News

Bloomberg Angola’s state-run oil and gas company is ramping up efforts to lure foreign investors and halt a decline in crude output. Once Africa’s biggest oil producer, output has tumbled in recent years due to under-investment in new projects and natural declines at aging fields. If it fails to halt this decline it will put severe strain on an economy ...

Bloomberg SoftBank Vision Fund and Alibaba Group Holding Ltd. led a $1.1 billion investment in PT Tokopedia, a financing round that will help Indonesia’s biggest online marketplace venture beyond e-commerce into new areas such as air tickets and insurance. The company was valued at more than $7 billion after the funding, according to people familiar with the matter, who asked ...

Bloomberg Growing security concerns surrounding Huawei Technologies Co. may help Samsung Electronics Co. challenge the Chinese behemoth in the market for fifth-generation wireless communications, an executive at the South Korean giant said. While Samsung remains the world’s biggest smartphone and semiconductor maker, Huawei dominates networking by a large margin. But its market position is under threat as one country after ...

Bloomberg Default risk for Chinese companies has climbed to the highest in 13 years as Beijing seeks to rein in its post-crisis construction boom, according to Moody’s Analytics. The research group’s measure of expected default frequency has risen above early-warning levels for about 25 percent of corporate borrowers. Moody’s Analytics, a separate entity from the ratings agency, uses the gauge ...

Bloomberg President Moon Jae-in’s income-led growth campaign will harm South Korea’s economy next year by weakening job creation, according to a majority of economists surveyed by Bloomberg. More than three-quarters of the 30 experts polled forecast employment growth will slow as the government pushes ahead with an 11 percent hike in the minimum wage, adding to the 16 percent increase ...

Bloomberg UK companies are fretting over the prospect of a no-deal departure from the European Union, with the government on the brink of collapse and Brexit negotiations likely delayed into the new year. Facing defeat on her Brexit accord, Prime Minister Theresa May this week postponed a vote on the plan. The delay in the Brexit vote means British businesses ...

Bloomberg Google Chief Executive Officer Sundar Pichai kicked off his first appearance before Congress refuting claims of bias, explaining the company’s privacy approach and stressing its American roots. As the hearing began, the heads of both political parties led with questions about Google’s data collection. Republican Bob Goodlatte asked how much personal information Google absorbs via its Android mobile software. ...

Bloomberg Cisco Systems Inc, the biggest maker of networking equipment, is in talks to purchase optical chip technology company Luxtera Inc, according to people familiar with the plans. A final price for the closely held company hasn’t been determined but a deal will likely value Luxtera in the hundreds of millions of dollars, said the people, who asked not to ...

Bloomberg Dell Technologies Inc won a shareholder vote to return to public markets, putting founder Michael Dell on the winning side of a transformative transaction that polarised investors for the second time in five years. Under terms of the deal, Dell will buy out shareholders of the stock that tracks Dell’s stake in software maker VMware Inc, known by its ...

Bloomberg Uber Technologies Inc has selected Morgan Stanley to lead its public offering next year, according to two people familiar with the matter, meaning the investment bank will reap a larger share of the fees associated with a listing valuing the company at as much as $120 billion. It’s another big win for Morgan Stanley banker Michael Grimes, who has ...