Bloomberg Tata Steel Ltd. plans to grow “very aggressively” in India, riding on Prime Minister Narendra Modi’s promise of record infrastructure spending, after moving closer to a possible joint venture in Europe that will help stem losses there. “We will be growing very significantly or growing very aggressively as far as India is concerned,” Group Executive Director for Finance Koushik ...

Bloomberg Japan’s economy advanced for a fifth straight quarter, the longest expansion in a decade, supported by continued strength in exports. Domestic demand rebounded, but economists question whether this strength will continue. Gross domestic product increased by an annualized 2.2 percent in the three months ended March 31 (estimate +1.7 percent), accelerating from a revised 1.4 percent in the previous ...

Bloomberg Tencent Holdings Ltd.’s investments in blockbuster video and gaming content are paying off — big-time. China’s largest internet company posted record quarterly sales and profit that topped all analysts’ estimates as blockbuster titles including Honour of Kings drove a billion-plus users on WeChat and QQ to spend on game items. Chairman Pony Ma’s strategy of stockpiling rights to hit ...

Bloomberg Australia’s jobless rate fell in April, adding to the previous month’s strong employment gains, reinforcing expectations that the central bank won’t cut interest rates further. Employment rose 37,400 from March; economists forecast 5,000 gain Jobless rate fell to 5.7%, the lowest since January, vs 5.9% estimate. Full-time jobs fell 11,600; part-time employment rose 49,000. Participation rate held at 64.8% ...

Bloomberg The Philippine economy expanded less than economists forecast last quarter as government and consu-mer spending weakened. Stocks and the peso fell. Gross domestic product increased 6.4 percent from a year earlier, the Philippine Statistics Authority said in Manila on Thursday, after expanding 6.6 percent in the fourth quarter. The median estimate of 14 economists surveyed by Bloomberg was for ...

Bloomberg Facebook Inc. was fined 110 million euros ($122 million) by the European Union for misleading regulators during a 2014 review of the WhatsApp messaging service takeover on the same day the EU threatened to heavily penalize Patrick Drahi’s Altice NV for implementing for a second time a deal before getting regulatory clearance. The European Commission won’t overturn approval for ...

Bloomberg US wheat grabbed its first sale to the Egyptian government in more than two years as the world’s biggest buyer requested grain with a higher protein content, knocking France out of the mix. Egypt’s General Authority for Supply Commodities bought two cargoes of US wheat totaling 115,000 metric tons, of 39 percent of the amount purchased, according to two ...

Bloomberg American factories flexed some muscle in April, boosting output by the most since February 2014 in broad fashion. Along with gains at mines and utilities, total industrial output was also the strongest in more than three years, Federal Reserve data showed. Factory production rose 1 percent (forecast called for a 0.4 percent gain) after a 0.4 percent drop in ...

Bloomberg Unexpected declines in US new-home construction and building permits in April indicate the market is off to a weak start this quarter, government data showed. The results indicate that residential construction is at risk of dragging down growth in the second quarter, lessening any economic rebound after weakness in the previous period. Other indicators of housing demand remain healthy, ...

China’s just-completed conference touting its Belt and Road initiative certainly looked like a triumph, with Russian President Vladimir Putin playing the piano and Chinese leaders announcing a string of potential deals and massive financial pledges. Underneath all the heady talk about China positioning itself at the heart of a new global order, though, lies in uncomfortable question: Can it afford ...