What goes up, must come down. What goes up fast must come down even faster. Except Hong Kong property, perhaps. The breakneck growth of China’s private-sector conglomerates has gone into reverse as authorities recoil at the buildup of debt their overseas shopping sprees have caused. The degree of pain inflicted by that great unwinding depends on the assets being sold. ...

Pharma’s pricing power just isn’t what it used to be, and it’s probably not going to recover any time soon. Pharmacy benefit manager (PBM) Express Scripts Holding Co. last week reported a record-low 1.5 percent increase in drug spending by commercial health insurance plans in 2017. It also said per-beneficiary drug spending fell for many commercial plans and gave a ...

Ignore the flim-flam, and President Donald Trump is offering some good ideas with his infrastructure proposal. The question is whether it’s too little, too late. Broadly, the plan envisions spending $200 billion to stimulate investment by states and businesses, with a goal of restoring roads, bridges and so on. It also aims to simplify regulation. With customary modesty, the White ...