We are approaching the 250th anniversary of the United States’ Declaration of Independence on July 4th, 1776. However, that same year carries a different meaning in Latin America. Rather than the beginning of a system based on limits to power and individual freedom in the United States, 1776 represented a major turning point in the…
So the UK is set to have its 7th Prime Minister in ten years. In this time, it is no co-incidence we have seen a continued stagnation in living standards. At the root of the problem is a decline in productivity growth; the years of growth are over. Every prime minister had a plan for…
Photo: Shutterstock The review of the UK civil service will focus on strengthening delivery, accountability, innovation and productivity and will inform related reforms The terms of a wide-ranging review of how to create the vision for the future of the UK civil service as a world class institution has been set out by government. The…
Missed payroll expectations and revised April and May numbers put the Fed in a tough spot for rate cuts. June’s employment numbers showed almost no change from the previous month, as the Bureau of Labor Statistics reported a 4.2% unemployment rate and an estimated 57,000 nonfarm payroll jobs, roughly half the 115,000 economists expected. At…
The deal “validates” the crypto-mining company’s pivot to supporting the AI buildout, its CEO said.
The more we use AI, the more sceptical we are becoming. In 2025, there was excitement about AI, but that is now falling. In 2026, AI is more likely to make us angry and anxious. Yet, whether we like it or not, AI is becoming pervasive. Workers who don’t use AI are more likely to…
Cloudflare (NET +2.71%) could become a key toll road for the internet as AI agents drive more traffic across the web. Pay Per Crawl gives the company a fascinating new revenue angle, but valuation, competition, and insider selling make the stock a much harder call. *Stock prices used were the market prices of June 27,…
This paper shows that the currency in which traded goods are invoiced has a first-order implication for the short-run impact of tariffs on the economy. If prices are set in terms of producer’s currency (PCP), a unilateral tariff is contractionary on impact, reducing GDP, and causing a deterioration in the trade balance. By contrast, with…
It’s not good for China, US or Europe If everything seems to be made in China these days, it’s probably because it is. China manufacturers roughly the same amount of goods as the US, Japan, and Germany combined. European consumers are currently benefitting from cheap solar panels, electric cars and electronics. But, it comes at…
Interview with Christine Lagarde, President of the ECB, conducted by Guillaume Benoit and Christophe Jakubyszyn on 24 June 2026 2 July 2026 On 11 June, the ECB raised its key interest rates. Do you still think that was the right decision, given that just ten days later Iran and the United States agreed a 60-day…