Leaders of the European Union are allowed a moment of joy at the outcome of the UK election. Britain’s voters have just handed the Conservative Party, author of the country’s Brexit disaster, its head. But the EU shouldn’t let the cosmic justice of this outcome cloud their judgment about where their own interests lie. The Brexit decision is unlikely to ...

No country has more potential for the improvement of the human condition than India. Home to more than 1.3 billion people and soon to overtake China as the world’s most populous country, India is also still desperately poor — its gross domestic product per capita is less than $6,000 in purchasing power parity terms, less than half that of China ...

It’s a bad day to be a UK press baron. Fleet Street’s finest had lined up to endorse Theresa May ahead of an election that backfired badly for her. Rupert Murdoch’s tabloid Sun, credited for swinging elections in the past, had called on Brits to keep Jeremy Corbyn’s “sinister Marxist gang” from power. Given the result could also jeopardize his ...

Three recent bank rescues in Europe could form the backbone of a textbook on how to deal with large, failing banks — and how not to. These are the uncompromising bail-in of Banco Popular in Spain, the controversial rescue of Monte dei Paschi di Siena in Italy and the much-praised but in fact horribly botched nationalization of Ukraine’s largest bank, ...

Bloomberg Technology companies led a bounce in European stocks as a global selloff that started in the sector last week showed signs of abating. The pound managed to advance as Theresa May survived a showdown with rank-and-file lawmakers and sought to prop up her minority government. Almost every industry group in the Stoxx Europe 100 Index traded in the green, ...

Bloomberg A rally in bonds of China’s most-indebted developer has some analysts warning that steps to cut borrowings have yet to bring leverage down to healthy levels. China Evergrande Group said that it has agreed to sell its stake in China Vanke Co. for 29.2 billion yuan ($4.3 billion), freeing up cash as it cuts its debt load. That came ...

Bloomberg Asia’s central banks are stacking the sandbags. Foreign-exchange reserves are being rebuilt as monetary authorities brace for the Federal Reserve’s third rate hike in six months. While the expected move has been well telegraphed, prolonged periods of Fed tightening can cause jitters for emerging markets. Asia was slammed in 2013 when then-Fed Chairman Ben Bernanke’s hint of an end ...

Bloomberg Credit Agricole SA is considering selling part of its 31 percent stake in Saudi Arabian lender Banque Saudi Fransi, reversing earlier plans to completely exit the business, according to people familiar with the matter. France’s second-largest lender has discussed the partial sale of its Saudi operations with the country’s central bank, and has started talking to potential buyers, the ...

Bloomberg Deutsche Bank AG Chairman Paul Achleitner has offered a good news-bad news deal to former management board members: We’ll pay the unvested portion of your bonuses if you give up claims to payments withheld by the lender. The proposal is meeting resistance from some ex-board members with a larger share of the suspended bonus payments, said three people with ...

Bloomberg Kenya’s biggest bank by assets offered to buy a state-owned lender as the industry struggles to cope with interest-rate caps that have cut profits and curbed lending. KCB Group Ltd. provided an expression of interest to the Treasury to acquire a controlling stake in National Bank of Kenya Ltd., Judith Odhiambo, a spokeswoman for Nairobi-based KCB, said in an ...