From all the hysteria Down Under, you might think Australia is at risk of invasion — by Chinese cash. China’s economy certainly is increasingly influential, but the regulatory backlash from Canberra has all the makings of a self-inflicted wound. Australia has announced limitations on foreign purchases of power utilities and land. In case anyone missed the message, the man who ...

Donald Trump said he got a ‘great deal’ in renegotiating America’s bilateral trade agreement with South Korea. This is the first trade pact Trump has successfully revised, and it reflects the intellectual core of his America First approach to trade: The US can use its great economic and geopolitical leverage to drive harder bargains with weaker powers. That approach appears ...

In operation for more than 40 years, this outfit has grown to $106 billion in assets with investments in more than a dozen countries. Most of that is in China. Its returns probably wouldn’t have you celebrating — 12.8 percent last year on a return-on-equity basis, 4.6 percent if you’re looking at return on assets. But it has never posted ...

Ewald Nowotny, the governor of Austria’s central bank and a member of the Governing Council of the European Central Bank, said last week that “It’s no secret, we’re monitoring closely what the Fed did, and is doing.” Such sentiments are understandable, even desirable. After all, the Federal Reserve’s process of monetary policy normalization is unprecedented and, at least so far, ...

FRANKFURT / Reuters Christian Sewing must quickly come up with a coherent strategy for Deutsche Bank after the retail banking veteran was promoted to chief executive of Germany’s largest lender. Sewing, 47, was appointed after a crisis meeting to discuss how to end three years of losses. He replaces Briton John Cryan who failed to meet cost targets, and his ...

Bloomberg The Bank of England may have a quiet dissenter among its ranks when it comes to the need for higher interest rates this year. In speeches, interviews and Parliament testimony, eight of the nine Monetary Policy Committee members, including Governor Mark Carney, have backed the view that tightening is warranted — and at a faster pace than previously thought. ...

Bloomberg The board of India’s ICICI Bank Ltd., which less than two weeks earlier expressed full faith in Chief Executive Officer Chanda Kochhar, is divided over whether to ask her to step down as federal authorities investigate allegations of impropriety over loans made to Videocon group, people with knowledge of the matter said. At least some outside directors are opposed ...

NEW DELHI / Reuters A special court of India’s Central Bureau of Investigation (CBI) issued non-bailable warrants against two Indian jewellers who are central figures in an alleged $2 billion scam at state-run Punjab National Bank (PNB), according to a source within the investigative agency. The CBI, a federal police body, is now also questioning some officials at overseas branches ...

Reuters HSBC will seek to cut internal bureaucracy and expand investment in China’s southern region to the rest of the country, executives at the bank said on Monday, in the first hints of the strategy to be pursued by its new leadership duo. Mark Tucker, the bank’s first externally appointed chairman, told analysts and investors at a meeting in Hong ...

Bloomberg Uganda’s central bank maintained the benchmark interest rate at a record low as risks to the east African nation’s inflation outlook remain balanced. The key rate was kept at 9 percent, Governor Emmanuel Tumusiime-Mutebile told reporters on Monday in the capital, Kampala. Inflation slowed to 2 percent in March, the weakest level since 2014, and the risks to the ...