Opinion

  A report published in the journal Space Weather this week makes for sobering reading. In four scenarios envisaging the economic impact of a solar storm, the mildest triggers a daily loss to the US economy of $6.2 billion, or 15 percent of daily output; the worst case sees a cost of $41.5 billion, wiping out every dollar the world’s …

  Goldman Sachs Group Inc. slimmed down in 2016 — and not just because the Trump administration was recruiting. The New York-based bank reported fourth-quarter earnings on Wednesday that beat Wall Street expectations, helped in part by cost-saving measures that included lowering headcount by 500 positions. The decline brought reductions for the year to 2,400, or 7 percent of staff …

  The Venetian Republic and the British Empire built their economies on ocean trade. Dwindling naval power heralded their decline and fall. It’s a thought that should provoke a shiver of recognition in Hong Kong and Singapore, given the way their airborne fleets are falling victim to a new Great Power struggle. Cathay Pacific Airways Ltd. will cut jobs and …

    If you’re worried about climate change, it’s scary to think that the incoming Trump administration could reverse gains made in recent years. But a recent conversation with departing Energy Secretary Ernest Moniz convinced me that the progress is probably irreversible. “There’s no question that we are moving to a lower-carbon economy,” Moniz said in an interview in his …

  The Indian government’s abrupt decision to withdraw high-value notes from circulation has hurt a great many people and sectors of the economy. But the institution that’s been injured the most is the Reserve Bank of India. Since demonetization was announced on Nov. 8, India’s austere and technocratic central bank has become the butt of online jokes. Soft-spoken Governor Urjit …

  A decision to arrest a top executive of the Samsung Group on suspicion of bribery and embezzlement would no doubt cheer the millions of South Koreans fed up with collusion and cronyism among the country’s elite. The way to prevent future scandals, however, is to transform the huge companies like Samsung that dominate the country’s economy. A court will …

  British Prime Minister Theresa May made UK stance about Brexit clear in her 40-minute speech. It has been heralded as a forwarding looking by some, and condemned by many others. She said that Britain would leave the EU single market of some 500 million people, but seek the greatest possible access to it through a new, comprehensive, bold and …

  In the first week of 2017, the offshore yuan surged by a record amount against the U.S. dollar over two days, interbank borrowing costs soared and volatility intensified. The following week, pretty much everything reversed. It’s a familiar pattern that exemplifies the contradictions bedeviling China’s currency. Policy makers have expended much effort trying to internationalize the yuan, notably by …

  For Morgan Stanley’s wannabe shareholders, this may be your time to pounce. The New York bank’s shares fell as much as 3.3 percent on Tuesday, despite a string of good news: Earnings per share blew past analysts’ estimates as Morgan Stanley posted its highest fourth-quarter profit since 2006 and record annual revenue. Those feats were made possible by a …

  Britain’s National Health Service (NHS) needs urgent treatment. Cuts to the social services budget mean hospital wards are clogged with people who could probably be cared for at lower cost elsewhere, especially the elderly in need of social care rather than medical treatment. Staff are stretched to the limits. The situation is already critical and the government’s published plans …