International News

Bloomberg Mexico’s next president, Andres Manuel Lopez Obrador, plans to fight tax evasion and boost revenue by clamping down on companies that take advantage of special rules for cooperatives to avoid paying tax, according to his pick for finance minister. The next government will put an end to use of cooperatives by “unscrupulous people” to evade tax, Carlos Urzua told ...

Bloomberg The US agency that administers Obamacare is freezing payments to insurers that cover sicker patients, saying a federal court ruling ties its hands. The move brought a sharp response from health insurers warning of market disruptions and higher costs. The Centers for Medicare & Medicaid Services said that the February action by the trial court in New Mexico “prevents ...

Bloomberg Reliance Industries Ltd., India’s second-largest company by market value, has been on a shopping spree this past year, with a focus on expanding the draw of its consumer offerings. Helmed by India’s richest man Mukesh Ambani, the company has struck at least 12 deals over 12 months with an estimated tab of about 289 billion rupees ($4.2 billion), according ...

Bloomberg The trade war may have just started, but China has already been making moves in the soybean world as US shipments originally destined for the nation have been cancelled or rerouted. China lowered commitments to buy 366,000 metric tons of US soybeans in the season that ends on August 31 and cut purchases by 66,000 tons in the following ...

Bloomberg Even as most global smartphone makers felt the impact of slowing smartphone sales months ago, Samsung Electronics Co. managed to weather the downturn. Not any more. The maker of Galaxy phones reported that operating income rose to $13.2 billion in the three months ended June, short of the 15.3 trillion-won average of analysts’ estimates, according to preliminary results. Smartphone ...

Bloomberg At least 27 people have died and thousands fled their homes because of flooding in western Japan, with Mazda Motor Corp. in Hiroshima halting production at the weekend. Local television showed overflowing rivers, submerged vehicles and homes crushed under landslides in what’s being described as “historic rainfall”. National broadcaster NHK reported 47 were missing. More than 48,000 police, rescuers ...

Bloomberg Another day. Another IPO. Another Chinese billionaire magically appears. Mu Rongjun, the co-founder of food-delivery behemoth Meituan Dianping, is poised to be the latest to join the club as the company announced plans to go public last month. Of the 27 billionaires to surface in Asia this year, about a third did so through initial public offerings in Hong ...

Bloomberg President Donald Trump threatened to impose tariffs on every single Chinese import into America as the world’s two largest economies exchanged the first blows in a trade war that isn’t set to end anytime soon. After months of rhetoric, a 25% levy on $34 billion of Chinese goods entering the US took effect just after midnight Washington time with ...

Bloomberg Facebook Inc. co-founder Mark Zuckerberg has overtaken Warren Buffett as the world’s third-richest person, further solidifying technology as the most robust creator of wealth. Zuckerberg, who trails only Amazon.com Inc. founder Jeff Bezos and Microsoft Corp. co-founder Bill Gates, eclipsed Buffett as Facebook shares climbed 2.4%, according to the Bloomberg Billionaires Index. It’s the first time that the three ...

Bloomberg AT&T Inc. chose a powerful insider to bolster its Washington presence by hiring Margaret Peterlin, a lawyer who occupied a top perch in the Trump administration’s State Department after advising leading congressional Republicans. Peterlin has begun work as a senior vice president for global external and public affairs, one of several executives reporting to Dallas-based David McAtee, who’s organizing ...