International News

  Bloomberg Shares of One 97 Communications Ltd., the parent of India’s leading digital payments brand Paytm, plunged to a record low on Tuesday after Macquarie Group Ltd. analysts flagged risks from billionaire Mukesh Ambani’s foray into the financial services business. Reliance Industries Ltd.’s Jio Financial Services Ltd. “can pose a significant growth and market-share risk” for players such as ...

  Bloomberg The Singapore police is investigating Binance.com over a possible breach of local payment services rules. “Police investigations are ongoing and we are unable to comment further,” according to a statement from the police in response to queries from Bloomberg News. The probe started when the nation’s financial regulator referred the case to the white-collar crime unit of the ...

Bloomberg Taiwan Semiconductor Manufacturing Co. founder Morris Chang said the congratulations he offered Chinese President Xi Jinping about the congress that his ruling Communist Party recently held were his own “personal” view. “Taiwan’s Presidential Office told me beforehand that if there was an opportunity, there was no need to avoid meeting or greeting him,” Chang said Monday at a press ...

  Bloomberg A revival in tourism helped Thailand expand at the fastest pace in more than a year last quarter, even as finer details of the economic data support the case for the central bank to go slow on monetary policy tightening. Gross domestic product rose 4.5% in July-September from a year ago, the National Economic and Social Development Council ...

Bloomberg Prime Planet Energy & Solutions Inc., the battery joint venture of Toyota Motor Corp. and Panasonic Holdings Corp., is searching for a new domestic manufacturing site with sea port and clean energy access as it expands to keep up with consumer demand for electric vehicles, President Hiroaki Koda said in an interview in Tokyo. The company, which formally started ...

  Bloomberg GoTo Group reported a narrower third-quarter loss, helped by cost cuts at the Indonesian ride-hailing and e-commerce giant. The adjusted loss before interest, taxes, depreciation and amortization shrank to 3.7 trillion rupiah ($235 million) from 4.2 trillion rupiah a year earlier, the Jakarta-based company said Monday. Net revenue, which strips out incentives to driver and merchant partners and ...

  Bloomberg Investors are slowly coming to terms with the sheer size of the UK government’s borrowing needs over the next few years and it doesn’t look pretty. Net gilt supply in the next fiscal year is likely headed for an all-time record, according to bank estimates. For Citigroup Inc. strategists, the increase means the market needs to find twice ...

Bloomberg Masayoshi Son is now personally on the hook for about $4.7 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, after mounting losses in the company’s tech portfolio wiped out the value of his interest in the second Vision Fund. Over the years, the Japanese billionaire’s controversial personal stakes in SoftBank’s investments drew ...

  Bloomberg Indonesia’s largest internet company GoTo Group will cut 1,300 jobs as it seeks to curtail expenses and assuage investor concerns over mounting losses. The cuts amount to about 12% of the workforce, the company said in a statement Friday. The ride-hailing, e-commerce and fintech company will begin notifying affected employees right away. GoTo joins tech giants from Apple ...

  Bloomberg India plans to allow transfer and storing personal data in some countries overseas, in a reprieve for global companies including Alphabet Inc.’s Google, Amazon.com Inc. and Meta Platforms Inc.’s Facebook. The government will “notify such countries or territories outside India to which a data fiduciary may transfer personal data,” according to the draft Digital Personal Data Protection Bill ...