It’s time the world’s largest pension fund boosted its risk appetite again. Japan’s Government Pension Investment Fund (GPIF) has been fleeing local government bonds ever since it doubled its allocation targets for domestic and overseas stocks in late 2014. It’s likely to have already exceeded that quota due to the global equities bull run. As of September 30, the latest data ...

In the space of a few hours on Tuesday, what had been increasingly obvious became all but official: The US is no longer leading the world economy. The US withdrawal is signaled by the Trump administration’s announcement of new tariffs on solar panels and washing machines. Dispiriting as this choice may be — not to mention bad for US workers ...

If there’s one policy that can unite socialists and Silicon Valley libertarians, it’s universal basic income (UBI) — a regular payment from the government to each and every adult, regardless of income. Many socialists like the unconditional nature of the programme — like Social Security, it has the potential to avoid arousing the anger of higher-earning people who feel they’re ...

Netflix Inc. is the Uber of the entertainment programming business. Whether Netflix investors recoil or cheer at the comparison depends on their risk tolerance. Netflix doesn’t share Uber’s inclination to push boundaries, and it has a well-functioning business. But both companies are impressive growth machines that rely on outside funding to maintain the momentum. And in both cases, it’s not ...

Few countries attract as much disdain from economists as Germany. Berlin is accused of running an excessively prudent budget and German companies of paying their workers too little: This stinginess — so the accusation goes — has contributed to global instability by making it harder for Germany’s euro-zone partners to climb their way out of the crisis. The criticisms, which ...

Bloomberg There’s one question European Central Bank President Mario Draghi won’t be able to ignore at his first policy meeting of the year: whether the euro is too strong for the currency bloc’s health. In the six weeks since the previous decision, the single currency for 19 European nations has surged to the highest level against the dollar in more ...

Bloomberg UBS Group AG Chairman Axel Weber said the Swiss bank won’t trade Bitcoin or offer it to retail clients as increased regulation could lead to a “massive” drop in value. “This is something where the price is really unclear,” Weber said in an interview on Wednesday with Bloomberg TV at the World Economic Forum in Davos, Switzerland. “We fear ...

Bloomberg State Bank of India and Punjab National Bank will be among lenders that receive 881 billion rupees ($14 billion) of fresh capital the government had pledged for state-run banks in the year through March 31. SBI, the nation’s biggest lender by assets, will get 88 billion rupees while Punjab National Bank will take 55 billion rupees, Rajiv Kumar, banking ...

Bloomberg The Bank of Japan will continue with its unprecedented monetary easing policy for a “couple more years” and it will remain tough for lenders to make money from doling out credit, according to the top executive at Mizuho Financial Group Inc. “Just simple lending business is not so profitable, and this situation will last,” Chief Executive Officer Yasuhiro Sato ...

Bloomberg Strains are spreading in China’s $15 trillion shadow banking industry as investors pull back from the debt-like savings products that helped drive leverage to dangerous levels. Most affected are some $3.8 trillion of so-called trust products, until now the fastest-growing shadow banking segment and a popular way for debt-ridden property developers and local governments to raise funds from millions ...