Bloomberg Doubts are beginning to gather around the pharmaceutical industry’s biggest-ever takeover after Bristol-Myers Squibb Co.’s second-largest shareholder said that it doesn’t favour a $74 billion takeover of Celgene Corp. Wellington Management Co., which manages about $1 trillion in assets, said in a news release that it “does not believe that the Celgene transaction is an attractive path” for broadening ...

Bloomberg Germany’s automotive industry will invest over 40 billion euros ($45 billion) in electric vehicles over the next three years to triple the number of models vying for buyers, the head of the VDA car industry association said. The plan is pivotal to reach ambitious goals in the European Union to reduce carbon dioxide emissions and requires the expansion of ...

Bloomberg HP Inc.’s shares declined as much as 13 percent after the company warned that sales for its high-margin printer supplies business would fall for the rest of the year, presenting a setback for its effort to boost profitability. HP printer supplies revenue will decline 3 percent for the rest of 2019, driven by weaker demand in Europe, the Middle ...

Bloomberg Fabio Schvartsman stepped down temporarily as chief executive officer of Vale SA as the world’s largest iron ore producer comes under increased government scrutiny for failing to prevent a second deadly burst of one of its hundreds of tailings dams in Brazil. “Even totally assured of my righteous ways and having fulfilled my duty, I request the board to ...

Bloomberg President Donald Trump’s pledge to his rural agricultural base to allow year-round sales of higher blends of ethanol is spurring differing opinions between two key federal agencies. US Agriculture Secretary Sonny Perdue told lawmakers in a House hearing that a final rule to allow widespread sales of those higher blends “won’t happen” by the summer-driving season following delays from ...

With the abrupt breakdown of the Hanoi summit, the diplomatic negotiations between the United States and North Korea got a reset, and that’s a good thing. If dialogue resumes, it will be on a firmer, more realistic basis. President Trump’s swoon for North Korean leader Kim Jong Un had worried many observers who feared the president would make a rushed, ...

Send out a search party for South Korea’s economy. Domestic activity is in a tough spot, but the Bank of Korea seems preoccupied with second-guessing the Federal Reserve and parsing any trade accord between the US and China. The central bank kept its benchmark interest rate at 1.75 percent on February 28, a non-step that was widely forecast. The flaw ...

Well, that’s a relief! Malaysian Finance Minister Lim Guan Eng says a global financial crisis-style recession isn’t likely today. “The January 2019 price decline was not caused by recession or any kind of weak demand … The same severe GDP contraction Malaysia suffered in 2009 is nowhere to be seen today.” Fantastic. But who says it’s the same? Throwing up ...

France’s Yellow Vest protest movement seems to be losing steam. Turnout is diminishing, public support is weakening, and anger has flared over anti-Semitism in its ranks. If the marchers are mostly staying home, though, the problems they identified haven’t gone away. In fact, they could define President Emmanuel Macron’s remaining time in office. The protesters first took to the streets ...

Sydney is a wonderful, modern town. But, over the past few days, all anyone here has wanted to talk to me about is that most 19th-century of industries: coal. It’s not hard to see why, after a startling report — quickly denied — that some Chinese ports had blocked shipments of Australian coal. The Australian dollar briefly tanked on the ...