The European Central Bank and the national central banks of the European Union are questioning a key assumption behind Europe’s stablecoin regulation: that requiring issuers to keep a fixed portion of their reserves in bank deposits necessarily makes the system… Read More ›
Strategy
Refinery Disruptions Turn Diesel Into a Prolonged Global Supply Problem
The global diesel market is facing a supply problem that is becoming less about the availability of crude oil and more about the ability to convert, move and store refined fuel. Disruptions linked to the conflicts involving Iran and Russia… Read More ›
Saudi Pipeline Disruption Exposes Asia’s Crude Supply Vulnerability
The shutdown of Saudi Arabia’s East-West pipeline has exposed a weakness in Asia’s crude oil supply system that extends well beyond one damaged export route. The pipeline normally provides Saudi Arabia with an alternative path from its major eastern oil-producing… Read More ›
China’s Export Resilience Strengthens Xi’s Trade Leverage Over the US
China is approaching its latest meeting with the United States from a position shaped less by diplomatic symbolism than by the continued strength of its external trade. Despite years of tariffs, restrictions on technology and efforts by Washington and its… Read More ›
France’s Fiscal Strain Drives Bond Risk Premium to 2012 Highs
France’s bond market is increasingly reflecting a problem that has been building for years: the country has struggled to bring its public finances under control while the cost of servicing its debt has become more sensitive to higher interest rates…. Read More ›
Europe’s AI Dependence Creates a Growing Economic Vulnerability
Europe’s artificial intelligence challenge is no longer simply about whether its companies can produce competitive technology. The more immediate problem is that European businesses and public institutions are becoming increasingly dependent on computing infrastructure, cloud services and AI systems controlled… Read More ›
China Is Building Controls Before AI Gains Greater Autonomy
China is preparing for a future in which artificial intelligence systems can perform increasingly complex tasks with less direct human supervision. The concern is no longer limited to inaccurate answers, biased outputs or misuse by people. Chinese regulators and researchers… Read More ›
Himalayan Glacier Loss Is Turning Water Security Into a Livelihood Risk
The accelerating loss of Himalayan glaciers is changing the region’s water security risk from a distant environmental concern into a growing economic and livelihood problem. New assessments show that glaciers across the Hindu Kush Himalaya are losing ice at an… Read More ›
US Fed Chairman Kevin Warsh’s Inflation Focus Drives First Rate Hike
The US Federal Reserve is approaching a potentially important shift under Chairman Kevin Warsh, with stubborn inflation and renewed energy costs making an interest rate increase increasingly likely. The significance of the expected move extends beyond the quarter-point adjustment itself…. Read More ›
AI Disruption Fears Are Repricing the Software Business
The latest decline in the S&P 500 software sector is revealing a deeper change in how investors value traditional software companies in the artificial intelligence era. The immediate trigger was the release of OpenAI’s latest model, GPT-6 Astra, which revived… Read More ›