Bloomberg The car industry is witnessing one of its biggest disruptions since Karl Benz assembled the first automobile more than a century ago, and Li Shufu wants to play an active part in the revolution. The founder and chairman of Zhejiang Geely Holding Group Co. has become the top shareholder in Daimler AG, the German company that traces its roots ...

Bloomberg Go East, expatriates looking to make the big bucks. Mumbai, India’s financial, commercial and entertainment capital, tops global rankings for expat salaries, according to a survey conducted by HSBC Bank International Ltd. Foreigners moving to the subcontinent’s most populous city reported average annual earnings of $217,165. That’s more than double the global expat average of $99,903, the HSBC Expat ...

Bloomberg Hinduja Group India Ltd., owned by the billionaire Hinduja brothers, is considering buying a majority stake in state-owned MauBank Ltd. of Mauritius, according to two people with knowledge of the matter. Selling control of MauBank would enable the Mauritian government to recoup some of the money its used to bail out the lender. The state has spent $182 million ...

Bloomberg United Parcel Service (UPS) Inc. is suing the European Union for 1.7 billion euros ($2.1 billion) in compensation for the damage it says it suffered when regulators wrongly vetoed its attempted takeover of parcel delivery rival TNT Express NV. UPS is asking the EU’s General Court to award it compensation plus interest and taxes it would pay on any ...

Bloomberg General Electric Co.’s boss wants investors to know that all the negative headlines dogging the manufacturer don’t tell the whole story. The company is already changing for the better after “a very tough year,” CEO John Flannery plans to say in an upcoming letter to shareholders. GE is rethinking its structure, cutting costs and enhancing management accountability. It’s also ...

Bloomberg The European Union may consider the UK Labour Party’s idea of the country remaining in a customs union after Brexit acceptable—but it would come with conditions attached. The opposition party’s plan, set out by leader Jeremy Corbyn in a speech on Monday, heaps pressure on Prime Minister Theresa May who has ruled out such a move and whose Brexit ...

Bloomberg Carillion Plc’s former finance director sold shares in the UK construction company worth about $1.1 million months before it imploded, according to parliamentary committees. Richard Adam cashed in shares for 534,000 pounds in March 2017, less than three months after he retired, and then sold long-term incentive awards in May 2017 on the day they vested for 242,000 pounds, ...

Bloomberg As WeWork Cos. has grown to 200 buildings across the globe, the company said its increased size is helping cut costs for everyday needs like glass, wood flooring, aluminum and light fixtures. Early signs of financial improvement are encouraging for a co-working business that critics say is overvalued and spends with abandon. The New York-based startup generated about $900 ...

Bloomberg The US Supreme Court rejected a Trump administration appeal aimed at ending deportation protections for young undocumented immigrants, steering clear for now of the debate over the fate of hundreds of thousands of people. The justices, without published dissent, turned away the administration’s appeal of a ruling that has kept the Obama-era program in place. The rejection buys time ...

Bloomberg President Donald Trump said it may be “very, very unfortunate” for the world if US sanctions fail to stop North Korea’s nuclear weapons program, as he imposed the largest US penalties package yet against the rogue regime. “Phase 2 might be a very rough thing,” if the sanctions don’t succeed, Trump added at a joint press conference with Australian ...