Spain faces the choice between a third general election in a year or a government based on some painful, improbable compromises. At first glance, this looks like a case study on the dysfunction of European parliamentary democracy. It is, however, nothing of the kind. I’ve heard many Americans say that whoever wins the presidential election, the country will more ...

  AFP Asian markets mostly fell on Wednesday as uncertainty over the future of central bank monetary policy weighed on buying interest while warnings of an extended oil glut sank energy firms. The region’s traders were given a rocky lead from Wall Street where all three main indexes ended more than one percent lower after a plunge in crude prices ...

  AFP Indian stocks swung between gains and losses as the nation’s benchmark inflation rate eased more than estimated, reviving calls for an interest-rate cut amid a global selloff. Two shares climbed for each that dropped on the BSE 100 Index, which was little changed at 10:52 a.m. in Mumbai after changing direction at least six times. The gauge posted ...

  Bloomberg Chinese stocks dropped to their lowest level in a month on the last trading day of this week amid speculation the central bank won’t add to stimulus. The Shanghai Composite Index fell 0.7 percent at the close. The gauge has lost 2.5 percent this week, the most since May, after plunging on Monday amid a jump in the ...

  Bloomberg Emerging-market stocks fell, extending their longest selloff since June as investors weighed the outlook for policy accommodation by global central banks. The Mexican peso declined after a poll showed Donald Trump leading in Ohio. The MSCI Emerging Markets Index slumped for a fourth day as volatility increased. Indonesia led a retreat in shares as benchmarks in China, Malaysia ...

  Bloomberg Despite hopes of a new dawn for Iran’s economy after nuclear-related sanctions were lifted, major Western banks are reluctant to do business with the Islamic republic for fear of US retribution. President Hassan Rouhani has said that to reach the target of eight-percent growth needed to modernise the industrial sector and relaunch the hobbled economy, Iran needs up ...

  Bloomberg A South African bank that gave President Jacob Zuma a mortgage to settle a Constitutional Court order to repay taxpayers the money spent on upgrading his residence said it sticks to loan processes no matter who the client is. “In granting a loan, the usual processes and conditions apply no matter who the client may be,” VBS Mutual ...

  Bloomberg Sweden’s central bank presented a careful analysis on potentially changing the inflation measure it aims for, highlighting in its conclusion that any switch could damage confidence in the price target. While the current consumer price index is “somewhat problematic,” policy makers found that switching the measure could create “uncertainty” and “lead to expectations that it may be replaced ...

  Bloomberg The toll on Russia’s economy leveled by high real interest rates is worth paying because of the boost to central bank credibility, according to Fitch Ratings. “It’s a short-term cost, but once you have central bank credibility, that’s clearly a long-term benefit for the economy,” Paul Gamble, a senior director at Fitch, said in an interview in Moscow ...

  Bloomberg Some of the world’s biggest airlines, looking for a bigger foothold in Latin America, may have found a path through Colombia. Avianca Holdings SA, based in Bogota, has been hunting for an international partner to help shore up its balance sheet and support growth. The publicly traded carrier is controlled by brothers German and Jose Efromovich, who also ...