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Bloomberg Germany is walking a tight line as an industrial recession threatens to drag down the broader economy, one of the leading economic experts advising Chancellor Angela Merkel‘s government warned. “Manufacturing has been hit hard by the decline in world trade — industry is in recession,” said Volker Wieland, a member of the council of economic advisers, which lowered its ...

Bloomberg The collapse of star investor Neil Woodford’s business empire reverberated beyond his own stockholdings, dealing a blow to the fundraising environment for early-stage British biotechnology that’s just starting to heal. Budding biotech companies, which counted Woodford as a champion, saw money from global investors drop after the mogul froze withdrawals in his flagship fund in June. Five months later, ...

Bloomberg BMW AG is showing signs of recovery under its new chief executive officer, with aggressive cost-cutting and demand for upscale models like the big X7 SUV helping to bolster third quarter earnings. After stumbling in recent quarters with low profitability and a series of operational and regulatory issues, CEO Oliver Zipse’s first results report after taking charge showed a ...

Bloomberg Infosys Ltd, the Indian software maker that’s battling whistle-blower allegations about its finances, sought to assure investors that the accusations have had little impact on the company’s ability to win contracts. Anonymous whistle-blowers last month alleged that Chief Executive Officer Salil Parekh used “unethical practices” to boost revenue and profit in recent quarters. The whistle-blowers also said recent big ...

Bloomberg China Feihe Ltd, a baby formula producer, raised HK$6.7 billion ($856 million) after pricing its Hong Kong initial public offering at the bottom of its marketed range, people familiar with the matter said. The Beijing-based company sold 893.3 million shares at HK$7.50 each, the people said, asking not to be identified as the information is private. Shares had been ...

Bloomberg Mitsubishi Motors Corp slashed its annual profit and sales outlook, becoming the latest Japanese automaker hit by sputtering global demand and a stronger yen. Operating profit for the fiscal year through March 2020 will be 30 billion yen ($275 million) instead of 90 billion yen, the company said in a statement, citing decreases in wholesale volumes and the impact ...

Bloomberg Masayoshi Son struck a defiant tone after his SoftBank Group Corp reported an enormous loss from investments in money-losing startups WeWork and Uber Technologies Inc. The Japanese billionaire paced a stage in Tokyo showing off dozens of slides that he argued demonstrate the promise of his deal-making. He began by flashing a slide of newspaper headlines and mocking reports ...

Bloomberg China and France vowed to uphold multilateralism and free trade and build an open global economy, as President Xi Jinping nears a phase one trade deal with the US. Xi’s comments came during a three-day visit to China by President Emmanuel Macron. “Together, we sent a strong signal to the world to firmly uphold multilateralism and free trade and ...

Bloomberg India is examining the feasibility of setting up a regulatory authority to settle disputes related to e-commerce, a top government official said, amid a raging battle between big online retailers and mom-and-pop stores. The proposal being considered comes after small traders approached the government with allegations of predatory pricing and deep discounting by Amazon.com Inc and Walmart Inc. They ...

DUBAI / WAM Dubai FDI, the investment development agency of Dubai Economy, has announced the signing of a Memorandum of Understanding with Standard Chartered Bank, to facilitate consultation, cooperation and exchange of information in areas of mutual interest and objectives. In line with Dubai FDI’s efforts to consolidate the emirate’s position as a preferred global Foreign Direct Investment (FDI), destination, this ...