International News

Bloomberg Tokyo Century Corp will buy a fifth of Yoma Strategic Holdings Ltd’s vehicle leasing business in a bid to expand in Myanmar and explore further collaboration with the Southeast Asian conglomerate. The Japanese leasing services firm will buy a 20 percent stake in Yoma Fleet via newly issued shares for $26.6 million, Yoma Group said in a statement. Myanmar’s ...

Bloomberg China’s green light to build more coal-fired power plants probably won’t usher in a flurry of new construction as most policies and investments in the top energy user will tilt towards renewable sources. More than 10 regions will be freed of their overcapacity tag in 2022, clearing a hurdle for them to resume building coal-fired plants. But many of ...

Bloomberg The Trump administration released rules for a tax break designed to encourage economic development in distressed areas throughout the US by making it easier to invest in businesses and real estate in low-income communities. Wall Street banks, private equity firms, real estate developers and others have been eagerly awaiting the regulations, which the administration said will spur $100 billion ...

Bloomberg Blackstone Group LP plans to convert to a corporation from a publicly traded partnership, a step that opens up the stock for inclusion in indexes, after watching two rivals benefit from the move. The shares jumped in early trading. Changing company’s structure will increase the firm’s “ability to reach a dramatically larger audience,” Chief Executive Officer Stephen Schwarzman, said ...

Bloomberg Canada recorded smaller trade deficits than expected in the first two months of 2019 on a rally in oil prices, but figures show the nation’s exporters are still struggling. The nation posted a smaller-than-expected C$2.9 billion ($2.2 billion) deficit in February, and Statistics Canada revised down its initial deficit forecast for January by C$1 billion. Yet, the improved trade ...

Bloomberg The first few weeks of trading in Lyft Inc.’s stock have not gone well, and that’s unlikely to change any time soon. Lyft’s share price has dropped nearly 19 percent since debuting late last month, prompting some investors to sue the company, alleging the ride-sharing service provider overstated its market position when it went public. Questions about growth and ...

Bloomberg The San Francisco Bay Area and Boston are likely at the top of the list of US regions to work for tech job seekers. But for techies interested in building the next generation of autonomous cars or supersonic jets, smaller cities may offer better opportunities. Job-seekers have good reason to search outside the top tech hubs because smaller centers ...

Bloomberg Billionaire Mukesh Ambani’s debt-fuelled bet on the rise of the Indian consumer is starting to pay off, with his retail and telecommunications businesses contributing an increasing share of revenue and profit to his $87 billion empire. The two divisions accounted for a combined 23 percent of revenue for the year ended March, up from 17 percent in the previous ...

Bloomberg China is intensifying its crackdown on makers of ineffective vaccines by introducing heavier penalties and more stringent regulations. Companies guilty of making or selling counterfeit vaccines can be fined between 15 to 30 times the value of the products involved, China News Service reported, citing the second draft of a new vaccine management law. That compares with a proposed ...

Bloomberg Working women are playing a bigger role in Japan than Goldman Sachs’ Kathy Matsui thought possible when she penned her first report on “Womenomics” in 1999. Yet the country needs to pick up the pace of change or risk being overtaken by a demographic crisis. Two decades ago, Matsui struck an optimistic note amid general gloom over Japan in ...