International News

Bloomberg Chengdu, the capital of southwest China’s Sichuan province, reclaimed the top spot in a Milken Institute ranking of the country’s best-performing big cities. Nearby Chongqing climbed to second place, while Guiyang, the capital of China’s poor-but-fast- growing Guizhou province, fell to third from first, according to a report released on Monday by the Santa Monica, California-based think tank founded ...

Bloomberg Hong Kong billionaire Li Ka-shing agreed to buy an indirect stake in a Japanese maker of electric cars, expanding his investments in an area that’s set to benefit from China’s push to phase out gasoline and diesel vehicles. Li and two other investors are buying a stake in O Luxe Holdings Ltd., according to two company filings made in ...

Bloomberg The price of one of the most critical materials for the Western world’s economy and defenses is spiking faster than any major commodity. Tungsten, used to harden steel in ballistic missiles and in drill bits, has surged more than 50 percent in the last two months amid growing concern about supply cutbacks in China, where about 80 percent of ...

Bloomberg What a difference a year makes for the European Union. Jean-Claude Juncker, president of the European Commission, will deliver the annual State of the Union speech this week in a more upbeat mood than a year ago, when the 28-nation bloc was buffeted by the UK’s decision to leave and anti-EU parties appeared to be on the march. In ...

Bloomberg The White House said President Donald Trump cut a short-term debt ceiling and government spending deal with Democrats to clear the deck for a major tax bill. But the agreement could be complicating tax efforts by eroding trust within his own party. Not only has the deal sowed doubt among the GOP about its unpredictable president, but it’s also ...

Bloomberg Hurricane Irma weakened as it moved past Tampa, leaving in its wake at least 4.7 million without power and millions temporarily displaced. The center of the system was expected to weaken to a tropical storm this morning and a tropical depression by Tuesday afternoon, the National Hurricane center said in an advisory. A storm surge warning was discontinued for ...

Bloomberg London retained its crown as the world’s top financial center in a ranking that surveys industry professionals, extending its lead over New York and Hong Kong despite ongoing uncertainty about the implications of Brexit. The UK capital fell only two points in the latest Global Financial Centres Index published by Z/Yen and the China Development Institute, the smallest decline ...

Bloomberg Startups hoping to sell health tracking devices and software to corporate customers are worried European regulators will torpedo their business model. Employers should be banned from issuing workers with wearable fitness monitors, such as Fitbit, or other health tracking devices, even with the employees’ permission, a European Union advisory panel said in June. Employers should also be barred from ...

Bloomberg Terry Gou, the billionaire behind Apple Inc.’s iPhone factories, is pressing his case to acquire Toshiba Corp.’s memory chips business for $19.5 billion in a last-ditch effort to beat out two American buyout firms in the tumultuous auction. Gou’s Foxconn Technology Group has broad support for its offer from Apple, SoftBank Group Corp. and Sharp Corp. and is ready ...

Bloomberg China’s bond market may be the world’s third largest, but when it comes to luring foreign investors, Beijing has a long road ahead. Norges Bank Investment Management, steward of the world’s largest sovereign wealth fund, proposed last week to limit its benchmark index for bond holdings to just three currencies — dollar, euro and sterling. The role of its ...