No one associates insurance with fireworks. The same goes for the preference share market. Mix them together, though, and the results are combustible — and will have far-reaching consequences. Aviva Plc this week lobbed a rocket at its preference shareholders. The UK insurer will consider cancelling its “irredeemable” preference shares and paying back investors at par value — about 450 ...

When President Donald Trump entered office, it was clear that policies boosting energy production would take precedence over those protecting the environment. The administration’s 2019 budget and its addendum proposed sweeping rollbacks to programs designed to limit environmental pollution and mitigate the effects of climate change, while slashing funds devoted to research on renewable energy. Yet despite this setback, these ...

My first graduate microeconomics class didn’t start with any grand theories or mathematical proofs. It started with a demonstration. The professor marched us down to a computer lab, divided us into groups of six, and had us participate in a simulated market. Amazingly, the price of the virtual commodity we were trading quickly converged to a single value and stayed ...