International News

Bloomberg To survive at Alibaba Group Holding Ltd. you need to work 12 hours a day, six days a week. That’s what billionaire Jack Ma demands of his staff at China’s biggest e-commerce platform. Ma told an internal meeting that Alibaba doesn’t need people who look forward to a typical eight-hour office lifestyle, according to a post on Alibaba’s official ...

Bloomberg Chevron Corp. agreed to buy Anadarko Petroleum Corp. in a $33 billion deal that adds US shale oil and African liquefied natural gas and puts it in the top ranks of the world’s largest energy companies. The takeover puts Chevron neck-and-neck with the oil and gas production of Exxon Mobil Corp. and Royal Dutch Shell Plc, both of which ...

Bloomberg General Electric Co. finalised an agreement to pay $1.5 billion to settle a US investigation into the manufacturer’s defunct subprime-mortgage business. The civil penalty will resolve claims that WMC Mortgage, a former unit of GE’s finance arm, misrepresented the quality of residential mortgage-backed securities, the US Justice Department said in a statement. GE, which first revealed the agreement in ...

Bloomberg President Donald Trump said the US will cut regulations and free up spectrum for 5G technology amid tight competition with China and other nations to develop the next genera-tion of telecommunications infrastructure. “The race to 5G is a race that America must win,” Trump said at the White House. “We cannot allow any other country to out-compete the United ...

Bloomberg Talks between General Motors Co. and electric-vehicle startup Rivian Automotive Inc. about the largest US carmaker buying an equity stake have reached an impasse and may be dead, people familiar with the matter said. GM had negotiated potentially taking a stake in Rivian and forging a partnership that may have helped the Plymouth, Michigan-based startup bring fully electric trucks ...

Bloomberg Utility giant PG&E Corp. capped its best day since going bankrupt in January thanks to California’s governor. Gavin Newsom called on lawmakers to find a way to help the state’s utilities cover the costs of devastating wildfires — costs so crippling that PG&E was forced to file for Chapter 11 in January while facing $30 billion in liabilities. He ...

PANAMA CITY / WAM At the third Global Business Forum (GBF), on Latin America, which began in Panama City, Government officials and business leaders from the UAE and the Latin America and the Caribbean (LAC), region, vowed to improve bilateral ties and expand economic cooperation. Organised by the Dubai Chamber of Commerce and Industry in partnership with Inter-American Development Bank (IDB), and ...

Bloomberg US and Chinese negotiators are discussing adding a concession on cloud computing to their trade agreement that would give foreign companies greater access to the $12 billion Chinese market, people familiar with the talks said. Chinese officials called a meeting this week with representatives of companies including Microsoft Corp, Apple Inc and Amazon.com Inc to talk about the proposal ...

Bloomberg India’s top court will review fresh evidence in the multi-billion dollar purchase of French warplanes, a potential setback to Prime Minister Narendra Modi a day before the start of national elections. A three-judge bench headed by Chief Justice of India Ranjan Gogoi said the Supreme Court will further hear petitions alleging corruption in a deal to buy 36 Rafale ...

Bloomberg An Asian rewards app that works with Alibaba Group Holding Ltd and major online brands has snagged $45 million from Japan’s Rakuten Capital and other investors. Rakuten Capital and EV Growth are leading the investment round for ShopBack, which offers cashback and other rewards for a plethora of names from Airbnb and Foodpanda to Booking.com and Alibaba’s Taobao. The ...