Calling the turn in industrial cycles isn’t easy. It looks like investors in the beaten-down machinery sector have decided to stop trying. Wade past the impact of the trade war and its potential collateral damage, and conditions are looking up. US bellwether Caterpillar Inc sounded an optimistic note in results, as did its typically cautious Japanese industrial machinery peers, which ...

Ten years on from the financial crisis, bank balance sheets haven’t become any simpler to digest for the average investor. Finance firms are big and leveraged; regulations have just become new instruments of complexity. That might suggest a potential windfall for any brainy number-cruncher who’s bored enough to spend a year looking for inconsistencies in the industry’s accounts. London hedge ...

Elon Musk fired a bazooka in his war against Tesla Inc.’s equity market short-sellers when he announced he’s considering taking the company private. His plan would also most likely wipe out investors who bet the money-losing automaker would eventually default on its bonds. The cost to insure against Tesla failing to make good on its debt fell to an all-time ...

Japan may be just posing as an outlier. Yes, the Bank of Japan renewed its commitment to ultra-low interest rates just as other developed economies were moving towards further rate increases and an end to stimulus. But beneath the headlines about the BOJ’s pledge to keep printing money for an “extended period,” Governor Haruhiko Kuroda and his colleagues left clues ...

Brace, brace. Hong Kong’s IPO takeoff is going to come to a screeching halt. There’s a flood of deals still in the pipeline, it’s true, from food delivery giant Meituan Dianping to biotech unicorn Innovent Biologics Inc. But investor fatigue is setting in, with many of the hot sales that helped to reignite the market in the past year trading ...

The US Treasury Department sold more 10-year notes than it ever had before to help finance a bulging budget deficit. Strategists generally deemed the $26 billion auction “solid.” And although that’s certainly true when comparing the results with recent auctions, it’s hard to ignore an inconvenient truth facing the bond market. Investors submitted bids for 2.55 times the amount offered, ...

Bloomberg Jet Airways India Ltd. was once at the forefront of India’s rapidly growing market for air travel, but a challenge from budget carriers and surging fuel prices are backing the airline into a corner. Shares of the carrier, part-owned by Etihad Airways PJSC, plunged 8.5 percent in Mumbai after the company postponed announcing its first-quarter earnings. That’s less than ...

Bloomberg Ryanair Holdings Plc’s worsening spat with pilots and cabin crew has created confusion among panicked customers as they race to salvage travel plans disrupted by strikes. Travellers holding tickets from affected airports told of an online race to find alternative journeys with the Irish airline or switch to rival carriers, only to see prices spiralling higher as hundreds of ...

Bloomberg The Chinese Communist Party is probing the chairman of the Shanghai Airport Authority for alleged corruption as President Xi Jinping continues his more than five-year-old crackdown on graft. Wu Jianrong, 56, has come under under suspicion of violating party rules and state laws, according to a statement posted on the website of the party’s disciplinary watchdog in Shanghai that ...

Bloomberg UK billionaire Mike Ashley swooped in to rescue the House of Fraser Ltd. department-store chain for 90 million pounds ($115 million), staving off collapse for an anchor of the country’s troubled shopping districts. Ashley’s Sports Direct International Plc agreed to acquire the 169-year-old retailer’s UK stores, brand name and inventory. The move came after House of Fraser, which employs ...