Glossary Business & Economy
Antitrust
Competition law: the rules preventing firms from abusing market dominance or merging their way out of competition. Called competition law outside the United States.
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DeFi
Decentralised finance: lending, trading and derivatives run by smart contracts rather than by a bank or…
Large language model
A model trained on vast amounts of text to predict what comes next, which turns out…
Yield
The income an investment returns, expressed as a percentage of its price. Bond yields move inversely…
Referendum
A direct public vote on a single question. Whether the result binds the government depends on…