Plausible deniability?“Never believe anything in politics until it has been officially denied,” warned Otto von Bismarck, the old Prussian statesman. Does the Iron Chancellor’s old rule still apply?Last week, Donald Trump denied that he plans to pull the US out of the World Trade Organization,
Revved upThe US economy, engine of global growth, appears to be firing on all cylinders. Seasonally adjusted second-quarter growth is now set for 5.3% on an annualised basis, according to figures released last week by Macroeconomic Advisers, up from the previous forecast of 4.6%.If proved
Financial alchemyOne of the leading trends on financial markets in recent years has been the rise of passive investing. Exchange-traded funds (ETFs), a type of passive investment traded on a stock market, have added increasing complexity to the breadth of investment options for investors. A
Management matters“I wouldn’t say I was the best manager in the business,” the Derby County and Nottingham Forest legend Brian Clough once told an interviewer. “But I was in the top one.”In the week the World Cup got under way in Moscow, the varying fortunes
Lone rider“To err is human; to forgive, divine,” wrote Alexander Pope some three hundred years ago. If only it were so simple.Faced with the ongoing probe into rogue Russian involvement in the US election, the US president opened the working week with a tweet about
Close shavesOn Wednesday last week, newspapers around the world reported that Arkady Babchenko, a Russian journalist disdained by the Kremlin, had been found dead in Kiev, the victim of gunshot wounds. A few hours later, the man himself held a press conference, in which he
Last strawWarren Buffett may be the third-wealthiest man on earth, but every morning he drops by a McDonald’s Drive-Thru to buy his breakfast. Before leaving home, the veteran investor asks his wife to drop his exact breakfast money into his car’s cup holder. If he’s
Royal spoilsWhen it comes to Europe, investors prefer monarchies, or so said a study by CMC Markets. If correct, it would presumably mean Saturday’s Windsor nuptials – which cost taxpayers around £30 million – were a good long-term investment; the squads that faced off in
Persian peril“The rose that once has bloomed forever dies,” wrote Omar Khayyám, the Persian poet, some 900 years ago. So it may prove for the historic Iran nuclear deal of 2015, after Donald Trump pulled the US out last week – his plan to reinstate
High Marx“The production of too many useful things results in too many useless people,” warned Karl Marx, who was born 200 years ago last Saturday. What, then, might capitalism’s most famous critic have made of the 52.2 million people who bought themselves a new iPhone
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