The junk-bond bears have been terribly wrong this year. But they’re sticking with their pessimistic calls. Distressed-debt investor Anchorage Capital, for example, which lost 1.48 percent in the first six months of the year, has urged clients to start preparing for a downturn, Bloomberg News reported Thursday. The founders of rival King Street expressed a similar sentiment in a ...

  Data shows that Japan’s economy stalled in the April-June quarter. It has missed the market forecasts and reignited worries about the government’s bid to prop up economy. Tokyo stocks fell after hitting their highest levels for over two months in the previous session. Japanese Prime Minister Shinzo Abe recently announced a massive 28 trillion yen ($276 billion) package aimed ...

  How much leeway should Marines have to express their religious beliefs? According to Congress, religious liberty laws apply with full force to the military. But last week the highest court in the armed forces put some limits on claims by active-duty personnel. Those limits cut against recent trends in Supreme Court jurisprudence — but they make a lot of ...

  Albert R. Hunt The lunch group in Monessen, Pennsylvania, is evenly divided between Trump supporters and Trump opponents. But the dark mood across the whole room suggests why this working-class town might end up favouring him in November. Monessen, once a steelmaking hub, has steadily lost plants, jobs and population over the decades. Along Donner Avenue, there are more ...

  Reuters Stock markets in Dubai, Qatar and Egypt climbed to multi-month highs on Monday but Saudi Arabia was dragged lower by banking shares vulnerable to economic pressures due to low oil prices. Dubai’s index rose 1.0 percent to end at 3,602 points, just below technical resistance at its April peak of 3,605 points, as trading volume more than doubled ...

  Bloomberg European shares were little changed, with Germany’s DAX Index erasing its annual drop, as investors assessed recent gains in light of the outlook for earnings and economic growth. Rebounding automakers posted the best performance of the Stoxx Europe 600 Index’s 19 industry groups. Volkswagen AG’s 1.4 percent advance buoyed the DAX, which entered a bull market last week, ...

  AGENCIES Indonesia, an aviation market with one of the world’s worst safety records, had its air-safety rating upgraded by the US Federal Aviation Administration, a move that may add momentum to flag carrier PT Garuda Indonesia’s expansion plans. The Southeast nation’s transport ministry said it received a letter from the U.S. embassy saying Indonesia got elevated to Category 1, ...

  Bloomberg Millions of flyers in China may soon see their wish come true: authorities are considering lifting restrictions on the use of mobile phones on planes, paving the way for wider in-flight connectivity that is now available only in developed markets. A legislation to amend regulations that limit the use of electronic devices on board is underway and the ...

  AP Macy’s plans to close about 100 stores next year and boost its online investments, the nation’s largest department store chain said, as it tries to become more nimble in an increasingly fierce market. The closures represent close to 14 percent of its stores under the Macy’s brand. The company, which operates Bloomingdale’s stores as well, said it would ...

  Bloomberg London properties are taking longer to sell this month, despite a summer price cut, as Brexit uncertainty compounds the dampening effect of the holiday season. Homes in the UK capital are staying on the market for five days more than in May, the month before Britons voted to leave the European Union, property website Rightmove Plc said in ...