International News

Bloomberg German business confidence unexpectedly weakened in December, while remaining close to its record, in a sign of nerves over the outlook for Europe’s largest economy. The Ifo Institute’s gauge of business sentiment declined to 117.2 from a revised 117.6 the previous month. Economists surveyed by Bloomberg predicted a reading of 117.5, matching November’s original number. Ifo’s gauge remains near …

Bloomberg It’s quite a cocktail: throw in some profit-seeking techies, mix in the age-old Roman Catholic Church and add a twist of anti-globalism. What you get is a startup hub. A year ago, venture capitalists Stephen Forte of Fresco Capital Fund and Eric Harr of Imagine Ventures—both based in California— asked the Vatican to back a technology competition among startups …

Bloomberg Many of the cargo containers passing through India’s busiest port in Mumbai have a small piece of Japan Inc. attached: Devices from NEC Corp. that can be tracked as the containers rumble through the interior of Asia’s third-largest economy. The partnership between NEC and the port illustrates the strengthening relationship between Tokyo and New Delhi. Japan is seeking growth …

Bloomberg Adani Enterprises Ltd. will build Australia’s largest coal mine by itself after canceling a planned $1.5 billion deal with Australia’s Downer EDI Ltd. to help construct the Carmichael project in Queensland state. Adani and Downer mutually agreed to cancel all letters of award for work on the mine first made three years ago, Adani’s Australian unit said. The decision …

Bloomberg China’s home prices are warming up in the nation’s smaller cities, even as the government prolongs a campaign to rein in speculation and control bubbles. New-home price gains are picking up the most in the third-tier cities, rising 0.46 percent in November on a month-on-month basis, according to Bloomberg Intelligence calculations based on government data tracking 70 cities. The …

Bloomberg Coffee trading is slowing in Vietnam, the top robusta producer, on expectations that a larger harvest and changes to the London futures contract next year will give buyers bigger discounts. Roasters and traders are delaying purchases on bets that a bigger crop currently being gathered will push prices lower, according to traders attending the Asia International Coffee Conference in …

Bloomberg Global A&T Electronics, a Singapore-based chip assembler that took on hefty debt a decade ago through a buyout by TPG Capital and Affinity Equity Partners, filed for bankruptcy as a 2013 debt exchange came back to haunt it. The chip-assembler listed debt of more than $1 billion and assets of over $500 million in Chapter 11 papers filed in …

Bloomberg China is planning to tell local governments to stop offering subsidies for electric cars and other new-energy vehicles, people familiar with the matter said, a move that could undermine demand for autos made by companies including BYD Co. and BAIC Motor Corp. The Ministry of Finance is working on a plan that would mandate authorities to phase out the …

Bloomberg UK Prime Minister Theresa May will set out her plan for how a proposed Brexit transition period will work, stoking a potential new row with the European Union as she tries to keep different factions inside the Conservative Party on her side. May was expected to address Parliament around 3.30 pm London time on Monday, saying that after March …

Bloomberg Oracle Corp. agreed to buy Aconex Ltd., an Australian company that makes cloud-based collaboration software for construction projects, for $1.19 billion cash as it pushes deeper in to new markets to gain more customers. The deal values Aconex at A $7.80 per share. Aconex shares surged 44 percent to A$7.63 at 11:09 am in Sydney trading. Oracle has been …