North Korea economy rebounds from drought amid missile focus

SEOUL North Korea’s economy grew in 2016 at the fastest pace since 1999, helped by a recovery from a drought in 2015. Military spending, including on testing nuclear weapons and missiles, also boosted growth, and raised tensions in the region. Gross domestic product expanded 3.9 per cent from a year earlier, according to an estimate …

UK government borrowing jumps as inflation boosts debt costs

LONDON Britain had a larger-than-expected budget deficit last month as rising inflation pushed up debt payments. Net borrowing was £6.9 billion ($9 billion), up from £4.8 billion in June 2016 and above the £4.9 billion predicted by economists. It left the shortfall in the first three months of the fiscal year at £22.8 billion, up …

Credit Suisse’s once-mighty equities unit struggles under Thiam

LONODON/ZURICH/HONG KONG: In October 2015, Credit Suisse Group AG Chief Executive Officer Tidjane Thiam and the head of its markets unit, Timothy O’Hara, laid out their vision for a business they said would be key to overhauling one of the world’s biggest investment banks. “Credit Suisse has consistently been a top-three trader of global stocks …