International News

Bloomberg A lawyer, a computer scientist and China’s third-richest person are poised to create one of the year’s biggest hits in the music industry. Co-presidents Xie Zhenyu and Xie Guomin are on the brink of becoming billionaires as Tencent Music Entertainment Group prepares a public stock offering in New York that may value the company at $24.5 billion. Zhenyu’s fortune ...

Bloomberg Megvii, the owner of facial recognition technology company Face++, is in discussions with Alibaba Group Holding Ltd. and other investors as it seeks to raise at least $500 million of new funding, according to people familiar with the matter. The Beijing-based company, which already counts Alibaba as a backer, is talking with Chinese private equity investors and is considering ...

Bloomberg Interserve Plc, which builds and maintains structures for the British government, is in discussions with its bankers about ways to cut its debt after revenue declined in the UK construction unit. It is working on a deleveraging plan that aims to cut its net debt to about 1.5 times earnings before interest, taxes, depreciation and amortisation, the company said. ...

Bloomberg Fiat Chrysler Automobiles NV is planning to build a new Jeep at an idled engine plant in Detroit, beefing up capacity to build higher-margin vehicles and meet surging US demand for sport utility vehicles (SUV). The factory will assemble a new three-row version of the Grand Cherokee SUV, according to a person familiar with the matter, who asked not ...

Bloomberg The UK economy lost momentum in the three months through October, a further sign of the toll being taken by Brexit uncertainty. Growth slowed to 0.4 percent from 0.6 percent in the third quarter, the Office for National Statistics said on Monday. In October alone, growth was just 0.1 percent, with the economy being spared a third month of ...

Bloomberg A gauge of US service industries unexpectedly rose in November to a near-record level amid gains in business activity and new orders, adding to indications that the sector remains robust in the fourth quarter. The non-manufacturing index rose to 60.7, an Institute for Supply Management survey showed. That compared with estimates for a decline to 59. The advance was ...

Bloomberg Deutsche Bahn AG is restoring full rail service after suspending all German long-dist- ance trains due to a strike over pay by the EVG union that also affected some local, regional and freight lines. Long-haul traffic is gradually resuming following the walkout’s end at 9 am local time, Deutsche Bahn said on Monday. Passengers should expect restricted service throughout ...

Bloomberg Elon Musk, the chief executive officer of both Tesla Inc and Space Exploration Technologies Corp, opened up about his tumultuous year in a wide-ranging interview with CBS’s “60 Minutes.” Musk, 47, told anchor Lesley Stahl that none of his tweets have been censored since he reached a settlement with the US Securities and Exchange Commission in October. His problematic ...

Bloomberg HCL Technologies Ltd., founded by Indian billionaire Shiv Nadar’s family, was the worst performer among the nation’s top 50 companies after the software maker said it was buying some of International Business Machines Corp.’s software assets for $1.8 billion. The shares slid 5 percent to 961.95 rupees at the close in Mumbai on a day when the S&P BSE ...

Bloomberg SoftBank hired Facebook Inc. executive Kirthiga Reddy as a partner at its $100 billion Vision Fund, the first woman to join a group of just a dozen that oversees the world’s biggest pool of technology investments. Reddy has joined SoftBank Investment Advisors, which manages the giant fund globally, to focus on frontier and enterprise technology globally, according to a ...