Sri Lanka President Dissolves Parliament Amid Power Struggle

Prime minister Mahinda Rajapaksa, center left, and president Maithripala Sirisena, center right, at a rally in Colombo on Monday.CreditCreditM a Pushpa Kumara/EPA, via Shutterstock COLOMBO, Sri Lanka — The president of Sri Lanka dissolved the country’s Parliament on Friday night and called for elections in January to choose new lawmakers, a move that critics said […]

Car Bombs Kill at Least 20 in Somalia’s Capital

Security officers fleeing the scene of an explosion in Mogadishu, Somalia, on Friday.CreditCreditFeisal Omar/Reuters MOGADISHU, Somalia — Four car bombs exploded outside a hotel in the capital, Mogadishu, on Friday afternoon, killing at least 20 people and injuring 17, the police said. The Islamic extremist group the Shabab claimed responsibility. After three devices exploded in […]

UBS Can Afford a Legal Brawl With the Justice Department

Switzerland’s UBS has been accused of defrauding investors in its sale of residential mortgage-backed securities ahead of the 2008 financial crisis.CreditCreditArnd Wiegmann/Reuters The typically reserved chief executive of UBS, Sergio Ermotti, is ready to take a pop at the U.S. Department of Justice. The Swiss bank has been accused of defrauding investors by selling residential […]

A Tale of Two Washingtons Awaits Wall Street Banks

Randal Quarles, the Fed’s vice chairman of supervision, called for a “recalibrating” of bank rules put in place since the financial crisis.CreditCreditJacquelyn Martin/Associated Press WASHINGTON — Big banks are about to experience a tale of two Washingtons. On Friday, a top Federal Reserve official said regulators were preparing to soften some rules imposed on the […]

What the Hell Happened to Brazil? (Wonkish)

How did an up-and-coming economy suffer such a severe slump? Brazilians lined up to cast their vote for president in October. CreditCreditDaniel Ramalho/Agence France-Presse — Getty Images I think I can now take some time off from the U.S. political crisis to talk about events elsewhere. So, as the headline says, what the hell happened […]

Whitaker May Be a Bad Choice, but He’s a Legal One

The president’s designation of the acting attorney general is constitutional, so long as it is temporary. Matthew Whitaker, right, former chief of staff for Jeff Sessions.CreditCreditChip Somodevilla/Getty Images AUSTIN, Tex. — President Trump’s selection of Matthew Whitaker to serve as acting attorney general has provoked alarm across the political spectrum, and for good reason. But […]