Opinion

  McDonald’s Corp. looks like it’s gotten itself a happy meal in China. The consortium purchasing the assets, however, risks a bout of indigestion. The world’s biggest fast-food chain couldn’t have done much better than locking up Citic Group Corp. and Carlyle Group LP as buyers of its franchise in Asia’s largest economy. The $3 billion price tag that’s being …

  US airlines rejoiced earlier this year when it was announced that commercial flights would resume to Cuba after more than a half century, with one executive at a major carrier calling it almost a “once-in-a-lifetime opportunity.” Yet as service begins this week to Havana, the long-awaited travel surge to the island is already in doubt. Citing weak demand, American …

  Italy may be the next stop on the world’s journey to more economic nationalism. First we had Brexit — Britain’s decision to leave the European Union. Then we had the election of Donald Trump as the next U.S. president, pledging to put “America first” in his policies. Now Italy may be treading down the same path. What’s at issue …

  Despite their reputation as argumentative, litigious and impatient with regulation, “sharing economy” companies sometimes voluntarily go along with local rules to avoid even worse regulatory problems. Airbnb announced that, starting next spring, it will follow a directive in London that would make it impossible for hosts to rent out entire houses or apartments for more than 90 days a …

  President-elect Donald Trump’s intention to nominate James Mattis as secretary of defense places Congress in a bind. Is it duty-bound to reject an obviously well-qualified person for the job? Or would confirming Mattis, a retired four-star general, endanger the nation’s founding tradition of civilian control of the military? The problem is that Mattis retired from the Marines only four …

  Britain Supreme Court is all set to hear the government’s appeal against a ruling that it must get the approval of the parliament before triggering Article 50—a process to formally leave the European Union. It has led to the constitutional face-off. The High Court dramatically ruled last month that Prime Minister Theresa May’s government did not have the power …

  The European Union’s new legislative proposals for a clean energy transition have disappointed environmentalists, policy experts and even building insulation manufacturers. And yet, given U.S. President-elect Donald Trump’s lack of interest in sustainable energy, even this plan, cautious as it is, may well ensure Europe’s leadership in this area, especially if the Europeans manage to implement the best element …

  The US jobs report for November released was met essentially with a yawn by Wall Street, causing relatively little immediate movement in stock prices. This was understandable. The data’s mixed signals suggest a short-term Goldilocks scenario (neither too hot nor too cold) for markets and Federal Reserve policies. The longer-term implications, however, are more complex. Here is a summary …

  Amid rising Hindu nationalism, the Supreme Court of India has ordered theaters to play the national anthem before films and directed moviegoers to stand at attention — no excuses. The Indian Constitution is a wonder of the world, but this decision undercuts free-speech and individual rights at a moment when the country can ill-afford it. The court, which has …

  Donald Trump’s plans for infrastructure spending are finally materializing, and they already have no shortage of critics. But I think the critics should ease up, and give the president-elect a chance. The plan’s most heavyweight critic is the Federal Reserve Chair Janet Yellen. In a recent speech to Congress, Yellen cautioned against spending too much on infrastructure, warning that …