International News

Bloomberg President Donald Trump has ordered a rescue of the nation’s struggling coal and nuclear power industries, but that doesn’t mean utilities are reconsidering the shutdown of unprofitable plants. Many power generators contacted said Trump’s June 1 announcement hasn’t altered their plans to retire old units even as the administration dangles the prospect of using emergency powers to force grid ...

Bloomberg Audi CEO Rupert Stadler was arrested in Munich in connection with the diesel-cheating scandal, making him the highest-profile target in the probe that’s engulfed the carmaker and parent Volkswagen for almost three years. Munich prosecutors investigating Audi’s role in the 2015 scandal confirmed they arrested Stadler, 55, in the Bavarian capital because of risk he may tamper with evidence, ...

Bloomberg CYBG Plc agreed to buy Virgin Money Holdings UK Plc for about 1.7 billion pounds ($2.3 billion) in an all-stock transaction, creating a bank with about six million customers to challenge Britain’s largest lenders. The purchase of the Richard Branson-backed bank gives consumer and business lender CYBG greater scale, potential cost savings and access to the firm’s presence on ...

Bloomberg The US Supreme Court agreed to hear Apple Inc.’s bid to kill an antitrust lawsuit over the market for iPhone apps in a case that could shield e-commerce companies from consumer claims over high commissions. The lawsuit accuses Apple of monopolising the app market so it can charge excessive commissions of 30 percent. Apple, backed by the Trump administration, ...

Bloomberg LaSalle Hotel Properties picked Blackstone Group LP as its preferred suitor, thwarting months of efforts by Pebblebrook Hotel Trust to buy the luxury-hotel owner, most recently for more than $4 billion. The Blackstone transaction values the company at $4.8 billion, LaSalle said on Monday in a statement. LaSalle’s board deemed a June 11 offer from Pebblebrook “substantially similar” to ...

Bloomberg China’s response to US tariffs aims to hit the Trump administration right in its natural resources. The world’s largest commodities consumer said it will levy a first round of tariffs on $34 billion worth of US agriculture products, as well as automobiles, starting from July 6. Another $16 billion in goods, including coal and oil, will be subject to ...

Bloomberg ZTE Corp. unveiled a settlement with the US government to rescue the Chinese telecom-equipment maker. But investors put a steep initial estimate on the cost of the deal: at least $2.7 billion. ZTE agreed to pay at least $1 billion in penalties and overhaul its leadership to escape essentially a death sentence. That still leaves it with the challenge ...

Bloomberg China’s home prices rose by the most in 19 months in May even as the government pressed ahead with a two-year campaign to curb property speculation. New-home prices in 70 cities tracked by the government gained 0.8 percent from a month earlier, according to Bloomberg calculations based on data from the National Bureau of Statistics. That compared with a ...

Bloomberg Samsung Electronics Co. was told to pay $400 million after a federal jury in Texas said it infringed a patent owned by the licensing arm of a South Korean university. Samsung pledged to appeal. Qualcomm Inc. and GlobalFoundries Inc. also were found to have infringed the patent but weren’t told to pay any damages to the licensing arm of ...

Bloomberg The Japanese Cabinet approved a new mid-term economic plan that further delays efforts to rein in debt and removes an important cap on spending. The plan for economic policy making and fiscal management for the next three years targets a primary balance surplus by fiscal 2025, five years later than the previous goal, and drops $4.5 billion limit on ...