The tiny Himalayan kingdom of Bhutan, landlocked between the teeming multitudes of China and India, shot to global fame in the 1970s with gross national happiness: a broad measure of overall welfare it prefers over the more traditional metric of gross domestic product, which only includes production of goods and services, even those that ultimately leave us miserable. More recently, ...

While traders and policy makers preoccupy themselves with the question of Federal Reserve Chair Jerome Powell’s reappointment, a quiet battle for influence within the institution is intensifying. The exit of two regional officials could quiet dissent and further strengthen the chair’s considerable grip on monetary policy in the world’s largest economy. Eric Rosengren, president of the Boston Fed, and Robert ...

Bloomberg Rolls-Royce Holdings Plc agreed to sell its ITP Aero unit in Spain to a group led by Bain Capital for 1.7 billion euros ($2 billion), netting the British jet-engine maker much-needed cash to help it recover from the coronavirus crisis. The sale to Bain, JB Capital and Spanish defense firm Sapa will help Rolls rebuild its balance sheet, the ...