More than three years after the Brexit referendum left investors with $23 billion trapped in seven UK real estate funds, holders of another property portfolio have discovered that when their right to daily redemptions meets the reality of hard-to-sell assets, their money can become a hostage to illiquidity. M&G Plc last week said it’s freezing a 2.5 billion-pound ($3.3 billion) ...

With India’s nominal GDP growing at its slowest pace in 17 years, it’s a given that the central bank will cut interest rates again. What’s the point, though? Commercial bank lending rates have turned immune to monetary policy, so much so that a sixth reduction this year in the benchmark price of money will make hardly any difference. The only ...

Bloomberg Hong Kong Airlines Ltd. averted becoming the first carrier to collapse in the city in more than a decade after the local licensing authority said it won’t take further action against the embattled company on certain conditions. To keep its license, the airline must ensure it has a cash injection at a level determined by Air Transport Licensing Authority, ...