Bloomberg India’s introduction of a single nationwide goods and services tax may have an unexpected consequence: prompting more companies to sell shares to the public. That’s the view of Ashishkumar Chauhan, chief executive officer of BSE Ltd., the operator of the Bombay Stock Exchange. He says smaller firms that become tax-compliant due to the levy, scheduled for implementation on July …

Bloomberg China’s official manufacturing gauge held up in May, buoyed by an improving global outlook. Manufacturing purchasing managers index remained at 51.2 for a second straight month in May, compared with a median estimate of 51 in a Bloomberg survey of economists. Non-manufacturing PMI rose to 54.5 Numbers higher than 50 indicate improving conditions. While some early indicators for May …

Bloomberg Three former Nomura Holdings Inc. mortgage-bond traders accused of cheating their customers called no witnesses in their defense against fraud charges, betting that prosecutors’ evidence is too weak to convict them. Lawyers for the three traders — Ross Shapiro, Michael Gramins, and Tyler Peters — have said they will tell jurors that the prosecution failed to prove its case …