The stock market of the late 1990s is remembered mostly for high-flying dotcom equities that eventually crashed back to earth. Yet, from a money flows standpoint, the bigger imbalance of that era was that large-cap stocks fetched very high valuations relative to small cap stocks. This market opportunity was exploited by hedge funds, leading to a decade of outperformance …

  Hangzhou/ AFP The United States and China on Saturday formally joined the Paris climate deal, with President Barack Obama hailing the accord as the “moment we finally decided to save our planet”. The move by the world’s two biggest polluters is a major step forward for the 180-nation accord, which sets ambitious goals for capping global warming and funnelling trillions …

  Lagos / AP Gunmen have kidnapped 15 oil workers on a road near Nigeria’s oil hub of Port Harcourt, police said on Saturday, in the latest unrest in the restive region. “Fifteen oil workers, including their driver, were abducted yesterday (Friday) by unknown gunmen who hijacked their vehicle on Omoku/Elele road after shooting into the air to scare passersby,” …