News

Bloomberg A group of Uber Technologies Inc. drivers lost a London lawsuit where they said a new fee to operate in the city centre amounts to race discrimination. The drivers said London Mayor Sadiq Khan’s demand that they pay a congestion charge was unfair because it didn’t apply to the capital’s traditional black cabs. Most cab drivers are white, while ...

Bloomberg Thyssenkrupp AG Chief Executive Officer Guido Kerkhoff is facing mounting internal pressure to whittle down and restructure the company’s sprawling business portfolio as the supervisory board grows impatient at the slow pace of change at the crisis-hit conglomerate. Supervisory board members of the Essen, Germany-based engineering company are increasingly frustrated at the pace and depth of restructuring efforts for ...

Bloomberg Peugeot maker PSA Group’s profit margin widened to a record in the first half of the year as the French carmaker cut costs and used the sale of more expensive models as antidotes to the deepening slump in the global auto industry. The company that also makes Citroen cars reported a first-half recurring operating margin of 8.7 percent at ...

Bloomberg Amazon.com, landlords who charge sky-high rents, brands that fail to adapt. The carnage in the retail industry has been blamed on all of them. Now Wall Street is being blamed too. Over the past decade, 597,000 US employees working for retailers owned by private equity (PE) firms and hedge funds have lost their jobs, while the sector as a ...

Bloomberg Alibaba Group Holding Ltd is opening its oldest online platform to US merchants, promising to help American businesses at a time US-Chinese tensions are darkening the outlook for global trade. The Chinese e-commerce giant opened up Alibaba.com to US sellers for the first time, allowing them to peddle to buyers around the world who seek merchandise to stock shelves ...

Bloomberg Hong Kong’s railway operator said trains had resumed normal service after a small group of anti-government protesters disrupted the city’s notoriously busy morning rush, stranding crowds of commuters on platforms at a main station. Trains on the Island Line, which cuts through the the city’s financial center, had returned to their regular schedule, the MTR Corp, Hong Kong’s urban ...

Bloomberg Japan’s Tepco said its board will decide to permanently shut a nuclear power plant near its wrecked Fukushima Dai-Ichi station amid regional opposition to its use following the 2011 disaster. The utility, officially known as Tokyo Electric Power Co, told Fukushima Governor Masao Uchibori that it will decommission the four reactors at the Fukushima Dai-Ni facility, which survived damage ...

Bloomberg India, which is home to more young people than any other country, is running out of time to harness the potential of its youth to drive economic growth. The nation’s population in the under-19 age group has already peaked, government data show. That means the labour force will grow more slowly from here on out. In just over 20 ...

Bloomberg China has long been a key market for global automotive manufacturers. Now the country is asserting its role as an investor in the industry, stepping up the pace of purchases in the car and heavy-truck sector. The latest foray: state-backed Beijing Automotive Group Co is buying a 5 percent stake in Daimler AG, the maker of Mercedes-Benz. The announcement ...

Bloomberg Nissan Motor Co confirmed reports of a 90 percent drop in quarterly operating profit and a broader restructuring a day before posting results, underscoring the Japanese automaker’s struggle to get back on stable footing. Operating profit for the fiscal first quarter will be several billion yen, the Nikkei newspaper reported earlier on Wednesday, indicating a result well below analysts’ ...