India’s insolvency tribunal has made a dangerous decision. Unless its judgment is quashed, credit costs for India Inc. will surge, shares of state-run banks will swoon and foreign investors will flee. The case concerns the country’s most high-profile bankruptcy, Essar Steel India Ltd. Insolvency judges recently ruled that creditors whose claims are backed by collateral won’t get preferential treatment in ...

The European Union’s satellite navigation system, Galileo, has been down since July 11. The outage, the longest-ever of such a service, highlights how difficult it will be to wean the world off its dependence on the US, Russian and Chinese militaries for critical (and lucrative) navigation services. At the time of writing, Galileo’s 24 satellites were listed as “not usable” ...

Bloomberg US equity futures drifted with European stocks as a mixed bag of corporate earnings gave traders food for thought amid fresh trade tensions. Treasuries yields edged lower and European government bonds climbed. Contracts on the S&P 500, Dow Jones and Nasdaq gave up some their early gains after Bank of America’s net interest income fell short of analysts’ expectations, ...