The Swedish Academy won’t name a Nobel laureate in literature this year, depriving the book industry of one of its main annual promotional events, and acknowledging the tarnish on the highest honor in letters. The academy, which has awarded the prestigious prize since its creation in 1901, said Friday it needs time to repair the damage from a protracted scandal over allegations of sexual assault and financial impropriety.

Source: Wall Street Journal May 04, 2018 07:34 UTC