The Hong Kong IPO of China Tobacco International (HK) Co. is looking like a hard sell. The offshore unit of China National Tobacco Corp. is not only in a sunset industry that’s been under attack globally because of smoking’s link to cancer, it’s also found itself in the crosshairs of the US-China trade war. Add to that a forecast slump ...

Regulating speech is difficult even under the best of conditions, and the internet is far from the best of conditions. Its patchwork system of regulation by private entities satisfies no one, yet it is likely to endure for the foreseeable future. By way of explanation, consider a case in which authority is (mostly) centralised and the environment is (mostly) controlled: ...

Bloomberg Saudi Arabian banks may report double-digit earnings growth this year as rising interest rates and increased government spending offset the risk of higher bad-debt charges. Even loans may expand faster after four years of declines led to a contraction in 2017. The government’s 2019 budget increased spending in the face of plunging oil prices. “More stimulus, business confidence, privatisation ...