International News

Bloomberg Malaysia is proposing to resume a rail project connecting its southern state of Johor to Singapore at a lower cost. The government is seeking to downsize the price tag by 36% to 3.16 billion ringgit ($756 million) with changes to the structure and scope of the project, Prime Minister Mahathir Mohamad told reporters in Johor Bahru. Construction of the ...

Bloomberg Hong Kong’s economy contracted sharply in the third quarter as it entered a recession, exceeding economists’ worst estimates of the damage from nearly five months of protests. Third-quarter gross domestic product retreated 3.2% from the previous three months, after a 0.4% contraction in the second quarter. That’s the worst slump since 2009, in the aftermath of the global financial ...

Bloomberg Taiwan’s economy grew at the fastest pace since the second quarter of last year as domestic investment and better-than-expected overseas demand helped avoid the worst of the US-China trade war. Gross domestic product expanded 2.91% in the third quarter, according to a statement from the island’s statistics bureau. That was the fastest rate of expansion since the three months ...

Bloomberg For years India’s state-run companies coughed up hefty dividends when the government needed cash. Now the treasury is being forced to return the favour. Prime Minister Narendra Modi will spend about $9.5 billion to resuscitate telecom firms Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, Telecom Minister Ravi Shankar Prasad said.

Bloomberg Samsung Electronics Co posted better-than-expected earnings and projected a gradual recovery in the memory chip market in 2020 as fifth-generation wireless technology rolls out globally. Shares in South Korea’s largest company climbed as much as 2% after it posted net income of 6.1 trillion won ($5.2 billion) for the September quarter, surpassing the 5.5 trillion won average of projections. ...

Bloomberg United Auto Workers (UAW) leaders endorsed a tentative agreement with Ford Motor Co and sent it to workers for a ratification vote after contract negotiations that lacked the drama surrounding the 40-day strike at General Motors Co. While the deal calls for the closing of an engine plant in Michigan, it also includes $6 billion of product investments in ...

Bloomberg UK lawmakers have sent invitations to 30,000 people across the UK to take part in Britain’s first Climate Change Assembly. The assembly, which will be organised by cross-party committees, will garner views from citizens on how to reach Britain’s target of reaching net zero emissions by 2050, the committees said in a joint statement. “We now need to set ...

Bloomberg Facebook Inc delivered better-than-projected third-quarter sales and steady user growth, proving that its business can endure increasing regulatory scrutiny and criticism over its immense reach and influence. The social-media giant’s monthly global user base grew by 35 million — including 3 million new users in the lucrative North American market, which had looked like it reached a plateau in ...

Bloomberg California Governor Gavin Newsom threatened a state takeover of PG&E Corp unless the beleaguered utility giant makes a swift exit from bankruptcy and improves its operations to reduce the risk of wildfires. “We are gaming out a backup plan if Pacific Gas and Electric is unable to secure its own fate and future,” Newsom said. Newsom again blasted PG&E ...

Bloomberg Apple Inc executives put aside their typical praise of the iPhone’s sleek design and breakthrough technology for more mundane topics such as instalment plans, trade-in programs and giveaways. This is the reality for the Cupertino, California-based technology giant. The smartphone market is saturated and growing slowly at best, so Apple must find new ways to persuade consumers to upgrade ...