Bloomberg Emami Group, an Indian conglomerate that runs businesses from cosmetics to a paper mill, has picked Arpwood Capital Ltd and Credit Suisse Group AG to manage the sale of its cement unit, people familiar with the matter said. The bankers will start reaching out to prospective buyers for Emami Cement Ltd, seeking a valuation of about $1 billion, one ...

Bloomberg Malaysia’s finance minister said the 2020 budget will take into account risk scenarios caused by the continuing US-China trade war even as the nation’s economy shows signs of resilience. “The government recognises the downside risk that exists from a slower global growth, especially when Malaysia’s top trade partners are experiencing an economic slowdown,” Lim Guan Eng said in a ...

Bloomberg Toyota Motor Corp is abandoning plans to make its Corolla compact car at a new factory it’s building in Alabama, choosing to manufacture a sport utility vehicle there instead. The decision to switch gears at the plant in Huntsville, Alabama, reflects the “changing market demands and a growing appetite for light trucks and SUVs which are achieving record sales,” ...

Bloomberg A full-fledged electric vehicle just made its debut in a market known for affordable, entry-level cars. South Korea’s Hyundai Motor Co launched its Kona SUV in India, where 3.4 million new cars and SUVs hit the roads last year, and is the only major market without a real electric vehicle. The vehicle will sell starting at $36,000 in the ...

Bloomberg France won’t back off from its planned tax on companies like Facebook Inc and Alphabet Inc’s Google even after the US suggested it may use trade tools against the levy. The French Senate passed a bill to impose a 3 percent tax on global tech companies with at least 750 million euros ($845 million) in worldwide revenue and digital ...

Bloomberg The US Justice Department is pursuing a criminal investigation into whether Johnson & Johnson lied to the public about the possible cancer risks of its talcum powder, people with knowledge of the matter said. The criminal probe, which hasn’t been reported previously, coincides with a regulatory investigation and civil claims by thousands of cancer patients that J&J’s Baby Powder ...

Bloomberg New York Governor Andrew Cuomo said the state transit agency must rid city subways of a growing homeless population. In a letter sent to the Metropolitan Transportation Authority’s (MTA) board of directors, Cuomo said they should confront the issue as part of a reorganisation plan the state legislature required last month. The MTA and the city police department have ...

Bloomberg A consortium led by General Electric Co and Power Construction Corp of China Ltd was officially awarded a contract for the Batoka Gorge Hydro Electric Scheme, which involves building a 2400 megawatt power station on the border of Zambia and Zimbabwe, the Zambezi River Authority said. Both Zambia and Zimbabwe are facing a power crisis as a drought has ...

Bloomberg Volkswagen AG’s “Love Bug” has been squashed by the SUV boom. The German automaker marked the end of production of the iconic Beetle at its plant in Puebla, Mexico, and wasted no time talking about what will take its place: a compact sport utility vehicle. It’ll be a beefed-up version of a model sold in China called Tharu and ...

Bloomberg The UK is in talks with the US and other allies about beefing up their military presence in the Persian Gulf to deal with the rising threat to shipping posed by Iran. Britain raised the threat level to 3 — the highest possible — for ships operating in the Gulf, according to a person with knowledge of the matter. ...