Over the last two decades, China has invested more than $125 billion in Africa to build ports, highways, airports, railways and other infrastructure. Chinese President Xi Jinping says funds, to the tune of $60 billion, will continue to flow because “inadequate infrastructure is believed to be the biggest bottleneck to Africa’s development.” China’s largesse has certainly benefited the continent. An ...

Putting state assets into private hands was the boring consensus of the 1990s; now, it’s only for the brave. In Britain, Jeremy Corbyn is tapping into public anger at the poor quality of private railways and utilities, and promises to re-nationalise them. In Italy, the deadly collapse of a motorway bridge has led the government to try and revoke the ...

What’s the appropriate board gift for a CEO’s two-year anniversary? If you’re Tim Sloan at Wells Fargo & Co., the correct answer is a short leash. Sloan took over the CEO role in mid-October 2016, which means the anniversary is this week. At the very least, Sloan badly underestimated the problems facing his bank. But he’s also been slow to ...

Bloomberg All eyes were on benchmark Treasuries on Tuesday as trading reopened in the wake of last week’s selloff and following a holiday. The 10-year yield crept up to a fresh seven-year high before erasing the move, while US equity futures slid with stocks across Asia and Europe. Both the S&P 500 and the Stoxx Europe 600 Index looked poised ...

Bloomberg Investors in Indian equity funds held tight and even bought more last month, seemingly unfazed by the selloff triggered by a tumbling currency and a crisis at a troubled lender. Stock funds took in 111 billion rupees ($1.5 billion) in September, the most since May, up from 83 billion rupees in August, data from the Association of Mutual Funds ...

Bloomberg The Bank of England ratcheted up the pressure on the European Union to help stave off the threat a no-deal Brexit poses to trillions of pounds of derivative contracts and millions of insurance policies. The EU has made “only limited progress” in mitigating the financial-stability risks of a disorderly Brexit, and the need for action is now “pressing,” the ...

Bloomberg A punishing selloff triggered by a money laundering scandal may have left Danske Bank A/S badly undervalued, according to analysts covering the stock. That means that shares in Denmark’s biggest financial group could be poised to soar more than 50 percent in the coming year, according to the average estimate of 24 analysts tracked by Bloomberg. The gap between ...

Bloomberg Goldman Sachs Group Inc is looking to restrain the rapid expansion of its online lending platform as the firm grows more cautious on the consumer debt market that’s a key area of growth. The firm’s Marcus unit cut its loan-originations target for next year, according to people with knowledge of the plans. The revision reflects concern about the stage ...

Bloomberg Greek banks slid as contagion from Italy exacerbated concerns they’ll need to raise more capital to deal with their mountains of bad loans. The FTSE/Athex Bank Index was down 4.9 percent at 3:18 p.m. in Athens, having earlier fallen as much as 7.9 percent. Eurobank Ergasias SA tumbled as much as 14.4 percent before paring its losses to 8.6 ...

Bloomberg The three British currency traders who were part of an exclusive online chat group referred to by members as “the cartel” go on trial this week for alleged market manipulation that’s already cost global banks $14 billion in penalties. The trio represented banks handling a major chunk of the $5.1 trillion-a-day currency market. The men are accused of rigging ...