News

Bloomberg Babytree Group, a Chinese parenting website backed by Alibaba Group Holding Ltd. and Fosun International Ltd., is seeking as much as $282 million in a Hong Kong initial public offering. The Beijing-based company is offering 250.3 million shares at HK$6.80 to HK$8.80 apiece, according to terms for the deal obtained by Bloomberg. The deal, which is expected to price ...

Bloomberg SoftBank Group Corp. is continuing to push money into one of its biggest investments: WeWork Cos. The New York-based co-working company signed a $3 billion warrant with SoftBank, WeWork said in a discussion of its third-quarter earnings. SoftBank agreed to pay $3 billion to WeWork for the opportunity to buy shares before September 2019 at a price of $110 ...

Bloomberg The Trump administration will hold off for now on imposing new tariffs on automobile imports as top officials weigh revisions to a report on the national security implications, accordi-ng to two people familiar with the matter. President Donald Trump met with his top trade advisers at the White House to discuss a draft report on a Commerce Department investigation ...

Bloomberg The German economy shrank for the first time since early 2015 after the auto industry took a hit. The 0.2 percent contraction in the third quarter was worse than expected and the biggest in more than five years. While the hope is that the setback is related largely to new emissions tests that temporarily disrupted car production, the data ...

Bloomberg General Electric Co jumped as Chief Executive Officer Larry Culp accelerated plans to pare the company’s stake in Baker Hughes with a deal that wo- uld raise about $4 billion at current prices. GE will sell as many as 166.2 million shares in the oilfield-services provider through a secondary offering and a stock repurchase by Baker Hughes, the companies ...

Bloomberg As prices of stocks and bonds issued by PG&E Corp touch record lows, investors probably won’t get any certainty soon from the incoming California governor on how he would deal with the utility’s liabilities from the fatal fires ravaging the state. In a brief news conference with Governor Jerry Brown, Lieutenant Governor Gavin Newsom, who will succeed him in ...

Bloomberg Johnson Controls International Plc’s $13.2 billion sale of its car-battery business completes the company’s dramatic makeover from an automotive supplier to a provider of systems for homes and buildings, setting the stage for growth through acquisitions. Chief Executive Officer George Oliver is betting on continued growth of “smart buildings” as companies seek to boost efficiency of working spaces with ...

Bloomberg An anticipated pickup in UK inflation failed to materialise last month as food, clothing and transport prices declined. Annual consumer-price growth stayed at 2.4 percent in October, the Office for National Statistics said on Wednesday. The figure is below the 2.5 percent predicted by both the Bank of England and economists in a Bloomberg survey. Food and non-alcoholic drink ...

ABU DHABI / WAM The Abu Dhabi government and the Abu Dhabi National Oil Company (Adnoc) has signed the first of a series of concession agreements with Italy’s multinational oil and gas company Eni, awarding it a 25 percent stake in its offshore ultra-sour gas mega project. The Ghasha Concession consists of the Hail, Ghasha, Dalma and other offshore fields. ...

DUBAI / WAM Dubai external trade in foodstuff recorded AED44.24 billion in H1 of 2018. Imports made AED27.68 billion, exports touched AED7.71 billion, and re-exports recorded AED 8.84 billion, according to recent figures released by Dubai Customs in conjunction with the launch of Gulfood Manufacturing Exhibition 2018 in Dubai. Rice took the lion’s share of foodstuff trade with AED2.43 billion, ...