International News

Bloomberg Hong Kong took measures on Monday to help banks put more money in the hands of local businesses in a move to shore up the city’s deteriorating economy after months of unrest. The Hong Kong Monetary Authority, which operates like a de facto central bank, said it would reduce the amount of capital lenders have to maintain. The move ...

Bloomberg Apple Inc is seeing higher iPhone demand than it expected, thanks to two forces consumers find hard to resist: falling prices and the inevitable aging of older models. Since missing holiday sales targets last year, the company has cut some prices and offered more attractive trade-in deals. The iPhone 11 went on sale at $699 — $50 below the ...

Bloomberg Jeremy Corbyn’s promise to take UK privatised companies back into public ownership if his Labour Party wins power will cost almost $250 billion, according to the Confederation of British Industry (CBI). In an analysis published on Monday, the business lobby said the 196 billion-pound cost of nationalising the energy, water and rail industries, plus the postal service, will push ...

Bloomberg Porsche is intensifying its battle against Tesla with the unveiling of $116,590 version of the electric Taycan that’s pitched at a similar price point to the top-line version of the US company’s Model S. The entry-level Taycan 4S is available for pre-orders now and will enter showrooms in early January, the Volkswagen AG brand said. The model follows Porsche’s ...

Bloomberg Volkswagen AG’s plan to review options for its Lamborghini supercar division marks a further step in Chief Executive Officer Herbert Diess’s campaign to transform the world’s biggest automaker and more than double its market value. The German manufacturer is weighing a potential sale or stock listing for the Italian brand, according to people familiar with the matter, as Diess ...

Bloomberg British financial advisers and pension managers face jail and increased fines under proposed legislation announced during the Queen’s Speech to mark the new parliamentary term. Penalties for the most serious offenses will carry a maximum sentence of seven years and a $1.26 million fine, according to a briefing note that accompanied a speech read by the Queen to UK ...

Bloomberg As others automakers plan battery-powered SUVs and trucks, Toyota Motor Corp’s vision for the future of driving remains a hydrogen-sipping sedan. The Japanese behemoth will begin sales late next year of the second-generation Mirai, its fuel cell-powered four-door, and ramp up annual production by 10-fold from the current model. Toyota’s bet that it can position a hydrogen sedan for ...

Bloomberg Vietnam’s economic expansion this year may exceed the higher end of an official estimate, President Nguyen Phu Trong said. Growth may be more than 6.8%, and gross domestic product may surpass $266 billion, Trong said in a government statement on Sunday. That compares with the official 6.6% to 6.8% range forecast. Vietnam’s 2019 inflation rate is expected to be ...

Bloomberg Australia is advancing separate talks with the US, Japan and South Korea over the development of local rare earths mining projects in an effort to bolster production outside China, which dominates the output of the materials. Rare earths, a group of 17 elements needed in components for missile systems to consumer electronics, had been flagged as a potential weapon ...

Bloomberg Japan tackled rescue and cleanup operations after a powerful typhoon ripped across the country, causing major flooding and landslides and leaving at least 21 people dead and hundreds of thousands without power. More than 160 people were injured and at least 16 were missing as many areas were hit by record amounts of rainfall and violent winds, according to ...