India’s wanted billionaire Vijay Mallya breaks his silence -

During the interview, Mr Mallya — a serving member of the Indian parliament — steadfastly declines to criticise the Indian government led by Narendra Modi. He rejects the idea that Mr Modi, an austere figure, was behind the decision to issue his arrest warrant and revoke his passport.

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Puma First-Quarter Profit Rises on Strong Footwear Sales

FRANKFURT—Puma SE said Friday its first-quarter profit rose 4%, boosted by strong footwear sales. The German sporting goods firm, a division of Kering SA, said net profit was €25.8 million ($28.3 million) in the first three months of the year, up from €24.8 million a year earlier. Sales rose 7.3% when adjusted for currency effects, to €852 million. The company’s footwear business was the main growth driver, with sales increasing in...

Unmasking the Men Behind Zero Hedge, Wall Street's Renegade Blog

A former “director of contributor success” at website Seeking Alpha, Lokey said he joined Zero Hedge for $6,000 a month and received an annual bonus of $50,000, earning more than $100,000 last year. His salary helped pay the rent on a “very nice” condominium on South Carolina’s Hilton Head Island, he said. Despite the compensation, he contends that he left because he disagreed with the site's editorial vision. “Reality checks are great. But Zero Hedge ceased to serve that public service years ago,” Lokey wrote. “They care what generates page views. Clicks. Money.”

Bloomberg Brexit Debate: The Key Arguments

Former U.K. Chancellors Nigel Lawson and Norman Lamont joined Confederation of British Industry Director Carolyn Fairbairn, former Italian Prime Minister Mario Monti, Publicis Chairman Maurice Levy and Cedar Chairman Jon Moulton to debate the future of Britain in the European Union.

Inside BHS: how much did the Greens really make? -

Inside BHS: how much did the Greens really make?

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Latest euro-area inflation rate is minus 0.2%, worse than forecast

How many millions did Laremy Tunsil lose because of one tweet?

Highly regarded University of Mississippi offensive lineman Laremy Tunsil saw his stock plummet at the NFL Draft on Thursday night after a video of him smoking marijuana from a bong was posted to his Twitter account minutes before the draft started. Tunsil immediately deleted his account, but the damage was done, and the video already retweeted.

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Valeant Files Overdue Annual Report

Valeant Pharmaceuticals International Inc. filed its overdue annual report on Friday morning, likely resolving the looming danger of debt default for the Canadian company.

Baby Boomers, Just Eclipsed by Millennials, Will Soon Be No. 3

Millennials and Generation Z surpassing the baby boomers has mostly been driven by births and by immigration, rather than by baby boomers dying. It will take years for these generations to reach their full influence. Earnings typically peak in people’s mid-to-late careers, meaning that boomers will continue to dominate consumer spending and hold more of the nation’s wealth. Voter turnout typically rises with age until voters are in their 70s, so boomers will remain for many more election cycles the dominant generation in U.S. politics.

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Does it pay to delay taking your state pension? -

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French Economic Growth Beats Forecasts

French economic growth firmed at the start of the year, while Spain’s recovery continued at a steady and strong pace, according to figures released Friday.

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Casino Sells Vietnamese Assets for $1.1 Billion

PARIS—Groupe Casino SA has sold Big C Vietnam to Thailand’s Central Group in a deal valued at €1 billion ($1.14 billion), marking a further step in the French grocer’s plans to cut its debt.

AB InBev Offers to Sell SABMiller’s Central, Eastern Europe Brands

LONDON—Anheuser-Busch InBev NV has offered to sell SABMiller PLC’s Central and Eastern European brands, including Pilsner Urquell, ahead of a decision by the European Commission on whether to approve its acquisition of the London-based brewer.

WPP’s Martin Sorrell defends £70m pay package -

WPP’s Martin Sorrell defends £70m pay package

For U.K. and EU, Breaking Up Is Legally Hard to Do

But Article 50 is very tricky for the U.K. to maneuver. Once triggered, there is no “reverse gear,” and two years is a very short time to renegotiate 80,000 pages of EU agreements. The period can be extended, but only if all 28 EU countries agree. The risk for the U.K. is that, after two years, it would leave having failed to reach any agreement governing its post-exit ties with the bloc, creating huge uncertainty.

Obama Says ‘The Big Short’ Was Wrong: Wall Street Has Changed

Reflecting on his economic legacy, President Barack Obama disputes the conclusion in “The Big Short” movie that nothing changed on Wall Street after the 2008 economic meltdown, and maintains that his policies have helped stabilize the financial sector.

