International News

Bloomberg Two AstraZeneca Plc cancer drugs received orphan status for treatment of liver cancer, a designation that may eventually speed progress to approval. The US Food and Drug Administration (FDA) granted the special status reserved for rare conditions to Imfinzi, a lung cancer treatment, and tremelimumab, which has been tested in a combination in a variety of cancers, AstraZeneca said ...

Bloomberg Pension funds in Denmark have issued a warning to external managers, making clear that they risk being fired if caught engaging in aggressive tax optimisation. The move represents an industry wide measure intended to thwart tax avoidance and live up to the United Nation’s Sustainable Development goals. A total of 11 firms, representing over half of Denmark’s pension assets, ...

Bloomberg Ford Motor Co, LG Corp and Pernod Ricard SA joined the ranks of the top global companies that are best prepared for the effects of climate change. They won the “A” grade last year for how aggressive they are setting and meeting carbon goals, as well as how forthcoming they are about their efforts, according to an analysis by ...

Bloomberg One surprising part of the trade deal struck between US president Donald Trump and Beijing is that US investors won a direct shot at the potentially lucrative job of helping China clean up its heap of bad debt. China is embracing foreign capital as it grapples with a tide of soured debt. Some estimate it to have topped $1 ...

Bloomberg Franklin Templeton Asset Management (India) Pvt marked down its debt exposure to Vodafone Group Plc’s India venture to zero, concerned by the operator having to pay $4 billion in back-fees as early as next week. The carrier’s shares suffered a record plunge. The payment deadline has led to “significant uncertainty with respect to our exposure” to the carrier, the ...

Bloomberg Facebook Inc apologised for mistranslating Chinese President Xi Jinping’s name from Burmese to a vulgar word in English in some posts, the New York Times reported. The mistranslation should not have occurred and “we are taking steps to ensure it doesn’t happen again,” the newspaper cited the social media company as saying. The error caught management’s attention when Aung ...

Bloomberg SoftBank Group Corp said it believes WeWork’s core business is still good despite governance and execution challenges. “We are still in it, we are involved, we are helping the company because we believe the idea at its core is very, very good,” said Deep Nishar, senior managing partner at SoftBank’s Vision Fund. “We will help solve WeWork’s problems with ...

Bloomberg Brazilian President Jair Bolsonaro is set to visit India next week, aiming to boost trade with a rapidly growing market as ties with neighbouring Argentina deteriorate. With the Asian nation expanding around 7% a year over the past decade, Brazil sees a huge potential for its exports of food and commodities, according to Marcos Troyjo, the special secretary of ...

Bloomberg Shin Kyuk-ho, a wartime migrant to Japan who returned home to build a little-known chewing-gum maker into Lotte Group, South Korea’s biggest retailer, has died. He was 97. Shin had been hospitalised in Seoul to get medical treatment for various age-related symptoms and passed away on Sunday at 4:29 pm, Lotte Group said. Shin was among the last of ...

Bloomberg Emmanuel Macron’s pre-Davos summit for tech executives will hold some goodies for start-ups. In the third edition of his “Choose France” summit, timed to catch global CEOs in Paris on their way to the Swiss Alps’ World Economic Forum, the French president will detail measures in his 2020 budget that have improved stock options for start-ups in France. Macron ...