Bloomberg It’s rarely a good sign when you become the butt of jokes. But that’s what happened to Pratt & Whitney at an industry gathering recently, when John Leahy, the venerable chief salesman of Airbus Group SE, went on about a futuristic airplane — with an engine that “no doubt will be delivered late.” While the audience was amused, …

Bloomberg China released guidelines for reducing corporate debt while also saying that the government won’t bear the final responsibility for borrowing by companies, the latest sign that policy makers are stepping up their fight against excessive leverage. The State Council, China’s cabinet, issued guidelines for reducing corporate debt and for how banks may swap bad debt to equity. At the …

  Bloomberg The European Union has threatened to go rogue in talks on bank capital rules, and the bloc’s willingness to go its own way could undermine global standards intended to avert a new financial crisis. Top EU policy makers have made clear that sweeping changes are needed before the EU will accept a capital-rule revamp under way at the …