Opinion

    The global economy is picking up steam, but that’s deceptive. The foundations of expansion are soft, marked by weak productivity growth and inequality. The two are related. The productivity problem confronting the world’s advanced economies predates the financial crisis more than a decade ago. When we look beyond the headline statistics, patterns emerge. Advanced economies have become less …

  Warren Buffett’s war chest is ready for his next deal — maybe even his biggest one yet. The company’s cash swelled to $86.4 billion at the end of 2016, and at this rate it means even takeovers in the $100 billion ballpark are conceivable, as my colleague Noah Buhayar wrote for Bloomberg News this week. He flagged Costco Wholesale …

  Malls are fighting for shoppers with one thing their web rivals can’t offer: parking lots. With customer traffic sagging, US retail landlords are using their sprawling concrete lots to host events such as carnivals, concerts and food-truck festivals. They’re aiming to lure visitors with experiences that can’t be replicated online — and then get them inside the properties to …

  Into the deadly morass of the Syrian war, Russian President Vladimir Putin has dropped a new peace proposal that calls for establishing safe zones in several parts of the country, grounding the Syria air force and possibly creating buffer zones between combatants to be monitored by international peacekeeping troops. Putin outlined his plan in a telephone call on Tuesday …

  Being a Chinese airline can seem pretty sweet. The country’s major carriers have what’s soon to be the world’s biggest aviation market to themselves. Operating costs are often on a par with budget carriers elsewhere. Thanks to their lack of fuel hedges, Chinese airlines have even pocketed an outsized benefit from the slump in oil prices. Sooner or later …

  The candidates in this Sunday’s French presidential election, Marine Le Pen and Emmanuel Macron, are alike in one way: Both stand outside the mainstream parties, promising an end to politics as usual. That’s something France’s voters appear to want. Beyond that, however, the differences are stark, and you could sum them up like this: Macron is a safe choice, …

  US President Donald Trump met with Palestinian leader Mahmoud Abbas for the first time in the White House on Wednesday. Trump is confident he could broker a Middle East peace deal as he told Abbas that the agreement between Israel and Palestine is “maybe not as difficult as people have thought over the years.” “Throughout my life I have …

  On Valentine’s Day, economist Kevin Grier quipped: “Roses are red. Pin one on your suit. America has eaten all the low-hanging fruit.” That pithy assertion is one of the most frightening propositions in the world today. There might be a way for a modern society to function without economic growth. But we don’t want to have to be the …

  Given its rich history, Italy is rightly attached to its relics. Unfortunately, this affection for the past does not stop at the Colosseum: It applies to failing companies too. Take Alitalia, Italy’s loss-making flag carrier, which has survived for years thanks to a string of public and private rescues. On Tuesday, the airline went into administration, prompting the government …

  When Tesla Inc. chief executive officer Elon Musk was asked if his burgeoning collection of startup companies might lead him to step away from the electric automaker, he said he’d stick around as long as he could “positively contribute” to its success. “The most valuable thing I could contribute is product design and technology,” he told analysts on the …