Economy & Policy

EU Likely to Raise Tobacco Taxes to Suppress Smoking

Butt out or pay up. The EU is set to propose stronger taxes on cigarettes and its first union-wide excise levy on vaping and tobacco-warming products, according to a draft European Commission document, curbing smoking habits, and opening gobs of…

Sales at Burberry, Canada Goose Further Luxury Retail Upswing

Fashion is an industry of trends and, on Thursday, two luxury jacket brands let the business world know what’s en vogue. At Britain’s Burberry — famed for posh trench coats and iconic tartan — it’s dividends. A rebound in revenue…

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BlackRock To Enter $18.9 Trillion Chinese Wealth Management Market

The world’s biggest asset manager is about to say “nĭ hăo” to a wealth of new clients. BlackRock won approval Wednesday to bring its wealth management business to mainland China, as the global investment firm looks to crack into the…

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Largest Inflation Jump Since Great Recession Has Wall St. On Edge

U.S. inflation climbed 4.2% in April. That’s the biggest one-month jump since the Great Recession in 2008. The news sent markets into (yet another) nervous frenzy on Wednesday, but the Federal Reserve brushed it off as a mere bump in…

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UAE Royals Make Wealthy Expats Their Fellow Compatriots

Concerned about looming tax regime changes in the U.S. and Florida just won’t cut it? If your CV is up to snuff, the United Arab Emirates may have an offer for you. The Gulf State is in the midst of…

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Pfizer, CVS See Vaccine Windfalls as G20 Readies to Open Up Travel

Vaccine

Every day is one step closer to the new normal. On Tuesday, a post-pandemic world of mobility and travel seemed closer than ever with a string of good news. It began when Pfizer and CVS reported sterling results, the former…

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Private Equity Tax Break Would Be Axed Under Biden Plan

U.S. President Joe Biden unveiled a $1.8 trillion plan to pay for tuition-free pre-kindergarten and community college on Tuesday. The big spend, funded by the largest income tax increases on rich Americans in a generation, was the top news line…

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Salmon Literally Shrinking as Cheddar Futures Swell

Fish and cheese generally don’t go together, and right now they’re headed in opposite directions. Salmon stock in the Pacific is literally shrinking, as fish are increasingly smaller for reasons scientists can’t fully explain. Billions are at risk. Meanwhile, in…

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The Vatican Adjusts its Balance Sheets

Our long pandemic year has left no stone unturned and no community untouched. It’s the fly in the ointment. The monkey in the wrench. The loose nose hair floating in the community Sacramental wine chalice. Everything and everyone has been…

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Yesterday, The Economy Woke Up Big Time

This was one Wednesday that did not mess around. Yesterday, the U.S. economy let out its first truly big roar of 2021. America’s big banks blew the doors off with massive earnings. Luxury-goods stocks hit record highs. Planes are flying….

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Strap In, Earnings Season is Here

Fed Chairman Jerome Powell appeared on 60 Minutes last night and the stoic central banker painted the picture of an economy at a critical “inflection point.” Heading into earnings season — with banks set to pave the way this week…

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Extra Credit: The Shifting World of Private Credit Markets

Tale of the Tape: Warren Buffett and Cathie Wood

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