SPEND: The Best Mangoes in the World

And good news: They're in. It's just the start of the season; about 100,000 tonnes of Indian mangoes will travel to the U.S. before the season ends in June. That's almost twice what we got last year, when early rains ruined massive amounts of India's crop (and prices almost doubled). If you can get your hands on them now, a box of about nine to 12 Kesar mangoes will set you back $30, each one tucked into a soft sleeve, like something truly precious.

The Latest Activist Investor at Bank of America: A Ninth-Grader

CHARLOTTE, N.C.—At Bank of America Corp.’s annual shareholder meeting Wednesday, a 15-year-old brought up the elephant in the room.

Why some hotels are phasing out room 420

Film buffs may also seek to avoid room 237, made famous by “The Shining” and the title of its own documentary concerning theories about the film (although purists may prefer to avoid 217, the offending room in Stephen King's book). Other hotel room numbers have real-life connections. The girlfriend of Sid Vicious died in room 100 and Martin Luther King junior was assassinated on the balcony of room 306. Celebrity deaths add further notoriety. Janis Joplin (105) Jimi Hendrix (507) and Whitney Houston (434) are just some of the talented and famous who have met their demise in a hotel room.

The trouble with GDP

Kennedy was right. Much that is valuable is neither tangible nor tradable. But much that is tradable is also not tangible. A problem with GDP even when it is being asked to do nothing more than measure production is that it is a relic of a period dominated by manufacturing. In the 1950s, manufacturing made up more than a third of British GDP. Today it makes up a tenth. But the output of factories is still measured much more closely than that of services. Manufacturing output is broken down into 24 separate industries in the national accounts; services, which now make up 80% of the economy, are subdivided into only just over twice that number of categories.

Time is running out for this Social Security strategy

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer . Morningstar: © 2016 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2016. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2016 and/or its affiliates.

The Hedge Fund Manager Betting Soros Is Wrong About China

Bob Bishop, who once ran investments for billionaire George Soros, is betting his former boss is wrong about China. The world’s second-biggest economy has had its hard landing and is on its way up, according to Bishop.

Ex-Google Robotics Team Creates a WeWork That’s Not ‘Too Cool’

So he and some of the other design-focused colleagues from Autofuss transferred to Google’s retail division, where they were tasked with imagining the future of shopping. The company was interested in “moonshot” concepts of a Google store, which could track each customer’s location inside a space or incorporate robots into the buying experience. The team hacked together retail concepts inside a Mountain View, Calif., warehouse. They also helped design pop-up installations, including Google’s 2014 Winter Wonderlab, where holiday shoppers could step inside a tent near New York City’s Bryant Park skating rink to find a huge snow globe surrounded by Nexus tablets and Chromecast sticks. “If Google were a space, what would it feel like?” Randy said. “That’s the question, philosophically, we were wrestling with.”

Brain Damage in Zika Babies Is Far Worse Than Doctors Expected

SALVADOR, Brazil—Ana Gabriela do Prado Paschoal sat at a desk in a small medical exam room and began a familiar, heartbreaking ritual. Your baby’s head is smaller than normal, Dr. Paschoal told the anxious mother, who had contracted the Zika virus while pregnant.

The Future of Shopping: Trapping You in a Club You Didn't Know You Joined

Adore Me is among a group of buzzy Internet retailers accused of sometimes placing customers into unwanted and hard-to-cancel retail subscriptions. Several of these companies have been hit with lawsuits alleging unfair business practices, including JustFab (apparel), Blue Apron (food delivery), and Birchbox (beauty samples). Adore Me is currently facing a lawsuit from a disgruntled subscriber. JustFab, which also owns ShoeDazzle and Kate Hudson’s athletic wear shop Fabletics, last year paid a $1.88 million fine as part of a settlement over allegations of deceptive marketing. likewise paid $2.5 million to settle a similar suit. (Blue Apron, Birchbox, and did not respond to requests for comment.)

China’s robot revolution -

The Ying Ao sink foundry in southern China’s Guangdong province does not look like a factory of the future. The sign over the entrance is faded; inside, the floor is greasy with patches of mud, and a thick metal dust — the by-product of the stainless-steel polishing process — clogs the air. As workers haul trolleys across the factory floor, the cavernous, shed-like building reverberates with a loud clanging.

