International News

Bloomberg General Motors Co affirmed plans to build electric pickups and SUVs at its Detroit-Hamtramck plant and scheduled the start of production for late next year. Output of electric Cruise Origin driverless vehicles will follow soon after the initial pickups roll off the line, GM said in a statement . The automaker committed to investing $2.2 billion in the factory ...

Bloomberg Germany’s government sees economic growth of 1.1% this year, up from a previous projection of 1%, according to a person with direct knowledge of the matter. Europe’s largest economy expanded 0.6% in 2019, its slowest growth in six years, amid global trade tensions that weighed on its export-heavy economy. The government’s first major assessment of the economic situation this ...

Bloomberg iPod pioneer Tony Fadell is backing a battery company that says it’s found a way to store more energy using silicon scrap waste. Fadell’s investment firm, Future Shape, is among the contributors to Advano’s $18.5 million Series A funding round. It’s Fadell’s first battery investment. Silicon could be key to building more powerful batteries. The anodes of most existing ...

Bloomberg Apple Inc’s China-centric manufacturing base is at risk of disruption after the Lunar New Year holiday as the company’s partners confront the coronavirus outbreak that has gripped the country and caused more than 100 deaths. Virtually all of the world’s iPhones are made in China, primarily by Foxconn’s Hon Hai Precision Industry Co at its so-called iPhone City in ...

Bloomberg Canadian prime minister Justin Trudeau is losing support for a plan to expand the Trans Mountain oil pipeline, raising the stakes for his government as the project navigates continued legal challenges. About 37% of Canadians oppose the government-owned project, up from 31% in June, according to a poll published on Tuesday by the Angus Reid Institute. Backing for the ...

Bloomberg Governments, companies and international health organisations rushed to contain a Sars-like coronavirus that has claimed more than 100 lives, with Hong Kong the latest to announce travel restrictions on people moving in and out of the mainland. Hong Kong will close some border checkpoints and restrict flights and train services from the mainland, Chief Executive Carrie Lam said on ...

Bloomberg China has purchased Australian, Canadian and French wheat as Beijing looks to fill import quotas set by the World Trade Organization (WTO), according to people familiar with the matter. In the past two months, China bought about 1 million metric tons of wheat from the three countries, said the people, who asked not to be identified because the transactions ...

Bloomberg Indonesian authorities are weighing the induction of a strategic investor into a unit of the nation’s oldest insurer that’s on the brink of collapse after alleged fund mismanagement left a $2 billion hole in its books. PT Asuransi Jiwasraya has submitted a restructuring proposal to the Financial Services Authority (FSA) that includes the stake sale in unit PT Jiwasraya ...

Bloomberg Kolkata Metro Rail Corp expects to complete its East-West project, which runs partly under the city’s iconic Hooghly river, by March 2022 after a delay of several years doubled costs. The authority is awaiting 20 billion rupees ($280 million) over the next two years from the Indian Railway Board, said Manas Sarkar, managing director at KMRC. A soft loan ...

Bloomberg Singapore introduced new payments legislation that offers global cryptocurrency firms a chance to expand their operations in the country by applying for operating licenses for the first time. The Payment Services Act, which comes into force Tuesday, is the first comprehensive regulation for companies handling activities ranging from digital payments to trading of tokens such as Bitcoin and Ether. ...