International News

Bloomberg The UK is set to take the lead among developed economies by raising new taxes that will help trim pandemic budget deficits, an issue that’s likely to dominate policy debate across the world in the coming years. A 12-billion pound ($17 billion) charge on workers and companies is due to come before Parliament for a vote. If approved, it ...

Bloomberg Canada reported a third weekly decline in consumer confidence amid concerns about a softening economic outlook. The Bloomberg Nanos Canadian Confidence Index, a measure of sentiment based on household polling, falls 1 point to 61.6 last week, bringing it to the lowest level since March. The index is down 3.5 points over the past three weeks, and almost five ...

Bloomberg The euro area economy expanded faster than previously reported in second quarter, bolstered by a surge in consumer spending. Output rises 2.2% in the three months through June, more than the 2% initially estimated by Eurostat. Household consumption was up 3.7%, with government outlays and investment contributing to growth. Since economies across the region reopened after lockdowns, risks to ...

Bloomberg Volkswagen AG plans to set up a venture capital fund with an initial volume of $355 million to invest in decarbonisation projects and start-ups. Carbon capturing is feasible but expensive, and for some new technologies it’s key to broaden operations and being able to scale up, VW CEO Herbert Diess said. “More and more industries are recognising opportunities, and ...

Bloomberg Italy is leaning towards choosing ex-telecommunications monopoly Telecom Italia SpA and defense specialist Leonardo SpA among its main partners for a new national cloud-services hub, as the government looks for ways to keep public administration data out of foreign hands. State-backed lender Cassa Depositi e Prestiti SpA is in talks with the two companies to create an entity that ...

Bloomberg Toshiba Corp said it won’t be able to meet demand for power-regulating chips for another year and, in certain cases, through the end of 2022, offering a fresh warning for makers of cars, consumer electronics and industrial machines struggling with component shortages. “The supply of chips will remain very tight until at least September next year,” said Takeshi Kamebuchi, ...

Bloomberg Grab Holdings Inc, set to go public in the US through a deal with a blank-check company, is launching an online supermarket in the Philippines as it tries to move beyond meal deliveries and ride-hailing to boost revenue. Consumers in Metro Manila area, with a population of more than 13 million, will be able to order vegetables, meat, seafood ...

Bloomberg Aibee, a Chinese artificial intelligence startup, is planning a funding round to raise about $100 million, according to people familiar with the matter. The Sequoia Capital China-backed firm could seek an initial public offering after the fundraising, however no final decision has been made, the people said, asking not to be identified as the information isn’t public. Details of ...

Bloomberg Indian e-commerce retailer Snapdeal Pvt is considering an initial public offering that could raise about $400 million, joining a growing list of startups preparing to tap capital markets as the nation’s digital economy booms. The company, which counts SoftBank Group Corp among its investors, is speaking with advisers about a potential listing in Mumbai that could value it at ...

Bloomberg Activity in India’s dominant services sector expanded for the first time in four months as pandemic restrictions were loosened, a survey showed. The Markit India Services PMI SA rose to 56.7 last month from 45.4 in July. The August reading is the highest since February 2020 for a sector that makes up more than half of India’s economy. A ...