International News

Bloomberg SoftBank Group will this week begin a previously agreed tender offer for as much as $3 billion of WeWork shares, including up to $970 million owned by WeWork cofounder Adam Neumann, two people familiar with the matter said. Tender offer will go ahead based on the previously announced terms of $19.19 per WeWork share. No talks between SoftBank and ...

Bloomberg China said it will raise penalties on violations of intellectual property rights (IPR) in an attempt to address one of the sticking points in trade talks with the US. The country will also look into lowering the thresholds for criminal punishments for those who steal IP, according to guidelines issued by the government. It didn’t elaborate on what such ...

Bloomberg Telenor ASA’s Bangladesh unit was ordered by the country’s Supreme Court to pay 20 billion taka ($235.6 million) to the nation’s regulator, the latest step in a long-running dispute, a lawyer for the company said. The order doesn’t resolve the case, which involves Bangladesh Telecommunication Regulatory Commission seeking 125.8 billion taka from the unit, Grameenphone Ltd, the lawyer, Sharif ...

Bloomberg Sony Corp is in talks to acquire a stake in the Indian television network controlled by billionaire Mukesh Ambani, as the Japanese giant seeks to tap booming demand for content in the South Asian nation, according to people familiar with the matter. The Tokyo-based company is currently conducting due diligence on Ambani’s Network18 Media & Investments Ltd before any ...

Bloomberg CATL and BYD Co saw sharp declines in sales of electrified-vehicle batteries in September as demand weakened in China, where the government is cutting subsidies in the EV sector. Sales by market leader Contemporary Amperex Technology Co Ltd (CATL) fell 10%, while BYD’s slumped 71%, causing it to lose its No. 3 ranking to South Korea’s LG Chem Co, ...

Bloomberg The financial distress at Vodafone Group Plc’s Indian venture has dragged down the wealth of Kumar Mangalam Birla whose group is the second-largest investor in the teetering wireless carrier. The tycoon, who joined forces with the British operator last year, has lost about a third of his fortune since the end of 2017 as mounting losses and debt decimated ...

Bloomberg Huawei Technologies Co is suing critics in France who alleged it has ties to the Chinese state. In an unprecedented move, the technology giant filed three defamation claims in Paris over comments made during television programmes by a French researcher, a broadcast journalist and a telecommunications sector expert. The company’s legal actions in France were published in a report ...

Bloomberg Fiat Chrysler Automobiles NV and PSA Group went out of their way to make their combination as equal as possible, shedding assets, paying special dividends and distributing board seats. It didn’t take long for investors to figure out who the buyer is. Shares of Fiat Chrysler jumped 10% after the two sides announced the deal, billed as a 50-50 ...

Bloomberg Peugeot SA plans to sign its $50 billion merger deal with Fiat Chrysler Automobiles this year despite allegations that a former Fiat chief executive officer was implicated in bribery, Reuters reported, citing an unidentified person with direct knowledge of the matter. Talks between Peugeot-manufacturer PSA and Fiat are concentrated on the merger and a memorandum of understanding is scheduled ...

Bloomberg The Italian government and ArcelorMittal are holding negotiations on how to resolve a standoff at the European Union’s largest steel plant. ArcelorMittal, which bought the ex-Ilva steel mill for 1.8 billion euros ($2 billion) last year, is in dispute with the government over pollution levels and the company’s legal position and protection from criminal liability, while Italy is looking ...