Britain’s new relationship with the European Union is still a long way from being settled, but Brexit has started a process that is bound to hurt the City of London. Earlier this month, the European Commission launched a review of the rules governing one of the City’s lucrative lines of business — the clearing of derivatives denominated in euros. The …

North Korea test-fired yet another ballistic missile on Sunday in a stark defiance of United Nations sanctions and US warning that a policy of patience was over. It was a new ground-to-ground medium long-range strategic ballistic rocket Hwasong-12. It came days after South Korea’s newly elected president Moon Jae-in vowed to engage with North Korean leader Kim Jong-un. The missile …

At a victory rally for France’s young new President Emmanuel Macron outside the Louvre last week, I was struck by the generational gap between the candidate and his most animated supporters. Most younger people in the crowd looked relieved but far from overjoyed; the most visibly enthusiastic among them were of West African or Arab descent. And when Macron took …