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Bloomberg Indian employees are likely to witness their monthly paycheck getting a bigger boost next year compared to 2020 as companies are betting on higher consumer demand due to enhanced government spending and bumper rainfall to neutralise the pandemic-led economic contraction, a survey showed. Companies, spanning sectors including e-commerce, energy, financial institutions and pharmaceuticals, are projected to increase compensation by ...

Bloomberg Estee Lauder Cos sees a revival in China’s tourism — a promising sign in a critical growth market for international brands. Chief Executive Officer Fabrizio Freda said that Chinese travel stores — the type seen in airports and train stations — were a “stand-out performer” in the company’s most recent quarter, posting double-digit growth. Global travel sales, meanwhile, were ...

Bloomberg Mitsubishi Motors Corp reported an operating loss that was wider than estimates as the Japanese automaker struggles to sell cars amid the coronavirus outbreak. The loss for the quarter ended in September was 29 billion yen ($276.5 million), compared with analysts’ average projection for a loss of 27 billion yen. Even so, Mitsubishi Motors stuck to its forecast for ...

Bloomberg Jack Ma was poised to become Asia’s richest person with Ant Group Co’s initial public offering. Instead, his net worth tumbled almost $3 billion and both retail and institutional investors who were betting on a big first-day pop are in limbo. Alibaba Group Holding’s US-traded shares slid 8.1% in New York,the most since January, 2015, after Ant said its ...

Bloomberg Close contests in five key states mean the US presidential election may not be decided for days, or longer, even as President Donald Trump’s falsely claimed victory over Democrat Joe Biden with millions of ballots still to be counted. As of 6 am New York time on Wednesday, Biden had 238 electoral votes while Trump had 213, leaving both ...

Bloomberg Italy is poised to ban people from leaving or entering cities and towns in high-risk areas, likely including the financial capital Milan, as part of the government’s latest attempt to check the rapid spread of the coronavirus. A 10 pm to 5 am curfew will also be imposed across the country, according to a draft decree seen by Bloomberg. ...

Bloomberg Ethiopia’s leader ordered the military to respond to an alleged attack on an army camp in the restive Tigray region, escalating a standoff between the federal and state governments. Military operations began in Tigray overnight and a six-month state of emergency has been declared in the northern region, Prime Minister Abiy Ahmed’s spokeswoman Billene Seyoum said by phone on ...

Bloomberg Thai pro-democracy activists rejected a parliament-initiated plan to form a reconciliation committee, calling it a “political ploy to buy time,” and reiterated the demand for the immediate resignation of Prime Minister Prayuth Chan-Ocha. The Thai parliament is setting up a committee to discuss the demands of the protesters in a bid to ease political tensions and restart the stalled ...

Bloomberg Boris Johnson was set to push fresh coronavirus lockdown rules through the UK Parliament on Wednesday, facing down rebels in his own Conservative Party who reject the erosion of civil liberties they entail. The regulations were due to take effect from Wednesday, enforcing the closing of gyms and non-essential shops in England, and restricting social contact between households. The ...

Bloomberg Australia’s central bank cut interest rates and announced purchases of longer-dated bonds to complement its yield curve control program for shorter-length maturities as it seeks to drive a rapid economic recovery. The Reserve Bank of Australia lowered its key interest rate, yield-curve target and bank lending facility rate to 0.10% from 0.25%, as forecast by an overwhelming majority of ...