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In an op-ed published by the Wall Street Journal, Alibaba Group Holding Ltd. Chairman Jack Ma made the case against escalating trade tensions between the world’s two most powerful economies. “Both Sides Would Lose a US-China Trade War,” was the headline. It’s the same argument I made a month ago, and I wasn’t the first because, frankly, it’s kind of ...

As lawmakers grill Facebook CEO Mark Zuckerberg, it’s clear many are wrestling with whether and how the government should regulate tech companies. A recurring question is whether they have any inherent ideological biases. In his testimony to the Senate, Zuckerberg called Silicon Valley “an extremely left-leaning place.” While voter patterns at the regional level and likely the employee level at ...

Bloomberg Canadian banks have amassed their biggest war chest in five years — and they’re ready to use it. The country’s six largest lenders are approaching their strongest capital position since 2013, leaving them with enough resources to pursue acquisitions, buy back shares or build from within. That has the chiefs of Canada’s big banks weighing options. “It’s great to ...

TOKYO / Reuters The Bank of Japan mostly held an optimistic view on regional economies, in a sign of its conviction over a broadening recovery but warned that labour shortages and a US-China trade war could cloud the outlook. The central bank’s assessment in a report suggests it will probably maintain its upbeat growth and price forecasts when it conducts ...

WASHINGTON / Reuters US bank regulators proposed easing a key capital rule designed to restrict bank leverage, a move that would free up $400 million of capital across the largest US banks. The proposal from the Federal Reserve and the Office of the Comptroller of the Currency would reduce the “enhanced supplementary leverage ratio” (eSLR) and more closely tie the ...

LONDON / Reuters The Japanese Bankers Association (JBA) and the China Banking Association (CBA) have joined forces to challenge proposed European Union regulations aimed at policing possible market risk posed by foreign lenders doing business in the bloc. In a letter to the European Commission seen by Reuters, the JBA and CBA — which represent hundreds of lenders from both ...

FRANKFURT / Reuters Once one of Germany’s chief power brokers in finance, Deutsche Bank Chairman Paul Achleitner’s switch of chief executive has triggered criticism that it was rushed through, casting a cloud over his own future. Achleitner forced out CEO John Cryan after a row that centred on what some describe as Cryan’s ‘indecisiveness’ in cutting jobs and costs, according ...

Bloomberg A plan to sell off India’s flagship airline is facing headwinds before it even gets started. Narendra Modi’s boldest asset sale yet is the proposed divestment of Air India, the nation’s money-losing flag carrier, has run into rough weather after some of the potential bidders opted out upset with the government’s terms. This setback, however, is the least of ...

Bloomberg Hundreds of flights were disrupted Saturday as a severe spring storm threatened to dump record snowfall on parts of the Midwestern US, while ice and freezing rain hit Canada’s Ontario province. Minneapolis-St. Paul International Airport, a regional hub for Delta Air Lines, has had to slow or halt aircraft throughout the day, contributing to about 350 cancelled flights, according ...

Bloomberg Boeing Co. proposed to build fighter jets in India along with two local firms, as the US giant prepares to bid for the world’s biggest combat aircraft order, joining the likes of Lockheed Martin Corp. and Saab AB. Boeing will partner state-run Hindustan Aeronautics Ltd. and Mahindra Defense Systems to manufacture the F/A-18 Super Hornet in India at a ...