Bloomberg NIO Inc reported a worse-than-expected quarterly loss, prompting the struggling Chinese electric-vehicle maker to pursue thousands of job cuts by the end of this month and the spinoff of some businesses by year-end. Second-quarter net losses widened 83 percent from a year earlier to about 3.3 billion yuan ($463 million), according to a statement on Tuesday. The figures were ...

Bloomberg Activity in Japan’s manufacturing sector contracted at the fastest clip in seven months in September, according to the latest PMI data, as US-China trade tensions continued to cloud the global outlook. The Jibun Bank Purchasing Managers Index fell to 48.9 from 49.3 in August, matching the lowest reading since 2016. The latest release comes with the Bank of Japan ...

Bloomberg Xiaomi Corp introduced its first phones compatible with the latest, fifth-generation cellular technology in China, as the country’s once-biggest smartphone maker prepares for an uphill battle against domestic rival Huawei Technologies Co. At an event in Beijing, billionaire co-founder Lei Jun introduced the 5G-capable Mi 9 Pro, the latest of Xiaomi’s classic product line, and gave the world a ...

Bloomberg Indonesia’s economy is projected to expand at its fastest pace in seven years in 2020, despite the deteriorating global outlook and rising risks of recession abroad. The economy is forecast to grow 5.3 percent next year, according to the Indonesian parliament. Coming after the government twice revised down its growth forecast for this year, it would mark Indonesia’s fastest ...

What happens on Hong Kong Island does not stay there. The ongoing tsunami of discontent washes over this island, which, like Hong Kong, is navigating the choppy waters of relations with the same large and menacing mainland neighbour. This nation — which is such psychologically, if not in diplomatic nomenclature — has a presidential election in January that seems certain ...

In his new book on how to fix inequality, French economist Thomas Piketty may have gone a little too far with a call for a 90% wealth tax for billionaires and multimillionaires, but putting a tax on huge fortunes may well make sense. Bill Gates, the second richest man in the world, thinks so. His case makes it clear why ...

In some ways President Donald Trump’s new national security adviser, Robert O’Brien, seems like the opposite of the man he will replace, John Bolton. His current job in government is special envoy for hostage affairs, meaning he has had to negotiate with the sorts of rogues Bolton shunned. Earlier this year he negotiated the release of US citizen Danny Burch ...

The real impact of the attack on Saudi oil installations last weekend goes well beyond the temporary loss of 5% of global oil production: It strikes at the heart of the mechanism that’s guaranteed the security of the world’s crude supply for most of the past 50 years. Ever since the western oil majors lost control of output in the ...

With flashing red eyes and a swivelling head, Yuuji Ohta’s robot wolf bares its white canines and lets out an array of ghastly growls. A matted coat of brown synthetic fur covers its life-size body. This futuristic creature is part of everyday life for Ohta, president of a company that manufactures machine tools in rural northern Japan. While he started ...

Post-vacation blues don’t come much grimmer than this. No one was expecting a particularly bright future for Thomas Cook Group Plc, the UK package-holiday company that filed for administration in the early hours of Monday morning. The way the business came crashing to earth, however, is shocking. Rather than entering insolvency proceedings and attempting to salvage a remnant of the ...