News

Bloomberg The Indian government’s decision to launch a $1.4 billion fund to salvage stalled residential projects is unlikely to revive a sector that’s been the worst hit by the growth slowdown in Asia’s third-largest economy. As part of a broader plan to kick-start the economy, Finance Minister Nirmala Sitharaman announced the setting up of a 100 billion rupee fund to ...

Bloomberg The US National Highway Traffic Safety Administration (NHTSA) is investigating Nissan Motor Co’s top-selling model after hundreds of drivers complained a safety system is prone to suddenly triggering the brakes for no apparent reason. More than 840 Nissan Rogue drivers have complained to NHTSA and the company that the vehicle’s automatic emergency braking system activates when there’s no obstruction ...

Bloomberg South Korea will probably announce its decision to officially exclude Japan from its “whitelist” of trusted export destinations as early as this week, Yonhap reported. Should the measures be implemented, Japan will be removed from the group of 29 member states of the export control regime that also includes the US and will be subject to stricter export conditions, ...

Bloomberg China’s Uber-for-trucks startup Full Truck Alliance said it’s weighing an initial public offering after breaking even from May, defying a sector-wide downturn. The company, which is backed by SoftBank Group Corp and Tencent Holdings Ltd, said its improved financial performance dovetailed with its decision not to follow through on a plan to raise as much as $1 billion in ...

Bloomberg Philippines Finance Secretary Carlos Dominguez wants the main tax agency to shut down and file cases against online gaming operators that haven’t paid their dues. Dominguez issued the order after finding out that the Bureau of Internal Revenue hasn’t substantially collected the 21.6 billion pesos ($420 million) in income taxes that should have been withheld by online gaming operators, ...

Bloomberg The United Auto Workers (UAW) let its contract with General Motors Co expire after unsuccessful talks over an extension, setting the stage for a strike by the union’s 46,000 US workers. The UAW said it will work without a contract while it decides on a course of action. It had been bargaining with the largest US automaker before a ...

Bloomberg WeWork is pressing ahead with plans for a public listing, announcing a series of governance changes aimed at shoring up a sagging valuation and assuaging critics who say it gave too much power to a polarising co-founder. The company will trim the voting advantage that gives chief executive officer Adam Neumann sway over the board, and no member of ...

Bloomberg Policies being hammered out in Germany to slash carbon emissions may cost 40 billion euros ($44 billion) over the next four years, underscoring the wide scope of Chancellor Angela Merkel’s plans to boost climate protection. Meeting in Berlin, party leaders from Merkel’s alliance progressed in agreeing steps to ensure that Germany meets a 2030 emissions target, according to a ...

Bloomberg California Governor Gavin Newsom plans to veto a bill approved by the Democrat-controlled legislature that sought to preserve federal environmental and worker safety standards in the face of any Trump administration rollbacks. Under SB 1, if federal officials weaken certain regulations in effect the day before Donald Trump took office, the state’s agencies would have to maintain the protections ...

Bloomberg California’s biggest wildfire of the year has already burned more than 50,000 acres of timber and grass as NASA scientists say climate change is making such blazes more likely and harder to stop. It’s a sobering scenario for the US state with the highest wildfire risk, where land damaged or destroyed by fire has expanded fivefold over the last ...