How much is a child’s future success determined by innate intelligence? Economist James Heckman says it’s not what people think. He likes to ask educated non-scientists — especially politicians and policy makers — how much of the difference between people’s incomes can be tied to IQ. Most guess around 25 percent, even 50 percent, he says. But the data …

  Bloomberg When you think of Singapore Airlines Ltd., visions appear of cushy premium cabins and bespoke leather seats. It’s all that, yes. But the luxury carrier is working hard to diversify with budget airlines under its corporate banner. It owns low-cost carrier Scoot; 49 percent of Vistara, a joint venture in India with Tata Sons Ltd.; and NokScoot, a …

  Bloomberg Consumer spending in the US rose less than forecast in November as after-tax incomes adjusted for inflation declined for the first time since October 2013. Purchases increased 0.2 percent after rising a revised 0.4 percent in October, Commerce Department figures show. The median forecast in a Bloomberg survey called for a 0.3 percent advance. Real disposable income, or …