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Bloomberg These are great times for China’s gargantuan steel industry as product prices soar to multi-year highs, mills’ profits swell and speculators stake out record positions in futures markets in the country that makes half of global supply. They could be over soon. While demand in Asia’s top economy has remained strong, “as the property market cools and investment growth ...

Bloomberg India is considering a proposal to lift a cap on investment by foreign retailers in local supermarkets, according to people with the knowledge of the matter. A meeting led by Prime Minister Narendra Modi may decide on a proposal to allow 100 percent investment by retailers such as Wal-Mart Stores Inc. and Carrefour SA if they agree to sell ...

Bloomberg The US will seek to use a United Nations fund designed to aid nations hard hit by climate change to promote the construction of coal-fired power plants around the world. The US already donated $1 billion to the so-called Green Climate Fund, and it can now use its seat on that board to advance American-energy interests globally, a White ...

Bloomberg Uber Technologies Inc. shareholders and its board, led by early backer Benchmark, have discussed selling some of their shares to SoftBank Group Corp. and other potential investors, people familiar with the matter said. The talks represent a major turning point for the company. It has amassed more than 500 investors who fought to own a piece of the world’s ...

Bloomberg The long-running trade dispute over softwood lumber may be nearing an end, with Canada indicating it wants to settle the issue with the US before the renegotiation of the North American Free Trade Agreement begins later this year. “We’re going to continue to work very hard towards that,” Canadian Prime Minister Justin Trudeau said to reporters in Providence, Rhode ...

Bloomberg European car demand rose at a slower pace in June as fewer selling days in Germany and Brexit-related concerns in the UK weighed on a peaking vehicle market. Industrywide registrations increased 2.1 percent from a year earlier to 1.54 million vehicles last month, with Toyota and Fiat models posting the biggest gains, the European Automobile Manufacturers’ Association, or ACEA, ...

Bloomberg Daimler AG said it will push back against allegations that it manipulated emissions in its Mercedes-Benz engines, as a German government pr-obe into the luxury-car ma-ker deepens. “We would employ all legal means” to defend against any accusation by the Federal Transport Motor Authority of an illegal defeat device in Mercedes-Benz cars, the company said in an emailed statement. ...

Don’t worry, the robots won’t destroy all our jobs. History suggests just the opposite — that new technologies inspire new jobs. So concludes a study from leading labor economists. It’s a useful antidote to widespread fears that robots and ‘artificial intelligence’ will displace millions of workers and lead to permanently high joblessness. No doubt, the anxiety is real. Despite a ...

If at first you don’t succeed, slash prices and try, try again. That seems to be the strategy at Facebook Inc., which said it would temporarily cut $200 from the $600 price of its Oculus Rift virtual reality goggles plus a related accessory. It’s the second time this year that Facebook has discounted Oculus gear. (The cost doesn’t account for ...

Acid attacks are catching on in Britain. The numbers may still be small relative to other violent crimes, but they’re sharply on the rise. These assaults are especially shocking — and they’re attracting feverish attention, which could inspire copycats. The government needs to act. The UK now has one of the highest rates of recorded acid attacks in the world, ...