Bloomberg The party of ousted Malaysian PM Najib Razak has chosen his ex-deputy, Ahmad Zahid Hamidi, as its new president to lead reform after a shock election loss in May ended its six-decade rule. Zahid won with at least 78 votes in the first open contest for the presidency of United Malays National Organisation, Secretary-General Tengku Adnan Tengku Mansor told ...

Bloomberg German Chancellor Angela Merkel is about to find out whether party rebels against her migration policy are ready to back off or will push ahead with a political crisis that could deprive her of a parliamentary majority. After weeks of tension stoked by a Bavarian regional party that’s threatening to send back more asylum seekers at the border, its ...

Bloomberg President Donald Trump spent June 30 engaged in a deep dive into the backgrounds of the top prospects to fill an opening on the US Supreme Court but hasn’t begun interviews with the finalists. Trump is at his Bedminster, New Jersey, private golf club. He’s been studying the rulings, judicial philosophies and temperaments of his short list, said an ...

Bloomberg UK Prime Minister Theresa May is under mounting pressure as she prepares for a crunch meeting this week aimed at ending the war inside her cabinet over Brexit. May, facing criticism from both the pro- and anti-Brexit wings of her ruling Conservative party, is planning talks with ministers at her countryside retreat on July 6 to thrash out an ...

Virtually all economists favour free trade. But we differ as to what the costs of trade restrictions might be. The decision of Harley-Davidson Inc. to shift more production overseas to Europe to avoid the impact of new tariffs presents a good opportunity to assess those costs – and the good news is that, so far, the economic costs of a ...

The sun is setting on the second quarter, and not a moment too soon for Deutsche Bank AG. In 90 days, the German lender has replaced its CEO, promised thousands of job cuts, seen its credit rating downgraded, and watched its share price plumb new depths. Flunking the US Federal Reserve’s stress tests was a final humiliation, albeit an expected ...

The US Department of Agriculture has come up with cheerful new labels for genetically modified foods (GMOs). The bright green and yellow circles depict a happy sun, a winking smiley face or a verdant landscape stamped with the letters “BE,” for “bioengineered” — rather than the familiar “genetically modified” or “genetically engineered.” It’s a shame the government is unwilling to ...

Brexit worries may be damping sentiment in Europe but in Asia, real-estate investors don’t appear too concerned. While Chinese purchasers of London property have put away their wallets as capital controls bite, buyers from Hong Kong, Singapore and South Korea are picking up the slack. Victor Li, who succeeded his billionaire father Li Ka-shing as head of the CK group ...

It’s becoming standard practice for US tech giants to follow the letter of European rulings and regulations without really changing their behaviour. Most recently, Facebook and Google have exhibited just a superficial compliance with the EU’s General Data Protection Regulation, which requires companies to allow users to keep control of their data. The government-funded Norwegian Consumer Council issued a report ...

A sort of “cryptobrawl” broke out last month at the Milken Institute Global Conference between economist Nouriel Roubini and panel participants more optimistic about the future of cryptocurrency technologies. I had the opportunity to participate in a partial rematch at Battle of the Quants, where Roubini was just as negative and DMS Governance’s John D’Agostino presented a moderate defense. All ...