News

Bloomberg Wanda Sports Group Co fell 36 percent in its trading debut after its US initial public offering raised only $190 million, less than half its earlier goal for the listing. The American depositary shares priced in the IPO at $8 and then opened at $6. The shares ended the day worth only $5.16 a share, valuing the Beijing-based company ...

Bloomberg Reliance Jio Infocomm Ltd won more subscribers to become India’s biggest telecom operator, as companies prepare for the planned rollout of a 5G network next year. Reliance Jio’s subscriber base grew to 331.3 million in the quarter ended in June, the company reported. That’s higher than nearest rival Vodafone Idea Ltd, which said its users fell to 320 million ...

Bloomberg Askul Corp plans to exercise its right to demand Yahoo Japan sell its 45 percent stake, escalating a public dispute between two major Japanese internet companies. CEO Shoichiro Iwata said he intends to propose the move at a board meeting scheduled for August 1. Whether the online retailer can force a sale hinges on the interpretation of an agreement ...

Bloomberg Profits at China’s industrial companies decreased, highlighting the headwinds faced by the world’s second-largest economy. Industrial firms’ profits fell 3.1 percent in June from a year earlier, the National Bureau of Statistics said. Changes to how the data has been collected have made economists question the accuracy of the release. China’s economic growth slowed to its weakest pace since ...

Bloomberg India deployed airforce helicopters and teams from its navy to rescue passengers stranded aboard a train stalled by heavy rainfall and floods about 60 kilometers east of Mumbai. The Mumbai-Kolhapur Mahalaxmi Express was held up since 3 a.m. local time with 700 passengers on board, India Today reported. “Following the incessant rains over the last 24 hours in Mumbai ...

Bloomberg States that sued to block T-Mobile US Inc’s acquisition of Sprint Corp signalled they aren’t giving up, even after the US antitrust regulator blessed the $26.5 billion deal. New York Attorney General Letitia James, who’s co-leading the lawsuit filed in June, cast doubt on the centerpiece of the companies’ settlement with the government: the sale of assets to Dish ...

Bloomberg Uber Technologies Inc said it’s in discussions with European supermarkets to roll out a grocery delivery service as rivals Deliveroo and Just Eat Plc move to compete with the likes of Amazon.com Inc in the field. The ride-hailing company has spoken with the UK’s second-biggest grocer, J Sainsbury Plc, according to people familiar with the situation. The supermarket operator ...

Bloomberg Vodafone Group Plc shares gained the most in more than a decade on the phone carrier’s plan to carve out its towers business and consider an initial public offering or minority stake sale of the new unit. The stock rose as much as 10.4 percent, the biggest intraday jump since November 2008, after the carrier announced plans to separate ...

Bloomberg British households received a $497 boost in the last financial year as a booming labour market lifted real incomes to a record high. The median income after inflation rose by 1.4 percent in the year through March to 29,400 pounds, the Office for National Statistics said. It followed a year in which living standards failed to grow for the ...

Bloomberg The trade war between the US and China that’s clouded the global growth outlook will have a lasting negative effect on aluminum demand, Norsk Hydro ASA Chief Executive Officer Hilde Merete Aasheim said. The Oslo-based company pared its demand growth forecast for a second time this year, echoing the dimming outlook painted by top US producer Alcoa Corp. Russian ...