Bloomberg Prime minister Boris Johnson said Brexit offers the UK an opportunity for “renewal and change” as he called on the divided nation to pull together in an address ahead of its split with the European Union. “If we can get this right, I believe that with every month that goes by, we will grow in confidence not just at ...

Bloomberg India’s finance minister slashed taxes for individuals and widened budget deficit targets for the current and next fiscal years to help spur a slowing economy. The government will miss its deficit goals for a third year, pushing the shortfall to 3.8% of gross domestic product from a planned 3.3% in the year ending March, finance minister Nirmala Sitharaman said ...

Bloomberg A decline in South Korean exports worsened in January despite signs of green shoots in global trade as the Lunar New Year holiday reduced the number of working days at the end of the month. Exports shrank 6.1% from a year earlier, following a 5.2% drop in December, trade ministry data showed on Saturday. Economists had forecast an 8.6% ...

Bloomberg Apple Inc will close its corporate offices, stores and contact centres in mainland China through February 9, a move the company says comes out of an “abundance of caution and based on the latest advice from leading health experts.” The move comes as global companies with heavy Chinese footprints weigh how to respond to the threat of the spreading ...

Bloomberg Forget about clinging to hopes that China, the world’s largest car market, will recover from its unprecedented two-year slump anytime soon. Expectations were already bleak as the year began, with IHS Markit predicting a 10% drop in first quarter production. Now, the influential research firm sees a scenario in which the coronavirus spreading rapidly across the country triggers a ...

Bloomberg TikTok has tapped the head of a top lobbying group for internet companies to lead its Washington policy operations as it confronts mounting pressure in Washington over its ties to China. Michael Beckerman, the current president of the Internet Association, will be in charge of government relations for the popular music-video app, according to a company spokeswoman. TikTok, which ...

Bloomberg The UK has left the European Union (EU) after almost half a century of membership, setting the stage for 11 months of potentially fraught talks that will determine whether the two sides can avert a chaotic divorce. There were no bongs from Big Ben to mark the moment of Britain’s departure from the bloc, but prime minister Boris Johnson ...

Bloomberg President Donald Trump signed an executive order designed to combat the flow of foreign counterfeit goods sold on e-commerce platforms like the websites of Amazon, eBay and Walmart. The Department of Homeland Security will examine whether the US government is collecting enough fees to cover the cost of processing and inspecting parcels entering the US. It will also develop ...

Bloomberg The US lifted sanctions against a unit of China’s biggest shipping company that was accused of hauling Iranian crude in violation of American restrictions. According to a notice posted on the Treasury Department’s website in Washington, sanctions were removed. In September, restrictions were placed on the Dalian units of China COSCO Shipping Corp, sending freight rates soaring as traders ...

Slap a tariff on steel and you’re sure to roil markets. But behind the big headlines on trade sanctions are developments that might be just as momentous for the global economy: About 135 of the world’s countries are negotiating a radical change to the rules about where and how much multinational companies pay in taxes. The topic was the subject ...