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The internet was supposed to render geography irrelevant. But the corporations that dominate the internet have turned out to be remarkably concentrated, geographically speaking. In internet publishing and web search portals, a somewhat ungainly but very important North American Industry Classification System category, 58 percent of all US jobs in December could be found in just five counties, and more ...

So much for deleveraging. China’s biggest shadow lenders are back. On the surface, it may look like regulators have managed to shrink the role of trust companies, after a wide-ranging, mo-nths-long crackdown on China’s financial underbelly. Assets und-er management at these lightly regulated non-bank financial firms – a hybrid of private equity, asset management and lending – posted their first ...

Rare is the week that doesn’t bring some new controversy over someone or something being banned from Twitter or Facebook for being too offensive. As regular readers know, I prefer more speech to less speech, but this column isn’t about what content rules private companies should enforce. Today I’m wearing my fair-process hat. These mighty controversies over kicking users off ...

Bloomberg US stocks rallied to all-time highs after a trade truce with China, though gains eased after measures of manufacturing activity showed growth slowing in the world’s largest economy. Gold, the yen and Treasuries all retreated. The S&P 500 surpassed its intraday record, with chipmakers surging after President Donald Trump agreed to ease a ban on American companies supplying Chinese ...

Bloomberg Germany’s DAX Index is starting the second half of the year with a bang as the benchmark is set to enter a bull market. The gauge rose as much as 1.8 percent in the first hour of trading on Monday, bringing the total gain to 22 percent since a closing low on December 27. The guage is up 1.5 ...

Bloomberg The dollar fell against the yuan and commodity-related currencies in Asia-Pacific trading on Monday after the US and China backed down from threats to escalate their trade war. Haven currencies weakened. The yen and Swiss franc, which tend to act as refuges in times of market distress, declined against the greenback, while the Australian dollar — a proxy for ...

Bloomberg Christian Sewing is preparing to undo over a decade of failed expansion at Deutsche Bank AG. The chief executive officer may slash headcount by more than a fifth — as many as 20,000 positions — in what’s shaping up to be the troubled lender’s biggest makeover in years, two people familiar with the matter said. Some of the heaviest ...

Bloomberg Singapore will issue as many as five new digital bank licenses to non-bank firms as the island nation seeks to strengthen competition in financial services, according to one of its top regulators. “We welcome firms with innovative value propositions to apply for the new digital bank licenses, even if they have not yet established a track record in banking,” ...

Bloomberg Riksbank Governor Stefan Ingves, who has likened the world’s major central banks to elephants, is likely to ignore the growing momentum for easing emanating from Frankfurt and Washington, for now. Ingves and his colleagues in Stockholm are seen keeping their benchmark rate unchanged at minus 0.25 percent as they meet this week. It’s a close call whether they will ...

Bloomberg Beset by years of a lackluster results, Nordea Bank Abp is switching out its chief executive officer to find new momentum in its search of top-line growth. The biggest Nordic bank announced that Casper von Koskull, 58, will retire by the end of next year, and could step aside even sooner as the search for a successor has started. ...