Bloomberg SoftBank Group Corp. is rolling out a new app that will let drivers find and reserve parking spaces across Japan. The new service, called BLUU Smart Parking, will let drivers find open parking spots, reserve them in advance and pay fees using smartphones. Each location will have cameras and magnetic sensors to monitor cars as they enter and leave, …

Bloomberg It’s premature to regulate the self-driving vehicles being tested by companies such as General Motors Co. and Waymo LLC, the US government’s top auto safety official said. “At this point the technology is so nascent I don’t think it is appropriate today to regulate this technology,” Heidi King, deputy administrator of the National Highway Traffic Safety Administration (NHTSA), said. …

Bloomberg Snaking through Western Australia’s Outback, a driverless train has made the first autonomous delivery of iron ore from a Rio Tinto Group pit to a coastal port, as the No. 2 miner looks to reap the benefits from a $940 million plan deploying the world’s biggest robots. The maiden 280-kilometre journey was completed carrying a cargo of 28,000 metric …

Bloomberg Deutsche Bank AG became the latest foreign bank to be allowed to underwrite China’s corporate bonds as the government opens up the onshore debt market. The German bank has received approval from the National Association of Financial Market Institutional Investors, or NAFMII, to underwrite corporate bonds sold by both onshore and offshore issuers in the interbank market, it said …

Bloomberg Saudi Arabia’s sovereign wealth fund has started approaching banks for its first-ever loan, aiming to establish a group of banks with which it will work on future deals, reports said. The Public Investment Fund (PIF), has asked lenders to participate in a multi-billion dollar loan, the people said, asking not to be identified as the information is private. Lenders …

Bloomberg Bank of America Corp. (BofA) agreed to pay an undisclosed multimillion-dollar sum to settle claims of defamation brought by former executive Omeed Malik, who was fired by the bank earlier this year, according to a person familiar with the matter. The settlement comes in response to a claim Malik brought in April, said the person, who asked not to …

Bloomberg Punjab National Bank that saw its earnings wiped out by an unprecedented fraud aims to report the nation’s biggest bank profit by selling some assets, according to people familiar with the matter. Punjab National Bank (PNB) is targeting net income of more than ₹5,000 crore ($730 million) for the three months through September 30, boosted by asset sales and …

Bloomberg A reluctance by banks in Ghana to lend is threatening to stall one of Africa’s fastest expanding economies. With almost a quarter of all outstanding loans in the country at risk of not being repaid, credit granted to the private sector is increasing at nearly the slowest pace in four years. At stake is the 6.8 percent growth that …

Bloomberg Pakistan’s central bank has increased the amount of red tape needed to access dollars, according to people with knowledge of the matter, as the nation’s foreign-exchange reserves drop at the fastest pace in Asia. The State Bank of Pakistan has told banks after a currency devaluation last month that importers will need to inform the regulator of any requests …

Bloomberg Bombardier Inc. is flying high — and analysts from Goldman Sachs Group Inc. to AltaCorp Capital Inc. say the rally has plenty of room to continue. The Canadian planemaker is heading for its biggest annual stock gain in almost three decades, only two years after its shares dipped below C$1. The private-jet market is rebounding just in time for …