Tidjane Thiam got away with a fine of half a million dollars, or just 0.009 percent of what he paid the Americans late last year. Yet the Credit Suisse Group AG CEO won’t be fooled by Singapore’s apparent leniency. Tuesday’s gentle rap concludes a two-year investigation by the city-state into banks that, knowingly or otherwise, helped facilitate an elaborate scheme …

The Federal Reserve will almost certainly take steps to start reducing its $4.5 trillion balance sheet later this year. The central bankers made that clear in the minutes from their meeting. At first blush, this seems as if it would be bad for longer-term debt, which is yielding much less than it has historically in large part because of the …

The effects of this month’s global ransomware attack seem to be fading, fortunately. But a crucial question the incident raised is only getting more urgent. When it comes to online security, the U.S. government’s priorities — preventing terrorism and protecting cyberspace — are in permanent tension. Is there a way to resolve it? The National Security Agency (NSA) routinely seeks out …