News

Bloomberg Foxconn Industrial Internet Co. plans to raise $4.3 billion selling stock in an initial public offering, kicking off the largest mainland Chinese debut since the 2015 stock market crash. Shares will be offered at 13.77 yuan apiece, valuing the company at about $43 billion — larger than eBay Inc. The smart factory unit of Hon Hai Precision Industry Co., ...

Bloomberg Chinese smartphone maker Xiaomi Corp. is opening a store in Paris and planning for more shops in France, Spain and Italy, testing the appetite of consumers in developed markets as its executives consider a US xpansion. “Every morning I think about the US market and when we’ll launch there,” Xiaomi Senior Vice President Wang Xiang, who heads global operations, ...

Bloomberg Sony Corp.’s new chief executive officer is interested in taking the Japanese electronics maker in an entirely new direction: moving objects. Kenichiro Yoshida, who took over in April, said that he’s always wanted to work on “moving objects,” adding that it’s far too early to say whether Sony will enter the space. “Through our semiconductors, we’re actually already a ...

Bloomberg Hewlett Packard Enterprise Co. gave a forecast for the current quarter that topped some Wall Street estimates, signalling that it’s benefiting from recent cost cuts and a push into software and computer services aimed at lessening its dependence on hardware. Profit excluding certain costs will be 35 cents to 39 cents a share in the fiscal third quarter, the ...

Bloomberg The euro-area economic rebound expected this quarter remains out of reach for now. After bad weather, strikes and a flu epidemic weighed on growth at the start of the year, manufacturing and services suffered another setback in May, when an unusual number of public holidays damped orders. In a sign that investors are getting impatient with the 19-nation economy, ...

Bloomberg Facebook Inc. founder Mark Zuckerberg left European Union lawmakers fuming over unanswered questions at the end of a hearing that began with a mea culpa for the company’s recent privacy woes. At a meeting at the EU Parliament, Zuckerberg repeated what he’s been telling every audience recently: that his company didn’t take a broad enough view of its responsibility ...

Bloomberg Thyssenkrupp AG’s chief Heinrich Hiesinger is facing the fight of his career as a pair of activist investors take aim at the German industrial giant. Elliott Management Corp. is building a stake in the company and wants to oust the 57-year-old chief executive for failing to guide the company through a turnaround, according to people familiar with the matter. ...

Bloomberg Covestro AG, the German chemical maker with roots dating back more than 150 years, is acting like a young upstart as it considers its first acquisitions after former parent Bayer AG completed cutting ties this month. Covestro wants to add polymer technology and broaden its coatings, adhesives and specialty-products offerings, said Patrick Thomas, who steps down as chief executive ...

Bloomberg By most accounts, Dubai’s biggest bank got a good deal when it agreed to buy Turkey’s Denizbank AS for $3.2 billion. Emirates NBD PJSC is buying the lender from Russia’s Sberbank at a time when the country is struggling with a plunging currency, a wave of debt restructurings, looming elections and political meddling in the finance industry. The purchase ...

ABU DHABI / WAM The Central Bank announced that the Money Supply aggregate M1 increased 1.3 percent, from AED510.6 billion at the end of March 2018 to AED517.4 billion at the end of April 2018. The Money Supply aggregate M2 increased 1.5 percent, from AED1293.8 billion at the end of March 2018 to AED1313.1 billion at the end of April 2018. ...