International News

  Bloomberg Asia is embracing bullet trains like never before. Singapore and Malaysia signed an agreement on Tuesday that will bring a high-speed rail link to Kuala Lumpur by 2026. The long-envisioned plan, six years behind an earlier target completion date, follows a $5.5 billion project already underway in Indonesia. India last year chose Japan to build a $15 billion ...

  Bloomberg Facebook Inc. is piloting a feature in India allowing users to save videos to watch offline, chasing a similar program from Google’s YouTube, as the companies attempt to crack a market ridden with poor internet connectivity. The move followed feedback from users in the country citing poor video experiences because of limited mobile coverage, Facebook said in a ...

  Bloomberg Singapore Exchange Ltd., whose stock market suffered a five-hour halt last week, said the issues were caused by a hard disk failure and an application that didn’t detect the fault. The exchange has replaced the disk and submitted an interim report to the Monetary Authority of Singapore, CEO Loh Boon Chye told reporters on Tuesday. Investigations are ongoing ...

  Bloomberg Malaysia’s ringgit posted the biggest two-day slide since Britain voted to exit the European Union amid the subdued mood in emerging markets as oil and stocks fell. Crude prices dropped for a second day, damping the outlook for government finances for Asia’s only major net oil exporter before the International Monetary Fund updates its projections for world growth ...

  Bloomberg Takata Corp., the air-bag supplier behind the industry’s largest ever recall, routinely manipulated results of air-bag inflator tests reported to Honda Motor Co., according to an ongoing audit commissioned by the parts maker and its biggest customer. Takata engineers removed some test results to artificially reduce variability in air-bag inflator performance, Brian O’Neill, a former Insurance Institute for ...

  Bloomberg Turkey’s central bank slowed the pace of interest rate cuts at its meeting on Tuesday after the failed coup attempt triggered a sell-off in the currency and sovereign debt. The bank lowered its overnight lending rate by 25 basis points, which fell short of the 50-basis-point cuts it delivered during the past three meetings but matched the median ...

  Bloomberg Truckmakers, including Daimler AG and Paccar Inc.’s DAF Trucks, agreed to pay European Union regulators a record €2.93bn ($3.24 bn) in fines for fixing truck prices over 14 years. Daimler got the largest penalty of €1.01 billion and DAF will pay €752.7 million as part of a settlement with the European Commission that cut potential fines by at ...

  Bloomberg U.K. inflation accelerated more than economists forecast in June, boosted by airfares on trips to continental Europe. The rate rose to 0.5 percent from 0.3 percent in May, the Office for National Statistics said in London on Tuesday. Economists had expected 0.4 percent, according to the median estimate in a Bloomberg survey. Core inflation, which excludes volatile food ...

  Bloomberg Ericsson AB will accelerate cost cuts after posting sales that missed analysts’ estimates, as Chief Executive Officer Hans Vestberg battles waning demand for mobile-network gear. Ericsson said it will reduce research and development spending and try to reap efficiency gains from a new company structure. Second-quarter sales fell 11 percent to 54.1 billion kronor ($6.3 billion) as phone ...

  Bloomberg The pace of North Sea oil-field shutdowns is picking up as the impact of the market slump is compounded by the uncertain investment environment created by Brexit. Projected spending on decommissioning in the British sector in the decade to 2024 has risen to 16.9 billion pounds ($22.4 billion), according to Oil & Gas U.K., an industry group. That’s ...