The Perils of Bilateral Sovereign Debt

Tesla (TSLA -2.14%) shareholders had a rough Thursday. Shares of the electric car maker sank about 15% following the company’s second-quarter report, closing at $319.69 — near the bottom of a 52-week range that runs from $297.82 to $498.83. But Wall Street barely budged. The average analyst price target on the stock sits near $412…

Trump unveils new tariffs designed to survive legal challenge, WSJ reports !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}

July final consumer confidence -15.9 vs -15.9 prelim Prior -17.6 July economic confidence 96.9 vs 96.0 expected Prior 95.0; revised to 95.4 July services confidence 4.7 vs 3.8 expected Prior 3.2; revised to 4.2 July industrial confidence -6.1 vs -7.0 expected Prior -7.7; revised to -7.5 This points to a continued recovery in euro area…

Google has backed Germany-based Proxima Fusion, which is looking to build Europe’s first commercial fusion power plant, in a 411 million euros ($468 million) round, the company announced on Tuesday. Nuclear fusion is the process of combining two hydrogen atoms to form one helium atom, releasing huge amounts of energy. While it promises an abundance…

Union growth has historically happened in spurts. We combine union election data from 1961–2025 with a large-scale information experiment involving 9,000 low-wage workers to study the role of social learning in union growth. Observationally, close election wins cause future wins within state-industries. Experimentally, information about recent union wins increases union support and beliefs about co-worker…