At the center of the increasingly bitter dispute between the US and Turkey is a demand by an irate President Recep Tayyip Erdogan that American prosecutors free a Turkish-Iranian gold dealer who’s about to go on trial on money-laundering and fraud charges. The confrontation sharpened, as Erdogan protested in Ankara that the businessman, Reza Zarrab, was being squeezed as a …

If you are adding to your long-term holdings of stocks and other risk assets at current market valuations, you are likely to be betting — knowingly or not — on a combination of three drivers of future returns; or you are planning to sell your holdings to someone who is or will be making that bet. Understanding the importance of …

Being sophisticated in the age of output curbs by the Organization of Petroleum Exporting Countries (OPEC) can prove a disadvantage, as the operator of the world’s biggest oil refining complex is discovering. Reliance Industries Ltd’s (RIL) 1.24 million barrel-a-day facility in Gujarat features highly advanced units designed to process the globe’s heaviest types of crude, which have historically been cheaper …