The trade fight between the US and China is posing a dilemma to the European Union: Should the world’s largest trading bloc pick a side? And, if so, which one? In theory, the US is the more natural ally for Europe: The two have cooperated closely since the end of World War II, building the multilateral institutions which are now ...

Don’t relax yet: A potential yuan devaluation is still very much on the table. Currency traders sighed with relief after Chinese President Xi Jinping moved to ease trade tensions with the US, reiterating pledges to open the country’s economy further and cautioning against a cold-war mentality and zero-sum thinking. The yuan had weakened for the four previous days, with jitters ...

European regulators are breaking something that didn’t need fixing. By pushing banks to issue senior non-preferred debt instead of traditional senior bonds, they risk inadvertently shutting many of the region’s neediest lenders out of the funding market. The securities are senior in name only — they can be turned into equity in the event of a catastrophe in the same ...