International News

Bloomberg Reliance Industries Ltd does not have any arrangement to buy crude oil from Venezuela’s state-owned oil company, PDVSA, for payment in cash to third parties and media reports of such a mechanism are false, it said. “Reliance has purchased Venezuelan crude oil from companies such as Rosneft long before the imposition of US sanctions, as they do get title ...

Bloomberg Nintendo Co shares jumped after China’s Tencent Holdings Ltd won approval to distribute one of the company’s games for its Switch console, a sign the Japanese company may benefit from growth in the world’s largest games market. Tencent received approval for the test version of New Super Mario Bros. U Deluxe for the handheld device, according to a notice ...

Bloomberg Apple Inc.’s legal surrender is a blow for the company’s supply chain strategy, and one of the biggest tests of its push to cut reliance on providers of key components. The iPhone maker struck a deal with Qualcomm Inc. to halt all litigation and start using the chipmaker’s modems again, likely including important new 5G versions. That ended a ...

Bloomberg Ford Motor Co. predicted an earnings boon from converting just one car plant to make trucks and sport utility vehicles. And the automaker said that factory is just the first of many that will pump out more profit. In 2021, Ford will reap $1 billion more in earnings before interest and taxes than it did two years ago from ...

Bloomberg The latest Brexit delay means more uncertainty, frozen investment and lost customers for UK manufacturers. That’s the verdict of Stephen Phipson, who represents 5,000 companies as chief executive officer of the MakeUK industry lobby group. Prime Minister Theresa May’s agreement with the European Union to postpone Brexit to October 31 from April 12 leaves companies in limbo, he said ...

Bloomberg Tesla Inc. released its first-ever environmental impact report, joining the 80 percent of S&P 500 companies who produce glossy-looking and sunny testaments to their own corporate sustainability record. There are pictures of smiling employees, solar panels in green fields, and data on the electric automaker’s performance on some environment and social metrics. The company put a total on its ...

Bloomberg Nissan Motor Co denied a report by the Nikkei that it’s planning to cut global output by around 15 percent for the fiscal year to March 2020, even as the carmaker struggles to reignite earnings and sales while dealing with the fallout from the arrest of ex-chairman Carlos Ghosn. Nissan issued a rare response calling the details in the ...

Bloomberg China didn’t follow proper procedures when it imposed trade restrictions on agricultural imports, the World Trade Organization (WTO) said in a ruling that bolsters President Donald Trump’s dispute against Beijing. China used a flawed and opaque approach when it administered tariff-rate quotas for rice, wheat, and corn, the Geneva-based arbiter of global trade disputes said on its website. It’s ...

Bloomberg Porsche AG is exploring joint projects with Chinese technology giants including Tencent Holdings, Alibaba Group Holding Ltd and Baidu Inc to expand digital offerings in its largest market and bolster sales. Country-specific features for voice recognition, navigation and integration of the ubiquitous WeChat messaging service will be developed locally, Porsche Chief Executive Officer Oliver Blume said in an interview ...

Bloomberg Ford Motor and Mahindra & Mahindra agreed to co-develop a mid-size sports utility vehicle (SUV) for India and emerging markets in an effort to sustain profitability in the world’s third-biggest car market. The new SUV will have a common Mahindra product platform and powertrain, helping to reduce product development costs and gain economies of scale, Mahindra and Ford said ...