News

  Bloomberg Toyota Motor Corp., whose investments in Mexico have drawn criticism from US President-elect Donald Trump, said it plans to invest $10 billion in the US over the next five years, maintaining the pace of spending it established during the last half decade. Jim Lentz, Toyota’s chief executive officer for North America, outlined the company’s intentions during an interview ...

  Bloomberg Valeant Pharmaceuticals International Inc., the embattled Canadian drugmaker, agreed to sell about $2.1 billion in assets to get cash to streamline its businesses and begin easing its debt burden. L’Oreal SA will pay Valeant $1.3 billion for three skin-care brands, the Paris-based company on Tuesday said in a statement. Earlier in the day, Valeant said it would sell ...

  Bloomberg Egypt’s urban consumer prices rose the fastest in at least six years in December, fueled in part by a 28.3 percent increase in food costs following the central bank’s decision to abandon currency controls two months ago. Annual urban inflation accelerated to 23.3 percent in December, while the monthly rate quickened to 3.1 percent, according to the state-run ...

  Bloomberg Indian real-estate websites PropTiger.com and Housing.com are merging to create the country’s top portal for residential listings and property services, as Rupert Murdoch’s News Corp. boosts its investment in the growing sector while Masayoshi Son’s SoftBank Group Corp. scales back. REA Group Ltd., an Australian real-estate company controlled by News Corp., is putting $50 million into the new ...

  Bloomberg China’s producer price index rose at the fastest pace in more than five years in December as the factory to the world swings from being a drag on global inflation to another potential force pushing prices higher. PPI jumped 5.5 percent last month from a year earlier, compared to the median estimate of 4.6 percent in a Bloomberg ...

  BEIJING/ AP China’s top economic planner pledged on Tuesday to continue cutting steel and coal production that have been a source of trade friction with many countries. China reached targets for cuts in production capacity last year, Xu Shaoshi, chairman of the National Development and Reform Commission, said, adding that hundreds of thousands of steel and coal workers have ...

    BLOOMBERG India’s automobile sales fell the most in 16 years last month after Prime Minister Narendra Modi’s unprecedented clampdown on cash prompted consumers to delay their purchases of cars, motorcycles and trucks. Automobile sales fell 19 percent to 1.2 million units in December, the biggest drop since the same month in 2000, according to data released by the ...

  Bloomberg Consumers in China bought passenger vehicles at the fastest pace in three years to take advantage of a tax cut on small-engine automobiles, boosting deliveries of automakers from General Motors Co. to Great Wall Motor Co. Dealerships sold 23.9 million cars, sports utility and multipurpose vehicles last year, capping a 15.9 percent gain, according to data released Tuesday ...

  Bloomberg Facebook Inc. bet early on virtual reality, buying Oculus VR 2 1/2 years ago to get its groundbreaking headset. Now it’s fighting claims that the Oculus Rift was built with stolen technology and promoted with a false origin story about a young entrepreneur tinkering in his parents’ garage. What started as a falling out between tech geeks has ...

  Bloomberg Optimism among America’s small businesses soared in December by the most since 1980 as expectations about the economy’s prospects improved dramatically in the aftermath of the presidential election. The National Federation of Independent Business’s index jumped 7.4 points last month to 105.8, the highest since the end of 2004, from 98.4. While seven of the 10 components increased ...