News

  Bloomberg PSA Group is unlikely to revive its car sales soon in China, the world’s largest automotive market, until the automaker can improve staffing at dealerships, Chief Financial Officer Jean-Baptiste de Chatillon said. “We need to address and fix some human resources aspects of the question” following a 46 percent plunge in the French manufacturer’s first-quarter deliveries in China ...

  Bloomberg Linamar Corp. is a perfect poster child for globalization. Founded by a refugee fleeing Soviet aggression in his native Hungary, the Canadian auto-parts maker has 24,500 employees spread around 12 countries. Its supply chain weaves in and out of dozens of nations — a single part can cross seven borders before finding its final home in a completed ...

  Bloomberg Canadian Foreign Minister Chrystia Freeland said she’s confident her country will prevail over the US in a lumber dispute and urged President Donald Trump’s administration to uphold free trade. Freeland said she raised trade matters with first daughter Ivanka Trump on the sidelines of a conference in Berlin, though it wasn’t the focus of the meeting. The US ...

  Bloomberg AT&T Inc. maintained its 2017 profit outlook despite losing wireless customers for the first time ever, reflecting rising competitive pressure in the mobile-phone business. With every major carrier now enticing consumers with unlimited data offers, Dallas-based AT&T shed 191,000 subscribers in the first quarter. Nine analysts surveyed by Bloomberg had predicted a gain of 100,000. The results underscore ...

  Bloomberg President Donald Trump will open the door to new oil and natural gas drilling in Pacific waters off the coast of California with a directive that sets up a certain clash with environmentalists. Trump will order the Interior Department to review locations for offshore oil and gas exploration and consider selling drilling rights in territory that former President ...

  Bloomberg As dawn broke on the UK’s decision to leave the European Union last year, Julian Braithwaite was awoken by a phone call from a fellow diplomat in Geneva. The message was more like a warning: your world is about to change. The British ambassador to the World Trade Organization, until now a job more in name than practice, ...

  Bloomberg America’s working class is falling further behind. The rich-poor gap — the difference in annual income between households in the top 20 percent and those in the bottom 20 percent — ballooned by $29,200 to $189,600 between 2010 and 2015, based on Bloomberg calculations using US Census Bureau data. Computers and robots are taking over many types of ...

  Bloomberg Daimler AG plans to ratchet up development spending throughout the year as the inventor of the automobile scrambles to keep pace with a disruptive shift to electric, self-driving vehicles. Research-and-development expenses jumped 24 percent to 2.1 billion euros ($2.3 billion) in the first quarter and will continue to rise in the course of 2017, the Stuttgart, Germany-based company ...

  Bloomberg Emma Walmsley pledged to spur growth at GlaxoSmithKline Plc’s pharmaceutical unit less than a month after taking over as chief executive officer of the UK’s largest drugmaker. “We are a science-based company,” Walmsley, who had been head of Glaxo’s consumer products division before her appointment in September, told reporters on Wednesday. “Our focus has got to be around ...

  DUBAI / WAM Expo 2020 Dubai, the first mega-event to be hosted in the region, will lay the foundations for a diversified and sustainable tourism industry through a series of initiatives designed to support the UAE’s plans for diversification to a knowledge-based economy. The strategy was revealed during Expo 2020 Dubai: The Legacy, the first session to take place ...