Bloomberg India’s Supreme Court revived the nation’s revenue department’s bid to investigate billionaire Gautam Adani’s companies, which the agency claims got undue tax benefits by overvaluing coal imports. A three-judge bench headed by Chief Justice SA Bobde on Wednesday put on hold a lower court’s ruling, effectively allowing the revenue office to seek information on the case from overseas. The ...

Bloomberg Samsung Electronics Co’s quarterly earnings beat estimates after memory chip prices began to climb out of a persistent downturn. The world’s largest memory chip maker reported a 34% fall in operating income to 7.1 trillion won ($6.1 billion) in the three months ending December, according to preliminary results released on Wednesday by the Suwon, South Korea-based company. That compares ...

Bloomberg China’s wealthy families are twice as likely as global peers to have made their millions in real estate, according to a report co-authored by UBS Group AG, which found an increasing focus on wealth preservation and succession. Almost 30% of participants surveyed said their family wealth came from property, followed by consumer discretionary and industrials. The swelling ranks of ...

Bloomberg Iran fired more than a dozen missiles at US-Iraqi airbases in retaliation for an American airstrike that killed a top Iranian general, yet the potential for a dramatic escalation was mitigated by the fact that there were no US casualties. A US official said guided missiles were used in the attacks, and Iran appeared to be shooting to miss. ...

Bloomberg With the world on edge over rising tensions in the Middle East, one leader seems unfazed: Russia’s Vladimir Putin. The Russian president arrived in Damascus in just his second visit to Syria since the start of the country’s civil war nearly nine years ago. The timing is significant. The US and its allies are assessing the damage after Iran ...

Bloomberg If Kim Jong-un needed another reminder about the risks of bargaining away North Korea’s nuclear weapons programme to the US, President Donald Trump’s decision to kill one of Iran’s top commanders provides one. The killing of Iranian General Qassem Soleimani reinforces the North Korean view that the US only takes such actions against states that lack a credible nuclear ...

Bloomberg Venezuelan opposition leader Juan Guaido reclaimed the National Assembly that he heads, pushing past armed guards two days after President Nicolas Maduro’s loyalists blocked him from attending his own re-election. Guaido and his allies burst through the legislative palace’s doors minutes after a pro-government group led by lawmaker Luis Parra, who had claimed the presidency of the body, scurried ...

Bloomberg Boris Johnson will have to choose which areas he wants to focus on if he’s to get an agreement on the UK’s future relationship with the European Union before his year-end deadline, the European Commission president said. In her first major intervention on Brexit since she took up her post on December 1, Ursula von der Leyen said the ...

My main prediction for 2020, if it can be called a prediction, is trend exhaustion: For the first time in a long while, several important trends have come to an end. What do I mean by that? Trends ebb and flow, of course, but at any given moment many of them embody one of two distinct states: momentum, or reversion ...

The past decade experienced a revolution in how the Federal Reserve conducts monetary policy. While new tools such as quantitative easing have received the most attention, just as significant have been the changes made in how the Federal Open Market Committee sets and controls the level of short-term interest rates. Before the financial crisis, the Fed controlled short-term rates by ...