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My colleague Conor Sen made a bold prediction: Government will be the driver of the US economy in coming decades. The era of Silicon Valley will end, supplanted by the imperatives of fighting climate change and competing with China. This would be a momentous change. The biggest tech companies — Amazon.com, Apple Inc., Facebook Inc., Google (Alphabet Inc.) and (a ...

Bloomberg US equities gained at the start of a week filled with potentially significant catalysts from central bank meetings, geopolitical developments and economic data. Treasuries and the dollar drifted lower. The S&P 500 opened slightly higher, led by financials and energy shares, while chipmakers helped propel an advance in the Nasdaq 100. The Dow Jones Industrial Average fought to hold ...

Bloomberg Foreign investors increased purchases of Saudi equities last week to the highest value on record as they positioned for the kingdom’s inclusion in major benchmarks. Foreigners were net buyers of about 1.6 billion riyals of stocks in five days through March 14, more than any other week since the data were first disclosed in 2015. The inflows picked up ...

Bloomberg India thinks its stocks aren’t fairly represented in several MSCI gauges that are closely tracked by investors around the world. The nation is seeking a review, The Economic Times reported on Monday. A team led by Prime Minister Narendra Modi’s principal economic adviser Sanjeev Sanyal is in discussions with MSCI Inc. since February to push for higher benchmark weighting ...

Bloomberg UBS Group AG thought it had seen the worst of its French tax scandal when the lender was slapped with a record $5 billion penalty in Paris last month. A looming Swiss Supreme Court ruling could add to its woes. The court will decide in the coming weeks on whether a lower administrative court was right to rule UBS ...

Bloomberg Deutsche Bank AG’s DWS Group soared the most ever in Frankfurt trading on news that Allianz SE is exploring the possibility of combining it with its asset management arm to create a national champion in active money management. The Munich-based insurer is looking at the feasibility of a deal with Germany’s largest lender to create a business with 1.17 ...

Bloomberg The European Central Bank says its bond-buying program was $3 trillion well spent. It said the measure helped to ease financing conditions in the euro area and contributed to achieving its price-stability mandate — even as the point when the institution will meet its inflation goal edges farther into the future. Asset purchases of some 2.6 trillion euros ($3 ...

Bloomberg As one avenue for money launderers is shut, another one may be opening. In Denmark, home to Danske Bank A/S, the authorities are now taking a closer look at companies that provide payment services. The worry is that the chain of processes behind each payment is becoming so complex that criminals might be able to hide their illicit transactions. ...

Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda said he’s still seeking to deliver 2 percent inflation after the government voiced support for a more flexible approach to the goal, which hasn’t been hit in a decade. Japan must reach 2 percent to achieve a self-sustaining cycle of economic growth, where higher corporate profits and wages fuel consumption and investment, ...

Bloomberg FAA employees warned as early as seven years ago that Boeing Co. had too much sway over safety approvals of new aircraft, prompting an investigation by Department of Transportation auditors who confirmed the agency hadn’t done enough to “hold Boeing accountable.” The 2012 investigation also found that discord over Boeing’s treatment had created a “negative work environment” among Federal ...