News

Bloomberg Profit growth in Chinese industrial enterprises slowed for a fifth month amid the ongoing US-China trade spat and a weakening domestic economy. Industrial profits rose 4.1 percent in September from a year earlier, versus a 9.2 percent increase in August. Total profits for the month were 545.5 billion yuan ($78.6 billion), the National Bureau of Statistics said. The slowdown ...

Bloomberg Naspers Ltd. is planning to increase its stake in Indian online food-delivery business Swiggy as the startup plots its third fund-raising round of the year, according to people familiar with the matter. Africa’s largest company by market value has indicated that it intends to support a financing that could raise more than $600 million, Swiggy’s biggest to date, according ...

Bloomberg Zydus Wellness Ltd., with parent Cadila Healthcare Ltd., agreed to pay 46 billion rupees ($628 million) to acquire some Kraft Heinz Co. businesses in India to strengthen their presence in the world’s fastest growing major economy. Zydus will gain control of nutrition drink Complan, instant-energy drink Glucon-D, talcum powder brand Nycil and ghee brand Sampriti from the acquisition of ...

Bloomberg Microsoft Corp. posted another quarter of brisk revenue growth driven by cloud services, underscoring the company’s success in shifting its business towards internet-based computing. The stock rose in early trading. Profit and sales for the period ended on September 30 exceeded analysts’ estimates, with revenue from Azure cloud-computing services jumping 76 percent. Office 365, the internet- based versions of ...

Bloomberg Prominent scientists are sounding the alarm on Brexit. UK researchers worry that a sharp break in ties with the European Union or failure to work out a deal could lead to an exodus of highly skilled specialists, crippling research, the Francis Crick Institute said. A survey of more than 1,000 staff members at the UK’s biggest biomedical research lab ...

Bloomberg Issuance of second-lien loans in Europe has surged this year as more borrowers tap into the growing appetite from private debt investors who are keen to source higher-yielding paper. Supply volumes have been further boosted by a handful of larger transactions that includes this week’s 500 million euro ($571 million) second-lien loan for hearing-aid maker Sivantos Pte Ltd. and ...

Bloomberg Orders placed with US factories for business equipment declined in September for a second month, a sign momentum in capital investment has paused as global trade concerns persist, Commerce Department figures showed. The report showed declines in bookings for electrical equipment, appliances and components, while orders for computers and electronic products were unchanged. Categories with gains included motor vehicles ...

Bloomberg Daimler AG has its work cut out to get a fourth-quarter earnings bounce. After two consecutive profit warnings, the German manufacturer of Mercedes-Benz cars sees improvements by clearing out vehicle stock in Europe and maintaining sales momentum in China, the Stuttgart-based company said in a statement. Neither will be easy. “Daimler is certainly not alone when hoping for a ...

Bloomberg Comcast Corp. climbed in early trading after its focus on improving its internet service paid off in the third quarter, with the largest US cable provider posting a big increase in broadband subscribers. The company added 363,000 internet subscribers in the period, a 70 percent increase from a year earlier. Comcast has had only one previous quarter in the ...

Bloomberg Oil tumbled for a third straight week as crumbling equity markets across the globe stoked concern about a slowdown in energy demand growth. A 0.4 percent gain in New York-traded futures wasn’t enough to halt a 2.2 percent decline for the week. Eight of every 10 stocks in the S&P 500 were in retreat as a cavalcade of negative ...