Bloomberg Prosecutors demanded a 12-year jail term for Lee Jae-yong, accusing the billionaire vice chairman of Samsung Electronics Co. of bribing a presidential confidante to increase his control over the world’s biggest maker of smartphones and memory chips. Lee has been in detention since February and is the highest-profile business figure drawn into a scandal that led to the ouster …

Bloomberg Living in the world’s most-expensive property market means having to set aside more than half your income as mortgage payments. Hong Kong’s mortgage-payment-to-income ratio rose to 54.2 percent in June, the highest since 1998, figures from Centaline Property Agency show. The low affordability is a result of the steep rise in home prices, which have kept soaring despite efforts …

Bloomberg Samsung Electronics Co. is introducing a new model for its Galaxy S8 smartphone line featuring a metal frame, larger battery and shatter-resistant screen. The Galaxy S8 Active, which the South Korean company says has passed military specification testing, is geared toward users in environments such as extreme outdoor sporting events and construction sites, where a standard device may succumb …