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­­­­­­­­­­­Bloomberg UK Brexit Secretary David Davis dismissed as “nonsense” published reports that Prime Minister Theresa May is set to approve paying as much as $64.8 billion to leave the European Union. May is ready to agree to the total in a bid to kickstart trade talks, but won’t disclose details until after the Conservative Party conference in October, The Sunday ...

Bloomberg America’s manufacturers are showing signs of fabricating some genuine momentum. Toss in improvement among US builders and miners and the US is undergoing the blue-collar revival that President Donald Trump has been pushing. Gary Cohn, the top economic adviser at the White House, told CNBC that the country is seeing jobs being created in the sectors that need them. ...

Bloomberg Deutsche Bank AG is bowing to the inevitable and replacing the BlackBerry devices that were issued to its staff with iPhones. A Deutsche Bank spokesman confirmed that the lender is phasing out the devices, without commenting further. The company’s employees were increasingly giving up their BlackBerry phones in favour of ones they’d bought themselves under a Bring-Your-Own-Device (BYOD) policy, ...

Bloomberg Alphabet Inc. is forming a new holding company designed to finalise its evolution from Google, the web search giant, into a corporate parent with distinct arms that protects individual businesses in far-flung fields like health care and self-driving cars. The new entity, called XXVI Holdings Inc., will own the equity of each Alphabet company, including Google. The new structure ...

Bloomberg Roku Inc., the maker of devices and software for streaming video that was an early challenger to traditional home-entertainment providers, filed for a US initial public offering. The company listed an initial offering size of $100 million, which it said is a placeholder used to calculate fees and will probably change. IT plans to use the proceeds for general ...

Bloomberg Fiat Chrysler Automobiles NV will push ahead with separating the parts business, while the carmaker doesn’t have any big deal on the table and hasn’t received any approach for a combination. “There are some activities at the component businesses which don’t belong to the car business and the group must be purified from those assets,” Chief Executive Officer Sergio ...

Reuters China’s Legend Holdings struck a deal to buy a 90 percent stake in Banque Internationale a Luxembourg (BIL) for 1.48 billion euros ($1.76 billion) in the biggest takeover of a European deposit-taking bank by a Chinese firm so far. Legend, best known as owner of computer group Lenovo Group Ltd, is acquiring 161-year-old BIL from Precision Capital, an investment ...

Bloomberg UBS Group AG is leaning towards Frankfurt for its trading headquarters inside the European Union after Brexit, according to four people with knowledge of the matter. The Swiss firm’s investment bank employs about 4,800 bankers globally and could move 250 or more jobs out of London to Frankfurt and other European locations, two of the people briefed on the ...

Bloomberg Guatemala’s second major political crisis in two years could hurt economic growth if it drags on, interim Central Bank President Sergio Recinos said. The crisis, which deepened after a court overruled President Jimmy Morales’s attempt to expel UN-backed anti-corruption chief Ivan Velasquez, was a factor in the central bank’s decision not to raise interest rates, and has dampened investor ...

Bloomberg The man who predicted the 2008 global financial crisis also presaged the damage Prime Minister Narendra Modi’s unprecedented cash ban would cause to India’s economy. Raghuram Rajan was governor of the Reserve Bank of India in February 2016, when he was asked by the government for his views on demonetisation, according to Rajan’s book “I do what I do”, ...