News

Bloomberg Royole Corp., a maker of flexible displays, is seeking about $1 billion in a funding round ahead of an initial public offering, people familiar with the matter said. The Shenzhen, China-based company is seeking a valuation of at least $8 billion in the round as it seeks to expand its sales and marketing and research facilities, the people said, ...

Bloomberg India’s trade deficit narrowed more than estimated in February from a month ago, as imports fell owing to a sharp drop in oil purchase cost. The gap between exports and imports was $9.6 billion last month, compared with $14.7 billion in January, data released by the commerce ministry showed. The deficit is narrower than the $13.7 billion median estimate ...

Bloomberg Executives from Nissan Motor Co. and Mitsubishi Motors Corp. are exiting as part of a wider shuffle among the top ranks of the Japanese automakers’ alliance with Renault SA following the arrest of Carlos Ghosn in November. Arun Bajaj, the alliance’s senior vice president for human resources, exited Nissan as of March 11 after a leave of absence, the ...

Bloomberg Philippine tycoon Enrique Razon is pushing to build a new dam east of the capital to prevent another water shortage hitting thousands of people in Metro Manila as the dry season begins. Wawa Dam in Rizal province can be the nearest major source of bulk water and provide 80 million liters per day by 2021 and 540 million liters ...

Bloomberg This round of currency intervention in Hong Kong is far from over. That’s according to analysts, who’re watching the interplay between the amount of money in the city’s financial system and local borrowing costs. Shorting the Hong Kong dollar will remain profitable until the latter starts to go up sharply, and the monetary authority will spend at least another ...

Bloomberg Qualcomm Inc. won the first US jury trial in its global dispute with Apple Inc. over how much the iPhone maker should pay for using the chipmaker’s patented technology. A federal jury in San Diego awarded Qualcomm about $31.6 million in damages on its patent infringement claims. Qualcomm jumped as much as 3.5 percent before finishing up 2.2 percent ...

Bloomberg Volkswagen AG was sued by the US Securities and Exchange Commission over claims it failed to disclose to investors that its diesel vehicles violated emission standards, the latest twist in a software cheating scandal that has already cost the company more than $30 billion. The German automaker sold billions of dollars of corporate bonds and asset-backed securities in the ...

Bloomberg Uber Technologies Inc. is in advanced discussions to sell a $1 billion stake in its costly self-driving car unit to a consortium of investors led by SoftBank Group Corp., people familiar with the plans said. The deal would value the autonomous-vehicle business at $5 billion to $10 billion, and Uber would retain a majority stake, said the people, who ...

Bloomberg With or without Brexit, Britain is surely the toughest market for European utilities to make money in right now. After years and years of surging bills, disgruntled homeowners are abandoning the nation’s biggest energy suppliers at an alarming rate. In strikingly somber tones, utilities from Innogy SE to Centrica Plc have dished out bearish outlooks detailing their woes in ...

Bloomberg The Boeing Co. 737 Max crash in Ethiopia looks increasingly likely to hit the planemaker’s order book as mounting safety concerns prompt airlines to reconsider purchases worth about $57 billion. VietJet Aviation JSC, which doubled its order to 200 of the aircraft priced at about $25 billion only last month, said it will decide on its future plans once ...