News from Around the World

Ottawa Meeting Focuses on WTO Reform, Doesn’t Address U.S. Complaints

OTTAWA—Warning the status quo at the World Trade Organization “is no longer sustainable” and the multilateral trading system is at risk, U.S. allies pledged Thursday to address shortfalls at the institution.

Over 150 Flights Canceled as Hong Kong Airport Is Flooded by Protesters

HONG KONG — Hong Kong’s airport came to a near halt on Monday, with more than 150 flights canceled after thousands of demonstrators flooded one of the world’s busiest transportation hubs in a show of anger over the police’s response to protests the night before.

The airport said in an afternoon statement that all flights had been canceled for the rest of the day other than those already en route to Hong Kong. Almost 150 departures and more than two dozen arrivals were affected, according to the airport’s website.

Populists fall short of expectations in the European elections

THAT RIGHT-WING populism has gained ground in Europe in recent years is a well-established fact.

Post-Brexit Trade: A Missed Opportunity for Development?

BERLIN — During a visit to South Africa in August, British Prime Minister Theresa May announced that her government had secured its first post-Brexit trade deal: an agreement between the United Kingdom and six southern African countries, which she said would “build a closer trade and investment partnership in the future that brings even greater benefits for both sides.”

But the deal is actually a replication of an existing European Union arrangement with those six countries, known as an Economic Partnership Agreement, or EPA.

Powell Likely to Use Jackson Hole to Suggest Fed Ready to Cut

Federal Reserve Chairman Jerome Powell will have no lack of material to choose from when he kicks off the central bank’s annual Jackson Hole symposium Friday with a speech on the challenges for monetary policy.

Prepare for a synchronised global economic slowdown in 2019

It is that time of year when, if you’ve behaved very well and eaten all your Brussels sprouts, elves deliver 2019 macro and markets outlooks to your inbox. Last year, most heralded 2018 as the year of synchronised global growth. The theme did not really pan out, as US expansion far outstripped that of most developed economies thanks to fiscal stimulus.

QE May Be Over, But the Fed’s U.S. Debt Hoard Is About to Soar

If you thought the Federal Reserve was done with quantitative easing, you might only be half right.

Real Time Economics: Will the Economy Get Another Fiscal Boost?

One of the big unknowns for U.S. economic growth: federal spending. Lawmakers agreed to cap spending in 2011 as part of a bruising fight over raising the debt limit.

Saudi Arabia Oil Pipeline Attacked by Drones

Saudi Arabia said Tuesday it halted pumping on a major oil pipeline after it was hit by armed drones, the latest attack on its energy infrastructure after two of its oil tankers were damaged near the Strait of Hormuz over the weekend.

Saudi Aramco in talks to buy Reliance Industries stake

Saudi Arabia’s state energy group is in talks with Mukesh Ambani’s Reliance Industries to buy a minority stake in the Indian company’s refining and petrochemicals business, according to three people familiar with the discussions.