International News

Bloomberg Hong Kong’s on-demand logistics and delivery firm Lalamove has filed confidentially for a US initial public offering, according to people with knowledge of the matter. The company, also known as Huolala in China, is looking to raise at least $1 billion in the share sale, the people said. Details of the offering including the fundraising amount are still subject ...

Bloomberg Starting in early 2020, a very unlikely anomaly started appearing in global trade data: China said it was selling more goods to the US than the US reported buying from China. That was a reversal of the normal pattern and a product of the two nations’ trade war — but not an intended consequence. Instead, it was likely due ...

Bloomberg Italy’s Prime Minister Mario Draghi said that faster than expected growth will be key to cutting Italy’s debt burden, which has swelled during the pandemic as the government stepped in to support businesses. “Economic confidence is coming back,” Draghi said addressing lawmakers ahead of the June 24 and 25 European Union summit. “Data is pointing to a stronger than ...

Bloomberg American pharmaceutical distributor McKesson Corp. is exploring a sale of its European business, according to people familiar with the matter, in a move that would reverse its $8.3 billion purchase of Germany’s Celesio AG in 2014. Phoenix Group, Germany’s largest pharmaceutical wholesaler, which is owned by the billionaire Merckle family, is in talks to acquire the continental European business. ...

Bloomberg Almost half of London companies whose staff can work from home expect them to do so up to five days a week after the pandemic finishes, and smaller businesses are more likely than larger ones to move ahead with remote working. That’s according to a poll of 520 business leaders by the London Chamber of Commerce and Industry, which ...

Bloomberg GlaxoSmithKline Plc said it will carve out its consumer unit via a spinoff and cut its dividend by about 30% as Chief Executive Officer Emma Walmsley seeks to revive the pharma giant’s lagging drug business. The UK company will list the unit in mid-2022 on the London Stock Exchange, Glaxo said in a statement Wednesday, before a key investor ...

Bloomberg The euro area’s private-sector economy is growing at its fastest pace in 15 years as coronavirus restrictions are loosened across the region. Surveys of purchasing managers by IHS Markit showed businesses struggling to keep up with demand in June as slowing infection rates allowed services including restaurants to reopen after months of strict lockdowns. Confidence in the economic outlook ...

Bloomberg The UK remains Europe’s most attractive destination for financial services investment but its lead has narrowed, according to a survey by the consultants EY. The UK attracted 56 financial services projects in 2020, still the highest in Europe yet down 43 projects from 2019, marking the largest year-on-year decline in a decade. Foreign direct investment (FDI) in financial services ...

Bloomberg The European Union (EU) is working towards having the US lift its national-security tariffs on metal imports by the end of the year, EU Ambassador to Washington Stavros Lambrinidis said. “We’re going to be sitting down in the next five months until the end of the year — we’re going to try to address the fundamental issue of overcapacity ...

Bloomberg Italy introduced a five-day quarantine and mandatory testing for travellers from the UK, a restriction that will weaken an economic rebound reliant on summer tourism. The UK is one of the biggest sources of travellers to Italy during normal times, though its role has been diminished as a rise in coronavirus cases slowed its travel reopening. Britons will now ...