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Bloomberg At Area 15.1 of the sprawling Canton Fair in the southern Chinese city of Guangzhou, exhibitors from India, Pakistan and Turkey touted their wares to global buyers last week. Their presence at the gathering synonymous with China’s rise as the world’s manufacturing powerhouse illustrates the nation’s shift from sweatshops producing cheap jeans and towels toward branded goods with better ...

Bloomberg Anthem Inc.’s nearly two-year effort to buy rival insurer Cigna Corp. is officially dead. Anthem said that it won’t appeal a Delaware judge’s ruling late that Cigna can walk away from the $48 billion health insurance merger. That leaves the companies to fight over who’s to blame for the deal’s collapse. “The only surprise here is that it took ...

Bloomberg Sprint Corp. has started preliminary conversations to merge with T-Mobile US Inc., the latest attempt to consolidate in a market watched closely by US regulators, according to people familiar with the matter. Executives of both SoftBank Group Corp., Sprint’s largest shareholder, and Sprint itself have had informal contact with T-Mobile owner Deutsche Telekom AG about a transaction, said the ...

Bloomberg Home Capital Group Inc. said it’s seeking new sources of funding to counter a run on deposits and warned a failure of the Canadian lender would have “significant knock-on effects” in the mortgage market. The struggling lender has “breathing room” to stabilize finances and pursue options following an C$1.8 billion ($1.3 billion) plunge in deposits and a 60 percent ...

With Brexit and the election of Donald Trump, there’s a widespread belief that populism is on the rise in the developed world. Writers and thinkers darkly warn of a crisis if elites don’t accede to the demands — explicit or assumed — of the working class. As I wrote in a previous post, it’s very hard to define whom to ...

Wells Fargo & Co. is having a hard time pleasing anyone. At its annual investor day, the second-largest US lender by market value lifted the targeted annual savings figure from its cost-cutting program to $4 billion from $2 billion by the end of 2019. The move, which was flagged by analysts after hints from the bank itself, comes after Wells ...

Ask Australians what they hate about their big four banks, and you get a familiar litany of complaints. Borrowing rates are too high, and deposit rates too low. Profits — almost A$23 billion ($17 billion) in the most recent fiscal year — are obscenely fat. Slick sales types promote financial products to under-informed punters without disclosing the full risks. Other ...

Bloomberg US Homeland Security Secretary John Kelly will meet with European Commission officials in Brussels next week to discuss prohibiting passengers bound for America from carrying laptops and other electronic devices in airliner cabins. Kelly talked with European commissioners Dimitris Avramopoulos and Violeta Bulc. Even though European airports and airlines are preparing for a ban, no action has been announced ...

Abu Dhabi / Emirates Business Etihad Airways, the national airline of the United Arab Emirates (UAE), on Saturday announced the appointment of Ali Ghanim Hadi as its new country manager for Sudan. Based at the airline’s Khartoum office, Hadi will be responsible for leading Etihad Airways’ commercial operations in Sudan, one of the airline’s longest-established markets. With over four years ...

Bloomberg Boeing Co. resumed flights of its new 737 Max jetliners on a limited basis Friday, setting the stage for the first commercial delivery after a potential engine flaw temporarily grounded the single-aisle aircraft. Regulators cleared the planes to fly as long as they’re powered by spare engines that don’t include the possibly defective part, Boeing spokesman Doug Alder said. ...