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Bloomberg Australia wants more from its $68 billion investment in new ships and submarines than just a more capable navy. With final bids due this month on a A$35 billion ($27 billion) contract for nine anti-submarine frigates, Defence Industry Minister Christopher Pyne said Australia is seeking a bigger role in naval shipbuilding. “From an industrial point of view, it’s a ...

Bloomberg China’s bond investors are being given the chance to ratchet up leverage once again, but they may not want to. Months of scarcity have given way to a mysterious rush of liquidity in China’s financial system, with money-market rates back near levels seen in April. The market has responded accordingly, with bonds rallying in the last two weeks of ...

Bloomberg Chinese bike-rental startup Ofo Inc. raised more than $700 million in its latest funding round to expand its business globally amid rising domestic competition with Beijing Mobike Technology Co. and more than a dozen rivals. The series E round is led by billionaire Jack Ma’s Alibaba Group Holding Ltd., Hony Capital and Citic Private Equity, according to an emailed ...

Bloomberg Japan’s economy is running the hottest relative to capacity since the global financial crisis. More than four years after the Bank of Japan launched its radical monetary easing, key conditions are aligning in its long battle to truly escape from deflation. The latest reading of the nation’s output gap is another milestone on the journey to that escape, economists ...

Bloomberg Singapore’s luxury home prices, which have been the worst hit by the government’s property curbs in recent years, are finally showing signs of a recovery, according to developer Guocoland Ltd. High-end home sales in the city-state had been on an upswing even before the government in March eased some of its cooling measures in place since 2009, according to ...

Bloomberg World leaders reached a compromise on trade at the Group of 20 summit as officials agreed to fight protectionism while tacitly recognizing US President Donald Trump’s concerns about excess steel capacity and what he says are unfair trade practices. Hours after the agreement was struck early on Saturday, the final statement nonetheless left the U.S. isolated on climate change, ...

Bloomberg Allianz SE, Europe’s biggest insurer, is partnering with Columbia Property Trust Inc. to create a $1.26 billion joint venture for US real estate. The Munich-based insurer contributed an office tower at 114 Fifth Ave. in Manhattan that’s valued at $220 million to the partnership, Allianz’s real estate unit said in a statement. Columbia added University Circle, a $540 million ...

Bloomberg Mexico is no longer the biggest buyer of corn from the US, a sign that trade tensions are pushing American grain toward other markets while its southern neighbor lines up new suppliers. Sales to Mexico through May were $1.04 billion, down 6.7 percent from a year earlier, the US Department of Agriculture said in a monthly update. That contrasts ...

Bloomberg The Trump administration is considering easing steeper fines proposed by Obama-era regulators for automakers that don’t meet tougher fuel economy standards, a move that would give a break largely to luxury brands like Jaguar, BMW and Porsche that have paid the highest penalties in the past. The National Highway Traffic Safety Administration said in a regulatory filing it will ...

Bloomberg Manhattan homebuyers found deals they couldn’t refuse in the second quarter, driving up sales of previously owned properties by the most in more than two years. Purchases of resale homes jumped 16 percent from a year earlier to 2,597, according to a report by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Buyer interest was fueled by ...