Bloomberg European Union (EU) leaders failed to clinch a deal on its next long-term budget as deep divisions over spending bubbled up in the aftermath of Brexit. After a 28-hour extraordinary summit in Brussels, they conceded it was impossible to nail down a seven-year spending plan and will have to reconvene sometime before the end-2020 deadline. “Unfortunately today we’ve observed ...

How often do you see a piece of economic or financial information revised upward by 45%? And how reliable would you regard a data set that’s subject to such adjustments? This is the problem confronting epidemiologists trying to make sense of the novel coronavirus spreading from China’s Hubei province. On February 13, the tally there surged by 45% — or ...

Italian banks embarking on a round of consolidation was always a matter of when, not if. Meager profitability, a fragmented industry and a desperate need for investment are obvious ingredients for M&A. Lenders have rid themselves of most of the bad loans that crippled Italy’s banks after the financial crisis, so dealmaking should be unhindered. Intesa Sanpaolo SpA’s surprise $5.3 ...