For more than a year now, a sort of phony war has been going on in the financial-services industry. Respected seers such as Deutsche Bank AG Chief Executive Officer John Cryan and Citigroup Inc.’s former chief Vikram Pandit have been prophesying a digital revolution that will see routine banking jobs replaced by automation, algorithms and artificial intelligence. To date, as …

Well, that didn’t take long. Broadcom Ltd. is exploring a $100 billion-plus takeover of chipmaker Qualcomm Inc., Bloomberg News reported. This is the same Broadcom that announced its decision to move its legal headquarters to the US in an Oval Office presentation that carried the usual bravado of President Donald Trump’s administration. We wondered then if this sudden bout of …

Donald Trump has a cautious side after all. In naming Jerome Powell as next chairman of the Federal Reserve, the president has chosen a loyal ally of the outgoing chair, Janet Yellen. At first sight, the appointment signals business as usual in monetary policy, rather than the unconventionality that some of the other candidates stood for. On the whole, this …