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Bloomberg Prime Minister Narendra Modi has staunchly defended India’s contentious new religion-based citizenship law in an address to a mass rally in the capital New Delhi, while elsewhere in the country the death toll from violent protests against the legislation crept higher. He asked voters to thank the parliament for pushing through the law last week and accused opposition parties ...

Bloomberg South Africa’s biggest labour group is proposing that more than half the debt of state-owned Eskom Holding SOC Ltd be put into a special purpose vehicle to help save the utility and avoid job cuts. The Congress of South African Trade Unions urged the government strike a deal with the Public Investment Corp, Africa’s biggest money manager, to help ...

Bloomberg PG&E Corp creditors, seeking to salvage their bid to take control of the bankrupt utility’s restructuring, sweetened their offer to wildfire victims and made new proposals aimed at winning over California Governor Gavin Newsom. In a letter to Newsom, the creditor group said they are prepared to pay the victims $13.5 billion in cash upfront instead of using stock ...

Bloomberg Global oil markets notched up a number of milestones this year that echoed the story of the past decade: the world has shifted from an era of supply tightness to plenty. What distinguished the developments of 2019 was not just how big they were but often how little impact they had. From the world’s biggest-ever initial public offering to ...

Bloomberg A Stanford University professor whose research helped underpin the US Democrats’ Green New Deal says phasing out fossil fuels and running the entire world on clean energy would pay for itself in under seven years. It would cost $73 trillion to revamp power grids, transportation, manufacturing and other systems to run on wind, solar and hydro power, including enough ...

Bloomberg From a 35-basis point interest rate cut to embracing a Federal Reserve-style ‘Operation Twist’, Reserve Bank of India (RBI) Governor Shaktikanta Das is pushing the boundaries of conventional central bank policy making to improve rate transmission and spur credit to the economy. The central bank announced it will buy longer-dated debt and simultaneously sell shorter maturity notes in a ...

Bloomberg Indian banks may ask depositors and customers to list their religion, The Times of India reported. The information may be required after the Reserve Bank of India (RBI) made changes to a banking law that allows selected non-residents to open bank accounts and own property, the report said. Amendments to the Foreign Exchange Management Regulations will let immigrant Hindus, ...

Bloomberg Just weeks after Christine Lagarde became the euro zone’s first female central bank chief, neighbouring Britain has chosen to stick with what it’s only ever known for economic policy: men in charge. This month’s decision to install Andrew Bailey as Bank of England (BOE) governor, along with Sajid Javid’s reappointment as chancellor of the exchequer, extend an exclusively male ...

Bloomberg The West African Economic and Monetary Union has agreed with France to a number of changes to the CFA franc currency, including a new name, Ivory Coast’s President Alassane Ouattara said, as the West African bloc inches closer to a split from the French-backed currency. The monetary union will keep its euro peg while moving its currency reserve from ...

Bloomberg Traders at HSBC Holdings Plc and JPMorgan Chase & Co are among those who accessed a high-speed audio feed of Bank of England press conferences, according to the Financial Times, which cited an unidentified person. HSBC and JPMorgan declined to comment to Bloomberg News. Investment banks across the City are trying to establish whether their traders used the feed, ...