BHP, Port Hedland unions fail to reach wage deal; talks to resume on August 25

Prepared for the Annals of the American Academy of Political and Social Science. We thank Steven Durlauf, Wolfgang Keller, James Robinson, and participants at the “Whither Meritocracy?” conference and HKU economic history conference for helpful comments. Ying Bai acknowledges financial support from the University Grants Committee/Research Grants Council of the Hong Kong Special Administrative Region,…

The market should recover its poise within the next few days, says Fundstrat’s Tom Lee.

Shares of memory maker Sandisk (SNDK -14.14%) fell 10.8% on Friday, then another 11% on Monday, closing at $1,278.23. There was no company news behind either drop. Memory and artificial intelligence (AI) infrastructure stocks sold off as a group, and Sandisk, one of the biggest winners of the past year, fell harder than most. The…

Earnings inequality among college graduates has grown, and returns to a bachelor’s degree (BA) vary substantially across colleges. We experimentally evaluate a program that shifted high-achieving, low-income students into higher-quality colleges. Students randomly offered a guarantee of four years of tuition and fees at the University of Michigan were 21 percentage points more likely to…

Intel plans to sell $15 billion worth of stock after it has risen 400% in a year !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}