Opinion

President Donald Trump likes to brag that he’s bringing manufacturing back to the US. And indeed, with global trade slowing, the planet-spanning supply chains that have symbolised modern economic globalisation do appear to be contracting. But don’t be too quick to dismiss the idea of “borderless” production as a 1990s fluke. Even if their reach is more limited than before, ...

If you’re looking for a metaphor for how politics has swamped decision-making at Nissan Motor Co., look no further than reported plans to restructure its cratering global business. Nissan doubled its planned job losses to 12,500 and unveiled new production cuts after reporting a 99 percent plunge in fiscal first-quarter operating profit. The Japanese carmaker is considering reducing production in ...

Tesla Inc.’s earnings calls have lately taken on the trappings of office going-away parties. Just before the Q&A portion of the second-quarter call, CEO Elon Musk announced that JB Straubel, the company’s veteran chief technology officer, would step down to become a senior advisor. This was at least said up front, as opposed to the by-the-way announcement of the CFO’s ...

Aboard the USS Boxer in the Persian Gulf — Capt. Ronald Dowdell was on the starboard side of the bridge, looking towards Iran, as his vessel passed through the Strait of Hormuz on July 18. He’d been monitored by Iranian helicopters and speedboats, but now a drone was closing fast. Dowdell ordered his crew to disable the drone because it ...

Look at the coal yards surrounding China’s power plants and you’ll notice something strange happening. Typically at this time of year, stockpiles of the fuel that provides about two-thirds of the country’s power should be shrinking. Peak season for thermal power generation is July and August when cities switch on their air conditioning, along with the coldest months of winter. ...

It’s hard to believe after Snap Inc.’s shambolic stumbles over the last two years, but the company truly looks to be on the right road. Snap said that its Snapchat app increased the number of daily users in the second quarter at a rate not reached since before the company’s 2017 initial public offering. Importantly, Snap offered evidence that its ...

The Department of Agriculture’s four-paragraph announcement in the Federal Register of a “revision of categorical eligibility in the Supplemental Nutrition Assistance Program” didn’t fool anyone: The government is proposing to kick 3.1 million people off food stamps. And while the proposal is being attacked for its cruelty, the better argument is that it’s unnecessary. One of America’s oldest social-welfare programs ...

Britain’s new prime minister, Boris Johnson, won the job promising to do something Europe’s leaders have long refused to allow: renegotiate the Brexit withdrawal agreement. The EU should think again — not to help Johnson, but for strictly selfish reasons. The constant sticking point in the Brexit saga has been the so-called backstop — the plan to avoid new border ...

Singapore’s malls are showing some resilience to the global hollowing out of physical retail by online shopping. The demographics of the smartphone generation are still against them, though. Suburban middle-class shopping centers put up a strong show in CapitaLand Mall Trust’s quarterly earnings. Their relative outperformance was an overarching theme in the results of Singapore’s biggest mall landlord, which offer ...

The US technology superpowers need better talking points — and fast. The US Department of Justice said that it would start reviewing how “market-leading online platforms” became big and whether they are squashing competition, limiting innovation or hurting consumers in other ways that may violate US antitrust laws. The government didn’t name names, but rest assured you can throw Google ...