News

Bloomberg China’s exports rebounded, while imports remained robust, thanks to strong demand at home and abroad despite worsening relations with the US Exports in dollar terms rose 14.5 percent in September compared to the same period last year, the customs administration said, higher than the forecast of 8.2 percent. Imports climbed 14.3 percent, leaving a trade surplus of $32 billion. ...

Bloomberg China won’t use its currency as a tool to deal with trade conflicts, central bank Governor Yi Gang said, as a tariff war between the US and the world’s No. 2 economy intensifies. “China will continue to let the market play a decisive role in the formation of the RMB exchange rate,” Yi said in a statement to the ...

Bloomberg Indonesia’s weakening currency is a good thing as it will spur the government to accelerate reforms to bolster the economy, according to Thomas Lembong, chairman of the Investment Coordinating Board. The government will soon outline measures to open up the economy to more foreign investment, Lembong said at the “Bloomberg Modern Markets” conference in Bali, declining to elaborate ahead ...

Bloomberg India is considering a proposal to increase import duties on a raft of products ranging from plastic to steel as it seeks to curb a ballooning current-account deficit and prop up a sagging rupee, people familiar with the matter said. Prime Minister Narendra Modi’s administration is planning to increase tariff on items including furniture, chemicals and mobile phone components. ...

Bloomberg A regular client of the International Monetary Fund (IMF), investors are asking whether Pakistan’s 13th loan program since the late 1980s will finally break a cycle of financial crashes and bailouts. Pakistan’s history of taking the lender’s money while dragging its heels on economic reforms suggest otherwise. With Islamabad now formally requesting IMF aid — seeking to raise anywhere ...

Bloomberg The UK Treasury is planning new measures to encourage investment in machinery and factories to help revive Britain’s flagging productivity, two officials familiar with the matter said. Chancellor of the Exchequer Philip Hammond may use the budget on October 29 to announce the measures, with tax breaks under active consideration, according to the officials, who declined to be named ...

Bloomberg US authorities have opened investigations into whether shares in Broadcom Inc. and CA Technologies Inc. were the target of a stock-manipulation scheme, according to people familiar with the matter. The inquires are related to Broadcom’s announcement that lawmakers were given what purported to be a US Defense Department assessment of national-security concerns surrounding Broadcom’s planned purchase of CA. That ...

Bloomberg Facebook Inc. said intimate information, including search results, recent locations and hometowns, were stolen from 14 million users by attackers in a major hack of the social network disclosed two weeks ago. The company said the cyber-attack, one of the worst to hit Facebook, affected 30 million people rather than about 50 million the company first reported September 28. ...

Bloomberg Microsoft Corp.’s Chief Executive Officer Satya Nadella called for national privacy legislation, days after Google became the latest tech giant to reveal a security flaw, potentially exposing personal data. “We hope that there’s more of a national privacy law,” Nadella said in an interview with Bloomberg News at the US Naval Academy in Annapolis, Maryland, where he discussed leadership ...

Bloomberg A gauge of underlying US inflation was below estimates in September as used-car costs fell and housing rents cooled, signalling that price gains may remain close to where Federal Reserve policy makers want them amid an outlook for continued gradual interest-rate hikes. Excluding volatile food and energy costs, the core consumer price index rose 2.2 percent in September from ...