Bloomberg Big companies often leave their suppliers hanging for weeks without pay, but Vodafone Group Plc is taking this a step further: it’s investing in a fund that makes money off the delay. The British phone operator poured 1 billion euros ($1.1 billion) into the 2.4 billion-euro fund run by beleaguered Swiss asset manager GAM Holding AG, which generates returns ...

Those of us who have always thought that Brexit — Britain’s withdrawal from the European Union — was a bad idea should be feeling self-satisfied and vindicated now. Well, we’re not; at least this observer isn’t. The reason is obvious. Many of the things that we feared would happen have happened, or might still. Worse, the consequences aren’t confined to ...

Italy’s populist rulers are famous for their contradictory positions. They’re against bailing out banks, but also oppose bailing in investors. They want to cut taxes, increase spending, but also want to keep public debt in check. They are in favour of infrastructure projects, but cannot make up their mind on whether a high-speed train link to France should go ahead. ...