Bloomberg President Donald Trump opened another potential front in his trade war, terminating India’s designation as a developing nation and thereby eliminating an exception that allowed the country to export nearly 2,000 products to the US duty-free. “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump ...

Bloomberg Top Justice Department officials want T-Mobile US Inc and Sprint Corp to lay the groundwork for a new wireless carrier — with its own network — as a condition to clearing their $26.5 billion merger, according to a person familiar with matter. The two companies have been pondering additional concessions that could help win Justice Department approval for their ...

Bloomberg The US merchandise-trade deficit widened for a second month to the highest level since a record in December as exports dipped. The goods-trade gap grew to $72.1 billion in April from $71.9 billion the month earl-ier, according to Commerce Department figures, slightly undershooting economist estimates for an increase in the deficit to $72.7 billion. The figures precede this month’s ...

Bloomberg President Donald Trump’s vow to impose a 5 percent tariff on Mexican goods comes just in time to hit exports from a $1 billion BMW AG factory that opens in the country next week. A swathe of the 3-Series sedans to be made at the plant in San Luis Potosi are destined for US dealers. Higher duties mean a ...

Bloomberg NXP Semiconductors NV agreed to buy the Wi-Fi connectivity business of Marvell Technology Group Ltd. in a deal valued at $1.76 billion. The all-cash acquisition includes Marvell’s Wi-Fi and Bluetooth technology and related assets, and will allow the automotive industry’s biggest chip supplier to offer customers a broader range of options to connect devices to the internet. The Marvell ...

Bloomberg Brazil’s activity took its first quarterly plunge since 2016 as investment tumbled further, casting doubt on the recovery of Latin America’s largest economy. Gross domestic product shrank 0.2 percent in the first quarter, compared with a 0.1 percent increase in the three months through December, the national statistics agency said. The result was in line with the median estimate ...

Bloomberg US President Donald Trump has urged Britain to name Nigel Farage, a flamboyant and popular advocate for leaving the European Union, to negotiate a final Brexit agreement, the Sunday Times reported. Trump said the UK should refuse to pay the 39 billion-pound ($49 billion) settlement to cover commitments to the EU and walk away unless it gets “a fair ...

Bloomberg The Israeli rocket attack on eastern suburb of Quneitra has left 3 soldiers dead and 7 others injured, the state-run Syrian Arab News Agency reported. Syrian air defenses earlier intercepted “enemy targets” over a Damascus suburb, Sana reported. The Israeli rockets came from the direction of the Golan Heights, according to Sana. Israeli fighter jets and attack helicopters struck ...

Bloomberg A military-explosives factory east of Moscow blew up, injuring more than 40 people and sending a plume of smoke over parts of the city of Dzerzhinsk. Fifteen of the 43 injured were hospitalised, Interfax reported, citing the Health Care Ministry. A fire at the Kristall plant was brought under control after an administrative building was destroyed by the explosions, ...

Bloomberg China doesn’t seek to surpass the US as the globe’s dominant power but is prepared to “fight to the end” if needed, Defense Minister Wei Fenghe said, as trade friction grows between the world’s biggest economies. “China has no intention, no power, to be the boss of this world, and against the United States to fight for this status,” ...