Bloomberg While you wait for the next interest-rate increase in the world’s largest economy, policy has quietly tightened in the second-biggest: China. The People’s Bank of China has allowed a steady increase in money market rates in recent weeks to squeeze leverage in the murky shadow banking realm. A side benefit: higher short-term rates cushion a weakening yuan, which …

  Bloomberg Facebook Inc. reported a quarter that blew past expectations. But its shares fell after executives suggested they won’t be able to repeat the performance. The stock dropped as much as 7.1 percent on Thursday in premarket trading after two sobering comments on its conference call the night before. First, Chief Financial Officer David Wehner said revenue growth rates …

  AFP The High Court struck a blow on Thursday to the British government’s plans for leaving the EU, ruling it must seek parliament’s approval before starting exit talks in a landmark judgement that could delay Brexit. Three senior judges said Prime Minister Theresa May’s government does not have the power on its own to trigger Article 50 of the …