Bloomberg India invested a record 1.16 trillion rupees ($18 billion) in the financial year ended in March, to develop highways and improve road connectivity across the nation, according to a statement from Ministry of Road Transport and Highways. Prime Minister Narendra Modi’s administration spent 44 percent more than a year ago on building roads. The government plans to construct 83,677 ...

Bloomberg China will respond to any tariffs imposed by the US against alleged violations of intellectual property rights with the same proportion, scale and intensity, said its US ambassador Cui Tiankai. Cui’s comments, in an interview with state-run CGTN English news channel on Tuesday, are the first to indicate that China will retaliate on a scale that matches US plans ...

Bloomberg Toshiba Corp. is sticking with its plans to sell its memory chip unit despite regulatory hurdles, said Nobuaki Kurumatani, who took over as the chief executive officer and chairman of the Japanese electronics maker this month. It would take “substantial material” changes for the company to invoke its right to terminate its sale agreement with a group led by ...

Bloomberg China’s trial programme for encouraging technology giants like Alibaba Group Holding Ltd. to list their shares at home is drawing positive early reviews, a sign their stocks may soon be available in the world’s most populous country. Lei Jun, co-founder and chief executive officer of smartphone maker Xiaomi Corp., voiced support for the effort to allow companies to issue ...

Bloomberg John Flannery’s reshaping of General Electric Co. is getting underway. After taking the helm in 2017, the chief executive officer promised to shed businesses from lighting to locomotives in a bid to simplify the beleaguered manufacturer. Complexity, he said, was at the root of many of GE’s problems. He started following through April 2 when one of the company’s ...

Bloomberg The Trump administration announced that fuel-efficiency regulations for cars and light trucks are too stringent and must be revised, beginning a process sought by the US auto industry to pare anti-pollution targets. The EPA also said it was considering whether to revoke the waiver that allows California to set its own, tougher emissions rules. The national greenhouse gas emission ...

Bloomberg Walt Disney Co. offered to buy Sky News to help Rupert Murdoch’s 21st Century Fox Inc. win over UK regulators reviewing Fox’s 11.7 billion-pound ($16.5 billion) acquisition of broadcaster Sky Plc. Disney is interested in acquiring Sky News regardless of whether its larger $52.4 billion takeover of most of Fox goes through, guaranteeing the editorial independence of the operation, ...

Bloomberg Blackstone Group LP said its female employees in the UK earn an average of 30 percent less than male colleagues, providing a rare glimpse into the gender pay gap in the private equity (PE) industry. Although more than 400,000 people work in private equity in the UK, most of the firms have fewer than 250 employees, exempting them from ...

Bloomberg The American consumers who were stretching themselves to buy or lease a new car are starting to go missing from showrooms. Rising interest rates and new-vehicle prices are squeezing shoppers with shaky credit and tight budgets out of the market. In the first two months of this year, sales were flat among the highest-rated borrowers, while deliveries to those ...

Bloomberg President Donald Trump says the US will withdraw troops from Syria “very soon.” He’s also vowed to counter Iran’s influence throughout the Middle East. Doing both at the same time may be impossible. Trump’s off-the-cuff aside at a rally in Ohio last week — “We’re knocking the hell out of IS. We’ll be coming out of Syria, like, very ...