Paul J Davies

There are few benefits and many risks in tokenising equities

Credit and equity markets are still priced for something close to perfection from the current capex explosion

The changes now afoot will take banks back towards the world of ‘scarce’ reserves prevailing before 2008

Increasing use of AI likely to put even greater distance between the largest lenders and the rest of the pack

The bank’s dominance has generated two big problems – excess capital and a lofty stock valuation

Tailoring regulation to make life easier for small lenders, especially those heavily linked to venture capital and crypto, could be dangerous as the mini-banking crisis in March 2023 showed

The Swiss bank’s shares rose following the government’ announcement of its too-big-to-fail rules, probably because investors anticipate the final settlement will be much lower

Mega hedge funds are so critical to modern finance that they should be regulated more like lenders

The president’s chaotic policymaking has undermined hopes for a surge in deal flow

Cybercrime is a national security issue that should be taken as seriously as drug trafficking or terrorist financing