As UK Prime Minister Theresa May starts the clock on Britain’s departure from the European Union, there’s no real question that the divorce is going to hurt both parties — and the UK, to be sure, much more than the EU. But this isn’t to say there’s no upside. The right kind of deal will recognize these opportunities and ...

  China’s banks are turning the corner — or are they? A surprise increase in full-year profit at Agricultural Bank of China Ltd. and better-than-estimated 2016 earnings at Bank of Communications Co., or Bocom, are reinforcing the view that lenders in the People’s Republic are getting a grip on their multiyear bad-loan problem. And with short-term interest rates starting to ...

  New protests in Russia highlight a fundamental flaw in the regime of President Vladimir Putin: His grip on power relies far too much on the very corruption that is increasingly trying Russians’ patience. If he doesn’t find a way to address their grievances, it won’t end well for him or the country. Tens of thousands of demonstrators took to ...

  The United Kingdom on Wednesday started the clock on two years of negotiations to withdraw from the European Union. Britain’s top envoy to European Union Tim Barrow hand-delivered a letter to European Council President Donald Tusk, triggering final split. Tusk has said that he would respond with a draft negotiating guidelines within 48 hours. Leaders of remaining 27 nations ...

  Discussions about manufacturing tend to get very contentious. Many economists and commentators believe that there’s nothing inherently special about making things and that efforts to restore US manufacturing to its former glory reek of industrial policy, protectionism, mercantilism and antiquated thinking. But in their eagerness to guard against the return of these ideas, manufacturing’s detractors often overstate their case. ...

  With a promise to fly US passengers to Europe for as little as $65, Norwegian Air Shuttle ASA is poised to transform transatlantic travel. While terrific news for consumers, its low-cost long-haul strategy might be a little more turbulent for shareholders and lenders. Having built Norwegian from a handful of aircraft into Europe’s third-largest budget carrier, founder and CEO ...

  China appears to be thriving in the age of Trump. Faced with a protectionist U.S. administration in Washington, Communist Party leaders have improbably recast themselves as champions of globalization, free trade and openness. Recently, they’ve admonished Western policymakers to treat Chinese investors more graciously before expecting China to open its own markets further. Greater liberalization, central bank chief Zhou ...

  BUENOS AIRES / AP Let’s start at the end, with dessert at The Argentine Experience. The Buenos Aires restaurant that immerses diners in culture offers an abundance of tastes and the stories behind them. On the night my family shared a communal table with another group of US visitors, dessert included a delicacy prepared with sponge-like yacaratia wood. Alex Pels, ...

  Dubai / Reuters Saudi Aramco is paying a significant premium to the government and to its previous borrowing in its first sale of Islamic bonds, reflecting uncertainty over oil prices and an upcoming sale of the state-owned oil giant’s shares. Aramco is offering 7-year, riyal-denominated sukuk at 25 basis points (bps) over the six-month Saudi Arabian Interbank Offered Rate ...

  Bloomberg The closure of one of Australia’s biggest power plants may spark a new bout of electricity price volatility, potentially worsening the country’s energy crisis. The final two units of the 1,600-megawatt coal-fired Hazelwood plant in the state of Victoria will be shut Wednesday by owners Engie SA and Mitsui & Co. After operating for 50 years, the closure ...