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Bloomberg The new leader of Zimbabwe’s ruling party asked Robert Mugabe to resign as president of the southern African nation. “The destiny of our country is in the hands of our people and his excellency must heed the call of the people to resign,” Emmerson Mnangagwa, who left the country after Mugabe fired him as deputy president earlier this month, ...

China is opening its financial firms to more foreign ownership. The opportunity might seem tempting. But developed-world buyers should beware — it’s possible that it’s a trap. On November 10, Vice Finance Minister Zhu Guangyao announced changes in the rules limiting foreign ownership of Chinese financial companies. Foreign investors will now be allowed to take controlling interests in Chinese securities ...

Asia’s two rival financial centers are starting to look very different, and the gap is going to widen. The divergence of Singapore and Hong Kong is already evident in the quality of their transportation networks. MTR Corp.’s main rail lines in Hong Kong have been glitch-free for 5.6 million kilometers of passenger journeys on average this year, while Singapore’s subway ...

Later this month, the Bank of England will publish the results of new stress tests on the UK banking system. With Britain facing the risk of a disorderly exit from the European Union, the exercise is even more important than usual. A so-called cliff-edge Brexit is looking more likely. This could cause a sizable fall in gross domestic product, a ...

Republicans in Congress appear to have reached agreement on several crucial points about tax reform. First, it should add to the budget deficit. Second, it should contain countless gimmicks to disguise its true fiscal impact. And third, it should make an insanely complicated tax code even more so. As both houses moved closer last week to passing a comprehensive new ...

In India, you don’t really exist till you’re on the right WhatsApp groups. It’s on those private chat rooms that political campaigns are sharpest; where India’s sprawling extended families quarrel and make decisions; and, according to a recent Reuters investigation, where company quarterly results are predicted with surprising prescience. There’s no proof of insider trading yet, but officials from the ...

As the US Justice Department tries to block AT&T Inc.’s $109 billion purchase of media giant Time Warner Inc., Time Warner seems to be bearing the brunt of investors’ apprehension. But if regulators get their way, it’s AT&T they should be more worried about. The DOJ on Monday sued to block the wireless carrier’s takeover of Time Warner, saying it ...

About a third of the customers queuing at La Maison du Bitcoin’s teller windows in Paris aren’t speculating on the value of the cryptocurrency. They’re sending digital money home to Africa. “In many countries in Africa, there are far more cellphones than bank accounts,” said La Maison co-founder Manuel Valente. “For bitcoin, all you need is a phone.” Zimbabwe, where ...

Bloomberg US stocks hit a new high, while the Canadian dollar and Mexican peso scored gains after a report of progress in negotiations over the North American Free Trade Agreement (NAFTA). The S&P 500 Index approached the 2,600 mark, reaching its highest level on record. While the Thanksgiving holiday gives traders an excuse to pause, equities are heading into the ...

Reuters Most Middle East stock markets fell on Tuesday, weighed down by geopolitical worries, but Abu Dhabi was boosted by government plans to privatise parts of Abu Dhabi National Oil Co (ADNOC). Saudi Arabia’s stock index fell 0.4 percent on the back of weak banks and cement shares. National Commercial Bank , the largest lender, lost 1.8 percent while Riyad ...