Bloomberg North Korean leader Kim Jong-un received a personal letter from US President Donald Trump, state media KCNA reported. The letter has “excellent content” and Kim, along with his military, read it with “satisfaction,” KCNA reported. Correspondence between Trump and Kim “has been ongoing,” White House Press Secretary Sarah Huckabee Sanders said in a statement, confirming the letter was sent ...

Bloomberg Boris Johnson pitched his bid for UK prime minister to Conservative Party members and drew cheers when he dodged questions about a spat with his partner that brought the police to his London home. Front-runner Johnson and his opponent Jeremy Hunt made their opening appeals to grass-roots Tories at a hustings, or political roadshow, that focussed attention on Johnson’s ...

The most important variable in the current Persian Gulf confrontation is time. The Trump administration wants to play a long game, to draw the sanctions tourniquet ever tighter. Iran needs to play a short game, to escape the American chokehold before it becomes fatal. This inner dynamic helps explain this past month’s events in the Gulf – Iran’s steady escalation ...

It’s a good conservative principle that where possible, the government should recover the cost of its services from the people who use them, rather than from taxpayers at large. It’s also pretty uncontroversial that the government must oversee financial markets, to ensure that they are free and fair. It thus makes sense that the government should charge a user fee ...

Earlier this month, my colleague Elisa Martinuzzi suggested that merging Deutsche Bank AG and UBS Group AG would, on paper at least, create a European banking champion. She concluded, though, that the regulatory obstacles to such a deal would probably be insurmountable. But there is a three-way combination that could create a regional lender with the heft to take on ...

In a week defined by the prospect of fresh monetary stimulus around the globe, the country sending the loudest signal may surprise you: Indonesia. In the months after the Federal Reserve’s January pause in rate increases, Bank Indonesia remained extremely cautious, weighing low inflation against its bugaboo, the current-account deficit. Now, the central bank is unambiguously hinting that cheaper money ...

Three Russians and one Ukrainian have been charged in the Netherlands for their alleged roles in downing Malaysia Airlines Flight 17 over eastern Ukraine five years ago. Only one of them may have been in active service in the Russian military at the time, but the international investigation has plenty of evidence of official Russian involvement. I’ve said before and ...

Serco Group Plc CEO Rupert Soames frequently boasts that the UK contracting firm was an early adopter of financial carnage – to stress that the business is now the better for it. Pulling through a crisis five years ago has given Soames the credibility to embark on M&A, and he has had his eye on defense contractor Babcock International Group ...

Two months after India’s oldest private-sector airline grounded its last plane, and with even a water-bottling firm threatening to drag the carrier into bankruptcy, a consortium of lenders led by State Bank of India can finally stop pretending that a white knight is coming. With the insolvency tribunal taking Jet Airways India Ltd. under its wing, there may be one ...

Bloomberg A year after a rare default in India’s credit market led to its mini-Lehman moment, several shadow banks in the country, its oldest surviving private airline and the parent company of its biggest television broadcaster are still reeling. The fear which erased more than 1 trillion rupees ($14.4 billion) in market capitalisation of the 11 worst-hit firms is refusing ...