Bloomberg Volkswagen AG’s board is working towards a decision to list its heavy-truck division, a move that would generate fresh funds for its bid to challenge global leaders Daimler AG and Volvo AB, according to people familiar with the matter. VW’s supervisory board plans to discuss the matter early next week, and the truck unit will host a capital markets ...

Bloomberg Facebook Inc. co-founder Mark Zuckerberg has to explain in court why he dropped a plan to create non-voting shares, which would’ve allowed him to retain control of the world’s largest social-media company after selling most of his stake to fund charitable works. Delaware Chancery Court Judge Travis Laster ordered Zuckerberg to testify on November 19 in a lawsuit brought ...

Bloomberg Blackstone Group LP expects to raise $18 billion for its biggest real estate fund ever. The firm, already the private equity industry’s largest real estate investor, will have a strategy similar to its last fund, investing in distressed properties globally, according to people with knowledge of the plans. Blackstone’s prior fund gathered $15.8 billion in 2015. Blackstone is seeking ...

Bloomberg Publicly traded landlord Equity Residential is marketing two Manhattan apartment buildings, and just completed the sale of a third, as it seeks to reduce its holdings in a rental market that’s softening. The Chicago-based real estate investment trust is looking to sell 800 Sixth Ave., a high-rise tower in Chelsea, and 505 W. 54th St. in Hell’s Kitchen, according ...

Bloomberg Apple Inc. debuted a trio of iPhones, holding fast to what’s now a familiar strategy: getting new buyers to pay higher prices and gobble up more services, like storage and entertainment, as smartphone market growth slows. The iPhone Xs, starting at $999, succeeds last year’s flagship model with a faster A12 processor and updated cameras. The iPhone Xs Max ...

Bloomberg Uber Technologies Inc. said it will spend more than $150 million in Toronto to support driverless car research. The five-year investment includes opening an engineering hub in Canada’s biggest city in early 2019 and an expansion of its Advanced Technologies Group, the unit that’s developing much of the company’s autonomous vehicle technology. Last year, Uber began building an artificial ...

Bloomberg Toyota Motor Corp. is preparing to divulge details of the hybrid-car engine technology it pioneered with the Prius to China in an attempt to catch up with rivals in the world’s biggest auto market. Chinese officials asked Toyota to share its gasoline-electric technology to help local companies meet stricter emissions targets, people familiar with the matter said, asking not ...

Bloomberg For years, airlines have experimented with biofuels, aiming to reduce both carbon emissions and their reliance on fossil fuels. It’s been a turbulent journey buffeted by inconsistent investment and the periodic lure of cheap oil. But several major carriers are planning larger-scale usage of biofuel in 2019 and 2020, including JetBlue Airways Corp. and Cathay Pacific Airways Ltd. United ...

Bloomberg As Metro AG moves towards selling its retail unit to focus on wholesaling, one of its first steps is to weigh the fate of those operations in China. The company said that it’s putting Real, the struggling domestic big-box chain, up for sale. Dusseldorf, Germany-based Metro is also reviewing options for its Chinese Cash & Carry operations, people familiar ...

Bloomberg Cathay Pacific Airways Ltd. cancelled more than 400 flights over the next three days and warned of “serious disruptions” for air travellers as Super Typhoon Mangkhut approaches Hong Kong. Other airlines across the region halted flights on Saturday as Mangkhut slammed into the Philippines and was set to disrupt travel from Hong Kong to Japan. Cathay Pacific said earlier ...