Lawrence Kudlow appears to be President Donald Trump’s pick to become the top White House economic adviser. At first glance, this television personality is an odd choice to lead the National Economic Council. But that doesn’t mean he’s a bad one. Kudlow is an avid supply-sider who never met a tax cut he didn’t like. He’s famously claimed that virtually ...

One of the themes of this economic cycle has been that tech startups have stayed private for a long time, choosing to raise money via venture capital rather than going public. When a downturn inevitably arrives, some may regret that. As prior cycles have shown, even if good startups technically can go public in a bad market, they generally don’t ...

It wouldn’t be an exaggeration to think of India’s 21 state-run lenders as one gigantic bad bank that’s financially fragile, operationally weak, and forever in need of relief and rescue. But in trying to blame the banking supervisor for the latest manifestation of the lenders’ Inspector Clouseau-like ineptitude — a $2 billion scam at the second-largest — Finance Minister Arun ...

China is hoping to become the Detroit of the battery-powered electric-vehicle industry. Sales of EVs are expected to reach 1 million this year alone, and the government has big plans for expansion. But this welcome trend comes with a perplexing side effect: China is now using up more lithium-ion batteries than anywhere else in the world. What to do with ...

Bloomberg Boeing Co.’s newest and smallest 737 Max jetliner took flight for the first time, into blue skies—and a cloudy, crowded market. The takeoff, on March 16 by Boeing’s factory outside Seattle, was characteristically drama-free for the third of four planned models in the Max family. The plane touched down at Boeing Field at 12:59 pm on March 16. Boeing’s ...

Bloomberg Emirates is set to raise $600 million from the sale of Islamic bonds as the world’s biggest airline by international passengers joins a rush of borrowers from the Gulf region. The Dubai government-owned carrier sold 10-year amortising sukuk at a profit rate of 4.5 percent, the company said in an emailed statement. The yield was cut from an initial ...

Bloomberg Bombardier Inc has hired Toronto-Dominion Bank to find a buyer for the Downsview aircraft-assembly plant in Toronto that could fetch more than C$500 million ($382 million), according to people familiar with the matter. Canada’s biggest aerospace company has received multiple bids, with residential developers in the mix, said the people who asked not to be identified because the matter ...

Bloomberg L’Oreal SA is set to acquire the Canadian beauty tech company ModiFace, gaining tools for customers to test make-up and lipstick online. ModiFace’s augmented reality technology has been widely adopted by cosmetics makers since the company was founded in 2006 and helps power the mobile apps of LVMH’s Sephora and Estee Lauder. The Maybelline maker has built a stable ...

Bloomberg Morgan Stanley and Principal Financial Group Inc. were among banks and insurers that rallied after a US appeals court struck down a sweeping Obama-era rule that aimed to protect millions of Americans from conflicted investment advice. The rule, imposed by the Labor Department (DOL), would have added an extra layer of scrutiny for the industry and increased compliance costs. ...

RIYADH / Reuters Saudi Arabia’s central bank raised its two key interest rates by 0.25 percentage points in an apparent effort to prevent Saudi money rates from falling far below US rates, which could trigger capital outflows from the kingdom. The central bank lifted its repo rate, at which it lends to commercial banks, to 2.25 percentage points and its ...