Bloomberg Serbia’s government mustn’t send conflicting signals about its strategic goal of joining the European Union rather than aligning with Russia, Deputy Premier Zorana Mihajlovic said in a thinly veiled rebuke of her party’s ruling partners. “We who lead Serbia should more clearly say so, to avoid the situations which in the morning we want to be in the EU, ...

The trustees for Social Security and Medicare issued their annual reports last week. This is cause for discouragement because it reminds us how much we’ve mortgaged the country’s future to spending for older Americans. Already, Social Security and Medicare constituted 42 percent of federal spending in 2017, say the trustees. If they had included Medicaid, the share would have exceeded ...

Japan’s Government Pension Investment Fund (GPIF) has nearly $1.5 trillion in assets and a legion of external asset managers running its portfolio. The GPIF sees itself as a ‘super-long-term investor’ with the goal of a century or more of sustainable investment and outflows. Managing money for that long is a matter of stewardship, not just picking assets — and in ...