International News

Bloomberg China is stepping up its efforts to rein in the country’s internet, singling out Tencent Holdings Ltd’s popular news app for spreading vulgar information while shutting down more than 700 websites and thousands of apps in the span of three weeks. The Cyberspace Administration of China has scrubbed the web of more than 7 million items since January 3, ...

Bloomberg General Oyster Inc, Japan’s largest oyster restaurant operator, has been approached by several Chinese companies interested in buying a stake or perhaps acquiring the business, according to people familiar with the matter. Three Chinese firms, including a large internet company, have expressed interest in separate deals with General Oyster, said the people, asking not to be identified because the ...

Bloomberg President Donald Trump’s trade war has sparked a surge in lobbying in the fight over his tariffs. American companies and business groups mostly opposing Trump’s tariffs closed out an active year of lobbying on trade issues in 2018. They expect a busy 2019 as the trade conflict continues and action is pending in Congress on a renegotiated deal with ...

Bloomberg International Business Machines Corp (IBM) gave a positive forecast for 2019 and beat analysts’ estimates for quarterly sales and earnings, led by its business that helps companies and governments manage their technology. Revenue was $21.8 billion in the fourth quarter, topping the average analyst forecast of $21.7 billion. Earnings were $4.87 a share, also beating analysts’ forecasts. IBM said ...

Bloomberg Google and Facebook Inc set company records for annual lobbying spending in 2018 as Washington’s scrutiny of Big Tech intensified. Alphabet Inc’s Google unit spent more than $21 million to influence Washington, according to federal disclosures, in a year when its chief executive officer, Sundar Pichai, made his first appearance before Congress. The search giant, which spent $4.9 million ...

Bloomberg ASML Holding NV, Europe’s largest semiconductor equipment maker, forecast first-quarter sales well below analyst expectations, mainly due to a fire at a strategic supplier. Shares fell as much as 4.9 percent to 134.50 euros at the market open. ASML Chief Executive Officer Peter Wennink said in Bloomberg TV interview that the mobile phone market “is not where I believe ...

Bloomberg PG&E Corp expects its looming bankruptcy to take about two years to resolve and has arranged $5.5 billion to fund its operations during the process. Its shares and bonds both gained. Four banks agreed to provide debtor-in-possession fun-ding including a $3.5 billion revolving credit facility, the embattled California utility said in a filing. “It’s a pretty substantial amount of ...

Bloomberg Ever since negotiators from the US and China sat down in Beijing after a Christmas meltdown in global markets, President Donald Trump has sought to calm investors and claim his trade talks are making great strides. But that glosses over a more uncomfortable reality. According to people close to the discussions, the two sides have so far made little ...

Bloomberg The US has indicated it will pursue the extradition of a top Huawei Technologies Co. executive, Canada’s ambassador to Washington said, suggesting the case might not be resolved in trade talks with China. Ambassador David MacNaughton confirmed in an email that US officials have continued to signal an intent to follow through on the case against Huawei Chief Financial ...

Bloomberg The chairman of a Hong Kong-listed property developer and his wife cut their stake just as the stock plunged 89 percent. Shares were halted from trading after sinking again on Tuesday. Shum Tin Ching and his wife Wang Xinmei sold 93.6 million shares of Jiayuan International Group Ltd at an average of HK$2.7611 apiece — about a 79 percent ...