Bloomberg India has backed a multi-tier national tax regime that even in its not-so-perfect form will be a game-changer for Prime Minister Narendra Modi, who is trying to revive manufacturing and boost foreign investment in the world’s fastest growing major economy. Moving away from the ‘one market, one rate’ tax model, the Goods and Services Tax Council decided on ...

  Bloomberg China’s drive to reduce overcapacity and streamline its coal industry has sent prices of the bulk commodity soaring. Efforts initially aimed at reversing a four-year collapse and help miners repay debts have pushed coal higher and faster than anyone anticipated. The fuel burned in power stations has doubled, while the coal used in steel making has more than ...

  AFP Ousted Thai PM Yingluck Shinawatra doled out sacks of rice to hundreds of star-struck shoppers on Saturday, in her latest move to outshine junta efforts to support farmers hit by a price plunge. Tumbling rice prices have spread anguish across Thailand’s rural heartlands and sent the junta scrambling to roll out rescue packages and head off potential unrest. ...

  AP Even for a city considered one of the world’s most polluted, the Indian capital hit a new low this past week. Air so dirty you can taste and smell it; a gray haze that makes a gentle stroll a serious health hazard. According to one advocacy group, government data shows that the smog that enveloped New Delhi was ...

  Bloomberg NetSuite Inc. shareholders endorsed Oracle Corp.’s bid for the software provider, clearing the path for the $9 billion acquisition after weeks of conflict between a large investor and executives over the price tag. The deal received approval from 53 percent, or 21.78 million shares, of NetSuite stockholders that were eligible to endorse the bid, Oracle said in a ...

  Bloomberg Nestle SA’s health unit is investing $145 million for a 15 percent stake in Aimmune Therapeutics Inc., a California maker of food-allergy therapies. Nestle Health Science, a subsidiary of the Swiss food giant, will pay $19.20 a share for about 7.55 million newly issued shares of Aimmune, and the unit’s Chief Executive Officer Greg Behar will join the ...

  Bloomberg Dow Chemical Co. and DuPont Co. face further delays to their plan to create the world’s biggest chemical company after the European Commission demanded more information about the $59 billion tie-up. The European Union’s merger regulator “stopped the clock” in its in-depth investigation on Oct. 13, the watchdog said in an e-mail on Friday. This happens “if the ...

  Bloomberg Natural gas bears wagering on a no-show US winter may be in for a frosty surprise. Gas for delivery next March traded at the lowest premium on record to the April 2017 contract Friday, signaling that traders see little risk of another Polar Vortex in the months ahead. Autumn warmth has spooked the gas market, pushing prices to ...

  Bloomberg Germany’s environment minister is throwing her support behind an aggressive Chinese plan to boost sales of electric and hybrid vehicles, putting her at odds with her country’s automobile industry and some within the German government. China is considering legislation that would require automakers to sell a specific quota of zero- and low-emission vehicles. The figure would start at ...

  Bartalla / AFP Iraqi special forces threw themselves back into battle on Saturday after a first foray into Mosul was blunted by stiffer than expected resistance from extremists defending the birthplace of their “caliphate”. While the elite Counter-Terrorism Service (CTS) fought the IS group in the streets of Mosul, the army and federal police attacked one of the last sizeable ...