International News

Bloomberg Uber Technologies Inc.’s new chief executive officer likely comes with a price tag in the neighborhood of $200 million. Dara Khosrowshahi, who spent 12 years at the helm of Expedia Inc., held unvested stock options in that company worth $184.4 million, according to data compiled by Bloomberg. Companies typically grant replacement awards to executives who must forfeit unvested equity ...

Bloomberg New York boosted the minimum price of a pack of cigarettes by 24 percent to $13 and placed a cap on the number of tobacco sellers, part of the city’s biggest crackdown on smoking in more than a decade. The anti-tobacco moves came in the form of a seven-point package of laws that Mayor Bill de Blasio signed. The ...

Bloomberg The Renault-Nissan alliance is expanding its push into China, teaming up with Dongfeng Motor Group Co. on its first locally designed electric vehicle as emissions rules tighten in the world’s largest car market. Renault SA, Nissan Motor Co. and Dongfeng established a joint venture to develop a battery-powered model based on a small sport utility vehicle platform developed by ...

Bloomberg A unit of billionaire Li Ka-shing’s CK Hutchison Holdings Ltd. received a formal 79 billion rupee ($1.2 billion) tax bill from India over the company’s sale of its mobile-phone business in the country to a Vodafone Group Plc unit a decade ago. CK’s Hutchison Telecommunications International Ltd. received the penalty order from the Indian Tax Authorities on August 9, ...

Bloomberg Uber Technologies Inc. rolled out a free insurance programme for more than 450,000 drivers registered on its ride-hailing app in India to attract more drivers. The San Francisco-based company, which this week chose a new chief executive officer, said that it’s teaming up with ICICI Lombard General Insurance Co., the South Asian country’s largest private non-life insurer, to cover ...

Bloomberg Greenland Holdings Corp., China’s fourth-biggest developer by property sales, said it had overdue loans of $69.2 million in some units in the northeast province of Liaoning at the end of June, underscoring concerns about the company’s debt problems. Companies under Greenland’s unit in Liaoning had overdue short-term debt of 247.5 million yuan, as well as 210 million yuan in ...

Bloomberg Uber Technologies Inc. will appoint Expedia Inc.’s Dara Khosrowshahi to run the global ride-hailing leviathan, two people familiar with the matter said. He’ll succeed co-founder Travis Kalanick, who led the firm to $20 billion in annual bookings before scandals forced him out. In hiring Expedia’s chief executive officer, Uber will land a seasoned deal-maker and an outspoken critic of ...

Bloomberg Brexit talks resume on Monday with Prime Minister Theresa May under pressure on two fronts: European negotiators are pushing her to reveal her hand, while the opposition Labour Party has made a bid to lure May’s critics to their side. Labour’s announcement that it wants Britain to stay in the European Union’s single market and customs union for up ...

Bloomberg President Vladimir Putin’s ban on European Union cheese imports has driven up milk prices in Russia by so much that French yogurt maker Danone is transporting almost 5,000 cows to a farm in Siberia to ensure it has an affordable supply. The Holstein cows are traveling as many as 4,500 kilometres in trucks from the Netherlands and Germany, boosting ...

Bloomberg Oracle Corp. is hiring another 5,000 employees for its cloud software business as it fights Salesforce.com Inc. for market share in the fast-growing industry. The hiring surge aims to beef up what’s already Oracle’s fastest-growing business, increasing revenue by 58 percent in the quarter it reported June 21 compared with a year earlier. The move is the latest in ...