International News

Bloomberg Best Buy Co. said it stopped some sales of Apple Inc.’s iPhone X and iPhone 8 after consumers complained about the retailer charging a $100 premium on the already expensive smartphones. The company, one of Apple’s key retail partners, still sells all iPhone models via carrier installment plans that let customers pay for the devices over several months. The ...

Bloomberg A weaker dollar is helping two US food giants break out of a prolonged sales slump. Kellogg Co. and Mondelez International Inc. both rallied after posting their first revenue growth in years, helped by currency tailwinds. The news signals that US food producers are finally getting some relief overseas, where the strong dollar—along with shaky local economies—had battered results. ...

Bloomberg The US Virgin Islands expects to receive $800 million in emergency loans from the $36.5 billion storm aid bill approved by Congress earlier this month, Governor Kenneth Mapp said. The first draw down will occur over the next 10 to 15 days and will go towards rebuilding essential infrastructure such as hospitals and its water and power systems. The ...

Bloomberg Facebook Inc., Google and Twitter Inc.— technology powerhouses actively cultivating their influence in Washington—received an unaccustomed grilling and even ridicule in their first appearance before Congress over Russian meddling in last year’s presidential campaign. Two hearings on Wednesday might bring more of the same for top attorneys from the companies, who were forced to acknowledge to a Senate Judiciary ...

Bloomberg Samsung Electronics Co. has cleaned out its most senior executives just hours after posting record profit and doubling investor payouts. Lee Sang-hoon has been nominated as the next board chairman while all three co-chief executive officers were replaced in a massive shakeup of the top ranks. The announcement came after Samsung topped profit estimates and said it would boost ...

Bloomberg Megvii Inc., a Chinese developer of facial-recognition technology, has raised about $460 million from investors including billionaire Jack Ma’s Ant Financial and one of China’s largest state-backed venture funds, according to a person familiar with the matter. The Beijing-based company, also known as Face++, has attracted several other investors including the Russia-China Investment Fund, a venture backed by sovereign ...

Bloomberg Tata Steel Ltd.’s India head TV Narendran has been appointed global chief executive officer and managing director as the steelmaker returns to profitability, and sets about implementing an agreement with Thyssenkrupp AG to combine European steel businesses. Narendran has helmed the Indian and South East Asian operations since November 2013, the company said in a filing. It also reappointed ...

­­­­­­­­­­­Bloomberg SoftBank Group Corp.’s talks to merge US unit Sprint Corp. with T-Mobile US Inc. have hit a serious snag, according to people familiar with the matter, throwing the deal into jeopardy after months of talks. In the past three days, the companies have been unable to get past differences over valuation, according to a person close to T-Mobile parent ...

Bloomberg Apple Inc. is designing iPhones and iPads for 2018 that don’t use components from Qualcomm Inc. amid an escalating dispute between the companies, according to a person familiar with the matter. The product plans are in the early stages and may still change, said the person, who asked not to be identified because the matter is private. Apple may ...

Bloomberg Look out, Detroit: Toyota Motor Corp. is on a roll in the US. Toyota took 15 percent market share last quarter for the first time since 2009. Its RAV4 car-based sport utility vehicle is the industry’s most popular vehicle this year aside from the top pickups, outselling even its own Camry midsize sedan. It beat Ford Motor Co. each ...