News

Bloomberg Chinese consumers are buying more bananas from abroad than ever before as an increasingly health consciousness middle class helps propel the fruit’s popularity. Imports of bananas surged to a record 227,199 tons in May, according to China’s general administration of customs. That helped lift total shipments of fruits and nuts to 720,000 tons, an almost 8-fold increase from the ...

Bloomberg Indian banker Rana Kapoor’s family is planning to sell a stake in their six-year-old mortgage finance company, people with knowledge of the matter said, as rising wariness in the credit market erodes growth prospects of shadow finance firms. The family office run by the three daughters of the Yes Bank Ltd co-founder is working with Nomura Holdings Inc on ...

Bloomberg For nearly a decade, Tata Group has been Inditex SA’s partner running Zara stores in India. Now, the country’s largest conglomerate is building its own apparel empire as trend-focussed as Zara — but at half the price. Its retail arm, Trent Ltd, has fine-tuned its local supply chain to deliver “extreme fast fashion” which can get runway styles to ...

Bloomberg A consortium led by Fosun International Ltd is in talks to acquire a majority stake in GV Gold PJSC, a Russian gold miner backed by BlackRock Inc, according to people familiar with the matter. Fosun is considering teaming up with partners including Zhaojin Mining Industry Co for a joint offer, the people said, asking not to be identified as ...

Bloomberg The UK will generate more energy from low-carbon sources than from fossil fuels this year for the first time since the Industrial Revolution. Wind, solar, hydro and nuclear plants provided 48 percent of the nation’s electricity in the first five months of 2019, according to the UK network operator National Grid Plc. Coal, which made up more than 30 ...

Bloomberg Daimler AG cut its profit forecast for the third time in a year, this time blaming the burden of handling longstanding proceedings around diesel emissions a month after a new guard took the helm at the world’s biggest luxury carmaker. The German manufacturer is facing investigations in Europe and the US over allegedly excessive pollution from its diesel vehicles. ...

Bloomberg Facebook Inc. failed to fend off a lawsuit over a data breach that affected nearly 30 million users, one of several privacy snafus that have put the company under siege. The company’s disclosure in September that hackers exploited several software bugs to obtain login access to accounts was tagged as Facebook’s worst security breach ever. An initial estimate that ...

Bloomberg London’s lawmakers aren’t against cars and vans driving through its most congested parts, as long as they turn electric soon. A suite of policies aimed at cleaning up London’s toxic air pollution isn’t there to penalise drivers but to improve public health, Shirley Rodrigues, London’s Deputy Mayor for environment and energy, said at the Bloomberg Sustainable Business Summit. “The ...

Bloomberg A slump in German business confidence deepened in June as trade tensions weighed on manufacturers. US-led protectionist thr-eats have clouded the growth outlook in Europe’s largest economy for mon-ths, contributing to a manufacturing slump and bo- osting fears that domestic demand will be undermined. European Central Bank President Mario Draghi last week said he’ll inject fresh monetary stimulus for ...

Bloomberg Iceland is preparing for a deeper recession this year amid dropping tourism arrivals and a disastrous fishing season, central bank Governor Mar Gudmundsson said. “We are prepared for the possibility of a deeper recession, and the numbers we are getting on tourist arrivals seem to indicate that that may happen,” Gudmundsson said in an interview on the sidelines of ...