Bloomberg German Chancellor Angela Merkel warned the UK it can’t set unilateral terms for leaving the European Union as Prime Minister Theresa May heads to Brussels to try to complete a contentious Brexit deal. Addressing lower-house lawmakers in Berlin, Merkel gave short shrift to Brexit while rattling off domestic achievements, pleading for stronger bonds between EU nations and criticising go-it-alone ...

Bloomberg A trio of US naval vessels anchored in Hong Kong on Wednesday, the first US naval ships to harbour in the city since China barred entry to another American ship in September, in a sign of easing military tensions between the two powers. The aircraft carrier USS Ronald Reagan, guided-missile cruiser USS Chancellorsville, and guided-missile destroyer USS Curtis D. ...

Bloomberg Interpol delegates elected South Korean Kim Jong Yang as the new president of the global policing body after international criticism of the possibility that rival Russian candidate Aleksander Prokopchuk might get the job. Kim was selected in a snap election organised at Interpol’s general assembly in Dubai following the arrest in China of former president Meng Hongwei last month. ...

Bloomberg Former South African Finance Minister Pravin Gordhan said there was a deliberate scheme to loot taxpayer funds during Jacob Zuma’s rule and accused the former president of helping facilitate it and lying to and misleading members of his cabinet. Gordhan, who now oversees state companies, was testifying before a judicial panel that’s investigating claims that members of the Gupta ...

Bloomberg At least three Republicans are jockeying to serve as President Donald Trump’s first line of defense against any effort by House Democrats to seek his impeachment, a job that that carries high risk and narrow rewards. The position: top GOP seat on the House Judiciary Committee, which could investigate whether there are grounds to remove Trump from office. The ...

Bloomberg US stocks climbed on tech strength, trimming recent losses from the sharp declines across asset classes during Tuesday’s session. Treasuries erased a drop and the dollar fell amid speculation the Federal Reserve may soften its policy stance. All major benchmarks were higher, with the Nasdaq 100 Index leading gainers and erasing more than half of Tuesday’s decline. Retailers and ...

Bloomberg The deepest bear market since the financial crisis in developing-nation technology stocks probably has further to run as earnings disappoint and analysts slash their profit estimates. Companies in the MSCI emerging-market tech gauge are missing earnings forecasts for the first time in almost 18 months, based on 12-month rolling data. Combined with deepening trade tensions, that’s leading analysts to ...

Bloomberg A Southeast Asian nation that was a bit player in the biofuel market is suddenly buying and selling unprecedented supplies. The US-China trade war may have something to do with it. Malaysia has emerged to displace the US as the biggest supplier of ethanol to China in just two months. It’s also the first time the Southeast Asian country ...

Bloomberg Libya’s top oil chief expects Opec and allied producers to exempt the strife-torn North African country from any future cuts in crude output. “The Opec community has understood the difficulties we face— Libya has withheld more than any other country from the global market,” National Oil Corp Chairman Mustafa Sanalla wrote in a phone message. “This should be factored ...

Bloomberg Walk into a JC Penney and it’s a sea of red stickers. Almost everything is marked down, from apparel, jewellery and home goods to Christmas decor, bedding and appliances. And it’s not even Black Friday yet. Even for a retailer whose identity is built on promotions and discounts, there’s an urgency to this holiday season. JC Penney Co.’s bonds ...