International News

Bloomberg Tesla Inc. has reached an agreement with the Shanghai government to set up its own manufacturing facility in the city, the Wall Street Journal reported Sunday, citing people briefed on the plan. The Palo Alto, California-based carmaker is working with the local government on the timing and details of an announcement, the people told the newspaper. The deal, which ...

Bloomberg Vivo, the fast-growing smartphone brand backed by reclusive Chinese billionaire Duan Yongping, will begin selling to Western markets for the first time as it accelerates a global expansion. Emboldened by its success against Apple Inc. and Samsung Electronics Co. at home, the company now intends to tackle developed markets with higher-end devices. In coming months, China’s third-largest smartphone brand ...

Bloomberg Prime Minister Malcolm Turnbull’s government will provide modeling to the states in a bid to get them to back its proposed “national energy guarantee” to bolster reliability of Australia’s faltering electricity grid. “It’s in the country’s interest and it’s in the states’ interests to get on board with this,” Energy Minister Josh Frydenberg said. Australia’s six states and two ...

Bloomberg General Electric Co.’s new boss promised “sweeping change” as he delivered a brutal assessment of the 125-year-old manufacturer. Results for the latest quarter are “completely unacceptable,” Chief Executive Officer John Flannery told investors as he slashed the profit forecast and pledged to unload $20 billion of GE businesses. “We need to make some major changes with urgency and a ...

Bloomberg Aegon NV, the Dutch insurer that generates most of its business from the US, is scouting for acquisitions and has looked at companies including smaller rival ASR Nederland NV amid consolidation in the domestic market, according to people familiar with the matter. As part of its search for potential targets, The Hague-based Aegon recently made an informal approach to ...

Bloomberg A Florida software engineer was sentenced to 16 months in prison for helping run an illegal Bitcoin exchange suspected of laundering money for a group of hackers who targeted financial and publishing firms including JPMorgan Chase & Co. and Dow Jones & Co. Yuri Lebedev, 39, helped operate Coin.mx, which tricked banks into processing bitcoin transactions by disguising them ...

Bloomberg A potentially explosive battle is brewing over a seldom-discussed aspect of the looming MiFID II laws, which will force traders of any European asset class to hand over personal identification such as passport numbers to every venue they trade on. The massive data-collection exercise will drag in tens of thousands of investors and traders, who some trading venues say ...

Bloomberg For UK Plc, the sting of Brexit comes with an unexpected bonus. With no effort on their part, the biggest British businesses may see pension deficits that have burdened them for years be practically wiped out if long-term bond yields rise 50 basis in the next year and they budget for slowing gains in life expectancy, according to estimates ...

Bloomberg Investors are getting plenty of chances this month to tap one of the best-performing segments of the year’s initial public offerings: Asia-based companies listing in the US. Fifteen Asian companies have raised $3.2 billion in US-listed IPOs and seen their shares climb 46 percent since their listings this year, according to weighted-average share price data compiled by Bloomberg. That ...

Bloomberg Typhoon Lan, which is forecast to strike near Tokyo, may cause an estimated $25 billion to $35 billion in damage, said Chuck Watson, a disaster modeler with Enki Research in Georgia. Lan is about 1,169 miles south of Tokyo with top winds of almost 150 miles per hour. That would make it the equivalent of a Category 4 hurricane ...