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Bloomberg Zimbabwe’s ruling party fired Robert Mugabe as its leader and ordered him to resign as president by midday on Monday or face impeachment. It named Emmerson Mnangagwa as the new party leader and presidential nominee for elections due to be held next year. The decisions were taken at a meeting of the Zimbabwe African National Union-Patriotic Front’s central committee ...

Harvard economist Dani Rodrik has a long and thoughtful essay about the shortcomings of neoliberalism — the economic programme of free markets and free trade. He writes: Economists’ contributions to public debate are often biased in one direction, in favor of more trade, more finance, and less government. That is why economists have developed a reputation as cheerleaders for neoliberalism, ...

South Korea’s corporate watchdog is going after charities that the nation’s family dynasties may have been using to skirt power-diluting inheritance taxes and maintain control, according to a Bloomberg News report recently. That’s a smart move, but an incomplete one. For the crackdown on the $12 billion in foundation money held by chaebol including Samsung Group and Hyundai Motor Group ...

Under President Barack Obama, the government took steps to impose greater accountability on the industry and protect students from predatory schools. The policy is both just and cost-effective: For-profit schools saddle students with more debt and lead to higher default rates than traditional schools. In 2016, the department issued the gainful-employment rule, which requires any educational program receiving federal student ...

The world’s cities will add 2.5 billion more residents by 2050, more than half of them in Asia. The effect of this great migration on climate change will depend in part on what kind of homes, factories and office buildings they live and work in. It’s a seemingly minor but significant issue that should attract attention from officials gathered at ...

It’s easy to see the oil and gas asset sell-off proposed by Norges Bank Investment Management, the entity that runs Norway’s $1 trillion sovereign wealth fund, as a bet on the hydrocarbon industry’s long-term decline. Indeed, Siv Jensen, Norway’s finance minister and the proposal’s addressee, predicted such a decline in a conference speech on Friday. But there’s a better reason ...

At a global economic conference last weekend, the US was everywhere and nowhere. In conversations at the World Economic Forum’s Global Future Councils, people wrestled with challenges to the global trading system, developing infrastructure for the 21st century, and restoring trust in experts and leadership. Donald Trump was never far off — his election being a kind of shorthand for ...

Is Tesla Inc.’s Semi on the verge of doing to the trucking industry what the iPhone did to telecommunications? Probably not — but the decarbonization of road freight may still upend both the logistics business and the oil industry. To see why, have a look at the International Energy Agency’s estimates last week for future oil demand. Consumption by passenger ...

Reuters Middle Eastern stock markets generally fell on Sunday, weighed down by geopolitics, while Dana Gas shares sank in Abu Dhabi because of a British High Court ruling on its Islamic bonds. In the last few weeks, geopolitics has become a significant factor for regional markets amid concern about instability in Lebanon and the possibility of strong Saudi action against ...

Bloomberg Soapmaker and real-estate stocks have taken over a rally that used to be led by social networks and smartphone makers. Companies with stable earnings and dividends have shepherded gains in November, the first time this year that the two best-performing industries are defensive ones. So, while this looked like just another week in the bull market, it was actually ...