A candid memoir by former US Defense Secretary Ash Carter provides a rare opportunity to better understand President Barack Obama’s Syria strategy before it recedes into the historical distance. His many valuable insights raise one big question, however: Why did the US even get involved? The apparent goal of Carter’s detailed reminiscences is to establish his role in the defeat ...

Tim Ryan’s challenge to House Minority Leader Nancy Pelosi last year had no chance of seriously threatening her position because the bulk of the Democratic caucus is more liberal than him. But a new one from California’s Linda Sanchez taking aim at Pelosi, Minority Whip Steny Hoyer and Assistant Minority Leader James Clayburn could prove quite serious indeed. Sanchez is ...

Economists would almost universally agree that fiscal discipline is a good thing. No government should aspire to live beyond its means. If it does, the consequences can be severe: higher inflation, higher interest rates, low private investment and lower growth. India’s current government has justly been praised for its fiscal restraint. It’s reduced the overall fiscal deficit and reoriented spending ...

Bloomberg The euro extended gains and Spanish assets held their advance as the country’s government maintained a hard line on Catalonia’s independence bid. The dollar weakened as investors awaited minutes from the last Federal Reserve meeting. “Fed minutes could show a discussion on inflation, which the market is likely to take as dovish,” said Mark McCormick, North American head of ...

Reuters Insurance stocks helped to drag down Saudi Arabia’s market on Wednesday because of fears of a shakeout in the industry, while bourses in the United Arab Emirates and Qatar rose, helped by a bullish global trend in equities. The main Saudi index sank 2.2 percent to 6,890 points, closing significantly below the 200-day moving average, now at 7,042 points, ...

Bloomberg Bank of England (BOE) Governor Mark Carney is ready to raise interest rates from a position of economic weakness rather than strength. The fastest inflation in four years has left the UK central bank preparing to hike next month for the first time in more than a decade, yet it’s not an accelerating economy fanning those price pressures. Instead, ...

Bloomberg European Central Bank (ECB) policy makers are poised to preserve their commitment to ultra-low interest rates even as they wrangle over how long to keep their bond-buying program going. Members of President Mario Draghi’s Governing Council will meet this month amid discord over whether a strengthening economy means now is the time to plot an end to more than ...

Bloomberg The Swiss National Bank’s shock policy U-turn in 2015 has gone down in the annals of history for roiling markets. Now two of the institution’s economists have, in effect, backed its approach to communications. Thomas Lustenberger and Enzo Rossi argue that increased central bank communication over the years has “created confusion rather than clarity” and hasn’t helped investors and ...

Bloomberg UBS Group AG Chief Executive Officer Sergio Ermotti signaled that the world’s largest wealth manager has resolved its capital and legacy costs and shareholders’ focus is turning to returns. “Investors are waiting for the time in which the capital buildup to fulfill regulatory requirements is over and the costs associated with legacy matters is addressed,” Ermotti said in a ...

Bloomberg Cash-loving Swiss will soon have a 50-50 chance of paying with a crisp, new banknote. With the introduction of its new 10-franc bill, the Swiss National Bank (SNB) will be half way through its new series. Introduced in April 2016, the notes feature motifs depicting typically Swiss characteristics and have cutting-edge security features. The newest is yellow and based ...