Bloomberg Billionaire Li Ka-shing’s CK Hutchison Holdings Ltd. and Jack Ma’s Ant Financial unit will form a joint venture to offer a digital wallet service in Hong Kong. The wallet will come under the AlipayHK brand which was already launched in May, CK Hutchison said. The mobile app will allow users to make in-store payments in 4,000 retail outlets and …

Bloomberg Nike Inc.’s US business continued to sputter last quarter, putting more pressure on its operations in Asia and Latin America to pick up the slack. The world’s biggest sportswear maker relied on strong overseas growth—especially in China—to overcome a weakening US business and help it post first-quarter profit that topped estimates. The company also cited a move to streamline …

­­­­­­­­­­­Bloomberg Alstom SA’s merger with the train-making arm of Siemens AG will mark the end of a bitter rivalry as the European rail industry’s biggest adversaries unite in an effort to fend off the challenge from China and Japan. The ill-tempered contest between Alstom and Siemens has been a feature of the sector for decades and reached boiling point in …