Didi Chuxing: Meet Uber's Biggest Threat in China

Didi Chuxing president Jean Liu discusses why the company is rebranding and teaming up with Lyft with Emily Chang on “Bloomberg West.” (Source: Bloomberg)

Take the Buffett Quiz: Do You Really Know Warren's World?

Six hours of fielding investor questions may sound like torture, but for Warren Buffett, it's all in a day's work at Berkshire Hathaway's annual meeting. 

Venezuela Needs Oil's Rally More Than Anyone as Economy Teeters

Few countries need oil’s rally to last more than Venezuela, where the economy’s expected to shrink 8 percent this year and a lack of petrodollars has seen shops run short of consumer goods.

Philippine Front-runner Had $51 Million in Banks, Senator Says

Rodrigo Duterte, the crime-fighting mayor who is favored to win the Philippines’ May 9 presidential election, failed to declare tens of millions of dollars in assets, according to records released by a senator supporting rival candidate Grace Poe.

Beyoncé’s monster hit album ‘Lemonade’ may boost sales of the beverage lemonade too

Consumers have been moving away from products that contain added sugar , said Eric Penicka, a research analyst at Euromonitor International. Soda consumption in the U.S. has declined steadily for the last 10 years. In 2014, it fell 1% from 2013 to 12.76 billion gallons, while bottled water rose 7.3% to 10.87 billion gallons. And lemonade without any sugar added isn’t really feasible.

One of These People Could Be the Next U.S. Treasury Secretary

Few may imagine that a contrarian investor who says he makes money by studying "stupidity" might be the next Treasury secretary. But nothing seems too far-fetched with Trump, who has floated Icahn as a possible candidate for the job. Icahn, who has a $20.3 billion fortune and ranks 32nd on Bloomberg's list of richest people, initially said he wasn't interested. But after watching Trump in a televised debate, the 80-year-old tweeted that he'd accepted the offer. Icahn's straight-talk style and media prowess is befitting of Trump's political approach. He didn't respond to a request for comment.  Achilles' heel: Icahn would have to fight the perception that, as an activist investor, he's more focused on short-term profits than on long-term stability.

How China’s Tech Regulations Impact Apple

SK Ventures partner Paul Kedrosky and Bloomberg’s Alex Webb discuss technology regulations in China with Emily Chang on “Bloomberg West.” (Source: Bloomberg)

Did I Pay Too Much for That Airline Ticket?

Some fare tools, including Hopper and Kayak, have attempted to divine appropriate fares by using a system that gives   shoppers a yes or no about buying when they display a fare. Most people, it seems, don’t want to search for weeks, plug numbers into a formula or “be a stock trader” when it comes to finding a good baseline for a fare, said Patrick Surry, Hopper’s chief data scientist. “When you buy a car, you just want to get a price report and guidance of how much other people paid for that car,” he said. “You want enough context to make an informed decision.”

Puerto Rico Risks Historic Default as Congress Chooses Inaction

Even if Puerto Rico manages to strike a last-minute deal to defer bond payments due in three days, the commonwealth’s financial collapse is about to enter an unprecedented phase.

The 10-Point.

Current and former executives at Credit Suisse are sparring over who was responsible for the bulk of almost $1 billion in losses in recent months. Past and present top executives of the investment bank have given differing accounts of who was in charge of what during a critical period for the loss-making trading business late last year. The ongoing dissension adds to a sense of chaos at Credit Suisse and complicates an already difficult task for its Chief Executive Tidjane Thiam, who is scaling back the lender’s investment bank to satisfy investors and regulators. Mr. Thiam will face shareholders today at Credit Suisse’s annual meeting. In March, when the lender announced bigger-than-expected losses in its business that trades bonds, issues debt and packages loans into customized securities, Mr. Thiam said that he and his finance chief hadn’t been made fully aware of looming risks until January.

Warren Buffett explains why rich Americans should pay higher taxes

In his 2006 book, “The Audacity of Hope,” Barack Obama quoted Buffett, who said that fellow billionaires “have this idea that it’s ‘their money’ and they deserve to keep every penny of it. What they don’t factor in is all the public investment that lets us live the way we do. Take me as an example. I happen to have a talent for allocating capital. But my ability to use that talent is completely dependent on the society I was born into. If I’d been born into a tribe of hunters, this talent of mine would be pretty worthless. I can’t run very fast. I’m not particularly strong. I’d probably end up as some wild animal’s dinner. But I was lucky enough to be born into a time and place where society values my talent, and gave me a good education to develop that talent, and set up the laws and the financial system to let me do what I love doing—and make a lot of money doing it. The least I can do is help pay for all that.”

