The US dollar’s position as the world’s reserve currency might be weakening. In the last few years, the fraction of global reserves denominated in dollars has been inching down: This follows a longer-term slide; at the turn of the century more than 70% of reserves were in dollars. Meanwhile, central banks are buying more gold, which could signal a lack ...

Christine Lagarde is famous for her lively and engaging speaking style. But when she holds her first press conference as president of the European Central Bank, she would be wise to play it safe. It takes time to build a reputation as a central banker who can speak clearly and then deliver on her promises. A wrong foot could make ...

Along with never invading Russia or getting into a Twitter argument, we can add another golden rule — this one specifically for US oil majors: Never buy a shale-gas business. Chevron Corp.’s $10-11 billion impairment relates mostly to the Appalachian gas assets it picked up in 2011’s $4.9 billion acquisition of Atlas Energy Inc. Back then, the Permian basin was ...