If there’s a lesson that China’s private firms should take away from the crackdown on Dalian Wanda Group Co. and its freewheeling cohorts, it’s that there’s no better time to get into bed with state-owned enterprises. That’s even the case if the partner up for grabs is China Unicom Hong Kong Ltd., the weakest of the country’s big three telecom …

Germans can be relentless at beating themselves up. When it comes to their auto industry, this tendency may be getting out of hand. The latest scandal for German automakers started with a cover story in the respected newsweekly Der Spiegel, which suggested that Volkswagen, Daimler and BMW have operated as a cartel since the 1990s. It described how the companies …

Bloomberg US stocks extended all-time highs as corporate earnings bolstered optimism about the strength of the global economy, lifting commodities. Bonds bounced as investors waited for clues on the fate of the Federal Reserve balance sheet. The S&P 500 Index advanced as results lifted stocks from AT&T Inc. to Boeing Co. Asian and European benchmark equity indexes rose, while crude …