The people voted to scrap the project that was one-third finished, $4 billion over budget, mired in allegations of corruption, and built on an unstable lake-bed. But it has a life of its own.More
Months After Takeover, European Supermarket Giant Dia Discloses Huge Losses, Plunging Revenues, Soaring Debt
Russian billionaire rues the day he bought it. “We should have been more cautious and done our due diligence better.” More
Global Slowdown? Mexico’s GDP Declines Year-Over-Year for First Time Since 2009
Not just exports and manufacturing – but services stall. More
Redemptions Rip Through UK Equity Funds as Fallout from Woodford Collapse Grows
In funds with a liquidity mismatch, the First-Mover Advantage is huge, as Woodford’s investors found out. More
The Crisis in Catalonia and What I Saw in Our Neighborhood in Barcelona
As separatist region is rocked by violence, businesses sound alarm.More
JPMorgan, BofA, Citi, Barclays, Deutsche Bank, BBVA, Santander Accused of Rigging Government Bond Auctions in Mexico. Bank of Mexico Implicated
Collusion and “absolute monopoly practices”More
Just Weeks After the Collapse of Thomas Cook, Spain Launches First Bailout of its Huge Tourism Industry
“An unforeseen crisis.” Other headwinds intensify too. More
GM, Ford, BMW, VW, Honda Shift More Production to Mexico. Auto Imports Surge Despite Decline in US Sales
But Mexican exports to other countries plunge, tripped up by global auto slowdown. More
Low & Negative Interest Rates Get Broadsided by the BIS
They undermine banks. To dodge the fallout, banks chase yield, buying stuff like CLOs, instead of lending. When loans go bad, banks may “evergreen” them. More
Metro Bank Teeters after Bond Sale Fails. Shares Collapsed 95%
Hedge-fund manager Steven Cohen and Michael Bloomberg are among those ruing the day they bought the crushed shares of the UK bank touted as a “bargain.” More
Nick Corbishley 