New mortgage lending in UK reaches highest level since 2008

British households are taking on the highest levels of fresh mortgage debt since the beginning of 2008, spurred by low interest rates from the Bank of England, even as the proportion of first-time buyers dwindles. Banks extended new mortgage commitments to borrowers worth £69.6bn in the three months to the end of September, an increase …

Southeast Asia’s Ride-Hailing War Is Being Waged on Motorbikes

JAKARTA, Indonesia — On a recent morning driving his motorbike for one of Asia’s fastest-growing tech start-ups, Nasrun picked up and dropped off four schoolchildren, an office worker, medicine from a pharmacy, some dumplings with peanut sauce, a few documents and an order of Japanese food, the last of which he took to a woman …

UK banks join multinationals in pledge to come clean on climate change risks

Bank of England governor Mark Carney has announced growing global support for a new initiative designed to help pave the way to a low-carbon economy by persuading firms to come clean about their exposure to climate-change risks. Speaking at the One Planet Summit in Paris, Carney said he was delighted that 237 companies with a …

Bitcoin buyer beware: US SEC warns ‘extreme caution’ over cryptocurrency investments

The head of the US Securities and Exchange Commission has warned bitcoin and other cryptocurrency investors to beware of scams and criminal activity in the sector. In the financial regulator’s strongest statement yet a statement, SEC chair Jay Clayton said: “If a promoter guarantees returns, if an opportunity sounds too good to be true, or …

Editorial: Mr. Mnuchin’s Magical Math on Taxes

Treasury Secretary Steven Mnuchin last month promoting Republican tax legislation. Tom Brenner/The New York Times Pressed by Congress and tax policy experts to prove the Trump administration’s claims that its $1.5 trillion tax cut would pay for itself by stimulating economic growth, the Treasury Department’s Office of Tax Policy released a one-page memo that shows …