International News

  Bloomberg Toshiba Corp. is sending letters soliciting offers for its memory chip business this week and seeking bids that value it at about 1.5 trillion yen ($13 billion), according to people familiar with the matter. The Japanese conglomerate is offering a majority stake in the chip unit and would be willing to sell the entire business, said the people, …

  Bloomberg China’s official factory gauge firmed in February as producer prices rebounded, giving top officials gathering in Beijing a solid economic backdrop as they seek to rein in financial risk. Manufacturing purchasing managers index climbed to 51.6 in February, compared with a median estimate of 51.2 in a Bloomberg survey of economists and 51.3 in January. Non-manufacturing PMI stood …

  Bloomberg India’s economy is forecast to slow less than estimated as banks work to replace cash sucked out by Prime Minister Narendra Modi’s shock clampdown in November. Gross domestic product will probably grow 7.1 percent in the year through March after a 7.9 percent expansion the previous year, the Statistics Ministry said in a statement in New Delhi. While …

  Bloomberg After years of disappointment, a quiet revolution may be underway in the Japanese stock market. Japan’s companies have for years sat on record piles of cash — the equivalent of $2.4 trillion in September, the most in the world. The issue has been deploying those funds for shareholder benefit. A key part of Abenomics has been sharpening the …

  Bloomberg Australia’s smashing growth may not be quite as good as it seems. It’s clear that China’s renewed resource binge has brought back the good times for its commodity-driven economic satellite, emboldening Aussie households to ease up saving and ramp up spending. And the outlook for the world’s No. 2 economy looks like it will remain good for some …

  Bloomberg Not even Donald Trump can put the brakes on China’s wealth-creation machine. The 36 Chinese billionaires on the Bloomberg Billionaires Index have increased their wealth by 13.2 percent since the real estate mogul was elected US president on Nov. 8, a $39.2 billion increase that’s pushed their combined net worth to $336 billion. The gains top those seen …

  Bloomberg China has ordered curbs on steel and aluminum output in as many as 28 northern cities during the winter heating season as it steps up its fight against pollution, according to people with knowledge of the matter. The cuts include halving steel capacity in four major cities, including top producer Tangshan in Hebei province, according to the people, …

  Bloomberg The super-rich will continue to flock to London, despite the political and economic concerns around the UK’s intention to leave the European Union, according to a report published on Wednesday by property broker Knight Frank LLP. The number of ultra-wealthy people living in the UK capital is expected to climb by 30 percent to 6,058 over the next …

  Bloomberg Fiat Chrysler Automobiles NV said the US Securities and Exchange Commission and states’ attorneys general are investigating its diesel models, as scrutiny escalates of vehicles that environmental regulators have said violate pollution laws. Following US Environmental Protection Agency allegations in January that Fiat Chrysler put software in Jeep and Ram diesel models allowing them to exceed pollution limits, …

  Bloomberg Blue-chip US companies are pulling back from borrowing just when investors most want to lend. Investment-grade corporate bond sales were below $100 billion in February, the worst February since 2014 and 14 percent below the monthly average for issuance for the last three years, according to data compiled by Bloomberg. Companies likely moved at least a portion of …