When naming his telecom foray in 2016, Mukesh Ambani chose the mirror image of OIL, the commodity that has made him India’s richest man. In hindsight, Jio was a good choice. The week that oil prices turned negative, the refining tycoon won a $5.7 billion investment from Facebook Inc for his digital assets, Jio Platforms Ltd. Like his wordplay, the ...

After decades of bitter fights, environmentalists seemed to be winning the war against single-use plastics in recent years, with cities around the world banning or taxing them. Then the coronavirus arrived, raising fears that reusable goods might lead to infections. The impact has been swift. From Maine to Hawaii, plastic-bag bans have been suspended or postponed. In San Francisco, reusable ...

So a deal was reached on the bill to supplement the money for small business and other new pandemic relief. Congressional Republicans had wanted $250 billion for the Paycheck Protection Program for small-business loans. The final bill added up to a $480 billion package, with Democrats winning aid for hospitals and increased coronavirus testing, plus provisions for smaller banks to ...

Aviation has always carried a whiff of the pirate ship about it. Richard Branson, founder of Virgin Atlantic Airways Ltd, likes to describe himself as an “adventurer and troublemaker,” and once claimed to have found buried treasure on his private Caribbean island as a prank. Right now, the buccaneering executives who have driven the airline industry since the 1980s, when ...

China’s high-end consumers aren’t going on a “revenge spending” spree. They’re just bringing their love affair with luxury brands home. A surge in China sales for stores operated by the likes of LVMH and Hermes International has spurred optimism that consumer demand will snap back as the lockdowns lift. The reports offered a glimmer of light amid data showing that ...

For most of the nation’s history, the idea that people over the age of 65 would voluntarily herd themselves into special communities built around their needs would have seemed absurd, even dystopian. Yet a largely voluntary movement towards segregating people by age has reached extreme levels in recent years — and without receiving much attention at all. The coronavirus outbreak ...

Bloomberg Stocks rose on Wednesday with US equity futures as investors monitored continued volatility in energy markets and earnings reports that haven’t been uniformly negative. Oil prices renewed their slide. The Stoxx Europe 600 Index opened higher, with gains in tech and telecom shares countering declines in energy companies. Stocks slipped in Japan but climbed in most other major Asia ...

Bloomberg The top investment adviser to rich Indians is asking its wealthy clients to desist from loading up on equities even as the nation’s stock indexes get back into bull territory. “We are maintaining the view that this is a very uncertain environment, and hence, investors must not make impulsive decisions,” Shobhit Mathur, a director at Kotak Investment Advisors Ltd., ...

Bloomberg Bad debt at Chinese banks climbed in the first quarter even as lenders deferred payments on and rolled over a combined 1.5 trillion yuan ($212 billion) in loans after the coronavirus outbreak brought the world’s second-largest economy to a standstill. After allowing banks to take a more lenient approach on how they classify bad debt, regulators in Beijing on ...

Bloomberg Kotak Mahindra Bank Ltd. plans to issue as many as 65 million shares in a move that will strengthen its capital buffers and reduce the stake held by its wealthy founder. The Mumbai-based lender didn’t provide details of the pricing of the new shares in its filing on Wednesday. However, under a regulatory formula, they should be priced around ...