Bloomberg Alibaba Group Holding Ltd has bought a third of Ant Financial, the online financial services behemoth controlled by billionaire Jack Ma, augmenting a global array of investments now worth $83 billion. The Chinese e-commerce leader has closed the acquisition of 33 percent of newly issued equity in Ant, a long-gestating deal that cements ties between two of the country’s ...

Bloomberg NIO Inc reported a worse-than-expected quarterly loss, prompting the struggling Chinese electric-vehicle maker to pursue thousands of job cuts by the end of this month and the spinoff of some businesses by year-end. Second-quarter net losses widened 83 percent from a year earlier to about 3.3 billion yuan ($463 million), according to a statement on Tuesday. The figures were ...

Bloomberg Activity in Japan’s manufacturing sector contracted at the fastest clip in seven months in September, according to the latest PMI data, as US-China trade tensions continued to cloud the global outlook. The Jibun Bank Purchasing Managers Index fell to 48.9 from 49.3 in August, matching the lowest reading since 2016. The latest release comes with the Bank of Japan ...