Bloomberg Initially investors celebrated a robust quarter from Alphabet Inc., driven by strong sales growth. Then they spotted a red flag: rising costs that could crimp margins going forward. The Google division generated most of the quarter’s revenue but paid out 22 percent of its $22.67 billion in sales in so-called traffic acquisition costs or TAC — payments to partners …

Bloomberg President Donald Trump said the US and the UK are working on a potentially “big and exciting” trade deal and the relationship between the two countries is going to be “even better” after Brexit. Trump’s comments, made in tweets late on Monday and on Tuesday, came as UK Trade Secretary Liam Fox was in Washington to pave the way …

Bloomberg UK factory production reached a two-decade high last quarter as optimism about export orders swelled to the highest since the 1970s. A Confederation of British Industry survey showed the volume of output rapidly grew in the three months to July, with the CBI index reaching its strongest reading since 1995. Factories are “upbeat in their expectations for overall demand …