International News

Bloomberg Billionaire Wang Jianlin is setting his sights back on China after government scrutiny of his group’s overseas deals resulted in an end to a global expansion spree. Wang’s Dalian Wanda Group Co unveiled plans to spend $11.6 billion in the northeastern city of Shenyang, the biggest of the mainland investments it announced in the past six months. The money ...

Bloomberg Tencent Holdings Ltd’s quarterly earnings beat estimates, boosted by gains on investments, giving shareholders much-needed assurance the Chinese gaming behemoth is bound for a revival. Net income rose 17 percent to 27.21 billion yuan ($4 billion) in the three months ended in March compared with the 19.4 billion-yuan average of analysts’ estimates. Revenue climbed 16 percent, about a third ...

Bloomberg Tata Sons Ltd is set to transfer all its branded food businesses to Tata Global Beverages Ltd from Tata Chemicals Ltd, according to people with knowledge of the matter, as India’s biggest conglomerate streamlines its corporate structure. Tata Global Beverages will buy all food brands and give shares in return to Tata Chemicals, the people said asking not to ...

Bloomberg Masayoshi Son isn’t losing his appetite for backing money-losing startups. Son’s SoftBank Vision Fund is leading an investment round of more than $200 million in Grofers, the Indian online grocery startup said in a statement. Tiger Global and Sequoia Capital and new investor KTB joined SoftBank in the deal, which pushes the company’s valuation to almost $1 billion even ...

Bloomberg Indonesia is worried about being targeted by Donald Trump in a wider protectionist push, as trade tensions between the US and China continue to escalate, a senior minister said. The Southeast Asian nation’s large trade surplus with the US may invite further scrutiny by the Trump administration even as the spat between the world’s two biggest economies offers potential ...

Bloomberg T-Mobile US Inc. and Sprint Corp., fighting to win regulatory clearance for their $26.5 billion merger, are considering possible concessions to salvage the deal, according to people familiar with the situation. Among the top options being discussed is the separation and potential sale of their so-called prepaid businesses, said the people, who asked not to be identified because the ...

Bloomberg Germany’s economy emerged from stagnation at the beginning of 2019, returning to growth despite a slump in manufacturing that could worsen because of escalating global trade tensions. The 0.4% expansion signals some strength across the euro area in the first quarter amid a better-than-expected performance in a number of countries. But industry is under pressure and the region is ...

Bloomberg Sanofi is joining other big pharmaceutical companies in expanding beyond pills and injections into a new frontier of tech-based treatments that doctors can prescribe. Working with partner Happify Health, the French drugmaker is studying a potential digital therapy for patients with depression and multiple sclerosis. That follows the launch last year of a similar type of prescription treatment from ...

Bloomberg British Steel Ltd., one of the UK’s largest steel producers, said it’s in discussions with the government for extra funding to solve a cash crunch caused by Brexit. The money would be in addition to a 120 million pound loan ($156 million) granted by the government to cover the cost of meeting obligations under the European Union’s carbon trading ...

Bloomberg Nissan Motor Co predicted annual operating profit below even the most pessimistic analyst’s estimate and cut its dividend for the first time in a decade, giving partner Renault SA a potential opening to push for greater control over their automaking alliance. Hurt by slumping US sales, aging vehicle models and an out-of-sync product cycle, the Japanese automaker issued an ...