The US economy will grow a bit faster than China. Huh? That’s not a typo. It’s one of the projections in a fascinating OECD paper sketching scenarios for the world through 2060. Other developments canvassed: China’s share of global output peaks in the 2030s and then declines while India’s slice keeps rising. Indonesia’s economy catches up to its population. The ...

The fog surrounding Britain’s decision to leave the European Union shows no sign yet of clearing. The UK exits the union next March — but, more than two years after the country voted to go, the terms of its separation and the form of the future relationship are entirely unresolved. This continuing uncertainty is a huge cost in its own ...

Emerging-market stresses have been building since at least 2013. Investors may have forgotten the effect of the ‘taper tantrum’ on the so-called Fragile Five – Brazil, India, Indonesia, Turkey and South Africa – a term coined by Morgan Stanley to describe their vulnerability to capital outflows. Monetary accommodation, lower current-account deficits and growth disguised the underlying challenges, attracting more capital ...

Unlike their American peers’ unceasing love for gas guzzlers, Chinese consumers are getting over them. The country’s carmakers should recalibrate. Auto stocks have been the worst-performing sector in China as sales slide and foreign carmakers stake claims to a bigger share of the world’s largest market. Earnings last week didn’t give investors too much to bet on. Sales of Chinese ...

When they’re asked to make bets, social scientists have a surprising knack for predicting which of their colleagues’ papers are full of baloney. This is in contrast to the notoriously bad job social scientists have apparently been doing evaluating papers through traditional peer review. In a series of attempts to test the health of the field, a high proportion of ...

Bloomberg Indonesia’s central bank is intensifying its fight to protect the nation’s currency and bonds with a slew of measures that includes more hedging tools. Bank Indonesia plans to soon introduce overnight index swaps and interest-rate swaps to widen its pool of hedging tools for investors, exporters and banks. The central bank will also start offering a one-month tenor foreign-exchange ...

Bloomberg Australia kept interest rates at a record low on Tuesday, as it has for the past two years, while a currency sliding towards 70 US cents offers the prospect of additional stimulus for the economy. As expected, Reserve Bank Governor Philip Lowe left the cash rate at 1.5 percent, a stance he expects will eventually tighten the labour market ...

Bloomberg ING Groep NV agreed to pay 775 million euros ($900 million) to settle an investigation by the Dutch prosecutor into issues including money laundering and corrupt practices in one of the biggest fines ever given to the country’s banks in a criminal case. The lender acknowledged “serious shortcomings” in executing customer due diligence policies to prevent financial crime at ...

Bloomberg Lloyds Banking Group Plc is planning to reorganise its commercial bank and eliminate some senior management positions to cut costs at one of its biggest divisions, people with knowledge of the company’s plans said. David Oldfield, a veteran at the bank and head of the commercial unit since last year, is leading the push to simplify the structure and ...

Bloomberg The chief executive officer of Banco de Sabadell SA’s British unit is leaving as the lender continues to struggle with the meltdown of its IT system earlier this year. Paul Pester will step down after seven years with the UK arm, known as TSB Banking Group. Richard Meddings, the current non-executive chairman of TSB, temporarily takes on an executive ...