Bloomberg Aussies are buying Bentleys, BMWs and Mercedes in record numbers even as living standards fall in a sign that rising inequality seen in the developed world is spreading Down Under. Top-end car sales surged to a record 104,277 in the 12 months through July, a 15.7 percent increase on the same period a year earlier, according to an …

  Bloomberg Steel production in China, the world’s biggest supplier, will probably contract this year and shrink further in 2017 as local demand slows, hurting the outlook for iron ore, according to Li Xinchuang, a vice chairman at the China Iron & Steel Association. “There will be significant declines in the next three months,” said Li, who’s also dean of …

  Bloomberg India’s ample coal stockpiles may blunt the power of unions planning a strike at Coal India Ltd., the world’s biggest miner of the fuel. Labor groups including All India Coal Workers’ Federation are demanding the company start early wage talks and begin recruiting to fill vacancies, as well as calling on the government to stop selling its shares …