Wars that are caused by people can also be caused by deep historical processes. For proof, look at the fighting in Ukraine. That conflict is the doing of Russian President Vladimir Putin, a ruler determined to reassert Russia’s greatness by destroying an independent Ukraine. Yet it is also part of a bigger story about what happens when empires break up. ...

If Walmart Inc signalled better times ahead for the broader economy, Target Corp’s profit collapse is a reminder that battered big-box stores aren’t in the clear yet. Target laid bare the damage from marking down its mountain of inventory, with an almost 90% slump in second-quarter profits. That’s in stark contrast to Walmart’s forecast that earnings wouldn’t fall as much ...

  Federal Reserve policy makers don’t have an explicit target for US stocks or consumer borrowing costs, but they know something’s off when they see it, and there’s a chance that now is one of those times. The S&P 500 Index has rallied 17% from its June lows through August 16, and consumer credit is growing at one of the ...