Bloomberg Steinhoff Africa Retail Ltd. shares fell after Tekkie Town head Bernard Mostert quit alongside fellow senior managers following a legal claim lodged against the retailer by the shoe chain’s founding shareholders. STAR, as Steinhoff Africa is known, has repeatedly said it shouldn’t be held liable for the claim by Tekkie Town founders led by Braam van Huyssteen, which relates ...

Bloomberg BYD Co. is building what would become the world’s largest vehicle-battery factory next year in an effort by the Chinese electric-car maker to increase capacity and help revive earnings growth. The plant will have an annual capacity of 24 gigawatt-hours when it is fully in use in 2019, enough to equip 1.2 million BYD Tang electric cars, according to ...

Bloomberg Malaysia’s police seized about $273 million of items that included Hermes International handbags, Rolex watches and cash in raids linked to former Prime Minister Najib Razak amid investigations into troubled state fund 1MDB. Luxury goods such as a 6.4 million ringgit diamond necklace, 51.3 million ringgit worth of Hermes bags and more than 200 sunglasses valued at 374,000 ringgit ...

Bloomberg Bilateral tariffs may reduce the value of US farm exports to China by about 40 percent, according to a report published by the Chinese Academy of Agricultural Sciences, a government think tank. US soybean, cotton, beef and cereal shipments to China may each drop by 50 percent in value, it said in a report published on its official WeChat ...

Bloomberg Hedge funds run by Christopher Hohn and Dinakar Singh accused one of India’s largest real estate developers of defrauding its foreign investors of at least $1.5 billion. “If we do nothing, we will largely bleed dry and get nothing back,” Singh, who heads Axon Capital, said at a gathering in New York of investors in a fund started by ...

Bloomberg Radisson Hospitality Inc. is plunging ahead with a plan to triple capacity in China over five years, despite its expectation that a looming trade war with the US will damp travel demand in the country. The chain controlled by China’s HNA Group Co., the aviation-to-hotels conglomerate, has 15 hotels in the country for a total 4,147 rooms, with 16 ...

Bloomberg China spent more than $48 billion across East Asia and the Pacific between 2000 and 2016 to reward countries that consume its products and support its foreign policy positions, a new report has found. Infrastructure investment dwarfed other arms of Chinese public diplomacy over the period, according to a study by US research lab AidData released on Wednesday, totalling ...

Bloomberg This is John Flannery’s General Electric Co. — and so far, Wall Street likes it. A year after being named chief executive officer, Flannery took the boldest steps yet to revamp the sinking corporate titan, unveiling plans to pull GE out of the health-care and oil markets. By slimming it down and reorienting around power, renewable energy and aviation, ...

Bloomberg The White House opted to take a less confrontational approach towards Chinese investments in the US as it pushes Congress to strengt-hen an existing review pro-cess rather than invoke a little-used law reserved for economic emergencies. President Donald Trump wants Congress to pass legislation to bolster the Committee on Foreign Investment in the US, or CFIUS, so it can ...

Bloomberg UK house-price growth has slowed to the weakest pace in five years, while London values are falling, according to Nationwide Building Society. The lender said the “subdued economic activity” and squeezed household budgets are keeping a lid on demand, and the national market is unlikely to see any change to the recent trend in the near term. Nationwide’s monthly ...