilometers (18,650 miles) under the proposal, according to details released at a State Council Information Office briefing ...

  Bloomberg The South Korean government cut its growth projection for next year to 2.6% from 3%, reflecting tepid domestic consumption and weak exports. The government will maintain loose fiscal policy and pressure state-run companies to spend more in an effort to shore up sagging consumer and business sentiment, the Ministry of Strategy and Finance said Thursday in its report ...

  Bloomberg China’s diesel demand is likely to pick up pace ahead of the Lunar New Year as traders stock up barrels ahead of the festivities and as construction activity picks up in some areas, four trade sources said on Thursday. Implied diesel demand in October in China, the world’s second-largest oil user, rose to 3.4 million barrels per day, ...

  Bloomberg Toshiba Corp.’s impending multibillion-dollar writedown has triggered one of the worst-ever share declines for a major Japanese company, with ratings downgrades and investor pessimism erasing almost all of its 87 percent rally this year. Shares in the electronics and industrial conglomerate fell 17 percent to 259 at the close on Thursday. Toshiba said it may write down billions ...

  Bloomberg For years, Toyota Motor Corp. focused on pushing its hybrid models in Europe, avoiding a diesel-for- diesel competition with market leaders including Volkswagen AG. The Japanese carmaker’s strategy is finally paying off. In the first full year since Volkswagen’s emissions scandal threw the German giant into disarray, Toyota is on track for roughly a 40 percent jump in ...