Generals always fight the last war, they say, and it seems right now that lots of people are looking for the next Bear Stearns or Lehman Brothers. They’re only half right. The 2008 crisis that killed these investment banks started with subprime mortgages and complex credit products, but became an epic rolling disaster due to a rapid loss of ...

Bloomberg At least 15 countries mainly of the Nato military alliance, including the U.K. and the Netherlands, have signed a letter of intent to join a long-term German project to create a European anti-missile shield that would boost protection for much of the continent. The system will have several layers to intercept various kinds of missiles from different heights, possibly ...

Bloomberg Italian lawmakers on Thursday elected an ally of right-wing leader Giorgia Meloni as Senate president, in a vote that exposed early rifts within the coalition backing the likely next prime minister. In its first session since the Sept. 25 elections, the Senate chose Ignazio La Russa, a member of Meloni’s Brothers of Italy party, as president, even as lawmakers ...