Bloomberg India’s factory output contracted for the first time in more than two years in August, as a sharp fall in capital goods and consumer durables production weighed on activity. The index of industrial production fell 1.1% in August, data released by the Ministry of Statistics showed Friday. That compares with an estimate for a 1.7% expansion. The decline, last ...

Bloomberg Singapore will spend more than S$1 billion ($728 million) on upgrading projects for public and private housing estates over the next few years, Minister for National Development Lawrence Wong said in a speech, according to the Straits Times. The projects will cushion industry partners in the current economic climate, he said at an annual gathering for the ministry, according ...

Bloomberg The tumultuous saga of former Indian billionaires Malvinder and Shivinder Singh seems to be entering a decisive stage. Scions of one of the nation’s most prominent business families, the Singh brothers were arrested and brought into a New Delhi trial court to face charges of fraudulently diverting nearly $337 million from a lender they controlled. The arrests send a ...

Bloomberg Holiday shoppers in the Philippines — which has some of Asia’s biggest malls — prefer to buy products in stores over mobile shopping, according to a study commissioned by Facebook Inc. Almost four in 10 Filipinos said in-store shopping is their first choice for the holidays, according to a study conducted by Ipsos Marketing and released by Facebook last ...

Bloomberg The cost of chartering a liquefied natural gas vessel on the short-term market has jumped the most since at least 2013. The day rate for a standard tanker East of the Suez Canal jumped 57% in the week to October 9, as issues related to US sanctions on units of China’s Cosco Shipping Corp. start to hit just as ...

Bloomberg More than a month since oil started washing up on some of Brazil’s most touristic beaches, dotting sand with black patches, killing sea turtles and scaring off fishermen, the origin of the crude is still a mystery. “We don’t know the oil’s origin, where it came from or how it got here,” Energy Minister Bento Albuquerque said at an ...

Bloomberg US antitrust enforcers have started an in-depth review of Google’s $2.6 billion planned acquisition of a data analytics company, a further sign of greater scrutiny on big technology companies, according to people familiar with the situation. The antitrust division of the US Department of Justice (DOJ) is seeking more information from Google and Looker Data Sciences Inc related to ...

Bloomberg The Securities and Exchange Commission (SEC) obtained a restraining order to stop the encrypted messaging app Telegram from flooding the US with digital tokens, claiming that its coins are unregistered securities that can’t be sold to American investors. The order halts Telegram from selling digital tokens known as Grams, according to a complaint unsealed in federal court in Manhattan. ...

Bloomberg The United Auto Workers (UAW) made a counter proposal to General Motors (GM) Co that would end a nearly month-long strike if the automaker agrees, capping a tumultuous day in which the union and company traded barbs and blame. UAW Vice President Terry Dittes offered no specifics on the proposal in a letter sent to members and published on ...

Bloomberg The UK government signed freight contracts worth as much as 87 million pounds ($110 million) to help ensure supplies of vital medicines amid concerns about post-Brexit disruptions. The contracts will be fulfilled by Brittany Ferries, DFDS A/S, P&O and Stena Line Travel Group AB, and will be provided across 13 routes, according to an emailed statement from the Department ...