The Manchester terror attack by an alleged IS ‘soldier’ will accelerate the push by the US and its allies to capture the terror group’s strongholds in Mosul and Raqqah. But it should also focus some urgent discussions about a post-IS strategy for stabilizing Iraq and Syria. For all President Trump’s bombast about obliterating the IS, the Raqqah campaign has been …

India’s $103 billion Tata Group, the maker of Tetley Tea, went on an extended beverage break in October last year, when it acrimoniously fired its chairman. The ensuing battle for control was distracting, but ultimately proved to be a storm in a teacup. Now that the saga is over, Tata Sons Ltd, the group’s unlisted holding company, is going back …

British police were justifiably furious when evidence from their investigation into the Manchester terrorist attack found its way into news reports. The leaks undermine the investigation and the confidence of victims and witnesses, whose cooperation is crucial. The immediate consequence is that Manchester police have stopped sharing information about their investigation with U.S. officials, who are widely believed to the …

The U.S. signed the Trans-Pacific Partnership trade deal last year, then decided not to implement it. The 11 other signatories have given themselves until November to decide whether to go ahead anyway. They shouldn’t need half that long. The deal as it stands is far better than none. Contrary to warnings from some quarters, America’s absence needn’t kill the agreement. …

Three years ago, Narendra Modi was sworn in as prime minister of the Republic of India amid much hope and tremendous expectation. A good portion of the population remains optimistic that he’ll fulfill his promises to unshackle the Indian economy. But Modi’s tenure cannot yet be judged a success for one central reason: He’s signally failed to create jobs for …

As recently as two years ago, owning shares in a bad bank charged with cleaning up nonperforming loans in China probably seemed like a good bet. Not so any more, at least for China Cinda Asset Management Co. The Beijing-based firm’s costs are rising and soured-loan growth has leveled off, or in some cases, dropped at the banks Cinda purchases …

Innovation, everybody hopes, will rescue the world from economic stagnation. I’m not so sure. The extent to which an innovation is significant depends on the degree to which it alters existing activity or the performance of a function. It must create related and ancillary activities that in turn lead to employment, wealth and other discoveries in a virtuous cycle. It …

Bloomberg Global stocks were mixed and the dollar edged lower amid thin trading as investors weighed the latest comments from a Fed official on the path of borrowing costs. The British pound advanced after a selloff. With markets in the UK, US and China all closed for public holidays, volumes were depressed across the board and most moves were muted. …

Bloomberg Saudi Arabia’s net foreign assets dropped below $500 billion in April for the first time since 2011 even after the kingdom raised $9 billion from its first international sale of Islamic bonds. The Saudi Arabian Monetary Authority, as the central bank is known, said its net foreign assets fell by $8.5 billion from the previous month to about $493 …

Bloomberg Saudi Arabia could attract tens of billions of dollars in foreign investments in the Arab world’s biggest stock market if it’s added to MSCI Inc.’s emerging-markets index, according to Deutsche Bank AG’s chief executive officer for the Middle East and Africa. Our “research anticipates a figure of up to $35 billion of inflows,” Dubai-based Jamal Al Kishi said in …