Let $A$ be a complex, commutative unital Banach algebra. We introduce two notions of exponential reducibility of Banach algebra tuples and present an analogue to the Corach-Suárez result on the connection between reducibility in $A$ and in $C(M(A))$ . Our methods are of an analytical nature. Necessary and sufficient geometric/topological conditions are given for reducibility (respectively reducibility to the principal component of $U_{n}(A)$ ) whenever the spectrum of $A$ is homeomorphic to a subset of $\mathbb{C}^{n}$ .

The estimation of large covariance and precision matrices is fundamental in modern multivariate analysis. However, problems arise from the statistical analysis of large panel economic and financial data. The covariance matrix reveals marginal correlations between variables, while the precision matrix encodes conditional correlations between pairs of variables given the remaining variables. In this paper, we provide a selective review of several recent developments on the estimation of large covariance and precision matrices. We focus on two general approaches: a rankbased method and a factormodelbased method. Theories and applications of both approaches are presented. These methods are expected to be widely applicable to the analysis of economic and financial data.

For an odd prime p, we prove the p-part of the Birch and Swinnerton-Dyer formula for semistable elliptic curves of analytic rank one.

We give a proof of the parabolic/singular Koszul duality for the category O of affine Kac–Moodyalgebras. The main new tool is a relation between moment graphs and finite codimensional affine Schubert varieties. We apply this duality to q-Schur algebras and to cyclotomic rational double affine Heckealgebras.This yields a proof of a conjecture of Chuang–Miyachi relating the level-rank duality with the Ringel–Koszul duality of cyclotomic rational double affine Hecke algebras.

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