Business And Finance

Recent tax reforms in America will hurt charities

DESPITE its oft-professed pro-market orthodoxy, America has always had an unusually large non-profit sector. Americans gave $390bn to charity in 2016, with the bulk of contributions coming from individual donors. Historically, revenues at non-profits tend to track GDP growth. The recent tax reforms imply that despite strong economic growth, charitable contributions in America are poised to fall for the first ...

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Those Brexit clichés explained

EVER since February 2016, when David Cameron, the British prime minister, called a referendum on the UK leaving the EU, the debate has been clouded by catchphrases, similes and confusing metaphors. If you haven’t followed the debate religiously, or you are unfamiliar with British idioms, these may be mysterious. So as the negotiations reach a critical stage, here is your cut-out-and-keep ...

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Creditors call time on China’s HNA

THE ascent of HNA, an aviation-to-financing giant, began on six wings and a prayer. It started out as Hainan Airlines, set up on China’s southern palm-fringed island in 1993 with three planes, in a joint venture between a Buddhist businessman, Chen Feng, and the local government of Hainan. In 2000 the firm became HNA Group and, from a Buddha-shaped headquarters, ...

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The next generation of wireless technology is ready for take-off

NORTH KOREAN athletes will not be the only unusual participants at the winter Olympics in Pyeongchang in South Korea, which begin on February 9th. Anyone can take part, at least virtually. Many contestants will be watched by 360-degree video cameras, able to stream footage via a wireless network. At certain venues around the country sports fans will be able to ...

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What Natarajan Chandrasekaran must do next at Tata

FACED with complexity humans often resort to a heuristic, a rough mental template that gets the job done. That could come in handy at Tata Group, India’s largest business, whose dizzying mix of scale, palace politics and sense of moral purpose defy any categorisation. Tata’s boss, Natarajan Chandrasekaran, known as Chandra, has been in the job for a year. He ...

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Financial markets abhor an equilibrium

THE recent volatility in the stockmarket has come as a shock in part because equities have been performing well for an extended period. Share prices have been on a broadly upward trend ever since the spring of 2009. That follows the long bull market of 1982 to 2000. As the chart shows (on a log scale), there has been a ...

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