10 Enduring Lessons From Adam Smith

Beijing Flip-Flops, Asks Banks To Pause Loans To Sanctioned Refiners Days After Ordering Them To Ignore Sanctions Over the weekend, we reported that in what some called a "watershed moment", Beijing ordered Chinese companies not to comply with US sanctions on five domestic refiners linked to the Iranian oil trade, deploying for the first time a blocking measure introduced in 2021 that was aimed at protecting its firms from foreign laws it deemed unjustified. Of note, China's refiners - including Hengli Petrochemical (Dalian) Refinery which was sanctioned last month and several other...

Tesla Surges After Beating Expectations, Says "Rebound Of Demand" For EVs Heading into today's TSLA earnings, Wall Street was braced for a miss, with debate only around how big it would be. Well, it wouldn't be an Elon Musk joint if there wasn't some big twist, and sure enough, the stocks is soaring after hour on what can only be described as a very big, and very unexpected beat. Here is what the company reported for the first quarter: Rev. $22.39B, beating Est. $22.19B Adj EPS 41c, beating Est. 34c, the second straight quarter Tesla’s...

One War & Five Scenarios To End It Authored by Amir Taheri, With the war between the Israel-US duo and the Islamic Republic in Iran entering its fourth week, two questions are asked in policy circles across the world. The first is: how long will it last? The answer is: how long is a piece of string? Which means: because no one knows, no speculation is warranted. The second question may be beyond a journalist's bailiwick: how does it end? As one of my mentors in journalism taught so many decades ago, we had better leave...