International News

Bloomberg China is making another attempt at keeping Shanghai at the cutting edge of economic reforms after its latest try in 2013 floundered. The State Council, the nation’s cabinet, will soon unveil plans for a “free-trade port” in the world’s biggest shipping hub, according to Chen Bo, an adviser on the proposal who researches free trade zones at the Huazhong ...

Bloomberg Masami Takahashi, president of Uber Technologies Inc. in Japan, is leaving the ride-hailing company to join WeWork Cos. in the country, people with knowledge of the matter said. Takahashi will join the co-working space provider as it prepares to start operations in Japan, the people said, asking to not be identified because the details are private. SoftBank Group Corp. ...

Bloomberg India tightened rules to prevent errant founders from misusing an 11-month-old bankruptcy law to regain control of delinquent companies that are being sold. Founders of companies whose borrowings have been classified as non-performing for a year or more and that are unable to pay overdue amounts, including interest and charges, are barred from repurchasing their assets, the corporate affairs ...

Bloomberg China’s new plan to slash import taxes on a wide range of consumer goods promises to boost the prospects of multinationals in the Chinese market, with everything from the likes of Procter & Gamble Co.’s diapers to other items becoming more affordable to local consumers. Tariffs for 187 product categories will drop from an average 17.3 percent to 7.7 ...

Bloomberg Uber Technologies Inc. asked the UK Supreme Court to rule on its appeal over whether it has to pay drivers for overtime and during vacations. Lawyers for the company filed a permission to appeal application that would see the issues skip the Court of Appeal entirely, an Uber spokesman said. Uber has lost at two separate courts in the ...

Bloomberg A high-stakes legal clash is unfolding over President Trump’s temporary pick to run Elizabeth Warren’s favourite bank regulator, and the White House is holding its ground. Trump said he’s naming White House budget director Mick Mulvaney to be the temporary head of the Consumer Financial Protection Bureau (CFPB). The announcement came hours after outgoing CFPB Director Richard Cordray said ...

Bloomberg Elon Musk knows how to make promises. Even by his own standards, the promises made while introducing two new Tesla vehicles—the heavy-duty Semi Truck and the speedy Roadster—are monuments of envelope pushing. To deliver, according to close observers of battery technology, Tesla would have to far exceed what is currently thought possible. Take the Tesla Semi: Musk vowed it ...

Bloomberg South Korean conglomerate Lotte Group and French carmaker PSA Group have separately discussed proposals to invest as much as $6 billion combined in India, a move that would boost Prime Minister Narendra Modi’s attempts to attract foreign capital in Asia’s third-largest economy, a person with direct knowledge of the matter said. Lotte may invest between $3 billion and $5 ...

Bloomberg The Indian government is working on a new policy to encourage capital spending and restore the financial health of mobile-phone operators battered by a bruising tariff war, telecom secretary Aruna Sundararajan said. Public consultation will begin by year-end and cabinet approval is expected by March, she said in an interview in New Delhi, declining to share details. Voicing a ...

Bloomberg LexinFintech Holdings Ltd., owner of Chinese online lending platform Fenqile, plans to meet advisers to discuss the fate of its proposed US initial public offering, people with knowledge of the matter said. The company aims to decide whether to imminently start its IPO roadshow or wait for a later date when market sentiment may be better, according to the ...