News

Bloomberg China’s Tesla Inc fans expecting to get the new, locally built Model 3s on the cheap were just dealt a surprise. Tesla said its China-made vehicles will start at $50,000 in the country, only about 3% less than what the most basic imported models have been going for, after the US company decided to include the Autopilot driver-assistance software ...

Bloomberg The global economic conjuncture is creating an unfavorable environment for investments and international trade, but nobody is expecting an economic crisis in the short term, Spanish Economy Minister Nadia Calvino said. “I just came back from IMF, World Bank and G20 meetings. There is concern for the global slowdown, but no one sees a crisis in the short term, ...

Bloomberg A group of prominent economists from the US and China called for the world’s two largest economies to abandon their trade war and agree to a new path forward that would give both countries more latitude to both pursue their own domestic economic policies and hit back at those that hurt them. In a joint statement issued in China, ...

Bloomberg LVMH, the French owner of Louis Vuitton, is exploring a takeover of Tiffany & Co to expand in the US jewelry market, according to people familiar with the matter. The luxury group is holding talks with Tiffany, though there’s no guarantee an agreement will be reached, said the people, who asked not to be identified because discussions are private. ...

Bloomberg Space Exploration Technologies Corp’s second-highest ranking executive said the rocket maker has big advantages over other companies racing to build constellations of internet-providing satellites, including Jeff Bezos’s Amazon.com Inc. SpaceX will in the coming weeks launch its next batch of 60 satellites for its Starlink broadband service, Gwynne Shotwell, the closely held company’s president and chief operating officer said. ...

Bloomberg China failed to reach an agreement with other countries on furthering the work of a three-year-old forum designed to resolve the global steel industry’s overcapacity. While a majority of members wanted to extend the forum beyond next month, China said that the organization has achieved its goal and should expire, Japan’s Industry Minister Hiroshi Kajiyama, who chairs the meeting ...

Bloomberg India’s sputtering economy is turning the energy-hungry nation into an unlikely source of diesel exports. The industrial fuel is the lifeblood of Indian manufacturing, transport and agriculture, making it the country’s most-consumed petroleum product. But five straight quarters of slowing growth is taking an increasing toll on demand, resulting in diesel consumption slumping to the lowest since the start ...

Bloomberg Jaguar Land Rover’s Indian owner reported a narrower loss than expected in the second quarter after the British luxury unit turned profitable working through a cost cutting program. Tata Motors Ltd lost 2.17 billion rupees ($31 million) in the three months ended September 30, compared with a loss of 10.5 billion rupees a year earlier, the company said. Analysts ...

Bloomberg Hong Kong may report negative growth this year as the economy reels from more than four months of social unrest, Financial Secretary Paul Chan wrote in a blog post. It is “impossible to rule out the possibility” that full-year gross domestic product will decline, Chan wrote in the post. “It seems that it is extremely difficult to achieve the ...

Bloomberg Uber Technologies Inc Chief Executive Officer Dara Khosrowshahi vowed to get his company to profitability while pursuing growth from emergent arenas such as India, addressing investors’ concerns about the ride-sharing company’s mounting losses and global regulatory challenges. Uber, which lost about $5.2 billion in the second quarter alone, is having a tough time convincing the market of its growth ...