International News

Bloomberg Tesla Inc said an isolated battery fault caused a Model S to catch fire in a Shanghai parking lot two months ago, as the US electric-car maker tries to ease safety concerns in its second-largest market. A joint investigation with experts and executives from China and the US found no “systematic defect” with the car, Tesla said in a ...

Bloomberg Vietnam is buying more US goods to help it reduce a $39.5 billion surplus, after President Donald Trump called the country a trade abuser. “Vietnam has made great efforts to improve the trade balance between the two countries, increasing imports,” Ministry of Foreign Affairs spokeswoman Le Thi Thu Hang said in a statement. Vietnam is improving investment conditions for ...

Bloomberg Ex-Nissan Motor Co Chairman Carlos Ghosn abruptly cancelled a press conference scheduled only hours before, at which he was due to “speak out” about his case. It would have been his first briefing in person since his arrest in November. Only hours after announcing the hastily arranged briefing, reports emerged that Ghosn would not appear at the event and ...

Bloomberg A travel planner in India backed by the world’s second-largest asset manager Vanguard Group has defaulted on debt and its shares fell to a record low, as cracks in the nation’s credit market spread. Cox and Kings Ltd has paid only 500 million rupees ($73 million) of the two billion rupees due on unsecured commercial papers, according to an ...

Bloomberg Relief for Asia’s most overworked country doesn’t come easy. South Korea’s new legal limit on working hours — down to 52 hours per week from 68 — can shave as much as 0.3 percentage point off economic growth in 2020, according to Goldman Sachs Group Inc. “The new work-hour limit comes against the backdrop of slowing growth, highlighting the ...

Bloomberg Using code rather than concrete, European companies are busy building walls to protect their data, and are being encouraged by local politicians concerned about threats to their sovereignty. France’s biggest supplier of drinking water is one example. Before switching to Google’s cloud-based office software, Veolia Environnement SA first hired cybersecurity company Atos SE to handle the encryption of its ...

Bloomberg Blackstone Group LP is set to close on more than $12 billion for its debut infrastructure fund, anchored by money from the kingdom of Saudi Arabia, according to people with knowledge of the matter. That figure is expected to be finalised in the coming weeks, said the people, who asked not to be identified because the information isn’t public. ...

Bloomberg Europe’s steel industry faces a “tsunami of problems” if a relaxation of import restrictions goes ahead as planned next week, according to steelmakers including top producer ArcelorMittal. From July 1, steelmakers from outside European Union will see tariff-free quotas increase by 5 percent, raising the risk of more supplies into the bloc. While the industry remains optimistic, the-re are ...

Bloomberg Just a few weeks into California’s dry summer season, fires linked to PG&E Corp. have already started to break out. More than 2,000 acres burned in Monterey County last week, with power lines blamed as the cause. Earlier this month, a transformer burst into flames in Marin County, north of San Francisco, and ignited a brush fire. In San ...

Bloomberg American technology companies have resumed selling certain products to Huawei Technologies Co after concluding there are legal ways to work with the Chinese telecom giant in spite of its inclusion on a Trump Administration blacklist. Micron Technology Inc, the largest US maker of computer memory chips, said that it had started shipping some components to Huawei after its lawyers ...