Hate to break it you, NIO Inc. is no Tesla. The Chinese electric-car company may have the trappings of the automaker of the future but ornaments won’t be enough to turn it into a genuine contender. A self-declared rival of Elon Musk’s Tesla Inc., NIO has been on the road rallying global investors for an imminent listing in New York ...

Bloomberg Europe can’t allow itself another money laundering scandal like the one engulfing Denmark’s biggest bank, according to a growing list of regulators, legislators and even bankers now demanding better region-wide controls against such crime. Rasmus Jarlov, the minister in charge of financial legislation in Denmark, says the example of Danske Bank A/S is one from which Europe needs to ...

Bloomberg The Indian rupee and bonds sunk after the current-account deficit widened to the most in five years, as an emerging-market rout raises investor scrutiny of countries with worsening balance of payments. The rupee slid as much as 1.3 percent on Monday to a new low of 72.6738, leading losses among Asia’s emerging-market currencies. Sustained weakening has prompted authorities to ...

Bloomberg Bank of Japan watchers can rest easy and enjoy a late summer holiday because it won’t be making another policy tweak any time soon, according to a former BOJ official. “It will take time for the BOJ’s next policy step given the need for a consensus from the nine board members,” said Takashi Kozu, who held a wide-range of ...

Bloomberg Egyptian consumer prices rose at their slowest monthly rate since May, offering fresh evidence that the impact of fuel price hikes was abating and giving the central bank room to shift its focus from inflation to investments. Monthly inflation in August eased to 1.8 percent compared to 2.4 percent the previous month, according to data reported by CAPMAS, the ...

Bloomberg The days of explosive growth in the blockchain industry have likely come and gone now that the average person is aware of its existence, according to Vitalik Buterin, co-founder of Ethereum. “The blockchain space is getting to the point where there’s a ceiling in sight,” Buterin said in an interview with Bloomberg at the Ethereum Industry Summit conference in ...

Bloomberg Walmart Inc., pinched by the worsening shortage of truckers, plans to double its spending on attracting and retaining drivers by year-end. The retailer, whose private fleet of 6,500 trucks is one of the largest in the nation, will offer referral bonuses of up to $1,500, shorten the on-boarding process for new hires by more than a month and broadcast ...

Bloomberg India’s booming e-commerce industry just got an ally: the first cargo service by a commercial airline. SpiceJet Ltd. is starting a dedicated freighter business to ship goods from consumer electronics to apparel and fresh farm produce as an increasing number of online shoppers visiting Amazon.com Inc. to Flipkart Online Services Pvt. demand same- or next-day deliveries. The carrier will ...

Bloomberg The Transportation Security Administration (TSA) is so pleased with a program to test three-dimension X-ray technology for carry-on bag screening at airports that it’s increasing plans to buy the new technology starting next year, the agency chief told Congress. TSA is testing computed tomography X-rays, which shoot hundreds of images of a bag from different angles, at 13 airports ...

Bloomberg Shares of Associated British Foods Plc, owner of the Primark clothing chain, fell after the company predicted a decline in comparable sales at the retailer. Primark’s like-for-like sales will decline by 2 percent this year, the company said on Monday, citing Europe’s unusually hot summer weather. The apparel stores are expected to post gains overall, but that’s only because ...