Opinion

Ours is a populist age, dominated not only by the anti-elitist posturing of Donald Trump and the Republican Party but also by a resurgent left that views “billionaire” as a dirty word. Many of our most profound problems, however, originate not in the pathologies of a narrow ruling class but among the broad mass of humanity. A powerful reminder came ...

Last month, Atlas Crest Investment Corp, a blank-check firm created by investment banker Ken Moelis, spectacularly lopped $1 billion off the enterprise value off its $2.7 billion deal with flying taxi company Archer Aviation. Several factors contributed to this reset, including an intellectual property dispute with a rival and the fact Archer has yet to finish developing a fully operational ...

The UK government is calling on the nation’s pension funds to participate in an “investment big bang” by allocating more capital to domestic and long-term illiquid investments. It’s a proposal that’s short on detail and fraught with difficulties, and one that pension fund trustees should treat with an abundance of caution. Prime Minister Boris Johnson and Chancellor of the Exchequer ...

It’s easy to lose count of the number of times someone has declared the death of Polish democracy; usually reports are exaggerated. Poland is large enough, diverse enough, noisy enough and liberty-minded enough to resist being dragged under a dark authoritarian blanket again. That doesn’t mean we shouldn’t be worried by recent developments. The erosion of democracy may be a ...

It was on August 15, 1971, and many Americans were watching television — the most popular show that evening being the Western series “Bonanza.” (Older readers will recall that it chronicled the adventures of the Cartwright family — Ben, his three sons and their Chinese cook — on their Ponderosa Ranch in Nevada.) At 9 pm Eastern time, the Cartwrights ...

It’s hard to know how much to panic over California’s dwindling water supplies. The state has never really had enough water, after all, yet lawns in Beverly Hills somehow remain perpetually green. Earlier this month, however, came a sign that life might soon be getting more uncomfortable for more Californians. On August 3, the State Water Resources Control Board voted ...

There’s no real precedent in the drug industry for the rapid rise of Moderna Inc. on the back of its highly effective Covid-19 vaccine. The company’s market value soared from $6 billion to a peak of almost $200 billion in 19 months, exceeding century-old Big Pharma stalwarts. Last month, it entered the S&P 500 Index. It takes a leap to ...

The spillover has already begun, before the Taliban have even reached Kabul. City after city is falling as the extremist insurgents draw closer to the capital. And it will only get worse from here as the conflict expands beyond Afghanistan’s borders. Extremist groups based in the country, some with transnational agendas like al-Qaeda, now have a template for defeating governments ...

Reebok may not be the old man shoe for long. Adidas AG said that it had agreed to sell the brand —the maker of the Reebok classic that was briefly the most in-demand “Dad” sneaker around — to Forever 21 owner Authentic Brands Group Inc. The price could end up being 2.1 billion euros (close to $2.5 billion). The sale ...

In just a few months, the rental market in many New York City (NYC) neighbourhoods has flipped from stagnant to red hot. The value of move-in incentives to entice renters in Manhattan hit the lowest in a year as of July, according to appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. In Brooklyn, new lease signings were the ...