News

Bloomberg Australian Prime Minister Scott Morrison committed as much as $350 million to cut costs for first-home buyers, seeking to boost his chances of re-election with his government trailing in opinion polls before an election. The government would offer guarantees to cut the required deposit for first-home buyers to 5 percent of the purchase price, instead of 20 percent, Morrison ...

Bloomberg Carlos Ghosn’s arrest threw Nissan Motor Co into a corporate tailspin with allegations of self-dealing, profligate spending and filing false statements. Now the automaker’s profits are falling off a cliff, and successor Hiroto Saikawa may go down with them. Troubled by slumping US sales, aging models and a product cycle that’s out of sync, the Yokohama-based company is on ...

Bloomberg Thyssenkrupp AG announced a dramatic U-turn in corporate strategy, saying it will take its elevator business public and abandon a plan to split in two. The shares surged the most on record after Chief Executive Officer Guido Kerkhoff said that the new proposal could also lead to the elimination of as many as 6,000 jobs. Kerkhoff’s reversal comes just ...

Bloomberg Canada’s economy posted record job gains in April, along with a pick-up in wages, in the strongest sign yet the nation’s economy has emerged from a soft patch. Employment rose by 106,500 in April, Statistics Canada said in Ottawa, the biggest one-month increase in data going back to 1976. Economists had forecast employers would add about 12,000 positions. The ...

Bloomberg Deutsche Telekom AG posted higher operating profit in the first quarter, propelled by forecast-beating US growth that’s making up for slower momentum back home in Germany, where Europe’s biggest phone company faces emerging competitive threats. Adjusted earnings before interest, tax, depreciation and amortisation after leases grew 8.3% to 5.94 billion euros ($6.65 billion). The figure, which eliminates accounting changes ...

Bloomberg BT Group Plc’s new boss Philip Jansen kept the phone company’s dividend in the face of declining profits while committing to the turnaround begun by his predecessor. Jansen said earnings would fall this year and BT needed to be “more competitive” as he laid out plans to accelerate a fibre network rollout. The dividend pledge was a relief for ...

Bloomberg Traders who lived through the 1980s US farm crisis have a good reason to be skeptical of President Donald Trump’s new plan to help growers. That’s because they question whether the US would really be able to ship all of the $15 billion in potential federal farm-good purchases as humanitarian aid to poor countries. Instead, they suspect the government ...

Bloomberg A key measure of US consumer prices rose by less than expected in April on lower used-car and apparel costs, testing the Federal Reserve’s message that muted inflation will prove transitory while giving President Donald Trump more ammunition to argue for an interest-rate cut. The core consumer price index, which excludes food and energy, rose 0.1% from the prior ...

Bloomberg US President Donald Trump’s administration told China it has a month to seal a trade deal or face tariffs on all its exports to the US, even as both sides sought to avoid a public breakdown in negotiations despite a developing stalemate. The threat was made during talks in Washington, hours after Trump upped the ante by imposing a ...

Bloomberg Yemen’s Iran-backed Houthi rebels have started to withdraw from the Red Sea port city of Hodiedah, a key lifeline for food and supplies, months after the UN brokered a pact to spare it from a prolonged conflict. The rebels said they were also withdrawing from ports of Salif and Ras Eisa, in line with a UN announcement about their ...