International News

Bloomberg Ping An Insurance (Group) Co., China’s largest insurer by market value, is starting preparations for an initial public offering of its OneConnect financial management portal that could raise as much as $3 billion, people with knowledge of the matter said. OneConnect picked Goldman Sachs Group Inc., JPMorgan Chase & Co., CCB International Holdings Ltd. and Ping An Securities Co. ...

Bloomberg China’s high-tech industries are among sectors poised to gain from a fresh round of tax cuts, just as US President Donald Trump weighs tariffs to penalise them. The value-added tax on manufacturing will be cut to 16 percent from 17 percent starting on May 1 while the rate on transportation, construction, and telecommunications services will be lowered to 10 ...

Bloomberg Toyota Motor Corp. and Suzuki Motor Corp. agreed to sell each other’s hybrid cars and other vehicles in India, deepening an alliance between the companies. Toyota will supply the Corolla to Suzuki, which in turn will make the Baleno and Vitara Brezza models available for Toyota, the companies said in a statement. The timing and number of supplied units, ...

Bloomberg China will launch a pilot programme aimed at luring innovative companies back to the mainland equity market, loosening listing rules for certain firms and offering its own form of depositary receipts. Companies that meet the following criteria will be eligible for the pilot, the State Council, China’s cabinet, said in a statement posted on its website. Firms that have ...

Bloomberg Thailand will impose rules on cryptocurrencies and initial coin offerings from April to bolster investor protection, the military-run nation’s Securities and Exchange Commission said. The regulations are set to be enforced in about three weeks, and Thailand is able to move comparatively quickly on tightening oversight in part because a military administration is in power, the commission’s Secretary General ...

Bloomberg After waiting more than a year to learn the fate of its memory chip business, Toshiba Corp. investors are going to have to hold on a little longer. The Japanese technology giant said it’s missed an initial deadline to close the 2 trillion yen ($19 billion) sale of the division by the end of March, pushing back the disposal ...

Bloomberg Quebec is getting serious about taxing Amazon.com Inc. and Netflix Inc. Canada’s second-most populous province said it would make the collection of the provincial sales tax mandatory for suppliers of goods and services based outside Quebec to put them on par with local rivals. Quebec expects the measures will enable it to recover C$155 million ($120 million) in lost ...

Bloomberg BMW AG joined the growing list of carmakers sued by US drivers for installing software designed to cheat diesel-emissions tests. Drivers of “tens of thousands” of X5 and 335D model diesel cars built between 2009 and 2011 sued BMW and its technology supplier, Robert Bosch GmbH, alleging they installed algorithms designed to manipulate testing systems, using methods similar to ...

Bloomberg Melrose Industries Plc made a last-ditch effort to allay concerns over whether it would be the right owner of GKN Plc as the battle for the UK engineering company takes on a political dimension a day before its 8 billion-pound ($11 billion) hostile offer runs out. “Melrose fully stands behind its plan to work for the improvement of not ...

Bloomberg UK companies are finding it harder and harder to hire the right people and it’s having an impact on the pace of economic growth, according to a Bank of England report. That’s bad news for the UK, which is already among the slowest-growing Group of Seven economies. It’s forecast to expand 1.5 percent this year and next, weaker than ...