Acute fiscal stress is building in India’s states and municipalities, including the urban authority that manages the richest city, Mumbai. This matters. Local bodies hold the key to lasting solutions for a broader crisis of financial resources. The federal government’s chronic deficits dominate discussions about India’s precarious public finances. It’s time to flip this New Delhi-centric approach. State government accounts ...

Allow me to let you in on a little secret: Twitter Inc. isn’t a big user of its own product. That’s right, while the company’s main account @twitter has 57.1 million followers, it follows just one other, which doesn’t make it a very engaged account holder. And its tweet frequency is relatively low — even I have sent more tweets ...

In ousting Chief Executive Officer Tidjane Thiam, Credit Suisse Group AG is taking only a first step in rehabilitating its battered reputation. A spying scandal, embarrassing revelations on how the bank is run and a public spat at the top of the company have seriously tarnished a 163-year-old Swiss banking franchise whose clients depend on its discretion. The exit of ...

Bloomberg US equity futures fluctuated and stocks in Europe and Asia declined on Monday as investors struggled to gauge the economic hit from the spreading coronavirus while preparing for more corporate earnings. Treasuries and European bonds turned higher. Contracts on the three main American equity indexes swung between modest gains and losses. Travel and oil stocks helped pull the Stoxx ...

Bloomberg India stocks fell, tracking peers across Asia, as appetite for risk remained subdued in the region. The S&P BSE Sensex declined 0.4% to 40,979.62 in Mumbai, its lowest level since February 4, while the NSE Nifty 50 Index slipped 0.6%. Markets across Asia traded in the red as investors weighed the impact from coronavirus on economic activity. Of the ...

Bloomberg The coronavirus outbreak in Asia is starting to ripple through the cryptocurrency world in some unanticipated ways — the cancellation of conferences and even the shuttering of facilities that process transactions. From the informal MeetUps held during the initial days of Bitcoin to the extravaganzas at the height of the crypto bubble, gatherings have been a key for wooing ...

Bloomberg Embraer SA’s top salesman expressed his concerns about European Union (EU) regulators for holding up an agreement to sell the company’s commercial plane business to Boeing Co. “I am better at supporting my team in designing and building and selling new aircraft than I am at the tedious environment or the structured environment of going through antitrust approval,” John ...

Bloomberg Airbus SE is in talks to buy out Bombardier Inc’s stake in the A220 jetliner program, according to people familiar with the matter. The negotiations between the companies are at an advanced stage, said the people, who asked not to be identified because the talks are private. The deal could be announced as early as this week, with both ...

Bloomberg NASA is reviewing Boeing Co’s software engineering, and it doesn’t like what it sees. Lurking behind 1 million lines of code for Boeing’s CST-100 Starliner spacecraft lies a deficient development process that led to two software flaws during a failed test flight, the US space agency said. The “critical software defects” — either of which could have caused the ...

Bloomberg Britain’s largest supermarket chain Tesco Plc is inviting Thai tycoons to the second round of bidding for its operations in Thailand and Malaysia that could fetch more than $7 billion, according to people with knowledge of the matter. Thai billionaire Dhanin Chearavanont’s Charoen Pokphand Group and Central Group, controlled by the Chirathivat family, were picked to proceed with deadline ...