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Bloomberg Sumitomo Mitsui Financial Group Inc. has decided to set up banking and securities units in Frankfurt to maintain business in the European Union following the UK’s eventual departure from the bloc. Japan’s second-biggest lender by market value is establishing the units to offer services “with no disruption” once Britain leaves the union, it said in a statement on Monday. ...

Bloomberg Facebook Inc.’s small print may be the next big thing in European antitrust as watchdogs home in on how the world’s biggest social network collects information from users that helps generate vast advertising revenues. Germany’s Federal Cartel Office is examining whether Facebook essentially takes advantage of its popularity to bully users into agreeing to terms and conditions they might ...

Bloomberg Tesla Inc. investors, customers and fanboys got some much-anticipated news on the Model 3 timeline when Chief Executive Officer Elon Musk announced that the mission-critical model passed all its regulatory requirements for production two weeks ahead of schedule. “Expecting to complete” the first car Friday, Musk wrote in a Twitter post. The company will hold a handover party for ...

Bloomberg Aspen Pharmacare Holdings Ltd. sees further acquisitions in the next 12 months as strong revenue and lower capital expenditure restore its firepower after the purchase of two anesthetics portfolios last year. The potential deals will probably be made in the South African company’s existing pharmaceutical markets, with womens’ health a possible area of expansion, Chief Executive Officer Stephen Saad, ...

Bloomberg Drugmakers in the UK led by AstraZeneca Plc increased payments to local health-care organizations, doctors and other workers by 25 percent last year, with most of that money going toward research and development, voluntary disclosures by the recipients showed. The spending climbed to 455 million pounds ($590 million) last year, according to a report on Friday from the Association ...

Bloomberg Euro-area manufacturing expanded at the strongest pace in over six years as factories across the region took on more workers to deal with surging orders. A Purchasing Managers’ Index climbed to 57.4 in June, up from 57.0 in May and above a June 23 flash estimate, IHS Markit said on Monday. Growth rates improved in most of the surveyed ...

Let’s imagine a Chinese ‘applied history’ project, similar to the one at Harvard’s Belfer Center that helped spawn Professor Graham Allison’s widely discussed book ‘Destined for War.’ Allison’s historical analysis led him to posit a ‘Thucydides Trap’ and the danger (if not inevitability) of war between a rising China and a dominant America, like the ancient conflict between Athens and ...

It could be a bond market correction, or the start of a rout, or the seeds of a full-blown tantrum. But it’s none of these. In Europe, it’s just overdone. The fixed-income selloff has missed the fact that nothing fundamental has happened on the economic data front, or even politically — we’ve just been talked at by central bankers getting ...

Clean coal, always dubious as a concept and never proved as a reality, has now failed as business proposition. Southern Co. has decided to stop work on a process that would have captured carbon dioxide emissions from a coal plant in Mississippi. Giving up on the project, which was nearly $5 billion over budget and three years behind schedule, makes ...

The first task for the Brexit negotiators is to agree on the rights of European Union citizens in Britain, and of UK citizens in the EU. In a rational world, this would be straightforward. In the real world, it will be a problem if one side or the other chooses to make it one. Roughly 3.2 million EU citizens live ...