News

  Bloomberg Nike Inc. posted second-quarter results that surpassed analysts’ estimates, soothing concerns that the world’s largest sports brand is losing ground to competitors such as Adidas AG and Under Armour Inc. Profit was 50 cents a share in the period, which ended Nov. 30, Nike said in a statement. That compared with the 43-cent average of analysts’ projections. Sales ...

  Bloomberg UK house-price inflation will slow in 2017 as affordability stretches potential buyers, according to the Royal Institution of Chartered Surveyors. Values will rise just 3 percent and the number of transactions will see a moderate decline, RICS said in a statement on Wednesday. That compares with a year-on-year price increase of 6.9 percent in October, according to the ...

  Bloomberg BlackBerry Ltd. boosted its fiscal 2017 earnings outlook and posted a profit in the third quarter, showing the company’s bet on moving more into software and completely away from handsets is paying off. Fiscal third-quarter earnings per share, excluding some items, were 2 cents, compared with analysts’ average estimate of a loss of 1 cent. BlackBerry said it ...

  Bloomberg Actelion Ltd. Chief Executive Officer Jean-Paul Clozel is known for his faith in the Swiss drugmaker’s experimental medicines, an optimism that may have helped scuttle a deal with Johnson & Johnson. New suitor Sanofi has the perfect negotiating tool. The French company’s takeover offer may include a contingent value right, or CVR, worth about $20 of the $275 ...

  Riyadh / AFP Crowds are jamming the aisles of a Riyadh coffee and chocolate exhibition this week, as Saudis indulge the country’s sweet tooth and craze for caffeine. The International Coffee and Chocolate Exhibition, which opened on Tuesday and will run to Friday, is billed as the largest of its kind in the Middle East. In its third year, ...

  Bloomberg Offshore hedge fund managers and priced-out young Australians have long argued the pace of house price growth in the nation’s biggest cities is unsustainable. They may finally be right. After two years of double-digit growth, the Sydney house price index gained just 3.2 percent in the year to September, the weakest increase since 2012, according to the latest ...

  Bloomberg Japan Display Inc., a struggling Japanese maker of smartphone screens, agreed to a 75 billion yen ($637 million) injection of cash from a government-backed fund. The supplier to Apple Inc. will issue 45 billion yen of convertible debt to Innovation Network Corp. of Japan, already its largest shareholder, Japan Display said in a statement in Tokyo on Wednesday. ...

  Mumbai / AFP Indian internet and telecoms company Reliance Communications said on Wednesday it had agreed to sell its mobile phone tower business to Canadian asset management giant Brookfield for $1.6 billion. Reliance Communications said the deal represented the largest investment by a foreign investor in Indian infrastructure and comes as Brookfield seeks to capitalise on liquidity constraints at ...

  Bloomberg Cyrus Mistry, the ousted chairman of Tata Sons Ltd., wants an Indian court to restrain the family scion from attending board meetings, according to a filing made by the executive against his abrupt dismissal from the post. Mistry also asked the National Company Law Tribunal to appoint an administrator to manage Tata Sons, according to the filing seen ...

  Bloomberg China called for better coordination to cut emissions after a sixth day of heavy smog engulfed much of the northern part of the country and spurred the year’s highest alert. With the toxic haze shrouding the capital Beijing, coastal Tianjin, and surrounding Hebei province, the environmental protection ministry called for cities to coordinate anti-emission measures such as halting ...