An equity culture is growing in India, propelling benchmark indices BSE Sensex and Nifty 50 to a record bull run. Now beware a turning of the tide. For years, the market was a playground for foreign institutions. Since 2014, domestic investors bought $28 billion net of stocks, matching overseas buyers’ $30 billion inflow. Unlike China’s mom-and-pop day traders, Indian households ...

The UK’s Financial Conduct Authority has announced the end of Libor — the London interbank offered rate, one of the world’s most important interest-rate benchmarks. This is no minor technical adjustment. The change will have far-reaching effects in global financial markets. It’s a good move — and the timing is right. Libor is used to set payments on more than ...

France’s new president, Emmanuel Macron, vowed to attract more foreign investment and to push for greater European integration. His government’s decision to block an Italian takeover of France’s STX shipyard has broken both promises in one fell swoop. Finance Minister Bruno Le Maire said recently that France would temporarily nationalize the yard —blocking a deal that would have seen Italy’s ...