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As the current presidential election campaign gathers momentum in the United States, a remarkable distrust of free trade and globalization appears to have gained a voice in mainstream politics. Distrust and anger at unbalanced trade has facilitated the rise of Donald Trump, the Republican Party front-runner, and helped Bernie Sanders in his bid to win the Democratic Party nomination. Opposition ...

The Competitive Enterprise Institute is getting subpoenaed by the attorney general of the U.S. Virgin Islands to cough up its communications regarding climate change. The scope of the subpoena is quite broad, covering the period from 1997 to 2007, and includes, according to CEI, “a decade’s worth of communications, emails, statements, drafts, and other documents regarding CEI’s work on climate ...

Lisbon / Bloomberg European Central Bank (ECB) officials underlined their readiness to further ease monetary policy as banking, political and sovereign fault lines showed the region remains vulnerable six years after the start of the debt crisis. In Frankfurt, the ECB’s home city, and Brussels, Europe’s nominal capital, policy makers said they’ll take whatever measures are required to help the ...

Beijing / Bloomberg The People’s Bank of China (PBOC) should gradually adjust the amount of deposits that lenders lock away as reserves in accordance with the nation’s international balance of payments situation, according to economists at the central bank. The required reserve ratios (RRR) for commercial lenders should be raised or lowered to meet the country’s macroeconomic demands, researchers led ...

Cernobbio / Reuters The chairman of France’s second-biggest retail bank is more worried about Europe’s banking sector now, in some ways, than when he took the reins at BPCE bank during the depths of the global financial crisis in 2009. Francois Perol said on the sidelines of an economic conference in Italy that negative interest rates in the euro zone ...

Bloomberg Sam Woods, a former UK Treasury official, was appointed as Deputy Governor for regulation at the Bank of England (BOE), replacing Andrew Bailey. Woods — who will continue as the central bank’s executive director of insurance until the end of June — becomes Chief Executive of the Prudential Regulation Authority, the UK’s main banking supervisor, the Treasury in London ...

Bloomberg Negative interest rates, one of the latest central bank experiments to goad economies back into growth, got low marks at a financial and economic conference along Lake Como. Richard Koo, the chief economist at Nomura Research Institute, said such rates were “intellectually bankrupt.” Olivier Blanchard, the former chief economist at the International Monetary Fund in Washington, said they interfere ...

Reuters Higher sales helped Saudi Arabia’s Almarai to post a marginal rise in first-quarter net profit on Sunday, though the Gulf’s largest dairy company warned of challenging market conditions in the face of the region’s economic slowdown. Saudi companies are grappling with a protracted slump in oil prices that is putting government and consumer spending under pressure. One indicator of ...

Bloomberg India is considering restricting the number of flights that can take off or land at airports to cut noise pollution, in line with several European and American nations, a senior official at India’s aviation regulator said. The environment ministry is working with the Directorate General of Civil Aviation, the regulator, to formulate guidelines on the maximum noise levels to ...

Managua / AFP Nicaragua is to start a new national airline and expand its international airport under a deal with Russia involving Russian aircraft and a loan of up to $300 million, state media reported. Government officials did not immediately respond to queries seeking to verify the information. According to a report by the online news website 19 Digital, a ...