With its debts surging and growth sluggish, China has hit on a new strategy to revitalize its ailing economy. It’s the same as the old strategy. Only this time, it won’t work. Earlier this month, China’s State Council released guidelines for a new swap program, in which companies can exchange troubled debt with banks in return for equity. The ...

  Next Tuesday will be the start of open enrollment for Obamacare’s state exchanges, which offer health insurance to the 7 percent of Americans who buy their own coverage. It’s an anxious moment for the program: Enrollment is expected to remain significantly less than originally hoped. Some insurers have pulled out of the exchanges altogether. And those that remain have ...

  Former deputy head of the Bank of England’s Prudential Regulation Authority Paul Fisher has made an emphatic remark: Climate change could trigger the world’s next financial crisis. This should ring alarm for the policy makers. Fisher has warned that sudden repricing of assets due to climate change could hugely affect businesses across the globe. His comments come close on ...