Bloomberg Tesla Inc.’s plan to build a $25,000 car within the next three years doesn’t seem to have fazed China’s most-promising electric vehicle startups, with executives at the Beijing Auto Show saying Elon Musk can bring it on. “It’s a good thing for us,” WM Motor Co. founder and Chief Executive Officer Freeman Shen said. “We are very happy Tesla ...

Bloomberg Netflix Inc. became the world’s largest subscription-streaming service by flooding the market with popular content that’s cheaper than the competition. Yet five years after it arrived in Africa, the US company is struggling to grow beyond the wealthiest segment of the population, held back by poverty, piracy and limited access to broadband. In a continent of more than a ...

Bloomberg Microsoft Corp. unveiled the cheapest-ever model of its Surface laptop, aiming to take a larger share of the lucrative notebook computer market by targeting students and budget shoppers. The Surface Laptop Go, starting at $549, is smaller and lighter than the company’s other notebooks and has a fingerprint scanner to log in. The device comes in three metallic finishes ...

Bloomberg Amazon.com Inc. ended development of its first big-budget video game Crucible, highlighting the online retailer’s continued struggle to make headway in the industry. “We didn’t see a healthy, sustainable future ahead of Crucible,” the company said in a blog post. The team working on the project will be moved to other upcoming games and customers will get refunds, it ...

ABU DHABI / WAM The Organisation of the Petroleum Exporting Countries (Opec), lauded the role played by the UAE within the organisation, stressing that the country has gained everyone’s respect, as it has helped establish understanding and agreement among Opec members in all matters related to the global oil market. In a report issued by the organisation on the occasion ...

Bloomberg With millions of Americans still sheltering in place and cooking their own meals, the grocery industry has been one of the few bright spots in an otherwise battered US economy. Unless, that is, you are Whole Foods Market, the upscale chain acquired three years ago by Amazon.com Inc. Trips to Whole Foods in September were down 25% from a ...

Bloomberg AirAsia X Bhd’s restructuring plan was met with bleak forecasts and ratings from analysts as well as a 10% drop in its share price, underscoring the daunting challenges that lie ahead for the grounded carrier. Public Investment Bank Bhd maintained its underperform rating and 1 sen price target on the airline, the long-haul arm of AirAsia Group Bhd. Max ...

Bloomberg Airbus is betting that its corporate-jet division won’t be as hard hit by the pandemic as commercial flights as the planemaker unveiled a business version of its A220 model. The aircraft will have three times more cabin space and cost about a third less to run than competing models, said Airbus, which took over the development of the plane ...

Bloomberg UK house prices rise at their strongest annual pace since 2016 last month as Britons’ changing work patterns and a tax reduction on purchases fanned a resurgence. Average house prices rise 7.3% in September from a year earlier to a record average of 249,870 pounds ($323,000), mortgage lender Halifax said on Wednesday. On the month alone, prices gained 1.6 ...

Bloomberg US equity futures rise after President Donald Trump called for a reduced group of stimulus measures. Euro-area bonds climbed before the region’s central bank president speaks. Food retailer Tesco Plc jumped when its earnings beat estimates. Ambu A/S surged after the maker of life-support equipment won a key US contract. The Stoxx Europe 600 Index fluctuated as insurers and ...