International News

Bloomberg UK manufacturing growth held steady in June, providing some modestly good news at the end of the worst quarter for the sector since the end of 2016. IHS Markit’s Purchasing Managers Index for the industry stood at 54.4 in June, up from a revised 54.3 in May and beating economists’ estimates for a drop. The average reading for the ...

Bloomberg Eclipsed by Brexit headlines, the most puzzling economic problem facing Britain is back in the limelight. Abysmal productivity growth has plagued the UK for a decade, sapping its underlying strength and undermining wage growth. Countless explanations and solutions have been proffered, and now the debate is raging again after a proposal that fixing it be made one of the ...

Bloomberg Canadian auto parts maker Magna International Inc. has joined a chorus of automotive companies urging the US not to impose tariffs on their products. The proposed tariffs would negatively affect both the US and Canada, cut jobs, and raise prices for consumers, Magna, among the the largest automotive suppliers in the US, said in a letter to US Commerce ...

Bloomberg Tesla Inc. reached a milestone critical to Elon Musk’s goal to bring electric cars to the masses — and earn some profit in the process — by finally exceeding a long-sought production target with the Model 3. By building more than 5,000 of the sedans in the last week of the second quarter, Tesla “just became a real car ...

Bloomberg India’s top steelmaker JSW Steel Ltd. says it’s scouting for more deals in the US and Europe to expand its global footprint, betting that vibrant growth will underpin demand in overseas markets and complement a boom at home that’s seen the mill ramp up local output. “What is driving us is that, inherently, we find it is an interesting ...

Bloomberg Hyundai Motor Co. joined a chorus of rebuke from global automakers against possible import tariffs by the Trump administration, warning the duties would be “devastating” to the Korean automaker and its US operations. The tariffs “would not only harm Hyundai Motor’s US business operations and the American workers and communities the company supports, but it would also jeopardise Hyundai ...

Bloomberg South Korea’s exports slightly contracted in June, adding to concerns about the health of the country’s economy. Shipments fell 0.1 percent from a year earlier, compared with the 2.2 percent gain forecast in a Bloomberg survey of economists. Imports increased 10.7 percent, leaving a trade surplus of $6.32 billion, according to a statement from the trade ministry. The dip ...

Bloomberg Chinese restaurant chain P.F. Chang’s Bistro, burdened with a heavy debt load and fierce industry competition, may be headed to the auction block, private equity owner Centerbridge Partners LP said. Centerbridge bought the brand and took it private in 2012. The firm recently completed P.F. Chang’s split from Pei Wei Asian Diner, a separate restaurant chain that had been ...

Bloomberg Jaguar Land Rover is planning to build an electric vehicle in China as the iconic British manufacturer steps up its game in a fast-growing market where other luxury marques from Audi to Mercedes-Benz are plowing money to gain leadership. The automaker, which already makes the gasoline-powered E-Pace compact sport utility vehicle locally with its Chinese partner Chery Automobile Co., ...

Bloomberg German engineering group Robert Bosch GmbH plans to sell its packaging technology division that generated 1.3 billion euros ($1.5 billion) in sales last year to focus on its core business. The main pharmaceutical and food-packaging operations have insufficient synergies with the manufacturer’s other areas and can compete more effectively outside the group, Bosch said in an emailed statement. It ...