There was bound to be a political commotion when the Trump administration released its 2018 budget. After all, it isn’t every day that the White House proposes deep cuts in agency spending: for 2018, the Environmental Protection Agency would be down 31 percent; the State Department, 29 percent; the Department of Education, 14 percent; and the Department of Transportation, …

  America, one; Europe, nil. In Asia, at least, US financial institutions are climbing up the investment banking league tables while their euro-area counterparts sink. But Wall Street should not start celebrating now. How long their current reign lasts will depend to a large degree on how long fixed income, currencies and commodities business remains robust. Deutsche Bank AG, weighed …

  In between tweets last weekend, President Donald Trump took time to talk with Brazilian President Michel Temer and Chilean President Michelle Bachelet. Top of mind in both calls were efforts to encourage “respect for democratic and humanitarian rights in Venezuela.” A worthy goal, but if Trump really wants to restore democracy in Venezuela, he should let Latin America take …