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Bloomberg Oyo Hotels, an Indian startup for booking reliable rooms in the country’s chaotic lodging market, is raising $1 billion to fund expansion into China and other global regions. Existing investors including SoftBank Vision Fund, Sequoia Capital and Lightspeed Venture Partners have put in $800 million, with commitments for another $200 million, the company said. About $600 million of the ...

Bloomberg Buy the businesses that hold the real-estate assets rather than the ones that sell them. That’s the message from a growing number of analysts in Singapore who say REITs, or real estate investment trusts, are a better bet than developers in light of the island’s recent cooling measures. For much of 2017 and the first half of this year, ...

Bloomberg North Korea signalled it wants investments from South Korean companies to help modernise the secluded country, said a top executive in the business delegation that visited Pyongyang last week. North Korea wants to have economic cooperation and technical assistance from the South, Sohn Kyung-shik, the 79-year-old co-chairman of CJ Group and the head of the Korea Employers Federation, told ...

Bloomberg The founders of Instagram are leaving Facebook Inc. after growing tensions with Chief Executive Officer Mark Zuckerberg over the direction of the photo-sharing app, people familiar with the matter said. The stock dropped 2 percent in pre-market trading on Tuesday. Kevin Systrom and Mike Krieger, who have been at the company since Instagram’s acquisition by Facebook in 2012, had ...

Bloomberg Johnson & Johnson’s latest trial over claims that its baby powder causes cancer ended in a stalemate when jurors couldn’t agree on a verdict. A state judge in Pasadena, California, declared a mistrial after jurors deadlocked on Carolyn Weirick’s request for at least $25 million in damages over her mesothelioma, a cancer linked to asbestos exposure. Weirick said she ...

Bloomberg Google Chief Executive Officer Sundar Pichai said he will meet with lawmakers on Capitol Hill this week as his company and other internet giants face increasing scrutiny from conservatives who allege that their views are being censored online. “I look forward to meeting with members on both sides of the aisle, answering a wide range of questions, and explaining ...

Bloomberg In Rupert Murdoch’s six decades of media dealmaking, UK broadcaster Sky Plc stands out as the one that got away. The octogenarian may still have the last laugh. While Murdoch’s 21st Century Fox Inc. lost out to Comcast Corp. in a weekend auction of the UK pay-TV company he launched almost three decades ago, the global media magnate now ...

During China’s greatest period of economic growth, fed by widespread industrialisation that lifted millions out of poverty, inequality has also increased — at the fastest pace and to the highest level in the world. It may get worse. China’s Gini coefficient, a widely used measure of income dispersion across a population, has risen more steeply over the last decade than ...

So much for hell on the British high street. Next Plc, the clothing retailer, has upgraded its profit forecast for this year by 10 million pounds ($13 million), meaning they’ll be on a par with 2017. The shares jumped by 8 percent. Simon Wolfson, chief executive, had expected UK shoppers to rein in their spending in August and September after ...

When considering what to do about pollution, there are two kinds of people: techno-optimists who assume humanity will eventually find a way to clean up all our messes, and those less fun but more pragmatic environmentalists who say that it’s always easier and cheaper to avoid making the mess in the first place. Battle just broke out between these two ...