John Maynard Keynes wrote in 1930 that “if economists could manage to get themselves thought of as humble, compe tent people on a level with dentists, that would be splendid.” Almost a century later, he’s getting his wish. Economists tend to be a grandiose bunch. They advise presidents and billionaires. They are generally unashamed about offering semi-professional opinions on ...

  Shelly Banjo America’s largest department store chain pleasantly surprised Wall Street last week by announcing plans to close 100 stores. At 12 percent of its total store base, that’s more locations than it shuttered during all of the last six years. Macy’s shares spiked 17 percent on the news, as investors shrugged off a sixth straight quarter of declining ...

  Nisha Gopalan Buy on rumour, sell on fact? China has given its blessing to a pipe that links the stock exchanges of Shenzhen and Hong Kong, opening the nation’s market further to foreign investors and allowing more funds to flow in the opposite direction. Anyone hoping the news will juice a rally in Chinese shares may be disappointed, though. ...