International News

  New Delhi / Bloomberg India has rejected Apple Inc.’s request to import and sell refurbished iPhones to the world’s second largest mobile population, dealing a blow to its plans to court price-conscious consumers there. The US company’s application has been turned down, a telecommunications ministry official told reporters in New Delhi on Tuesday, declining to be identified because of ...

  Hong Kong / AFP China and Japan’s economies are expected to slow sharply over the next two years but Asian growth will remain strong as domestic demand takes up the slack from weak global trade, the IMF said on Tuesday. Government stimulus measures, lower commodity prices and low unemployment will help drive regional expansion, the International Monetary Fund said, ...

  Sydney / AFP A Chinese-led consortium has withdrawn its $281.5 million bid for Australia’s vast Kidman cattle empire after the government indicated the deal was not in the national interest, the seller said on Tuesday. Australia’s biggest private landholder S. Kidman and Co. had selected the bid by Chinese-owned Dakang Australia Holdings and ASX-listed Australian Rural Capital (ARC) as ...

  Bloomberg The European Commission told the euro area’s largest economies to reduce debt and modernize labor markets as it again slashed its inflation forecast and warned of slower-than-predicted growth across the 19-nation bloc. France, Spain and Italy, which have persistently failed to hit European Union budget targets, are still off track, the Brussels-based commission said. Gross domestic product in ...

  Bloomberg The euro advanced, headed for its longest winning streak against the dollar since 2013, amid signs the Federal Reserve will delay raising interest rates. Europe’s shared currency breached $1.16 for the first time since August as signs emerged that the regional economy may be improving. A report on Monday showed manufacturing expanded at a faster pace than initially ...

  Bloomberg U.K. manufacturing unexpectedly shrank for the first time in three years in April, dealing a shock blow to the economy after growth slowed in the first quarter. Markit Economics said its factory Purchasing Managers Index dropped to 49.2 from 50.7 in March, below the key 50 level that divides expansion from contraction. Economists had forecast an increase to ...

  Bloomberg The European Commission predicts Italy will fail to meet its debt-reduction goal this year and sees the country’s economy growing less than PM Matteo Renzi’s government estimates. Italy’s debt ratio will remain at 132.7 percent of gross domestic product in 2016, the same level as last year, the European Union’s executive branch said on Tuesday in its spring ...

  Bloomberg More expensive iPhones, fewer foreign home buyers and a whole lot of unknowns — that’s what some U.K. corporate bosses say the country can expect if it votes to leave the European Union. In February, nearly 200 chief executive officers signed a letter calling for Britain to stay. Others say the country should leave, though many have declined ...

  Bloomberg U.S. gasoline demand rose at the fastest annual rate in almost 40 years in February as stronger economic growth and cheap fuel prices spur driving in the world’s biggest oil consumer. The Energy Information Administration said late on Friday that U.S. gasoline demand rose to 9.2 million barrels in February, up 556,000 barrels a day from a year ...

  Bloomberg Foreign corporations would dramatically scale back their plans to invest in the U.S. if billionaire Donald Trump is elected president, according to a survey conducted in January for global management consulting firm A.T. Kearney. The election of a populist such as Trump or Vermont Senator Bernie Sanders would prompt fewer companies to increase their spending in the U.S. ...