International News

Bloomberg Apple Inc. is making it harder for touts to profit from buying iPhones in Hong Kong only to sell them on the black market in China. From mid-August, all products bought online from Apple in Hong Kong will be ineligible for return or exchange unless they are defective, the company said on its website. Apple’s previous policy allowed 14 ...

Bloomberg India has banned the export of gold products with purity above 22 carats with immediate effect, a move that the industry sees as a way of curbing irregularities in the trade. The Directorate General of Foreign Trade issued a notice limiting shipments of jewelry, coins and medallions to 22 carats or below, without giving a reason. “The move may ...

Bloomberg The UK government said it wants to maintain tariff-free, bureaucracy-light trade with the European Union for a period of up to two years after Brexit, a proposal cheered by British businesses but which is likely to raise eyebrows on the continent. Ahead of the publication Tuesday of the first of a series of new papers aimed at fleshing out ...

Bloomberg Canadian grocer Metro Inc. is bracing for as much as C$50 million ($39.2 million) in additional costs next year due to a minimum wage increase in Ontario. The Montreal-based company said it’s reviewing how to mitigate the impact of the measure on growth as it reported a decline in same-store sales and earnings that missed estimates. Profit for the ...

Bloomberg Amazon.com Inc. is turning to the debt markets to fund the $13.7 billion acquisition of Whole Foods Market Inc. and power Jeff Bezos’s planned conquest of the supermarket business. The world’s largest online retailer is selling $16 billion of unsecured bonds in as many as seven parts, according to a person with knowledge of the matter. In a sign ...

Bloomberg Hedge funds have adored the FAANGs for so long it’s no wonder that two of them—Apple Inc. and Facebook Inc.—are losing their appeal. Ken Griffin’s Citadel sold 3.4 million shares of Apple, the majority of its stake. And Viking Global Investors, led by Andreas Halvorsen, shed 9.6 million shares of Facebook, or most of its holding. These are just ...

Bloomberg Goldman Sachs Group Inc. is upping its game to lure top technology talent. The Wall Street firm recently boosted pay for programmers fresh from college to compete with the likes of Google and Facebook Inc. And it’s enlisting a Silicon Valley fixer, Andrew Trout from Square Inc., for a new post leading engineering recruitment. The moves are the work ...

Bloomberg The Philippines is considering potential ways to jointly develop oil and gas resources with China in a disputed part of the South China Sea, according to Foreign Affairs Secretary Alan Peter Cayetano. Any joint ventures would conform to Philippine law and wouldn’t lead to the loss of Philippine territory, Cayetano told a House of Representatives hearing on Tuesday in ...

Bloomberg The number of new taxpayers in India more than doubled in the past five months and about $47 billion came back to the banks after the government’s cash ban brought more people into the fold of the formal economy, PM Narendra Modi said. “Black money which was hidden was forced to come to the mainstream,” Modi said in his ...

Bloomberg China had unexpected buoyancy in its economy to thank for an easing off in corporate defaults in the first half. But as growth shows signs of pulling back, the question is: will it last? Despite alarm over the risks posed by China’s daunting debt pile ticking up in the first six months, the country actually saw a drop in ...