India’s government is conducting a dangerous experiment in economic management. This week, following renewed pressure to conform to the government’s thinking, the head of the Reserve Bank of India (RBI), Urjit Patel, resigned, citing “personal reasons.” Prime Minister Narendra Modi’s officials have challenged the RBI’s operational independence before, but their latest effort marks a significant escalation. It’s a pattern seen ...

The “will they, won’t they” chatter over China’s car tariffs misses where the real action is for automakers. Confusion has abounded over the deal struck between US President Donald Trump and his Chinese counterpart Xi Jinping. Trump tweeted that China was reducing and removing its 40 percent tariffs on US car imports – two very different things. Car stocks rallied ...

Changes in the TV-entertainment industry’s competitive dynamics are already causing consumer frustration through channel blackouts and general difficulty finding content. The US Department of Justice has fixated on the role played by the gargantuan AT&T Inc.-Time Warner Inc. merger, but its Hail Mary attempt to undo the deal appears doomed to failure. In June, AT&T won a long-fought trial over ...

Lawmakers in the United Kingdom released a trove of Facebook Inc. documents that provide an intriguing glimpse inside the company — and obliterate any remaining notions of its chief executive officer as an innocent babe in the woods. As Nate Lanxon and Sarah Frier wrote, internal emails show Facebook wielding user data like a “commodity that could be harnessed in ...

Bloomberg US equities rallied with European stocks on optimism about the prospects for success in American-Chinese trade talks. Tech shares and automakers led the S&P 500 Index higher after China was said to move towards cutting tariffs on US-made cars. The Stoxx Europe 600 Index surged the most in eight months. The dollar was steady while Treasuries and core European ...

Bloomberg The UK has reached a crisis point and the pound is heading back towards its lowest levels since the Brexit vote, according to BlueBay Asset Management. A second Brexit referendum now seems the most likely outcome after Prime Minister Theresa May delayed Parliament’s vote on her divorce deal, according to the asset manager. The EU is unlikely to offer ...

Bloomberg Yuan traders haven’t been this dizzy since China’s shock devaluation roiled markets more than three years ago. The currency’s 10-day volatility surged above 8 percent on Monday, the highest level since August 2015. The wild trading contrasts with the calm that descended on Chinese financial assets less than weeks ago, before a meeting between Presidents Xi Jinping and Donald ...

Bloomberg The European Central Bank didn’t overstep its mandate by setting up a quantitative-easing program to stave off deflation, judges at the European Union’s top court ruled. The ECB’s bond purchasing program is in line with the law, the EU Court of Justice said, dismissing the latest in a series of challenges from critics who argue the tool deployed by ...

Bloomberg Morgan Stanley is optimistic on emerging-market bonds looking ahead to 2019. Some of its clients less so. “We’ve spent the last two weeks discussing our year-ahead outlook with investors. We received pushback on our constructive view on EM fixed income,” Morgan Stanley strategists including James Lord wrote in a note. “Chief among concerns is the global growth outlook and ...

Bloomberg Urjit Patel’s shock exit as governor of the Reserve Bank of India has roiled financial markets. The rupee dropped as much as 1.6 percent against the dollar in early trading on Tuesday, reacting to Patel’s decision to quit nine months before the end of his three-year term for “personal reasons.” Patel’s RBI had been at loggerheads with the government ...