Bloomberg Malaysian financier Low Taek Jho has maintained his innocence over new charges of money laundering as the government steps up legal action against those who had allegedly embezzled from state investment fund 1MDB. “Low will not submit to any jurisdiction where guilt has been predetermined by politics and there is no independent legal process,” according to a statement issued ...

Bloomberg Volkswagen AG, trying to win over German car-bashing President Donald Trump at the White House, dangled ideas to expand US auto production and said it may tap Ford Motor Co to help build its cars in America. Chief Executive Officer Herbert Diess said VW has considered adding a second plant in the US, even though the company isn’t fully ...

Bloomberg The global hunt for high-quality, low-risk copper assets that are ready for construction is about to get tougher after Teck Resources Ltd sells a stake in one of the few deals available. Sumitomo Corp and Sumitomo Metal Mining Co agreed to pay $1.2 billion for 30 percent of the Compañia Minera Teck Quebrada Blanca SA project in nor-thern Chile. ...

Bloomberg Caterpillar Inc fell the most in six weeks as skepticism over claims of a US-China trade truce reignited demand concerns that have put the stock on course for its worst year since 2015. Shares fell as much as 6.6 percent, the biggest intraday decline since October 23, when the mining- and construction-equipment maker repeated its warning about rising costs ...

Bloomberg The Trump administration will propose scrapping an Obama-era mandate that new coal-fired power plants use carbon-capture technology, removing a major barrier to constructing the facilities, according to a person familiar with the plans. The Environmental Protection Agency (EPA) is slated to unveil the measure on Thursday, during an event at its headquarters in Washington, said the person, who was ...

Bloomberg The euro area is showing no signs of a meaningful economic rebound, with Italy on the verge of recession after the populist government picked a fight with European authorities over spending plans. IHS Markit’s Purchasing Manager’s Index for manufacturing and services in the 19-nation bloc fell to 52.7 in November from 53.1 in October. While the reading exceeded an ...

Bloomberg Growth in the UK’s dominant services industry unexpectedly slowed to the weakest since the aftermath of the Brexit vote and came perilously close to contraction. IHS Markit’s Purchasing Managers Index for the industry fell to 50.4 last month, well below economists’ forecasts for a reading of 52.5 and just above the key 50 level that indicates expansion. The surveys ...

Bloomberg Qualcomm Inc unveiled new chips that it said will run many of the first phones capable of connecting to new 5G services next year. The Snapdragon 855 includes a processor and modem to connect to wireless networks. It’s the latest version of Qualcomm’s flagship product that’s been the heart of most smartphones sold in the past decade. “In the ...

Bloomberg Ukraine’s leader renewed appeals to his nation’s allies in Europe and the US to punish Russia for a naval clash that’s reignited tensions between the two ex-Soviet neighbours. With initial talk of tighter sanctions now fading and Russia so far paying little cost for firing on Ukrainian ships in the Kerch Strait last month, President Petro Poroshenko reiterated calls ...

Bloomberg Donald Trump has put his finger on the challenge facing Emmanuel Macron. As small town protesters in yellow vests wreak havoc in Paris, Macron is trying to work out how to take the heat out of the situation without compromising his long-term plans for the economy and the environment. Trump suggested a different approach: ditch your green strategy and ...