BLOOMBERG  James Gorman, who transformed Morgan Stanley after it nearly collapsed during the global financial crisis, plans to step down as chief executive officer (CEO) within the next year and assume the role of executive chairman. “It is the board’s and my expectation that it will occur at some point in the next 12 months,” Gorman, 64, said at the ...

BLOOMBERG  China’s yuan jumped after the country’s central bank moved to shore up the currency following a recent selloff, vowing to curb speculation and calling for more stability in the foreign exchange market. The People’s Bank of China (PBOC) and the foreign exchange regulator will “strengthen market expectation guidance and take actions to correct pro-cyclical and one-way market behaviours when ...

BLOOMBERG  India is unveiling a 170 billion rupee ($2 billion) financial incentive plan to draw makers of laptops, tablets and other hardware to the South Asian nation as companies look to diversify supply chains beyond China. Prime Minister Narendra Modi is capitalising on the early success of Apple Inc’s local assembly operations — which have helped the US company produce ...