International News

Bloomberg Amazon.com Inc opened its first corporate office in the UK not to be based in the nation’s capital city, instead choosing the northern city of Manchester for a new site. The company said it’ll populate the six floors and 90,000 square feet it’s leased in the century-old Hanover Building with 600 new jobs “over time,” including software developers and ...

Bloomberg The mystery surrounding a $66 million painting deepened last month after it resurfaced in the walls of an Italian gallery nearly 23 years after it was reported stolen. Officials announced that the painting by Austrian symbolist artist Gustav Klimt, created between 1916-1917, is authentic. Gardeners at the Ricci Oddi Gallery of Modern Art in northern Italy’s Piacenza province discovered ...

Bloomberg GAM Holding AG Chief Executive Officer Peter Sanderson is cutting bonuses and signalling talks on layoffs will begin imminently as the company adapts to losing more than 40% of its key assets in a rogue trading scandal. Bonuses will be cut since underlying profits are materially lower and the company will pay a higher proportion in deferred shares, Sanderson ...

Bloomberg British firms issued 313 profit warnings in 2019, with consumer discretionary businesses — including retail and travel and leisure —, industrial support services, software services and construction and materials hit the hardest. The number of listed companies warning in 2019 was also the highest in 18 years, marginally above the figure of 2008, the report showed. “The UK economy ...

Bloomberg Germany took first place in the 2020 Bloomberg Innovation Index, breaking South Korea’s six-year winning streak, while the US fell one notch to No. 9. Singapore’s leap into the third-place ranking returns it to its post from two years ago. The annual Bloomberg Innovation Index, in its eighth year, analyses dozens of criteria using seven metrics, including research and ...

Bloomberg New Jersey Governor Phil Murphy has signed a bill that represents the state’s most ambitious strategy to promote electric vehicles (EV). New Jersey, where transportation accounts for about half of greenhouse gas emissions, joins about a dozen other states that have targets for electric-vehicle adoption. The bill calls for 2 million plug-in electric vehicles by 2035, and offer consumers ...

Bloomberg India’s government has scoffed at Amazon.com Inc founder Jeff Bezos’ offer to invest $1 billion in the country, firing the latest salvo at an e-commerce giant that’s been accused of predatory business practices. Trade minister Piyush Goyal delivered a stinging rebuke two days after Bezos arrived in New Delhi and touted his efforts to help digitise small and medium ...

Bloomberg Japan’s best-known activist investor, Yoshiaki Murakami, announced a tender offer for Toshiba Machine Co, one of the entities embroiled in a controversial takeover battle for NuFlare Technology Inc. The bid late from Murakami vehicle Office Support came just hours after Toshiba Machine confirmed it had agreed to tender its shares in NuFlare to Toshiba Corp for 11,900 yen apiece. ...

Bloomberg India’s top court’s rejection of an appeal by wireless carriers to review $13 billion they owe to the government raises risks for lenders to the companies, according to UBS Group AG. Payment of the dues may erode the telecom operators’ cash flows, especially those of Vodafone Group Plc’s India venture. Under the October verdict, Vodafone Idea Ltd has to ...

Bloomberg Embattled Chinese conglomerate HNA Group Co has agreed to sell control of its tech outsourcing unit to China Electronics Corp in a deal valued at about $750 million, people with knowledge of the matter said. State-owned China Electronics signed an agreement with HNA on the purchase of Pactera Technology International Ltd, according to the people, who asked not to ...