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Bloomberg Indian PM Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy. The fiscal plan — delivered by finance minister Nirmala Sitharaman — proposed tax cuts for individuals and wider deficit targets, but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and ...

Bloomberg Prosecutors in Tokyo issued a fresh warrant for the arrest of ex-Nissan Motor Co Chairman Carlos Ghosn, who jumped bail and fled the country last month to escape trial for alleged financial crimes. The Tokyo District Public Prosecutors Office issued the warrant on Ghosn for illegally departing Japan, where the former auto executive was charged with failing to fully ...

Bloomberg Huawei Technologies Co is in talks about investing in European tech startups and contributing to research in a bid to secure its supply chain as tensions with the US escalate, people familiar with the matter said. In the final weeks of 2019, Huawei executives visited startups and venture capital firms in countries including Germany and France, they said. The ...

Bloomberg Samsung Electronics Co reported a 38% decline in profit due to falling memory chip prices, a warning sign for the global technology industry as it navigates trade tensions and the coronavirus outbreak. Net income tumbled to 5.23 trillion won ($4.4 billion) for the three months ended in December, compared with the 5.31 trillion won average of projections. The miss ...

Bloomberg Uber Technologies Inc has suspended 240 user accounts in Mexico to contain the potential spread of coronavirus. The users suspended had ridden with two drivers who came into contact with a possible coronavirus case, according to a statement posted to the company’s Mexican Twitter account. To date, there have been no confirmed cases of the virus in the country. ...

Bloomberg Twelve hours after the UK formally left the European Union, the bloc’s poorer members gathered in an old Franciscan convent in southern Portugal to rally against a looming budgetary shortfall that’s partly due to the loss of British contributions. Brexit is deepening the rift between richer and poorer EU states as they clash on the bloc’s trillion-euro ($1.1 trillion) ...

Bloomberg The libertarian financial website Zero Hedge was permanently suspended from Twitter after it published an article questioning the involvement of a Chinese scientist in the outbreak of the deadly novel coronavirus. On its website, Zero Hedge’s pseudonymous author “Tyler Durden” said he received a notification from Twitter that he had violated “our rules against abuse and harassment.” Earlier, BuzzFeed ...

Bloomberg Elon Musk’s fortune swelled by $2.3 billion in the span of an hour after shares of Tesla Inc soared in extended trading on stronger-than-expected fourth-quarter earnings and an accelerated timetable for the new Model Y crossover SUV. The electric-vehicle maker’s stock, which closed at $580.99, surged 12% to $649 at New York, boosting the chief executive officer’s net worth ...

Bloomberg In July of 2017, International Business Machines Corp executive Arvind Krishna walked into a routine meeting with senior leaders and delivered a surprise pitch that changed the course of the iconic 108-year-old company’s future. For months Krishna, the head of IBM’s cloud computing division, had been thinking about a way to connect clients’ most important data, which was often ...

Bloomberg The Arab League should adopt a united stance towards US President Donald Trump’s Mideast plan, which is unlikely to achieve peace and stability for Palestine and Israel, its Secretary General Ahmed Aboul Gheit said. “Today’s meeting is a message that the Palestinians are not alone,” Gheit said on Saturday at the start of an emergency meeting of Arab foreign ...