Bloomberg Prime Minister Narendra Modi’s administration will probably have to prepare India’s $300 billion budget in the dark. With less than a month to go before the annual presentation, his Statistics Office has refused to estimate the impact of Modi’s unprecedented cash clampdown on gross domestic product. All it said on Friday was that growth will slow to a ...

    Bloomberg Volvo Car Group, owned by a Chinese billionaire since 2010, plans to export half of a new South Carolina factory’s output to Asia and Europe. The company plans to build 60,000 S60 sedans in Charleston initially then expand to 100,000, Hakan Samuelsson, Volvo Cars’ chief executive officer, said at a dinner at the North American International Auto ...

  Bloomberg Wealthy Asian investors unwilling to splurge on owning their own European soccer teams are showing their enthusiasm by helping fund the sport. Sales of football finance notes, backed by television rights of soccer clubs, doubled to $11 million last month from the amount issued in April, when they were opened to investors in the region, according to data ...

  Bloomberg Headhunter Casey Abel spent four months trying to hire a data-center architect for a Japanese automaker, including five meetings with the client — one with the top executive. In the end, the IT specialist joined an e-commerce company abroad for significantly more money. “There’s just a massive mismatch in salaries,” said Abel, managing director at recruiter HCCR K.K., ...

  Watching Director of National Intelligence James Clapper, a gruff, 50-year veteran of the spy world, answer congressional questions on Thursday, you couldn’t help wondering if perhaps this time Donald Trump has met his match. To recall a quip made years ago by a prominent Washington lawyer, Clapper is not a “potted plant.” He has served Republicans and Democrats alike ...

  Wall Street is split on the value of having a Chinese joint venture. Morgan Stanley and UBS Group AG are planning to raise their stakes in their securities operations in the country to the maximum 49 percent allowed, just weeks after JP Morgan Chase & Co. severed ties with its local partner amid frustration over a lack of control. ...

  People who want less immigration have been underrepresented in the U.S. Congress. Gallup found that 38 percent of Americans fall into this category, while 21 percent want increased immigration. But in 2013, a Senate committee voted 17-1 against capping legal immigration at 33 million people over the next decade. The one senator who voted for a cap — the ...

  The British people chose to vote in June 2016 to disentangle their country from the EU. They did not simply vote to withdraw from the European Union but to change the way their country works. But even after more than six months of that historic referendum, people are not sure about what the future holds for them. The most ...

  The Internet of Things is one of the gadget industry’s brightest hopes in a world that’s saturated with smartphones. Sensors are cheap, and digital giants such as Amazon and Google are aggressively pushing their voice-command technology. The resulting hype, however, spawns inventions that should only exist in the corny worlds of science fiction. At this point, the IoT market ...

  The Dow Jones Industrial Average came tantalizing close to 20,000 on January 6, a record level that is being closely watched (and hyped) by the financial media. At one point during the trading session, it was within 0.37 points, or 0.0002 percent. Most agree that it is just a matter of time before this milestone is attained. The longer-term ...