When you hear about economic growth, or the size of the economy, it’s referring to gross domestic product. Invented in the 1930s, GDP measures the market value of everything produced in a country (or region, or state) in a given year. When you hear about the labor market, it usually involves the unemployment rate, which is the percent of people ...

One of India’s most acquisitive companies is buying up cement kilns across the country, going from big to bigger. It’s got the right plan, but who’s buying the cement and actually building? Ultratech Cement Ltd. is one of the world’s biggest cement manufacturers, with the capacity to put out 90 million tons a year from plants sprinkled across India. It ...

The response to Jeff Bezos’s announcement of a $2 billion fund to create preschools and help homeless families has been muted if not skeptical. Some critics say that Bezos should give raises to Amazon workers first. Others argue that he should be taxed instead and the revenue put towards education. I’d like to speak up for private philanthropy, with the ...

Bloomberg The possibility of merging Deutsche Bank AG and Commerzbank AG has won the backing of German officials who are seeking a new champion that would protect the nation’s economy from an exodus of foreign capital. The government is in favour of a tie-up between its two biggest banks to create a heavyweight that would finance Germany’s export-oriented economy, according ...

Bloomberg Bank of England (BOE) policy makers have the chance this week to share their thoughts on interest rates now that Governor Mark Carney has said he’s sticking around for longer. Four members of the Monetary Policy Committee are making public appearances — including the first speeches by Dave Ramsden and Gertjan Vlieghe since officials voted to hike interest rates ...

Bloomberg Nigeria’s central bank has revoked the operating license of Skye Bank Plc. and established Polaris as a bridge bank to takeover its assets and liabilities. “The strategy is for the Asset Management Company of Nigeria, Amcon, to capitalise the bridge bank and begin the process of sourcing investors to buy out Amcon,” Central Bank of Nigeria Governor Godwin Emefiele ...

Bloomberg Bitcoin fraudsters are misusing the names of Singapore PM Lee Hsien Loong and his deputy Tharman Shanmugaratnam to tout investments, prompting a warning from the premier. “Scammers have used DPM Tharman’s and my name to solicit Bitcoin investments,” Lee said. “Don’t believe everything you see on the Internet!” Lee in a Facebook post used the crypto example to highlight ...

Bloomberg As the contentious $39 billion takeover saga for Sky Plc draws to a close, boutique banks appear poised to reap some of the richest rewards. PJT Partners Inc., Robey Warshaw LLP, Evercore Inc. and Centerview Partners are the small advisory shops that worked on the battle between Comcast Corp. and Twenty-First Century Fox Inc. for control of Sky. The ...

Bloomberg India’s prime minister is facing allegations his administration acted improperly on a multi-billion dollar warplane contract with France, keeping alive a controversial issue that could dent the ruling party’s reputation as it heads to elections next year. Francois Hollande was president when Indian PM Narendra Modi visited France and signed an $8.7 billion deal for Dassault Aviation Rafale aircraft ...

Bloomberg Pilots operating a Jet Airways India Ltd. flight forgot to turn on a switch that maintains optimal pressure in the cabin during ascent, causing injuries to some aboard. About 30 of the 166 passengers aboard the Boeing Co. 737 aircraft from Mumbai to Jaipur suffered bleeding in their noses, and a few in their ears, forcing the plane to ...