International News

Bloomberg Estee Lauder Cos sees a revival in China’s tourism — a promising sign in a critical growth market for international brands. Chief Executive Officer Fabrizio Freda said that Chinese travel stores — the type seen in airports and train stations — were a “stand-out performer” in the company’s most recent quarter, posting double-digit growth. Global travel sales, meanwhile, were ...

Bloomberg Mitsubishi Motors Corp reported an operating loss that was wider than estimates as the Japanese automaker struggles to sell cars amid the coronavirus outbreak. The loss for the quarter ended in September was 29 billion yen ($276.5 million), compared with analysts’ average projection for a loss of 27 billion yen. Even so, Mitsubishi Motors stuck to its forecast for ...

Bloomberg Jack Ma was poised to become Asia’s richest person with Ant Group Co’s initial public offering. Instead, his net worth tumbled almost $3 billion and both retail and institutional investors who were betting on a big first-day pop are in limbo. Alibaba Group Holding’s US-traded shares slid 8.1% in New York,the most since January, 2015, after Ant said its ...

Bloomberg UK Prime Minister Boris Johnson said he was extending the government’s wage support program as part of a new partial four-week lockdown for England and offered home owners more financial reprieve. Under the package announced by the prime minister, state payments will be made to furloughed workers of as much as 80% of their wages through the new lockdown ...

Bloomberg Germany will do “everything necessary” to help cushion the impact of the coronavirus on businesses as the government moves to introduce a partial lockdown on Monday, Chancellor Angela Merkel said. Merkel will meet with industry representatives on Wednesday to discuss how to further help them to ease the burden of coping with the coronavirus. “I assure you, the government ...

Bloomberg Apple Inc. warned investors that the company’s financial results would be hurt if the amount paid from App Store downloads and subscriptions is reduced or eliminated. The warning in a regulatory filing came amid criticism from lawmakers and others about the cut of as much as 30% that Apple takes from third-party developers selling software through the App Store ...

Bloomberg Fortress Investment Group is postponing its plan to build a train to Las Vegas from Southern California after failing to sell a record amount of unrated municipal debt to finance the speculative project, showing the limits of investor appetite amid an economic downturn. Since the end of September, Fortress, through its company Brightline Holdings, had been marketing $3.2 billion ...

Bloomberg Rolls-Royce Holdings Plc has hired Deloitte to conduct the sale of its diesel and gas engine division Bergen, which could fetch up to 100 million pounds ($129 million), the Sunday Telegraph reported. Germany’s MAN SE and Finland’s Wartsila Oyj could be potential buyers and a sale is expected early next year, according to the report, which didn’t say where ...

Bloomberg Brazil’s Pantanal wetlands, a fragile cradle of endangered species, burned at the fastest rate for the month of October since record keeping started in 1998, further damaging the country’s environmental credentials. At least 2,846 fire spots have been registered this month in the biome, surpassing a previous 2002 record, according to data from Brazil’s Spacial Research Institute, known as ...

Bloomberg The furlough program deployed by UK Chancellor of the Exchequer Rishi Sunak to avert mass job losses comes to an end as a resurgence of coronavirus leaves the economy vulnerable to another shock. At their height, government wage subsidies protected almost 9 million jobs and the cost has been vast — over 40 billion pounds ($52 billion) at the ...