Bloomberg India tightened rules to prevent errant founders from misusing an 11-month-old bankruptcy law to regain control of delinquent companies that are being sold. Founders of companies whose borrowings have been classified as non-performing for a year or more and that are unable to pay overdue amounts, including interest and charges, are barred from repurchasing their assets, the corporate affairs ...

Bloomberg China’s new plan to slash import taxes on a wide range of consumer goods promises to boost the prospects of multinationals in the Chinese market, with everything from the likes of Procter & Gamble Co.’s diapers to other items becoming more affordable to local consumers. Tariffs for 187 product categories will drop from an average 17.3 percent to 7.7 ...

Bloomberg Uber Technologies Inc. asked the UK Supreme Court to rule on its appeal over whether it has to pay drivers for overtime and during vacations. Lawyers for the company filed a permission to appeal application that would see the issues skip the Court of Appeal entirely, an Uber spokesman said. Uber has lost at two separate courts in the ...

Bloomberg A high-stakes legal clash is unfolding over President Trump’s temporary pick to run Elizabeth Warren’s favourite bank regulator, and the White House is holding its ground. Trump said he’s naming White House budget director Mick Mulvaney to be the temporary head of the Consumer Financial Protection Bureau (CFPB). The announcement came hours after outgoing CFPB Director Richard Cordray said ...

Bloomberg Elon Musk knows how to make promises. Even by his own standards, the promises made while introducing two new Tesla vehicles—the heavy-duty Semi Truck and the speedy Roadster—are monuments of envelope pushing. To deliver, according to close observers of battery technology, Tesla would have to far exceed what is currently thought possible. Take the Tesla Semi: Musk vowed it ...

Bloomberg The UK is close to running out of time in its divorce negotiations with the European Union and would be set back by missing a December deadline to resolve several thorny issues, Scottish Conservative Party leader Ruth Davidson said. Failing to resolve issues such as the status of the Irish border and the payment from the UK would further ...

Bloomberg Premier Annastacia Palasz-czuk’s Labor Party is favoured to be returned to power in the Australian state of Queensland as counting continues in a weekend election that hangs in the balance. While analysts projected her party would win the highest number of seats, the result may not be known for days and the final tally could mean both major parties ...

Bloomberg Ousted Catalan President Carles Puigdemont pitched his candidacy ahead of next month’s regional election, doubling down on his pledge to make the region an independent state. Puigdemont, who maintains he’s the legitimate regional president after being sacked by the central government, will lead a new platform under the banner of Together for Catalonia. He said a victory at the ...

Bloomberg The US escalated its criticism of Pakistan’s decision to set free the alleged mastermind of the deadly 2008 attacks in Mumbai, with the White House warning that the move may damage bilateral relations. Hafiz Saeed, who allegedly planned attacks that left 164 people dead, had been detained at his house in Lahore without charges since January. A Pakistan High ...

Bloomberg Pakistan has called in the army to take control of violent demonstrations in the capital city, where protesters and police were killed in day-long clashes. The army moved in as a “preventive measure” after police suspended an operation to disperse a protesting religious group following the death of two officers, according to Interior Minister Ahsan Iqbal. Six protesters also ...