The minutes of the Federal Reserve’s monetary policy meeting show central bankers continue to move closer to explicitly allowing the economy to run hot enough to push the inflation rate above its 2% target for a period of time. The big undecided question is, will the Fed lower interest rates to meet this new objective? While a rate cut looks ...

The rise of social media has turned the fear of missing out — or FOMO — into a widespread anxiety. Those jitters may now strike parts of Europe’s banking sector with renewed anticipation for a wave of much-needed consolidation. An unsolicited bid by Intesa Sanpaolo SpA for Unione di Banche Italiane SpA triggered hopes of a process that would help ...

There hasn’t been much balance in the overheated debate around the post-Brexit trade settlement between Britain and the European Union (EU). So it was a welcome surprise to see former Morgan Stanley President Colm Kelleher describe Europe’s capital markets as “not fit for purpose” recently. It’s good to see an acknowledgement that maybe the EU doesn’t hold all the cards ...

If you’re a banker sitting somewhat idle at UBS Group AG, you may be feeling vulnerable today. The Swiss giant has picked Ralph Hamers — an outsider credited with making ING Groep NV one of Europe’s most digitally savvy and cost-efficient banks — as its new chief executive officer. That sets a clear strategic direction for UBS. The lender is ...

The nature of poverty in rich countries has changed. The sort of material deprivation common in developing nations is effectively a thing of the past. But millions of Americans lead precarious lives — always on the verge of getting evicted, not knowing where their next meal will come from, or unsure how they’ll be able to generate an income. This ...

Bloomberg US equity futures tumbled alongside stocks in Europe and Asia on Monday as concerns mounted about the ability of authorities to keep the coronavirus from spreading further beyond China. Havens including Treasuries and gold jumped. Contracts on the three main US stock benchmarks were all down more than 2%, with those on the S&P 500 Index pointing to the ...

Bloomberg European equities haven’t had such a bad day in more than three years as increasing concerns over the economic impact of the coronavirus hurt travel and luxury sectors. The Stoxx Europe 600 Index fell as much as 3.6%, the most since June 2016, led by the auto, mining and travel sectors. Luxury companies tumbled on fears that the epidemic ...

Bloomberg European Central Bank (ECB) policy makers from two of the euro area’s biggest economies said governments must shoulder most of the burden for rebooting economies if the coronavirus has a deeper impact on growth. France’s Francois Villeroy de Galhau and Italy’s Ignazio Visco were speaking at the Group of 20 meeting of central bankers and finance ministers in Riyadh, ...

Bloomberg Bank of Ireland Group Plc shares fell to a four-month low after profits fell, impairment charges rose more than expected and the lender’s dividend disappointed investors. Ireland’s biggest lender posted an underlying profit for 2019 of 758 million euros ($821 million), down nearly a fifth from a year ago, the company said in Dublin on Monday. The drop was ...

Bloomberg A decade-long slide in Australian interest rates is threatening to turn one of the global currency market’s most popular wagers on its head. Investors with an appetite for a little risk had a winner for years with a carry trade that saw them borrow trillions of yen at near-zero rates and use the money to buy Australian dollars. Holding ...