International News

Bloomberg India’s unemployment rate has doubled in the eight years to 2018 with the higher educated and younger population accounting for the most without jobs, a new research by a privately run university shows. After remaining at about 2 to 3 percent during the decade to 2011, the unemployment rate in India has increased to more than 6 percent in ...

Bloomberg Apple Inc. and Qualcomm Inc. agreed to end a two-year legal battle over billions of dollars of technology licensing fees that threatened the chipmaker’s most profitable line of business. Apple will make a one-time payment to Qualcomm, and the two reached a multiyear agreement whereby Qualcomm will supply chips and license its technology to the iPhone maker in exchange ...

Bloomberg International Business Machines Corp. (IBM) reported a decline in revenue from the cloud-computing, artificial intelligence and cognitive software unit that the company is hanging its future on. IBM reported a 2 percent drop, to $5.0 billion, in sales from cloud and cognitive software, in the three months ended March 31. Cloud revenue alone grew 10 percent over the last ...

Bloomberg The debate over whether the World Trade Organization (WTO) has the authority to rule on disputes involving countries’ national security was put to rest, setting up a battle with the US, which has asserted the Geneva-based body doesn’t have the standing to make such decisions. Russia and Ukraine said they won’t appeal a landmark trade decision in which the ...

Bloomberg The German economy is turning into Europe’s underperformer, with the government now predicting 2019 will see the weakest expansion in six years. Amid slowing global momentum and concerns over Brexit and trade disputes, the economy ministry on Wednesday cut its estimate to 0.5 percent, half the pace previously forecast. It’s the latest in a series of downward revisions from ...

Bloomberg As fears grow that T-Mobile US Inc.’s Sprint Corp. merger will be quashed by regulators, Chief Executive Officer John Legere is leading a personal crusade to rescue the deal. The CEO, known for his straggly hair, magenta T-shirts and Twitter antics, has made frequent trips to Washington since the proposed combination was announced in April of 2018. And he’s ...

Bloomberg A unit of HNA Group Co defaulted on a loan it took out less than seven months ago, the latest in a string of missed payments that threaten to complicate the embattled Chinese conglomerate’s restructuring. Lenders to CWT International Ltd, a Hong Kong-listed unit of HNA, said they would seize most of the company’s assets — including CWT’s stake ...

Bloomberg India cut its trade deficit with China by the most in more than a decade, according to people familiar with the data, as it boosted exports amid a US-China trade war. The South Asian nation’s exports to China jumped 31 percent year-on-year to $17 billion in the financial year ended on March 31, the people said, asking not to ...

Bloomberg Nissan Motor Co no longer has an office staffed by an inner circle of people working for the chief executive officer following the arrest and exit of former Chairman Carlos Ghosn, a person with knowledge of the change said. The team was abolished as of April 1, said the person, asking not to be identified because the information hasn’t ...

Bloomberg The new Model Y crossover that Tesla Inc hopes will satisfy growing consumer preference for bigger vehicles didn’t make it over to the Shanghai auto show. The car instead will be shown at an event in the US later this month, a spokeswoman said. Still, Tesla is showcasing two Model 3 cars, a Model X and a Model S ...