The world’s rich countries face a looming challenge in education: Too many of their citizens lack the skills and credentials needed for the jobs of the future. To keep people productively engaged in work in the coming decades, and to ensure that economies maintain robust growth, governments, educators and employers will need to make lasting investments in a new class ...

Last week, the European Parliament backed the idea of breaking up Google. It doesn’t have the power to do it, but the legislators’ decision is a notable part of a backlash against the remedial action Google took after the European Commission fined it $2.95 billion for abusing its dominant position in shopping search. That backlash can lead to dire consequences ...

Just when shoppers are putting more jars of coffee and bottles of shampoo into their baskets, there’s another worry for the big consumer goods groups: they don’t want to pay more for them. Last week both Nestle SA and Unilever NV announced a return to volume growth in the first quarter of their financial years — and pricing that was ...

Policymakers from some 180 countries wrapped up the spring meeting of the International Monetary Fund and World Bank in Washington on Sunday with a warning: Take steps now, while the global economy is still strengthening, to head off escalating risks of instability looming just over the horizon. The message was reminiscent of the “yes, but” theme that dominated the same ...

Bloomberg Tarred by a fixing scandal that struck at the height of the financial crisis, bankers and investors for years have been grappling with finding a replacement for the Libor benchmark used to set borrowing rates on trillions of loans and derivatives. Now the Bank of England has finally unveiled a key part. On Tuesday, the BOE for the first ...

Bloomberg Some euro bulls are wondering if the party is over, for now. The outlook for the past year’s best-performing major currency is being clouded by skepticism the European Central Bank will be able to tighten policy as early as previously thought, given signs of slowing economic growth. OppenheimerFunds Inc.’s multi-asset money manager Alessio de Longis is moving toward a ...

Bloomberg Barely two weeks into the job, Deutsche Bank AG’s Chief Executive Officer Christian Sewing is considering a retreat that could mark the end of the bank’s two-decade quest to compete with Wall Street. Sewing is weighing extensive cuts to the lender’s cash equities business in the US and may announce details as part of a wider restructuring of its ...

Bloomberg The European Union spurned UK calls for a legislative fix to the threat posed by Brexit to trillions of dollars of financial contracts, telling banks and insurers to solve the problem themselves. Valdis Dombrovskis, the EU’s financial-services policy chief, said the private sector must take the lead in ensuring that existing contracts can continue and not be disrupted when ...

Bloomberg UBS Group AG’s freshly-combined wealth management unit didn’t get off to the best start. The business, which accounts for about half UBS’s pre-tax profits, posted first-quarter earnings that missed analyst estimates. That disappointment and lower-than-expected asset management results eclipsed a star performance at the investment bank, sending the shares down the most in three months. Chief Executive Officer Sergio ...

Bloomberg Rolls-Royce Holdings Plc is in talks with Aero Engine Corporation of China on a possible partnership that would see the companies jointly supply engines for a new wide-body aircraft planned by China and Russia, according to people familiar with the matter. The two companies met earlier this year on whether to cooperate on the turbine for the CR929 wide-body, ...