International News

Bloomberg Indian startup Swiggy has raised $210 million in a round led by South Africa’s Naspers Ltd. and investment house DST Global, setting a stage for a battle between well-funded players in the sizzling food-delivery sector. The financing values the four-year-old startup at well over $1 billion, according to people familiar with the deal. That makes Swiggy the second unicorn ...

Bloomberg Hainan, the Chinese tropical island seeking to become a global tourism attraction, plans to allow foreign visitors access to currently blocked sites such as YouTube. Usage of services including Facebook and Twitter would be allowed in areas of Hainan’s two biggest cities of Haikou and Sanya, according to the provincial government’s three-year plan posted on an official website. The ...

Bloomberg President Donald Trump threatened a 20 percent tariff on cars imported from the European Union unless the bloc removes import duties and other barriers to US goods, escalating a global trade war the EU warned could endanger $300 billion in commerce. “Based on the Tariffs and Trade Barriers long placed on the US and it great companies and workers ...

Bloomberg Verizon Communications Inc. and AT&T Inc. will rein in third-party selling of their phone-location data after a prison contractor let law-enforcement officers track wireless customers without authorisation. The two largest US wireless carrier announced the move in response to a plea from Senator Ron Wyden, a Democrat from Oregon. The legislator had demanded last month that carriers and the ...

Bloomberg IHeartMedia Inc, the biggest US radio broadcaster, formally turned down a $1.16 billion bid from John Malone’s Liberty Media Corp., but other talks are continuing as the company navigates its way through bankruptcy. Liberty officially withdrew its bid June 15 after being informed that its offer for a 40 percent stake wasn’t enough to satisfy the company or its ...

Bloomberg Canada’s economy is stuck in a soft patch, but analysts remain optimistic a rebound and further interest-rate hikes are still in the cards. Data over last month reveal an economy struggling to find its footing and hobbled by headwinds ranging from trade frictions with the US to a slowing housing market and poor weat-her. Still, economists remain convinced that ...

Bloomberg Donald Trump’s threat to impose tariffs on another $200 billion of Chinese imports could cut as much as half a percentage point from the nation’s economic growth, according to economists. The warning comes amid signs that the world’s second biggest economy—and biggest contributor to global growth— is already slowing down as a simmering trade dispute with the US risks ...

Bloomberg In the global cotton market, India stands to be a winner amid escalating trade tensions between the US, the world’s top exporter, and China, the biggest buyer. The weak rupee makes India’s exports more appealing, and freight costs to the neighbouring Asian country can be relatively cheap, Keith Brown, the president of Keith Brown & Co., a brokerage in ...

Bloomberg Xiaomi Corp. has set tentative terms for the world’s biggest initial public offering in nearly two years, aiming to raise as much as $6.1 billion in Hong Kong, people with knowledge of the matter said. The Chinese smartphone maker and some existing investors plan to offer 2.18 billion shares at HK$17 to HK$22 apiece, according to the people, who ...

Bloomberg Telstra Corp. plans to cut 8,000 jobs, sell assets and potentially spin off a new infrastructure business in a make-or-break attempt to fend off competition. The stock tumbled. Australia’s former phone monopoly, which has lost more than half its market value since early 2015, said it will almost double its cost-cutting programme. An asset carve-off will raise as much ...