International News

Bloomberg Sales by Canadian wholesalers in March rose by the most in more than a year, another sign the economy is emerging from a temporary slow patch. Wholesale sales rose 1.4 percent during the month, the fastest increase since October 2017 and the fourth straight monthly gain, Statistics Canada reported. Economists surveyed by Bloomberg were expecting a gain of 0.9 ...

Bloomberg Robert Bosch GmbH agreed to pay 90 million euros ($100 million) to end a probe by German prosecutors into rigged diesel engines, following much more costly settlements by its customer Volkswagen AG. Bosch is being fined for “negligent breach of supervision duties,” the prosecutor’s office in Stuttgart said in an emailed statement. The company supplied about 17 million engine-control ...

Bloomberg German business confidence fell to the weakest in more than four years as the escalation of global trade tensions weighed heavily on outlook. Along with a survey showing manufacturing still contracting and new orders falling, it’s a reminder of the shaky situation Europe’s largest economy is in. Its car industry is in upheaval and industrial giants such as Thyssenkrupp ...

Bloomberg Brookfield Asset Management Inc and Fortress Investment Group are among the bidders for a portfolio of 15 hotels owned by Anbang Insurance Group Co, according to people familiar with the sales process. Blackstone Group LP, South Korea’s Mirae Asset Management, and GIC Pte, Singapore’s sovereign wealth fund, are also among the bidders for the hotels, the Financial Times reported, ...

Bloomberg Masayoshi Son can’t stop talking about how artificial intelligence (AI) is going to change the world. Now SoftBank Group Corp will finally have a board member who is an expert on the subject. SoftBank named a new director: Yutaka Matsuo, a professor at the University of Tokyo who focuses on social network mining, natural language processing and AI. SoftBank ...

Bloomberg The US crackdown on Huawei Technologies Co could make Apple Inc’s already troubled business in China even more difficult, hobbling iPhone sales in the world’s biggest smartphone market and disrupting the company’s supply chain, according to analysts. US President Donald Trump effectively banned US companies from working with Huawei. That’s sparked concern on Wall Street about potential retaliation by ...

Bloomberg Escalating tensions between Washington and Beijing are wiping billions from the net worth of China’s richest surveillance tycoons. The billionaires behind Hangzhou Hikvision Digital Technology Co and Zhejiang Dahua Technology Co have watched their combined fortunes sink by more than $8 billion since March 2018 as shares of both companies sank on speculation of potential US sanctions. The losses ...

Bloomberg The Trump administration is preparing to announce another round of aid to farmers hurt by the trade war with China as soon as Thursday, people familiar with the plan said, a package of assistance that could exceed $15 billion. The aid plan is largely modelled on the program the administration put in place last year after China slapped retaliatory ...

Bloomberg BP Plc lined the road leading to its annual shareholder gathering in Scotland’s oil capital with hoardings touting investments in renewable energy. Inside the meeting, there was a fierce debate on whether the energy major was telling the truth. Investors large and small grilled BP’s Chairman Helge Lund and Chief Executive Officer Bob Dudley for over two hours on ...

Bloomberg California sued the Trump administration over the government’s decision to withdraw a grant of almost $1 billion that would have funded a high-speed rail project, suggesting the move was a political response to the state’s challenge of the president’s declaration of an emergency on the southern border. The Federal Railroad Authority announced it would cancel the grant on February ...