Bloomberg The minority government of Portuguese Prime Minister Antonio Costa received a boost after his Socialist Party gained in national municipal elections. Two years before the next general election is due, the Socialists took 38 percent of the vote and 157 town halls with 99.8 percent of the country’s voting districts reporting, according to the government’s election website. Turnout was …

Bloomberg As the Palestinian Authority attempts to reassert control over the Gaza Strip this week, Hamas’s refusal to give up its guns is feeding doubts that a unity deal can take root. The authority’s prime minister, Rami Hamdallah, led a parade of senior officials from the West Bank on Monday to take over ministries that have been operated by Hamas …

Donald Trump isn’t draining the swamp. The president unveiled his long-awaited “tax reform” package last week, and although many crucial details were missing (for example, the income brackets), he was full of accolades. “This is a revolutionary change,” he said. Well, not yet. The federal income tax system—almost everyone seems to agree—is a mess. It features relatively high nominal rates …