A recent report by Goldman Sachs’ global research team highlights a new study showing that large, dominant superstar companies are paying lower wages and earning higher profits. I’ve flagged that research myself, but when Goldman says it’s worried, you know things have really gotten serious. American industry is increasingly dominated by a shrinking handful of giant companies. Why is Goldman ...

Prime Minister Narendra Modi’s ambitions to turn his country into a powerhouse of high-tech manufacturing via the ‘Make In India’ campaign just received one hell of a boost. Toyota Motor Corp.’s Lexus is considering assembling its ES brand in the nation to take advantage of lower import tariffs on auto parts, the Asahi newspaper reported, citing an unidentified official. To ...

Barclays Plc CEO Jes Staley reckons he will keep his side of the bargain he struck with shareholders back in 2016. Back then, he cut the dividend to give him more space to speed up his overhaul of the bank. A bet on that effort paying off still needs a fair amount of faith. On February 22, Barclays reported a ...

The Trump administration’s latest strike on the Affordable Care Act is to expand the availability of so-called short-term health insurance. Don’t be misled by the seeming modesty of this idea. It’s an impressive combination of bad policy and bad faith. First, these aren’t short-term plans at all. They’d provide coverage for up to a year, much longer than required for ...

New York City has added an estimated 488,478 housing units since 1991. For a city that has added 1.1 million jobs over that same period, that’s not great, but it’s not terrible, either. Where things get complicated — and in some ways less encouraging — is in exactly what kind of housing it has added. These numbers are from the ...

In the financial world, bonus disappointment is cause for anguish, outrage, and sometimes a job change. Rather than enjoy guides on how to splurge on a foreign bolt-hole, victims are left instead to write pseudonymous columns about how Jeremy Corbyn’s views now pervade the corner office. When even Deutsche Bank AG pays bonuses, it seems unfair not to get what ...

Back in 1992, Singapore feared that its gleaming new subway would be wrecked by people using something sticky to disable automatic train doors — so it banned chewing gum. Twenty-six years later, the prohibition on the import, manufacture and sale of gum is still in place, even though the utility of that harsh curb has never really been proved: Hong ...

Bloomberg US claims that a Latvian bank laundered money and violated sanctions on North Korea led to the lender’s demise in little over a week, turning the spotlight on the European Central Bank’s role as chief supervisor for euro-zone lenders. The US Treasury proposed banning ABLV Bank from doing business in dollars, but the ECB doesn’t have the power to ...

Bloomberg Bank of England Deputy Governor Dave Ramsden looks to have changed his mind on interest rates. An opponent of a rate increase in November, Ramsden told the Sunday Times in an interview that an acceleration in wage growth suggests swifter rate rises are now required. Ramsden said he’ll closely monitor what happens in the early part of 2018 to ...

Bloomberg The clock is ticking for John Cryan to complete the next step in Deutsche Bank AG’s turnaround. The lender on Monday said it will sell shares in its DWS asset management business “in the earliest available window,” confirming a plan first outlined a year ago and kicking off what is usually a four-week run-up to the initial public offering. ...