Bloomberg The international jewellery business that’s part of the empire controlled by Nirav Modi, the billionaire accused of masterminding India’s biggest bank fraud, was driven towards US bankruptcy protection after Indian authorities began seizing and freezing assets. The company’s attorney outlined that background at a Manhattan federal bankruptcy court hearing. Modi, the chief executive officer of the parent company of ...

Bloomberg The world’s biggest labour market will soon get its first regularly updated monthly jobless rate similar to closely-watched gauges in other major economies like the US and Europe. Monthly updates of China’s survey-based urban unemployment rate will be released from April, the country’s National Bureau of Statistics said. Until now, the only regular official unemployment rate has been a ...

Bloomberg PE firms including Warburg Pincus are vying with suitors across Asia for control of a TPG-backed Indonesian consumer finance company, people with knowledge of the matter said. Taiwan’s Cathay Financial Holding Co. and South Korea’s Shinhan Financial Group Co. are among first-round bidders for a stake in PT BFI Finance Indonesia, said the people, who asked not to be ...