Bloomberg GoTo Group’s post-IPO stock selloff makes it the worst performer among 11 tech and internet companies that raised more than $500 million in inaugural share sales this year. Shares of the Indonesian startup provider of food delivery services to fintech solutions are falling for a 10th straight session, taking losses since listing to 61%. The recent slide was triggered ...

  Bloomberg The Chinese Grand Prix will not take place in 2023 given the “ongoing difficulties stemming from Covid-19 situation,” Formula 1 says in a tweet. Formula 1 is assessing alternative options to replace the slot on the 2023 calendar and will provide an update in due course, the organisation said in a statement available on its website. The Covid-19 ...

  Bloomberg A Vietnamese internet startup that’s successfully defended its home market of 100 million people against global giants like Facebook is now going into attack mode. VNG Corp, Vietnam’s answer to Tencent Holdings Ltd with games, messaging, videos and music among its services, is accelerating its international expansion, co-founder Le Hong Minh said in an interview at its headquarters ...

Bloomberg Secretary of Defense Lloyd Austin said the US is building a more lethal force posture in the Indo-Pacific as part of efforts to make sure China doesn’t dominate the region the way it intends to. China is “the only country with both the will and, increasingly, the power to reshape its region and the international order to suit its ...

Bloomberg The UK government could use the military to help ease any disruption caused by public sector strikes, according to Conservative Party Chairman Nadhim Zahawi. If unions chase wage increases in line with or above inflation, “you will embed inflation for longer and hurt the most vulnerable,” Zahawi said on the “Sophy Ridge on Sunday” show on Sky News. The ...

Bloomberg Retiring Republican Senator Pat Toomey said Donald Trump’s influence on the party is diminishing “rapidly” and the former president has little chance of becoming the GOP presidential nominee in 2024. Trump has announced he’ll make another run for the presidency. But Republicans fell well short of expectations during last month’s midterm elections and those losses, along with Trump’s 2020 ...

  Bloomberg El Salvador President Nayib Bukele has deployed 10,000 security forces to confront the threat from gangs in a suburb of the capital, San Salvador. Soldiers and security agents surrounded the municipality of Soyapango to remove gang members in the area, according to a statement issued by the presidency. “8,500 soldiers and 1,500 agents have surrounded the city, while ...

Bloomberg Moscow will intensify its cyber efforts to pressure the sources of Ukraine’s military and political support both domestic and foreign, according to Microsoft Corp. In a post on the company’s “On the Issues” blog, Clint Watts, general manager of Microsoft’s digital threat analysis centre, urged customers to prepare for more Russian cyber attacks over the winter. “Russian military intelligence ...

Bloomberg The European Union (EU) should improve its state aid rules and consider more green-transition funding to offset possible distortions from the new US climate and tax law, said European Commission President Ursula von der Leyen. Her remarks came a day before the US-EU Trade and Technology Council ministerial meeting to be held at the University of Maryland, where the ...

  Bloomberg Across Wall Street, this year’s bleak expectations for banker bonuses are rapidly proving true, as a slump in dealmaking ends the industry’s war for talent and firms regain the upper hand in setting pay. JPMorgan Chase & Co, Bank of America Corp and Citigroup Inc are all weighing plans to cut bonus pools for their investment bankers by ...