International News

Bloomberg Nissan Motor Co named the head of its China joint venture as chief executive officer, as the struggling Japanese carmaker seeks to heal deep divisions caused by the arrest of its former chairman and repair fraught relations with partner Renault SA. Makoto Uchida, 53, will work alongside Ashwani Gupta from affiliate Mitsubishi Motors Corp, who was named chief operating ...

Bloomberg Road hauliers said the UK government’s decision to reduce the tariffs it plans to impose on imported trucks following a no-deal Brexit doesn’t go far enough. On Tuesday, the Department for International Trade said it will impose a 10% levy on imported heavy goods vehicles instead of the 22% it had initially planned. The announcement came as part of ...

Bloomberg A jump in manufacturing fuelled a surprise improvement in German industrial production following two months of decline. While good news, the development will do little to alleviate concerns about intensifying trade tensions and waning business confidence. Output rose 0.3% from July, despite a big drop in energy, compared with economist estimates for no change. Investment and basic goods production ...

Bloomberg The European Union’s (EU) antitrust chief Margrethe Vestager says she’s asked European governments for information on tax rulings, pledging to continue a crackdown on potentially unfair corporate tax deals. Governments will have to update their status on how they use tax rulings, following up on a similar sweep in 2014 where the EU gathered information on how many corporate ...

Bloomberg The coffee market is looking increasingly bleak. While robusta futures rose on Tuesday, the gain followed the biggest daily slump in four months that sent prices to the lowest since 2010. The beans, favoured for instant drinks, have been pressured by a glut of coffee and money managers have never been so bearish. As well as a global surplus, ...

Bloomberg Oyo Hotels and Homes is raising $1.5 billion from founder Ritesh Agarwal, SoftBank Group Corp and other investors as the India lodging startup expands into foreign markets such as the US and Europe. Agarwal, 25, will spend $700 million to buy new shares in the company as part of a previously reported $2 billion plan to triple his ownership ...

Bloomberg Taiwan’s exports registered an unexpected contraction in September as rising shipments to the US and Japan were not enough to offset a steep fall in trade with China. Overseas shipments from Taiwan fell 4.6% on year in September driven by weak international demand for metals, plastics and machinery, according to a statement from the Ministry of Finance. Economists had ...

Bloomberg China could be the panacea for an orange-juice industry grappling with sliding sales in developed markets, at least for low-cost producers not caught up in trade wars. Citrosuco fits that description. The Brazilian company produces twice as much as the entire Florida industry, at about a third of the cost. For decades, it has sold the commodity to well-known ...

Bloomberg The Japanese government cut its formula-based assessment of the economy to indicate that economic conditions were worsening in August, an outcome signaling a higher risk that Japan could be entering a recession. The coincident economic index fell 0.4 point to 99.3 in August, the Cabinet Office reported on Monday, compared with an economists’ estimate of 99.4. The leading economic ...

Bloomberg This year’s railroad slump is getting worse as a slowdown in manufacturing threatens broader weakness in the US economy. There’s no bottom in sight as the decline in carloads for large US railroads widened to 5.5% in the third quarter, the biggest drop in three years, according to weekly reports from the Association of American Railroads. Shipments are down ...