Bloomberg Rescuers hunted for survivors and victims under the rubble of hundreds of hotels and houses flattened by a deadly tsunami along Indonesia’s Sunda Strait with authorities warning the death toll may climb from the 373 already confirmed. Most of the victims were local holidaymakers staying in the hotels and bungalows along the popular beaches in Lampung and Banten provinces, ...

Bloomberg China’s biggest-ever overseas property buying spree reversed course in dramatic fashion in 2018. But even after the record unwinding, many lucrative real estate assets remain in Chinese hands. They include the 245 Park Ave skyscraper in Manhattan, New York’s famed Waldorf Astoria Hotel and Chicago’s Vista Tower, under construction but envisaged as one of the city’s tallest buildings. With ...

Bloomberg People who make a living guiding others through bankruptcy in Canada say they’ve never been busier. Record debt burdens, rising borrowing costs and, in some cases, bigger payday loans are driving many Canadians to seek relief, according to several licensed insolvency trustees who spoke to Bloomberg. They say November was their busiest on record, and December — typically a ...

Bloomberg If emerging markets had their way, this Christmas week would be like any other: quiet, with just a handful of economic releases and low trading volumes. But political dramas playing out in the US are keeping investors on tenterhooks. The US government shutdown over President Donald Trump’s demand for border-wall funding is likely to last past Christmas. And even ...

Bloomberg Uber Technologies Inc lost a UK lawsuit over the employment rights of its drivers, in a landmark judgment that threatens to force companies in the country’s burgeoning gig economy to offer benefits such as paid vacations. London’s Court of Appeal dismissed a challenge by the ride-hailing firm over a lower court ruling that found its drivers are “workers,” meaning ...

Bloomberg CellCube Energy Storage Systems Inc, a Canada-listed maker of batteries that can last for as long as two decades, said the cost of its technology may halve within four years, potentially boosting its uptake over lithium-ion units. Costs of its vanadium redox flow battery units, which can discharge power for four hours, will decline to $150 per kilowatt hour ...

Bloomberg The mere mention of Elliott Management Corp is enough to rattle any telecom executive after the New York activist fund took on Telecom Italia SpA — Europe’s most indebted phone company — and removed its CEO. So when Elliott this month denied a media report it was targeting southern Europe’s other debt-laden carrier, Telefonica SA, it seemed the Spanish ...

Bloomberg A Pakistani court convicted former Prime Minister Nawaz Sharif of corruption and handed him a seven-year prison term, sparking protests by his supporters. Arshad Malik, a judge of the accountability court, delivered the verdict in Islamabad on Monday after finding that Sharif had accumulated wealth through unknown means. Sharif, who was acquitted on the second charge and released from ...

Bloomberg Sudanese doctors went on strike as the army pledged its loyalty to President Umar al-Bashir amid some of the biggest anti-government protests in his rule. At least eight people have been killed in demonstrations that have rocked the African nation’s cities since mid-last week, as discontent with an economic crisis and soaring living costs have developed into calls for ...

Bloomberg Burundian authorities decided to move the political capital to the city of Gitega in the central province, from Bujumbura, government spokesman Prosper Ntahorwamiye said on Burundi National Television. Bujumbura will remain the economic capital as many of country’s business activities’ are based there, Ntahorwamiye said. At least five ministries and their agencies will start working from Gitega in Janaury ...