International News

  Bloomberg New US home construction fell in July by more than forecast to the slowest pace since early last year as builders adjusted to a pullback in demand and a pickup in the inventory. Residential starts dropped 9.6% last month to a 1.45 million annualised rate from a revised 1.6 million pace in June, according to government data. The ...

  Bloomberg Consumer price inflation cooled as gasoline prices fell by the most since the start of the pandemic, though underlying price pressures will likely push the Bank of Canada to continue delivering aggressive rate hikes. The consumer price index rose 7.6% in July from a year earlier, Statistics Canada reported in Ottawa. The inflation gauge increased 0.1% from a ...

  Bloomberg Apple Inc laid off many of its contract-based recruiters in the past week, part of a push to rein in the tech giant’s hiring and spending, according to people with knowledge of the matter. About 100 contract workers were let go in a rare move for the world’s most valuable company, said the people, who asked not to ...

  Bloomberg Denmark’s prime minister, who faces an election in coming months, is considering a cap on rising rents. Rents, which are tied to the Danish consumer price index, are rising so fast that students and other people can’t afford to pay them, Mette Frederiksen told broadcaster TV2. A cap would be temporary and could limit rental increases to 4% ...

  Bloomberg Water levels on the Rhine are set to rise over the weekend, potentially providing respite to a crisis that has snarled the shipment of energy products and other goods along one of Europe’s most important rivers. The marker at Kaub, a narrow and shallow waypoint west of Frankfurt, is set to rise to 67 centimeters, data shows. The ...

  Bloomberg Tencent Holdings Ltd’s biggest investees plummeted after Reuters reported the social media giant intends to sell all or much of its $24 billion stake in food delivery giant Meituan to appease Beijing. The social media giant has engaged financial advisors in recent months on ways to execute the sale of a roughly 17% stake, Reuters reported, citing sources ...

  Bloomberg Delivery Hero SE sought to reassure investors with an accelerated plan to reach profitability by next year driven by its Asia business despite a broader slowdown in the food delivery industry. While growth has eased following a pandemic surge, the Berlin-based company said it will generate positive adjusted earnings in fiscal year 2023. It also forecast the value ...

  Bloomberg Hanwha Q Cells — one of the few solar-panel makers with US production — is considering sites for a massive new facility as the country prepares to incentivise cleantech manufacturing. The company is evaluating sites in Georgia, South Carolina and Texas, according to documents filed in Texas. The potential project in Dallas County, Texas, would feature a suite ...

  Bloomberg Mahindra & Mahindra Ltd launched five electric sports utility vehicles designed in the UK as the automaker seeks to expedite its lagging switch to battery-powered cars in India. The SUVs will be sold under two brands — XUV and BE — the automaker said in a video presentation. The electric vehicles were conceptualised at the Mahindra Advanced Design ...

  Bloomberg Sea Ltd posted a bigger loss than expected and withdrew its 2022 e-commerce forecast, joining other online giants struggling to gauge an increasingly uncertain global economic outlook. Its shares dived 14% in New York, wiping $800 million off the wealth of founder Forrest Li. Once Southeast Asia’s most-valuable company, Sea’s shares have now fallen almost 80% since peaking ...