News

  Bloomberg Pakistani tycoon Arif Habib said Asia’s best stock market rally in the past year may extend a further 20 percent led by banks, fertilizer and energy compa- nies, rejecting concerns that the market has been supported by speculators. As industries and the economy grow, Habib, the Karachi-born financier who has seen his fortune swell after his start as ...

  Bloomberg Record cargoes of iron ore coming into China and fewer boatloads of steel going out signal a boon for miners including BHP Billiton Ltd., Rio Tinto Group and Vale SA, as well as welcome news for rival metal producers like Europe’s ArcelorMittal. Purchases of ore rose 13 percent to 83.5 million metric tons in February, an all-time high ...

  Bloomberg India’s monsoon may escape the effects of a possible El Nino event that can bring dry weather to the world’s top cotton grower and second-biggest wheat and sugar producer. “Mostly it may not have any impact on rains” because the El Nino probably won’t develop until later this year, said D.S. Pai, head of the long-range forecasting division ...

  Bloomberg The tailwind from surging factory prices is strengthening corporate profits and supporting growth, opening a window for China to deepen cuts in excess industrial capacity without inflicting too much damage on the broader economy. The catch: that window may not stay open for long. That’s because factory prices — forecast to have increased 7.7 percent in February from ...

  Bloomberg Fiat Chrysler Automobiles NV is considering shifting manufacturing of its Panda city car to low-wage Poland to create production space for more upscale models in Italy, according to people familiar with the matter, as earnings pressure on European automakers mounts amid stalling growth. Carmakers fighting for customers at the Geneva International Motor Show this week are aware that ...

  Bloomberg President Donald Trump threw his weight behind a House Republican plan to replace Obamacare, even as conservatives mounted their own savage attack on the bill, with one Republican senator declaring it “dead on arrival” in the Senate. Trump held a White House meeting with the House Republican vote-counting team to rally them behind the bill, setting up an ...

  LONDON / AP President Donald Trump’s immigration stance has begun to discourage foreign visits to major US cities, threatening to cost billions of dollars and thousands of jobs. New York, the nation’s most visited city by people overseas, predicts such trips will drop more than 2 percent this year to 12.4 million, the first decline after eight consecutive annual ...

  Bloomberg Peaking demand, sky-high sales incentive costs, threats of a border tax — none of these are distracting Subaru from its marketing and growth ambitions in its biggest market. “America is the pillar,” Yasuyuki Yoshinaga, chief executive officer of Fuji Heavy Industries Ltd., which owns the Subaru brand, said in an interview Thursday. “It’s true we want to increase ...

  Bloomberg Long before President Donald Trump has made good on his pledge to spend $1 trillion on US infrastructure projects — including using only American metal in new pipelines — investors already are seeing a big payoffs from domestic steel producers. The VanEck Vectors Steel ETF delivered an 82 percent return in the past year as shares surged in ...

  Bloomberg Central London office values will probably fall as much as 20 percent this year as the economy slows and investors are deterred by uncertainty in the face of the UK’s exit from Europe and increased business rates, according to Deutsche Bank AG’s asset management unit. Spending on properties in the British capital slowed sharply before and after the ...