‘Back channels’ have been used by every modern president, from John F. Kennedy to Barack Obama. If that’s so, what’s the problem with the pre-inauguration contacts between White House adviser Jared Kushner and two Russian intermediaries? It’s a fair question. But that doesn’t mean that the right answer is a reflexive approval of Kushner’s contacts, as offered by Homeland Security …

Balance-sheet turbulence at large Indian companies is nothing new. The $180 billion of stressed assets in the banking system are mainly due to about 60 big corporate accounts. Yet two things make this week’s meltdown in the shares and debentures of Reliance Communications Ltd an unusual cautionary tale. Banks and bondholders are sitting on a combined $7 billion exposure to …

UK Prime Minister Theresa May’s election campaign has run into a spot of bother. Less than a month ago the Tories were leading Labour by more than 20 percentage points and heading, it seemed, for a landslide victory on June 8. One recent poll has cut that lead to just five points. The setback is May’s fault — and, oddly …