News

Bloomberg Indra Nooyi is stepping down as chief executive officer of food and beverage giant PepsiCo Inc., handing the reins to a top lieutenant in a transition that will draw attention to the dearth of prominent female CEOs in corporate America. Nooyi, 62, will leave the role in October and remain chairman until early 2019. Ramon Laguarta, 54, who has ...

Bloomberg German manufacturers took a hit in June as a slide in overseas demand knocked factory orders amid escalating trade tensions. Orders fell 4 percent from the previous month — eight times as much as forecast in a Bloomberg survey of economists — and the 0.8 percent drop from a year ago was the first annual decline since 2016. The ...

Bloomberg Google’s plans for China are even more ambitious than previously understood. The internet giant is in talks with Tencent Holdings Ltd., Inspur Group and other Chinese companies to offer its cloud services in the world’s second-largest economy, according to people familiar with the discussions. The discussions began in early 2018 and Google narrowed partnership candidates to three firms in ...

Bloomberg Silicon Valley’s going old school. As tech companies like Facebook Inc. and Google vacuum up billions of dollars in online advertising, they’re pouring their own marketing dollars into billboards and other forms of outdoor signage. That’s driving growth in one of the oldest forms of marketing and is one reason why the category is the only traditional channel expected ...

Bloomberg China’s GCL-Poly Energy Holdings Ltd. sank to the lowest level in more than nine years as a deal for the company to sell a controlling stake in its polysilicon unit worth $1.9 billion to Shanghai Electric Group Co. fell apart. Shares of GCL-Poly in Hong Kong fell 7.6 percent to close at HK$0.61, the lowest since March 2009, paring ...

Bloomberg The Trump administration will consider partial exemptions from oil sanctions against Iran for some countries as a first wave of non-oil penalties against the Islamic Republic snap back into effect on Tuesday, US officials said. President Donald Trump is still willing to meet with Iranian President Hassan Rouhani at any time, without preconditions, as the US ramps up economic ...

Bloomberg After a weekend of claims by US President Donald Trump that he has the upper hand in the trade war with China, Beijing responded through state media by saying the nation is ready to endure the economic fallout. China is prepared for a “protracted war” and doesn’t fear sacrificing short-term economic interests, according to an editorial in the nationalist ...

Bloomberg Subaru Corp. reported a sales slide in the US, its largest market, and predicted a “big impact” from President Donald Trump’s proposed tariffs on imported vehicles following the escalation of a global trade war. Unit sales in the US dropped about 14 percent to 149,800 vehicles in the three months through June 30, the company said in a presentation. ...

Bloomberg Taiwan Semiconductor Manufacturing Co. blamed a crippling cyber-virus outbreak on a variant of the 2017 WannaCry ransomware, outlining how it shut several plants just as the company ramps up chipmaking for Apple Inc.’s next iPhones. Chief Executive Officer C. C. Wei said full operations have resumed and that the malware would reduce revenue this quarter by no more than ...

Bloomberg One of China’s largest appliance makers is preparing for the impact of US trade tariffs as it seeks to expand its international footprint. About 5 percent of products sold in the US by GE Appliances — a unit of Qingdao Haier Co. — are imported from China and face tariffs now or will get hit by those being proposed ...