We are now passing a significant milestone. The current economic expansion has become the longest in US history. Previously, the record was the decade from March 1991 to March 2001 (120 months). When the present recovery enters July, it will mark the 121st month of expansion. Just how much longer it will last is anyone’s guess, but, politically, this is ...

Carrefour SA, Europe’s largest retailer, may be the latest Western company to pull back from China. It’s unlikely to be the last. The hypermarket operator said it would sell 80% of its China business for 4.8 billion yuan in cash to Suning.com, Chinese retailer backed by Alibaba Group Holding Ltd. Carrefour will retain a 20% stake. Over the past few ...

Much of the commentary about Facebook’s proposed Libra coin has focused on its defects as a cryptocurrency – centralised governance, weak privacy protections – or as a payment processing system – low throughput, inability to handle multiple currencies. I think it’s more interesting to examine the process for creating Libra rather than specific technical features. But Libra is a work-in-progress. ...