Bloomberg Samsung Electronics Co. is upping its $8 billion bet on automotive technology, forming a separate business unit within Harman to house autonomous driving products and plowing $300 million into a new fund investing in startups in the space. The autonomous driving unit will compete on everything from driving algorithms to systems integration, Dinesh Paliwal, Harman’s chief executive officer, said ...

Bloomberg The small, popular drones flooding the commercial market are unlikely to cause severe head injuries if they fall out of the sky and strike people, a new study has concluded. The results are similar to findings earlier this year by researchers associated with the Federal Aviation Administration and offer more justification for opening the door to unmanned operations over ...

Bloomberg India’s foreign-exchange reserves rose past $400 billion for the first time ever, strengthening policy makers’ buffers ahead of an expected reduction in US stimulus. The stockpile stood at $400.7 billion on September 8, the Reserve Bank of India (RBI) said in a release. With the Federal Reserve set to shrink its balance sheet—details of which could be announced next ...

Bloomberg The pound climbed to the highest level against the dollar since just after Brexit vote and UK government bonds tumbled. Sterling surged past $1.36 after Vlieghe, considered a dovish voter, turned hawkish to tell a conference that the moment was approaching for a rate hike. The premium to hold call options on the pound relative to puts rose to ...

Bloomberg Governor Elvira Nabiullina really means it when she says the Bank of Russia will follow no predetermined course on rates. Its outlook will allow for pauses as well as cuts of 25 to 50 basis points, depending on forecasts and the situation with inflation and the economy, Nabiullina told reporters in Moscow. The governor spoke after the central bank ...

Bloomberg Bank of England (BOE) policy maker Gertjan Vlieghe, regarded as one of the more dovish members of Monetary Policy Committee, said that he may support raising interest rates in the near future. The pound extended its advance as he put himself among the majority of MPC members who this week said an increase in borrowing costs could be needed ...

Bloomberg As the European Central Bank prepares to slow its bond-buying program, policy makers are considering softening the blow by highlighting a related measure — the reinvestment of maturing debt. An average of 15 billion euros ($18 billion) a month of assets held under quantitative easing will mature next year, according to euro-area central bank officials who said the figure ...

Bloomberg Airbus SE’s newest wide-body jet lost more orders as Cathay Pacific Airways Ltd. switched a contract for six A350-1000s to the smaller -900 variant and deferred delivery of five more by a year. The model switch, announced by Asia’s biggest international carrier, follows a decision last week at United Airlines to swap on order for 35 A350-1000s to 45 ...

Bloomberg Chinese apparel manufacturer Fujian Septwolves Industry Co. and conglomerate Fosun International Ltd. and are among suitors vying for the $717 million luxury leather goods company Bally International AG, people with knowledge of the matter said. Bally has also drawn interest from Japanese trading firm Itochu Corp. as non-binding offers came in this week, said the people, who asked not ...

Bloomberg A Colombian pilots union voted in favour of a strike at Avianca Holdings SA, which the company argues is illegal. The ACDAC union says that its members include about 700 pilots that work for the company and won’t fly during the strike—slightly more than half of Avianca’s pilots. Avianca said Colombian laws forbid those offering essential services from striking, ...