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Bloomberg Texas-educated businessman Laurentino Cortizo will almost certainly be Panama’s next president, after winning a contested vote count, the electoral authority said. Cortizo is the “virtual victor” of the election, after winning the preliminary vote count by a narrow margin, the authority said in a post on Twitter. The final official results are scheduled to be published on Thursday. Cortizo’s ...

Bloomberg Portuguese PM Antonio Costa prodded two opposition parties into supporting fiscal discipline, staking his claim as a champion of responsible budgets ahead of a national election on October 6. The maneuvering reduces the likelihood of political turmoil in a euro-area country that required a bailout in 2011 and gives additional signals about the terms on which parties will contest ...

If you read only one history of the global financial crisis and the turbulent decade that resulted, I recommend “Crashed: How a Decade of Financial Crises Changed the World,” by Columbia University historian Adam Tooze. Few authors are as capable of weaving together economics, policy and geopolitics into a coherent whole. Not only does Tooze cover every critical aspect of ...

South Korea doesn’t need another rescue from the International Monetary Fund (IMF), but it is stuck and does need a new model. News hasn’t been great lately for the nation, sandwiched between slower growth in China and Japan. Gross domestic product (GDP) shrank last quarter in what was probably a shock, not just to economists who anticipated a small increase, ...

China’s banks doled out a fifth more loans in the first quarter than a year earlier, so profit increases shouldn’t be surprising. What’s striking is just how small – and similar – those gains are. The Industrial & Commercial Bank of China Ltd., Bank of China Ltd., China Construction Bank Corp. and Bank of Communications Co. posted higher net income. ...

The way the cost of financial misconduct has been rising globally, a $158 million fine may seem like loose change. However, the Securities & Exchange Board of India has delivered much more than a slap of the wrist with its disgorgement order against the National Stock Exchange of India Ltd. over an algorithmic trading scandal. Including five years of interest ...

There’s a familiar refrain in Australia when public discussion turns to the country’s eye-wateringly expensive housing market: Foreigners are to blame. Public figures from former Prime Minister Tony Abbott to populist entrepreneur Dick Smith to far-right Senator Fraser Anning all agree that immigration is a key reason why the country’s homes are some of the world’s priciest. At the same ...

Warren Buffett has repeatedly said he was an “idiot” for not buying stock of Amazon.com Inc. when the company was younger and its share price was lower. Now comes news that his Berkshire Hathaway Inc. plopped some shares of the e-commerce giant in its shopping cart, at a time when Amazon is shedding some but not all of the characteristics ...

All it takes is a quick trip to Jakarta to realise that Uber Technologies Inc. missed out on the opportunity of a lifetime. Go-Jek Indonesia PT and GrabTaxi Holdings Pte, which started out as copycats of the US ride-hailing pioneer, have morphed into something far grander. Not only are their main car-hire businesses thriving, the companies have turned into super-apps ...

Bloomberg Equities slumped globally and Treasury futures climbed with other haven assets after President Donald Trump’s threat to increase tariffs on Chinese imports called into question the chances of a resolution to the trade war. The yen rose while crude oil slid. Futures on the S&P 500 index sank as much as 2.2 percent, signalling a punishing start to the ...