President Trump’s planned nomination of Nellie Liang to the Federal Reserve’s Board of Governors, which oversees everything from interest-rate policy to financial stability, is a little surprising. She’s admirably well-qualified and in every way a good choice. Trump hasn’t always shown such good judgment. Some of the officials he’s appointed elsewhere are even at odds with the missions of the ...

Just when it looked like big central banks were swimming in the same direction, they are starting to come apart. The gaps this time are not explained simply by inflation or employment, but are driven by the international outlook and how that may affect domestic economies differently. Central banks all have domestic mandates, but the world is so inter-connected and ...

Last week, the National Aeronautics and Space Administration (Nasa) launched the Ice, Cloud and Land Elevation Satellite-2, which will monitor Earth’s ice sheets, recording changes in ice thickness as small as half a centimeter. The satellite will allow us to see one consequence of our collective pressure on the planet’s environment. And yet it will, in a small way, also ...

Citigroup Inc. has struggled to regain its footing since the financial crisis. The stock is still down more than 60 percent since the fall of Lehman Brothers Holdings Inc., the worst performance by far of the big US banks. But there’s one thing for which Citi and Michael Corbat, CEO for the past six years, have been praised: cost control. ...

Bond investors often say that “No one wants to be a forced seller.” And that makes perfect sense: If you need to sell during a rout, no matter the price, you’re going to take a big hit. But it should be equally as scary to be a forced buyer. Increasingly, that’s what happening in the US high-yield corporate bond market. ...

Bloomberg As Denmark comes to grips with its role in one of Europe’s worst dirty money sagas, its parliament is working overtime to stop the nation’s credit rating from being dragged down by the scandal. Danske Bank A/S has admitted that about $234 billion flowed through a tiny unit in Estonia between 2007 and 2015, and is treating a “large” ...

Bloomberg Nazir Razak, the brother of Malaysia’s former prime minister, has decided to step down as chairman of the country’s second-largest bank by the end of this year. Nazir, 52, has announced his intention to step down from the board of CIMB Group Holdings Bhd. after 29 years at the helm, the lender said in a statement to the stock ...

Bloomberg Indonesia has almost 2,000 banks and a currency that’s plunged 11 percent since January, a combination overburdened regulators hope will prove irresistible to foreign acquirers. The country’s lenders are in much better shape than during the Asian financial crisis of 1997-98, and have stood up well to the weakening of the rupiah this year, said Fauzi Ichsan, chief executive ...

Bloomberg Wells Fargo & Co. CEO Tim Sloan said he’s prepared to keep running the company for much of the next decade, as he shifts from two years of navigating crises to focusing on improving shareholder returns. “There’s growth opportunities everywhere,” Sloan, 58, said in an interview, commenting just two days after the bank’s chairman batted back Wall Street whispers ...

Bloomberg Gold is set to surge over next year as concerns deepen about the widening US budget deficit and a tariff-driven trade war starts to damage the country’s economy, according to Bank of America (BofA) Merrill Lynch . Bullion could average $1,350 an ounce in 2019 as corporate tax reforms worsen the US fiscal balance, Francisco Blanch, head of global ...