News

Bloomberg Chinese electric-car sales fell for a second straight month after the government scaled back subsidies, the latest sign that one of the final pillars of strength in the world’s largest automobile market is crumbling. Sales of new energy vehicles — all-electric, fuel-celled autos and plugin hybrids — declined 16 percent from a year earlier to 85,000 units in August, ...

Bloomberg US companies on the front line of the trade war are increasingly pessimistic about President Donald Trump’s strategy to boost their sales in the Chinese market, according to a new survey by a leading business organisation. Of the 333 members taking part in an annual survey by the American Chamber of Commerce in Shanghai, 75 percent said they opposed ...

Bloomberg The protests in Hong Kong, now in their 15th week, continue to impact the city’s tourism industry and in particular visitors from mainland China, who are usually its biggest group of tourists. The number of Chinese group tours to the city fell 90 percent compared to a year ago in the first ten days of September, according to data ...

Bloomberg As Southeast Asian nations woo companies moving away from China amid the trade war, the Philippines risks turning away investment by trimming tax incentives, a key government investment promoter said. “Instead of enhancing our incentives to take advantage of opportunities, we are making things complicated,” Philippine Economic Zone Authority Director General Charito Plaza said at a briefing in Manila ...

Bloomberg Apple Inc is jumping into India’s crowded film and TV streaming market with services that could undercut premium global brands like Netflix Inc and Amazon.com Inc that are also betting on growth in the country. The technology giant’s Apple TV+ includes original content from filmmakers including M Night Shymalan and will be available from November 1 via the Apple ...

Bloomberg Apple Inc’s decision to skip support for the latest wireless standard on its new iPhones may cost the company a chance at capturing China’s biggest smartphone replacement wave in years. The iPhone maker, which is the only foreign brand to hold a top-five position in China, is struggling to fight off local competitors Huawei Technologies Co, Oppo and Xiaomi, ...

Bloomberg The UK is launching a 200 million-pound ($247 million) DNA database to boost the prevention and treatment of life-threatening diseases from cancer to Alzheimer’s. Backed by 100 million pounds from pharma giants GlaxoSmithKline Plc, Johnson & Johnson, AstraZeneca Plc and Amgen Inc, the initiative will analyse and sequence the genetic codes of 500,000 volunteers at the UK Biobank. “This ...

Bloomberg Charles Schwab Corp said it is cutting 600 jobs, or about 3 percent of the workforce, as the San Francisco-based broker-dealer and wealth-advisory firm faces “an increasingly challenging economic environment.” “These actions are a prudent step to ensure we manage our expense growth while continuing to invest in initiatives that allow us to achieve greater scale and efficiency,” the ...

Bloomberg A measure of underlying US producer prices that excludes food and fuel picked up in August after posting its smallest gain in two years, indicating inflation may be starting to stabilise. So-called core producer prices increased 2.3 percent in August from a year earlier, topping the Bloomberg survey median forecast, following a 2.1 percent gain, a Labor Department report ...

Bloomberg State attorneys general investigating Google are ordering it to turn over a wide range of information about its advertising business, according to an investigative demand that takes direct aim at the biggest source of the company’s revenue. Texas Attorney General Ken Paxton’s office, which is leading the nationwide probe, issued a 29-page civil investigative demand obtained by Bloomberg. In ...