International News

  Bloomberg Rolls-Royce Holdings Plc will close the bulk of sites at its marine-engine and ship-design unit and shift some production to emerging economies as the lower price of crude hurts demand for oil-industry exploration and service vessels. The offshore market is showing no sign of recovery, with the outlook bleaker as the backlog shrinks, Rolls, which is better known ...

  Bloomberg Wage growth is on fire. The Atlanta Fed’s Wage Growth Tracker indicates that the median US worker saw pay rise by 3.9 percent year-over-year in October, the fastest rate of growth since November 2008. This number comes on the heels of October’s non-farm payrolls report, which showed average hourly earnings increasing at the fastest annual clip of this ...

  Bloomberg The UK’s National Infrastructure Commission called on the government to press ahead with the reinstatement of a rail line between the university cities of Oxford and Cambridge and for the building of tens of thousands of new homes along the route to maximize its economic potential. “The corridor connecting Cambridge, Milton Keynes and Oxford could be Britain’s Silicon ...

  Bloomberg Uber Technologies Inc. is trying to finalize a settlement with California drivers to resolve potentially billions of dollars in claims stemming from the company’s refusal to give them the protections and benefits of employees. The case centers on allegations that the company failed to pay minimum wage and overtime to hundreds of thousands of drivers. Lawyers didn’t disclose ...

  Bloomberg Volkswagen AG lost market share in Europe for the 14th straight month since the emissions- cheating scandal erupted in September 2015, as competitors took advantage of the German automaker’s tarnished image to attract buyers. Volkswagen accounted for 24.9 percent of the region’s car sales in October, compared with 25.3 percent a year earlier, the Brussels-based European Automobile Manufacturers’ ...

  Montreal / AFP Canada expects to keep its 1989 bilateral free trade agreement with the United States if US President-elect Donald Trump withdraws from NAFTA, the Canadian ambassador to the US said. The Canada-US Free Trade Agreement was superseded in 1994 by the implementation of the North American Free Trade Agreement, which added Mexico to the pact. “Presumably… if ...

  Bloomberg For clues on how U.K. immigration policy might work after Brexit, try looking at a small island just off the northern coast of France. The U.K. government has studied how the British isle of Jersey —whose legislature and judiciary are still independent from the mainland — controls migration, according to local officials who met with Prime Minister Theresa ...

  Bloomberg Shenhua Group Corp., China’s biggest coal producer, is seeking to limit sales of the fuel to end-users and choke off supplies to traders amid government pressure on the nation’s major miners to cool surging prices. The Beijing-based company has changed its thermal coal sales policy to limit how much trading companies can buy and allow some sales to ...

  Bloomberg Wesfarmers Ltd., the Australian retail-to-fertilizer conglomer- ate, has kicked off a sale process for its two coal mines in the country after prices for the commodity soared this year, according to people with knowledge of the matter. The Perth-based company has sent preliminary information on the Curragh and Bengalla mines to potential buyers ahead of calling for bids, ...

  Bloomberg Cotton supplies at Indian markets dropped by more than half after Prime Minister Narendra Modi’s surprise move to withdraw and replace high-denomination banknotes. Prices have already climbed about 4 percent as farmers withhold supplies, Aurobinda Gayan, vice president for research at trader Kotak Commodity Services Ltd., said in an interview on Tuesday. They may climb further through early ...