Author: Admin

Abstract The role of ability (a cognitive trait) and patience (a non-cognitive trait) for life outcomes, such as education, is well documented. Similarly, the impact of credit constraints on education decisions is the subject of a vast literature. I take stock of these strands of the literature and ask: how do patience and ability interact with a credit constraint in determining college attainment? I analyze a stylized model of the college decision where individuals are differentiated by their ability and their patience, which is represented by their discount factor. I introduce two different features in the model: either a non-pecuniary…

Diageo’s new chief executive has unveiled plans to nearly double Guinness production while hacking back a “significant” proportion of its 30,000-strong workforce, in a strategic overhaul worthy of his nickname, “Drastic” Dave Lewis.Shares in Diageo bounced on Thursday, as the former Tesco boss faced down the first big test of his initial half-year in the job, after being parachuted in last November to revive the flagging fortunes of the UK-based drinks company.Speaking after the company announced a decline in sales but slightly better-than-expected operating profit, Lewis said his turnaround plan would involve job cuts, adding that the “consequences of that…

Central bank often have an array of macro-prudential tools that they are legally able to use, but some are proving difficult to put into action due to shortages of data.Many of the participants in Central Banking’s latest interbank working group said they were grappling with data issues. A common theme across the two sessions was that while central banks typically have reasonably good data on the lenders they oversee, detailed data on borrowers is harder to come by in many jurisdictions.This Only users who have a paid subscription or are part of a corporate subscription are able to print or…

According to the complaint, Allman appointed herself to the board, adopted an interim policy allowing ordinary business operations to continue, reaffirmed De Bode as president and requested basic corporate information, including a shareholder list, while expressing a desire to work collaboratively.The estate said those efforts failed after De Bode and the company’s outside counsel refused to recognize her actions or provide the requested corporate records. Kathleen Allman subsequently expanded the board, appointed new directors and, at a July 24 board meeting, voted to remove De Bode from all company positions while appointing herself chair and interim CEO.The filings characterize Kathleen…

SpaceX employees celebrate the market close of the SpaceX initial public offering (IPO) at the Nasdaq Marketsite on June 12, 2026, in New York City.Spencer Platt | Getty ImagesSpaceX believers are trying a new approach in the options market.Up until now, options flows were largely dominated by out-of-the-money call-buying, but the most popular directional trade on Thursday – albeit by a small margin – was selling puts. Of the $600 million in premium traded by midday, $316 million was in puts, with $166 million likely tied to sales of puts, SpotGamma data show. It’s a bullish view, but more about…

Check out the companies making headlines after hours. Airbnb — Shares of the vacation rental company surged about 7% after Airbnb posted second quarter earnings of $1.37 per share on revenues of $3.61 billion. That outpaced the earnings of $1.25 on revenues of $3.58 billion forecasted by analysts, according to LSEG. Lyft — The ride-hailing company was marginally higher after posting second quarter revenues of $1.84 billion, beating the LSEG consensus estimate of $1.81 billion. Earnings of 13 cents per share, however, missed the 14 cents anticipated by analysts. DraftKings — Shares were down over 1.5% after the company fell…

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September WTI crude oil (CLU26) closed up +2.07 (+2.75%) on Thursday, and September RBOB gasoline (RBU26) closed up +0.0997 (+3.51%).Crude oil and gasoline prices settled sharply higher on Thursday amid uncertainty regarding a proposed plan by Iran and Oman to reopen the Strait of Hormuz.  Also, a reported missile attack on a Saudi oil tanker by Houthi rebels gave crude oil prices a boost.  Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.   Crude prices raced to their highs on Thursday after Iran’s semi-official Fars news agency reported that vessels belonging…

“Toy Story 5,” “The Super Mario Galaxy Movie” and “Spider-Man Brand New Day.”Disney | Universal Pictures | SonyBillion-dollar films are back in Hollywood.The theatrical industry welcomed its fourth billion-dollar film of 2026 this week as Sony and Marvel’s “Spider-Man: Brand New Day” surpassed the coveted benchmark. It joins the three-comma ranks alongside Universal’s “The Super Mario Galaxy Movie,” Lionsgate’s “Michael” and Disney and Pixar’s “Toy Story 5.” The group should soon be joined by Universal’s “The Odyssey,” which has tallied $912 million globally through Sunday and is set to play in theaters through at least mid-September.Box office analysts expect Warner…

Researchers at the Bank for International Settlements have stressed the importance of anchoring inflation expectations and hinted that some central banks may be reacting too slowly to the most significant energy shock in decades.Ryan Niladri Banerjee, Fiorella De Fiore, Marco Jacopo Lombardi and Giovanni Lombardo analyse the challenges of energy shocks and inflation for monetary policy in a bulletin article published today (August 5).“Anchoring inflation expectations is critical,” the Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.To access these options, along with all other subscription benefits, please…