President Trump, in a rare reversal of a decision, has decided to keep “hundreds” of US troops in northeast Syria to provide “campaign continuity” and stability there as the fight against the IS extremists winds down, senior defense officials told me. “After studying it further, (Trump) has decided to take a different course” from the one he announced in December, ...

Europe’s political vicissitudes have been bad for France’s Orange SA and Germany’s Deutsche Telekom AG. Curiously, in one respect they’re proving positive for Spain’s Telefonica SA. All three reported earnings last week. Telefonica, long the poor relation among the former national carriers, provided the only bright spot, forecasting growing profit and sales this year where analysts had expected stagnation and ...

Business is booming in the European debt capital markets. Investment-grade corporate supply is up over 70 percent so far this year compared with the same period in 2018. But the incentive for investors to keep piling in is starting to wane. Secondary market credit spreads, and the yield premium over existing debt that issuers typically offer on new deals, have ...