Bloomberg European Union chief negotiator Michel Barnier raised the prospect of Brexit talks failing to reach a breakthrough by year-end, saying the UK has two weeks to come up with a better offer on the financial settlement. Barnier called for “real and sincere progress” on the three divorce issues, which include the separation bill, the rights of EU citizens and ...

Bloomberg Lyft Inc. has gained significant ground on its rival, Uber Technologies Inc., and is expected to grab more market share in the US, according to a private Lyft investor document obtained by Bloomberg. A major investor is projecting Lyft will have boosted its share of US ride-hailing business some 61 percent by the end of the year, climbing to ...

Bloomberg Uber Technologies Inc lost an appeal over whether it should pay overtime and give vacation time to its drivers, a ruling that heaps yet more pressure on the ride-sharing company in one of its most mature markets. The original decision that gave UK drivers the right to more benefits was “neither inconsistent nor perverse,” Judge Jennifer Eady said. The ...

Bloomberg The deadliest mass shooting in modern US history is adding to soaring costs for insurance companies, which are already taking a beating this year from an onslaught of hurricanes, earthquakes and wildfires. The industry may have to shell out more than $1 billion for the Las Vegas massacre, insurance executives say. Acts of a solo gunman, who killed almost ...

Bloomberg A blockbuster Pacific trade pact abandoned by US President Donald Trump has edged closer to becoming reality after days of tense talks in Vietnam. Japanese Economy Minister Toshimitsu Motegi said the 11 remaining members of the Trans-Pacific Partnership had secured a framework agreement on how to salvage the deal. Canada, which had held out for a day on signing ...

Bloomberg Chinese President Xi Jinping and US President Donald Trump laid down starkly contrasting visions for Asia’s future, with Xi pledging a new era of globalization propelled by his nation’s economic might as Trump offe-red America’s largess only to those who play by his rules. In back-to-back speeches to business leaders at the Asia-Pacific Economic Cooperation summit in Vietnam, Xi ...

Bloomberg The future of the Irish border erupted unexpectedly into Brexit talks this week, as the European Union made new demands on Britain that risk distracting from efforts to reach a breakthrough by year-end. The EU circulated a document to diplomats that called for Northern Ireland to maintain the rules of the customs union and single market after Brexit. It ...

Bloomberg Former Zimbabwean Vice President Emmerson Mnangagwa fled the southern African nation because of “incessant threats” against him and his family two days after he was fired by President Robert Mugabe. Mnangagwa said in a statement that he never planned to harm Mugabe, who he’s been supporting for more than four decades, and pledged to work to establish a “new ...

Bloomberg Slovenian President Borut Pahor has one obstacle on his path to re-election: a comedian-turned-mayor who vows to shake up the political establishment and replace the head of the central bank. Pahor, a former Social Democrat prime minister, is set to win Sunday’s runoff with more than 56 percent of vote, a poll by Episcenter conducted for the Delo newspaper ...

“Do we have any historical evidence that lowering tax rates, particularly among the richest strata, generates economic growth, as the Republicans always predict? Has this ever worked?” —A reader The answer is ‘no.’ As Congress tackles “tax reform,” we really don’t have conclusive historical evidence of the relationship between tax rates and economic growth. To be sure, studies abound, but ...