Senator Elizabeth Warren has warned BNY that its reported interest in a merger with Northern Trust could violate federal banking laws, saying any potential deal between the two large custody banks raises antitrust concerns. Warren, the top Democrat on the Senate Banking Committee and a longtime big bank critic, told BNY CEO Robin Vince in a […]
Capital One Financial reported a rise in second-quarter adjusted profit on Tuesday, as the consumer lender was helped by a boost in interest income on its credit card debt and higher fee income. Shares of the company, which have gained nearly 22% in 2025, rose 2.5% after the bell. Consumer spending displayed underlying resilience in […]
Payments firm PayPal has partnered with the operator of India’s popular unified payments interface and others to launch a global platform through which consumers can make cross-border payments to businesses. The platform, PayPal World, will enable interoperability between local payment platforms and PayPal, the firm said in a statement on Wednesday. Its partners for the […]
The U.S. Commerce Department said on Monday it has opened national security investigations into the import of drones and related components as well as polysilicon, a key component in solar panels and semiconductors. The “Section 232” investigations, which were opened on July 1 but not publicly disclosed previously, could be used as a basis for […]
Since the 1970s, banking regulators have worked to set minimum standards for internationally active banks. The latest agreement, Basel III, was introduced following the 2008 financial crisis, but only partially adopted by the US in 2013. This column discusses the final set of rules (‘Basel endgame’) and their potential implications for the US economy and […]
The competition being fought between the US and China in cutting-edge technology fields friction is also affecting basic research activities at universities and other public institutions. This column examines how innovation processes in Japan compare with those in the US and China, and argues that Japan must improve the incorporation of cutting-edge international research results […]
State aid regulation is crucial to ensuring competitiveness in the EU Single Market, but enforcement remains challenging. Non-compliance by member states and foreign subsidies are ongoing concerns; however, detection is difficult. This column proposes an approach to identify suspect cases of hidden state aid recipients using machine learning algorithms. The predictions allow regulators to substantially […]
The traditional U-shape in wellbeing, with people’s life satisfaction lowest in their late 40s or early 50s, appeared to have been replaced around 2013-15 by wellbeing rising with age, driven by a collapse in the wellbeing of the young. This column uses survey data from 21 European countries to show while that the U-shape has […]
Economic history is increasingly able to provide us with evidence and inform pressing questions at the intersection of research and real-world decision-making. This column uses natural language processing and network analysis of articles from five leading journals over the past 25 years to identify a shift towards a more global, data-driven, and methodologically advanced field. […]
Profit shifting by multinational enterprises increases after-tax earnings but can expose firms to regulatory and reputational risks. This column uses data on variations in profit shifting between 2010 and 2020 alongside global stock return data to examine how stock markets price profit shifting. The authors find that a one standard deviation increase in profit shifting […]
