Bloomberg Flames leap from cauldrons brimming with molten iron as they’re tipped into giant vats at one of Europe’s largest steel mills. Heated to over 1,000 degrees Celsius (1,832 Fahrenheit) in furnaces fired by coal, the liquid metal sloshing at Thyssenkrupp AG’s facility in Duisburg, Germany, will eventually wind up in automobiles, wind turbines and everyday household items from washing ...

Bloomberg President Donald Trump said the US will impose major new sanctions on Iran on Monday, days after he abruptly called off a plan for airstrikes against the Islamic Republic based on the concept of proportionality after Iran shot down a US Navy drone. The sanctions move, announced on Twitter with no additional detail, came as Trump spent the day ...

Bloomberg The Ethiopian army’s chief of staff was shot dead by a bodyguard in what the government of Africa’s second-most populous country said was an assassination related to an attempted coup. General Seare Mekonnen and retired Major General Gezai Abera were killed at the army chief’s residence in the capital, Addis Ababa, Prime Minister Abiy Ahmed’s office said in an ...

Bloomberg President Donald Trump put off for two weeks the start of a planned nationwide roundup of undocumented immigrants, tempering a vow made to have them “removed from the country” starting next week. Trump said he was acting “at the request of Democrats,” although immigration officials suggested that reports on the timing of the actions played a role. The delay ...

Bloomberg North Korean leader Kim Jong-un received a personal letter from US President Donald Trump, state media KCNA reported. The letter has “excellent content” and Kim, along with his military, read it with “satisfaction,” KCNA reported. Correspondence between Trump and Kim “has been ongoing,” White House Press Secretary Sarah Huckabee Sanders said in a statement, confirming the letter was sent ...

Bloomberg Boris Johnson pitched his bid for UK prime minister to Conservative Party members and drew cheers when he dodged questions about a spat with his partner that brought the police to his London home. Front-runner Johnson and his opponent Jeremy Hunt made their opening appeals to grass-roots Tories at a hustings, or political roadshow, that focussed attention on Johnson’s ...

The most important variable in the current Persian Gulf confrontation is time. The Trump administration wants to play a long game, to draw the sanctions tourniquet ever tighter. Iran needs to play a short game, to escape the American chokehold before it becomes fatal. This inner dynamic helps explain this past month’s events in the Gulf – Iran’s steady escalation ...

It’s a good conservative principle that where possible, the government should recover the cost of its services from the people who use them, rather than from taxpayers at large. It’s also pretty uncontroversial that the government must oversee financial markets, to ensure that they are free and fair. It thus makes sense that the government should charge a user fee ...

Earlier this month, my colleague Elisa Martinuzzi suggested that merging Deutsche Bank AG and UBS Group AG would, on paper at least, create a European banking champion. She concluded, though, that the regulatory obstacles to such a deal would probably be insurmountable. But there is a three-way combination that could create a regional lender with the heft to take on ...

In a week defined by the prospect of fresh monetary stimulus around the globe, the country sending the loudest signal may surprise you: Indonesia. In the months after the Federal Reserve’s January pause in rate increases, Bank Indonesia remained extremely cautious, weighing low inflation against its bugaboo, the current-account deficit. Now, the central bank is unambiguously hinting that cheaper money ...