International News

Bloomberg Hydro One Ltd. fell the most in eight months after agreeing to buy US power supplier Avista Corp. in a $3.4 billion deal that analysts said is too costly and exposes the Canadian energy company to regulatory hassles. The merger will add Avista’s energy production and distribution operations in Washington, Idaho, Oregon and Alaska to Hydro One’s transmission network ...

Bloomberg On the edge of one of India’s biggest slums, Alauddin Ansari opens a paper ledger of daily sales at his small leather shop and points to a blank page. That’s the tally for today. Nothing. Before Prime Minister Narendra Modi introduced the country’s new goods and services tax on July 1, Ansari said he was earning 6,000 rupees ($93) ...

Bloomberg Overseas insurers including Prudential Plc are pursuing plans to sell stakes in their Malaysian units, in deals that could raise at least a combined $2 billion and help them comply with foreign ownership limits, people with knowledge of the matter said. Prudential has asked banks to pitch for a role advising on a domestic initial public offering of its ...

Bloomberg Tata Group, the Indian conglomerate that manages more than 100 operating companies, is weighing a plan to streamline its technology and infrastructure businesses, people with knowledge of the matter said. The conglomerate is considering a restructuring that would see several of its technology businesses moved under publicly traded Tata Consultancy Services Ltd., according to the people. TCS, Asia’s largest ...

Bloomberg India wanted to cap toxic emissions from power plants by December. It’s now discovering that target is at least 6 years from its reach. The nation’s power industry regulator says a countrywide roll out of equipment to lower sulfur dioxide emissions won’t be completed until 2023. And that’s only one of the the four types of pollutants plants must ...

Bloomberg The rally in zinc prices has the potential to jump this year to levels not seen in a decade as demand continues to outstrip supply amid mine output disruptions, according to Hindustan Zinc Ltd., Asia’s biggest producer by market value. Prices on the London Metal Exchange may rise to about $3,000 a metric ton in the next couple of ...

Bloomberg Blackstone Group LP rode a widespread market advance in the second quarter, earning 36 percent more than a year earlier. The results fell short of analysts’ estimates as a downturn in energy prices hit private equity holdings. While the asset manager’s public holdings — shares of companies it’s taken public — tracked positively, private investments were “pressured by the ...

Bloomberg Ride-hailing provider Lyft Inc., emboldened by public stumbles by larger rival Uber Technologies Inc., is taking the leap into developing its own fully autonomous vehicles. Lyft is opening a self- driving vehicle development facility in Palo Alto, California, called “Level 5,” a nod to the designation of fully autonomous vehicles that don’t require human supervision. Several hundred employees will ...

Bloomberg Another week, another scare from the German car industry. What began with Daimler AG’s massive recall of more than 3 million diesel cars to lower their emissions, ended with Audi also embarking on a voluntary recall of 850,000 vehicles. Adding to the spate of bad news was a report in Der Spiegel magazine that the biggest car manufacturers — ...

Bloomberg Mangrove Capital Partners, the Luxembourg-based venture capital firm, has raised a $170 million fund to invest in European startups. But its outspoken founder has no interest in startups looking for a quick buck. The fund, which is Mangrove’s fifth since its founding 17 years ago, will invest in early stage companies, said co-founder and Chief Executive Officer Mark Tluszcz ...