UBS fined $125mn over lax money laundering controls
Swiss bank failed to implement adequate curbs despite previous sanction by US regulators
What Are Companies Getting for All That A.I. Spending?
A new field of “tokenomics” has emerged to measure the return on all the money companies are pouring into artificial intelligence.
Kyrgyzstan’s Dordoi Bazaar: a world made from shipping containers and a city within a city
When I left Ainura’s container-shop at the Dordoi Bazaar in Bishkek, the capital of Kyrgyzstan, I found the market eerily quiet. I had not noticed the passing of time, while she generously shared her life story with me.
Walking towards the mini-bus stop at the square in front of the bazaar, the echo of her words mixed with the end-of-day soundscape at Dordoi: the heavy slam of container-shops’ metal doors and the resonant clang of heavy padlocks clicking into place.
Trump administration is withholding more than $1B in Medicaid funds from California and Minnesota, in latest example of weaponizing real and imagined fraud
Federal agents execute a search in December 2025 tied to potential Medicaid fraud in Bloomington, Minn.
Detroit has a shortage of national retailers. What can officials do to attract more chains to the city?
High property taxes in Detroit deter national retailers from opening stores in the city. Sylvia Jarrus for The Washington Post via Getty ImagesDetroit’s borders encompass 139 square miles, a footprint large enough to fit Manhattan, Boston and San Francisco combined.
Detroit has a shortage of national retailers. What can officials do to attract more chains to the city?
High property taxes in Detroit deter national retailers from opening stores in the city. Sylvia Jarrus for The Washington Post via Getty ImagesDetroit’s borders encompass 139 square miles, a footprint large enough to fit Manhattan, Boston and San Francisco combined.
Feeling the heat unevenly: energy prices and household consumption
This box examines the mechanisms behind the aggregate and distributional effects of energy price shocks on euro area households, taking its cue from the recent surge in energy prices following the outbreak of the war in the Middle East. Drawing on a quantitative heterogeneous agent New Keynesian model calibrated to the euro area, it shows that energy price shocks reduce aggregate consumption through real income losses.
The transmission of shocks across sectors and the dynamics of sectoral prices
This paper studies the dynamics of U.S. sectoral producer prices in a large Bayesian Vector Auto Regression (BVAR) model where the Input-Output (IO) matrix is used to structure their long-run relationships. The model provides evidence of a sectoral spillover channel in driving headline inflation without imposing such a mechanism in the model’s structure.
Appointment of Chair and Deputy Chair of the Enforcement Decision Making Committee (EDMC)
Following an external recruitment process, the Bank of England (the Bank) has appointed Nicholas Segal as Chair of its Enforcement Decision Making Committee (EDMC), and Peter King as Deputy Chair, with effect from 1 August 2026.
Manufacturing conditions continued to improve in July, despite cost pressures
Greece’s manufacturing PMI rose to 54.3 points in July, from 53.8 points in the previous month, S&P Global data showed on Wednesday.
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