Bloomberg The European Union signaled Prime Minister Theresa May must first strike a deal for the UK’s post-Brexit trade ties with the bloc or lose out on a transitional phase that banks and businesses want. As both sides prepare to face off in the new year, Michel Barnier, the EU’s chief negotiator, told reporters in Brussels on Tuesday that …

  Bloomberg The US trade deficit widened to a four-month high in October as overseas sales weakened and American companies imported more equipment and consumer goods. The gap grew to $42.6 billion from the prior month’s revised $36.2 billion, Commerce Department figures showed on Tuesday. The 17.8 percent increase from September was the largest since March 2015. The Bloomberg survey …

  Copenhagen / AFP Danish toy maker Lego announced a management shake-up to develop the brand beyond its iconic plastic bricks under the leadership of its veteran chief who brought the company back from the brink of bankruptcy. Chief executive Jorgen Vig Knudstorp took over Lego when it was on verge of collapse in 2004 and transformed it into one …