International News

Bloomberg HNA Group Co. has set a date for a long-awaited shareholder vote on its proposed $1 billion takeover of Singapore logistics operator (CWT) Ltd., people with knowledge of the matter said, in a sign that the beleaguered Chinese conglomerate is moving ahead with the deal. The Hong Kong-listed unit pursuing the purchase, HNA Holding Group Co., has scheduled an ...

Bloomberg Singapore’s reputation for slick infrastructure and efficient public transport received a knock morning as two of its five mass transit rail lines suffered signaling failures, leaving thousands of disgruntled passengers late for work and unleashing a tirade of criticism on the social media sites of the two rail operators. “Lovely….I’ll send ye the bill for the cab I’m having ...

Bloomberg Taiwan upgraded its economic growth forecast for this year, signaling confidence for 2018, as a strong exports outlook lifts momentum. The statistics bureau revised its estimate for 2017 gross domestic product to 2.11 percent, up from the previous projection of 2.05 percent in May and closer to the central bank forecast of 2.13 percent. The bureau also said it ...

­­­­­­­­­­­Bloomberg Ireland warned it won’t be used as a pawn in wider negotiations on the terms of the UK’s departure from the European Union, as it called Britain’s plans to avoid border checks after Brexit a “step forward.” Envoys need to show “flexibility and imagination” to devise post-Brexit arrangements on the island of Ireland that preserve free movement of people ...

Bloomberg AP Moller-Maersk A/S said a cyberattack that hit the owner of the world’s biggest container shipping company at the end of June will wipe as much as $300 million off profits in the third quarter. The announcement was made in connection with second-quarter earnings, which showed Maersk missed analyst estimates after taking a writedown at the tankers unit that’s ...

Bloomberg Software giant SAP SE raised its annual revenue outlook and said it would buy back up to a half billion dollars in stock after reporting a better-than-expected jump in sales, lifted by a revamped version of its flagship software. The German maker of applications that run businesses’ finances, manufacturing and personnel is projecting sales of 23.3 billion euros to ...

Bloomberg PricewaterhouseCoopers LLP was fined $6.6 million for misconduct over its audit of RSM Tenon Group Plc in the largest-ever sanction issued by the UK accounting regulator. The Financial Reporting Council announced the fine Wednesday, along with penalties against Nicholas Boden, a senior PwC audit partner. The misconduct related to an audit of RSM Tenon’s accounts for the year ended ...

Bloomberg Italy’s economic recovery extended for a tenth straight quarter, boosting optimism that growth can become sustainable this year amid a rise in industrial production. Gross domestic product expanded 0.4 percent in the three months through June, the same as in the first quarter, Rome-based statistics agency Istat said in a preliminary report on Wednesday. That matched the median of ...

Bloomberg Volvo AB’s second-quarter operating profit rise 39 percent, buoyed by resilient European demand for trucks and a production cut in the US to adjust for an expected slowdown, while construction-equipment earnings rebounded from a year-earlier provision. Earnings adjusted for one-time items rose to $1.03 billion from 6.13 billion kronor a year earlier, the Gothenburg-based manufacturer said on Wednesday in ...

Bloomberg Companies from Alibaba Group Holding Ltd. to China Life Insurance Co. will participate in a $11.7 billion share sale by China’s second-largest wireless carrier as part of a government push to draw private capital into its state-owned enterprises. According to the plan, investors including Tencent Holdings Ltd. and Baidu Inc. will purchase about 10.9 billion shares, or 35 percent, ...