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Reaction will be moving over to Substack from October 2024.
While our home is changing, the same content you know and love - insightful commentary on politics, economics and culture - remains the same. For new readers, we invite you to subscribe today at https://reactionpolitics.substack.com. For our existing subscribers, we will be in touch shortly to organise moving your subscriptions over to Substack without any interruption to your current experience.
An early proponent of dividend recaps – the financial two-step where equity capital is replaced by debt – was Thames Water.
The Marlboro manufacturer’s mistake is characteristic of those running industries thought to be in decline.
There are lessons to be learnt from Nasdaq Tower’s neon billboards celebrating corporate success.
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