For most of the past half century, the yen has either been severely undervalued or severely overvalued against the dollar, resulting in a highly destructive boom-bust supercycle in Japan’s economy. But now, the currency is finally showing signs of stabilizing at somewhere close to fair value as defined by the Organization for Economic Cooperation and Development’s measure of purchasing power ...

Detroit’s auto giants are on the cusp of what looks like a major victory. The National Highway Traffic Safety Administration is considering making drastic cuts to fuel-efficiency targets for future vehicles that were set under President Barack Obama in 2012. US automakers would like easier mileage standards because improvements from here will raise the cost of vehicles and require selling ...

Bloomberg If Mario Draghi had to design the way his colleagues get picked, it would probably be a bit different from how it is now. The European Central Bank president twice stopped short of praising the process for board appo- intments — aside from a mention of safeguards to independence — when asked this week about how his future vice ...