Will you cross a bridge if you don’t know what’s on the other side? Unlikely. That’s the dilemma investors face as they look forward to the London-Shanghai Connect stock trading link that’s scheduled to start by year-end. The program’s timing was announced this week by People’s Bank of China Governor Yi Gang, who also said authorities will quadruple daily trading ...

Having spent nearly a decade crafting new capital requirements to bolster the resilience of the country’s largest banks, the US Federal Reserve is getting ready to do some fine-tuning. The rules can certainly be improved — but what’s needed is more than tinkering around the edges. The Fed has two main tools to ensure banks have enough equity capital, the ...

I once congratulated Mario Draghi on his performance as president of the European Central Bank (ECB), telling him he had made only one mistake. “What’s that?” came the instant question. “Taking the job,” I replied. My point was that by the time Draghi was appointed, the ECB could no longer hope to be a conventional central bank, if indeed it ...