India’s fledgling bankruptcy regime is turning both karmic and American. Eat, pray, love; applaud the shift. The government tweaked the 2016 insolvency law on Wednesday to disallow managements that have been “willful defaulters” from bidding for their own assets. That weird term has been defined by the central bank as instances where borrower firms didn’t repay while having the capacity ...

The Justice Department’s new head of antitrust enforcement, Makan Delrahim, is getting plenty of grief for his surprise decision to challenge merger of AT&T and Time Warner. He’s been accused of stretching law “beyond the breaking point,” and of helping President Donald Trump act on his long-running grudge against Time Warner’s flagship news network, CNN. Actually, Justice is to be ...

The idea that prices in financial markets reflect all available information — also known as the efficient markets hypothesis — has many variations: Some adherents think the process is immediate and precise, while others think it’s much messier, with prices often missing true value by a significant margin. New research suggests that the latter version fits the data better — ...