An influential new recruit has joined the chorus of bitcoin skeptics. The chief investment officer of UBS, the world’s biggest wealth manager, says it’s too risky to be added to the firm’s portfolios — and his assessment is relatively mild. Others have called it “the very definition of a bubble” and even “a fraud.” Those stronger terms are justified, especially …

According to one of India’s most respected bankers, it’s a once-in-a-lifetime opportunity—a mammoth sale of distressed assets, some $40 billion in the first round. Much could go wrong, of course, especially given that so many powerful interests have so much money at stake in the process. Fortunately, Prime Minister Narendra Modi’s government, which has stumbled in some of its biggest …

By making a bid to push Reliance Communications Ltd into bankruptcy, China Development Bank (CDB) has one what Indian lenders were trying their best to avoid. But now that it’s pulled the trigger, State Bank of India and other domestic creditors won’t be terribly unhappy. The Indian wireless company owes one fifth of its $7 billion debt to CDB, which organized …