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Britain’s Prime Minister, Theresa May, is no longer in control of events. The Brexit withdrawal agreement she’s currently defending in Parliament has, with reason, been savaged by all sides and seems likely to be rejected in the vote planned for next week. Already, thoughts are turning to Plan B. The best course is evident: a second referendum, one that would ...

Larry Kudlow, one of President Donald Trump’s top economic advisers, recently said that the administration would end subsidies for electric cars and other renewable-energy technologies. Under the existing program, buyers of electric vehicles get a federal tax credit of $2,500 to $7,500. It’s unlikely that Trump can eliminate the program without an act of Congress, which seems unlikely given that ...

Clutch your pearls. Prepare the fainting couches. Are you ready for this bombshell? Apple Inc. actually has to try to sell its phones. How embarrassing. Bloomberg News had a look inside the Apple empire, which has shifted some staff members to work on marketing the latest iPhone models released this fall, and the company or its partners are deploying incentives ...

Singapore is getting ready for polls. Because a single party has ruled uninterrupted since 1959, the real importance of the next election lies in the rare leadership transition that will take place afterwards. Finance Minister Heng Swee Keat’s well-choreographed elevation as the city-state’s fourth prime minister is expected to signal policy continuity, though immigration is one area where the status ...

Bloomberg After the longest advance in Treasuries since April, bond traders banking on even lower yields have some hurdles to clear as the market prepares to absorb $78 billion in new coupon-bearing debt and some key readings on the economy. A five-week rally has brought benchmark 10-year yields to the brink of the lowest levels in the past six months, ...

Bloomberg Cryptocurrencies continued their epic slide with a fresh bout of losses after the SEC dashed hopes that a Bitcoin exchange-traded fund would appear before the end of this year. Bitcoin, the largest digital token, slumped as much as 10 percent, taking it down past $3,250 to the lowest level since September 2017, according to consolidated pricing compiled by Bloomberg. ...

Bloomberg Federal Reserve Governor Lael Brainard said US economic momentum is strong and a gradual approach to interest-rate increases remains appropriate for now. “The gradual path of increases in the federal funds rate has served us well by giving us time to assess the effects of policy as we have proceeded,’’ Brainard said at a conference at the Peterson Institute ...

Bloomberg German Chancellor Angela Merkel’s ruling party wouldn’t back the government taking a stake in Deutsche Bank AG to strengthen the nation’s financial industry, senior members said. “The argument for a ‘big bank’ can be discussed as a matter of economic policy, but it doesn’t justify the use of taxpayers’ money,” Michael Meister, a member of the Christian Democratic Union’s ...

Bloomberg Danske Bank A/S shareholders, who’ve lost more than 40 percent on their investment this year, are looking to a brighter future after the lender took another step to purge its leadership. Denmark’s largest bank replaced its chairman, following October’s ouster of its chief executive officer, as it seeks to atone for its role in one of Europe’s biggest money ...

Bloomberg Citigroup Inc said it probably won’t meet a closely watched profitability target this year because market volatility crimped fourth-quarter trading revenue. Chief Financial Officer John Gerspach said sluggishness in its Group of 10 rates-trading business likely means the bank will post a drop in fixed-income trading revenue for the final three months of the year. The investment-banking franchise also ...