Bloomberg Bang & Olufsen A/S lost more than a quarter of its market value after the Danish maker of luxury TVs and stereos warned sales won’t grow this year because of distribution snafus. The shares sank as much as 28 percent, shrinking the company’s value to 4.4 billion Danish kroner ($674 million) and heaping pressure on Chief Executive Officer Henrik ...

Bloomberg Two of the world’s biggest drugmakers agreed to create a giant seller of over-the-counter medicines, in yet another sign that pharmaceutical giants are slowly turning away from the grocery store and back towards the laboratory. GlaxoSmithKline Plc and Pfizer Inc said that they plan to combine their sprawling consumer-health businesses into a single company selling everything from Advil pain ...

Bloomberg The death toll from a tsunami triggered by suspected volcanic activity near the Sunda Strait in Indonesia has topped 200 as rescuers continue to search for dozens missing in the tourist region. More than 220 people, mostly tourists, are confirmed dead, at least 843 injured and dozens are missing in the two provinces hit by waves late on Saturday, ...

Bloomberg The US government shutdown has entered a second day. It’s likely to last at least until late in the week, and maybe into January, as the White House and Democrats remain at an impasse over President Donald Trump’s demand for billions of dollars in border wall funding. Senate Majority Leader Mitch McConnell said the Senate would adjourn for regular ...

Bloomberg UK Prime Minister Theresa May’s allies are plotting to keep her in Downing Street for at least another two years, the Sunday Times reported, citing a senior cabinet minister it didn’t name. The plans being floated would see May hang on to power until the autumn of 2021 when she would hand over to a new Conservative leader, according ...

Bloomberg Protests led by the grassroots Yellow Vest movement abated across France on December 22, a signal that a call to mobilise for a sixth straight weekend failed to maintain the momentum. An estimated 23,800 protested nationwide, down from 33,500 at the same time a week ago, Agence France Presse (AFP) reported, citing the interior ministry. Authorities stopped 109 people ...

Bloomberg A new legal filing appears to ask the US Supreme Court to intervene for the first time in Special Counsel Robert Mueller’s investigation into the 2016 election. The document, which is under seal, stems from a December 18 federal appeals court ruling that required an unidentified company, owned by an unidentified foreign country, to turn over information to a ...

“You’re the top! You’re an Arrow collar. You’re the top! You’re a Coolidge dollar. You’re the nimble tread of the feet of Fred Astaire, You’re Mussolini, You’re Mrs. Sweeny, You’re Camember.” A version of “You’re the Top,” Cole Porter (1934) In the early 1930s, when Benito Mussolini was one of the world’s most admired political figures, Franklin Roosevelt proclaimed in ...

It was one year ago that Bitcoin reached an intraday peak of almost $20,000. Since then, it’s been all downhill. The market value of all cryptocurrency assets have fallen to about $100 billion from about $800 billion at the start of the year. That looks bad, but if you look at the market’s fundamentals, 2018 gets a B+ grade. To ...

When you’re trying to build that tech dream, reality can really suck. Ofo Inc. founder Dai Wei apparently just discovered this, and the results were displeasing. His bike-rental company has immense cash flow problems and he’d even considered applying for bankruptcy, the Financial Times reported, citing a letter to employees. “For the whole of this year we’ve borne immense cash ...