Bloomberg BMW AG warned earnings will fall “well below” last year’s level, and embarked on a 12 billion-euro ($14 billion) efficiency drive to offset impact of trade conflicts and unprecedented spending on electric cars. The shares fell the most since September after the German luxury carmaker said on Wednesday that pretax profit is expected to decline by more than 10 ...

Bloomberg Viacom Inc. is warning pay-TV customers of AT&T Inc. that they could lose access to channels such as Nickelodeon and MTV unless the companies reach a new programming agreement. The current contract between the parties expires on Friday, Viacom said in an email. The media company began activating a “crawl” message on its networks, alerting customers of the looming ...

Bloomberg BP Plc may become the next oil giant to power operations with clean energy. The London-based company is in talks with a solar developer it partially owns, Lightsource BP, to buy power in the US, according to executives at the renewable company. A contract may be signed within six months, Lightsource BP Chief Commercial Officer Katherine Ryzhaya said. “It’s ...

Bloomberg Fiat Chrysler Automobiles NV’s recall of 862,520 gasoline-fuelled vehicles could spur additional demand for the palladium market that’s already reeling from shortages. Replacing the catalytic converters in these vehicles would require an additional 77,000 ounces of palladium, said Miguel Perez-Santalla, sales and marketing manager at refiner Heraeus Metals New York LLC. Prices of the metal that’s used to curb ...

Bloomberg Norsk Hydro ASA said it made progress in securing its computer systems after the Norwegian aluminum maker was hit by a ransomware cyber attack. The company plans to restart overnight some systems in divisions that make finished metal, which should help it continue deliveries to customers. It has detected the “root cause” of the attack, but doesn’t know how ...

Bloomberg Hungarian Prime Minister Viktor Orban’s role as a trailblazer for resurgent nationalist forces in the European Union faces a reckoning as the bloc’s largest political family weighs whether to expel or suspend his illiberal party two months before crucial EU elections. The verdict by the European People’s Party (EPP) due on Wednesday afternoon was expected to signal whether the ...

Bloomberg Indian diamond tycoon Nirav Modi, who allegedly defrauded a state-run bank of $2 billion, was arrested and is due to appear in court on Wednesday, London’s Metropolitan police said in a statement. Indian authorities are seeking to extradite Modi, who dressed stars including Kate Winslet, Dakota Johnson and Priyanka Chopra, and face charges of fraudulently acquiring guarantees from Punjab ...

Bloomberg Kazakhstan began a new political era, at least formally, as Kassym-Jomart Tokayev was sworn in as president on Wednesday, succeeding leader-for-life Nursultan Nazarbayev. One of his first acts was to move Nazarbayev’s daughter into contention as a successor. The Kazakh Senate unanimously elected Dariga Nazarbayeva as the body’s new chairwoman, putting her formally in the line of succession to ...

Bloomberg Britain’s messy divorce from the European Union is once again stuck between the demands of Theresa May’s divided government and the reality of what the bloc is willing to offer her — this time over how long the delay to Brexit should be. With just nine days left until the UK is due to exit the EU, the prime ...

Bloomberg Algeria’s ruling party on Wednesday voiced support for protesters demanding the country’s embattled president step down, in the latest signal of growing rifts within the ruling powers. In comments carried by Algerian television, National Liberation Front chief Moued Bouchareb said Abdelaziz Bouteflika “understood the popular protests and its demands.” A statement issued by the party’s brass after a testy ...