SpaceX’s first-ever earnings report is a big deal — but not because of the numbers

Gas prices are rising again following a sharp escalation of the war in Iran. And as Americans look for ways to save money at the pump, many are turning to Costco’s gas stations for cheaper fuel. Demand for Costco’s gasoline reached record levels during the quarter ended May 10, though the company didn’t disclose sales…

General views of the TCL Chinese Theatre during opening weekend for the Christopher Nolan film, “The Odyssey” in Imax on July 18, 2026, in Hollywood, California. AaronP | Bauer-Griffin | Gc Images | Getty Images For Mike Rohlfing to see “The Odyssey” in theaters this week, the 39-year-old marketer set off on a hero’s journey…

This paper provides the first causal estimates of the global social returns to U.S. public R&D. We use a narrative identification strategy to quantify the effects of exogenous shocks to U.S. R&D appropriations on the dynamic TFP response of 69 foreign economies from 1980–2019. A U.S. R&D appropriations shock equal to 1 percent of the…

Wall Street is evolving into a winner-take-all contest.

21 July 2026 Mr Kisselevsky to take up role on 1 November 2026 The Executive Board of the European Central Bank (ECB) has appointed Boris Kisselevsky, currently Head of the ECB Representative Office in the House of the Euro in Brussels, as Director General Secretariat. Mr Kisselevsky will take up his new role on 1…

We thank Nick Barberis, Ray Fisman, Caroline Flammer, Xavier Gabaix, Janet Gao, Stefano Giglio, Niels Gormsen, Ben Hebert, Andy Howard, Philipp Krüger, Matt Levine, Hao Liang, Lubos Pastor, Jeff Pontiff, Adriano Rampini, Andrei Shleifer, Eric So, David Solomon, Amir Sufi, Luke Taylor, Neng Wang, Ayako Yasuda, as well as seminar participants at Alix Partners, American…