Finance & economics
Buttonwood
How far could America’s stockmarket fall?
With the prospect of cheaper money receding, shares look unusually vulnerable
Fiscal fiasco
Chinese authorities are now addicted to traffic fines
What that tells you about the country’s economic woes
Battles to come
Why a stronger dollar is dangerous
It sets the stage for a nasty new Trump-China clash, among other things
Free exchange
Can the IMF solve the poor world’s debt crisis?
The fund will freeze out China if that is what it takes to offer relief
Conflict finance
Frozen Russian assets will soon pay for Ukraine’s war
And America now hopes to convince others to make better use of the stash
House of Fraser
Citigroup, Wall Street’s biggest loser, is at last on the up
Jane Fraser’s unexpected success
Buttonwood
Why the stockmarket is disappearing
Large companies such as ByteDance, OpenAI and Stripe are staying private
Explosive material
Even without war in the Gulf, pricier petrol is here to stay
Expensive oil could put Donald Trump in the White House