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Bloomberg British businesses are taking Boris Johnson’s election pitch to ‘Get Brexit Done’ with a pinch of salt: they know that confusion over the UK’s exit from the European Union is set to carry on through 2020, or longer. Even if the prime minister wins a parliamentary majority in December and passes his Brexit withdrawal agreement, UK Plc would face ...

Bloomberg AstraZeneca Plc is teaming up with one of China’s largest investment banks on a $1 billion biotechnology venture capital fund as the UK drugmaker builds presence in the fast-growing market. AstraZeneca will work with China International Capital Corp to target support for drug and diagnostics developers along with other startups using artificial intelligence and digital technologies to improve health ...

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 ...