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Bloomberg London Heathrow’s controversial third runway fits within Britain’s plan for reining in fossil-fuel emissions, according to the government’s Committee on Climate Change. “Another runway at Heathrow could be accommodated within those parameters,” said John Gummer, chairman of the committee. Modern technology “ought to give elbow room for about a 60 percent growth in demand,” he said at a briefing ...

Bloomberg Less than halfway through his first year as chief executive officer of Novartis AG, Vas Narasimhan plans a third major transaction to narrow its focus on developing cutting-edge medicines. The Swiss drugmaker said that it will spin off its Alcon eye-care unit while using proceeds from the $13 billion sale of its stake in a consumer-health joint venture with ...

Bloomberg European Union leaders vowed an unwavering response to President Donald Trump’s protectionism, signalling a readiness to retaliate should the US escalate a trade war with tariffs on cars. The EU government heads repeated criticism of US duties on foreign metals and expressed support for the bloc’s retaliatory action over those levies, which Trump has justified on national-security grounds. The ...

Bloomberg Canadian business sentiment is running at near-record levels with companies facing the strongest capacity constraints since before the recession, according to a survey by the central bank. The Ottawa-based Bank of Canada’s second-quarter survey of executives — which mostly took place last month before trade tensions escalated with the US — shows an economy in which companies are finding ...

Bloomberg A Tennessee employee of Volkswagen AG sued the automaker and alleged that it has been systematically discriminating against older workers in wake of a massive emissions scandal that tarnished company’s reputation. Jonathan Manlove, former assistant manager in logistics at the automaker’s Tennessee plant, said he was demoted as part of company’s effort to shed its “old diesel image” and ...

Bloomberg US consumer spending rose less than forecast in May as outlays on services fell and Americans saved more of their incomes. Inflation topped the Federal Reserve’s goal by more than expected. Purchases rose 0.2 percent from April after a 0.5 percent advance that was less than previously estimated, Commerce Department figures showed. The Bloomberg survey median called for a ...

Bloomberg Apple Inc. will soon land a second supplier for the organic light-emitting diode screens used in high-end iPhones, according to people familiar with the matter, a key step in the US company’s push to reduce iPhone costs and its dependence on Samsung Electronics Co. South Korea’s LG Display Co. will initially supply between 2 million and 4 million units, ...

Bloomberg Tsinghua Unigroup Ltd., the state-linked Chinese technology giant, is in advanced talks to acquire French smart-card components maker Linxens, people familiar with the matter said. The Beijing-based company could announce an agreement with Linxens’s owner, private equity firm CVC Capital Partners, as soon as the next couple weeks, according to the people. Tsinghua Unigroup has been discussing a potential ...

Bloomberg South Korea’s dominant message-app operator is considering a private placement next month to raise funds from partners interested in helping to build its crypto platform. Ground X Corp., a blockchain subsidiary of Kakao Corp., may initially seek capital and business alliances with consumer-service companies, Jason Han, the unit’s chief executive officer, said in an interview. Ground X is targeting ...

Bloomberg A self-driving shuttle bus ferrying workers in Detroit from a parking garage to their office has become the first autonomous vehicle to ply the roads of America’s automotive capital. May Mobility, an Ann Arbor, Michigan-based startup backed by Toyota and BMW, is deploying a small fleet of six-seat, electric-powered shuttles in downtown Detroit to transport the employees of Bedrock, ...