It seems Amazon.com Inc. will be paying zero tax on its profits of roughly $10 billion in 2018. This has caused an outcry in certain quarters, but the complaints are misplaced. The corporate tax code is riddled with loopholes and has plenty of misguided preferences — some of them new, thanks to the tax-reform measure passed in 2017. But the ...

There’s an old theory that as an organism develops, it progresses through the same evolutionary stages traveled by its ancestors. Traditionally, economic development has worked in a similar way. When a country first shifts from agrarian poverty to industrialisation, it tends to start out in light manufacturing, especially textiles. Later it masters more complex manufactured products, and finally it progresses ...

Just because it’s a bargain, doesn’t mean it’s worth it. Associated British Foods Plc has said its Primark discount clothing chain had performed well in the UK in the first half of its financial year, offsetting difficult conditions in Germany. This comes days after value bakery brand Greggs Plc said full-year underlying pre-tax profit was likely to be ahead of ...