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Bloomberg In China, taxi rides aren’t just a form of transportation any more. They’ve also become useful for bond buyers doing due diligence. Dining out at restaurants is also helpful. It’s all part of a boom in field trips by market participants coming to grips with a new reality in China: the potential for bond defaults. After decades when authorities ...

Bloomberg India is poised to reject Shanghai Fosun Pharmaceutical Group Co.’s proposed $1.3 billion takeover of an Indian drugmaker, according to people familiar with the matter, scuppering the biggest-ever Chinese acquisition in the country. The Cabinet Committee on Economic Affairs, which is chaired by Prime Minister Narendra Modi, has decided to block the Chinese firm’s purchase of an 86 percent ...

Bloomberg 13 Holdings Ltd. missed a Monday deadline to open its luxury hotel in Macau, a condition of a HK$3 billion ($384 million) loan from Bank of Communications Co. for the gaming project just off the Cotai strip, according to people familiar with the matter. The $1.6 billion development, started by 13 Holdings co-chairman Stephen Hung, formerly co-head of Asia ...

Bloomberg Andy Marsh sees his future — and it’s forklifts. His tiny company, Plug Power Inc., makes hydrogen fuel cells, and for years he struggled to find customers. No longer. In April, Amazon.com Inc. agreed to try out the technology in forklift fleets at 10 of its warehouses. And in July, Wal-Mart Stores Inc. matched Amazon’s $600 million deal with ...

Bloomberg Customs checks at the border after the UK leaves the European Union could cost 1 billion pounds ($1.3 billion) a year and cause delays for goods being shipped in both directions, according to a report by Oxera, an economic consultancy. The estimate assumes low regulation but high levels of enforcement and is based on World Trade Organization data on ...

Bloomberg Consumer credit growth slowed in June after the Bank of England officials took action to limit areas of risk from borrowing. Unsecured lending rose 10 percent from a year earlier, the least in more than a year, the UK central bank said on Monday. It grew 1.5 billion pounds on the month The BOE in June responded to the ...

Bloomberg The world’s biggest corn exporters are preparing for a showdown. Brazilian farmers are in the midst of collecting their biggest corn harvest ever and American supplies are also plentiful — setting the stage for a stiff battle to win world buyers in the second half of the year. It’s a turnaround from just a year ago when US exporters ...

Bloomberg Spotify Ltd. is tiptoeing into new businesses again. The No. 1 paid music streaming service has agreed to promote podcasts in its app and via ads on buses. In return, the hosts of “Reply All,” “Pod Save America” and “The Bill Simmons Podcast” agreed to talk up Spotify on social media and during their shows that cover topics ranging ...

Bloomberg Saudi Arabia is considering a flexible tax system for state-owned oil company Aramco that wo- uld increase royalty payments when crude prices rise, accor- ding to people familiar with the deliberations. Riyadh is mulling a proposal from Saudi Aramco to replace the current fixed royalty on revenues, the same people said, asking not to be named discussing government policies. ...

Bloomberg Oil traded near $50 a barrel in New York as efforts by Venezuela’s president to seize more power raised speculation the US could step up sanctions. Futures were little changed after surging 8.6 percent last week. The US is said to be considering increasing sanctions against Venezuela’s oil industry, the Wall Street Journal reported, citing people familiar with the ...