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Four decades ago, two University of Rochester professors came up with a definitive theory for that “awesome social invention” known as a publicly held company. The firm, they said, was but a series of contractual agreements between the owners and their agents—the managers. And there the matter rested. Until a 20-F filing at the US Securities Exchange Commission by Bangalore-based ...

The headlines liken it to a “raid” or a “power grab.” But the European Union’s threat to repatriate euro clearing away from London is starting to look like a headache nobody actually wants to see happen. Which, all told, is probably a good thing. EU Commissioner Valdis Dombrovskis recently unveiled the legal framework of how the bloc plans to supervise ...

Usually when a president agrees to send more troops to a war zone, it’s part of a broader strategy. George W. Bush approved the surge of forces to Iraq as part of a population-centric counterinsurgency war plan. Barack Obama did the same in his first year when it came to Afghanistan, though he eventually regretted the decision, and spent most ...

Edmund Burke saw society as a partnership between those who are living, those who are dead, and those who are yet to be born. A failure to understand this relationship underlies a disturbing global tendency in recent decades, in which the appropriation of future wealth and resources for current consumption is increasingly disadvantaging future generations. Without a commitment to addressing ...

Goldman Sachs is embracing the machines. The firm that has long cultivated an image of relationship banking and trusted advice — in reality Goldman was always more of a trading house than rivals Morgan Stanley or boutiques like Lazard — now says it plans to hand over about half of the IPO process to computers. Goldman is trying to portray ...

Silicon Valley tech moguls are conducting an enormous experiment on the nation’s children. We should not be so trusting that they’ll get it right. Alphabet Inc. unit Google has taken a big role in public education, offering low-cost laptops and free apps. Mark Zuckerberg of Facebook Inc. is investing heavily in educational technology, largely though the Chan Zuckerberg Initiative. Netflix ...

Bloomberg Singapore property stocks are set for their best annual performance in five years, and strategists believe the rally is far from over. With an expected pickup in real estate following the easing of housing curbs, developers are expected to be the bright spot in Singapore equities as gains in the city-state’s stocks may be limited for the rest of ...

Bloomberg European stocks headed for the biggest gain in seven weeks, boosted by French equities after the country’s new president won a free hand to drive through economic reforms. Oil slid as fears of an ongoing supply glut refused to go away. Banks and automakers were the biggest winners as the Stoxx Europe 600 gained a second day. The CAC ...

Bloomberg Boeing Co. is set to receive orders and commitments worth roughly $30 billion for the stretched Max 10 upgrade of the 737 workhorse, as its first new jet in almost four years counters Airbus SE’s headstart at the largest end of the single-aisle aircraft market. The biggest 737 variant is set to get more than 240 orders from at ...

Bloomberg Reebonz Pte, Southeast Asia’s largest online luxury retailer, is planning to raise as much as $150 million to bolster its marketplace business and fund expansion in China, Japan and South Korea. Reebonz has been working with investment banks including Credit Suisse Group AG and Goldman Sachs Group Inc. since May to engage potential investors, Chief Executive Officer Samuel Lim ...