International News

Bloomberg The US Justice Department is pursuing a criminal investigation into whether Johnson & Johnson lied to the public about the possible cancer risks of its talcum powder, people with knowledge of the matter said. The criminal probe, which hasn’t been reported previously, coincides with a regulatory investigation and civil claims by thousands of cancer patients that J&J’s Baby Powder ...

Bloomberg New York Governor Andrew Cuomo said the state transit agency must rid city subways of a growing homeless population. In a letter sent to the Metropolitan Transportation Authority’s (MTA) board of directors, Cuomo said they should confront the issue as part of a reorganisation plan the state legislature required last month. The MTA and the city police department have ...

Bloomberg A consortium led by General Electric Co and Power Construction Corp of China Ltd was officially awarded a contract for the Batoka Gorge Hydro Electric Scheme, which involves building a 2400 megawatt power station on the border of Zambia and Zimbabwe, the Zambezi River Authority said. Both Zambia and Zimbabwe are facing a power crisis as a drought has ...

Bloomberg Volkswagen AG’s “Love Bug” has been squashed by the SUV boom. The German automaker marked the end of production of the iconic Beetle at its plant in Puebla, Mexico, and wasted no time talking about what will take its place: a compact sport utility vehicle. It’ll be a beefed-up version of a model sold in China called Tharu and ...

Bloomberg Pharmaron Beijing Co is planning a Hong Kong share sale only six months after the contract drugmaker went public in China, according to people with knowledge of the matter. The Shenzhen-listed company is working with financial advisers as it prepares to sell shares in Hong Kong as soon as this year, the people said, asking not to be identified ...

Bloomberg Geely Automobile Holdings Ltd, controlled by Volvo Cars owner Li Shufu, issued a profit warning that drove down its shares and those of other Chinese automakers as it sparked concern investors are underestimating the depths of the industry’s slump. Shares of Geely, which said first-half profit plunged an estimated 40 percent, dropped as much as 7.6 percent in Hong ...

Bloomberg Meicai, a Chinese startup that connects vegetable farmers with restaurants, is seeking at least $500 million in funding to try and grab a larger slice of a fragmented food sourcing market, people familiar with the matter said. The company is looking to achieve a valuation of between $10 billion and $12 billion, one of the people said. The figures ...

Bloomberg The US said it would grant licenses allowing companies to export goods to Huawei Technologies Co but won’t remove the Chinese technology giant from an export blacklist, as talks between the world’s two biggest economies resumed. The Department of Commerce will “issue licenses where there is no threat to US national security,” though Huawei will continue to face export ...

Bloomberg The European Commission cut its euro-area growth and inflation forecast for next year as trade tensions and policy uncertainty weigh on the region, strengthening Mario Draghi’s case for further stimulus measures. The latest warning comes just two weeks before the European Central Bank (ECB’s next policy meeting, where it may lower interest rates or signal that action is imminent. ...

Bloomberg Hyundai Motor Co expects to enter the US pickup market soon with what’s likely to be an American-made vehicle aimed at luring buyers who aren’t traditional truck owners, an executive said. “It’ll be a very versatile vehicle,” Michael O’Brien, vice president of product, corporate and digital planning for Hyundai’s US unit, said in an interview. “That has the promise ...