This week, the British government published its long-awaited and somewhat delayed review into the British railway network.
The proposals — putting infrastructure, timetables, fares and tickets back into government hands but allowing private companies to run the trains — are a step in the right direction, but they would keep the network in a twilight zone.
British rail is neither fully private nor fully public, despite the government and the Treasury in particular having control over many aspects of the railway. Accountability is murky. Industry fragmentation — 29 train companies, fifteen leasing companies — has only made it worse. Read more “Great British Railways: Neither Public Nor Private Enough”
As if we needed more proof the Republican Party has surrendered all its principles to Donald Trump, the president is trying to ban a private company by executive fiat and the party of free enterprise is silent.
Trump may have a point on the merits. The Chinese-owned video-sharing app TikTok has a lot of problems, not in the least its vulnerability to state interference.
Ten years after the collapse of Lehman Brothers, economists Brunello Rosa and Nouriel Roubini — who famously predicted the Great Recession — warn that the next financial crisis is already in the making.
The Dutch Caribbean have been caught up in a legal dispute between the American oil company ConocoPhillips and the government of Venezuela.
A judge has allowed Conoco to seize Venezuelan-owned and -operated refineries on the islands in order to collect $2 billion in compensation awarded by the International Chamber of Commerce for the 2007 nationalization of Conoco assets in the socialist-run country.
Leonid Bershidsky is optimistic the EU can stand up to American threats and continue doing business with Iran. He writes for Bloomberg that the stakes are higher than President Donald Trump seems to realize:
With its influence on SWIFT, the Brussels-based payment-facilitation system, and its trade power, the EU is capable of blunting US sanctions. If they prove ineffective, and Iranians merely rally around their government as Russians have done in the face of American restrictions, the US may be exposed as less of a fearsome global policeman than Trump would like it to be.