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Bloomberg A unit of Porsche Automobil Holding SE will recall 57,200 imported Cayenne and Panamera cars due to faulty transmission components, while a unit of Ferrari NV will recall 200 vehicles due to faulty airbags. The Porsche recall will start from August 26, China’s State Administration for Market Regulation said in a statement. Ferrari’s will start from October 10, the ...

Bloomberg Tiger Global Management has examined at least a dozen deals with Indian startups in recent months, according to multiple people with knowledge of the talks, illustrating global investors’ fierce interest in the country’s technology ecosystem. The ultra-secretive New York-based hedge fund has closed investments in at least half of these startups — nearly all of them in fintech or ...

Bloomberg China is grappling with a slowdown that will see output growth slide to the weakest pace in almost three decades this year, as factors far beyond the trade war with the US weigh on the world’s second-largest economy. Gross domestic product is forecast to grow at 6.2 percent in the second quarter, the slowest in a three-month period since ...

Bloomberg US officials approved a record $5 billion privacy settlement with Facebook Inc to resolve the Cambridge Analytica data scandal, people said, prompting an immediate outcry from lawmakers and privacy advocates who said it didn’t go far enough. Although details of the settlement with the US Federal Trade Commission (FTC) weren’t announced, the fine is steep but far from devastating ...

Bloomberg Bayer AG won’t get a new trial in the case of a California man who was awarded $80 million by a jury after it found exposure to the company’s Roundup weed killer caused his cancer. US District Judge Vince Chhabria in San Francisco is expected to issue a second ruling on Monday on whether to reduce the damages in ...

Bloomberg A chunk of New York City plunged into darkness for hours as 72,000 customers on Manhattan’s West Side lost power on the anniversary of the historic 1977 blackout. Energy supply has since been fully restored, Governor Andrew Cuomo said. The outage affected an area stretching from Fifth Ave to the Hudson River, and from West 42nd through 71st streets, ...

Bloomberg The risk of a UK recession is at its highest level in more than a decade, according to the Resolution Foundation. Using yields on government bonds as a measure, the think tank sees the greatest likelihood of a deep slump since just before the financial crisis. The decline of the pound, a widening current account deficit, and poor economic ...

Bloomberg James Murdoch, heir to billionaire media magnate Rupert Murdoch, has added the biggest reported investment yet to his closely watched portfolio: a bet on the virtual-reality provider called the Void LLC. Murdoch has invested $20 million in the business, according to a person familiar with the transaction. He’s also taken a seat on the board, said the person, who ...

Bloomberg The pound is suffering a record run of losses against the euro just as Brits get ready for the summer holidays. Sterling has slid more than 5 percent against the euro in an unprecedented run of 10 weekly declines, handing UK holidaymakers on the continent a hefty foreign-exchange disadvantage. And it’s fared the worst among 32 major currencies tracked ...

Bloomberg Traders taking profit from Kuwait’s longest-winning streak since at least 2016 sent the nation’s main stock index to its first loss this month. The gauge declined less than 0.1 percent, led by National Bank of Kuwait and HumanSoft Holding. While a favourable deposit shift for lenders in the country may boost second-quarter margins from lows in the previous quarter, ...