It’s rare for an anonymous quote in a management consultant’s report to make much of an impression. But the admission by the chief financial officer of an unnamed global bank on the mystery that surrounds his own company’s technology spending is striking. It’s especially troubling for investors in the finance sector. “I know 50% of my digital transformation spend is ...

India’s great telecom melee was bad enough as a brawl between service providers and the state, with operators complaining about the government’s outlandish claims on their past revenue. Now, consumers have jumped into the fray. A confusing three-cornered fight could lead to ugly outcomes: The country’s broken financial system would take a fresh hit; new 5G networks could be delayed; ...

Bloomberg Intensifying concern about the economic and human impact of the coronavirus sent stocks, oil and China’s yuan tumbling on Monday while spurring haven assets. Treasuries gained and Italian bonds jumped after regional elections. The Stoxx Europe 600 Index headed for its worst decline since October, with miners dropping by more than 4%. Contracts on the main US equity benchmarks ...