Australia to block vast land sale to China-led consortium -

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Credit Suisse's Thiam asks investors for patience over new strategy

Chief Executive Tidjane Thiam's blueprint for Credit Suisse has received a mixed response from the market, with shares down more than 40 percent since he took charge at the bank in July.

Five Things You Need to Know to Start Your Day

There's a bunch of euro data, the dollar extends its weakness, and it's earnings day for big oil. Here are some of the things people in markets are talking about today.

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Three months before he left India amid unpaid bills, Vijay Mallya threw himself a party

Amazon profit crushes estimates as cloud-service revenue soars

The results draw a sharp contrast to the disappointing fourth quarter Amazon reported in January, which renewed worries among some shareholders about the company's comparatively thin profit margins. Shares of the world's biggest online retailer jumped nearly 13 percent to $679 in extended trading on Thursday.

China warns off commodities market punters -

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Stiglitz: Euro Zone Has Been a 'Dismal Failure'

Columbia University Professor of Economics and Nobel Laureate Joseph Stiglitz explains why he believes the Euro Zone has been a failure as the United Kingdom prepares to vote on leaving the European Union. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)

Supporters—and Protesters—Flock to Trump in California

Donald Trump, Republican presidential contender, campaigned in California ahead of that state’s June 7 primary, bringing out thousands of supporters. Protesters—and police—also were on the scene.

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51 China's Xi says economy had good start to 2016 but faces pressure - media
52 Hide in these cheap safety stocks as the market rally stalls
53 NYT Business on Twitter
54 China charges brokers, fund manager with insider trading
55 Eurozone GDP returns to pre-crisis levels -
56 Credit Suisse's Thiam Signals Tough Year Ahead Amid Overhaul
57 Underwater envy
58 LinkedIn not quite dead yet
59 Bloomberg on Twitter
60 India's debt problem is bigger than beer baron Vijay Mallya
61 Jupiter hires former CIA agents -
62 Five things you should know before you start your work day on April 29
63 NYT Business on Twitter
64 CEO Fields: Ford on Track for 'Another Outstanding Year'
65 Yen spikes to 18-month peak, Amazon softens Apple blow
66 Bloomberg on Twitter
67 US puts robots at vanguard to win next great power game -
68 Fed's Kaplan says he will advocate for raising interest rates gradually
69 US election: Can Hill thrill after you’ve felt the Bern? -
70 Sanofi confident it can win Medivation shareholders support
71 Yet another airline ranking
72 Fiat Chrysler and Alphabet in self-driving car talks -
73 CNNMoney on Twitter
74 Analysts grow more bullish on oil, OPEC poses no threat to rebalancing: poll
75 The Economist on Twitter
76 NYT Business on Twitter
77 Oil prices hit new 2016 highs despite lingering excess
78 Publicis CEO: Surprised by 'Narrow' Thinking on Brexit
79 How to Fix DC's Metro
80 Rewriting history
81 Swiss Re CFO: Plenty of Attractive EM Opportunities
82 Cloud Unit Pushes Amazon to Record Profit
83 Buying a Home With Retirement Savings: Pros and Cons
84 Swiss Re CFO: Must Stay Prepared for Major Disasters
85 Big business moves into co-working spaces -
86 Oil’s wild ride set to continue after April’s big climb
87 The $115 Billion Danish Fund That's Mapped Volatility Patterns
88 Three pharma deals worth $45bn reignite M&A boom -
89 NYT Business on Twitter
90 Russia Backs China's Challenges to U.S. Over Asian Flashpoints
91 Law, not culture, is Europe’s answer to Islam, a pundit says
92 Should you open Goldman Sachs savings account now that they’ll take our plebian deposits?
93 Prince wrote thousands of songs — but why didn’t he write a will? -
94 High-Speed Trading Backlash Mounts Pressure on India's Sebi
95 CNNMoney on Twitter
96 Fink: Janet Yellen Has Been a Fantastic Fed Chairperson
97 End of Golden Era for Investors Spells Troubles for Millennials
98 Premarkets: 5 things to know before the open
99 Protesters Have a Long History of Crashing Buffett’s Annual Party
100 Crazy diamonds