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Bloomberg President Donald Trump said the US will cut regulations and free up spectrum for 5G technology amid tight competition with China and other nations to develop the next genera-tion of telecommunications infrastructure. “The race to 5G is a race that America must win,” Trump said at the White House. “We cannot allow any other country to out-compete the United ...

Bloomberg Talks between General Motors Co. and electric-vehicle startup Rivian Automotive Inc. about the largest US carmaker buying an equity stake have reached an impasse and may be dead, people familiar with the matter said. GM had negotiated potentially taking a stake in Rivian and forging a partnership that may have helped the Plymouth, Michigan-based startup bring fully electric trucks ...

Bloomberg Utility giant PG&E Corp. capped its best day since going bankrupt in January thanks to California’s governor. Gavin Newsom called on lawmakers to find a way to help the state’s utilities cover the costs of devastating wildfires — costs so crippling that PG&E was forced to file for Chapter 11 in January while facing $30 billion in liabilities. He ...

Bloomberg North Korean leader Kim Jong-un said he’s willing to hold a third summit with President Donald Trump as long as the US offers acceptable terms for an agreement by the end of the year. In remarks carried by the official Korean Central News Agency (KCNA), Kim said he wouldn’t welcome a repeat of the Hanoi summit in February, when ...

Bloomberg Sudan’s pro-democracy movement claimed the scalp of its second leader in less than a week after the head of a transitional government stepped down to be replaced by another military figure. Defense Minister Ahmed Awad Ibn Auf announced his resignation in a televised speech, less than two days after the army ousted President Omar al-Bashir. The move was met ...

Bloomberg The US condemned the Taliban’s launch of a new spring offensive in Afghanistan as the world’s biggest military power continues to pursue peace talks with militants in the war-torn country. Calling the Taliban move “reckless,” US Special Envoy on Afghan Reconciliation Zalmay Khalilzad said on Twitter that the insurgents demonstrated their “indifference” to the peace demands of the Afghan ...

Bloomberg Secretary of State Michael Pompeo blamed China and Russia for spreading “disorder” in Latin America by funding failing development projects and supporting leaders such as Venezuelan President Nicolas Maduro, who the US insists must step down from power. Pompeo, speaking in Chile at the start of a three-day South American tour, said Beijing and Moscow have fuelled corruption and ...

Bloomberg Theresa May will stay on as British prime minister to get Brexit done, even if that means remaining in the job until the end of October, Chancellor of the Exchequer Philip Hammond said. May promised to step aside once the divorce agreement has been passed in parliament, so a new leader can take charge of the next phase of ...

Bloomberg The Philippines asked China to refrain from acts that could disrupt the two nations’ improving relations amid simmering tension in the South China Sea. “China should avoid performing acts that will place at risk the Filipino fishermen fishing in the disputed areas and at the same time cause irritants that will disrupt the current friendly relations,” President Rodrigo Duterte’s ...

The Phillips Curve is dead; long live the Phillips Curve. One of today’s economic mysteries is: Why is inflation so low? The unemployment rate is a puny 3.8%. The recovery from the 2007-09 Great Recession is nearly a decade old, just when tight labour markets and strong demand usually push up wages and prices. Yet inflation (measured by the consumer ...