Bloomberg Baidu Inc.’s making a concerted effort to catch up in the driverless car race. The search giant showcased its “Apollo” self-driving technology in Beijing, unveiling a partnership with Hongqi — the “Red Flag” brand created to serve late Communist leader Mao Zedong — to develop a near-full autonomous vehicle in 2019. It’s also inked a deal to install the ...

Bloomberg Did Bill Ackman, John Overdeck and David Siegel give a bunch of money to get kids building robots, only to see those kids displaced by machines when they grow up? At a benefit for FIRST, the science and technology nonprofit they’ve supported, the answer was a resounding no, and it came from an authoritative source, Jeff Bezos, the guy ...

Bloomberg Regulators have proposed a softer oversight regime that dials back rules for US banks considered unlikely to pose a threat to the financial system — a step meant to limit the toughest demands only to largest lenders. Responding to legislation that called on federal agencies to ease compliance burdens for non-Wall Street banks, Federal Reserve governors voted on a ...

Bloomberg Brazil kept its key rate at an all-time low amid a recent currency appreciation and signalled an interest rate hike may be less imminent than six weeks ago. The bank’s board, led by its President Ilan Goldfajn, held the benchmark Selic at 6.50 percent for the fifth straight meeting. All but two of the 43 economists in a Bloomberg ...

Bloomberg Danske Bank A/S said it will be able to absorb “large” fines as Denmark’s biggest bank awaits the outcome of criminal investigations into its role in one of Europe’s worst ever money laundering scandals. The bank, which said it faces a “huge task” trying to restore trust with customers and investors, hasn’t yet set aside provisions for a potential ...

Bloomberg It’s not just Italian lenders that should be worried about Europe’s toughest-ever bank test: German firms will also feel the pain. Deutsche Bank AG will be particularly hard hit because of the more severe stress scenario applied to German lenders, according to two people familiar with the matter, who asked not to be named because the results haven’t been ...

Bloomberg India is the latest country to see age-old tensions between governments and central banks flare up as the era of easy money draws to a close. Prime Minister Narendra Modi’s government sent the central bank letters that cited a never-used power to overrule the Reserve Bank of India in a bid to push through measures that would unleash spending ...

Bloomberg Indonesian divers found the main wreckage of the Lion Air plane that crashed into the Java Sea, a breakthrough in a week-long search for victims and the cockpit voice recorder that holds the key to unraveling the reason for the accident. Divers who have been scouring a 270-square-mile area since the jet crashed on October 29 spotted the Boeing ...

Bloomberg Norwegian Air Shuttle ASA agreed to sell five Airbus SE A320neo narrow-body planes in a move that will boost liquidity amid a cash squeeze and rising oil prices. The discount carrier’s Arctic Aviation Assets unit signed an accord covering the jetliners, which are currently leased out to another operator, Norwegian said, without naming the buyer. The deal will lift ...

Bloomberg Gildan Activewear Inc. said it won a contract to produce men’s underwear for a major retailer, part of the clothing maker’s bid to capitalise on companies’ growing preference to sell their own lines of apparel. The Montreal-based company, which also owns American Apparel, said it secured a contract for 2019 to manufacture men’s innerwear for its “largest mass retail ...