International News

Bloomberg The European Union is set to offer the UK a free-trade deal deeper than any agreement that’s gone before, but will reject Prime Minister Theresa May’s demand for “frictionless trade,” according to EU diplomats. The EU’s vision for future ties with Britain will contain “about 30-40 percent” of May’s pitch for a wide-ranging trade and security deal, according to ...

Bloomberg Ford Motor Co. has told its 70,000 salaried employees that they will face unspecified job cuts as part of the automaker’s $11 billion restructuring, a bid to reverse its fading fortunes and cope with competitive pressures more nimbly. Morgan Stanley has speculated that Ford may pare more than 20,000 jobs from its global workforce of 202,000, but the automaker ...

Bloomberg Facebook Inc. has become the first big test case for the European Union’s beefed up privacy rules as Ireland’s data watchdog opened a probe into a security breach announced last week that affected as many as 50 million accounts. Ireland’s data protection authority said it has started investigating whether Facebook had “appropriate technical and organizational measures” in place to ...

Bloomberg HP Inc gave an upbeat profit forecast for fiscal 2019, signaling that the world’s largest maker of personal computers will continue to see robust demand for its growing product lineup. Profit, excluding certain items, will be $2.12 a share to $2.22 a share in the year that ends next October, the Palo Alto, California-based company said in a statement. ...

Bloomberg Economic data have returned to the forefront for investors in US Treasuries, and may be turning the market around. Ten-year Treasury yields staged their strongest single-day upswing since November 2016, driving the rate to the highest since 2011. The surge followed a record-high reading on activity in the US services sector and stronger-than-anticipated gains in a private employment survey. ...

Bloomberg Indonesia is weighing proposals to cut the levy on gains from its sovereign bonds and extend tax breaks to exporters who will park their dollar earnings in local banks for a longer period as part of measures to shore up a weakening currency. Lower bond taxes could attract more inflows and help “deepen domestic financial markets,” Robert Pakpahan, director ...

Bloomberg Tencent Music Entertainment Group, the online-music arm of China’s largest social-media company, filed for an initial public offering (IPO) in a continuing surge of US listings by Chinese companies. The music-streaming site listed its offering size as $1 billion in a filing with the US Securities and Exchange Commission. The amount is a placeholder and may change. Tencent Music ...

Bloomberg China ordered one of its top actresses and her associated companies to pay about 884 million yuan ($129 million) in taxes and fines, capping a months-long tax evasion probe that shook the nation’s blossoming entertainment industry. Fan Bingbing was personally fined about $70 million, with the remainder involving back taxes and fines against companies affiliated with the star, reports ...

Bloomberg Zimbabwe’s cabinet agreed to cut government jobs as part of a program to stabilise the economy, the Information Ministry said. The measures will help Finance Minister Mthuli Ncube reduce a state wage bill that the International Monetary Fund estimates consumes more than 90 percent of government revenue. Ncube is implementing a series of reforms to steady an economy impaired ...

Bloomberg Nothing seems to be helping India’s sovereign bond market. The optimism spurred by the government’s decision to cut its borrowing plan proved fleeting as tax collections failed to meet the target for a fifth straight month. Revenue from the goods and services tax, or GST, totaled 944.4 billion rupees ($12.9 billion) in September, falling short of the 1-trillion rupee ...