Bloomberg Alibaba Group Holding Ltd.’s on- demand services unit is close to securing $1.2 billion of funding for expansion after getting backing from first-time investors including Silver Lake Management and China’s sovereign wealth fund, people familiar with the matter said. The latest round for Koubei, which deals in local services such as food delivery, will surpass a $1 billion …

  Bloomberg Shareholders of Tata Motors Ltd. voted to oust independent director Nusli Wadia from the automaker’s board, bringing the owner of Jaguar Land Rover closer to parent Tata Sons Ltd., the holding company of India’s largest conglomerate. About 71 percent of the investors who voted agreed to remove Wadia at a special shareholder meeting in Mumbai on Thursday, according …

  Bloomberg Coal’s recovery was one of the biggest surprises in commodities this year, but it’s all poised to end as output rises from China, producer of half the world’s supply. After half a decade of declines, European prices rebounded more than 80 percent as China, also the world’s biggest consumer of the fuel, boosted imports. Benchmark month-ahead contracts will …