International News

Bloomberg YouTube plans to introduce a paid music service in March, according to people familiar with the matter, a third attempt by parent company Alphabet Inc. to catch up with rivals Spotify and Apple Inc. The new service could help appease record-industry executives who have pushed for more revenue from YouTube. Warner Music Group, one of the world’s three major ...

Bloomberg The 1.5 million Brits living in Europe face being “landlocked” after Brexit because Friday’s deal doesn’t clarify whether they can move freely between European Union countries after the UK’s departure from the bloc. The UK and the EU struck a deal to unlock divorce negotiations overnight after months of stalemate. The agreements include a 45 billion-euro ($53 billion) divorce ...

Bloomberg Uber Technologies Inc. has had its operating license suspended in Sheffield, the fourth-largest city in England. The local council said the suspension followed a failure by the ride-hailing company to respond to requests about the firm’s management, and that it can’t provide services in the city after December 18. “If it chooses to appeal this suspension it can continue ...

Bloomberg Over two months after Hurricane Maria devastated Puerto Rico, the island’s government still hasn’t received any of the $4.9 billion of short-term loans promised in the storm aid package Congress passed at the end of October. Christian Sobrino, the governor’s representative on the island’s federal oversight board, confirmed that no Puerto Rican entity has received any portion of the ...

Bloomberg Ford Motor Co. is changing gears again in Mexico, shifting planned production of a small electric-powered sport utility vehicle to a plant south of the border instead of a Michigan factory. Sending the electric vehicle to Mexico, where labour costs are lower, will help the business case for the costly model. It also risks raising the ire of President ...

Bloomberg Alibaba Group Holding Ltd., China’s e-commerce giant, plans to invest about $200 million in India’s largest online supermarket, Bigbasket, leading a $280 million funding round in the startup, according to people familiar with the negotiations. Alibaba is taking a stake of about 25 percent in Bigbasket after months of negotiations, said the people, asking not to be identified because ...

Bloomberg Bain Capital LP said it is prepared to spend about $900 million or more to acquire digital advertising companies in Asia as it revamps Japan’s No. 3 agency to better compete with rivals like Dentsu Inc. The Boston-based private equity firm acquired 87 percent of shares in Asatsu-DK Inc., in a tender offer, the companies said in statements. Bain ...

Bloomberg Facebook Inc. co-founder Eduardo Saverin is participating in a $40 million investment in Mswipe Technologies, his first foray into the India startup market. Saverin’s B Capital Group and DSG Consumer Partners are leading the funding round, which also includes Ratan Tata’s UC-RNT Fund, Matrix Partners India and Falcon Edge Capital. Saverin will join the company’s board and work with ...

Bloomberg Vijay Mallya is becoming something of a fixture in London courts. As the tycoon fights his extradition back to India on fraud charges, another set of lawyers is trying to overturn a $1.5 billion worldwide freezing order against him across town. In the meantime, Mallya has to get by on 5,000 pounds a week, according to court documents. A ...

Bloomberg A seven-year-old US startup is set to become the biggest private tenant in London just as the UK’s economic outlook worsens. Three years after entering the British capital, WeWork Cos. has signed leases that will make it the city’s No 1 private-sector user of office space, according to data compiled by CoStar Group Inc. for Bloomberg. The rapid growth ...