Can “Thatcherite candidate” Rishi Sunak win the contest for Tory leadership? Or will his party plump for a rival who follows in the footsteps of the Iron Lady’s great ally, Ronald Reagan? This is not just a question of style or positioning: Herein lies the wider economic choice facing the UK in the years to come. In their hearts, many ...

If everyone feels so miserable, why do they seem to be out having a good time? This is the puzzle in comparing US second-quarter bank results with terrible readings in recent consumer sentiment surveys. Citigroup Inc.’s customers are spending freely on restaurants and holidays, which drove credit card volumes up 18% compared with those in the period a year earlier, ...

  Searing inflation and a wave of interest rate hikes is putting global economies on a path to recession. And yet the world’s largest custom chipmaker just raised its full-year revenue guidance after posting another quarter of record profit. It’s not crazy to think Taiwan Semiconductor Manufacturing Co. will hit these bullish targets. Second-quarter net income of NT$237 billion ($8 ...