Prof Robert Shiller: a study has examined the S&P 500’s cyclically-adjusted price-earnings ratio, a widely-followed metric popularised by the Nobel economist.   Photograph: AP Photo/Jessica Hill

A record number of fund managers reckon global equities are overvalued, but they’re still loading up on stocks. Merrill Lynch’s latest monthly fund ma(...)

Future shock: The visions of a wildly prosperous future imagined in the 1950s and 1960s have failed to materialise

Less than two decades into the new millennium, humanity is building new technologies with seemingly limitless practical applications. Yet in The Rise(...)

The indication by the US Federal Reserve that it was considering a reduction in the rate at which it would expand its balance sheet had a dramatic effect on emerging economies

The most sobering lesson of the global financial crisis was that developments expected to increase resilience – the “originate and distribute” model o(...)

Under Janet Yellen, the committee built an internal consensus for changes. Photograph: Robert Galbraith/Reuters

andJanet L Yellen told friends in recent weeks that she did not expect to be nominated as the next chairman of the Federal Reserve. Although she had b(...)