UK National Wealth Fund to prioritise direct investments over third-party funds
Infrastructure bank revises strategy to encourage private backing for projects including regional growth and clean energy
Go zone — New York is building, baby, building
A year on from new legislation, planning in the city is heading in a new direction — change has been fast and often controversial. But is change fast enough?
EU-Mercosur trade deal hangs in the balance
EU’s top trade official says bloc must not delay vote on pact with Argentina, Brazil, Paraguay and Uruguay
Trump’s Nvidia Chip Deal Reverses Decades of Technology Restrictions
President Trump’s decision to allow Nvidia to sell its chips to China has raised questions about whether he is prioritizing short-term economic gain over long-term American security interests.
Buy now, panic later is the new holiday ritual – stopping it won’t be easy
Olya Detry/ShutterstockThe holiday season brings celebration and gift-giving, but it also ushers in something less festive: financial stress. In the UK, retailers now shape much of the spending calendar, with Black Friday one of the busiest shopping events of the year.
FEDS Paper: LLM on a Budget: Active Knowledge Distillation for Efficient Classification of Large Text Corpora*
Viviana Luccioli, Rithika Iyengar, Ryan Panley, Flora Haberkorn, Xiaoyu Ge, Leland Crane, Nitish Sinha, and Seung Jung LeeLarge Language Models (LLMs) are highly accurate in classification tasks, however, substantial computational and financial costs hinder their large-scale deployment in dynamic environm
FEDS Paper: Rates of return on private and public businesses
Jesse Bricker, Kevin B. Moore, and Alice H. VolzPrivately owned business assets are an important source of wealth for families across the world, but measurement issues are believed to hamper our understanding of these firms.
FEDS Paper: Funds of Funds' Portfolio Rebalancing during the COVID-19 Crisis
Nathan Foley-Fisher and Jeongmin (Mina) LeeDuring the COVID-19 crisis, large outflows from bond mutual funds disrupted debt markets. We show that "funds of funds"-mutual funds that invest in other mutual funds-accounted for a third of those outflows in March 2020. They rebalanced their portfolios mechanically in response to equity market losses, selling bond funds and purchasing equity funds.
FEDS Paper: A Robust Risk Framework for Offline Payments
Bikash Poudel, Sarah Carey, Robert Flynn, Chakrapani Narayan, Richard Payne, Eshwar Satrasala, Seaira Spooney, and James LovejoyThe capability to make offline digital payments is emerging as a vital component of the broader payments ecosystem, especially in scenarios in which internet connectivity is unavailable such as during a crisis or natural disaster. Offline digital payment services offer a secure and reliable alternative to cash. Even so, there are a limited number of viable offline payment protocols in production today.
Christmas trees are more expensive than ever in Colorado — what gives?
All festive products are getting more expensive. d3sign/GettyImagesThe holiday season sparks a significant increase in consumer spending. This year, Black Friday alone saw consumers shell out a record US$11.8 billion.
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