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.
The U.S. Food and Drug Administration said in a safety alert that some widely used treatments for Type 2 diabetes can cause severe and disabling joint pain, raising new concerns for a big-selling class of drugs.
Chinese real-estate firms, among the country’s heaviest dollar borrowers, aren’t rushing to hedge their foreign-currency liabilities even as the surprise devaluation of the yuan adds to their debt load.