Arriving in the midst of hurricane season, Puerto Rico’s new debt restructuring plan is a small ray of sunshine. But even if the proposal prevails in court — a big “if” — the territory’s prospects aren’t bright. With its obligations reduced, Puerto Rico will still outstrip every US state in per capita debt. Hopes for a lasting recovery will continue ...

Do economic sanctions serve US policy objectives? An important new report from the Government Accountability Office raises the question, but supplies an unsatisfactory answer: Although the departments of Treasury, State and Commerce all pay close attention to the impact of specific sanctions on their targets, there’s no reliable way to assess whether — or even to what extent — broader ...

Masayoshi Son could be on track for the biggest triumph of his career. Or the biggest failure. His decision to jump in and save a drowning unicorn, WeWork, goes against the precepts of the SoftBank Vision Fund that he founded, and could cause reputational damage worth more than the billions of dollars in this one deal. SoftBank Group Corp. may ...