International News

Bloomberg India’s largest cement maker, UltraTech Cement Ltd., aims to aggressively cut its debt over the next two years to help prepare for more acquisitions. UltraTech, controlled by billionaire Kumar Mangalam Birla, plans to prepay some loans through its internal cash accruals, according to Chief Financial Officer Atul Daga. It targets to cut the ratio of its net debt to ...

Bloomberg China’s aspiration to deploy 30 million autonomous vehicles within a decade is seeding a fledgling chip industry, with startups like Horizon Robotics Inc. emerging to build the brains behind those wheels. The Beijing-based company is taking aim at Nvidia Corp. and Mobileye NV just as the autonomous-driving business takes off and uncertainty looms over international trade. Annual revenue from ...

Bloomberg History redux? The surging tension over trade between the US and China has prompted comparisons to American combativeness towards Japan that preceded the 1987 equity meltdown—at least, in the mind of veteran market analyst Hao Hong. While Hong, head of research with Bocom International Holdings Co., acknowledges that it’s possible to crawl up many a technical chart of a ...

Bloomberg Europe’s $38 billion a year carbon market is finally starting to work the way it was intended, reining in pollution with a minimum of squealing from industry. Thirteen years after it was created to limit carbon-dioxide emissions, prices for the allowances are rising. European Union policymakers have enacted measures expected to keep the cost of pollution on an upward ...

Bloomberg Irish packaging company Smurfit Kappa Group Plc rejected a sweetened 8.9 billion euro ($11 billion) takeover bid from International Paper Co., testing the US suitor’s resolve as the industry gains from a boom in online shopping deliveries. Smurfit’s board spurned a revised offer of 37.54 euros per share, according to a statement, adding that International Paper’s original offer was ...

Bloomberg The Trump administration is under growing pressure to explain the details of its trade policies after fears of a tit-for-tat economic conflict between the US and China sent stocks tumbling. Businesses and investors are awaiting details in the coming days of the proposed product list for the tariffs on roughly $50 billion in Chinese imports President Donald Trump announced. ...

Bloomberg Facebook Inc. has denied that the company secretly logs the calls and messages of individuals using Android mobile devices, following media reports and user complaints. In a blog post, the company said that logging is part of opt-in feature for individuals using Messenger or Facebook Lite on Android, and that it can be turned off in settings. “People have ...

Bloomberg Just two years after Ford Motor Co. bet the revival of its Lincoln luxury line on the return of the Continental sedan, it’s reversing course and going all in on sport utility vehicles instead. Despite its retro Rat Pack allusions and elegant evocation of Bentley styling, the Continental didn’t sell as expected. Sales are down 30 percent this year, ...

Bloomberg President Donald Trump’s move to slap tariffs on at least $50 billion in Chinese imports is likely to be bad news for many of China’s exporters—as well as Americans who like Guess jeans or Nike sneakers. A vast amount of items used by US consumers—from Under Armour leggings to Bath & Body Works shower gel and Samsonite luggage—are sourced ...

Bloomberg Uber Technologies Inc. has reached an agreement to sell its Southeast Asian ride-hailing business to rival Grab and could announce the deal as early as Monday morning in Singapore, people familiar with the matter said. The agreement—which includes all of Uber’s operations in Southeast Asia as well as Uber Eats in the region—gives Uber a stake of between 25 ...