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WSJ: “Hundreds of federal, state and local U.S. law-enforcement agencies have access without court oversight to a database of more than 150 million money transfers between people in the U.S. and in more than 20 countries, according to internal program documents and an investigation by Sen. Ron Wyden. The database, housed at a little-known nonprofit …
American Banker – Dev Patnaik: “I recently spent the best part of a weekend playing with ChatGPT, the AI-powered natural language tool that answers questions and responds to prompts in an unerringly human way. My conclusion? It signals the end of the financial services industry as we know it. That claim will be laughed off …
World Economic Forum: Cost of living dominates global risks in the next two years while climate action failure dominates the next decade. “As 2023 begins, the world is facing a set of risks that feel both wholly new and eerily familiar. We have seen a return of “older” risks – inflation, cost-of-living crises, trade wars, …
Center for Data Innovation: The Economist has created a visualization tracking productivity in the U.S. Congress. The visualization shows the number of major bills passed in every session of Congress from 1947 to 2023 as well as the party that held control over the House, Senate, and presidency during each session. In the visualization, bills …
“The United States International Trade Commission (USITC) today deployed the Investigations Database System (IDS), an innovative new data management tool that captures, manages, and displays USITC investigation-related information. Users are encouraged to visit the USITC website at https://ids.usitc.gov to explore this new tool. A major new feature is the ability to conduct quick searches and …
Center for Data Innovation: As businesses compete for customers in the digital economy, some use deceptive tactics to manipulate consumer reviews about their goods or services, or those of their competitors, including by posting fake reviews. These fake reviews can damage honest companies’ reputation and deceive consumers into purchasing goods or services of substandard quality. …
Science [no paywall for two weeks] – Assessing ExxonMobil’s global warming projections. G. Supran. https://orcid.org/0000-0002-3846-1633 , S. Rahmstorf. https://orcid.org/0000-0001-6786-7723, and N. OreskesAuthors Info & Affiliations Science 13 Jan 2023 Vol 379, Issue 6628 DOI: 10.1126/science.abk0063 “In 2015, investigative journalists discovered internal company memos indicating that Exxon oil company has known since the late 1970s that …
Missing Profits: “Researchers from the University of California, Berkeley and the University of Copenhagen estimate that close to 40% of multinational profits (close to $1 trillion in 2019) are shifted to tax havens each year. This shifting reduces corporate income tax revenue by more than $200 billion, or 10% of global corporate tax receipts. Explore …
Why Did Gender Wage Convergence in the United States Stall? – Peter Q. Blair, Harvard, Stanford, and NBER; Benjamin J. Posmanick, St. Bonaventure University. January 11, 2023 – “During the 1980s, the wage gap between white women and white men in the US declined by approximately 1 percentage point per year. In the decades since, …
NOAA – “The U.S. has sustained 341 weather and climate disasters since 1980 where overall damages/costs reached or exceeded $1 billion (including CPI adjustment to 2022). The total cost of these 341 events exceeds $2.475 trillion. In 2022, there were 18 weather/climate disaster events with losses exceeding $1 billion each to affect the United States. …
NBER – Too Many Managers: The Strategic Use of Titles to Avoid Overtime Payments – Lauren Cohen, Umit Gurun & N. Bugra Ozel Working Paper 30826. DOI 10.3386/w30826. Issue Date January 2023 – “We find widespread evidence of firms appearing to avoid paying overtime wages by exploiting a federal law that allows them to do …
What are Large Global Banks Doing About Climate Change? Daniel O. Beltran, Hannah Bensen, Amy Kvien, Erin McDevitt, Monica V. Sanz, and Pinar Uysal. January 2023 – We review the “climate action plans” of Global Systemically Important Banks (GSIBs) and the progress they are making toward achieving them. G-SIBs have identified the drivers of climate …
