business 
Some years ago, hundreds of German finance ministry staff dressed in black and formed a giant zero to salute their boss, Wolfgang Schäuble, as he left office. It was a tribute to Mr Schäuble’s extreme fiscal conservatism, which had delivered Germany’s first balanced budget in the postwar period. Amid resurgent prosperity in the Angela Merkel … Read more
The war between Russia and Ukraine is approaching a historic turning point: unless the Trump administration adjusts course, US military aid for Ukraine is about to cease. In the months before leaving office, Joe Biden made a series of decisions to augment Ukraine’s stockpiles of vital munitions. Toward the end of 2024, the Department of … Read more
North-west Italy is braced for heavy rainfall and thunderstorms across the southern side of the Alps, particularly in Piedmont and Liguria. Turin and Genoa are expected to be among the worst affected, with snowfall also likely on higher ground. The region has been forecast to receive 140-160mm of rainfall between Sunday and Friday this week. … Read more
Even by the warped standards of wartime, Russia’s Sunday morning attack on Sumy was astonishingly brazen. Two high-speed ballistic missiles, armed, Ukraine says, with cluster munitions, slammed into the heart of the border city in mid-morning as families went to church, waited for a theatre performance or were simply strolling about on a mild spring … Read more
The game-changing geopolitical event last week was the near collapse of the immense $29tn market in US government debt, threatening the stability of the American and global financial system and the safe-haven status of dollar assets. The US president boasted as the collapse unfolded that world leaders were queueing to “kiss his arse”. Twelve hours … Read more
Keir Starmer was back at the Emirates Stadium on Tuesday to watch Arsenal’s 3-0 win over Real Madrid, a result that far exceeded expectations of his team’s chances in Europe. And, over the next few days, I wouldn’t be surprised if he tries to snatch a short Easter break in the warmth and sunshine of … Read more
For me, visiting the now infamous Stedsans eco-retreat in Halland, southern Sweden was the apotheosis of the Scandinavian dream: apple-cheeked children running barefoot on the forest floor, a lake for swimming, a sauna to warm up in, simple cabins for sleeping and dinner served in the evening on a long table surrounded by trees. When … Read more
Having grown up in Banská Bystrica in totalitarian Czechoslovakia, I vividly remember standing in the city’s historic square a few days after 17 November 1989, the start of the Velvet Revolution, holding candles in solidarity with the students protesting in Prague. Never would I have imagined that 35 years later, I would be speaking at … Read more
My condolences to everyone who spent days trying to play 5D chess with Donald Trump’s market-exploding tariff mess. Where Trump is involved, there is a cloud of malevolent chaos, and there is grift amid the chaos. What grandmasters there are to be found are almost certainly grandmasters of grift. When markets dump $10tn in three … Read more
No more than a narrow window of opportunity remains if we are to prevent an unnecessary global recession. As China and the US decouple, disruptive trade wars are intensifying and threaten to descend into currency wars; import, export, investment and technology bans; and financial fire sales that will destroy millions of jobs worldwide. It seems … Read more