International News

Bloomberg Grab, Southeast Asia’s biggest ride-hailing app, plans to invest $100 million in Myanmar as it extends its battle with Uber Technologies Inc. to capture exploding use of smartphones. Grab will invest the money over the next three years and work with local governments to expand ride-hailing to more cities and roll out services such as its in-app digital payment ...

Bloomberg Singapore’s electronics output surged almost 50 percent in July from a year earlier, underpinning overall manufacturing in the city state and signaling a global trade recovery is holding up. Industrial production rose 21 percent, the fastest pace in seven months, beating all 17 forecasts in a Bloomberg survey of economists. The electronics cluster, which includes products such as semiconductors, ...

Bloomberg Infosys Ltd. Chairman Nandan Nilekani moved to reassure investors and employees after a dramatic coup by the firm’s founders this week in which they ousted four directors and took back control of the troubled Indian IT company. “I want to put this company on the right stable path,” Nilekani, 62, said. “I plan to be here as long as ...

Bloomberg Speculators thinking Lee Jae-yong’s sister, Lee Boo-jin, could take the family mantle, are making a bet Samsung will stray from the tradition of male-dominated succession at the country’s chaebol. But Samsung has broken away from tradition to better the business before and Boo-jin already advises and owns 5.5 percent of holding company Samsung C&T Corp. She’s also proven her ...

Bloomberg UK companies are getting more worried about the economy and feeling less confident in spending money on hiring or investing, according to a new report. The Recruitment and Employment Confederation said an index of economic conditions has fallen to the lowest this year, with a greater proportion of respondents to its survey saying things are getting worse. Employers are ...

Bloomberg Vanguard Group and T. Rowe Price Group Inc. marked down the value of their shares of Uber Technologies Inc. by as much as 15 percent following a drumbeat of bad news, lawsuits and boardroom battles at the ride-hailing company. Vanguard cut the worth of the shares by 15 percent to $41.46 as of June 30 from the prior quarter, ...

Bloomberg WPP Plc shares had their biggest drop in 17 years after the world’s largest advertising company cut its full-year revenue forecast amid lower spending by customers, in particular consumer-goods manufacturers. The stock fell as much as 13 percent after WPP said like-for-like revenue growth is expected to be between zero and 1 percent in 2017. That’s down from an ...

Bloomberg Surging demand for ‘Made in the Euro Area’ goods is feeding an economy that is creating jobs and finally also seeing price growth accelerate. A Purchasing Managers’ Index for manufacturing rose to 57.4 in August from 56.6 in July, according to IHS Markit. That’s the highest reading in two months and compares with a median estimate for a slowdown ...

Bloomberg Overseas fund managers and companies are tracking India’s efforts to force its biggest defaulters into insolvency proceedings as interest in buying distressed assets grows, according to investment bank Moelis & Co. A dozen companies in sectors including steel, power and construction may become buyout targets after the Reserve Bank of India ordered lenders to take them to insolvency court ...

Bloomberg China Unicom (Hong Kong) Ltd. will raise as much as HK$88.1 billion ($11.3 billion) by selling new shares to its parent as part of a government-led ownership overhaul of the nation’s second-largest wireless carrier. Unicom plans to sell as many as 6.65 billion new shares to unlisted China Unicom (BVI) Ltd. at HK$13.24 apiece, or 10 percent higher than ...