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Bloomberg Venmo’s app succeeded in becoming a ubiquitous way for young people to send money back and forth. It has been less successful at creating a sustainable business. Dan Schulman, chief executive officer of Venmo parent company PayPal Holdings Inc., said that while it hasn’t happened yet, the app will make money someday. “I have full confidence that we will ...

Bloomberg Ford Motor Co. is taking its driverless delivery trials to South Beach to continue testing consumer response to receiving pizzas and packages from the back of a robot ride. The automaker is deploying a handful of delivery vehicles on the clogged byways of Miami and Miami Beach to serve up Domino’s pizza, groceries and other cargo. They’ll be dressed ...

Bloomberg Russia is sending more natural gas to Europe than ever before as a blast of Arctic air lifted demand for heat and electricity, underlining the region’s dependence on its eastern neighbour. The freeze severely tested Europe’s energy network over the past week. Spot gas prices tripled to a record, drawing in more Russian supplies by pipeline and prompting a ...

TOKYO / Reuters ExxonMobil Corp has declared force majeure on exports from its Papua New Guinea liquefied natural gas (LNG) project, which has been shut since a powerful earthquake, an industry source familiar with the matter said. At least 31 people were killed by the 7.5 magnitude quake, and Prime Minister Peter O’Neill has declared a state of emergency across ...

Bloomberg President Donald Trump set the stage for a trade war after slapping tariffs on steel and aluminum imports, daring other countries to retaliate and leading the European Union to warn that it would target iconic American brands. Hours after Trump tweeted that “trade wars are good, and easy to win,” European Commission President Jean-Claude Juncker said the bloc is ...

Bloomberg Mothercare Plc has started talks with its lenders seeking a reprieve on debt terms amid challenging market conditions that have left it needing to borrow more. The UK-based childrenswear retailer will need to draw on existing debt facilities up to their limits while it seeks new financing in the next financial year, it said in a statement. HSBC Holdings ...

Bloomberg UK Prime Minister Theresa May’s vision for post-Brexit Britain would see some industries stay aligned with EU rules—with others breaking free entirely. Her plan could change how banks operate as well as raise costs for holidaymakers using their smartphones. Below are some key takeaways from her speech in central London. Financial Services UK-based banks and other financial services companies will ...

Bloomberg The Dutch IPO drought is over. With at least four confirmed initial public offerings in Amsterdam, 2018 is already looking twice as busy as all of 2017. Alfen Beheer BV, which makes charging stations for electrical vehicles, became the third company this week to announce its intention to list in Amsterdam, joining merchant bank NIBC Holding NV and wholesaler ...

Bloomberg The auto industry is warning that US sales declines, which have become routine over the past year, may continue thanks to the tariffs President Donald Trump plans to slap on steel and aluminum imports. Toyota Motor Corp., which plans to build a new $1.6 billion factory in Alabama with Mazda Motor Corp., said the administration’s decision will “adversely impact” ...

Bloomberg Italians vote on Sunday in an election that pits several shades of populists against the mainstream and which may only succeed in further clouding the political landscape. The anti-establishment Five Star Movement was on track to be the biggest single party when a polling blackout began on February 17, though only Silvio Berlusconi’s center-right coalition was within reach of ...