Bloomberg China responded to Donald Trump’s tariff threat with another escalation of the trade war on Monday, letting the yuan tumble to the weakest level in more than a decade and asking state-owned companies to suspend imports of US agricultural products. The moves are likely to further antagonise Trump, who has criticised Beijing for managing its currency unfairly and failing ...

Bloomberg Top Japanese companies including Sony Corp., Ricoh Co. and Asics Corp. are orchestrating shifts in production away from China, joining manufacturers from other countries seeking to sidestep US tariffs. Sony said last week that trade-war levies may cause it to raise prices or move production of PlayStation consoles, cameras and projectors outside of China, steps that could affect profit ...

Bloomberg UK government bonds rallied, driving benchmark yields to a record low, as global risk sentiment worsened and speculation swirled that the nation’s new Prime Minister is preparing for a general election. Ten-year gilt yields slipped below 0.5% for the first time on a potential increase in UK political uncertainty, with Premier Boris Johnson’s spending plans fueling speculation about a ...

Bloomberg Facebook Inc. plans to attach its name to Instagram and WhatsApp, branding them “Instagram from Facebook” and “WhatsApp from Facebook.” The move is controversial because both of the apps were born outside of Facebook, have very different corporate cultures and have thrived, in part, by having their own identities with consumers. Founders of the photo-sharing app and the messaging ...

Bloomberg Russia is acting on a pledge by President Vladimir Putin to shrink the role of dollar in international trade as tensions sour between Washington and Moscow. The shift is part of a strategy to “de-dollarize” the Russian economy and lower its vulnerability to the ongoing threat of US sanctions. But while the central bank was able to quickly dump ...

Bloomberg Economic activity in the euro area’s private sector weakened further as still-solid services couldn’t make up for rapidly deteriorating manufacturing. A composite Purchasing Managers’ Index (PMI) dropped to 51.5 in July, with goods output falling for a sixth months and at the greatest extent since 2013. “The service sector continued to sustain the expansion of the overall euro-zone economy ...

Bloomberg As China turns its back on American ethanol in a lingering trade spat, Brazil is considering opening its doors to US biofuel. Brazilian authorities are debating whether to yield to Washington’s request to lift ethanol-import duties as a way of facilitating talks for a bilateral trade deal with the US. A broad trade accord would benefit many Brazilian products ...

Bloomberg High ranking officials in the Trump administration are still pushing to bail out money-losing coal plants, more than a year after an earlier proposal to revive the industry failed. Any new effort to save coal plants may find a friend in Kentucky Republican Neil Chatterjee, now chairman of the Federal Energy Regulatory Commission, the very agency that rejected the ...

Bloomberg East Capital Group, a Swedish asset manager that specialises in emerging markets, is looking for more takeover targets after buying a $3.4 billion manager in its local market. The Monyx Asset Management AB purchase, which was closed this month, reflects a consolidation trend in the industry as smaller managers struggle, according to East Capital Chairman Peter Elam Hakansson, who ...

Bloomberg India has revoked the special constitutional status of Kashmir in a move that’s drawn protests in parliament and risks worsening its already fraught security relationship with rival Pakistan in the disputed region. It took Prime Minister Narendra Modi’s government just a couple of hours to erase seven decades of autonomous state government in Kashmir, which analysts say is aimed ...