Indonesian President Joko Widodo visited Kyiv and Moscow, offering to be a diplomatic bridge between the two. The first Asian leader to make the trip to both capitals since Russia’s invasion of Ukraine, he made a few headlines, but no real progress. Critics saw the journey as image politics. And yet, Widodo’s not wrong to see a role for states ...

Everyone is stressing about consumer debt. Investors have been dropping the shares of big banks, credit-card specialists and younger fintechs because of fears about the pain that rising living costs and interest rates will inflict on borrowers. The weird thing is that households in the US, UK and much of Europe are in pretty good shape and showing few signs ...

  The most visible sign of trouble in the private equity industry right now is the collapse of one deal after another. You can’t do a leveraged buyout without the debt, and financing markets are seizing up. But buyout firms face bigger challenges than putting their stash of idle funds to work. The turn in credit markets has made banks ...