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Bloomberg Sony Corp. upgraded its earnings outlook for a second straight quarter, thanks to a plethora of hit video-game titles that are boosting the PlayStation business. Operating profit for the current fiscal year through March will be 870 billion yen ($7.72 billion), up from the prior forecast of 670 billion yen, the Tokyo-based company said in a statement on Tuesday. ...

Bloomberg A tug-of-war between Japanese and American traders has been keeping yen watchers busy in October, according to a pattern which has emerged in daily price moves for the currency several times this month. On those days, the yen has shown a tendency to strengthen during US trading hours, as stock market volatility sparks a flurry of haven bets, before ...

Bloomberg Commonly seen as a tech-friendly hub, the UK is now targeting the likes of Alphabet Inc. and Facebook Inc. by introducing a digital services tax, joining the growing chorus against cash-rich tech giants. UK Chancellor of the Exchequer Philip Hammond unveiled the measure in his Autumn Budget in London. Aiming to raise 400 million pounds a year ($512 million) ...

Bloomberg Just months after Uber Technologies Inc. persuaded a London judge to allow it to keep operating in the city, the ride-hailing company is back in court. At stake this time is an issue that could strike at the core of the UK’s burgeoning gig economy: whether Uber’s drivers are really self-employed. Two days of hearings kicks off at the ...

Bloomberg International Business Machines Corp. is trying to avoid the fate of other companies that loaded up on debt to fund acquisitions, saying it will use some of its cash hoard and suspend share buybacks in an effort to prevent downgrades to the cusp of junk. The transaction will take IBM’s debt load close to $80 billion as it pursues ...

Bloomberg Novartis AG has dropped about a fifth of its research projects as the drugmaker narrows its focus on the most cutting-edge medicines. The pharmaceutical giant has reduced its drug programs to 340 from 430 after completing a review of its portfolio, Jay Bradner, president of the Novartis Institutes for Biomedical Research, said in an interview. Among the resea-rch projects ...

Bloomberg This is how housing markets turn. Slowly. Six years of home-price gains outpacing wage growth; bidding wars replaced by sales at the asking price; days or weeks on the market turning into months; rising mortgage rates. First-time shoppers start to get priced out, making it harder for move-up buyers to sell, and the slowdown ripples gradually up the real ...

A recent report by the Intergovernmental Panel on Climate Change (IPCC) suggests that we’ve probably lost our chance to keep the planet’s temperature within a safe zone for humanity, which would require limiting global warming to just 1.5 degrees Celsius (2.7 degrees Fahrenheit) over pre-industrial times. Doing so would mean entirely transforming the world’s diet, agriculture practices and energy infrastructure ...

IBM just made the cloud-computing war far more interesting. International Business Machines Corp. announced that it’s buying Red Hat Inc., one of the most successful pioneers of a software movement known as open source, which allows programming instructions to be accessible to anyone to view and alter. Red Hat’s version of the Linux open-source software became widely used in companies’ ...

Europe’s leaders are engaged in a high-stakes standoff with Italy, trying to coerce the populist government to drop its budget-busting spending plan. But how far can they go? Can they risk pushing Italy out of the currency union? Judging from the exposures of French and German banks, they have a strong incentive to seek a compromise. Looking at what banks ...