For years, economists and policymakers have hailed the propensity of Chinese to save. Among other things, they’ve pointed to low household debt as reason not to fear a financial crash in the world’s second-biggest economy. Now, though, one of China’s greatest economic strengths is becoming a crucial weakness. Over the past two weeks, as they’ve held their annual work meetings, ...

Apple proclaims each new iPhone model is the best one it has ever made. The company says every software update is better than the last. In general, Apple believes everything it does is awesome. There’s a consequence to declaring victory no matter what: it becomes impossible to define success. One example is the Apple Watch. In April 2016, one year ...

People concerned about robots taking away jobs might want to consider where it’s already happened. Machines with varying levels of intelligence have quietly taken over the most glamorous, coveted and admirable job in the world — space exploration. It’s not that people can’t still be astronauts — it’s just there aren’t nearly enough jobs for all the people with the ...

Bloomberg The banking crisis engulfing the tiny nation of Latvia has turned into a potential diplomatic incident, as Riga points the finger at Moscow. “There is a high probability that an externally organised widespread information operation is being carried out that, by its structure and execution, is identical to those observed in pre-election periods in the US, France and Germany,” ...

Bloomberg Lloyds Banking Group Plc is seeking to catch up with peers and will invest more than 3 billion pounds ($4.2 billion) in technology as part of a new three-year strategic plan. It will also buy back up to 1 billion pounds of its own shares. Chief Executive Officer Antonio Horta-Osorio called the investment in technology a “massive undertaking,” at ...

Bloomberg HSBC Holdings Plc’s new Chief Executive Officer John Flint says he’s exploring all options for the lender’s asset management unit, including a merger, to create a larger player that can compete better as the industry consolidates. “We continue to do a lot of work around asset management, to explore all the options, but it’s too early to give any ...

Bloomberg The story of how India’s biggest bank fraud went undetected for seven years includes an $81 million cyber-heist in neighbouring Bangladesh, penny-pinching lenders and a series of missed opportunities. In 2016, after revelations that hackers had infiltrated the Bang-ladeshi central bank’s computer systems to siphon off money, its cou- nterpart in India sensed a danger to its own banking ...

Bloomberg Handing over a new aircraft is usually a celebratory affair: the customer inspects the new toy, the planemaker breathes a sigh of relief, and everyone poses with a big smile. For Airbus SE’s second-in-command Fabrice Bregier, the delivery of the first A350-1000 model came with a bitter-sweet tinge: his last day at the European manufacturing giant after being overlooked ...

Bloomberg Walmart Inc.’s battle with Amazon.com Inc. is hitting its bottom line like never before—and testing the patience of investors. The retail giant’s push to expand online operations and cut prices contributed to a record-low operating margin last quarter, according to data compiled by Bloomberg. The profit measure narrowed to 3.3 percent, sparking concerns that Walmart’s long-enviable financial cushion is ...

Bloomberg Yum! Brands Inc.’s KFC warned that a supply-chain breakdown that has shut more than half of its 900 UK outlets would persist for the rest of the week, continuing to deprive fans of their fried-chicken fix. KFC said it’s working with new logistical partner Deutsche Post AG to solve a problem that began over the weekend, leaving only 430 ...