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Wade past the shadows of the Carlos Ghosn debacle and a picture emerges of a car business that was already in deep trouble. Nissan Motor Co.’s operating profit dropped around 14 percent in the first nine months, margins shrank, and net income tanked 45 percent from a year earlier, the Japanese carmaker said. The company also booked a 9.2 billion-yen ...

President Trump has nominated David Malpass, a senior Treasury official and former Wall Street economist, to succeed Jim Yong Kim as next leader of the World Bank. Rather than rubber-stamp the US nomination, as the bank’s other member governments are generally inclined to do, they should ask whether Malpass is the best available candidate — and, even more important, start ...

Bloomberg Just as New Yorkers were absorbing Amazon.com Inc.’s decision to abandon a new office hub after tangling over $3 billion in tax breaks, General Electric Co. was beating a retreat in Boston, canceling plans to build an office tower and promising to return $87 million in government incentives. In Wisconsin, Taiwanese manufacturer Foxconn was backing away from promises it ...

Bloomberg Apollo Global Management LLC agreed to buy the majority stake in Cox Enterprises Inc.’s television broadcasters, transforming the private equity giant into a key player in local TV with 13 stations from Florida to Seattle. Cox will keep a minority stake and help operate the stations via a new business based in Atlanta, the companies said. The deal also ...

Bloomberg The fate of Windstream Holdings Inc. was cast into doubt after a court ruled that the rural phone company defaulted on its bonds in 2015 by spinning off Uniti Group Inc. Windstream shares fell as much as 43 percent in extended trading. The ruling in Manhattan federal court is a victory for New York hedge fund Aurelius Capital Management ...

Bloomberg A Russian court ruled that Michael Calvey, the founder of private-equity firm Baring Vostok Capital Partners and one of the country’s longest-standing American investors, should be held in custody for nearly two months in an embezzlement case. Calvey will be held through April 13, the judge said. Calvey’s lawyer said the investor maintains his innocence and will appeal. Calvey ...

Bloomberg Sebastian Kurz is getting tough on how the country’s family silver is managed. The Austrian Chancellor’s government put a new team in charge of the more than 22 billion euros worth of company stakes held by the state, giving marching orders that for the first time in decades include a license to buy. The more active role that Kurz ...

Bloomberg A nonprofit sued to block President Donald Trump from diverting funds from the federal budget to spend about $8 billion on his promised border wall, hours after he declared a national emergency. Public Citizen, a consumer rights think tank, filed the complaint on behalf of a nature preserve and three landowners in southern Texas who’ve been told the government ...

Bloomberg Brazil was among the first countries to recognize US-backed National Assembly President Juan Guaido as Venezuela’s rightful leader but it’s unlikely to add much more pressure to help oust Nicolas Maduro. President Jair Bolsonaro is no fan of Maduro, yet he’s been constrained by economic interests, a long-held Brazilian tradition of non-intervention in other countries, and a dash of ...

Bloomberg Libya should be ready to hold elections this year, with rival factions on track to hold a national reconciliation conference by the end of March, the United Nations envoy to the oil-rich but chaotic north African state said. “End of the year is a true possibility” for holding parliamentary and presidential elections, UN envoy Ghassan Salame said in an ...