We are in the throes of another round of what the economist Joseph Schumpeter memorably called “creative destruction.” Two icons of American business – Macy’s and Sears — are struggling. Macy’s plans to close 100 stores to improve profitability, and Sears has sold its Craftsman tools line for roughly $900 million to raise cash. Conceivably, one or both of …

  Investment bankers in Asia are usually happy to see a spike in Treasury yields. It gives them the perfect excuse to tell clients that if they don’t issue dollar bonds now, the costs will be much higher later. That may help explain why debt sales in the US have uncannily accelerated, even as Bill Gross and Jeffrey Gundlach warn …

  Donald Trump’s views on vaccines have long been out of sync with science. Childhood vaccines cause autism, he asserted at a debate in 2015, echoing statements he had made in 2014 and 2012. But now the president-elect is poised to do more than just pass along misinformation: He has asked a die-hard “anti-vaxxer” to lead a commission on “vaccination …