Australia’s miracle economy has delivered 26 years of uninterrupted growth, a record among developed nations. So how come its financial sector is riven with scandal and deceit? In truth, the two things are connected. Imagine you had two teenage children. Both have a habit of taking your credit card to spend on clothes and going out, but do it stealthily ...

The outlook for US debt and deficits isn’t pretty. The latest projections from the Congressional Budget Office are for $1 trillion annual budget shortfalls. On top of that, Treasury debt held by the public will almost double to $27.1 trillion over the next 10 years as the US steps up its borrowing to finance the deficits. Perhaps the worst part ...

A popular trade that worked for years is losing its shine. US multinationals – the missionaries of globalization that sell toothpaste, fast food and smartphones to consumers from China to India – have been investor darlings since the 2013 taper tantrum. Buying large diversified companies offered a smart way to gain exposure to these fast-growing young markets, removing the need ...