Europe wants US tech giants to pay more taxes, but it’s been oddly reticent about the cosy and highly unusual tax arrangements of one of its own dominant industries: container shipping. Given the outsized profits the industry is generating, the current regime is unsustainable. Freight rates have soared in the past two years as pandemic disruption and surging US demand ...

Space scientists have waited nearly four decades to send a taxpayer-financed spacecraft on a death plunge into the atmosphere of Venus. Rocket Lab USA Inc, a private space launch provider, announced that the wait is nearly over. But rather than rely on a government space agency to pay the fare, Rocket Lab will finance the mission itself, launching in May ...

  The latest buzzword among many economists and investors is “ noise.” It’s being used to refer to any piece of economic data that doesn’t fit the prevailing narrative, which is happening a lot these days. This economy is proving hard to understand. It is very strong in some respects and very weak in others. The official government data shows ...

  You have to hand it to Haruhiko Kuroda. Despite his caricature as a laggard in a world where interest rates are marching higher, the Bank of Japan chief was cutting-edge when seeking to exceed his inflation target. It’s just taken a while to get there. Six years, in fact. Tempting as a victory lap might be for Kuroda, who ...

  Bloomberg The billionaire founder of Paytm emerged unscathed in a crucial test of investor confidence, with a forceful majority of shareholders voting to keep him at the helm of the fintech pioneer that made one of the worst market debuts in Indian history. An emphatic 99.67% of shareholders voted to maintain Vijay Shekhar Sharma as the managing director and ...

  Bloomberg India, which cuts or polishes about 90% of the diamonds sold in the world, is ramping up sales of laboratory-made gems as demand from the US surges and they become more accepted in other markets. Exports of polished lab-grown diamonds may double in the current financial year started from April 1 from $1.3 billion in the prior year, ...

  Bloomberg Singapore’s inflation is seen to remain elevated until the first quarter of next year and the central bank will probably tighten further at the October review, according to a Bloomberg survey of economists. Headline and core inflation forecasts show a quickening into yearend, before both measures start to ease in the January-March period and slip below 4% from ...

  Bloomberg API Holdings Ltd, owner of India’s largest online pharmacy PharmEasy, has withdrawn its preliminary filing for an initial public offering, citing market conditions and strategic considerations. The Mumbai-based company is planning to raise funds via a rights issue for convertible preference shares, according to an announcement to investors seen by Bloomberg News. The price is expected to be ...

  Bloomberg Sichuan’s worst drought in more than a half century spurred the Chinese province to extend industrial power cuts and activate its highest emergency response, adding to manufacturers’ woes as they shut down factories in the region. Temperatures above 40 degrees Celsius (104 degrees Fahrenheit) and scant rainfall, along with surging demand for air conditioning, have caused gaps in ...

  Bloomberg The US and South Korea began on Monday their biggest joint military exercise in about five years, after a hiatus on large-scale drills failed to entice North Korea’s Kim Jong Un to make concessions in disarmament talks. The drills known as Ulchi Freedom Shield are expected to involve thousands of military personnel, and will run for two weeks. ...