International News

Bloomberg Apple Inc.’s latest smartphones, the iPhone 8 and iPhone 8 Plus, have more expensive parts, but the company will still make significant profits because it raised prices for the devices, according to research firm IHS Markit. A base model iPhone 8 with a 4.7-inch screen and 64 gigabytes of storage includes material costs of $247.51, up from $237.94 for ...

Bloomberg A week after London moved to revoke Uber Technologies Inc.’s operating license, the company and its electronic ride-hailing competitors are feeling the heat in New York as city officials consider moves to regulate and control the industry. The City Council was considering a six-month study of Uber’s impact on the traditional yellow cab business, where the value of medallions—licenses ...

Bloomberg President Donald Trump said Puerto Rico is in “deep trouble” as devastation brought by Hurricane Maria adds to the crippling debts that have already pushed the US territory into a record-setting bankruptcy. The storm, the worst to batter the island in nearly a century, caused widespread flooding, washed away roads and knocked out power to its 3.4 million residents ...

Bloomberg Hurricanes sometimes don’t need to make landfall to cause problems for US refineries. At least two East Coast refineries are making less gasoline and diesel as rough Atlantic seas hamper the transfer of crude oil from ships to barges for delivery to the facilities, people familiar with operations say. Philadelphia Energy Solutions Inc., which operates the largest oil-refining complex ...

Bloomberg Unilever agreed to buy a South Korean cosmetics maker for $2.7 billion to gain a stronger foothold in the world’s fourth-largest skincare market, betting that the pop-culture-fuelled appeal of the country’s beauty products will outweigh concerns over tensions. Unilever will buy Carver Korea, maker of AHC skincare products, from shareholders including Goldman Sachs Group Inc. and Bain Capital Private ...

Bloomberg Tata Motors Ltd., the owner of luxury car brands Jaguar Land Rover, is building a war chest that will allow it to expand its business and acquire rivals. Cash and equivalents at the Indian maker of the Tiago and Hexa cars surged 87 percent to 397.6 billion rupees ($6.2 billion) as of June 30 from a year earlier, according ...

Bloomberg After decades of relentless gains, China’s share of global exports is now edging down. Whether that continues hinges a lot on how fast it can shift into higher-technology shipments. China’s portion of the global export pie has shrunk from a high of almost 17 percent reached in December 2015, International Monetary Fund data show. The pullback is driven mainly ...

Bloomberg Apple Inc.’s latest products are getting a thumbs down, at least by investors in the company’s Asian suppliers. Hon Hai Precision Industry Co., which assembles the iPhone and other Apple devices, has fallen 10 percent in Taipei since Apple unveiled its collection of new gadgets for the holidays this month. Other suppliers across the region, including Taiwan’s Pegatron Corp. ...

­­­­­­­­­­­Bloomberg Swiss engineering company ABB Ltd. agreed to buy General Electric Co.’s industrial solutions business for $2.6 billion to strengthen its foothold in the US, the world’s biggest market for electrification products like circuit breakers and switchgears. ABB will incur costs of $400 million over five years to integrate GE’s industrial solutions unit, Chief Executive Officer Ulrich Spiesshofer told journalists ...

Bloomberg Silicon Valley spent more than a decade finding ways to give company founders more control. When Facebook Inc. tried to follow suit, shareholders pushed back. Google started it with a 2004 initial public offering that gave co-founders Larry Page and Sergey Brin voting rights well beyond their economic stakes in the search giant. Groupon Inc., Zynga Inc. and Facebook ...