Bloomberg On a cool Delhi evening in November 2016, Narendra Modi hastily called a national address to make the most consequential decision of his premiership: Effective at midnight, some 86 percent of India’s cash would no longer be valid in a bid to stamp out corruption. Panic quickly ensued as India’s 1.3 billion people—many with no bank accounts or credit ...

In any tense military confrontation, diplomats start looking for an “off ramp” that could de-escalate tensions. But in the current standoff between the United States and Iran, it’s hard to find any such exit route. The US-Iran faceoff is one of those odd situations where both players appear eager to set off sparks, although neither seems to want a raging ...

Macy’s Inc.’s turnaround efforts didn’t backslide in the first quarter. The department store behemoth reported that comparable sales rose 0.6% from a year earlier in the first quarter, or 0.7% including licensed departments. That increase surpassed analysts’ expectations and set the retailer on track to easily achieve its full-year guidance of 0% to 1% growth on this measure. Adjusted earnings ...