International News

Bloomberg Puerto Rico faces a “dangerous financial dilemma” because of the US Treasury Department’s delay in providing billions of dollars of disaster relief needed to help it recover from the wreckage caused by Hurricane Maria, the island’s governor said in a letter to Senate and House leaders. Treasury’s “misguided delay and policy decisions contrary to Congressional intent” for the community ...

Bloomberg Comcast jumped into the fray for Sky Plc, challenging Rupert Murdoch’s 21 Century Fox Inc. and Walt Disney Co. with a cash offer valuing the business at 22.1 billion pounds ($31 billion) and opening the possibility of a bidding contest for the UK’s biggest pay-TV company. After months spent scoping out Sky’s technology platform and content proposition of sports ...

Bloomberg Norwegian sovereign wealth fund will continue to invest in the UK no matter what the outcome of Brexit talks. “We remain a long-term and committed investor in the UK in all asset classes,” Chief Executive Officer Yngve Slyngstad said in Oslo, where the Norwegian fund is based. “We have a substantial real estate portfolio in London and we have ...

Bloomberg Euro-area economic confidence slipped in February, the latest number to show momentum in the region is taking a breather after the best year in a decade. The European Commission’s index of sentiment fell to 114.1 from 114.9, broadly in line with expectations. That’s the second consecutive monthly decline after the index touched a 17-year high in December. The business ...

Bloomberg Aston Martin Holdings Ltd. is looking for a “big brother” partner in order to survive as a low-volume, luxury carmaker, even after it posted its first profit in eight years and prepares for a potential initial public offering. The manufacturer famous for making film spy James Bond’s favourite car could use a combination of capital raised from an IPO ...

Bloomberg Facebook Inc. failed again to get out of a lawsuit alleging its photo scanning technology flouts users’ privacy rights. A federal judge in San Francisco ruled that the world’s largest social network must face claims that it violated the privacy of millions of users by gathering and storing biometric data without their consent. Alphabet Inc.’s Google is fighting similar ...

Bloomberg Millionaires from Russia to Norway and the US are seeking to take advantage of Italy’s low tax rates for the super-rich. In an effort to attract capital, Italy unveiled a measure in 2017 allowing ultra-wealthy individuals taking up residency to pay a flat tax of 100,000 euros ($123,000) a year, regardless of their income. Around 150 people, including some ...

Bloomberg For the thousands of attendees it was meant to be a conference to showcase China’s flagship Belt and Road project in Pakistan—the port in southwestern Gwadar that gives Beijing access to the Arabian sea. In the evenings the almost 8,000 delegates were wowed with cultural shows and a firework display at the newly opened five-story Gwadar Exhibition Center which ...

Bloomberg A unit of HNA Group Co. will lead two funds that will invest 20 billion yuan ($3.2 billion) in China’s “One Belt, One Road” initiative as the conglomerate shows its support for the government campaign. HNA Capital Group Co., which owns aircraft leasing firm Bohai Capital Holding Co. and online financial platform Jubaohui, will back infrastructure and financial services ...

Bloomberg The venture capital community has been fretting about the impact SoftBank Group Corp.’s giant tech fund has on deal prices. The Japanese company says be grateful. “It’s good for investors if valuations go up as they can exit at those prices,” said Rajeev Misra, head of the Vision Fund, citing deals with Didi Chuxing, Uber Technologies Inc. and WeWork ...