International News

  Bloomberg The biggest challenge to Japanese fashion giant Uniqlo’s plan to take on the US? Getting more Americans to know who they are. The apparel maker, known for its affordable cashmere sweaters and solid basics, wants to go big in one of the world’s toughest consumer markets. Although Uniqlo is a fixture in shopping streets of New York and ...

Bloomberg The UK Treasury is expected to post the largest budget deficit for any January in at least 25 years, tying the hands of Chancellor Jeremy Hunt as he faces calls to cut taxes and boost public-sector pay. In normal times, January delivers a bumper surplus as workers and companies settle their tax bills. But this year, spending is being ...

  Bloomberg SpaceX is facing a $175,000 fine from the Federal Aviation Administration (FAA) for failing to provide proper advance data about an August 2022 Starlink launch and its potential for collision with debris in orbit. “SpaceX was required to submit the data to the agency at least seven days prior to an attempted launch,” the FAA said in a ...

  Bloomberg Renault SA’s Alpine is once again in the run for a Formula 1 championship this season but with a much bigger prize in mind than just gaining a few podiums. It’s seeking women drivers. The brand, which finished fourth last year in the constructors championship, is boosting investments to develop female talent in professional racing, a male-only realm ...

Bloomberg Tesla Inc has been weighing a takeover of battery-metals miner Sigma Lithium Corp, people with knowledge of the matter said, amid rampant demand for the metal used in electric vehicle batteries. The EV maker run by Elon Musk has been speaking with potential advisers about a bid, said the people, who asked not to be identified discussing confidential information. ...

  Bloomberg Formula 1 “will never switch to electric,” Stefano Domenicali, president and chief executive officer of the motor sport group, said in an interview published by Italian newspaper Il Sole 24 Ore. To help lower emissions, F1 is developing a zero-emission petrol that “could be used by planes and vessels” as well, Domenicali said. The successor of Bernie Ecclestone ...

  Bloomberg Abbott Laboratories is facing another probe into its role in last year’s baby formula shortage that left millions of American families scrambling for vital nutrition products. Last month, Abbott received a civil investigative demand from the US Federal Trade Commission seeking information in connection with its probe of companies that participate in bids for formula contracts, according to ...

  Bloomberg The resignation of YouTube chief Susan Wojcicki after 25 years at Google is another example of an unsettling trend in Silicon Valley: High profile women are heading for the exits. Just this week, Meta Platforms Inc Chief Business Officer Marne Levine stepped down after 12 years at the social media juggernaut. Last year, Sheryl Sandberg left her role ...

Bloomberg Twitter Inc has shut two of its three India offices and told its staff to work from home, underscoring Elon Musk’s mission to slash costs and get the struggling social media service in the black. Twitter, which fired more than 90% of its roughly 200-plus staff in India late last year, closed its offices in the political centre New ...

  Bloomberg Driving a shiny new Mercedes-Benz may soon become a distant dream for many but the most affluent. The average price of a Mercedes reached some$76,590 last year — a 43% increase over 2019 levels. That chimes with the carmaker’s push even further upmarket by focusing on top-end models like the S-Class sedan to bolster profits. The company has ...