International News

Bloomberg Europe’s wheat loss is a win for Canadian farmers. After a scorching summer fried wheat crops across the European Union, the bloc is set to lose its position as the world’s third-largest exporter as Canada usurps the title, according to the US Department of Agriculture. The agency cut its outlook for EU wheat exports by 16 percent to a ...

Bloomberg President Donald Trump has presided over an accelerating economy and the lowest unemployment in years, but American workers still aren’t seeing it in their wallets. US average hourly earnings adjusted for inflation fell 0.2 percent in July from a year earlier, data showed, notching the lowest reading since 2012. While inflation isn’t high in historical terms, after years of ...

Bloomberg KKR & Co. is expanding its growth-equity group, adding to its New York office under the leadership of Erica Martin. The firm will add four or five people to the team focusing on technology, media and telecommunications in the next couple of months, according to Martin, who joined earlier this year from buyout firm Warburg Pincus. KKR had about ...

Bloomberg India is arguably the world’s toughest smartphone market — just ask Apple. Yet Chinese manufacturer OnePlus has found a path to success in the country of 1.3 billion. As Pete Lau, OnePlus’s co-founder and chief executive officer, describes it, OnePlus targeted younger users with stylish and affordable Android-based phones. Rather than plastering shops with ads, student ambassadors promote the ...

Bloomberg Qualcomm Inc., the smartphone chipmaker fighting regulatory actions and lawsuits threatening its most profitable business, has reached a settlement with Taiwan’s antitrust regulators that reverses most of a $773 million fine. As part of an agreement announced by the Fair Trade Commission, the company will invest $700 million over the next five years and boost research activities in Taiwan, ...

Bloomberg Asian borrowers faced with rising refinancing needs are expected to actively engage bondholders ahead of debt maturities as they look to stave off default risks. That means getting investors to agree to discounted buybacks and maturity extensions, so-called liability management deals that can help firms cut funding costs. More issuers are in talks with their legal advisers to reassess ...

DUBAI / Emirates Business Nissan Motor Co., Ltd. will build more models using a new type of steel that combines high tensile strength with a previously unachievable degree of formability, resulting in lighter vehicles that can help lower emissions while protecting occupants. Nissan is the world’s first carmaker to use the high-formability steel, with a tensile strength of 980 megapascals, ...

Bloomberg China Tower Corp., the company behind the world’s largest initial public offering in two years, averted a repeat of smartphone maker Xiaomi Corp.’s disappointing coming-out party last month and eased concerns about future IPO prospects. Shares of the state-run company, which operates almost all of China’s mobile-phone towers, closed unchanged from its IPO price of HK$1.26 in Hong Kong. ...

Bloomberg Tesla Inc Chief Executive Officer Elon Musk and advisers are seeking a wide pool of investors to back a potential take-private of the automaker to avoid concentrating ownership among a few new large holders, according to people familiar with the matter. Tesla is holding early discussions with banks about the feasibility and structure of a possible deal, the people ...

Bloomberg Oracle Corp is named in a lawsuit alleging the company’s executives lied to shareholders when they explained why cloud sales were growing. The investor leading the case, the City of Sunrise Firefighters’ Pension Fund, claimed Oracle engaged in coercion and threats to sell its cloud-computing products, creating an unsustainable model that fell apart, according to the suit seeking class-action ...