International News

Bloomberg Fiat Chrysler Automobiles NV agreed to sell its car-parts unit, Magneti Marelli, to KKR & Co.’s Calsonic Kansei in the first major deal for the Italian-American carmaker under new Chief Executive Officer Mike Manley. The transaction, valued at 6.2 billion euros ($7.1 billion), will create Japan-based Magneti Marelli CK Holdings, according to a statement. Beda Bolzenius, chief executive officer ...

Bloomberg Royal Philips NV shares fell to the lowest level in seven years after missing earnings expectations and warning trade wars and Brexit will weigh on its business. The Dutch health-technology company’s profit and sales growth missed estimates, with the shortfall most notably at the personal-health unit that makes products like electric toothbrushes, shavers and equipment to help with sleep ...

Bloomberg Four-fifths of UK companies have cut or withheld investment because of the uncertainty caused by Brexit, Britain’s biggest business lobby said. Some 58 percent of businesses have made plans to cut jobs, adjust supply chains, relocate production and services or stockpile products if no clarity emerges soon on Britain’s future relationship with the European Union after Brexit, according to ...

Bloomberg Short seller Fahmi Quadir, who’s betting against Tesla Inc., said the carmaker faces risks to its supply chain because some vendors haven’t been getting paid. Quadir, the founder and chief investment officer of Safkhet Capital LP, made a name for herself by shorting the drugmaker formerly known as Valeant Pharmaceuticals around its peak in 2015. She said her firm ...

Bloomberg Netflix Inc. will make its most important announcement of the year on Tuesday, reporting how many new customers signed up for the world’s largest paid online TV service over the past three months. With tech stocks taking a drubbing this month, investors will be seeking reassurance that the company’s disappointing second quarter was just a blip and not a ...

Bloomberg Instagram co-founder Kevin Systrom, in his first public appearance since leaving the photo-sharing app, said he felt comfortable moving on because it was already on a path to broader success at parent company, Facebook Inc. “It didn’t feel done by any stretch of the imagination, but it felt like it was in orbit, and if we let go and ...

Bloomberg The US, China and the European Union moved a few steps closer to a major clash at the World Trade Organisation (WTO) that risks testing the global trade referee’s neutrality and President Donald Trump’s patience for an institution he already hates. In a volley of filings, the EU, China and the US this week escalated disputes over new US ...

Bloomberg Chinese President Xi Jinping vowed “unwavering” support for the country’s private sector, the latest response from Beijing to concern over the outlook for the economy. “Any words and practices that negate and weaken the private economy are wrong,” Xi said in a letter to private entrepreneurs, Xinhua News Agency reported on Sunday. “Supporting the development of private enterprises is ...

Bloomberg Singapore and the European Union (EU) signed free-trade and investment protection agreements in Brussels in a bid to improve bilateral business ties amid rising global trade conflicts. Singapore and the EU will remove tariffs, reduce technical barriers, and provide better opportunities in services and government procurement under the deals, the Singapore government said in a statement. The city-state will ...

Bloomberg SoftBank Group Corp. has lined up commitments for a loan of about $9 billion for its massive Vision Fund, provided by banks including arrangers of its Japanese wireless business’s initial public offering, people with knowledge of the matter said. The IPO’s top underwriters, which include Nomura Holdings Inc. and Goldman Sachs Group Inc., are finalising terms of the loan ...