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Having reportedly agreed on a short list of candidates to replace Christine Lagarde as managing director of International Monetary Fund, European governments are set to announce their nominee by the end of this week. What they should be doing instead is support merit-based nomination of candidates from both inside and outside Europe, as well as a better due diligence process. ...

The slowdown that began among India’s shadow banks is spreading. Sectors that had come to depend on credit from what in India are called non-banking financial companies (NBFCs) are posting awful numbers. Insurance is slowing and real estate is troubled. The automobile sector — which contributes half of India’s manufacturing output — is shrinking as stressed shadow banks prioritise survival ...

Twenty-five years ago, as a young physicist, I worked on research linked to fusion energy. Nuclear fusion powers sun and stars through reactions that turn hydrogen nuclei into helium nuclei, and if we could master the process on Earth, we’d have a safe and virtually limitless source of clean energy. At conferences every year, scientists from around the world gathered ...

Bloomberg US stocks edged higher as strong earnings and a continuation of trade talks helped ease investor concerns. Treasuries rose ahead of the Federal Reserve’s rate decision. The S&P 500 advanced for the first time in three days, fuelled in large part by Apple Inc after the company lifted its forecast. Sentiment also got a boost after US and Chinese ...

Bloomberg Key Indian equities indexes capped their worst decline for the month of July in 17 years, even as shares eked out gains on Wednesday. The benchmark S&P BSE Sensex climbed 0.2 percent to 37,481.12 in Mumbai, easing its decline this month to 4.9 percent. The NSE Nifty 50 Index gained 0.3 percent to 11,118.00 and is down 5.7 percent ...

Bloomberg Traders at Credit Suisse Group AG and BNP Paribas SA broke some of the gloom in European banking, beating most of their Wall Street peers in the second quarter of 2019. The results represent a rare bright spot for institutions contending with a deteriorating economy and huge job cuts, including the 18,000 positions that Deutsche Bank AG expe-cts to ...

Bloomberg The Federal Reserve’s uni-que structure helps preserve monetary policy independence, according to a new academic study that comes at a time of heightened tensions between the White House and the central bank. Cleveland Fed economist Edward Prescott and Rutgers University economics professor Michael Bordo argue the Fed’s deliberately decentralised design — with 12 regional banks around the country augmenting ...

Bloomberg When Nicko Widjaja was hired to run the venture capital arm of Indonesia’s biggest telecommunication services provider in 2015, corporate venture capital investing had a reputation for being slow, bureaucratic and generating lackluster returns. But in four years, he has made it work. The first venture fund of state-owned PT Telekomunikasi Indonesia, called MDI Ventures, has returned 40 percent ...

Bloomberg While corporate America’s profit engine is about to cool, Goldman Sachs Group Inc. says a Federal Reserve interest-rate cut will continue to boost stock prices this year. The bank cut 2019 earnings estimates for the S&P 500 Index to $167 a share from $173, citing an economic slowdown, lower oil prices and weak margins, according to a note from ...

Bloomberg Bank of America Corp. (BofA) said it will end a payments joint venture with First Data Corp. next June when a contract between the two firms expires. The firms will continue to provide delivery of products and services for existing clients through at least June 2023, but will otherwise pursue in-dependent merchant-services strategies next year, Bank of America said in ...