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Germans can be relentless at beating themselves up. When it comes to their auto industry, this tendency may be getting out of hand. The latest scandal for German automakers started with a cover story in the respected newsweekly Der Spiegel, which suggested that Volkswagen, Daimler and BMW have operated as a cartel since the 1990s. It described how the companies ...

Bloomberg US stocks extended all-time highs as corporate earnings bolstered optimism about the strength of the global economy, lifting commodities. Bonds bounced as investors waited for clues on the fate of the Federal Reserve balance sheet. The S&P 500 Index advanced as results lifted stocks from AT&T Inc. to Boeing Co. Asian and European benchmark equity indexes rose, while crude ...

DUBAI / Reuters Major Middle Eastern stocks markets were mixed in narrow ranges on Wednesday as caution over companies’ upcoming second-quarter earnings announcements outweighed the positive effect of a rebound in oil prices. Brent crude futures rose 40 cents to $50.60 a barrel by the afternoon after rallying more than 3 percent on Tuesday. But many investors are preoccupied with ...

Bloomberg The Bank of England took aim at a European Union plan to boost supervisors’ powers to stop cash leaving ailing lenders, adding its weight to mounting criticism of a bill intended to make sure big banks can be wound down without wreaking havoc on the economy. The BOE warned of “very serious consequences” if lawmakers adopt an EU bill ...

Bloomberg The China bond carry trade is making a comeback. The offshore yuan’s 12-month forwards’ implied yield — a measure of the cost to protect against currency swings — has fallen below the yield on bonds issued by China Development Bank. This means that a global fund can make money by buying the debt while being insured against any sudden ...

Bloomberg Indonesia moved a step closer to hunting down tens of billions of dollars it believes its citizens have hidden abroad after passing a law that will give tax officials access to financial data held by other countries. The parliament on Wednesday approved a law in lieu of a presidential decree, fulfilling a requirement to participate under the Organisation for ...

Bloomberg Banks planning to shift parts of their operations from London to other European cities because of Brexit will have to increase salaries because of a skills shortage, according to the head of a recruitment company. Robert Walters, founder and chief executive officer of the eponymous company, said any banks hoping to move work to European cities such as Frankfurt ...

Bloomberg Cell C Pty Ltd. plans to raise as much as $464 million from the sale of two bonds as part of the South African mobile-phone company’s recapitalisation that will enable Blue Label Telecoms Ltd. to buy a stake, according to two people familiar with the matter. The country’s third-largest wireless carrier will sell $184 million of three-year senior secured ...

Bloomberg UniCredit SpA, Italy’s No. 1 bank, said hackers accessed about 400,000 client bank accounts in Italy, taking biographical and loan data in one of the biggest breaches in Europe to date. The breaches occurred in September and October of 2016 and June to July of this year, the bank said on Wednesday in an emailed statement. Unauthorised access through ...

Bloomberg Malaysia Airlines Bhd. is in talks with potential investors for new charter flights to carry Muslim travelers on the annual Hajj pilgrimage, a service planned to give a new lease of life to surplus A380 superjumbos at the unprofitable carrier. The carrier will apply for a license with Malaysian authorities this quarter and expects the service — a separate ...