News

Bloomberg Libya’s top oil chief expects Opec and allied producers to exempt the strife-torn North African country from any future cuts in crude output. “The Opec community has understood the difficulties we face— Libya has withheld more than any other country from the global market,” National Oil Corp Chairman Mustafa Sanalla wrote in a phone message. “This should be factored ...

Bloomberg Tensions between Nissan Motor Co. and Renault SA over the future of their car-making partnership have exploded into the open as the downfall of Chairman Carlos Ghosn roils the automotive industry and his top lieutenant, Hiroto Saikawa, moves to consolidate power in his absence. The two companies, which are connected via a complex structure of cross-shareholdings and joint manufacturing, ...

Bloomberg PT Tokopedia, Indonesia’s largest online marketplace, is raising $1 billion from existing investors including SoftBank, people familiar with the matter said. The e-commerce operator is valued at about $7 billion after the round, the people said, asking not to be identified as the details are private. That would make it the most valuable startup in Indonesia, according to the ...

Bloomberg A drop in South Korean exports to China and another weak figure for semiconductor shipments add to concerns over the strength of global trade amid the economic conflict between Washington and Beijing. Preliminary trade data for the first 20 days of November showed a 4.3 percent slip in exports to China, the first fall outside holiday-affected months since late ...

Bloomberg Sea Ltd., operator of Southeast Asia’s biggest gaming platform, reported a wider third-quarter loss on rising investments at e-commerce unit Shopee. Net loss increased to $218 million in the three months ended on September 30 from $132.8 million a year earlier, the company said. Total revenue rose to $204.9 million from $94.1 million. Sea has been struggling to keep ...

Bloomberg China’s plan to judge each of its 1.3 billion people based on their social behaviour is moving a step closer to reality, with Beijing set to adopt a lifelong points program by 2021 that assigns personalised ratings for each resident. The capital city will pool data from several departments to reward and punish some 22 million citizens based on ...

Bloomberg Three years ago, artificial intelligence company DeepMind embarked on a landmark effort to transform health care in the UK. Now plans by owner Alphabet Inc to wrap the partnership into its Google search engine business are tripping alarm bells about privacy. Data protection advocates cried foul when the company reversed course on a pledge to keep DeepMind Health, which ...

Bloomberg PG&E Corp rose after a California lawmaker requested a bill to help the state’s largest utility absorb liabilities from this year’s fatal wildfires. Kellie Smith, an adviser to assemblyman Chris Holden, said she is drafting legislation that could be introduced as early as December 3. It may serve as a framework for lawmakers to consider relief for PG&E from ...

Bloomberg European Union negotiators approved the first bloc-wide rules to prevent foreign investments from threatening national security in a sign of growing political unease over Chinese acquisitions. Representatives of EU governments and the European Parliament agreed on draft legislation to screen foreign direct investments (FDI). The deal in Brussels ends 14 months of deliberations over an initiative that for years ...

Bloomberg Shares of Boston Scientific Corp fell the most in more than three years, after the medical device company said it would buy BTG Plc for 3.3 billion pounds ($4.2 billion). While the deal will give Boston Scientific new products for the treatment of cancer and other disorders, it will add to the US company’s debt. It also likely takes ...