Bloomberg Romanian President Klaus Iohannis is meeting political parties as the Black Sea nation looks to appoint its third prime minister in a year following this week’s shock unraveling of the government. The Social Democrats, who won a landslide election victory in late 2016, proposed European Parliament lawmaker Viorica Dancila to replace Mihai Tudose as premier. The ruling party is ...

Bloomberg The threat of large-scale cyberattacks and a “deteriorating geopolitical landscape” since the election of US President Donald Trump have jumped to the top of the global elite’s list of concerns, the World Economic Forum said ahead of its annual meeting in Davos, Switzerland. The growing cyber-dependency of governments and companies, and the associated risks of hacking by criminals or ...

Bloomberg The Catalan crisis is proving to be a millstone around the neck of the Spanish prime minister. Mariano Rajoy saw his People’s Party routed in elections in the rebel region last month and it has plumbed historic lows in opinion polls as the premier’s hesitant efforts to keep the push for independence in check disappoint voters across the rest ...

The effects of the Trump administration corporate tax reform on US multinationals that were, as of the end of last year, holding some $1.4 trillion in cash overseas, are largely beneficial: Now these companies finally know how much of that money the US wants — and there’s also some long-awaited clarity on how foreign profits will be taxed going forward. ...

French president Emmanuel Macron gave a horse to his Chinese counterpart Xi Jinping, but handing over the Airbus A380 has proved more difficult. The visit started with talk about Airbus offering China a production role on its superjumbo aircraft to secure a program-extending order for the slow-selling jet. While discussions were held on sales of the A380, according to Macron, ...

GKN Plc’s defenses could scarcely be weaker in the face of Last week’s unsolicited takeover approach from plucky deal machine Melrose Industries Plc. But the British engineer was right to reject this audacious proposal. Its shareholders, however desperate for a boost, should be wary of surrender. Last year was terrible for GKN. Accounting errors and mismanagement in its US operations ...

The unrelenting selloff in China’s $9 trillion onshore bond market last year caused deep angst among investors. That performance is far from enticing as the country aims to further open up this market, the world’s third largest, through initiatives such as the Bond Connect programme. For now, foreign investors account for less than 2 percent of the onshore market, though ...

What drives volatility? In equities these days, it turns out, not much. With just 6.8 percent realized volatility in the S&P 500 Index, 2017 marked the least volatile year since 1964. Low correlation among stocks, muted inflation variability and market-friendly central bank policies all played a role. But that hasn’t stopped investors from asking, ‘Who ate the vol?’ We point ...

Citigroup Inc. investors are rightly looking past the ugly headline. The bank on Tuesday reported a large fourth-quarter loss, reflecting a bigger-than-expected $22 billion writeoff related to changes in US corporate tax laws and a move to a territorial tax regime. Importantly, the one-time charge shouldn’t compromise Chief Executive Officer Mike Corbat’s ability to deliver on targets due by 2020, ...

India’s banks were hoping the regulator would feel the pain of their bond-market losses and maybe offer a palliative. What they got instead from the Reserve Bank of India (RBI) was tough love. Condemnation by deputy governor Viral Acharya may be correct, but it won’t resolve the mess. In a speech in Mumbai on Monday, Acharya revisited the nexus between ...