News

Bloomberg Twelve state-owned Indian banks are petitioning for ex-billionaire Vijay Mallya to be declared bankrupt over 1.15 billion pounds ($1.52 billion) in unpaid debts. The banks and an asset restructuring company, led by the State Bank of India (SBI), have taken the tycoon to a London court in what lawyers have described as “the end of the road” in their ...

Bloomberg Singapore’s property glut is an unintended consequence of government measures to force developers to build and sell apartments quickly or face stiff penalties, according to City Developments Ltd. The city-state’s second-biggest home builder has come out swinging against a rule that imposes a levy on companies if they don’t complete construction and sell all units within a period of ...

Bloomberg Indonesia’s cabinet is discussing amending a legally imposed cap on the budget deficit, which would allow the government to spend and borrow more to stimulate growth in Southeast Asia’s biggest economy. President Joko Widodo is holding talks on the matter, although for now, the current annual ceiling of 3% of gross domestic product remains, finance minister Sri Mulyani Indrawati ...

Bloomberg Alphabet Inc’s Google isn’t liable for defamatory content posted on its platforms after 2009, India’s top court ruled, reaffirming immunity for Internet companies in the world’s second-most populous nation. The verdict, which reiterates a 2015 ruling, comes as a relief for social media companies, online retailers and service providers who are facing increasing pressure from the Indian government to ...

Bloomberg South Korea’s jobless rate ticked higher for a third month, an unexpected outcome that illustrates the challenge of boosting hiring in an economy struggling with slumping exports and weak investment. The unemployment rate climbed to 3.6% in November, seasonally adjusted data from the statistics office showed Wednesday. Economists had predicted the rate would stay unchanged at 3.5%. The jobless ...

Bloomberg China’s Huawei Technologies Co just got a seal of approval from one of Germany’s biggest telecom companies. Telefonica SA’s German unit, which operates the country’s second-largest wireless network, picked Huawei and Finland’s Nokia Oyj to take an equal role supplying its fifth-generation mobile phone network upgrade, the company said in a statement Wednesday. The deal is subject to the ...

Bloomberg Everything about the new Chevrolet Tahoe SUV is big. General Motors Co redesigned the large people-hauler to be about six inches longer to compete with the revamped Ford Expedition’s roomy third-row seat. Now it’s almost 18 feet (5.5 meters) long. The profit margin is also fat: around 20%, according to Bloomberg Intelligence analyst Kevin Tynan. The segment’s fruitfulness explains ...

Bloomberg A new analysis by Barclays Capital of about 2.4 billion taxi and ride-hailing trips in New York City addresses the biggest question investors have about Uber Technologies Inc and Lyft Inc. When will they turn a profit? The good news, according to analysts Jeffrey Meli, Adam Kelleher, Ryan Preclaw and Ross Sandler, is that Uber and Lyft are well-positioned ...

Bloomberg Big tech companies like Facebook Inc and Alphabet Inc’s Google, long seen as some of the world’s most desirable workplaces offering countless perks and employee benefits, are losing some of their shine. The Silicon Valley companies dropped out of the Top 10 “best places to work” in the US, according to Glassdoor’s annual rankings. HubSpot Inc, a cloud-computing software ...

Bloomberg Chinese officials expect the US will delay a threatened tariff increase set for Sunday as both sides focus on de-escalating tensions by cutting import taxes currently in place rather than removing specific products from the target list, according to people familiar with the matter. Beijing sees removal of the December 15 threat enabling talks to continue on the unfinished ...