International News

Bloomberg The US National Highway Traffic Safety Administration is investigating faulty air bags in certain Hyundai and Kia vehicles that have caused four deaths and six injuries. The air bags have failed to deploy in frontal collisions, according to an investigation report posted on the administration’s website. The problems may affect 425,000 automobiles made by the South Korean manufacturers, and ...

Bloomberg The seven-month slide in India’s sovereign bonds has convinced the state-owned banks, the biggest holders of debt, to remain on the sidelines. ICICI Prudential Life Insurance Co., one of the country’s largest private insurers, sees things very differently. With yields recently nearing 8 percent, Manish Kumar, chief investment officer at the firm, says it’s time to go long. “A ...

Bloomberg The opening of Nirav Modi’s jewellery store on Madison Avenue in the fall of 2015 attracted A-listers from actress Naomi Watts to Donald Trump Jr. It also celebrated the expansion of an Indian business that is now near ruin amid an investigation for an alleged $2 billion fraud. As investigators probe Modi’s alleged use of fake guarantees from the ...

Bloomberg The US economy is beginning the year with a downshift in growth despite $1.5 trillion in tax cuts signed by President Donald Trump in December. Unexpectedly weak February retail sales pushed down forecasts for the annualised pace of expansion in the first quarter, with the Federal Reserve Bank of Atlanta’s GDPNow tracking estimate at 1.8 percent on March 16, ...

Bloomberg Facebook Inc. suspended Cambridge Analytica, a data company that helped President Donald Trump win the 2016 presidential election and which may have collected data from 50 million Facebook profiles without their owners’ permission. The social-networking company said in a blog post that Cambridge Analytica received some user data through an app developer on its social network, violating its policies. ...

Bloomberg It’s little surprise that the best-paid MBA graduates are from American universities. What is unexpected is just how much US schools dominate the rankings. A new survey of the 20 best-paid graduate business schools found that the top 11 are all in the US. The Sloan School of Management at the Massachusetts Institute of Technology came out on top, ...

Bloomberg President Donald Trump’s administration outlined rules for how automakers, pipeline operators and other companies can seek exemptions from new steel and aluminum tariffs that could be worth billions of dollars. The Commerce Department opened the door for those requests with an interim final rule that invites applications from companies or individuals supplying steel to US entities that use the ...

Bloomberg Luxembourg could soon be a home for bankers escaping Brexit. As the Grand Duchy prepares to welcome financiers relocating from the UK, a lack of housing has pushed the price of relatively modest family homes beyond the 1 million-euro mark ($1.2 million). That’s led to edgier areas being developed to keep up with demand, according to real estate brokers ...

Bloomberg Walmart Inc. is in discussions to spend about $7 billion to become the largest investor in India’s leading e-commerce company, according to people familiar with the matter, a move that would put the US retailer in competition with Amazon.com Inc. in one of the most promising online retail markets. The Bentonville, Arkansas-based retail giant plans to buy about a ...

Bloomberg UK Trade Secretary Liam Fox said he urged US officials to reconsider imposing steel and aluminum tariffs on the European Union this week, suggesting the move has upset America’s allies more than the main culprit for overcapacity, China. The EU and other foreign trading partners are seeking exemptions to the 25 percent tariffs on imported steel and 10 percent ...