Bloomberg Norway’s domestic wealth fund has become so big that it’s looking for ways to get rid of excess cash by proposing some key changes to its investment model. The Government Pension Fund Norway is the domestic counterpart of the country’s better-known sovereign wealth fund, the world’s largest of its kind with $1.1 trillion in assets. Unlike its bigger sibling, ...

Bloomberg Egypt signed off on Uber Technologies Inc’s acquisition of ride-hailing peer Careem Inc after setting price caps and other measures designed to keep the local market competitive. The decision was made after studying data on 270 million trips as well as Egyptian and international precedents, the Egyptian Competition Authority said on Sunday. Any raising of passenger prices has to ...

Bloomberg Taiyo Yuden Co, a Japanese maker of ceramic capacitors used in smartphones, sees increasing demand for its components next year as China pushes ahead with the fifth generation of cellular technology. “We’re already getting orders for 5G base stations,” Chief Executive Officer Shoichi Tosaka said in an interview. “Early next year we should start seeing 5G-related orders for smartphones.” ...

Bloomberg Apple Inc is likely to continue outperforming its mega-cap tech peers next year, according to Loup Ventures, which wrote that the iPhone maker could chase its 80%-plus rally in 2019 with another 20% gain in 2020. Analyst Gene Munster cited a number of tailwinds for the shares over the coming 12 months, including continued growth for the Apple Watch ...

Bloomberg Protesters in Hong Kong continued to target shopping malls in the city, harassing mainland Chinese and clashing with police, who used pepper spray on demonstrators. At least 14 people were detained at a mall in the Sheung Shui district near the Chinese border, government-backed broadcaster RTHK reported. The anti-government protesters singled out mainland Chinese shoppers, who locals blame for ...

Bloomberg Tens of thousands of holiday-makers and residents are being urged to evacuate a popular tourist spot in southeast Australia as a heatwave sweeping through the region threatens to escalate wildfires. In a televised appeal on Sunday, Victoria state’s Emergency Management Commissioner Andrew Crisp called on about 30,000 people vacationing around Lakes Entrance in the East Gippsland region to leave ...

Bloomberg Former Vice President Joe Biden clarified his position on a suggestion he wouldn’t comply with a potential subpoena to testify at President Donald Trump’s impeachment trial in the Senate. “I have always complied with a lawful order and in my eight years as VP, my office — unlike Donald Trump and Mike Pence — cooperated with legitimate congressional oversight ...

Bloomberg Typhoon Phanfone killed at least 41 people when it slammed into the central Philippines on Christmas Eve, with dozens still injured or missing, according to the agency which oversees disaster response. The 21st cyclone to hit the Southeast Asian nation this year also damaged an estimated 1 billion pesos ($19.7 million) worth of crops and infrastructure, including more than ...

Bloomberg The race to succeed Jeremy Corbyn is exacerbating divisions in the UK’s main opposition Labour Party, as former members of Parliament who lost seats this month demanded an “unflinching” review into why the leader’s message had proved such a turnoff among voters. “We need to be honest about why our outgoing leadership’s reflexive anti-Western world view was so unpopular, ...

Bloomberg Hong Kong’s economy is set to contract in the fourth quarter as the city reels from six months of violent social unrest, the financial chief said on Sunday. “Based on the situation of these few months, it is inevitable that negative growth will continue,” Financial Secretary Paul Chan said in a blog post. “This means the government will be ...