Bloomberg Tencent Holdings Ltd. agreed to buy a 5 percent stake in China’s Yonghui Superstores Co. for about $639 million, joining rival Alibaba Group Holding Ltd. in teaming up with a bricks-and-mortar retailer. Shenzhen-based Tencent is buying about 478.5 million shares from existing shareholders at 8.81 yuan apiece, Yonghui said in a filing to the Shanghai stock exchange. The price …

Bloomberg The first phase of Brexit talks is done. Now comes the hard part. UK Prime Minister Theresa May has secured agreement from the European Union to move on from discussing the divorce terms to mapping out a plan for the future trade relationship. Before that, she wants to nail down a transition deal as soon as possible. This is …

Bloomberg BMW AG’s needs for car-battery raw materials such as cobalt and lithium will surge 10-fold by the middle of the next decade, pushing the German carmaker increasingly to forge long-term deals as shortages loom. Purchase contracts with five- to 10-year time frames are close to being completed, the manufacturer’s head of procurement told reporters in Munich. Concerns about supply …