When Steve Case, the billionaire co-founder of AOL, first met J. D. Vance, author of “Hillbilly Elegy,” the best-selling book about the industrial decline of the Midwest, Mr. Case told him, “I really love the book but there is a part of it I don’t love.” Mr. Vance listened patiently. “It helped frame the problem […]
Read moreAustralia’s central bank said Tuesday it is keeping the benchmark cash rate unchanged at 1.5 percent, a widely expected decision given policy makers have signaled a steady outlook for some time to come. The Reserve Bank of Australia has maintained the cash rate at that historic low level since August 2016. A Reuters poll of […]
Read moreWith the price of bitcoin moving toward $12,000, a top economist on Tuesday sent a stark warning to investors: The cryptocurrency is in a “dangerous speculative bubble.” “This is a toxic concept for investors,” said Stephen Roach, Yale University senior fellow and the former Asia chairman and chief economist at investment bank Morgan Stanley. Roach, […]
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Starbucks is making a big impression in Shanghai: a 30,000-square-foot impression. Opening Tuesday in the Chinese city is Starbucks’ second Reserve Roastery, a “megastore” that is more of a mecca for coffee lovers than a traditional cafe. The locations, which feature small-batch roastings of rare and exotic coffees, are under the careful watch of former […]
Read moreThe race to get bitcoin futures is now on. The CBOE announced Monday it would begin trading bitcoin futures on Sunday evening at the start of global trading hours. The first full day of trading would be on Monday, Dec. 11. That would beat the CME, which has announced it, too, will begin trading bitcoin […]
Read moreCanadian Prime Minister Justin Trudeau is on tour in China to discuss trade, but experts say significant hurdles stand in the way of progress. Underlying the trip is the fact that Canada’s trade prospects took a hit following U.S. President Donald Trump’s threat in August to withdraw from the North American Free Trade Agreement. And […]
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