THE headquarters of General Motors (GM) tower over the other skyscrapers in Detroit’s city centre, a reminder that the carmaker still rules the American market. Yet GM’s domestic might increasingly contrasts with its position elsewhere in the world. Although most other carmakers see becoming ever bigger everywhere as the answer to the industry’s multiple challenges, […]
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THE big investment shift of recent years is from active to passive. Clients have been buying index funds, which passively track a benchmark like the S&P 500 index, and shunning fund managers who actively try to pick the best shares. One reason for the shift is that passive managers charge lower fees than active funds. […]
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THE proposed sale of 5% of Saudi Aramco is not just likely to be the biggest initial public offering (IPO) of all time. “It’s like Gibraltar selling the rock,” as one expert on Saudi Arabia’s oil policy puts it. The world’s biggest oil company keeps the House of Saud in power, bankrolled 60% of the […]
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WHEN it comes to inflation, the Federal Reserve sometimes resembles a child freshly emerged from an age-inappropriate horror film. To its members, runaway price increases seem to lurk in every oddly shaped shadow. On June 14th America’s central bank raised its benchmark interest rate for the third time in six months, even as inflation lingered […]
Read morePresident Donald Trump has offered a simple explanation for his wealthy Cabinet choices: Rich people know how to manage money better than poor people do. In a rambling aside at a rally in Iowa on Wednesday night, Trump responded to criticism about his choices for top economic jobs, including billionaire investor Wilbur Ross for Commerce […]
Read moreMore than 600 employees at a Carrier plant in Indianapolis are bracing for layoffs beginning next month, despite being told by President Trump that nearly all the jobs at the plant had been saved. The deal, announced with great fanfare before Trump took office, was billed not only as a heroic move to keep jobs […]
Read moreAlida Monaco doesn’t spend her summers doing the usual teenage stuff, like working at the mall or flipping burgers. Instead, she’s studying special relativity and astrophysics — by choice. Monaco, 18, a recent high school graduate in New York City, spent upwards of three hours a day on homework while in high school. Summer classes […]
Read moreIn Charlotte, North Carolina, mother-son duo Julie and Michael Chambers are watching their small business, Melt in Your Mouth, come to life. The cupcake store they opened more than two years ago now has four employees, and they’re hoping to open up additional locations. But chief among their concerns is the tax burden they face. […]
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IN A corner of the state of Uttar Pradesh (UP) stands a gleaming building dedicated to animal slaughter on an industrial scale. Neatly mown lawns lead the way to a corral for hundreds of the curly-horned Murrah buffalo typical of the region. Nearby is a lorry-sized, stainless-steel machine in which the animals are killed. A […]
Read moreCurrency, United States Finance
British chip designer Imagination Technologies announced it had put itself up for sale on Thursday, weeks after the group launched a formal dispute against Apple. While Imagination said it was “progressing well” having attracted buyer interest, the U.K.-based firm confirmed it “remains in dispute with Apple”. In April, the Silicon Valley giant announced it would […]
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