News from Around the World

African Development Bank commits to coal-free financing

NAIROBI — The African Development Bank will no longer finance coal projects, bank president Akinwumi Adesina announced this week at the U.N. Climate Action Summit. It was the first public announcement by the bank committing to end financial support for coal.

“Coal is the past, renewable energy is the future,” Adesina told the audience. “For us at the African Development Bank, we are getting out of coal.”

After Taxing Rescue, France Vows to Restore Notre Dame

More than 1,000 people were celebrating Mass inside Notre Dame Cathedral on Monday evening, listening to a Gospel reading while more than 100 feet above their heads, concealed by the famed vaulted ceilings, a canopy of fire was spreading.

AI-spy: The workplace of the future

As artificial intelligence pushes beyond the tech industry, work could become fairer—or more oppressive

Algerian President to Resign, Yielding to Protests

Algerian President Abdelaziz Bouteflika will step down as head of this major energy-exporting nation by the end of his term this month, as the ailing leader bowed to weeks of protests demanding his resignation after two decades in office.

All Eyes on Corporate Guidance After Weak Economic Data

Tepid global economic data has triggered a razor-sharp focus among investors on corporate guidance.

Economic reports in emerging and developed markets have been broadly below expectations, causing Citigroup economic surprise indexes in the two groups to fall to near their lowest levels since June. That the Citi gauges are negative suggests data in aggregate are missing economic expectations.

America raises tariffs on China, and the stakes in a trade war

MEETING IN WASHINGTON, Chinese and American trade negotiators made it through dinner without hurling the plates at each other. But there was no truce on the menu.

Argentina's Central Bank Chief Warns on Outlook

Argentina’s new central bank governor said it was “definitely too soon” to declare that stability had returned to the country’s battered currency, whose dramatic slide this year forced Buenos Aires to seek a bailout from the IMF.

The Argentine peso has gained more than 10 per cent since a monetary policy programme backed by the IMF was put in place when Guido Sandleris took over at the central bank last month. But, Mr Sandleris warned, rising global interest rates and a possible US-China trade war meant the outlook for emerging markets, including Argentina, was still unclear.

Argentina: how IMF’s biggest ever bailout crumbled under Macri

The decision to seek what became the biggest bailout in the IMF’s history took only a few minutes.

A loss of faith in Argentina’s reform programme had been visibly demonstrated by a two-week run on the peso in spring last year. President Mauricio Macri had few options left. A long-mooted contingency plan went into action.

As Central Bankers Meet, Economic Uncertainties Weigh on Sunny Outlook

Tariffs, emerging markets and U.S. discord are likely to be the focus of side conversations at the Fed’s annual mountain retreat

As Herman Cain Bows Out of Fed Contention, Focus Shifts to Stephen Moore

WASHINGTON — President Trump announced Monday that Herman Cain, one of his two embattled picks for the Federal Reserve Board, had withdrawn his name from consideration, even as his second candidate came under new scrutiny over his attitudes toward women.