Bloomberg Angela Merkel’s Christian Democratic Union plans to meet in January as the party prepares to select the leader who will take it into next year’s elections. Three candidates are competing for prime position to replace Merkel, who will step down as chancellor after 16 years running Europe’s largest economy. Germany’s ruling party had originally planned to stage an in-person ...

Bloomberg UK Prime Minister Boris Johnson said he was extending the government’s wage support program as part of a new partial four-week lockdown for England and offered home owners more financial reprieve. Under the package announced by the prime minister, state payments will be made to furloughed workers of as much as 80% of their wages through the new lockdown ...

Bloomberg Germany will do “everything necessary” to help cushion the impact of the coronavirus on businesses as the government moves to introduce a partial lockdown on Monday, Chancellor Angela Merkel said. Merkel will meet with industry representatives on Wednesday to discuss how to further help them to ease the burden of coping with the coronavirus. “I assure you, the government ...

Bloomberg Apple Inc. warned investors that the company’s financial results would be hurt if the amount paid from App Store downloads and subscriptions is reduced or eliminated. The warning in a regulatory filing came amid criticism from lawmakers and others about the cut of as much as 30% that Apple takes from third-party developers selling software through the App Store ...

Bloomberg Fortress Investment Group is postponing its plan to build a train to Las Vegas from Southern California after failing to sell a record amount of unrated municipal debt to finance the speculative project, showing the limits of investor appetite amid an economic downturn. Since the end of September, Fortress, through its company Brightline Holdings, had been marketing $3.2 billion ...

Bloomberg Rolls-Royce Holdings Plc has hired Deloitte to conduct the sale of its diesel and gas engine division Bergen, which could fetch up to 100 million pounds ($129 million), the Sunday Telegraph reported. Germany’s MAN SE and Finland’s Wartsila Oyj could be potential buyers and a sale is expected early next year, according to the report, which didn’t say where ...

Bloomberg Brazil’s Pantanal wetlands, a fragile cradle of endangered species, burned at the fastest rate for the month of October since record keeping started in 1998, further damaging the country’s environmental credentials. At least 2,846 fire spots have been registered this month in the biome, surpassing a previous 2002 record, according to data from Brazil’s Spacial Research Institute, known as ...

Bloomberg Ant Group Co.’s highly-anticipated initial public offering in Shanghai is set to intensify rivalry between the bourse and its competitor Shenzhen, as both aim for the top spot in China’s $9.9 trillion equity market. The megacities house two of the world’s largest 10 stock-exchange operators, and have for decades jostled to become the go-to destination for firms wanting to ...

Bloomberg A slowing pace of virus infections and optimism over China’s economic recovery is burnishing the appeal of Asian stocks for some money managers as volatility in global markets jumps ahead of next week’s US vote. GAM Investment Management, Robeco Hong Kong Ltd. and Nordea Investment Funds SA see regional shares extending October’s gains, regardless of who wins the election. ...

Bloomberg Oil posted its largest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery. Futures fall 1.1% in New York to end the week below $36 a barrel taking their cue from a broader market selloff and the worst week for US stocks since March. At the same time, the ...