No American executive better embodied the anti-regulatory fervor and cutthroat ambitions of the 1980s than the former Ewing Oil chief. After an assassination attempt and two dark decades following the Texas oil bust his legacy was revived by, and lives on in, today’s shale boom.
China’s manufacturers have reported expanding output for the first time in more than a year. Data also show the U.S. recovery continues. These are big pluses. But a plunge in German services indicates the world is running on two out of three engines. European slowdown and the U.S. fiscal cliff will keep markets on edge.