A mortgage firm was tasked with lending to minority and low-income home buyers. So why have many of its loans gone to celebrities and the ultrawealthy? A Barron’s investigation.
The world’s biggest retailer stumbled in the early innings of the e-commerce revolution. Now that Walmart has found its footing, it’s poised for big profits.
‘Editor’s Picks’ Podcast (July 3, 2023) – A selection of three essential articles read aloud from the latest issue of The Economist: The humbling of Vladimir Putin, how misfiring environmentalism risks harming the world’s poor (10:20) and some tips to design better flags (18:55).
The Wagner mutiny exposes the Russian tyrant’s growing weakness. But don’t count him out yet
The last pretence of Vladimir Putin to be, as he imagines, one of his nation’s historic rulers was stripped away on June 24th. A band of armed mercenaries swept through his country almost unopposed, covering some 750km (470 miles) in a single day, seizing control of two big cities and getting to within 200km of Moscow before withdrawing unharmed.
The trade-off between development and climate change is impossible to avoid
Thank goodness for the enthusiasts and the obsessives. If everyone always took a balanced view of everything, nothing would ever get done. But when campaigners’ worldview seeps into the staid apparatus of policymaking and global forums, bad decisions tend to follow. That, unfortunately, is especially true in the world of climate change.
Have you ever met a vexed vexillologist? This is someone who frets when flags are badly designed. Sadly, too many flags flutter to deceive: they are cluttered with imagery, a mess of colours and all too easily forgettable. Yet flags matter. Witness Ukraine’s blue-and-yellow banner, which now serves as a potent symbol around the world (not to mention on this newspaper’s covers).
FAST channels have brought back old-school TV channel guides—and plenty of advertising. But the shows are free and incredibly varied. Media execs are taking note.
‘Editor’s Picks’ Podcast (June 12, 2023) – A selection of three essential articles read aloud from the latest issue of The Economist including the trouble with sticky inflation, the challenge of building Ukraine 2.0 and why Modelo Especial is the new king of beers.
The costs of taming price rises could prove too unpalatable for central banks
The trouble is that the inflation monster has not truly been tamed. Britain’s problem is the most acute. There, wages and “core” prices, which exclude energy and food, are rising by around 7%, year on year.
For Russia’s war to fail, Ukraine must emerge prosperous, democratic and secure
Ukraine’s nation-builders face formidable obstacles. The greatest is that, while Mr Putin is in power, this war is unlikely to end with a solid peace treaty. The two sides may talk—if only to avoid being seen as war-crazy.
Move over, Bud Light. Heed the power of the Hispanic market
The king is dead. ¡Viva el rey! That is the cheer ringing through drinking dens this summer as Bud Light, America’s self-styled “king of beers” for 22 years, is dethroned by Modelo Especial, a Mexican brew.
The industry looks headed for a major rebound, defying expectations of a long-term decline. Stocks such as Diamond Offshore Drilling and Noble could surge 50% or more.
The costs of taming price rises could prove too unpalatable for central banks
At first glance the world economy appears to have escaped from a tight spot. In the United States annual inflation has fallen to 4%, having approached double digits last year. A recession is nowhere in sight and the Federal Reserve has felt able to take a break from raising interest rates. After a gruesome 2022, stockmarkets have been celebrating: the s&p 500 index of American firms has risen by 14% so far this year, propelled by a resurgence in tech stocks. Only in Britain does inflation seem to be worryingly entrenched.
For Russia’s war to fail, Ukraine must emerge prosperous, democratic and secure
Ukraine’s war is raging on two fronts. On the 1,000km battlefront its armies are attacking the Russians’ deep defences. At the same time, on the home front Ukraine is defining what sort of country it will be when the fighting stops. Both matter, and both will pose a severe test for Ukraine and its backers.
Iran cannot rival Ukraine and Taiwan for headlines, but it could soon prove as dangerous as either. Its nuclear-weapons programme has put its regime in a position to dash for a bomb. Because full-blown negotiations are impossible, the threat could yet draw the Middle East into war—including through American strikes on Iranian nuclear facilities. That is why it is good that the Biden administration is seeking to lower tensions.
The controversial China-founded retailer is growing into a global titan. Analysts say that many Western competitors are ignoring the app—at their peril.
Inflation has taken a bite out of budgets, and that’s particularly true at the grocery store, as everyday essentials from cereal to sugar have shot up in price. That sticker shock provides motivation for strapped consumers to eschew their favorite brands for less-expensive generics—often made by TreeHouse Foods
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