News

Bloomberg Nissan Motor Co. took an $83 million charge related to the compensation of former Chairman Carlos Ghosn as the Japanese automaker reeling from the shock arrest of the iconic executive warned of its lowest profit in six years. Operating profit will be 450 billion yen ($4.1 billion) this fiscal year, Nissan said on Tuesday. That’s down from Nissan’s previous ...

Bloomberg Malaysia is taking steps to rid its new financial district of the 1MDB taint. The Exchange TRX precinct has brought in fresh funds of $527 million in what Finance Minister Lim Guan Eng said is a sign of faith in the country’s ability to put the past behind. Kuala Lumpur is also set to see its iconic Petronas Twin ...

Bloomberg Sony Corp. promoted a marketing executive to become the new chief of its PlayStation business, the second management shuffle in less than two years at one of the company’s most important divisions. Jim Ryan will take over as president of Sony Interactive Entertainment effective April 1 after previously leading the division’s sales and marketing teams, the Tokyo-based company said ...

Bloomberg Tea exports from India, the world’s second-biggest producer, may shrivel this year as a bumper crop in Kenya raises the risk of oversupply. Shipments could drop by 8 million to 10 million kilograms in the year through March from a record of 256.57 million in 2017-18 as Kenya’s output is likely to rise by as much as 60 million ...

Bloomberg Zilingo Pte, a Singapore-based online fashion marketplace, raised $226 million to fund an expansion into the Philippines, Indonesia and Australia. Investors in the series D financing included Sequoia Capital, Temasek Holdings Pte, Burda Principal Investments, Sofina and EDBI, the company said on Tuesday without disclosing a valuation. The startup is valued at $970 million, according to people familiar with ...

Bloomberg Indonesia’s chicken shortage could worsen this year, driving further gains in poultry stocks, according to CGS-CIMB Sekuritas. The nation’s poultry association projects that the supply of chicks will drop to 3 billion in 2019 from 3.2 billion last year, after the government banned the use of antibiotics in chicken feed, analyst Patricia Gabriela wrote in a report. A shortage ...

Bloomberg A mining company claiming interests in copper and gold reserves estimated at $58 billion on the Pacific island of Bougainville said its rights are under threat by efforts to revive the resource sector in the run up to a independence referendum. At the heart of the dispute is the Panguna mine, which was operated by Sydney-listed Bougainville Copper Ltd. ...

Bloomberg Forces loyal to Libya’s eastern leader Khalifa Haftar have taken control of the country’s biggest oil field and say the deposit is secure and ready to resume production. Haftar’s self-styled Libyan National Army fanned out in the southwestern Sharara field, people with knowledge of the matter confirmed. Armed protesters had closed down the 300,000 barrel-per-day deposit in December, demanding ...

Bloomberg T-Mobile US Inc. Chief Executive Officer John Legere heads to Capitol Hill this week to defend his proposed takeover of Sprint Corp., as doubts about the deal grow on Wall Street and opponents say it will raise monthly bills. Legere is set to appear Wednesday and Thursday before two House panels about the $26.5 billion tie-up, which would unite ...

Bloomberg The UK should tackle the power of Alphabet Inc.’s Google and Facebook Inc. over Britain’s news publishers and push the tech platforms to promote quality journalism, according to a report commissioned by the government to find remedies for the struggling local press. The Cairncross Review called for codes of conduct to govern commercial relationships between the Silicon Valley giants ...