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At the start of every year, the Congressional Budget Office (CBO) publishes its annual “The Budget and Economic Outlook,” a tome full of statistics, tables and charts. Frankly, it’s easy to get swamped by the numbers. To make sense of the report, I’ve selected five takeaways that capture the main points. (1) The US economy is in the midst of ...

All Caterpillar Inc. said was that demand in China would be flat this year. That only scrapes the surface. The US industrial bellwether blamed China for the 4 percent slide in its Asia-Pacific sales for the fourth quarter. The mainland market constitutes 10 percent to 15 percent of the company’s construction-segment sales and 5 percent to 10 percent of the ...

On January 29, the UK sent a resounding message to the European Union: “We demand that you give us what we want.” Don’t expect the audience to be receptive. Parliament was considering changes to Prime Minister Theresa May’s Brexit deal, which it rejected by a spectacular margin two weeks ago. One measure that carried the day, and which May supported, ...

Policy decisions about climate change are among the toughest a government can make: Any change in direction is practically guaranteed to displease the stakeholders. A commission set up by the German government to work out how the country will phase out coal called for ending the fuel’s use by 2038. Energy companies, labor unions and environmentalists are all unhappy. The ...

Foreign firms eager for a $119 billion slice of China’s insurance market might just want to give Anbang Insurance Group Co.’s assets a closer look. You’d be forgiven for wanting to steer clear of a firm that’s become the face of China’s toxic debt binge. But the timing could be right: It’s been almost a year since Beijing seized temporary ...

Like Nadia Comaneci at the 1976 Olympics, Mario Draghi might have hoped for a perfect 10 from anyone judging his performance as president of the European Central Bank. But an incipient slowdown in the euro zone risks spoiling his routine just months before he bows out. The ECB’s decision to end its net asset purchases at the end of 2018 ...

Bloomberg Apple Inc. plans to launch iPhones with a more-powerful 3-D camera as soon as next year, stepping up the company’s push into augmented reality, according to people familiar with the plans. The rear-facing, longer-range 3-D camera is designed to scan the environment to create three-dimensional reconstructions of the real world. It will work up to about 15 feet from ...

Bloomberg Nokia Oyj forecast a stagnant market for phone equipment this year, sending shares down the most in six months as investors looking for signs it could benefit from a crackdown on Chinese rival Huawei Technologies Co. were disappointed. Nokia also projected weaker-than-expected 2019 earnings as carriers delay buying the 5G systems that are key to its growth, including in ...

Bloomberg Microsoft Corp.’s search engine Bing was blocked in China due to an accidental technical error rather than an attempt at censorship, according to people familiar with the matter, and the search engine is once again accessible in the country. The government had no intention to block Bing when it stopped working. Microsoft said in a statement that Bing’s service ...

Bloomberg Adyen NV says it saves merchants millions of dollars by streamlining card-payment transactions. The fintech firm, thousands of miles from Silicon Valley, is making its founders a lot more. Chief Executive Officer Pieter van der Does, Chief Technology Officer Arnout Schuijff and former innovation director John Caspers have all become billionaires since Adyen’s June initial public offering, according to ...