International News

Bloomberg PG&E Corp. has been shopping a new plan that would see the bankrupt California utility em-erge from bankruptcy in March with a $14 billion fund established to address past wildfire claims and another $20 billion statewide fund for future fires. The proposal, the first one that PG&E has made, is expected to be filed in August, according to a ...

Bloomberg The two biggest US coal miners are joining forces as the industry’s fortunes continue to wither. Arch Coal Inc. and Peabody Energy Corp. are combining mines in Wyoming and Colorado through a joint venture, the companies said in a statement. The move, which analysts said was long-expected, will create about $820 million in savings, the miners said. The deal ...

Bloomberg UnitedHealth Group Inc. won US antitrust approval for its $4.3 billion acquisition of DaVita Inc.’s physician practice group, letting the health conglomerate close a deal it struck 19 months ago to expand its business of taking care of patients directly. The Federal Trade Commission said that it had signed off on the tie-up after UnitedHealth agreed to sell assets ...

Bloomberg Workers at a major auto parts plant in Michigan are poised to return to work after a brief strike, alleviating the threat of a supply disruption for carmakers Ford Motor Co., Tesla Inc. and Fiat Chrysler Automobiles NV. The United Auto Workers called the strike after failing to reach a tentative contract agreement with Faurecia SA. A tentative deal ...

Bloomberg Apple Inc has asked its largest suppliers to consider the costs of shifting 15 percent to 30 percent of its output from China to Southeast Asia in a dramatic shake-up of its production chain, the Nikkei reported. The US tech giant asked “major suppliers” to evaluate the feasibility of such a migration, the newspaper cited multiple sources as saying. ...

Bloomberg Xiaomi Corp aims to spend an additional 5 billion yuan ($725 million) expanding its Chinese retail network over the next three years, anticipating a re-doubled effort by Huawei Technologies Co to grow its domestic market share. The smartphone maker will spend the money on expanding distribution channels and on reward programmes for its partners and sales employees, a person ...

Bloomberg Indonesia just made it cheaper for buyers to own an expensive house by raising the luxury tax threshold limit. The luxury levy of 20 percent on bungalows or high-rise condos will now apply only to properties valued at 30 billion rupiah ($2.1 million) or more, according to a Finance Ministry notification. The levy previously applied to town houses with ...

Bloomberg Hutchison China MediTech Ltd, a cancer drug developer backed by billionaire Li Ka-shing, is delaying the launch of its Hong Kong share sale that could raise about $500 million, people with knowledge of the matter said. The company is looking for an appropriate window to kick off the deal amid recent market uncertainties, the people said, asking not to ...

Bloomberg Xpeng Motors, the Chinese electric carmaker planning another fundraising round, said it has produced 10,000 sport utility vehicles. The company, which is backed by e-commerce giant Alibaba Group Holding Ltd, said in a statement it made its 10,000th G3 SUV in the city of Zhengzhou. Among the hundreds of EV startups in China, NIO Inc and WM Motor Technology ...

Bloomberg Tesla Inc is revamping its organisation in Asia to put more focus on China as the company prepares to start manufacturing in the world’s largest electric-car market, people familiar with the matter said. The company is dismantling its Asia Pacific business unit and forming a new division for Greater China that will cover the mainland as well as Hong ...