International News

Bloomberg An MTR Corp train derailed in Hong Kong, dealing a fresh blow for the subway operator that has become a target and battleground in the anti-Beijing demonstrations rocking the city. The incident, which occurred on Tuesday morning and injured eight people, involved three carriages that went off track and prompted the company to suspend trains running between Hung Hom ...

Bloomberg Global investors are starting to fall out of love with Narendra Modi. After pouring $45 billion into India’s stock market over the past six years on hopes that Modi would unleash the country’s economic potential, international money managers are now unwinding those wagers at the fastest pace on record. They’ve sold $4.5 billion of Indian shares since June, on ...

Bloomberg Global fund managers say German fiscal stimulus would be a greater boon to risk assets than infrastructure spending in China or aggressive central-bank policies. Uncertainty from the US-China trade war and perceived monetary-policy impotence are increasingly placing the onus on fiscal policy, according to a recent investor survey conducted by Bank of America Merrill Lynch. Yet market participants are ...

Bloomberg President Donald Trump said his administration will enter into an initial trade accord over tariffs with Japan in the coming weeks while Tokyo warned any final deal must include assurances that Washington won’t slap new tariffs on $50 billion of Japanese auto exports. In a notice to Congress, Trump also said the US will be entering an “executive agreement” ...

Bloomberg Bill Gates, who knows a thing or two about antitrust investigations, doesn’t think it’s a good idea to break up the biggest US tech companies as some politicians have suggested. The Microsoft Corp co-founder and former chief executive officer battled the Justice Department for years in the late 1990s in a bruising antitrust case. At issue was the software ...

Bloomberg Elliott Management Corp has built a stake in CNH Industrial NV in a bid for constructive engagement with the truck and tractor maker controlled by Italy’s Agnelli family, according to people familiar with the matter. Elliott, run by billionaire Paul Singer, sees value-creation potential in CNH’s plan to separate the Iveco truck business from its more profitable agricultural machine ...

Bloomberg The Swiss economy is expected to expand less quickly than previously anticipated, a knock-on effect of the trade war that’s weighing on demand across major economies. Gross domestic output is seen expanding 0.8 percent this year, compared with the Swiss government’s previous forecast of 1.2 percent. The State Secretariat for Economic Affairs kept its 2020 prediction unchanged at 1.7 ...

Bloomberg Some of Europe’s top luxury brands are targeted in President Donald Trump’s latest tariff salvo, which could affect billions of dollars in exports of American-bound handbags and men’s suits, among other products. A panel of three World Trade Organization arbiters, as expected, said the US can legally impose tariffs on an array of European exports in retaliation for Europe’s ...

Bloomberg China’s slowdown is deepening just as risks for the global economy mount, piling pressure on the authorities to do more to support growth. Industrial output rose 4.4 percent from a year earlier in August, the lowest for a single month since 2002, while retail sales came in below expectations. Fixed-asset investment slowed to 5.5 percent in the first eight ...

Bloomberg JSW Steel Ltd, India’s most valuable steel producer, is predicting declines for iron ore next year as demand from biggest consumer China eases and supplies recover. Prices may trade between $80 and $85 a ton for the rest of 2019 before sliding to $60 to $65 next year, Seshagiri Rao, joint managing director of the Mumbai-based mill, said. The ...