Bloomberg General Electric Co. Chief Executive Officer John Flannery is taking the biggest step yet in his plan to revitalise the beleaguered manufacturer, agreeing to merge its century-old locomotive business with Wabtec Corp. in a deal valued at $11.1 billion. GE and its shareholders will own 50.1 percent of the combined company, giving the parent an ongoing stake in the ...

Bloomberg Facebook Inc. co-founder Mark Zuckerberg’s testimony to the European Parliament on Tuesday on the Cambridge Analytica scandal will be broadcast live on the internet. Zuckerberg agreed to the web feed after talks with Antonio Tajani, the president of the parliament. The proceedings, scheduled for the late afternoon in Brussels, were to take place behind closed doors. “Great news for ...

Bloomberg Fear of missing out may persuade Americans with an eye on buying a home to hurry their decision before it gets more expensive. But while demand shows few signs of teetering, jumps in both property values and borrowing costs will test the market’s durability. Home sales are now hovering near expansion highs, though momentum has been kept in check ...

Bloomberg Donald Trump and Kim Jong-un will meet next month to negotiate a deal that could avert nuclear war. But the ultimate success of any agreement hinges on someone else: China’s President Xi Jinping. As North Korea’s largest trading partner, China’s enforcement of United Nations sanctions helped bring Kim to the negotiating table while also shielding his regime from Trump’s ...

Bloomberg President Nicolas Maduro won another six-year term as millions of Venezuelans boycotted the widely derided election, a victory that hands him sole ownership of the nation’s crushing economic crisis. Ignoring calls from the US and regional leaders to suspend the elections, the socialist regime proceeded with the presidential contest despite the threat of further isolation and sanctions on the ...

Bloomberg President Donald Trump’s formal demand that the Justice Department investigate possible surveillance of his campaign marks a turning point: It’s the first time he’s using the authority of his office to counter the Russia probe since he fired FBI Director James Comey last year. “I hereby demand, and will do so officially tomorrow, that the Department of Justice look ...

Bloomberg Roman Abramovich, the Russian billionaire who owns London’s Chelsea Football Club, is unable to travel to the UK at the moment because of delays renewing his visa, according to people familiar with the situation. Abramovich, who didn’t watch his team win the FA Cup at Wembley Stadium, hasn’t been denied a visa, but renewal is taking longer than usual, ...

Bloomberg Giuseppe Conte, a 53-year old law professor with no political experience, has emerged as the leading candidate for prime minister in an Italian coalition government. All of Italy’s main newspapers reported on Monday that Conte, who teaches law at Florence University, is the frontrunner. Conte himself posted a picture of John F. Kennedy on his WhatsApp profile over the ...

Bloomberg Secretary of State Mike Pompeo demanded Iran halt all uranium enrichment, stop its ballistic-missile programme and give nuclear inspectors access to the entire country, in a speech detailing the US approach now that President Donald Trump has withdrawn from the 2015 nuclear deal. The demands were among 12 “basic requirements” that the US will seek if Iran wants relief ...

Think the plummeting costs of solar and wind are transforming the energy landscape? Then you should be betting on ways to warehouse that power. To understand why, consider: Unlike almost all their rivals in the energy-generation space, solar panels and wind turbines are mass-produced goods. That means they’re subject to the rules of continual improvement and falling costs that we ...