In times of distress, a centralised financial system can go a long way. Global investors, bruised by an ugly week of asset selloffs, can perhaps consider buying the dip — but only in China. In the past, if the US sneezed, emerging markets would soon be in the emergency room. Not this time. While the S&P 500 Index is heading ...

It’s not often these days that Germany’s Social Democrats have good economic ideas. But a forthcoming initiative by one of them makes eminent sense, and deserves more support than it’s likely to get. Olaf Scholz, the finance minister, wants to suspend the country’s so-called “debt brake,” a constitutional limit on public deficits and borrowing. But the SPD’s senior partners in ...

With impeccable timing, the private equity industry has agreed a jumbo leveraged buyout (LBO) just as markets have turned dramatically. It’s a bad look, and Advent International and Cinven will have to strain every sinew to make their 17 billion-euro ($19 billion) deal for Thyssenkrupp AG’s elevator business pay off. Germany’s Thyssenkrupp is a distressed seller but the industrial conglomerate ...