On September 16, 2008, the day after Lehman Brothers filed for bankruptcy, the Reserve Primary Fund “broke the buck”: Its net asset value fell below $1 per share. The fund — often called the first money-market fund — held $785 million of Lehman commercial paper that was suddenly worthless. Although the paper represented only 1.2% of the fund’s total assets ...

To revitalise US science and technology with more government spending, it’s time to go big or go home. Tragically, it seems that both Congress and the Biden administration have decided to go home. Economists have been shouting their heads off about the productivity slowdown for more than a decade. Since around 2005, total factor productivity — the ultimate driver of ...

Bloomberg Thailand’s government approved a set of economic stimulus measures worth 140 billion baht ($4.5 billion) to counter the impact from the nation’s biggest coronavirus outbreak yet. The measures — which include cash handouts to welfare-card holders and special groups, co-payments and cash rebates — are expected to be implemented from July, Anucha Burapachaisri, a government spokesman, said on Tuesday. ...