UK Prime Minister Theresa May’s long-awaited speech on Brexit last week was admirably frank, impressively argued — and about 18 months too late. As it is, the country’s choices remain now just as they were before her address to the nation: Britain either stops this process in its tracks, or must prepare itself for dire consequences. May was right to ...

Russia and Ukraine may be practically at war with each other, but they are joined at the hip by Ukraine’s gas transit system, business partners in one of the world’s biggest energy export channels. On February 28, the company that owns the Ukrainian system, Naftogaz Ukrainy, won a $2.56 billion verdict that ends a four-year arbitration fight in Stockholm. The ...

Historical data show that stocks tend to post strong performances during periods of rising interest rates but only below-average results when inflation is rising or above average. This counterintuitive dynamic was explained by Warren Buffett in 1977 in “Why Inflation Swindles the Equity Investor,” which he wrote as the US was experiencing some of the worst price increases in its ...