Bloomberg China plans to start regulating large conglomerates that may pose systemic risks to the nation’s financial sector. Certain non-financial firms or individuals with businesses that straddle at least two financial industries will be classified as “financial holding companies” and will need licenses from the People’s Bank of China to operate, the regulator said in proposals. If adopted, the rules ...

Bloomberg Europe has identified five candidates to succeed Christine Lagarde as chief of the International Monetary Fund (IMF) as the lender set a September 6 deadline for applicants. The contenders are Spanish Finance Minister Nadia Calvino, Portuguese Finance Minister Mario Centeno, former Dutch finance minister JeroenDijsselbloem, World Bank chief executive KristalinaGeorgieva of Bulgaria and Bank of Finland Governor Olli Rehn, ...

Bloomberg Boeing warned it will consider slowing or even temporarily halting production of 737 Max, the company’s most important jetliner, if a global flying ban drags on longer than anticipated. The planemaker’s best estimate is that it will submit software updates and paperwork for the Max by September to the US Federal Aviation Administration (FAA), followed weeks later by approval ...

Bloomberg US buyout firm Advent International Corp agreed to acquire UK defense and aerospace company Cobham Plc for about 4 billion pounds ($5 billion), as cash-flush private-equity firms seek targets in Britain. Cobham shareholders will receive 165 pence a share in cash, a 34 percent premium to the closing price, the companies said. The stock traded 35 percent higher at ...

Bloomberg Chipotle Mexican Grill Inc jumped after second-quarter earnings showed the burrito chain’s investment in digital ordering, delivery and advertising is paying off. Same-store sales, a key gauge of success for restaurants, rose 10 percent, compared with the 8.4 percent projected by analysts surveyed by Consensus Metrix. That’s the 10th straight quarter in positive territory and shows the company is ...

Bloomberg Starwood Capital Group and Apollo Global Management have submitted offers to buy an aircraft-financing business owned by General Electric Co, which could fetch around $4 billion, according to people familiar with the matter. GE is working with advisers as it explores a possible sale of PK AirFinance, a subsidiary of the conglomerate’s broader aircraft-leasing business known as GECAS, said ...

Bloomberg President Donald Trump rejected Apple Inc’s bid to avoid tariffs on some computer parts it manufactures in China, saying the company should instead make the components in the US. The Cupertino, California-based technology giant has asked the Trump administration to exclude key components that make up the forthcoming Mac Pro high-end desktop computer from 25 percent import tariffs, weeks ...

Bloomberg Wanda Sports Group Co fell 36 percent in its trading debut after its US initial public offering raised only $190 million, less than half its earlier goal for the listing. The American depositary shares priced in the IPO at $8 and then opened at $6. The shares ended the day worth only $5.16 a share, valuing the Beijing-based company ...

Bloomberg Reliance Jio Infocomm Ltd won more subscribers to become India’s biggest telecom operator, as companies prepare for the planned rollout of a 5G network next year. Reliance Jio’s subscriber base grew to 331.3 million in the quarter ended in June, the company reported. That’s higher than nearest rival Vodafone Idea Ltd, which said its users fell to 320 million ...

Bloomberg Askul Corp plans to exercise its right to demand Yahoo Japan sell its 45 percent stake, escalating a public dispute between two major Japanese internet companies. CEO Shoichiro Iwata said he intends to propose the move at a board meeting scheduled for August 1. Whether the online retailer can force a sale hinges on the interpretation of an agreement ...