Bloomberg The Chinese central bank’s branch in Shenzhen ordered almost a dozen companies operating in the technology hub to rectify illegal activities related to cryptocurrencies, signalling an intensifying crackdown on digital assets. The People’s Bank of China’s (PBOC) Shenzhen branch started a “rectification project” targeting illegal trading of virtual currencies and “cleaned up” 11 firms allegedly involved in illegal activities ...

Bloomberg Ford Motor Co.’s Lincoln luxury division is updating the cash-cow Navigator SUV with hands-free driving technology and refreshing the styling. But the automaker isn’t adding a feature it has been touting lately —electric power. With new competition coming from the updated Jeep Grand Wagoneer, Lincoln is giving its flagship vehicle a reboot, adding creature comforts like second-row seats that ...

Bloomberg Google’s latest entry-level 5G smartphone will offer a larger screen, water resistance and a bigger battery as the company tries to woo budget-minded shoppers and increase its modest market share. The $449 Pixel 5a costs $50 less than last year’s Pixel 4a 5G with a limited update of features and a small downgrade in 5G standards support. It’s still ...

Bloomberg Tencent Holding Ltd.’s revenue increased at its slowest pace since 2019 after China’s expanding tech crackdown hit its mobile gaming empire, overshadowing newer businesses from cloud to social ads. Beijing’s months-long crackdown has ignited a trillion-dollar selloff in Chinese equities, up-ended online education and also pumped the brakes on growth across a swath of industries from advertising to car-sharing. ...

Bloomberg General Motors Co (GM) is recalling more than 73,000 of its Bolt electric vehicles at a cost of $1 billion due to the risk of their batteries catching fire. The recall is an expansion of a similar action the company took last month when it discovered a defect in battery that powers the EV. The move covers all Bolt EVs ...

Bloomberg Nissan Motor Co debuted the latest edition of its Z series coupe in New York, marking the seventh generation of a sports-car line that was introduced in 1969 as the Fairlady Z in Japan and the Datsun 240Z in the US. The new Z is the first refresh of the two-door platform in over a decade and will be ...

Bloomberg Global trade in goods might be close to plateauing — albeit at a record level — amid an outlook clouded by regional imbalances and coronavirus outbreaks that slow economic activity, the World Trade Organisation (WTO) said. The Geneva-based trade body’s goods trade barometer rises to 110.4 in March, the highest in records going back to 2016, according to a ...

Bloomberg Oil snapped a run of declines as a US industry report pointed to a drop in domestic crude stockpiles. West Texas Intermediate rises 0.5% after a four-day losing run that was the longest since March. The American Petroleum Institute reported that crude inventories fell 1.16 million barrels last week, including a draw at the key storage hub in Cushing, ...

Bloomberg Walmart Inc’s pandemic-driven gains in e-commerce slowed last quarter and profit margin fell, raising questions about the retailer’s ability to maintain momentum even after it topped Wall Street’s sales expectations. The company’s US online sales rose 6% in the second quarter, the company said in a statement. That was down from earlier in the pandemic, when soaring e-commerce demand ...

Bloomberg US transportation and health agencies are extending the mask mandate for air passengers and other travellers until mid-January as the Delta variant of Covid-19 continues to surge. The sometimes controversial requirement for people to cover their faces on public forms of transportation had been set to expire on September 13. The Transportation Security Administration (TSA) said in an emailed ...