Bloomberg

Volkswagen plans mass-market affordable electric car: Lines up $50 billion investment

With the new record through 2023, the German carmaker is highlighting the huge stakes in moving from the combustion era into an electric future.

Car News

Crude oil prices rise on expected OPEC cut, but markets remain wary

Oil prices rose on Monday as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards the end of the year.

Commodities News

JK Rowling’s ‘Fantastic Beasts’ Gives Warner Bros. Another Win

The opening demonstrates the staying power of J.K. Rowling’s Harry Potter universe -- a key franchise for AT&T Inc.’s Warner Bros.

Entertainment News

Xiaomi Has Chance to Justify Lofty Valuation After 23% Slide

Xiaomi Corp. trades at valuation multiples similar to internet giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd. Whether that’s justified could become clearer when the smartphone maker reports results.

Markets News

China’s Chain of Debt Guarantees Looms as Systemic Danger

Private companies have long had to be innovative in getting financing in Communist-run China, where state-owned enterprises have had preferential access to the banking system.

Economy News

Tata won’t secure Jet Airways

There is such a strong downward pressure on ticket prices that even a rate of passenger growth that is outstripping the capacity of India’s domestic aircraft hasn’t been enough to drive up average fares.

jet airwaqys, aviation sector, aviation industry News

Cape Town grapples with rising homelessness as economy flags

A stream of homeless people wends its way to a fenced-off stretch of tarmac under a bridge in Cape Town’s Foreshore district around sunset to bed down on rows of wooden pallets beneath sheet-metal shelters.

World News

Wharton Professor Amir Yaron Confirmed as Bank of Israel Chief

Amir Yaron, a finance professor at University of Pennsylvania’s Wharton school of business, was confirmed Sunday as Bank of Israel governor, with his start date to be set in coming days.

Economy News

Israel Economic Growth Accelerates to 2.3 percent in Third Quarter

Israel’s economy grew 2.3 percent in the third quarter of the year, driven by private consumption and increased public spending, the Central Bureau of Statistics said Sunday.

Economy News

GAM said to offer star fund managers special retention bonuses

GAM Holding AG is offering a special retention bonus to key fund managers, people with knowledge of the matter said, the latest measure by the asset manager to contain a crisis that’s seen investors pull money and the share

Industry News

The oil price is now controlled by just three men

OPEC has lost what control of the oil market it ever had. The actions (or tweets) of three men — Presidents Donald Trump and Vladimir Putin and Crown Prince Mohammed Bin Salman — will determine the course of oil prices in

Commodities News

US VP Mike Pence’s sharp China attacks fuel fears of Cold War dividing Asia

Since the Soviet Union fell in the early 1990s, Southeast Asia has sought to avoid getting caught in a fight between major powers. The Trump administration is making that position look increasingly untenable.

mike pence, us vp, china, cold war, fuel fears, fuel sanction, economy news

Emmanuel Macron’s popularity slides to lowest since taking office

Emmanuel Macron’s popularity has dropped to its lowest level since the French president took office 18 months ago.

World News

Big question for India: Can Central Banks go broke?

Former Bank of England policymaker Willem Buiter posed that question in early 2008, and it’s currently the biggest challenge facing his long-time research collaborator Urjit Patel, the Reserve Bank of India governor.

Economy News

US China Trade War will produce ‘No Winners,’ China’s President Xi Jinping Tells APEC

China’s President Xi Jinping said a trade war will produce “no winners” and called for nations to uphold a rules-based order led by the World Trade Organization.

World News

Mike Pence-Xi Jinping showdown at APEC shows US-China divide only widening

U.S. Vice President Mike Pence traded sharp barbs with Chinese leader Xi Jinping in back-to-back speeches at a regional summit, showing that neither country appears to be giving ground in an escalating trade war.

World News

Oil short-selling jumps in record streak as faith in OPEC wanes

Hedge funds are betting OPEC will struggle to reverse oil’s precipitous plunge.

Markets News

Facebook under lens: Senators threaten to regulate the social media platform

Facebook issued a lengthy rebuttal to the New York Times article, denying that it asked a public relations firm to pay for or write articles on its behalf or that it pushed journalists to spread misinformation.

Industry News

Mark Zuckerberg poorer by $17.4 Billion on Facebook woes

Zuckerberg, 34, who recently was the world’s third-richest person, behind Jeff Bezos and Bill Gates, is now ranked sixth on the Bloomberg Billionaires Index.

Markets News

Indian American Thomas Kurian is new Google Cloud chief

Kurian spent 22 years at Oracle, where he grew into a powerful acolyte of Executive Chairman Larry Ellison.

Industry News

RBI Board meet: Govt seeks closer supervision of the Reserve Bank, move may undermine investor confidence

The government has proposed changing rules that will enable closer supervision of the Reserve Bank of India (RBI), people with knowledge of the matter said, a move that may undermine investor confidence in the world’s faste

Economy News

GAIL mulling buying IL&FS wind assets

India’s biggest gas utility GAIL India is considering acquiring all of the wind energy assets held by a subsidiary of troubled shadow bank IL&FS, according to people familiar with the matter.

Gail Ltd, india, Dharmendra Pradhan, energy market, Bharat Petroleum Corp Ltd, Indian Oil Corp Ltd, Narendra Modi  News

Lion Air crash: Boeing sued in US, victim’s kin blames new flight-control system

Boeing has been sued in what may be the first US claim tied to the crash of Lion Air Flight 610, which dove into the Java Sea after taking off from Jakarta on October 29.

World News

A peek at the insane Formula E car that débuts next month

Extended power storage means there’s no need to swap out cars in the middle of the race anymore.

Industry News

Chip stock carnage seeps into Asia with $11-bn loss

The chipmaking sector saw another bout of selling in Asia, wiping at least $11.2 billion in market value, as weak forecasts from Nvidia and Applied Materials added to the latest signals that demand for servers, personal compu

Markets News

Facebook employee morale suffers another massive blow after share price plunge

On Thursday, Facebook Inc. employees returned to work in the aftermath of yet another corporate scandal. Getting rich has been a sore subject inside Facebook recently.

Facebook, malicious activities, facebook accounts blocked, Facebook crackdown, Instagram, Instagram accounts, Facebook accounts, Cybersecurity Policy, technology news

Walmart puts Amazon on notice with sales beat, rosy outlook

Walmart sailed into the holiday season with stronger-than-expected sales and a boosted full-year outlook, signaling that the world’s largest retailer can more than hold its own against rival Amazon.com in the critical holid

Industry News
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