Bloomberg Stronger-than-expected new-car sales last month belied a dirty little secret: Automakers have been selling more vehicles to rental fleets in recent months to prop up volume. Deliveries to rental-car companies and other non-retail buyers accounted for more than a third of total sales last month for Ford Motor Co and Nissan Motor Co, according to data from researcher Cox ...

Bloomberg Carlos Ghosn will remain in jail until at least April 14 after a Japanese court granted prosecutors’ request to keep the former chairman of Nissan Motor Co longer for questioning on new allegations of funneling millions of dollars from the automaker for his own purposes. The court disclosed its decision in a statement. The former global auto titan, who ...

Bloomberg China’s foreign-currency holdings rose for a fifth month as lower government bond yields in developed markets lifted valuations. Reserves increased by $8.58 billion to $3.0988 trillion in March, the People’s Bank of China said on Sunday. The reading compares with $3.09 trillion from the previous month and the median estimate of $3.09 trillion in a Bloomberg survey of economists. ...

Bloomberg Indonesian ride-hailing service Go-Jek’s value was estimated at $10 billion by a US market intelligence company, putting it in the ranks of startups called decacorns. New York-based CB Insights has listed Go-Jek among 19 decacorns around the world, along with the likes of Uber Technologies Inc, according to the Jakarta Post newspaper. That would make Go-Jek Indonesia’s first startup ...

Bloomberg BHP Group Ltd will cut jobs in a continuing effort to reduce bureaucracy under a previously foreshadowed streamlining strategy, a person familiar with the matter said. It is unclear how many jobs will be lost or when the reductions will begin, the person said, requesting anonymity because the move isn’t public. The changes come less than six weeks after ...

Bloomberg Living where you work and play may not seem like the ideal balance in terms of escaping the grind, but it’s a key plank of Singapore’s vision for its central business district. Like many cities’ financial centres, Singapore’s is bustling by day and close to deserted during a weekend. The government hopes to change that and laid out details ...

Bloomberg Technology stocks have reclaimed record highs, making them one of the first groups to put last year’s carnage behind them. But everywhere else you look in the industry, bad news is overwhelming the good. Profits are shrinking at an alarming pace, valuations are reflating and politicians want to break the companies up. Semiconductor orders have slumped, and spending on ...

Bloomberg The omens are looking bad for the yen. Traders have boosted short positions on Japan’s currency for six straight weeks as signs that economic growth is slowing make it more likely the central bank will maintain its record monetary stimulus. At the same time, global risk sentiment is improving as the US and China near a deal to resolve ...

Bloomberg Stung by a $1.9 billion fine in 2012 for failure to prevent money laundering, HSBC has been trying to get its house in order. It quintupled the number of employees assigned to spot suspicious activity to 5,000, upgraded its technology and, in 2016, hired Jennifer Calvery, the US Treasury Department’s top anti-money-laundering official, to oversee its efforts — the ...

Bloomberg India’s central bank is on course for its most aggressive monetary policy easing in more than three years, as it seeks to support the world’s fastest-growing major economy in the face of risks both at home and abroad. The Reserve Bank of India (RBI) delivered its second successive interest rate cut and said it stands ready to use all ...