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Bloomberg Steinhoff International Holdings NV ex-Chief Financial Officer Ben La Grange blamed departed leader Markus Jooste and auditors including Deloitte LLP for the retailer’s accounting scandal, saying he became aware of any wrongdoing only days before the crisis erupted. In his first public comments since being suspended by the company, La Grange said Steinhoff’s financials were corrupted by third-party transactions ...

Bloomberg Renault SA is betting on a sustained recovery in Russia’s car demand, unveiling a sleek coupe-style sport utility vehicle in Moscow that’ll be manufactured in the French carmaker’s second-biggest market. The Arkana coupe-crossover, due to first go on sale in Russia next year, will help to expand the manufacturer’s offering of popular SUVs such as the Kadjar or Koleos, ...

Bloomberg Oil touched the highest level in three weeks after a government report showed a bigger US crude stockpile decline than expected. Futures in New York advanced as much as 1.5 percent. The Energy Information Administration reported nationwide crude inventories fell 2.57 million barrels last week, larger than a decrease of 1.49 million barrels that analysts forecast in a Bloomberg ...

Bloomberg Exxon Mobil Corp. set a goal for reducing emissions from its Canadian oil sands, the second time this year the world’s biggest oil explorer by market value published a greenhouse-gas target. Imperial Oil Ltd., a Calgary-based subsidiary 69-percent owned by Exxon, will reduce the intensity of emissions by 10 percent over the next five years, compared with 2016 levels, ...

Bloomberg Toyota Motor Corp. is aiming to triple car production in China by as soon as 2030 in a renewed push to make up lost ground in the world’s biggest market, according to people familiar with the plan. Asia’s largest automaker is targeting to manufacture 3.5 million vehicles annually in China around that year while boosting imports to the country ...

Bloomberg NIO Inc., the Chinese electric-car maker backed by Tencent Holdings Ltd., is planning a US initial public offering that would give it a valuation topping $8 billion as it gears up to take on the likes of Tesla Inc. The company is aiming to raise as much as $1.3 billion, offering 160 million American depositary shares at $6.25 to ...

Bloomberg Jerome Powell’s upcoming Asia visit will test the Federal Reserve chief’s appetite for risk on a far different scale to the US economy. As Indonesia prepares to host the International Monetary Fund and World Bank Group annual meeting on the island of Bali in October, authorities are planning for all sorts of potential natural disasters from earthquakes to tsunamis, ...

Bloomberg China’s ride-hailing giant Didi Chuxing issued a public letter of apology and said it would prioritise safety over growth after a second passenger in three months was allegedly murdered by a driver while using its services. “Today, Didi will stop using scale and growth as our measurement of success,” the company said in a statement from Chairman Cheng Wei ...

Bloomberg Mayalyn Magracia is one of millions of undocumented Filipinos. “Like an alien,” is how the housekeeper in Manila describes what she felt when she discovered she had no birth record. That was over a decade ago, when Magracia hoped to find work in a factory or restaurant. Having no birth certificate made it impossible to apply for a government-issued ...

DUBAI / WAM Dubai Airport Freezone Authority (Dafza) announced strong business results for first half of 2018, showing an 11 percent growth in Earnings Before Interest, Depreciation (EBID) in comparison with same period of 2017 and a growth of new rental revenues by 27 percent. The results include a 10 percent increase in licensing revenues and a 31 percent increase ...