Britain risks heading to US levels of inequality, warns top economist

Sir Angus Deaton says UK is at risk of extreme inequality in pay, wealth and health. Rising inequality in Britain risks putting the country on the same path as the US to become one of the most unequal nations on earth, according to a Nobel-prize winning economist. Sir Angus Deaton is leading a landmark review of […]

Morgan Stanley’s S&P 500 Bear Unbowed After Admitting Bad Call

Morgan Stanley’s Mike Wilson acknowledges he made the wrong call on the U.S. equity market this year. But that hasn’t dissuaded him from holding onto one of Wall Street’s most bearish forecasts. With the S&P 500 Index at a record high after surging 17 percent this year, the firm’s chief U.S. equity strategist issued a […]

A law cracking down on LLCs used for tax evasion and money laundering, when?

The bill would require corporations and limited liability companies to tell the Treasury who really owns them. After bouncing around Congress for over a decade, a bill to crack down on anonymous shell companies used in money laundering and tax evasion may advance this year, having attracted support from some strange bedfellows, including banks, unions, […]

Hedge funds are losing clients and money

Hedge funds are losing clients and money as they continue to deliver returns far worse than the broader stock market. The big picture: Since the beginning of 2015, Americans’ total financial assets have grown by nearly $11 trillion, Federal Reserve data shows, and less than 1% of that gain has been in hedge funds. Aside from a […]

2020: Trump is amassing money while Democrats are taking potshots at each other

Between Donald Trump’s steady unpopularity and manifest unfitness for office, it’s easy to lose sight of the fact that he is likely to be re-elected. At least according to most electoral models, which find the president cruising toward victory by a “not-trivial margin,” pending some sort of economic catastrophe. Predicting the future is impossible, of course, and betting […]

Facebook’s Zuckerberg Calls for Global Internet Regulations

Facebook Inc. Chief Executive Officer Mark Zuckerberg called for new global regulations governing the internet on Saturday, recommending overarching rules on hateful and violent content, election integrity, privacy and data portability. In a statement that was also published as an op-ed in the Washington Post, Zuckerberg said the company is seeking regulations that would set baselines for prohibited […]

Inversion Alert: Goldman Sachs Joins Chorus Warning Against Yield Curve Panic

Goldman Sachs Group Inc. added its voice to those advising against panic over the inversion of the U.S. yield curve, which has served as a recession warning in the past. The proportion of the yield curve that’s inverted isn’t as high as in past recessions, and part of the reason 10-year Treasury yields have slumped […]

Mueller or not, Trump is still unfit for the White House

He directed a criminal conspiracy to break campaign finance laws. He has used the presidency for personal enrichment. He has undermined democracy. He has damaged America’s global standing. He has lied repeatedly to the American people. He has obstructed justice. (Barr’s statement to the contrary is brief and unpersuasive.) When I wrote a Sunday Review piece earlier […]

30 years on, what’s next #ForTheWeb?

On the World Wide Web’s 30th birthday, our founder and web inventor Sir Tim Berners-Lee reflects on how the web has changed our world and what we must do to build a better web that serves all of humanity. Please share using #Web30 #ForTheWeb. Today, 30 years on from my original proposal for an information management system, […]