News

  Bloomberg Rolls-Royce Holdings Plc won approval from a UK judge for its settlement with British prosecutors as the US Justice Department unsealed a parallel agreement with the company in Ohio the day after the company announced it would pay $800 million in total to resolve bribery probes in both countries as well as Brazil. In London, Judge Brian Leveson ...

  Bloomberg London Mayor Sadiq Khan will urge business leaders to warn their governments of the threat posed to Europe by the “hard Brexit” advocated by UK Prime Minister Theresa May in her speech. Speaking at the World Economic Forum in Davos, Khan, who is a member of the opposition Labour Party, was expected to say that securing “privileged” access ...

  Bloomberg Oil companies and UK retailers are the sectors most likely to come under financial stress in Europe this year, even as central bank stimulus keeps borrowing costs near historic lows, according to S&P Global Ratings and Fitch Ratings. With the European Central Bank committing to an asset-purchase program until at least December, leveraged companies can refinance their debt ...

  Bloomberg With US railroads forecast to report their first earnings growth since 2015, a stock rally that began in anticipation of the profit rebound is looking overdone. An index of major carriers has jumped more than 55 percent since sinking to a three-year low Jan. 25, more than doubling the S&P 500 Index’s return. The surge pushed railroad stock ...

  Bloomberg Kuwait Investment Authority is planning to manage more of its own assets as the world’s fifth-largest sovereign wealth fund seeks to take more risk to boost returns. The KIA, as the fund is known, wants to increase the allocation of funds managed in-house to as much as 8 percent from 1 or 2 percent at present, Managing Director ...

  Bloomberg Saudi Arabia’s growth this year will be “significantly higher” than the International Monetary Fund’s new forecast, according to Finance Minister Mohammed Al-Jadaan. Economic expansion will be “north of 1 percent,” Al-Jadaan said in an interview at the World Economic Forum in Davos, Switzerland. The IMF lowered its forecast to 0.4 percent from 2 percent in its World Economic ...

  Bloomberg Qualcomm Inc. forced Apple Inc. to use its chips exclusively in return for lower licensing fees, unfairly cutting out competitors, the US said in a lawsuit against the biggest maker of mobile phone chips. Qualcomm’s exclusive deal with Apple was detailed in a Federal Trade Commission lawsuit accusing the chipmaker of illegally maintaining a monopoly for semiconductors used ...

  Bloomberg The cost of living in the US climbed for a fifth month on the back of shelter and fuel prices, pushing inflation closer to the Federal Reserve’s goal. The consumer-price index rose 0.3 percent in December, matching the median projection of economists, after a 0.2 percent gain the previous month, Labor Department figures showed on Wednesday in Washington. ...

  Bloomberg Apple Inc. is raising App Store prices in the UK as much as 25 percent, bending to the pound’s drop in value following the country’s vote to leave the European Union. Apps that cost 79 pence ($1.20) will increase to 99 pence, according to a notification sent to app developers today, seen by Bloomberg. Apps that costs $2.99 ...

  Bloomberg The UK economy lost fewer jobs than expected and wage growth picked up towards the end of 2016, suggesting the labor market remains relatively resilient. The number of people in work fell by 9,000 to 31.8 million in the three months through November, whereas economists had predicted a 35,000 decline. The jobless rate stayed at 4.8 percent, the ...