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Bloomberg Donald Trump might have to drop tariffs on steel and aluminum if he wants his new North American trade deal to see the light of day. US lawmakers and business groups are joining Canada and Mexico in pushing the president to lift the so-called Section 232 levies on those nations as, essentially, a condition of enacting the trade deal ...

Bloomberg Richard Plepler and David Levy, two of the most powerful executives in US media, are leaving their posts at WarnerMedia as new boss AT&T Inc. overhauls the entertainment business it bought last year. Plepler, who helped create some of TV’s most memorable programs over three decades at HBO, said he plans to step down as chief executive officer of ...

Bloomberg The US economy was steadier than thought at the end of last year, but it’s probably too soon to give it a clean bill of health for 2019. That’s the main takeaway from the shutdown-delayed report on fourth-quarter gross domestic product, which cooled by less than expected to a 2.6 percent annualized gain thanks to surprisingly robust business investment ...

Bloomberg BlueMountain Capital Management LLC has found a potent ally in its fight to overhaul leadership of bankrupt utility giant PG&E Corp: activist investor ValueAct Capital Management. BlueMountain, a PG&E shareholder that pushed to keep PG&E out of bankruptcy, launched a proxy fight to replace its board in the days prior to the company’s Chapter 11 filing in January and ...

Bloomberg Daimler AG and BMW AG have agreed to cooperate on developing self-driving cars, the latest move by the luxury-car rivals to share cost as a technology shift shakes up the industry. The German manufacturers have signed a memorandum of understanding to jointly develop the next generation of autonomous-driving technology, which should be market-ready by the middle of the next ...

In the days after he resigned as secretary of defense in December, Jim Mattis told people he hoped to be succeeded by Patrick Shanahan, his deputy. Shanahan has remained in limbo since then as acting secretary, perhaps trying to convince President Trump’s critics that he will be independent, the way Mattis was, while simultaneously reassuring the White House that he ...

Mario Draghi is rarely afraid to adopt difficult positions on the subject of Europe’s future. The president of the European Central Bank (ECB) has advocated that the euro zone should build a capital market union, complete the banking union and move towards a centralised budget – even though political leaders are reluctant to take those steps. Last week, Draghi took ...

It’s shaping up to be another tough quarter for securities firms, the world’s biggest trading house has warned. JPMorgan Chase & Co.’s grim assessment of market conditions this year is more than a stark reminder that the wallet keeps shrinking. The US firm warned this week that it expects trading revenue to shrink by a low-teens percentage in the first ...

The alarming new standoff between India and Pakistan could end in any number of ways, from talks and a quick truce, to a series of military escalations that risk ending in a nuclear exchange. At such a perilous moment, the need for calm and dialogue is plain – but more than this is required. The longtime South Asian rivals need ...

From the 1990s through the early 2010s, it looked as if China could do no wrong. Its economy grew at a breakneck pace as its companies hungrily gobbled up market share in a wide array of manufacturing industries. Its political system, although authoritarian, seemed increasingly stable, as power passed from Deng Xiaoping to Jiang Zemin to Hu Jintao to Xi ...