United States

US broadband map

FT analysis of new Census Bureau data shows the scale of the task facing the Obama administration Read more >>

by Gavin Jackson and Keith Fray

On Tuesday the International Monetary Fund released its latest World Economic Outlook. A striking new finding emerges: the seven largest emerging markets are now bigger, in gross domestic product terms, than the long established G7 group of industrialised nations, when measured at purchasing power parity (PPP). Read more >>

Martin Stabe

Banks have paid more than $100bn in legal settlements with US regulators since the financial crisis, data compiled by FT reporters shows.

Update, August 7: Bank of America’s $16bn settlement over allegations of misselling mortgage-backed securities brings the total for the first eight months of 2014 to more than $50bn, exceeding the total collected in the whole of 2013. Read more >>

Emily Cadman

After five years of historically low interest rates across the US, UK and eurozone, Wednesday’s vastly improved job forecast from the Bank of England raised the prospect of a return to more normal monetary policy.

A report out today from McKinsey attempts to quantify the impact of years of ultra lose monetary policy has been on the winners – and losers. Whilst there are few surprises in the report, it does attempt to put numbers on the winners and losers.

Unsurprisingly, it is governments that come out on top. The consultancy estimates that between 2007 and 2012 the US, UK and eurozone governments collectively benefited to the tune of $1.6tr from lower borrowing costs and the increased profits from central banks.

For consumers though it is a mixed bag. Read more >>

Chinatowns gif

Gentrification and commercial developments are breaking up Chinatowns in US and British cities, squeezing Chinese communities out of the vibrant neighbourhoods that grew up around earlier generations of migrants.

The changing demographics of New York City further highlight this pattern, with Asian communities having sprung up in Flushing and Queens, where they were traditionally focused in Lower Manhattan.

The animated maps above show decadal changes in the spread of localised Chinese and Asian communities in London, New York and San Francisco, created using data from the 2001 and 2011 editions of the UK census and the US censuses of 2000 and 2010. Read more >>

The rise in US food prices accelerated in September and has continued into October, according to a detailed study of retail prices – though the US federal government shutdown has robbed financial markets of any official measures of the state of the economy.

These unofficial inflation figures, from a US start-up called Premise, highlight the growing use of massive data collection and analysis – known as “big data” – to supplement and in some cases replace official economic statistics.

 Read more >>