Egypt’s President Morsi, a former Muslim Brother, reacted resolutely to this week’s Sinai attacks, in which 16 Egyptian policemen were killed. As we noted earlier, the Egyptian military attacked unknown targets in Sinai from the air. Shortly thereafter, Morsi fired his intelligence chief, the commander of the military police, the head of the presidential guard, and […]

Trading giant Morgan Stanley is planning to eliminate a number of positions by tapping computers that can make many trading decisions, according to the WSJ: While the effort represents only a part of what the firm is doing to boost low returns in the business, the shift already has reduced the ranks of interest-rate and […]

July was a difficult month for Brazil: a major corruption scandal bolstered the case for supporters of the rule of law and transparency. This was a small bit of good news amid otherwise discouraging economic signs and a round of massive deficit spending that may be storing up trouble for the future.The trying times at home […]

Newly-independent South Sudan and its northern neighbor Sudan finally seem to have agreed on the financial part of a deal to get the precious liquid flowing out of the south again; this is a crucial step for both countries, which rely heavily on oil revenues, the Financial Times reports. Most of the crude in the vicinity […]

California is rapidly running out of money to pay for even the most basic services; it’s the perfect time, think some in the Assembly, to add to the Golden State’s fiscal burden.According to this scathing Sacramento Bee editorial, Assembly Bill 2451, which is sponsored by the state’s highway patrol and firefighter unions, “removes the statute […]

America’s energy revolution is underway. Proven oil reserves have been steadily rising for years, and increased production of shale gas is projected to create tens of thousands of new manufacturing jobs in the years ahead. But that doesn’t mean we know precisely where it’s all going, or when it will end.One of the bigger questions, for […]

Conservatives have been damning Obama with Jimmy Carter comparisons for years, but the well-worn tactic may now pay off for Mitt Romney. Apparently, Jimmy Carter will be featured as a primetime speaker at the Democratic National Convention next month, reports the Wall Street Journal: Carving out a role for Mr. Carter at the party’s quadrennial […]

At least six countries have competing territorial claims to islands in the South China Sea, one of the world’s vital shipping lanes and home to abundant oil and gas reserves. In this complex strategic environment, economic competition bolstered by nationalist sentiment could disrupt American efforts to foster peace and stability in the region.As the Eurasia […]

The Wall Street Journal reports that home prices are rising at the fastest rate since the beginning of the housing crash. One data firm found house prices rising by 6 percent in the last quarter alone. Freddie Mac’s estimates are lower, at 4.8 percent, but this is still the fastest single-quarter increase since 2005. On […]

Egypt has decided to act against radical Islamists in Sinai, killing twenty in the most recent strike. The Financial Times has details: Overnight, Egyptian military helicopters fired missiles around Shaikh Zuwaid, a village 10km from the border with Gaza. Eyewitnesses were quoted as saying they saw two military planes flying over the town and heard […]