International News

Bloomberg Tesla Inc. jumped in pre-market trading after founder Elon Musk settled a lawsuit brought by regulators over his August tweet storm, reassuring investors he’ll still be calling the shots at the electric-car maker struggling to meet production goals. Under the agreement with the US Securities and Exchange Commission, Musk and the company each will pay a $20 million penalty, ...

Bloomberg Aston Martin pared back its supercharged stock-market ambitions ahead of a planned initial public offering this week, lowering the top end of its targeted range by about 11 percent. The new goal is 18.50 to 20 pounds ($24-$26) per share, the luxury car maker said in an emailed term sheet. Previously, the company had set a range of 17.50 ...

Bloomberg UK manufacturing growth unexpectedly picked up in September, rounding off the third quarter on an upbeat note. IHS Markit’s Purchasing Managers Index rose to 53.8 from a revised 53 in August and beating estimates for a drop to 52.5. Growth in output and new orders accelerated, while exports saw a modest recovery after a slump the previous month. “September ...

Bloomberg With a price tag of $75,000 a night, the Mark Hotel is now offering the most expensive hotel suite in America. Built in 1927, this iconic Upper East Side hotel underwent a major renovation from 2006 to 2009. While the historic exterior was untouched, the entire inner workings of the building were replaced, with interiors rethought by famed designer ...

Bloomberg Two gauges of activity in China’s manufacturing sector worsened in September, reflecting the nation’s economic slowdown and the fallout from the trade war with the US. The official manufacturing purchasing managers index (PMI) stood at 50.8 in September versus 51.3 in August, lower than the median estimate of 51.2 in a Bloomberg survey of economists. The Caixin manufacturing PMI, ...

Bloomberg A VTB Capital-led consortium has offered to match ArcelorMittal’s 420 billion rupee ($5.8 billion) bid for Essar Steel India Ltd., heating up the long drawn battle for the biggest steel mill being sold under India’s new bankruptcy law. Numetal Ltd., the consortium led by VTB, is willing to revise its earlier bid of 370 billion rupees for the 10 ...

Bloomberg East Japan Railway Co., which operates major rail lines in the Japanese capital, planned to suspend all train services in the Tokyo area on Sunday in preparation for Typhoon Trami, which is hitting the southwest of the country. Kansai International Airport, which serves the greater Osaka area in western Japan, closed two runways from 11 am on Sunday through ...

Bloomberg India’s monsoon, which accounts for more than 70 percent of annual precipitation, missed a forecast for normal rainfall for a second year. Showers totalled 804 millimeters — or about 91 percent of the 50-year average — in the June to September period, data from the India Meteorological Department showed. The bureau had maintained a forecast of 97 percent in ...

Bloomberg An indie Taiwanese hacker said he will not proceed with a plan to take down Mark Zuckerberg’s Facebook page and broadcast it live on Sunday. Self-professed bug bounty-hunter Chang Chi-yuan, who ferrets out software flaws in return for cash, said on Facebook this week that he would live-stream an endeavour to delete the billionaire’s account at 6 pm local ...

Bloomberg A run-in with the US Securities and Exchange Commission may prove to be the recipe for reform that corporate governance experts have said Tesla Inc.’s board needed years ago. The electric-car maker has been forced to find an independent chairman to replace Elon Musk as part of a $40 million accord with the SEC to settle fraud charges related ...