Bloomberg The trade war may be on hold, but the US and China’s slide towards a new Cold War is only accelerating. The Trump administration’s decision to effectively expel much of China’s state-run media staff is the clearest sign yet of a fundamental shift in how Washington manages its relationship with Beijing. Starting from March 13, four Chinese media companies ...

Bloomberg The Federal Reserve slashed interest rates by half a percentage point in the first such emergency move since the 2008 financial crisis, amid mounting concern that the coronavirus outbreak threatens to stall the record US economic expansion. The rate cut, which came between the central bank’s regularly scheduled meetings, was announced hours after Group of Seven finance chiefs held ...

Bloomberg European Union (EU) officials are weighing a new crackdown on bank bailouts after national governments exploited loopholes in rules passed in the wake of the financial crisis. One focus of the discussions is the so-called “precautionary recapitalisation” rule that Italy used to inject 5.4 billion euros ($6 billion) into Banca Monte dei Paschi di Siena SpA in 2017, according ...