International News

Bloomberg ­­­­­­­­­­­­­­­ Brexit negotiations are heading for a catastrophic breakdown unless the European Union signals this week that it will allow talks to move on to trade, according to a person familiar with the UK government’s position. Without a clear sign that negotiations will progress to trade and transition arrangements by December at this week’s summit of European leaders, the …

Bloomberg PSA Group, the French automaker that purchased the Vauxhall and Opel brands, plans to cut 400 jobs at a UK plant in Ellesmere Port to adapt production to falling sales. The site needs to improve its competitiveness to match the company’s plants in France, a PSA spokesman said. The uncertainty about the future trade deals between the UK and …

Bloomberg Shares of Convatec Group Plc, the medical equipment maker whose initial public offering was London’s largest during 2016, slumped as supply shortages caused by the recent hurricanes in the Caribbean weighed on third-quarter performance. The Reading, UK-based company said its advanced wound care division experienced disruptions to manufacturing in Haina, Dominican Republic, having earlier warned of delays to a …

Bloomberg Facebook Inc. is looking to hire people who have national security clearances, a move the company thinks is necessary to prevent foreign powers from manipulating future elections through its social network, according to a person familiar with the matter. Workers with such clearances can access information classified by the US government. Facebook plans to use these people— and their …

Bloomberg Irish authorities warned some of the worst weather conditions to hit the country in 50 years will endanger lives, as Storm Ophelia’s remnants batter the coast with “extreme” conditions. Met Eireann, the nation’s weather service, extended its most severe warning nationwide for the first time ever, with Ophelia expected to bring winds in excess of 80 kilometres an hour …

Bloomberg The steering wheel may be slowly going out of style, but no one seems to have told the Ferrari set. Purchases in this rarified strata of the auto industry are accelerating far more quickly than those of the pedestrian cars and crossovers catering to the Costco crowd. Now, it’s poised to shift into an even higher sales gear. Over …

Bloomberg Indonesia is on track to become a trillion-dollar economy and should be the envy of Southeast Asia. Yet on some key measures, the region’s biggest economy is falling behind. The nation lags neighbours on infrastructure development, faces a fiscal shortfall that’s heaping pressure on the state budget and still has 28 million people living in poverty. That’s even after …

Bloomberg Li Ka-Shing’s CK Asset Holdings Ltd. sold its 75 percent holding in The Center to a Chinese-led group for $5.15 billion, a record for a Hong Kong office tower, the Hong Kong Economic Journal reported. The deal will be announced in the near future, the Economic Journal reported, without saying where it got the information. Some domestic investors are …

Bloomberg A decade after Chinese dairy companies were roiled by a scandal that poisoned thousands of children, investors are seeing the biggest players as safe bets. Inner Mongolia Yili Industrial Group Co. and China Mengniu Dairy Co. have soared to all-time highs as the companies hunt aggressively to build up their milk supply chains through foreign acquisition. Also underpinning the …

Bloomberg Until early this month, Indian jewellers expected the traditional surge in gold demand from the Hindu Festival of Diwali to be muted. The industry was struggling to cope with a slump in sales caused by a government crackdown on the black market, and efforts to increase financial transparency. In August, jewelers were dealt a fresh blow by a decision …