Moody’s Corp. downgraded China’s sovereign credit rating for the first time in 28 years. In doing so, the rating agency is acknowledging the dragon in the room: China will have to pay the price for its epic debt binge, whatever policymakers do from here. The burning question in China these days is whether the government is serious about tackling the …

UK police investigating the Manchester terror attack say they have stopped sharing information with the US after a series of leaks. Since the beginning of this century, the US intelligence services and their clients have acted as if they wanted the world to know they couldn’t guarantee the confidentiality of any information that falls into their hands. At this point, …

Bloomberg It usually doesn’t work this way: stocks vaulting to records, and bearish traders getting more aggressive. Lately, it has. The S&P 500 Index has climbed 7.9 percent since January, including its biggest gain since April in the just-completed week. At the same time, short interest as a proportion of total shares outstanding has also expanded, rising by 0.3 percentage …