International News

Bloomberg Wall Street doesn’t think corporate America will have a hard time coming up with those employee bonuses that were promised after taxes were slashed. The December passage of the tax overhaul package and West Texas Intermediate crude’s breach of $60 a barrel have propelled the S&P 500 three-month earnings estimate revision ratio to its highest level since 2011, according ...

Bloomberg The UK’s thrifty health authority has cleared its most expensive medicine ever—a $700,000 GlaxoSmithKline Plc treatment for an illness known as “bubble-boy disease.” But the overall cost to the country’s medical system won’t be as eye-popping as the price suggests. Glaxo, Britain’s biggest drugmaker, said it has treated four patients with Strimvelis since it was approved by the European ...

Dubai / Emirates Business Gulf Navigation Holding PJSC announced its intention to increase the company’s capital by AED 448,333,334 in order to make the issued and paid up share capital to be AED 1 billion, distributed over 1,000,000,000 shares at a par value of AED 1 per share without issuance premium, based on the company’s General Assembly resolution approved unanimously ...

Bloomberg Third time’s the charm, but not for Korea’s largest carmaking group. Hyundai Motor Co. and affiliate Kia Motors Corp. said they sold 7.25 million autos in 2017, a million short of the companies’ joint target and missing forecasts for the third consecutive year. Deliveries fell to the lowest level since 2012. The group is forecasting a 4.1 percent increase ...

Bloomberg China’s will end the production of 553 passenger-car models that don’t meet fuel-consumption limits amid efforts by the nation to curb pollution. The halt in production was expected to begin on January 1, the China Vehicle Technology Service Center said in a statement Thursday. Models include FAW VW’s Audi FV7145LCDBG sedan, Beijing Benz’s Benz BJ7302ETAL2 sedan and Shanghai GM’s ...

Bloomberg India is adding the least amount of coal-fired power in more than a decade as tepid demand from indebted state retailers fails to utilise the nation’s existing generation capacity. Coal-fired capacity, which accounts for more than three quarters of the nation’s electricity, rose by 809 megawatts during the April-November period, according to Bloomberg calculations based on the latest available ...

Bloomberg As automakers seal their first annual US sales decline since 2009, expectations for more interest-rate hikes are bolstering the nearly unanimous view that car demand will shrink again in 2018. Few analysts anticipate sales this year will reach 17 million vehicles, which was just achieved for a third-straight year and only the fifth time in history. The Federal Reserve ...

Bloomberg UK manufacturing growth slowed more than forecast in December, retreating from a four-year high. IHS Markit’s Purchasing Managers Index for the industry slid to 56.3, below the median estimate of economists for a reading of 57.9. Still, that pace of expansion left the quarterly average at the highest since 2014. “Expansion remained comfortably above long-term trend rates,” said Rob ...

Bloomberg Maserati North America Inc. is recalling more than 1,000 of its newest luxury cars to fix leaky fuel pipes that increase the potential for an engine fire. The 2018 Ghibli and Quattroporte sedans—with prices starting at $73,050 and $105,600, respectively—have a faulty fuel delivery pipe in the engine compartment that may leak gasoline, the company said. The cars haven’t ...

Bloomberg The UK will make new coins this year to celebrate the 200th anniversary of Mary Shelley’s “Frankenstein’’ as well as commemorate a century since women started gaining the right to vote. Designs on special two-pound coins will also honour the end of the First World War and the creation of the Royal Air Force in 1918, the UK’s Royal ...