International News

Bloomberg Travis Kalanick sold about 20% of his stake in Uber Technologies Inc. Kalanick, 43, a director at the ride-hailing company, sold 20.3 million shares worth about $547 million that were held in a trust, according to a regulatory filing. The trades came after a 180-day lockup period restricting insider and early investor sales following May’s initial public offering. They ...

Bloomberg Adidas AG plans to idle experimental “speed factories” in the US and Germany, redeploying techniques developed there to suppliers in Asia, where the vast majority of its products are already made. The decision is a setback for anyone who hoped that projects like the speed factories represented the dawn of a new era of manufacturing in Europe and North ...

Bloomberg Ten coal-fired power plants near India’s capital of New Delhi are poised to miss a December deadline to install pollution control devices that would have curbed premature deaths linked to toxic emissions. Eight of the plants, whose operators include Vedanta Ltd, Larsen & Toubro Ltd (l&T) and Uttar Pradesh Power Corp, have yet to order the required flue-gas desulfurisation ...

Bloomberg Shares of Chinese electric-car makers fell in the wake of a Bloomberg News report that said regulators may cut subsidies further on the embattled industry. BYD Co, China’s biggest maker of new energy vehicles, slid 2.8% in Hong Kong. BAIC BluePark New Energy Technology Co, the country’s biggest maker of pure electric cars, retreated 2.9% in Shanghai, while Contemporary ...

Bloomberg India’s Hindalco Industries Ltd posted a 33% decline in quarterly profit as a slide in metal prices and weak demand squeezed margins. Group net income fell to 9.74 billion rupees ($136 million) during the three months ended in September from 14.5 billion rupees a year earlier, the aluminum and copper producer run by billionaire Kumar Mangalam Birla said. Sales ...

Bloomberg Singapore pledged more incentives to encourage green lending, measures that may propel its way in a race to be a global sustainable-financing hub. The city-state will launch a $2 billion green investments programme, according to Monetary Authority of Singapore board member Ong Ye Kung. The central bank’s funds will go to projects with a “strong green focus,” and to ...

Bloomberg India’s Commerce and industry minister Piyush Goyal will meet his counterpart US Trade Representative, Robert Lighthizer, on November 13 to discuss “outstanding bilateral issues,” the government said in a statement. The talks come days after India exited a China-backed trade agreement covering much of Asia, citing domestic concerns. Goyal will also take part in the BRICS trade ministers’ meeting ...

Bloomberg Tesla Inc unveiled its first vehicles built in China, a milestone for Elon Musk’s company as it prepares to start sales of domestically-made electric sedans in the world’s largest auto market. Assembled in Tesla’s new Shanghai Gigafactory, which only broke ground in January, the first Model 3 sedans came in blue and were emblazoned with the brand name in ...

Bloomberg Myanmar expects to attract more investment as manufacturers seeking to relocate production from China to skirt US tariffs encounter capacity constraints in Vietnam. The Southeast Asian nation, whose goal is to woo a total of $5.8 billion in foreign-direct investment this year, is trying to cut back the red tape that deters some companies, according to a senior government ...

Bloomberg Britain dodged a recession ahead of the now-postponed October 31 Brexit deadline, but investment is in a slump and the economy has lost almost all momentum. The economy grew 0.3% between July and September, avoiding a second straight quarter of contraction, the Office for National Statistics said. Still, the figures were weaker than expected and showed the economy had ...