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Bloomberg Samsung Electronics Co. Vice Chairman Jay Y. Lee said the company will pursue investment in future businesses including sixth-generation mobile networks and system semiconductors as the South Korean tech giant faces a rapidly changing global business environment that has already put pressure on profit. Lee, the company’s de facto leader, last week held discussions with Samsung executives on potential ...

Bloomberg Japan’s Inpex Corp. agreed on a framework with Indonesia for the $20 billion Abadi liquefied natural gas (LNG) project, a key step towards reaching final investment for one of the world’s biggest export ventures. The heads of agreement includes an extension of the company’s contract to operate the Masela field by 27 years until 2055, Inpex President Takayuki Ueda ...

Bloomberg Indian drug maker Lupin Ltd. is recalling more than 18,000 bottles of an antibiotic drug used to treat bacterial infections from the US market. Lupin Pharmaceuticals Inc, the US unit of the Indian company, is recalling the drug due to a “complaint received of metal piece identified in the product bottle prior to the reconstitution,” according to information on ...

Bloomberg India’s trade deficit widened for a third straight month as exports remained sluggish amid a slowing global economy and escalating US-China trade war. The gap between exports and imports was $15.36 billion in May, slightly higher than $15.33 billion in April, according to data from the Commerce Ministry. That compares with the $15.74 billion median estimate in a Bloomberg ...

Bloomberg India has imposed higher customs duties on a raft of US goods on Sunday in response to similar measures taken by Washington, according to a government notice. The increased charges have been imposed on 28 products including chickpeas, phosphoric acid, apples, almonds and walnuts, according to the notice released late on Saturday. The country would get about $217 million ...

Bloomberg Activist investor Dan Loeb disclosed a $1.5 billion stake in Sony Corp. and pushed the company to make dramatic changes, including spinning off its semiconductor business and listing it in Japan. Sony’s shares rose 3.1% in Tokyo after Loeb’s Third Point published a letter and 102-page presentation pushing for changes at the Japanese media and electronics giant, including sales ...

Bloomberg Volkswagen AG valued its heavy-trucks business at as much as $18.6 billion in a planned initial public offering that will test Chief Executive Officer Herbert Diess’s ambition of overhauling the carmaking behemoth. The manufacturer intends to offer stock in Traton SE, which sells MAN and Scania AB vehicles, for between 27 euros to 33 euros per share, it said ...

Bloomberg Netflix Inc. is unveiling new video games based on its shows, stepping up efforts to turn its streaming platform into a multimedia empire. Netflix is just starting to explore the possibility of turning its movies and TV shows into other products. The show is one of the service’s most popular, especially in the US and among younger viewers. The ...

Bloomberg A Canadian program designed to speed up the hiring of foreign talent is attracting thousands of tech workers and other skilled employees, many of whom are unhappy with restrictive US immigration policies. The Global Skills Strategy, which came into effect two years ago, has attracted about 24,000 people over the past two years, according to government figures. The program ...

Bloomberg New entrants to the London ride-hailing market could potentially pose a risk to one of Uber Technologies Inc.’s most profitable markets, according to analysts at Morgan Stanley. Every 400 basis point change in UK rideshare adjusted net revenue would result in a $100 million hit to Uber’s 2020 profit, analysts led by Brian Nowak wrote in a note. The ...