The battle to control the Federal Reserve is being waged on many fronts. There’s President Trump’s relentless tirades against Fed Chairman Jerome Powell — and Powell’s low-key rejoinders. There’s the clamour from investors (aka Wall Street) for easy credit to prop up stock prices. Some economists favour cheap credit to sustain low unemployment (3.7%). What’s been missing is a cogent ...

Cruise ships are big business for port cities around the world. But starting next year, Cannes, one of the world’s most famous ports-of-call, will no longer welcome them unless they comply with strict pollution controls. Passengers who choose to sail on dirty vessels will have to disembark elsewhere. So far, the industry doesn’t seem worried. It should be. Increasingly, consumers ...

To understand Elliott Management Corp.’s plans for AT&T Inc., it’s worth examining how it tackled a relative telecommunications minnow in Europe. The activist investor’s 2018 fight for control of Telecom Italia SpA may have provided something of a dry run. Last year, after revealing its stake in the Italian carrier, the fund run by combative billionaire Paul Singer started with ...