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Bloomberg Finance Minister Bill Morneau is proposing tax changes that would close loopholes often used by doctors and lawyers to reduce their tax burden, part of the Canadian government’s pledge to level the playing field for middle-income earners. In an Ottawa press conference, Morneau detailed the proposals reported by Bloomberg that were billed as ensuring “fairness for the middle class.” ...

Bloomberg IBM missed estimates for quarterly revenue, with sales in a key unit declining for the second consecutive period, further extending Chief Executive Officer Ginni Rometty’s turnaround plan into its fifth year without significant progress. Sales in the company’s technology services and cloud platforms segment dropped 5.1 percent from the same period a year earlier, even though executives had said ...

Bloomberg Daimler AG moved to head off a growing crisis over emissions concerns by voluntarily recalling more than 3 million Mercedes-Benz diesel vehicles in Europe, marking the latest blow to the technology since Volkswagen AG’s cheating scandal erupted nearly two years ago. The automaker will extend an ongoing upgrade of about 250,000 compact cars and vans to nearly every modern ...

Bloomberg UK Prime Minister Theresa May will launch a new business advisory group on Thursday, her office said, as her government tries to build bridges with financial and trade bodies during Brexit negotiations. May will chair the first in a regular series of meetings of the business council in her official Downing Street residence, with discussions due to focus on ...

Bloomberg Amid all the noise about the future of its trade relationship with the US, Mexico is quietly creating jobs at a record pace and reducing the informality that for decades has held back its economy. More than 517,000 Mexican workers gained access to social security in the first half of 2017, a 17 percent increase from a year ago ...

The Chinese government, subtle masters of propaganda, seem to have discovered a Sun Tzu formula for taming dissent on the internet: The best strategy may not be to confront critics directly, but to lull or distract them with a tide of good news. This intriguing argument is suggested by a recent article in the American Political Science Review titled ‘How ...

Although Raghuram Rajan co-wrote the influential 2003 book, Saving Capitalism From the Capitalists, it has fallen upon his successor at the Reserve Bank of India (RBI) to actually attempt such a thing. By the looks of it, Urjit Patel has a hard slog ahead. For now, the governor of India’s central bank can breathe a sigh of relief. His most ...

The failure of three banks in less than a month has led the European Central Bank to wonder whether it needs fresh powers to deal with struggling lenders. Some new tools might prove useful, but they aren’t the main thing. What the ECB needs most is the will to resist political pressure and act promptly when necessary. The recent crisis ...

After years of horrific fighting in Syria — including several failed cease-fires — it’s hard to get too excited about a limited agreement to stop hostilities in a tiny corner of the country. Yet the modest ‘de-escalation’ deal in Syria’s southwest is a promising sign. IS is not yet defeated. But the cease-fire, reached by Jordan, Russia and the US, ...

At this point, blanket critiques of the economics (or “econ”)discipline have been standardized to the point where it’s pretty easy to predict how they’ll proceed. Economists will be castigated for their failure to foresee the Great Recession. Some unrealistic assumptions in mainstream macroeconomic models will be mentioned. Economists will be cast as priests of free-market ideology, whose shortcomings will be ...