Bloomberg Infrastructure Leasing & Financial Services Ltd. (IL&FS) is missing more debt obligations, even as the Indian government pledged to prevent further defaults, underscoring the challenges its new board faces in fixing the firm’s mounting debt problems. IL&FS failed to service principal and interest on loans from banks, inter-corporate deposit and commercial papers totaling Rs 33.9 crore due for the ...

Bloomberg Carmakers are discovering there are limits when it comes to influencing European Union climate policy. A decade after the EU crafted its first caps on carbon dioxide from autos by heeding manufacturers’ calls to go easy, the bloc will likely ignore similar pleas regarding the next set of proposed reduction targets. Slated for 2025 and 2030, these limits will ...

Bloomberg The UK’s painful pay squeeze in the aftermath of the financial crisis helped save 800,000 jobs, according to new research. A report published by the Resolution Foundation showed that real average earnings in the UK fell by about 7 percent between 2009 and 2014, the equivalent of a 1 billion-pound ($1.3 billion) weekly wage loss. Still, that pain saved ...