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Bloomberg Toshiba Corp. is all but guaranteed to miss a May 1 deadline to sell its memory chips business to a Bain Capital-led group, people familiar with the matter said, raising the chances it may consider other options that could yield billions of additional dollars for the unit. Chinese regulators are now conducting a third review of the deal, which ...

Bloomberg China’s tropical island of Hainan is basking in the glow of a raft of favorable economic policies, some unveiled by none other than President Xi Jinping. But, now, it’s also notable for something else: China’s first province-wide home-buying restrictions, after previous curbs were expanded in an announcement. To get a sense of the scale, that’s an area a bit ...

Bloomberg President Xi Jinping’s big push to curb pollution and excess capacity in steel and other industries is also consolidating his government’s control over them. Just last year, the state’s share of steel capacity increased to 67 percent from 60 percent while aluminum smelting saw about an equal increase, J Capital Research Ltd. estimates. In coal, which began consolidating years ...

Bloomberg The Department of Justice opened another front in its scrutiny of the US telecom industry, signaling it’s set on maintaining a deeply competitive environment in a market where four major carriers are jostling for new subscribers. Antitrust officials are investigating whether AT&T Inc. and Verizon Communications Inc. colluded to make it tougher for consumers to change wireless carriers, people ...

Bloomberg Akorn Inc. shares lost about a third of their value after Fresenius SE walked away from a pending $4.3 billion acquisition of the US maker of generic cancer drugs in response to a probe that found problems with its product-development practices. The German company said its outside experts found “material breaches” of US Food and Drug Administration standards while ...

Bloomberg Royal Philips NV Chief Executive Officer Frans van Houten said the Dutch manufacturer of medical equipment remains on the hunt for companies to buy as it hones focus on the health-care sector. “We are interested to do bolt-on acquisitions,” he said in an interview on Monday with Bloomberg TV after publishing quarterly earnings. “Deals done last year were bolt-on, ...

Bloomberg Growth in Europe’s largest economy unexpectedly picked up in April, reversing a slowdown at the start of the year. A Purchasing Managers’ Index for manufacturing and services rose to 55.3 from 55.1, IHS Markit said on Monday. Economists surveyed by Bloomberg predicted the measure would drop to 54.8. “Growth of Germany’s private sector steadied in April, to arrest the ...

Bloomberg British outsourcing firm Capita Plc’s shares pared some of this year’s heavy losses, rising as much as 14 percent in London, after the company announced a restructuring aimed at saving hundreds of millions of pounds. Capita, which provides customer-service functions for the likes of Marks & Spencer Group Plc and is responsible for collecting BBC license fees, is targeting ...

Bloomberg Economic momentum in the euro area kept a steady pace in April after softening earlier in the year, in a sign that growth in the region is set to continue albeit at a slower pace. A composite Purchasing Managers’ Index remained unchanged at 55.2, IHS Markit said on Monday. Economists surveyed by Bloomberg predicted a decline to 54.8. While ...

ABU DHABI / WAM In a significant milestone for Adnoc Distribution’s international growth plans, the Saudi Ministry of Municipal and Rural Affairs (MOMRA) has awarded the company a license to own, operate and manage service stations in the Kingdom. The announcement was made in Riyadh on Sunday. Adnoc Distribution announced plans to open at least one service station in the ...