Canada’s retaliatory tariffs worth $27.6 billion take effect as trade rift with U.S. deepens
Duties on U.S. steel and aluminum products have doubled to 50% as a war of words between Washington and Ottawa continues.
Economic news
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Offshore borrowing in renminbi hits record high of nearly $150bn
Issuance of ‘dim sum’ and ‘panda’ bonds rises past $149bn so far this year
Why Japan Inc can brush off interest-rate hikes — and America can’t
Divergent reactions underline the importance of the narrative behind rate rises
The cost of being Apollo
US academics have calculated the price that the private equity group’s portfolio companies pay for its reputation
‘Apollo premium’ drives up debt costs for group’s portfolio companies
Reputation for harsh treatment of creditors costs group about one percentage point in higher borrowing costs, research shows