Bloomberg Australia on Tuesday signed a mega deal to purchase a fleet of next-generation submarines from France, with Prime Minister Malcolm Turnbull hailing the vessels’ “cutting-edge technology”. French Defence Minister Jean-Yves Le Drian inked the inter-governmental agreement (IGA) in Adelaide that will see French shipbuilder DCNS design and build the Shortfin Barracudas. The total cost of the 12 submarines, …

  Bloomberg Even as Uber Technologies Inc. exited China, the company’s financial loss has remained eye-popping. In the first nine months of this year, the ride-hailing company lost significantly more than $2.2 billion, according to a person familiar with the matter. In the third quarter, Uber lost more than $800 million, not including its Chinese operation. At the same time, …

  Bloomberg A lawsuit filed by Alibaba Group Holding Ltd. is shining a light on the fake reviews and purchases on its websites. China’s biggest e-commerce operator sued Shatui.com, which allegedly links merchants with people willing to falsify purchases and write positive comments that can drive sellers up Alibaba’s rankings. The suit in Hangzhou West Lake District People’s Court is …