Heard on the Street: Carl Icahn has taken a stake in Freeport-McMoRan, the copper miner which recently has been a hive of activity in terms of cutting costs and addressing concerns about its balance sheet.
Central bankers aren’t sure they understand how inflation works anymore. Inflation didn’t fall as much as many expected during the financial crisis and it hasn’t bounced back as they predicted when the economy recovered and unemployment fell.
“Craft” distilleries have mushroomed in the U.S. to 588 from 51 in the past decade. Feeling the heat from the new competition, global liquor conglomerates are getting in on the act, and not letting definitions get in the way.