With Brexit and the election of Donald Trump, there’s a widespread belief that populism is on the rise in the developed world. Writers and thinkers darkly warn of a crisis if elites don’t accede to the demands — explicit or assumed — of the working class. As I wrote in a previous post, it’s very hard to define whom to ...

Wells Fargo & Co. is having a hard time pleasing anyone. At its annual investor day, the second-largest US lender by market value lifted the targeted annual savings figure from its cost-cutting program to $4 billion from $2 billion by the end of 2019. The move, which was flagged by analysts after hints from the bank itself, comes after Wells ...

Ask Australians what they hate about their big four banks, and you get a familiar litany of complaints. Borrowing rates are too high, and deposit rates too low. Profits — almost A$23 billion ($17 billion) in the most recent fiscal year — are obscenely fat. Slick sales types promote financial products to under-informed punters without disclosing the full risks. Other ...