News

  Bloomberg South Korea banned the sale of 10 models built by Nissan Motor Co., BMW AG and Volkswagen AG’s Porsche after an investi- gation found the automakers fabricated documents related to emission tests. The three manufacturers were slapped with total fines of 7.17 billion won ($5.9 million), which apply to 4,523 vehicles, and the certifications given for these models ...

  Beijing / AP Beijing and other cities across northern and central China were shrouded in thick smog, prompting authorities to delay dozens of flights and close highways. The Beijing Municipal Environmental Protection Bureau extended an “orange alert” for heavy air pollution for three more days. Beijing’s smog had initially been forecast to lift by Monday. The “orange alert” is ...

  Bloomberg A private gauge indicates that India’s manufacturing sector will shrink for the first time in a year as Prime Minister Narendra Modi’s unprecedented clampdown on cash hurts demand. The Nikkei India Manufacturing Purchasing Managers’ Index was at 49.6 in December, a report showed, the lowest since December 2015. A number below 50 indicates a contraction. “Shortages of money ...

  Beijing / AP State broadcaster Central China Television has rebranded its international networks and digital presence under the name China Global Television Network as part of a push to consolidate its worldwide reach. CCTV unveiled several new mobile apps under the CGTN brand, and visitors to CCTV’s non-Chinese language websites are directed to a new http://www.cgtn.com site. The broadcaster ...

  Bloomberg It’s clear the era of rapid growth for US auto sales is over. The industry entered 2017 with analysts projecting the first significant decline in eight years — a drop of 200,000 vehicles, about the equivalent of one factory’s production — to 17.3 million cars and light trucks. While top-earning consumers will continue to snap up luxury vehicles ...

  Bloomberg Tesla Motors Inc. customers in the UK may find their Christmas cash goes a little further than expected after the carmaker postponed a price increase by two weeks. The US electric-auto manufacturer’s plans to raise prices 5 percent in the UK have been put off until Jan. 15 from the original beginning-of-the-year deadline, Tesla said in an e-mailed ...

  Bloomberg Household confidence in the US is closing in on its best year since before the last recession, according to figures in the Bloomberg Consumer Comfort Index. Comfort measure cooled to 46 in period ended Dec. 25, the first retreat in five weeks, from 46.7. The gauge in the prior week was the strongest since April 2015. Gauge of ...

  Bloomberg Euro-area manufacturing expanded last month at the fastest rate since April 2011, in a sign that the currency bloc’s recovery is intact heading into 2017. A Purchasing Managers’ Index climbed to 54.9 in December, IHS Markit said on Monday. The reading matches the initial estimate on Dec. 15 and was up from 53.7 in November. Higher import costs ...

  Beijing / AFP China will further tighten controls on individuals’ foreign currency purchases to try to curb massive capital flight from the country as the yuan falls sharply against the dollar. Individuals wishing to convert yuan to foreign currencies will now have to provide more detailed information to their bank, including an explanation of the funds concerned in addition ...

  ABU DHABI / WAM Emirati and Kazakh officials discussed ways of promoting co-operation and co-ordination on religious affairs to project the genuine and bright image of Islam, its upholding of ethical and human values as well as its call to spread tolerance and peaceful co-existence and reject fanaticism, extremism and terrorism. Chairman of the UAE General Authority of Islamic ...