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It’s impossible to root for Facebook Inc. It’s like rooting for the New England Patriots. (Sorry, Pats fans.) Besides partisans and kooks, who could side with an organization that is successful beyond belief, skirts the rules and is led by an all-powerful boss facing serious legal questions? And unlike the sports team, Facebook wields enormous influence over how the world ...

Bloomberg US equity futures slumped and stocks declined across Europe and Asia as investors prepared for the next phase of the escalating trade war between America and China. The yuan tumbled, while Treasuries rallied. Contracts on the S&P 500, Dow Jones Industrial Average and Nasdaq 100 indexes all slid, pointing to a big drop at the US open, as President ...

Bloomberg India stocks plunged in a last-hour selloff as investors weighed positions ahead of the national election results due next week and as escalation in the trade war between the US and China remained an overhang on the region’s risk assets. The S&P BSE Sensex dropped 1 percent, after fluctuating between gains and losses for most of the session. The ...

Bloomberg Federal Reserve officials are speaking out about rising inequality and the harm it does the US economy, but most still hesitate to say monetary policy can do much to help. Neel Kashkari is starting to sound like an exception. Since becoming president of the Minneapolis Fed in 2016, he’s been a consistent dove, arguing for keeping interest rates lower ...

Bloomberg Germany’s latest banking upstart has a message for the millennials it’s trying to lure away from giants like Deutsche Bank AG: We’re one of the good guys. Hamburg-based Tomorrow, which offers free current accounts via mobile phones, promises to use customer deposits to finance only sustainable projects such as renewable energy and organic agriculture. The company claims that its ...

Bloomberg As banks around the world shut branches and lay off tellers, Pakistan’s Faysal Bank is headed in the opposite direction in the hope that a drive into Islamic financial services will boost deposits and shareholder returns. The Karachi-based lender plans to open 200 new branches offering Shariah-compliant deposit accounts in the next two years, and convert 40 regular branches ...

Bloomberg Shares in Metro Bank Plc fell more than 9% to a fresh record low despite the British lender’s assurances that its 350 million-pound ($455 million) share sale to repair its finances was well advanced. Metro has started “final discussions with existing shareholders and new investors, and the feedback continues to be positive,” the firm said in a statement, confirming ...

Bloomberg To help pull off the biggest media deal of the year, JPMorgan Chase & Co. embraced a Wall Street practice that fell out of favor after the financial crisis. The largest US bank agreed to take a $1 billion equity stake using its own money. The check helped Sinclair Broadcast Group Inc. amass the cash it needed for a ...

Bloomberg As Boeing Co’s 737 Max was about to enter service in 2017 it became the subject of an unusual diplomatic exchange. Chinese officials, eager to enter the global aircraft manufacturing market dominated by Boeing and Europe’s Airbus SE, raised the prospect with their US counterparts of clearing Boeing’s aircraft for use in China in exchange for favourable treatment of ...

Bloomberg Consumer goods giant Unilever is considering a $1 billion offer for US skin-care brand Drunk Elephant, the Sunday Telegraph reported, without saying where it got the information. Drunk Elephant, founded in 2012 by Texan mother-of-four Tiffany Masterson and which makes skin-care products with natural, nontoxic ingredients, hired investment banks in January to explore a sale, according to the Wall ...