International News

Bloomberg India’s factory output contracted for the first time in more than two years in August, as a sharp fall in capital goods and consumer durables production weighed on activity. The index of industrial production fell 1.1% in August, data released by the Ministry of Statistics showed Friday. That compares with an estimate for a 1.7% expansion. The decline, last ...

Bloomberg The tumultuous saga of former Indian billionaires Malvinder and Shivinder Singh seems to be entering a decisive stage. Scions of one of the nation’s most prominent business families, the Singh brothers were arrested and brought into a New Delhi trial court to face charges of fraudulently diverting nearly $337 million from a lender they controlled. The arrests send a ...

Bloomberg Holiday shoppers in the Philippines — which has some of Asia’s biggest malls — prefer to buy products in stores over mobile shopping, according to a study commissioned by Facebook Inc. Almost four in 10 Filipinos said in-store shopping is their first choice for the holidays, according to a study conducted by Ipsos Marketing and released by Facebook last ...

Bloomberg US antitrust enforcers have started an in-depth review of Google’s $2.6 billion planned acquisition of a data analytics company, a further sign of greater scrutiny on big technology companies, according to people familiar with the situation. The antitrust division of the US Department of Justice (DOJ) is seeking more information from Google and Looker Data Sciences Inc related to ...

Bloomberg The Securities and Exchange Commission (SEC) obtained a restraining order to stop the encrypted messaging app Telegram from flooding the US with digital tokens, claiming that its coins are unregistered securities that can’t be sold to American investors. The order halts Telegram from selling digital tokens known as Grams, according to a complaint unsealed in federal court in Manhattan. ...

Bloomberg The United Auto Workers (UAW) made a counter proposal to General Motors (GM) Co that would end a nearly month-long strike if the automaker agrees, capping a tumultuous day in which the union and company traded barbs and blame. UAW Vice President Terry Dittes offered no specifics on the proposal in a letter sent to members and published on ...

Bloomberg The UK government signed freight contracts worth as much as 87 million pounds ($110 million) to help ensure supplies of vital medicines amid concerns about post-Brexit disruptions. The contracts will be fulfilled by Brittany Ferries, DFDS A/S, P&O and Stena Line Travel Group AB, and will be provided across 13 routes, according to an emailed statement from the Department ...

Bloomberg Volkswagen AG is weighing options for its Lamborghini supercar brand, as the German manufacturer moves ahead with an overhaul aimed at more than doubling its market value and getting ahead of an expected industry shakeout, according to people familiar with the matter. The options VW is mulling include a sale or stock listing, said the people, who asked not ...

Bloomberg China is flexing its economic muscle for political ends, with more local sponsors of the National Basketball Association’s (NBA) mainland events suspending their ties with the league over a tweet that backed Hong Kong’s protesters. Following the decision by China’s state television and tech giant Tencent Holdings Ltd to not show pre-season NBA games, the country’s largest sportswear maker ...

Bloomberg The worst crisis to hit Japan’s nuclear industry since the 2011 Fukushima disaster threatened to entangle PM Shinzo Abe’s ruling party amid scrutiny of donations to lawmakers. Hiroshige Seko of the Liberal Democratic Party received 6 million yen ($56,000) of donations from the president of a company linked to the furor surrounding Kansai Electric Power Co’s nuclear operations, Kyodo ...