NEWSLETTER of January 23, 2026

The following content has been added at finexpert:

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)
IWH-INSOLVENZTREND: FIRMENPLEITEN 2025 AUF HÖCHSTEM STAND SEIT ZWEI JAHRZEHNTEN
As the Leibniz Institute for Economic Research Halle (IWH) notes in an analysis published today, the number of insolvencies among partnerships and corporations in Germany rose significantly again in December. In 2025 as a whole, there were more corporate bankruptcies than in any year in the last 20 years. >more

World Economic Forum
GLOBAL RISKS REPORT 2026
The Global Risks Report 2026, the 21st edition of this annual report, marks the second half of a turbulent decade. The report analyses global risks through three timeframes to support decision-makers in balancing current crises and longer-term priorities. Chapter 1 presents the findings of this year’s Global Risks Perception Survey (GRPS), which captures insights from over 1,300 experts worldwide. It explores risks in the current or immediate term (in 2026), the short-to-medium term (to 2028) and in the long term (to 2036). Chapter 2 explores the range of implications of these risks and their interconnections, through six in-depth analyses of selected themes. Below are the key findings of the report, in which we compare the risk outlooks across the three-time horizons. >more

Deutsche Bank Research
DEUTSCHLANDFONDS – A BOOSTER FOR PRIVATE INVESTMENT
The recently launched Deutschlandfonds is a flagship project of the government to mobilise private investment in targeted sectors. The government will provide around EUR 30 bn, mostly in the form of guarantees, with a goal of stimulating total investments of around EUR 130 bn. The fund brings together existing and new investment promotion programmes that cater to startups, manufacturing companies, and the utility sector. It is a welcome booster for private investment and will help to close existing financing gaps. Nevertheless, structural reforms remain key to reinvigorate investments across all industries. >more

World Economic Forum
CHIEF ECONOMISTS' OUTLOOK: JANUARY 2026
The January 2026 Chief Economists’ Outlook opens on a cautiously brighter note than last year. Drawing on consultations and survey responses from the World Economic Forum’s Community of Chief Economists, the report examines near-term economic prospects alongside deeper structural shifts shaping growth, policy and investment. While views for the year ahead remain tilted towards the negative, they have improved compared to late 2025. Amid stretched asset valuations, rising public debt and geopolitical tensions, uncertainty remains elevated. >more

CAUGHT IN THE ACT: HOW CORPORATE SCANDALS HURT EMPLOYEES 
Salil Gadgil, and Jason Sockin
2025
We study how corporate scandals affect workers. Following the revelation of misconduct, employee sentiment decreases sharply and persistently, driven by diminished perceptions of firm culture and senior management. Workers receive no compensation to offset the declines in job satisfaction. In fact, while base wages and fringe benefits remain unchanged, workers are 6 percentage points less likely to receive variable pay and those that do experience an average decline of 10 percent. Our results demonstrate that rank-and-file employees are not insulated from the effects of organizational wrongdoing and that variable-pay earners are particularly exposed to firm-level shocks. >more

PERSONAL FINANCIAL ADVICE AND PORTFOLIO QUALITY
Olga Balakina, Claes Bäckman, Andreas Hackethal, Tobin Hanspal, and Dominique Lammer
2025
We document widespread use of personal financial advice among retail investors. Individuals seek competent and trusted sources for financial advice among their family and friends. Investors who provide advice to family and friends are positively selected and emphasize the reputational costs of giving risky financial advice. While previous studies have shown that advice shared on social media promotes active trading, we show that personal financial advice encourages investing in funds over single stocks. Our evidence complements the existing literature on financial advice in online social networks by highlighting differences in incentives and outcomes of advice to close personal connections. >more