Europe’s banks are eager to show that the money they’ve splurged on bolstering their compliance departments is paying off: HSBC Holdings Plc’s reporting of a suspicious transaction helped Angola recover $500 million linked to an alleged fraud involving the son of a former president. The bigger picture is less encouraging. Despite a cascade of rules, regulations and record-breaking fines, that ...

In recent weeks, investors witnessed a rare concurrence of market developments. Widespread concern about escalating trade conflicts caused equities to plunge and US Treasury yields to decline. So far, the reaction has been a textbook case of investor behaviour. Yet, for all the turmoil, the dollar did not prove to be a safe harbour, and has remained weak against major ...

In an op-ed published by the Wall Street Journal, Alibaba Group Holding Ltd. Chairman Jack Ma made the case against escalating trade tensions between the world’s two most powerful economies. “Both Sides Would Lose a US-China Trade War,” was the headline. It’s the same argument I made a month ago, and I wasn’t the first because, frankly, it’s kind of ...