Bloomberg China sentenced Hu Huaibang, a former chairman of the nation’s biggest policy bank, to life imprisonment on charges of corruption, the second harsh punishment doled out this week in a sign President Xi Jinping is escalating a campaign to crack down on lawbreaking state officials. Hu was found guilty of taking bribes totaling 85.5 million yuan ($13 million) during …

Bloomberg A semiconductor shortage is pinching some of the world’s biggest auto manufacturers, costing Daimler AG, Nissan Motor Co., Honda Motor Co., Ford Motor Co. and Fiat Chrysler Automobiles NV production for a range of cars. Mercedes-Benz maker Daimler joined its German peer Volkswagen AG in announcing it’s affected by the industrywide supply bottleneck, without quantifying the impact. Honda said …

Bloomberg Hyundai Motor backed away from a statement confirming it is in talks with Apple Inc. on developing self-driving car that fuelled an $8 billion surge in the Korean automaker’s market value, saying instead that it received requests for potential cooperation from a number of companies. Revising its statement for the second time in a matter of hours, Hyundai said …