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Bloomberg Samsung Group’s biotechnology unit is facing a potential criminal investigation and delisting after South Korea’s financial regulator said that the company “intentionally” violated accounting rules surrounding an initial public offering. A securities panel of South Korea’s Financial Services Commission said Samsung Biologics Co. deliberately overstated the value of affiliate Samsung Bioepis ahead of its IPO in 2016, which raised ...

Bloomberg Tata Steel Ltd.’s quarterly profit rose to the highest in nine years as India’s oldest steelmaker reaped gains from higher prices and its focus on the domestic market, where a government push to improve infrastructure has raised demand. Group net income surged nearly four-fold to $495 million in the three months ended on September 30, from 9.76 billion rupees ...

Bloomberg Tencent Holdings Ltd. posted earnings that surpassed all analyst estimates as one-time gains and advertising demand limited the impact of a government clampdown on its lucrative games business. Net income surged 30 percent to 23.3 billion yuan ($3.4 billion) for the September quarter, compared with the 18.4 billion yuan average of estimates. With revenue growing at the slowest pace ...

Bloomberg Babytree Group, a Chinese parenting website backed by Alibaba Group Holding Ltd. and Fosun International Ltd., is seeking as much as $282 million in a Hong Kong initial public offering. The Beijing-based company is offering 250.3 million shares at HK$6.80 to HK$8.80 apiece, according to terms for the deal obtained by Bloomberg. The deal, which is expected to price ...

Bloomberg SoftBank Group Corp. is continuing to push money into one of its biggest investments: WeWork Cos. The New York-based co-working company signed a $3 billion warrant with SoftBank, WeWork said in a discussion of its third-quarter earnings. SoftBank agreed to pay $3 billion to WeWork for the opportunity to buy shares before September 2019 at a price of $110 ...

Bloomberg The Trump administration will hold off for now on imposing new tariffs on automobile imports as top officials weigh revisions to a report on the national security implications, accordi-ng to two people familiar with the matter. President Donald Trump met with his top trade advisers at the White House to discuss a draft report on a Commerce Department investigation ...

Bloomberg The German economy shrank for the first time since early 2015 after the auto industry took a hit. The 0.2 percent contraction in the third quarter was worse than expected and the biggest in more than five years. While the hope is that the setback is related largely to new emissions tests that temporarily disrupted car production, the data ...

Bloomberg General Electric Co jumped as Chief Executive Officer Larry Culp accelerated plans to pare the company’s stake in Baker Hughes with a deal that wo- uld raise about $4 billion at current prices. GE will sell as many as 166.2 million shares in the oilfield-services provider through a secondary offering and a stock repurchase by Baker Hughes, the companies ...

Bloomberg As prices of stocks and bonds issued by PG&E Corp touch record lows, investors probably won’t get any certainty soon from the incoming California governor on how he would deal with the utility’s liabilities from the fatal fires ravaging the state. In a brief news conference with Governor Jerry Brown, Lieutenant Governor Gavin Newsom, who will succeed him in ...

Bloomberg Johnson Controls International Plc’s $13.2 billion sale of its car-battery business completes the company’s dramatic makeover from an automotive supplier to a provider of systems for homes and buildings, setting the stage for growth through acquisitions. Chief Executive Officer George Oliver is betting on continued growth of “smart buildings” as companies seek to boost efficiency of working spaces with ...