International News

Bloomberg A key measure of US consumer prices rose by less than expected in April on lower used-car and apparel costs, testing the Federal Reserve’s message that muted inflation will prove transitory while giving President Donald Trump more ammunition to argue for an interest-rate cut. The core consumer price index, which excludes food and energy, rose 0.1% from the prior ...

Bloomberg President Donald Trump said that the US will boost its purchases of domestic farm products for humanitarian aid in an effort to offset lost demand from China as trade tensions flare between the nations. Trump said on Twitter that the US will use its money from the tariffs to buy American agricultural products “in larger amounts than China ever ...

Bloomberg Foxconn Technology Group Chairman Terry Gou said he won’t continue to lead the company’s board once a new lineup is elected at an annual shareholders’ meeting next month. “I am sure, 100%,” Gou said , referring to his determination to leave the role at Hon Hai Precision Industry Co, as the company is also known. “I am no longer ...

Bloomberg For a masterclass in the upside potential of pharma M&A, look no further than Takeda Pharmaceutical Co.s sale of an eye drug to Novartis AG. By one measure, the deal represents a 2,025% return. Shire Plc, which Takeda bought in January, obtained the assets through a 2013 acquisition. It paid $160 million upfront to gain the late-stage experimental drug, ...

Bloomberg US prosecutors in a high-profile case against Huawei Technologies are seeking to disqualify the company’s lead lawyer, saying he has a conflict of interest stemming from his former role as second-in-command at the Justice Department. James M Cole should be excluded from the Chinese smart-phone maker’s defense team because he had access to classified investigations that appear to be ...

Bloomberg China’s BAIC Group is looking to buy a stake of up to 5% in Daimler AG to cement its investment in Beijing Benz Automotive, Reuters reported, citing three unidentified people familiar with the matter. BAIC told Daimler that it was planning to buy a 4%-5% stake earlier this year, and asked local authorities in Beijing to support the purchase, ...

Bloomberg After the biggest initial public offering of the year, Uber Technologies Inc. ended its first day of trading below its last private valuation. The deflated debut cast a pall over 2019’s prospects as the hottest year for tech listings this decade — and potentially on the future of the ride-hailing industry. It took more than two ho-urs for the ...

Bloomberg Walt Disney Co. wrote off the rest of its investment in Vice Media, reflecting the ongoing troubles at the onetime media darling. The charge of $353 million marked the second time in the past year that Disney has taken a hit on the investment. Vice, which produces a high-profile news show for HBO and operates the Viceland cable channel, ...

Bloomberg Productivity gains in the US accelerated by more than expected last quarter to the fastest pace since 2014, adding fuel to the Trump administration’s argument that its tax cuts are boosting the economy without stoking inflation. Non-farm business employee output per hour increased at 3.6 percent annualised rate in the January-March period, according to Labor Department figures. That topped ...

Bloomberg One of Germany’s biggest and oldest companies wants to become carbon neutral by next year, starting a race to tap more green power, ramp up energy savings and offset emissions. Robert Bosch GmbH announced the sweeping plan that will impact 400 sites worldwide. It puts the 133-year-old company at the forefront German blue chips moving to eliminate emissions as ...