S&P Global followed Moody’s in cutting its credit ratings and outlook on multiple U.S. regional banks, saying higher funding costs and troubles in the commercial real estate sector will likely test the credit strength of lenders. A relentless rate-hike campaign by the U.S. Federal Reserve has raised deposit costs at banks, which have been forced […]
There is increasing interest around the world in designing policies to curb carbon dioxide emissions, which are driven in large part by economic activity. This column identifies that the macroeconomic variables most related to the annual growth of per capita emissions in Spain from 1965 to 2020 were private consumption and maritime transport of goods. […]
Economics is a popular degree in the US. However, men outnumber women by two to one at the best colleges, and overall there are about 2.5 male economics majors to every female major. This column examines the impact of the Undergraduate Women in Economics Challenge, which began in 2015 for one year as a randomised […]
In June 2023, the COVID-19 Household Monitoring Dashboard released its 18th edition. For over 3 years, the dashboard has shared harmonized high-frequency phone survey (HFPS) data to provide a near real-time picture of a rapidly evolving crisis. With data from 423 survey rounds across close to 90 countries, the dashboard is one of the largest […]
Citigroup is considering plans to reorganize the bank’s biggest division after its leader Paco Ybarra leaves next year, according to a source familiar with the situation. The bank is unlikely to replace Ybarra, the head of its Institutional Clients Group (ICG), the source said. Instead, the leaders of its three business segments — investment banking, global […]
Nvidia investors expect the chip designer to forecast quarterly revenue above estimates when it reports results on Wednesday. Their only question is, by how much? The company has been the biggest beneficiary of the rise of ChatGPT and other generative artificial intelligence apps, virtually all of which are powered by its graphics processors. Nvidia shares have […]
U.S. auto safety regulators said on Monday that they are investigating whether Ford Motor’s 2022 recall of nearly 49,000 Ford Mustang Mach-E electric vehicles adequately addressed concerns and whether it should be expanded to more vehicles. Ford issued the June 2022 recall because high voltage battery main contactors may overheat from DC fast-charging and repeated wide-open pedal events, […]
PayPal’s stablecoin is likely to succeed where Facebook’s failed, thanks to the payment giant’s standing in Washington and policymakers’ greater understanding of the issues in the last three years. PayPal this month said it was launching PayPal USD, a crypto token pegged to the U.S. dollar, making it the second major global company to launch a […]
Johnson & Johnson said on Monday it was expecting to retain a stake of about 9.5% in its newly separated consumer health unit, Kenvue, after completing a share exchange offer. Shares of the consumer health company rose 1.4% in premarket trading. J&J launched the exchange offer last month under which its stockholders could opt for shares of the […]
Goldman Sachs is weighing the sale of a part of its wealth business, it said on Monday, as it shifts its focus back to serving the ultra-rich and away from high-net-worth clients in mass markets. The Wall Street bank is evaluating alternatives for its registered investment adviser (RIA) unit, called Personal Financial Management (PFM), which manages […]
