Bloomberg The US and China declared a truce in their trade dispute over the weekend, but that will prove temporary if the world’s two largest economies fail to deliver on their vague commitments to re-balance trade. “We’re putting the trade war on hold,” Treasury Secretary Steven Mnuchin said after the two sides released a joint statement a day earlier. “Right ...

Bloomberg The biggest asset sale under India’s new bankruptcy law offers a breather to the nation’s banks, a number of which posted record losses for last quarter. Tata Steel Ltd. bought insolvent Bhushan Steel Ltd. and is paying 352 billion rupees ($5.2 billion) to Bhushan’s creditors. This is about 63 percent of the 560 billion rupees claimed by a consortium ...

Bloomberg Currency intervention is becoming a daily necessity for Hong Kong as the local dollar continues to trade at the weak end of its trading band. The Hong Kong Monetary Authority spent HK$5.99 billion ($763 million) buying local dollars as the weekend began, bringing its purchases over the past week to HK$19 billion. Lower interest rates relative to the greenback ...