Massive infrastructure projects are almost always delivered late and over budget. The bill for London’s Crossrail project has risen to 17.6 billion pounds ($21.9 billion), while the country’s north-south HS2 rail link may end up costing an unfathomable 88 billion pounds. Even so, there’s a place in budgetary hell reserved for new nuclear power plants, for whom financial commitments and ...

From ATMs to credit cards and PayPal, the West’s dominance of innovation in consumer finance appears to have exhausted itself. At the top of the emergent new order is the fintech duo from China — Alibaba Group Holding Ltd. and Tencent Holdings Ltd. Next in line are Alphabet Inc. and Walmart Inc., whose highly localized smartphone payment rivalry is playing ...

Bloomberg Delta Air Lines Inc is dramatically expanding its South American footprint, agreeing to a $2.25 billion deal with Latam Airlines Group SA after a similar arrangement between the Chilean company and American Airlines Group Inc ran into legal trouble. The pact calls for Delta to pay $1.9 billion for a 20 percent stake in Latam, Latin America’s largest carrier, ...