Bloomberg India is set to become a net exporter of steel for the first time in four years, reversing a trend that saw domestic mills battling a flood of cheap imports, according to the Indian Steel Association. Shares of producers surged in Mumbai. “This is a very positive development and it would indicate that the Indian steel industry is ...

  Bloomberg PT Aneka Tambang, one of Indonesia’s biggest nickel producers, is seeking government approval to export 6 million metric tons of low-grade ore, two months after the nation relaxed its ban on shipments. The Jakarta-based company filed an application with the Energy and Mineral Resources Ministry this week to export the ore over a year, Senior Vice President Trenggono ...

  Bloomberg President Donald Trump is laying out an explicit quid pro quo for automakers: He’ll cut them a break on environmental standards and wants more hiring in return. “You need to come back and give us big numbers in terms of jobs,” Trump told the chief executive officers of General Motors Co., Ford Motor Co. and Fiat Chrysler Automobiles ...

  Bloomberg Toyota Motor Corp. plans to upgrade its UK carmaking plant in a sign that concerns about Brexit won’t derail its investments in the country for now. The world’s second-biggest auto manufacturer will spend 240 million pounds ($294 million) to update equipment and technology at a factory in Burnaston, England to allow the production of models on its latest ...

  Bloomberg Beginning construction of US houses climbed to a four-month high in February, led by the strongest pace of single-family homebuilding in nearly a decade. Residential starts advanced 3 percent to a 1.29 million annualized rate, a Commerce Department report showed on Thursday. The median forecast of economists surveyed by Bloomberg was 1.26 million. Construction of one-family dwellings rose ...

  Bloomberg The UK government intervened in 21st Century Fox Inc.’s 11.7 billion-pound ($14.4 billion) bid to take over Sky Plc, asking regulators to report back within 40 working days on how the deal would affect public-interest issues. “Today, I have issued a European Intervention Notice on the grounds of media plurality and commitment to broadcasting standards,” UK Culture Minister ...

  Bloomberg President Donald Trump said that he’s open to negotiation on the Republican plan to repeal and replace the Affordable Care Act, as conservative and moderate GOP lawmakers push changes to the proposal. Trump was asked by Fox News’s Tucker Carlson whether the legislation, called the American Health Care Act, was the best Republicans could do after seven years ...

  China’s National People’s Congress, which concluded on Wednesday, didn’t do much to ease the main worry about the world’s second-biggest economy: its large and growing pile of debt. In fact, to keep GDP growth ticking over at 6.5 percent or more, Chinese Premier Li Keqiang pledged a 12 percent expansion in credit this year. That implies about $2.7 trillion ...

  Even Inditex SA can’t defy gravity forever. The Spanish owner of the Zara fashion chain is still delivering the sort of sales growth rivals can only dream about. Same-store sales rose 10 percent in the year through January, the fastest rate in 14 years. By contrast, many competitors are struggling to generate growth on the same basis. But the ...

  When a mountain of trash collapsed at the fetid Reppi dump outside of Addis Ababa on Monday, at least 82 people died. It could’ve been worse: Hundreds of people live atop Reppi, Ethiopia’s biggest waste dump, trying to make a living from salvaging what city residents throw away. Despite well-known dangers, and the best efforts of the government, they’ve ...