In President Donald Trump’s latest effort to wall the U.S. off from the rest of the world, his administration has ditched a plan to make it easier for successful foreign entrepreneurs to come and work in America. The decision may play well with the president’s nationalist base, but it will not help the U.S. economy. The administration has delayed (and …

Almost overnight, it seems, the decade-long expansion of rooftop solar in the US has come to an end. Installations are set to fall by 2 percent this year, according to Bloomberg New Energy Finance. Partly to blame is a widening campaign to end a key customer incentive, homeowners’ ability to sell their extra energy back to the grid at retail …

Paradigm shifts do not come often in economics. From Adam Smith to John Maynard Keynes, there is only a handful of scholars who can claim to have radically changed the way we think about how markets should work and what governments can do to improve their functioning. One such moment came almost 50 years ago when Milton Friedman delivered his …

So much for Brexit triggering an immediate economic meltdown. While the pound has fallen 13 percent against the dollar since Britons voted to leave the European Union in June last year, the country’s economy has performed respectably, so far. A year later, however, signs the UK is approaching a tipping point are building. Britons are paring their spending on clothing, …

Imagine that tomorrow, some smart kid invented a technology that let people or physical goods pass through walls, and posted instructions for how to build it cheaply from common household materials. How would the world change? Lots of industries would probably become more productive. Being able to walk through walls instead of being forced to use doors would make it …

Bloomberg HDFC Bank Ltd is threatening to end Axis Bank Ltd’s decade-long reign as the largest arranger of rupee-denominated corporate bonds as sales climb to a record for a third straight year. India’s most valuable bank has managed Rs481.5 billion ($7.5 billion) of offerings so far this year, jumping 11 notches from 2014 to number two on Bloomberg’s league table. …

Bloomberg Citigroup Inc. has chosen Frankfurt as its newest trading hub in the European Union and plans to present that option to its board of directors this week for approval, according to a person with knowledge of the decision. The choice to expand the bank’s existing broker-dealer in the German city means it will create between 150 and 250 new …

Bloomberg BNP Paribas SA agreed to pay $246 million to settle Federal Reserve allegations that the bank failed to keep its currency traders from using electronic chatrooms to manipulate prices. The Fed ordered the Paris-based lender to improve its oversight and internal controls for foreign-exchange trading. BNP Paribas also agreed to $350 million settlement in May with the New York …

Bloomberg The new chief executive officer of Piraeus Bank SA is trying to make up for lost time. CEO Christos Megalou must offload 4 billion euros ($4.6 billion) in bad loans by the end of the year under a restructuring plan worked out with the European Central Bank’s supervisory arm months before he took over at the largest Greek lender. …

Bloomberg Wells Fargo & Co. exercised an option to buy the rest of Golden Capital Management, an ‘active quant’ investment firm that helps oversee $10 billion. The bank, which built up a 65 percent stake in Golden in 2011, said in a statement that it finished purchasing the rest at the start of this month. It didn’t disclose the terms. …