International News

Bloomberg The lone non-Asian trade minister at last week’s Southeast Asian leaders’ summit in Singapore, UK Trade Minister Greg Hands had plenty of room to make the case that Brexit won’t interfere with his country’s ambitious plans in the region. As it scrambles to roll over some 40 European Union trade deals into individual agreements with the UK, London has ...

Bloomberg Larsen & Toubro Ltd., India’s largest engineering and construction company, has agreed to sell its electrical unit to a consortium led by Schneider Electric SE, people with knowledge of the matter said. A deal, which values Larsen’s electrical and automation division at about 140 billion rupees ($2.1 billion) including debt, could be announced as soon as this week, said ...

Bloomberg Japan’s traditional regional utilities, already defending their territory against nimbler new entrants, face a fresh threat: one of their own is now stealing customers thanks to cheaper nuclear-powered electricity rates. Kansai Electric Power Co. is one of a few utilities to restart atomic power plants, which will allow it to offer cheaper rates as it continues its expansion outside ...

Bloomberg Panasonic Corp. will pay about $280 million to resolve US allegations that executives at its in-flight-entertainment unit improperly hid payments to consultants in the Middle East and Asia, some of whom did little or no work for the company. The Panasonic parent company, in a settlement announced, will pay $143 million in disgorgement to the Securities and Exchange Commission, ...

Bloomberg Sony Corp. shares fell the most in almost two years after the electronics maker missed profit estimates and forecast weaker sales and operating profits across most of its business units. The stock fell 6.1 percent to 5,073 yen on Tuesday in Tokyo, the biggest one-day drop since June 2016 and the first trading session after last week’s earnings. The ...

Bloomberg Chinese consumers waiting for years to lay their hands on the Porsche sports car or the 7 series from BMW AG may soon be rewarded. Imported premium cars in the $80,000 to $240,000 range are set to benefit the most from China’s planned reduction in tariffs by about half, said James Roy, a director at luxury consultancy Agility Research ...

Bloomberg Brexit is helping to drive big year for UK mergers. Dealmaking by UK companies such as J Sainsbury Plc, GlaxoSmithKline Plc and Sky Plc is poised to hit a record this year amid a surge in foreign takeover interest and domestic consolidation as local businesses brace for Brexit. Acquisitions involving British firms have soared to more than $275 billion ...

Bloomberg Twitter Inc. inked more than 30 deals with publishers including Walt Disney Co. and NBCUniversal to beef up its video offerings with more news, entertainment and sports. NBCUniversal, part of Comcast Corp., agreed to distribute live video and clips on Twitter through its media properties, including NBC News, MSNBC and E! News. Viacom Inc. is creating new show formats ...

Bloomberg President Donald Trump says his trade actions may cause “a little pain” in the short term, and a new study shows US agricultural workers could be hurt the most. The tariffs on $50 billion in Chinese imports that Trump has proposed, plus promised retaliatory duties by China, would reduce US gross domestic product by $2.9 billion and cost almost ...

Bloomberg Jan Koum’s exit from Facebook Inc. could prove costly. A speedy departure may prevent him from collecting as much as $1 billion in stock awards. The chief executive officer of messaging unit WhatsApp confirmed in a Facebook post that he was leaving the company. The announcement comes before the final three vesting dates of restricted stock unit awards tied ...