International News

Bloomberg India is considering a plan to hand over control of iron ore and coking coal mining to the steel ministry to boost supplies of the key steelmaking materials as the country is poised to become the world’s second-biggest producer, according to a person with knowledge of the plan. The proposal to shift the regulatory authority from the current mines ...

Bloomberg A closely watched Apple Inc. analyst has whacked about 23 percent off his initial projections for iPhone X shipments, citing weak Chinese demand. Apple should move 62 million units of its most expensive smartphone over its lifetime, down from an earlier estimate of 80 million, Kuo Ming-chi of KGI Securities wrote in a note. Kuo’s was the latest in ...

Bloomberg Alphabet Inc.’s Google and Tencent Holdings Ltd. have agreed to share patents covering a range of products and technologies, an alliance between two of the world’s largest corporations. The cross-licensing deal comes with an understanding that the search giant and Tencent—the world’s second largest and fifth largest company, respectively—will team up on developing future technologies. The agreement may smooth ...

Bloomberg India’s $207 billion bad loan pile could get worse. Delinquencies are rising in the affordable housing sector, a pet project for Prime Minister Narendra Modi that’s touted as a main growth driver for Asia’s third-largest economy. Most of these were loans below 200,000 rupees ($3,100) made to some of the poorest Indians, whose incomes are now under threat as ...

Bloomberg Hong Kong, which has faced a slew of criticism on company financial reporting, is set to create a new framework to oversee auditors of listed entities in the city. Proposed legislation will boost the Financial Reporting Council by giving it the independence to investigate and discipline auditors, according to a statement. It will also empower the FRC to oversee ...

Bloomberg Cinedigm Corp., a digital distributor of movies and other programming, jumped the most in three months after striking a deal to release films online and in theatres in China. The agreement with Starrise Media Holdings Ltd., a former textile company that entered the media business two years ago, sent shares up as much as 14 percent. The agreement also ...

Bloomberg The UK should ensure it stays in a close and comprehensive customs agreement with the European Union, providing tariff-free trade in all goods after Brexit, according to the leader of a major business group. Remaining in a customs union with the EU will be far more valuable than striking trade deals elsewhere, Carolyn Fairbairn, director general of the Confederation ...

Bloomberg Uber Technologies Inc. completed its deal with SoftBank Group Corp., triggering a slate of governance reforms at the ride-hailing company. Uber shareholders sold about $8 billion at a discounted price to a group of investors led by SoftBank, making the Japanese conglomerate the largest shareholder. SoftBank also invested $1.25 billion directly into Uber at a valuation of about $70 ...

Bloomberg Facebook Inc. is intensifying scrutiny of its pages to root out bogus news reports and other attempts to interfere with Italy’s general election in March, according to people familiar with the matter. The US company will allocate more resources to ensure users comply with its guidelines during the election campaign, two people said, asking not to be named because ...

Bloomberg Donald Trump woke up on the anniversary of his inauguration with the federal government shuttered, a development that seemed almost predictable after a year of tumult in Washington. “This is the One Year Anniversary of my Presidency and the Democrats wanted to give me a nice present,” the president said on Twitter early on January 20. He said in ...