International News

Bloomberg The European Union may consider the UK Labour Party’s idea of the country remaining in a customs union after Brexit acceptable—but it would come with conditions attached. The opposition party’s plan, set out by leader Jeremy Corbyn in a speech on Monday, heaps pressure on Prime Minister Theresa May who has ruled out such a move and whose Brexit ...

Bloomberg Carillion Plc’s former finance director sold shares in the UK construction company worth about $1.1 million months before it imploded, according to parliamentary committees. Richard Adam cashed in shares for 534,000 pounds in March 2017, less than three months after he retired, and then sold long-term incentive awards in May 2017 on the day they vested for 242,000 pounds, ...

Bloomberg As WeWork Cos. has grown to 200 buildings across the globe, the company said its increased size is helping cut costs for everyday needs like glass, wood flooring, aluminum and light fixtures. Early signs of financial improvement are encouraging for a co-working business that critics say is overvalued and spends with abandon. The New York-based startup generated about $900 ...

Bloomberg China’s government seized temporary control of Anbang Insurance Group Co. and will prosecute founder Wu Xiaohui for alleged fraud, cementing the downfall of a politically connected dealmaker whose aggressive global expansion came to symbolise the financial overreach of China’s debt-laden conglomerates. The surprise move furthers President Xi Jinping’s anti-corruption and de-leveraging campaigns while providing a government backstop for the ...

Bloomberg Thailand’s planned 100 billion baht ($3.2 billion) infrastructure fund is embroiled in a court dispute over costs, threatening to further delay its listing. A labour union claims it would be cheaper to use borrowings by Expressway Authority of Thailand, a state entity, to pay for road projects due to be financed via the Future Fund, according to Ekniti Nitithanprapas, ...

Bloomberg Competitive gaming in Japan has found a champion: hedge fund boss Seth Fischer. The chief investment officer of Hong Kong-based Oasis Management Co., which owns more than $1 billion in Japanese securities, said esports is now among his top five investment themes for Japan. He has started buying stocks of game publishers like Capcom Co. and Square Enix Holdings ...

Bloomberg In the pantheon of luxury carmakers, Hyundai Motor Co. doesn’t usually come to mind. But the Korean company’s Genesis line beat out German rivals to be named 2018’s best car brand in the US by Consumer Reports. In its debut year, Hyundai’s luxury line bumped Volkswagen AG’s Audi from top billing to the No. 2 spot, with premium mainstays ...

Bloomberg It’s looking increasingly likely Nafta talks will extend beyond a March target, meaning negotiators will have to deal with the added political uncertainty of a Mexican election campaign. Thorny issues such as content rules for cars remain unsolved as negotiators met on Sunday through March 5 in Mexico City for the seventh round of talks. When negotiations began six ...

Bloomberg Volkswagen AG’s US unit agreed to settle a lawsuit over the company’s marketing of clean-emissions vehicles, resolving a fight over consumer fraud claims days before it was scheduled to go to trial. The suit was dismissed on February 23 by Fairfax County, Virginia, Circuit Court Chief Judge Bruce D. White on agreement of the parties, according to a copy ...

Bloomberg International Business Machines Corp. is moving towards settling non-competition claims against its former chief diversity officer and allowing her to take on a temporarily limited role at rival Microsoft Corp. Lawyers for the company and the former IBM executive, Lindsay-Rae McIntyre, met in a federal court in White Plains, New York, to hash out a possible deal through mediation ...