Forty-five years ago, Congress passed the US Endangered Species Act — quietly, near-unanimously and with no concern that any American would ever object. Everyone wanted to avoid the extinction of wildlife, to save the likes of the California condor, the Florida panther and the North Atlantic right whale for their “esthetic, ecological, educational, historical, recreational, and scientific value to the ...

For US bond investors, the summer hiatus from Federal Reserve speakers couldn’t have come at a better time. Since the central bank left interest rates unchanged on Aug. 1, only two officials have made public comments: Richmond Fed President Tom Barkin on Aug. 8 and Chicago Fed President Charles Evans on August 9. None are scheduled to talk again until ...

It should have been a good day for the euro after Eurostat said the euro-area economy grew faster in the second quarter than initially reported. But instead, the Bloomberg Euro Index that measures the shared currency against its major peers fell the most in two months, dropping as much as 0.92 percent. The seemingly illogical response by foreign-exchange traders becomes ...

The party at China’s oldest Western food chain is missing a key guest. China Investment Corp is joining a consortium including Hillhouse Capital and former KKR & Co. senior executives planning a $14 billion-plus acquisition of Yum China Holdings Inc, Vinicy Chan, Cathy Chan, Carol Zhong and Manuel Baigorri wrote on Wednesday. The purchase of the KFC and Pizza Hut ...

It’s time to get real about the financial fragility of young technology companies. Far too many are living beyond their means, flirting with disaster and putting their investors at risk. Bloomberg Opinion examined 150 US technology companies that had gone public since the beginning of 2010 and were still operating independently as of Aug 10. About 37 percent had negative ...

Bloomberg Indonesia’s central bank raised its benchmark interest rate a fourth time since May in a surprise move aimed at underpinning the currency as volatility sweeps across emerging markets. The seven-day reverse repurchase rate was increased to 5.5 percent from 5.25 percent on Wednesday, as forecast by just seven of 28 economists in a Bloomberg survey, with the rest predicting ...

Bloomberg Canada’s largest lenders have boosted their capital enough in the past two years to withstand a 35 percent decline in housing prices in Ontario and British Columbia and 25 percent in the rest of the country, according to Moody’s Investors Service. Canada’s six biggest banks and Quebec’s Desjardins Group “incrementally improved” their capital buffers to absorb $10.9 billion in ...

Bloomberg Berkshire Hathaway Inc. added to its stakes in two of Warren Buffett’s most favoured industries as the billionaire investor widened bets in banking and the airline industry. Berkshire boosted investments in Goldman Sachs Group Inc., US Bancorp, Delta Air Lines Inc. and Southwest Airlines Co. in the second quarter, the Omaha, Nebraska-based company said in a filing. Buffett’s company ...

Bloomberg European banking stocks have been punished like no other sector in the region this year. Unless you’re expecting a financial crisis, now may be the time to take advantage of valuations near a two-year low, according to strategists at Citigroup Inc. Fearful of potential contagion from Turkey, investors accelerated their flight from the Stoxx 600 Banks Index in the ...

Bloomberg About a decade after Swiss bank secrecy laws started to crumble under the impact of a US investigation, one of the last large lenders still entangled in the matter agreed to settle the dispute. Zuercher Kantonalbank, Switzerland’s largest publicly-owned regional bank, will pay $98.5 million as part of a deferred prosecution agreement with the Department of Justice to end ...