Bloomberg Billionaire T. Ananda Krishnan’s Aircel Ltd. has asked an Indian court to initiate bankruptcy proceedings as it’s unable to repay about 500 billion rupees ($7.7 billion) of dues. The mobile carrier owes about 150 billion rupees to secured financial creditors and the rest to operational unsecured creditors, including those who provided it goods and services, Janak Dwarkadas, a lawyer ...

Bloomberg Kobe Steel Ltd. President Hiroya Kawasaki will resign after Japan’s third-biggest steelmaker said an independent investigation into its faked data scandal found further instances of misconduct. Kawasaki, 63, will step down on April 1 and his successor will be selected in coming days, the company said. Kobe’s executive vice president and chief of its aluminum and copper unit, Akira ...

Bloomberg Toyota Motor Corp. announced plans to drop diesel models from its European portfolio this year even as Volkswagen, which sparked the fury over the technology, predicts a rebound. The diverging views of the world’s two largest automakers reflects the uncertainty over the future of diesel, which has faced a steady drumbeat of bad news since Volkswagen’s cheating scandal erupted ...