Bloomberg HNA Group Co.’s scrapped initial public offering of its Swiss airline caterer dialed up the pressure for the embattled conglomerate as it seeks to raise about $16 billion during the first half of the year to reduce one of the biggest debt piles in corporate China. The IPO of Gategroup Holding AG would have raised between $917 million and ...

Bloomberg FIT Hon Teng Ltd., part of the contract manufacturing giant Foxconn Technology Group, agreed to buy Belkin International Inc. in the latest move by billionaire Terry Gou to expand in branded goods. FIT will pay $866 million in cash for Belkin, a maker of Wi-Fi routers, mobile device chargers and keyboards, the company said in a filing to the ...

Bloomberg General Motors Co. said it intends to file its South Korean unit for bankruptcy if its labor union fails to agree on a restructuring plan that needs to be outlined within the next four weeks, putting pressure on employees and the government to help it stay afloat in the country. Barry Engle, GM’s international chief, told union leaders that ...

Bloomberg Commercial land prices in Japan rose by the most in a decade last year, thanks to a years-long tourism boom and ultra-low lending rates. The average price of commercial land nationwide rose 1.9 percent, the most since 2008, the land ministry said. The average price outside the three biggest metropolitan areas rose 0.5 percent—the first gain in 26 years. ...

Bloomberg British employers have become reliant on European Union workers and are concerned about restrictions after Britain leaves the bloc next year, according to a government-commissioned study published. “Employers were fearful about what the future migration system might be,” the Migration Advisory Committee said in an interim report. “Many employers in lower-skilled sectors have built a business model in which ...

Bloomberg The new bosses of two of Europe’s largest drugmakers are pivoting in different directions, with GlaxoSmithKline Plc doubling down on consumer health as Novartis AG focusses on finding new prescription medicines. Glaxo CEO Emma Walmsley’s $13 billion deal for Novartis’s stake in a joint venture that includes Panadol pain relievers and Theraflu cold medicine comes only days after the ...

Bloomberg BMW AG will begin a car-subscription pilot in Tennessee next week, joining the ranks of automakers experimenting with new ownership models as ride hailing and smartphones upend traditional auto retailing. The service, called Access by BMW, will be offered by a local BMW dealership in Nashville starting from April 2, according to a person familiar with the company’s plans ...

Bloomberg Facebook Inc. CEO Mark Zuckerberg has said he will not appear before a UK parliamentary committee to give evidence in the wake of allegations that information on millions of its users was misused. Damian Collins, the head of the committee that is also investigating the impact of social media on recent elections, had invited Zuckerberg to answer for a ...

Bloomberg Germany is willing to offer the US concessions to stop President Donald Trump from slapping tariffs on European steel and aluminum, exposing a divide with France on how to avert a trade war. Germany is ready to discuss with the European Union in every respect measures to counter the US threat to impose tariffs, according to a government official ...

Economists like to say that no one wins in a trade war. We may soon find out if they’re right. Only hours after US President Donald Trump said he would slap tariffs on a range of Chinese products, China imposed punitive duties on some imports from the US in retaliation for previously announced US tariffs on steel and aluminum. And ...