Bloomberg Business

Hon Hai Precision Industry Co. said it expects to multiply its sales of electric vehicle components this year while weathering cooler consumer spending on technology.

BMW AG expects 2023 profit margins around last year’s level as sales of its most expensive vehicles like the 7-Series offset weaker pricing for entry-level luxury models.

HKBN Ltd. is attracting interest from private equity firm PAG, people familiar with the matter said, setting up a potential bidding war with I Squared Capital for the Hong Kong broadband provider.

PricewaterhouseCoopers LLP has introduced a chatbot service for its lawyers, joining the ranks of professional services firms using artificial intelligence to boost productivity.

India’s Reliance Industries Ltd. has shifted most of its oil traders from Mumbai to Dubai, executing a plan announced in 2021, but which now coincides with the city’s growing stature as a commodities hub after Russia’s war in Ukraine.

Saudi Arabia believes its economy can decouple so much from oil that crude prices soon won’t be a decisive factor in shaping fiscal policy.

Global oil markets are contending with a surplus as Russian production defies predictions of a slump while fuel demand slowly picks up, the International Energy Agency said.

(Bloomberg) — One trader is betting that European policymakers will slash borrowing costs below 1% next year in a dramatic U-turn.

China can match the US in artificial intelligence thanks to the expertise of companies from Alibaba to Baidu, joining a global tech transformation that will dwarf the mobile revolution, according to industry pioneer Kai-Fu Lee.

(Bloomberg) — Vietnam’s central bank unexpectedly cut the rate at which it lends to banks, underscoring the need to support the economy amid a bleak global outlook and slowing domestic demand.