Sotheby’s is under fire for accepting a $2.7 billion takeover bid from billionaire art lover Patrick Drahi. The handling of the sale reflects poorly on the board, even if it led to a generous offer relative to where the stock was trading. The venerable auctioneer received a takeover approach from a group of unidentified private equity investors in December. Others, ...

Donald Trump was unable to say whether he supported the single most viable idea for forestalling a recession: a payroll tax cut. It’s not a hard question — and by promising to make the cut temporary, he could increase the chances of it actually happening. The worsening US economic outlook has sparked a blame game in Washington. Trump blames the ...

The US budget deficit will hit $1 trillion in 2020, the Congressional Budget Office announced — a big round number that has both Democrats and Republicans worried that the US is on the road to fiscal ruin. They shouldn’t be. In the current global environment, trillion-dollar deficits may actually decrease the odds of a major economic crisis. In fact, one ...