A curious thing is happening in China: Its stocks appear immune to any economic slowdown. For years, there was a strong correlation between China’s GDP growth rate and the performance of the benchmark MSCI China Index, which tracks Hong Kong and US-listed Chinese companies. The relationship was so pronounced that fund managers sifted through an array of macro indicators trying ...

Asset swaps have been a big thing in pharma over the past few years. Now it’s time for the un-swap. Novartis AG said it was unwinding part of a complicated 2014 asset swap with GlaxoSmithKline PLC, trading its stake in their consumer-health joint venture for $13 billion. The decision isn’t a huge surprise, though the timing is unexpected. It suggests ...

So is a trade war upon us? President Donald Trump announced last week that the US would place $60 billion worth of tariffs on Chinese goods, but what does that mean for the future of world trade? This conflict seems more likely to remain a modest spat than to blossom into a slugfest. First of all, China responded to Trump’s ...