President Joe Biden has taken to saying that the Democrats’ “Build Back Better” legislation will reduce inflation. This spin isn’t just unconvincing. It underscores the absurdity of the Democrats’ political project. The first weakness of Biden’s argument is that the timing is all wrong. The White House issued a prepared statement from Biden claiming that “17 Nobel Prize winners in ...

It’s a familiar phenomenon for anyone who regularly shops online: A single tube of toothpaste arrives on the doorstep with lightning speed, but it’s in a box that easily could have housed an entire medicine cabinet’s worth of toiletries. This is partly a reflection of how retailers have optimised e-commerce for convenience, making the click of a button a viable ...

There is still a lot to fix at Deutsche Bank before it can hope to get near a decent return on equity, but in one area it has made definite progress: the cost and stability of its debt. Stock market investors should care. Deutsche Bank’s funding costs matter for its revenue prospects as well as for the expense of its ...