Bloomberg Singapore regulators fined Uber Technologies Inc. and Grab S$13 million ($9.5 million) for antitrust violations after the Asian ride-hailing giant acquired its US rival’s regional operations. Effective fares in the city-state rose between 10 percent and 15 percent after the “anti-competitive merger,” the Competition and Consumer Commission of Singapore said in a statement. While the watchdog didn’t nullify the ...

Bloomberg Mahindra Logistics Ltd., a unit of India’s biggest utility vehicle maker, expects higher revenues due to consolidation in the industry spurred by the nationwide sales tax. It’s easier for a customer to get the full benefit of the Goods and Services tax by dealing with a fewer number of vendors, said Mahindra Logistics Chief Executive Officer Pirojshaw Sarkari in ...

Bloomberg Prudential Plc’s Asian asset management arm has hired former Goldman Sachs Group Inc. dealmaker Edmund Lim, who previously led the bank’s Southeast Asia financial institutions group. Lim, who was a managing director at Goldman, will join Prudential’s Eastspring Investments unit in mid-November as head of corporate development, the fund manager said to Bloomberg queries. The banker is leaving Goldman ...

Bloomberg North Korea signaled it wants to bring in investments from South Korean companies to help modernise the secluded country, according to one of the business chiefs that went to Pyongyang last week. North Korea wants to have economic cooperation and technical assistance from the South, Sohn Kyung-shik, the 79-year-old co-chairman of CJ Group and the head of the Korea ...

Bloomberg Jewellers in India breathed a sigh of relief after the government is said to have ruled out raising import taxes on gold to curb a slump in the local currency. Gold futures in Mumbai rose and shares of Titan Co., India’s largest maker of branded jewellery by market value, pared losses. The country isn’t planning to raise the tax ...

Bloomberg China dashed prospects for a near-term resolution to the trade war with the US, warning President Donald Trump his threats of further tariffs are blocking any potential negotiations. The response, which came just over an hour after the US imposed new duties on $200 billion in Chinese goods on Monday, underscores a deepening gulf between both governments in a ...

Bloomberg Sky Plc shares jumped as much as 8.7 percent in London, gracing the per-share offer from Comcast Corp. that beat a competitor to acquire the British broadcaster with a knockout $39 billion bid. Sky traded at 17.22 pounds in London, just shy of the 17.28 pound per-share offer from Comcast, signaling investor optimism with the bid. Comcast trumped by ...

Bloomberg With Miami still on Amazon.com Inc.’s short list for a new headquarters, entrepreneurs gathered at the Endeavor Miami ScaleUP Summit to assess the city’s prospects as a technology hub. The takeaway? Amazon or not, most speakers thought the city was uniquely placed to benefit from its location between US and Latin American business hubs, as long as it could ...

Bloomberg Willi Breuckmann could have gone for the BMW motorcycle—it was a comfortable and affordable machine. And it made sense for him to stick with a ride made in his own country, Germany. Instead, he chose a Harley-Davidson. The Road King. “It comes down to a feeling,” what the Germans call “ein Gefühl,” said Breuckmann, a 54-year-old web developer who ...

During the past decade, China has been investing a lot of money in sub-Saharan Africa: Some Western observers worry that this represents a new form of colonialism. Given the continent’s history with European conquerors and rich countries trying to cheaply exploit its natural resources, that suspicion is understandable. But although China can sometimes be predatory — for example, when uneconomical ...