News

Bloomberg Sony Corp said its operating profit will likely fall this year and pulled its financial forecasts for most divisions because of substantial uncertainty in their operations. Operating profit will be 810 billion yen ($7.3 billion) in the year ending in March 2020, down from last year’s 894 billion yen and below the 843 billion yen average of analyst estimates ...

Bloomberg Tata Steel Ltd said it has extinguished all fires at its plant in Port Talbot after reporting an incident at the mill in South Wales. The company said emergency services were assisting its workers and two employees were slightly injured when there was a spillage of liquid iron while it was travelling to the steel plant, according to posts ...

Bloomberg Thailand suffered a rare combined drop in tourist arrivals and spending in March, signalling a rocky first quarter for Southeast Asia’s second-largest economy. The number of visitors fell 0.7 percent from a year ago to 3.5 million, official figures and data compiled by Bloomberg show. Foreign tourism receipts slid 1.3 percent to $5.8 billion. Tourism is critical for Thailand ...

Bloomberg China Evergrande Group, a property developer that has ambitions to dominate the global electric-vehicle industry, has approached two Dutch truck-and-bus makers about possible acquisitions, according to people familiar with the matter. The group, headed by China’s third-richest man, has reached out to Paccar Inc’s DAF Trucks NV and closely held bus manufacturer V DL Groep BV, the people said, ...

Bloomberg Best World International Ltd plunged to its lowest in six months after activist short seller Bonitas Research published a report questioning the company’s accounting and sales. The Singapore-based firm has overstated sales and profit in China, Matthew Wiechert’s Bonitas said in the report, which was based on on-the-ground research on the Chinese mainland. Bonitas believes that Best World’s “Chinese ...

Bloomberg President Donald Trump’s re-election hopes have always hinged on supercharging the US economy, and data showing faster than expected growth provided him a boost just as he prepares to ramp up his campaign. Trump heralded the Commerce Department report that gross domestic product rose at a 3.2 percent annual rate in the first quarter of 2019 — describing it ...

Bloomberg PG&E Corp., the California utility giant that filed for bankruptcy in January, is falling behind on some deadlines for inspections, repairs and tree-clearing work designed to reduce wildfire risks in Northern California this year. The state’s largest utility said circumstances beyond its control, such as a rainy winter and permitting requirements, were making it difficult to inspect some of ...

Bloomberg Over the past decade, Uber Technologies Inc. proved itself to be one of the most prolific young fundraisers ever. It pulled together more than $20 billion from private investors. After burning through more than half that amount in just the last three years, Uber will soon see whether it can recreate that magic on the stock market. The ride-hailing ...

Bloomberg A regulatory fight over Elon Musk’s tweeting habit may be over — at least for now. Tesla Inc.’s chief executive officer and the US Securities and Exchange Commission said in a court filing that they are settling a legal dispute over how Musk posts news about his electric-car company, avoiding a decision by a federal judge in New York ...

Bloomberg German manufacturing remained in a slump at the start of the second quarter, casting a cloud over the euro-area economy as well as the European Central Bank’s hopes for a quick recovery. Factory output in Europe’s largest economy contracted for a fourth month running in April, according to a survey. Manufacturing in the euro area also shrank, while a ...