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Bloomberg The Scottish Parliament voted against Theresa May’s landmark Brexit legislation, setting up a potential constitutional crisis and further complicating the path to an orderly departure. Lawmakers in Edinburgh voted 93-30 to withhold consent for the EU withdrawal bill. The UK can disregard the vote, but it would be the first time London asserts its dominance over the regional parliament. ...

Bloomberg An Indian tribunal ordered billionaire Anil Ambani’s Reliance Communications Ltd. be placed under insolvency proceedings, jeopardising the phone company’s proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd. The Mumbai bench of the National Company Law Tribunal on Tuesday accepted a petition from the Indian unit of network-equipment maker Ericsson AB, which is seeking to recover 11.6 billion ...

Bloomberg Masayoshi Son, the founder and chief executive officer of SoftBank Group Corp., is already thinking about his next $100 billion venture — a version 2.0 of the world’s biggest technology fund, according to people familiar with the matter. The Japanese entrepreneur has held preliminary discussions with investors about committing to a second fund as early as 2019, the people ...

Bloomberg Some of Asia’s biggest infrastructure investors are seeing plenty of opportunities in India. In China’s mammoth Belt-and-Road initiative, however, not so much. India is a key market for Macquarie Group thanks to strong economic growth and state asset sales, said Frank Kwok, co-head of Asia Pacific at Macquarie Infrastructure & Real Assets. Hence its recent purchase of nine toll-roads ...

Bloomberg Didi Chuxing is overhauling safety measures across its business after a female customer of its Hitch carpooling service was allegedly murdered by a driver using its app in China. Hitch has been marketed as a social ride-sharing service, allowing drivers and passengers to label or rate each other by appearance. Such features attracted criticism as the platform was rife ...

Bloomberg PayPal Holdings Inc. is teaming up with Indonesian venture-capital firm Alpha JWC Ventures to back emerging financial technologies that can be developed for Southeast Asia. Under the partnership, Jakarta-based Alpha JWC will contribute as much as $5 million in funding for PayPal Incubator, said Alpha JWC Managing Partner Will Ongkowidjaja. After being selected by PayPal and Alpha JWC senior ...

Bloomberg Sun Hung Kai Properties Ltd.’s record HK$25.2 billion ($3.2 billion) purchase of a coveted plot near Hong Kong’s former airport signals that the city’s developers are brushing off concern that expected rate increases will damp the red-hot housing market. Sun Hung Kai beat out bidders including units from CK Asset Holdings Ltd. and Henderson Land Development Co., paying almost ...

At the beginning of 1997, Malaysia appeared to be one of the world’s great success stories. Economic growth had topped 9 percent in eight of the previous nine years (and was 8.9 percent in the other one). Foreign investment had been pouring in. The world’s tallest building had just topped off in the capital, Kuala Lumpur, and a spectacular new ...

Enron Corp. is long gone, but the scandal it left behind in India has beguiled the country’s lenders for almost two decades. However, if the bankers who financed the US energy company’s unviable power plant in Maharashtra state aren’t ruing that 2,000-megawatt debacle any more, it’s only because they’re now staring at a mess 20 times bigger. India’s total electricity-generation ...

The fortunes of iPhone suppliers are looking strong. First-quarter earnings at Hon Hai Precision Industry Co. show that Apple Inc.’s chief product assembler pumped $2 billion more into its supply chain than a year earlier. Weak iPhone sales can’t be blamed for Hon Hai’s net income slipping 15 percent and missing estimates, because they weren’t weak. Revenue at the Taiwanese ...