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Bloomberg The battle between Tesla Inc and General Motors Co for the most valuable US carmaker is heating up. After Tesla followed in the footsteps of the legacy automakers and announced a plan to cut jobs, shares of the electric vehicle maker dropped as much as 10 percent in New York, bringing its market capitalisation to just $54.2 billion. GM, ...

Bloomberg Google agreed to acquire smartwatch technology and personnel from Fossil Group Inc in a bid to boost the search giant’s nascent efforts in the category. The Alphabet Inc unit will pay $40 million for Fossil intellectual property, according to a statement from the companies. Additionally, an unspecified number of Fossil’s research and development employees will join Google. Fossil said ...

Bloomberg Two electric scooter startups, fresh off raising hundreds of millions of dollars last year, are now raising hundreds of millions more, according to multiple people familiar with the details. But the latest hard-fought deal terms for Lime and Bird Rides Inc. both peg the companies’ worth at far less than the lofty valuations the startups once sought. New funding ...

Bloomberg Salesforce.com Inc is planning to add as many as 1,500 jobs in Ireland over five years, in one of the largest such expansions in the history of the state. The San Francisco-based software maker, which now employs more than 1,000 people in Ireland, laid out its Irish expansion plans in Dublin. Bloomberg News first reported the figure. The company, ...

Bloomberg US factory production expanded in December by the most in 10 months, ending the year stronger than expected thanks to a surge in motor-vehicle output and gains across a range of other goods. Manufacturing output rose 1.1 percent from the prior month after an upwardly revised 0.1 percent rise, Federal Reserve data showed. The results exceeded all estima- tes ...

As the partial government shutdown drags on, the political cost is mounting for the White House, and the domestic consequences — from uninspected food to long airport security lines — are accumulating. There is also a widely overlooked problem: The shutdown is taking a toll on US foreign policy. With global concerns about the stability of the US government rising ...

If this is prudence, let’s have more of it. The People’s Bank of China’s (PBOC) bit-by-bit approach to spurring growth is letting fiscal policy take a welcome turn at the wheel. It also amplifies a trend seen in other major economies, where central banks are carrying less of a burden relative to the past decade. The message was on vivid ...

Indonesia’s booming e-commerce industry is churning out unicorns such as Tokopedia PT and Bukalapak.com. It’s also creating a headache for the government and the rupiah. Authorities are trying to capitalise on this fast-growing cash cow by taxing e-commerce transactions. Starting April, online retailers will need to collect, deposit and report income and value-added taxes. Small and medium-size businesses must pay ...

The UK Parliament has inflicted the biggest-ever defeat on a sitting government in the country’s modern history. It has pretty much shredded the only deal agreed by Brussels and London for a Brexit on amicable terms. The deadline of Article 50 (the two-year withdrawal process) draws near, and there’s still no solution beyond the dread prospect of the UK automatically ...

Many of the headlines coming out of Detroit during the North American International Auto Show will be about electric vehicles – from new electric concept vehicles from Nissan and Infiniti to an emerging partnership between Ford and VW on electric and autonomous vehicles. By all means, environmentalists and others should celebrate progress in bringing more EVs to market. But they ...