Bloomberg Grab is opening its app to external developers and fellow startups, as the company that bought out Uber Technologies Inc. in Southeast Asia tries to build a WeChat-like super-app that encompasses everything from maps and payments to food delivery. The move underscores the Singapore-based company’s newfound ambition to become an “everyday super-app” that helps millions of users carry out ...

Bloomberg Xiaomi Corp. surged 14 percent a day after its disappointing debut, as investors began to pile into the world’s third-largest listed smartphone maker. The Chinese company surged to a high of HK$19.14 in early afternoon trading, well above its HK$17 initial public offering price, with roughly 347 million shares changing hands. While the stock fell 1.2 percent on debut ...

Bloomberg Tesla Inc. has reached a preliminary agreement with the Shanghai government to build a factory that’ll rival production from its lone US assembly plant, as Elon Musk takes his biggest step yet to expand overseas. The electric-car maker’s planned capacity for the factory is 500,000 vehicles a year, the Shanghai government said in statement. Bloomberg reported earlier that Musk, ...

Bloomberg Ping An Insurance (Group) Co., China’s largest insurer by market value, is considering a rival offer for plasma treatment provider China Biologic Products Holdings Inc., people familiar with the matter said. An arm of Ping An is in talks with other investors about a potential joint bid for Beijing-based China Biologic, according to the people, who asked not to ...

Bloomberg Vodafone Group Plc said it received approval from the Indian government to combine with Idea Cellular Ltd., a deal first announced 16 months ago. India’s Department of Telecommunication has approved the merger provided arrears amounting to as much as $1.1 billion are paid to the government, according to the department’s order seen by Bloomberg. The outstanding amount is for ...

Bloomberg Stocks rose and Treasuries fell as a lull in the trade war gave investors room to focus on the start of the earnings season. The S&P 500 Index gained for a fourth day, the longest streak since the beginning of June. PepsiCo Inc. jumped more than 3 percent after reporting better-than-forecast profit, bolstering optimism that Corporate America enjoyed a ...

Bloomberg At a time when emerging markets have been roughed up by trade tensions between the world’s biggest economies, the earnings picture in India is improving. That’s the message from Morgan Stanley as it expects companies in the S&P BSE Sensex to report a 23 percent increase in net income in the June quarter from a year earlier, with more ...

Bloomberg The natural gas industry is on a mission to prove it can keep up with the green energy industry, whose price reductions are starting to become a competitive threat to fossil fuels. Gas and oil producers have slashed overheads by a third since 2014 and are finding deeper reductions harder to come by, according to energy consultants Wood Mackenzie. ...

Bloomberg Canadian crude supplies may remain tight in the coming weeks as Suncor Energy Inc works to bring its massive Syncrude oil-sands operation back online, a process that the company said won’t be completed until September. Pipeline shipments from the facility, which went down last month after a transformer trip cut power to the plant, will be about 60 percent ...

Bloomberg Libya’s oil output will keep dropping day by day if major ports remain closed after clashes last month led to a political deadlock, the head of the country’s state energy producer said. “Today, production is 527,000 barrels a day, tomorrow it will be lower, and after tomorrow it will be even lower and everyday it will keep falling,” Mustafa ...