News

Bloomberg Hong Kong’s government will hold a joint conference with other officials in Beijing on June 12 to discuss the city’s involvement in China’s sprawling Belt and Road infrastructure initiative. The conference will detail Hong Kong’s “full participation in and contribution to the Belt and Road Initiative, the work priorities and initiatives to be implemented for the year,” according to ...

Bloomberg If China is deleveraging, it seems someone forgot to tell the No. 2 toll-road operator of eastern Shandong province, which just bought a risky piece of debt in an effort to goose its returns. An offshore unit of Shandong Hi-Speed Group Co. subscribed for about $10 million of dollar-denominated leveraged notes linked to Future Land Development Holdings Ltd.’s notes, ...

Bloomberg A watchdog group is calling on Amazon.com Inc. to improve conditions for factory workers in China who make Echo speakers and Kindle e-readers, renewing criticisms that CEO Jeff Bezos became the world’s wealthiest man on the backs of low-paid labourers. The New York-based China Labor Watch released a report at the weekend following a nine-month investigation of working conditions ...

Bloomberg After hastily withdrawing their new messaging app amid glaring security flaws, an Indian billionaire and his penurious yoga guru partner are about to have another go at it. Acharya Balkrishna, who collaborated with celebrity yogi Baba Ramdev to build an Indian consumer goods empire, plans a formal release of the Kimbho messenger app within weeks as he tries to ...

Bloomberg Argentina secured a $50 billion stand-by arrangement from the International Monetary Fund to help restore investor confidence as the government takes aim at double-digit inflation and a widening budget deficit. The rescue program’s size, which would run for 36 months, is the largest ever in IMF history though it will depend on how much the government taps. It comes ...

Bloomberg Large companies listed in the UK will have to explain the pay gap between bosses and employees under government plans to be submitted to Parliament. Firms with more than 250 staff on their books will have to publish and justify the difference in pay between chief executives and workers and will have to detail how directors are acting in ...

Bloomberg General Electric Co. shareholders can breathe a little easier. At least for now. The board declared a 12-cent dividend, holding the payout steady for another quarter despite growing concerns that it would get cut. The dividend is payable July 25 to owners of record at the close of business June 18, GE said in a statement. The decision offers ...

Bloomberg A Danish tech company that went public quickly soared far above the price that initial investors agreed to pay for the stock. Netcompany A/S, which says it wants to be a key player in helping northern Europe go digital, sold shares in an initial public offering for 155 kroner a piece, according to a pre-market announcement. When trading started, ...

Bloomberg Broadcom Inc. reaffirmed its revenue forecast for the current period and reported profit that beat estimates, indicating robust sales of chips used in data-center networks are helping to make up for lackluster demand in the smartphone business. Revenue will be about $5.05 billion, plus or minus $75 million, in the quarter ending in July, the San Jose-based chipmaker said ...

ABU DHABI / WAM The UAE has ranked 30th in the world in terms of a nation’s ability to attract foreign direct investment in 2017, up five places from 2016. According to the UN Conference on Trade and Development (UNCTAD), ‘World Investment Report 2018’, FDI to the UAE rose by eight percent to $10.4 billion in part due to rising ...