International News

Bloomberg Chinese billionaire Li Shufu’s Geely Group structured the purchase of its 7.3 billion-euro ($9 billion) stake in Daimler AG through complex derivative transactions that allowed the buyer to build a large equity holding while limiting the risks, people with knowledge of the matter said. Geely entered into a so-called collar trade for the entire stake, making this the largest ...

Bloomberg Tencent Holdings Ltd. is pushing deeper into the Indian technology market, with a sizable investment in New Delhi-based music streaming service Gaana, a person familiar with the matter said. The investment in Gamma Gaana Ltd. totals $115 million, and Times Internet Ltd., the Indian media and technology company that started the business, will also participate, said the person, who ...

Bloomberg An investor group backed by Bain Capital is poised to win the bidding for India’s Binani Cement Ltd., which is being sold under the country’s insolvency process, people with knowledge of the matter said. The consortium led by Dalmia Bharat Ltd., which was competing with billionaire Kumar Mangalam Birla’s UltraTech Cement Ltd., made a bid of about 63.5 billion ...

Bloomberg Hong Kong just made buying an electric car cheaper, unveiling a tax benefit that’s set to boost demand for Teslas and other green vehicles from makers such as BMW. Electric-vehicle buyers who trade in an eligible gas-guzzler will get a waiver of as much as HK$250,000 ($32,000) on the first registration tax, the government said when delivering its annual ...

Bloomberg Yahoo! Japan Corp. shares fell by the most in 10 months after Altaba Inc., its second-largest shareholder, outlined plans to sell its stake in the country’s most popular web portal. The stock fell as much as 9.6 percent, the most since April 2017, after Altaba Chief Executive Officer Thomas McInerney said in a conference call that the company is ...

Bloomberg A US-based cancer detection startup backed by the world’s two richest men is planning an initial public offering in Hong Kong, people with knowledge of the matter said, bolstering the Asian financial centre’s push to start attracting biotech listings. Grail Inc. is working with advisers on the proposed share sale, the people said, The firm may seek to raise ...

Bloomberg Prime Minister Theresa May is preparing to reject the European Union’s draft Brexit deal when it’s published, a senior official said, as her government steps up its fight with the bloc over the terms of Britain’s departure. With just three weeks left to agree on the Brexit transition phase, the EU will unveil a legal text that’s likely to ...

Bloomberg Travel giant Booking Holdings Inc. jumped in after-market trading after beating analysts’ profit estimates and talking down the threat of new competition from Airbnb Inc. Booking, which changed its name from the Priceline Group, grew the total number of non-hotel accommodations on its websites to 1.2 million, a 53 percent jump from 2017. Airbnb has about 4.3 million. Asked ...

Bloomberg Accor SA plans to buy back as much as 1.35 billion euros ($1.65 billion) of shares over the next two years after the hotel operator agreed to sell a majority stake in its property business. Saudi Arabia’s Public Investment Fund, Singapore’s GIC Pte sovereign-wealth fund, Credit Agricole Assurances, Amundi SA, Colony NorthStar Inc. and other investors joined forces to ...

Bloomberg Sigfox’s co-founder is eyeing a listing in 2019 and pondering a pre-IPO round later this year, after reassuring investors about the future of the French startup. With money from backers including Salesforce.com Inc. and Samsung Electronics Co., Sigfox has expanded its network for connected objects, added sizable customers and is on track to become profitable in the fourth quarter, ...