News

Bloomberg Indonesia’s rupiah rose for a 13th day in its longest rally in six years even after a senior minister expressed concern at the pace of gains. The currency advanced 0.6 percent to 13,052 a dollar as of 10:39 a.m. in Jakarta, according to prices from local banks. It touched 12,978 earlier, the strongest since April 30, 2015. The rupiah’s ...

Bloomberg Suzuki Motor Corp. plans to sell 200 billion yen ($1.8 billion) of convertible bonds and cancel most of the stock it bought back from Volkswagen AG last year, as the Japanese automaker expands in India following a failed alliance. Suzuki will sell the bonds primarily to fund the 185 billion rupee ($2.8 billion) factory it’s building in India’s western ...

Bloomberg China’s foreign-exchange reserves fell at a slower pace last month as the nation’s financial markets stabilized and policy makers took more steps toward shoring up growth. The world’s largest currency hoard dropped by $28.6 billion to $3.2 trillion in February, the People’s Bank of China said in a statement on Monday. That was the smallest decline since June and ...

Bloomberg Mark Carney’s scope to sidestep “Brexit” is dwindling. With a referendum on Britain’s European Union membership looming, the Bank of England governor has spent months trying to skirt the highly charged debate. An appearance before lawmakers this week may throw him right in, as happened in the buildup to the Scottish independence vote when his comments were hijacked by ...

London / Bloomberg Chancellor of the Exchequer George Osborne is under pressure to reverse his plans to liberalize the U.K.’s Sunday trading laws, with 23 Conservative members of Parliament saying they’re ready to vote against the government. In the Enterprise Bill, due to be debated by the House of Commons on Tuesday and Wednesday, local councils in England and Wales ...

MUNICH / Bloomberg BMW AG, which became the world’s largest maker of luxury cars by focusing on Autobahn thrills, is shifting gears to automated driving as urbanization and changing attitudes toward cars redefine transportation. “In the future, ‘Sheer Driving Pleasure’ will also be defined as liberating drivers through automation,” BMW said on Monday in a statement as it celebrated turning ...

London / Bloomberg Holders of the U.K.’s government bonds need not fear the prospect of Britain voting to leave the European Union as they stand to benefit from any economic woes that follow the vote, according to one of the world’s largest money managers. “If a ‘Brexit’ happened it would be very likely the Bank of England would ease policy ...

Bloomberg Few Finns probably thought that adopting the euro would mean more work for less pay. Yet trade unions are now getting ready to sign off on a deal that will cut workers’ income and raise working hours. Unveiled last week, it’s designed to boost competitiveness as the Nordic nation struggles within the constraints of the euro zone. The board ...

HONG KONG / Bloomberg Hong Kong residential home sales plunged 70 percent in February from a year earlier to a 25-year low, as falling prices and economic uncertainty deterred buyers. Last month, 1,807 homes were sold in Hong Kong, compared with 6,027 a year earlier, according to government statistics. Home sales fell from 2,045 in January, the data show. “The ...

BEIJING / Bloomberg Shanghai’s most-senior official said the city’s property market has “overheated” and should be more tightly controlled after a recent surge in residential housing prices. “An irrational and overheated sentiment have emerged in the Shanghai real estate market, and these sentiments have raised home prices,” Han Zheng, the city’s Communist Party chief, said at briefing during annual legislative ...