Gloom is dissipating for emerging markets, and they can thank American influence. There’s a lesson there, and a payoff. With the Federal Reserve approaching a pause in its interest-rate increases, pressure on nations like Indonesia will lighten significantly. No longer will they have to hike interest rates to buttress local currencies; they may conceivably get scope to cut. That’s a ...

When European Union (EU) leaders met in Brussels on Sunday to finalise the Brexit divorce agreement, they made one thing clear: There is no Plan B. But some Conservative lawmakers, skeptical the deal will get through parliament, are working hard on, yes, Plan B. Their basic idea – the Norway option – isn’t new. Sometimes that rumpled piece of paper ...

Bitcoin is in crisis. You can never really declare it dead — the idea of an electronic currency that is theoretically borderless and lawless will always live on somewhere — but its price has slumped 80 percent in less than a year, wiping about $700 billion off cryptocurrency markets. Where does it go from here? True believers are betting on ...

There’s a general feeling of optimism about Africa these days. And the good news, which runs deeper than rapidly improving health and quality-of-life indicators, deserves a closer look. Perhaps most significant, a relatively high proportion of sub-Saharan Africa is at peace today. It is more stable and less prone to conflict, relative to previous decades. Violence in the Congo region ...

Bloomberg Banks from Greece to Italy that are struggling to get rid of a mountain of bad loans may soon get some help from European Union lawmakers. A bill that’s nearing the finish line in Brussels would soften the capital hit banks usually face when they sell non-performing loans at a loss. That could give a boost to Italian lenders, ...

Bloomberg UniCredit SpA paid a high price to close a $3 billion bond sale in a stressed market and the big winner looks to be Pacific Investment Management Co. Pimco was the sole buyer of the bank’s surprise sale of five-year bonds, two people with knowledge of the transaction said, asking not to be identified because the matter is private. ...

Bloomberg Indian lender Yes Bank Ltd tumbled by a record in the dollar bond market and suffered another share price plunge after Moody’s Investors Service cut its credit rating to junk, making the lender a so-called fallen angel. Losing an investment-grade score is rare among Indian private-sector banks. The lender is now the only junk-rated one among four such lenders ...

Bloomberg Puerto Rico is poised to restructure the Government Development Bank’s debt by exchanging its bonds for $2.6 billion of new securities, the first such debt swap for the US territory since it collapsed into bankruptcy in May 2017. The transaction will restructure about $4 billion of Government Development Bank debt. Under a previously arra-nged agreement, investors will exchange their ...

Bloomberg Deutsche Bank AG’s management changes have yet to run their course. Germany’s largest lender is replacing senior executives in the US and is considering changing staff who tend its relationships with regulators, according to a person with knowledge of the matter. The moves come on the heels of strong cuts to the US operations and after authorities in the ...

Bloomberg After two years of insisting that Brexit has had no impact on flight bookings, UK airlines are starting to see the first evidence to suggest sales are taking a hit. Virgin Atlantic Airways Ltd. and discount operator Jet2 have said demand is being depressed by the weaker pound, a trend that could deepen as UK political opposition threatens to ...