Another Indian bank has failed, the third collapse of a major deposit-taking institution in 15 months and the first since the onset of the coronavirus pandemic. But instead of allowing a zombie lender to linger after a half-baked rescue, the central bank has wisely decided to put Lakshmi Vilas Bank Ltd out of its misery. Better still, it’s called upon ...

Bloomberg The US Securities and Exchange Commission (SEC) is pushing ahead with a plan that threatens to kick Chinese companies off US stock exchanges, setting up a late clash between Washington and Beijing as the Trump administration winds down. By the end of this year, the SEC intends to propose a regulation that would lead to the delisting of companies ...

Bloomberg Prime Minister Narendra Modi is keen to attract foreign investment to modernise India’s urban centers as the world’s second-most-populous nation rebuilds its economy after the coronavirus pandemic halted activity. Covid-19 has given governments the chance to accelerate the “process of making cities more livable for people,” Modi said in his speech at the Bloomberg New Economy Forum. “We are ...

Bloomberg The South Korean won’s rally faces resistance as it tests 1,100 versus the dollar, a level that some economists see as a red line for the nation’s export competitiveness. Warnings from authorities are becoming forceful as the won quickly approaches this level. It retreated from around 1,105 after a finance ministry official described recent currency moves as excessive and ...

Bloomberg Art Basel Hong Kong, one of the most prestigious art fairs in Asia, is postponing its show as the global pandemic has upended international travel, the organisers said Tuesday. The fair will take place from May 21-23 instead of the usual March period, with VIP preview days starting on May 19. This year, Art Basel Hong Kong became the ...

Bloomberg India’s macroeconomic troubles are attracting a new wave of global investors betting they can eke out profits from the rising number of capital-starved businesses struggling to stay afloat. Some global heavyweights like Apollo Global Management Inc and Oaktree Capital Group have either struck recent India deals or scaled up their teams in the country in a push to invest ...

Bloomberg President Donald Trump’s lawyer Rudy Giuliani described at length to a federal judge in Pennsylvania a vast but vague Democratic conspiracy to steal the election that justified the invalidation of hundreds of thousands of votes — enough to flip the state from President-elect Joe Biden to Trump. But US District Judge Matthew Brann cut straight to the heart of ...

Bloomberg Taiwan’s broadcast regulator has ordered the closure of one of the island’s most ardently pro-China cable news networks following a month-long battle over journalistic standards and freedom of the press. The National Communications Commission (NCC) will not renew the broadcast license of Chung T’ien News, its chairman Chen Yaw-shyang said at a briefing in Taipei on Wednesday. The station ...

Bloomberg Thailand’s parliament rejected a push by pro-democracy groups for a constitutional amendment to reduce the powers of the nation’s monarchy, potentially escalating a monthslong anti-government protests. The lawmakers instead voted for setting up a charter rewriting committee that will skip any review of chapters governing the monarchy, the most powerful institution in Thailand. The roadmap for amendment proposed by ...

Bloomberg People in England should prepare for tough coronavirus restrictions in December and January if the rules are to be relaxed for a short period over Christmas, a public health chief said. Susan Hopkins, deputy director of Public Health England, said government scientific advice has shown “for every day that we release [measures] we will need two days of tighter ...