International News

Bloomberg Kobe Steel Ltd. President Hiroya Kawasaki will resign after Japan’s third-biggest steelmaker said an independent investigation into its faked data scandal found further instances of misconduct. Kawasaki, 63, will step down on April 1 and his successor will be selected in coming days, the company said. Kobe’s executive vice president and chief of its aluminum and copper unit, Akira ...

Bloomberg Toyota Motor Corp. announced plans to drop diesel models from its European portfolio this year even as Volkswagen, which sparked the fury over the technology, predicts a rebound. The diverging views of the world’s two largest automakers reflects the uncertainty over the future of diesel, which has faced a steady drumbeat of bad news since Volkswagen’s cheating scandal erupted ...

Bloomberg The rise of the smartphone almost broke Tze-Mon Chuang’s company— Elon Musk provided its salvation. Singapore-based Memtech International Ltd. has more than doubled its market value in the past year thanks to tie-ups with the likes of Tesla Inc. The manufacturer is a key supplier to Musk’s pioneering auto company, making plastic components for its battery packs. It’s a ...

Bloomberg The European Union is preparing punitive tariffs on iconic US brands produced in key Republican constituencies, raising political pressure on President Donald Trump to ditch his plans for taxing steel and aluminum imports. Targeting 2.8 billion euros ($3.5 billion) of American goods, the EU aims to apply a 25 percent tit-for-tat levy on a range of consumer, agricultural and ...

Bloomberg The Chinese supplier of electric-vehicle batteries that’s planning a local factory with enough capacity to surpass the output of Tesla Inc. has set its sights further: Europe. Contemporary Amperex Technology Ltd. is close to picking one of three sites in the European Union for its first overseas plant, Chairman Zeng Yuqun said in an interview. The company is exploring ...

Bloomberg Brexit is beginning to weigh on London’s hotel market, according to Hilton Worldwide Holdings Inc., the second-biggest company in the global industry by rooms. “Now that negotiations are going on, and it’s becoming more real—at least in London—it does feel like there’s a little bit of trepidation,” Christopher Nassetta, chief executive officer of Hilton, said in an interview in ...

DUBAI / Emirates Business VisitBritain, the national tourism board for Britain, has partnered with Middle Eastern online travel platform tajawal on a joint marketing campaign targeting customers in the United Arab Emirates, Saudi Arabia and Kuwait market. The marketing campaign will feature a video series and is part of VisitBritain’s global campaign, “I Travel For…” which launched earlier this month, ...

Bloomberg Toyota Motor Corp. plans to spend $2.8 billion to make sure its system for writing the software for self-driving cars will be just as efficient as the factories that build them. The company needs faster and more reliable methods for writing software because self-driving cars require “millions and millions’’ of lines of computer code, according to James Kuffner, who’ll ...

Bloomberg China stepped up its push to curb financial risk, cutting its budget deficit target for the first time since 2012 and setting a growth goal of around 6.5 percent that omitted 2017’s aim for a faster pace if possible. The deficit target—released as Premier Li Keqiang delivered his annual report to the National People’s Congress in Beijing—was lowered to ...

Bloomberg PT Go-Jek Indonesia PT could become the country’s first-billion dollar startup to hold an initial public offering after the transport and technology company met with the nation’s equity market. Executives led by Go-Jek President Andre Soelistyo met with officials from the Indonesia Stock Exchange in Jakarta to discuss an IPO, Tito Sulistio, the bourse’s president, told reporters. While the ...