International News

Bloomberg China can fish in parts of the South China Sea where the Philippines holds exclusive rights, President Rodrigo Duterte’s spokesman said, despite warnings from other officials this would be unconstitutional. Duterte is giving China this “privilege” out of friendship, and because of funding and trade relations extended by Beijing to his government, presidential spokesman Salvador Panelo said in an ...

Bloomberg As a monster Asian trade pact enters its next round of deliberations this weekend, Deborah Elms is upbeat about its prospects for completion this year — though perhaps without all 16 members. The Regional Comprehensive Economic Partnership — which includes all 10 Southeast Asian economies plus China, Japan, South Korea, India, Australia, and New Zealand — could be finalised ...

Bloomberg Indonesian prisons are overflowing with convicts and authorities worried about their negative influence on city dwellers are exploring shifting them to some of the uninhabited islands in the archipelago. Overcrowded jails mean petty criminals like chicken thieves are lodged together with drug traffickers and terrorists, according to Indonesia’s Coordinating Minister for Politics, Legal, and Security Affairs Wiranto. The inability ...

Bloomberg India is considering tougher rules for audit firms, including a cap on the number of listed companies they can examine, according to a person with knowledge of the matter, as the government seeks to tighten oversight after a recent spate of governance lapses. To stamp out conflicts of interest, the corporate affairs ministry is also weighing either a complete ...

Bloomberg French President Emmanuel Macron offered a political boost to the fraught partnership between Renault SA and Nissan Motor Co, calling for their car-making alliance to be strengthened. The combination is “a giant and a force that must not only be preserved but developed through synergies and alliances in all their forms to make it stronger in the face of ...

Bloomberg FedEx Corp. predicted a “transition year’’ for fiscal 2020, with an improving outlook for e-commerce profits tempered by concerns that international trade tensions will worsen. Revenue per package in the ground-delivery operation rose 2.2 percent in the quarter ending on May 31 as volume growth accelerated to 8.8 percent, FedEx said in a statement. That signalled progress in the ...

Bloomberg BMW AG isn’t showing much enthusiasm to get on board with a German government push to establish battery cell production in Europe, slowing a plan to create an industry that keeps pace with Asian rivals and get on the front foot on elusive climate goals. “I don’t believe it makes sense for every carmaker to make their own cells,” ...

Bloomberg Tesla Inc. could be on the verge of a quarterly record for vehicle deliveries, though the electric carmaker will need to go “all out” in the last few days of the month, Chief Executive Officer Elon Musk wrote in an internal memo. “There is a lot of speculation regarding our vehicle deliveries this quarter,” Musk told employees in an ...

Bloomberg Oracle Corp.’s shares climbed after the world’s second-largest software maker returned to sales growth and gave a forecast indicating the momentum may continue. For investors, the results were a reprieve amid the company’s uneven transition to cloud-based computing. Revenue increased 1.1 percent to $11.1 billion in the period ended on May 31 from a year earlier, the Redwood City, ...

Bloomberg A group of creditors angling for control of PG&E Corp. is pushing to scuttle the bankrupt utility’s $31 billion restructuring plan. An ad hoc committee of unsecured lenders filed a motion to terminate the period of exclusivity that PG&E has to file a plan for emerging from Chapter 11, according to a court filing. That period ends on September ...