Suppose a Chinese electric carmaker wants to win market share by selling cars with the best cutting-edge battery technology. How does it get that technology? It can hire some engineers, build a lab and try to develop it inhouse. It can partner with a university research lab to create it. Or alternatively, it can buy an American company that already ...

Calling the turn in industrial cycles isn’t easy. It looks like investors in the beaten-down machinery sector have decided to stop trying. Wade past the impact of the trade war and its potential collateral damage, and conditions are looking up. US bellwether Caterpillar Inc sounded an optimistic note in results, as did its typically cautious Japanese industrial machinery peers, which ...

Ten years on from the financial crisis, bank balance sheets haven’t become any simpler to digest for the average investor. Finance firms are big and leveraged; regulations have just become new instruments of complexity. That might suggest a potential windfall for any brainy number-cruncher who’s bored enough to spend a year looking for inconsistencies in the industry’s accounts. London hedge ...