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Bloomberg Theresa May looked set to seek a long extension to the UK’s European Union membership after the House of Commons speaker torpedoed her plan to win Parliamentary approval for her deal to leave the bloc. Officials privately accused Speaker John Bercow of over-reaching his powers to help pro-EU politicians deliver a softer divorce and said another vote on May’s ...

Bloomberg India’s Ola is raising $300 million from Hyundai Motor Group, giving the ride-hailing startup more capital to compete for drivers and customers against Uber Technologies just as the US rival prepares for an IPO. The deal values Ola at about $6 billion, said a person familiar with the matter, asking not to be named. The Bangalore-based company will continue ...

Bloomberg Hong Kong’s government plans to spend $80 billion, equivalent to half its fiscal reserves, to reclaim land for artificial islands that’ll help ease its housing crunch. The price tag for the so-called Lantau Tomorrow Vision includes costs for reclamation, infrastructure and improving transportation, Michael Wong, secretary for development, said at a briefing on Tuesday. More than a third, or ...

Bloomberg US equities climbed as investors awaited this week’s central bank decisions, including word from a recently more-dovish Federal Reserve. The euro strengthened while Treasuries slipped. The S&P 500 Index continued rising on Tuesday after climbing to a five-month high the day before. Consumer-discretionary, materials and semiconductor stocks led the charge. The Dow Jones and Nasdaq 100 gauges followed suit, ...

Bloomberg The rally in Chinese stocks has been bad news for the Hong Kong dollar. Equity investors are selling the currency for the Chinese yuan and buying mainland shares through the stock trading connects, according to Ronald Man, a strategist at Bank of America Merrill Lynch. That’s keeping the Hong Kong dollar lower in the spot market, he said. The ...

Bloomberg The pound is a bargain and may strengthen to $1.45 once the uncertainty surrounding Brexit starts to get resolved, according to Merian Global Investors Ltd. The $45 billion London-based money manager has a long position on sterling, betting the economy will improve as soon as the protracted chaos over the UK’s separation from the European Union is over. “Sterling ...

Bloomberg China is looking at excluding Boeing Co’s troubled 737 Max jet from a list of American exports it would buy as part of a trade deal with the US, people familiar with the matter said. Boeing jets were featured on a draft list of American products China would buy to reduce its trade surplus with the US, the people ...

Bloomberg Delta Air Lines Inc will continue to pursue a takeover of Alitalia SpA’s operations after a potential partner dropped out, leaving the Italian government with only one industry suitor willing to take the unprofitable flag carrier off its hands. The US airline said it was continuing discussions with state-controlled railway Ferrovie dello Stato Italiane SpA about taking a stake ...

Bloomberg Prada SpA shares fell to the lowest close since 2016 as slower Chinese spending contributed to an unexpected drop in the Italian fashion house’s annual profit. The Hong Kong-listed luxury group attributed a slump in Asia mostly to Chinese tourists reining in spending in Hong Kong and Macau because of the weakness in the yuan. Other luxury brands, including ...

Bloomberg Steinhoff International Holdings NV identified eight people, including former Chief Executive Officer Markus Jooste, as those allegedly behind questionable transactions that brought the global retailer to near collapse. The company’s executives were compelled by a South African parliamentary committee to release the names even as Chairwoman Heather Sonn and Chief Executive Officer Louis du Preez warned it could jeopardise ...