International News

Bloomberg Tencent Holdings Ltd. posted quarterly profit that beat estimates, bolstered by mobile game blockbusters like Honour of Kings and a growing advertising business. Net income at China’s largest company almost doubled to a record 20.8 billion yuan ($3.3 billion) in the three months ended December. That compares with the 16.6 billion-yuan average of estimates compiled by Bloomberg. Sales for ...

Bloomberg China’s biggest smartphone vendors are getting together for a software platform offering access to apps that can provide an alternative for WeChat’s more than 1 billion users. Huawei Technologies Co., Oppo, Vivo and Xiaomi Corp. are teaming with six smaller brands for Quick App, which lets users access a range of services including mobile payments. That’s a direct challenge ...

Bloomberg Toyota Motor Corp. halted tests of its “Chauffeur” autonomous driving system on US public roads after a Uber Technologies Inc. vehicle operating in autonomous mode under the supervision of a human safety driver struck and killed a woman in Tempe, Arizona, on Sunday evening. “Because we feel the incident may have an emotional effect on our test drivers, we ...

Bloomberg Tech startups are typically founded by young entrepreneurs with more passion than experience. This is as true in India as it is in Silicon Valley. Then there’s Bigbasket, whose founders are veterans of the dotcom bust and mostly north of 50. Drawing on their successes and failures, they’ve turned their six-year-old startup into India’s biggest e-grocer and are taking ...

Bloomberg Large digital companies operating in the European Union, such as Alphabet Inc. and Twitter Inc., could face a 3 percent tax on their gross revenue based on users’ locations, according to a plan by the European Commission. The proposal by the EU’s executive arm outlines how a targeted levy on sales would increase the tax bill technology companies face, ...

Bloomberg Michelin’s planned acquisition of UK conveyor-belt maker Fenner Plc for about 1.2 billion pounds ($1.7 billion) is aimed at expanding the French tire manufacturer’s mining equipment business and moving into non-rubber materials. Under a deal unveiled, Fenner shareholders will receive 610 pence a share, which represents a 24 percent premium over the East Yorkshire, UK-based company’s price before the ...

Bloomberg After getting kicked out of the chief executive officer job at Uber Technologies Inc. in June, Travis Kalanick is getting back in the saddle. Kalanick said he’s buying a controlling stake in a distressed real estate company called City Storage Systems for $150 million and installing himself as CEO. The investment represents roughly 10 percent of his liquid wealth. ...

Bloomberg The UK’s transitional agreement to smooth its departure from the European Union is too late to stop some of Brexit’s fallout. Nearly one in seven EU companies with UK suppliers have moved some of their business out of Britain, according to the Chartered Institute of Procurement & Supply. Almost a third of UK businesses with suppliers from the bloc ...

Bloomberg BMW AG became the latest in a list of carmakers under investigation over suspected illegal devices to influence emissions setups in its diesel vehicles—even as the German carmaker said it simply made a mistake. Munich prosecutors led searches involving 100 officials, a day before the carmaker’s annual earnings press conference, visiting BMW’s headquarter in the Bavarian capital as well ...

Bloomberg Deere & Co., the world’s largest maker of agricultural equipment, is concerned that rising trade tensions between the US and other countries could affect sales of its signature green-and-yellow tractors and combines. While US tariffs on imports of steel and aluminum will have a financial impact on the company, Deere is “much more worried” about possible trade retaliation targeting ...