Bloomberg There’s a new owner of the Brooklyn Nets. Alibaba Group Holding Ltd. Executive Vice Chairman Joe Tsai exercised his option to buy the rest of the team that he didn’t already control — along with the Barclays Center arena — ending Mikhail Prokhorov’s ownership tenure and bringing another deep-pocketed international presence to the National Basketball Association. Financial terms weren’t ...

Bloomberg Pakistan’s Power Cement Ltd. has suspended almost a third of its output as demand and prices fall amid an economic downturn and higher costs bite. The second largest producer in the country’s south has shut about 3,150 tons per day of old, high-cost production capacity after market conditions rendered them unviable. Newer lines accounting for 7,700 tons remain operational. ...

Bloomberg Australia’s labour market surged in July, adding almost three times the forecast number of jobs, while unemployment remained stuck at 5.2% as the workforce swelled to a fresh record. The economy added 41,100 roles from the previous month, with more than three-quarters of them full-time, the statistics bureau said in Sydney. Economists had forecast a gain of just 14,000. ...