International News

Bloomberg The global economic downturn is increasingly leaving its mark on Swiss industry, raising the prospect of a further deterioration of momentum in the export-oriented nation. Swiss industrial giant ABB Ltd felt the effect of a drop in factory investment in the third quarter as robotics and automation orders slumped. Steelmaker Schmolz + Bickenbach AG announced it would respond to ...

Bloomberg Renault SA will offer its electric Kangoo van with added hydrogen fuel-cells before the end of the year and roll out the technology to another model in 2020. The move sees the French carmaker joining competitors Toyota Motor Corp and Hyundai Motor Co in sticking with fuel-cell vehicles even as the industry largely backs electric cars powered by lithium-ion ...

Bloomberg The value of UK services exports fell in the second quarter, driven by a decline in trade to the European Union. Overseas sales in that category decreased to $93 billion in the three months through June, down 2.1% from a year earlier, Office for National Statistics (ONS) data. Those to the EU dropped 1.7 billion pounds, primarily caused by ...

Bloomberg Texas Instruments Inc shares plunged the most in almost 11 years after the chipmaker gave a weaker-than-expected forecast and warned that trade tension is making customers far more cautious. The report spurred a selloff in semiconductor stocks. Investors have poured money into chip stocks this year, betting on a rebound in demand. That hasn’t happened as a US-China trade ...

Bloomberg House Financial Services Committee Chairwoman Maxine Waters said Facebook Inc should cease work on its cryptocurrency project until the company addresses a series of unrelated “deficiencies” in its social-media business. Waters, speaking at a hearing featuring CEO Mark Zuckerberg, cited Facebook’s misappropriation of users’ personal data, its role in allowing Russia to influence the 2016 presidential election and the ...

Bloomberg India is considering placing curbs on some imports from Turkey and Malaysia, in response to their leaders’ comments on the autonomy of Kashmir, people familiar with the matter said. Prime Minister Narendra Modi’s government is exploring the possibility of both tariff and non-tariff measures to limit import of goods from the two countries, the people said, asking not to ...

Bloomberg The Philippine capital is granting tax perks as it seeks to restore the historic city to its glory, Mayor Francisco Domagoso said in his speech before businessmen. Companies that build along Escolta Street in the country’s old business district will be exempted from business and real property taxes for 15 years, Domagoso said in a speech at the Management ...

Bloomberg Infosys Ltd dragged India stocks lower after an anonymous whistle-blower complaint alleged the software exporter used irregular practices to shore up profits. The S&P BSE Sensex declined 0.9% to 38,963.84 in Mumbai. The NSE Nifty 50 Index slipped 0.6%. Infosys sank 16%, weighing the most on both gauges and offsetting post-earning gains in HDFC Bank Ltd and Reliance Industries ...

Bloomberg Hong Kong Financial Secretary Paul Chan unveiled a range of relief measures worth about HK$2 billion ($255 million) targeting tourism and the transportation industry in a renewed effort to help businesses grappling with the economic fallout of ongoing political turmoil. Widening the scope of a 50% rent reduction announced in an earlier package to include some car parks, restaurants ...

Bloomberg China Inc is struggling to offload overseas businesses and the accompanying debt in an increasingly volatile market. In just a few weeks, companies from yacht makers to luxury clothing and pizza outlets — acquired by Chinese firms in recent years — have either scrapped planned initial public offerings or sought alternatives to reduce their debt piles. Ferretti SpA, the ...