Good morning . Israel and Lebanon are taking a step toward peace. In the UK, officials are eyeing ordinary savers’ £2 trillion of bank deposits as a potential source of funding for government debt. And the AI boom is minting more millionaires. Listen to the day’s top stories . — Abhishek Shanker Market Snapshot S&P 500 futures 7,543.00 -0.4% WTI crude oil futures $95.36 -0.7% Euro $1.16 +0.1% Spot...
Good morning . Israel and Lebanon are taking a step toward peace. In the UK, officials are eyeing ordinary savers’ £2 trillion of bank deposits as a potential source of funding for government debt. And the AI boom is minting more millionaires. Listen to the day’s top stories . — Abhishek Shanker Market Snapshot S&P 500 futures 7,543.00 -0.4% WTI crude oil futures $95.36 -0.7% Euro $1.16 +0.1% Spot gold $4,474.44 +0.9% Market data as of 02:03 AM ET. Data is subject to provider delays. Israel and Lebanon agreed to a ceasefire contingent on Hezbollah ending hostilities and withdrawing fighters from south of the Litani River, according to the US. The countries “have no hostile intent toward one another” and committed to direct negotiations to resolve outstanding issues and reach a broader agreement, the White House said in a statement. The news helped push oil prices lower . Stocks pulled back from record levels after a weak artificial intelligence chip sales forecast from Broadcom dented momentum in the AI trade. Broadcom sees AI revenue of $16 billion for the current quarter, below Wall Street expectations, sending shares lower in extended trading. Check out our Markets Today live blog for all the latest news and analysis relevant to UK assets. Meanwhile, SpaceX announced plans to raise $75 billion by selling 555.6 million shares at $135 apiece. President Vladimir Putin is increasingly turning Russia’s push for technological sovereignty into a family affair . His younger daughter Katerina Tikhonova and Ksenia Shoigu, daughter of Security Council chief Sergei Shoigu, are playing prominent roles in efforts to boost domestic industries, AI, drones and critical minerals as Moscow seeks to reduce its reliance on foreign technology amid Western sanctions. Germany, the UK and France are said to be working on plans with Kyiv to engage Russia in negotiations to end the war as they see a shift in momentum strengthening President Volodymyr Zelenskyy’s position. Meanwhile, Ukrain...
Oman India Fertiliser Company, has announced a landmark IPO on the Muscat stock exchange, as it looks to capitalize on soaring prices and growing investor interest in the sector. The listing comes at a time when disruptions in the Strait of Hormuz is reshaping global fertilizer markets and raising concerns about food security. Ahmed Said Al-Marhoubi, CEO of OMIFCO spoke to Bloomberg’s Abeer Abu Om...
Oman India Fertiliser Company, has announced a landmark IPO on the Muscat stock exchange, as it looks to capitalize on soaring prices and growing investor interest in the sector. The listing comes at a time when disruptions in the Strait of Hormuz is reshaping global fertilizer markets and raising concerns about food security. Ahmed Said Al-Marhoubi, CEO of OMIFCO spoke to Bloomberg’s Abeer Abu Omar on Horizons Middle East and Africa about the timing of their listing. (Source: Bloomberg)
Some will question its credibility. But the alternative future to the one imagined in the World Justice Report is far more bleak • Academics set out sweeping vision for planetary survival In our increasingly dystopian world, who wouldn’t want to at least be open to a utopian antidote? The World Justice Report, published on Thursday, outlines how to build a prosperous, equitable world within safe p...
Some will question its credibility. But the alternative future to the one imagined in the World Justice Report is far more bleak • Academics set out sweeping vision for planetary survival In our increasingly dystopian world, who wouldn’t want to at least be open to a utopian antidote? The World Justice Report, published on Thursday, outlines how to build a prosperous, equitable world within safe planetary boundaries. It’s a push from the modern eco-socialist left in a global battle for ideas that will shape the future. Based on past social achievements and future energy transformation, it indicates that the overwhelming majority of people on the planet could, by the end of the century, work less and earn more while keeping temperatures down and avoiding much of the current destruction of nature. It is an ambitious, comprehensive and upbeat plan, and a stronger argument around which to build a political campaign than abstract goals of “net zero” or “decarbonisation”. Continue reading...
The Middle East business community is navigating a period of unprecedented uncertainty, as the Iran conflict disrupts supply chains, travel and investment flows across the region. Alain Bejjani, Author of NEXT: Leading Through the New Realities & former CEO of Majid Al Futtaim spoke to Bloomberg’s Abeer Abu Omar on Horizons Middle East and Africa on how businesses are adapting in the current envir...
The Middle East business community is navigating a period of unprecedented uncertainty, as the Iran conflict disrupts supply chains, travel and investment flows across the region. Alain Bejjani, Author of NEXT: Leading Through the New Realities & former CEO of Majid Al Futtaim spoke to Bloomberg’s Abeer Abu Omar on Horizons Middle East and Africa on how businesses are adapting in the current environment. (Source: Bloomberg)
Global report provides an alternative to climate breakdown, political extremism and economic tensions Humanity can raise living standards, reduce inequality and keep global heating within a 2C rise, according to a sweeping vision for planetary survival. The new report by the World Inequality Lab (WIL) aims to be the most comprehensive attempt yet to navigate the polycrisis that is pushing the worl...
Global report provides an alternative to climate breakdown, political extremism and economic tensions Humanity can raise living standards, reduce inequality and keep global heating within a 2C rise, according to a sweeping vision for planetary survival. The new report by the World Inequality Lab (WIL) aims to be the most comprehensive attempt yet to navigate the polycrisis that is pushing the world toward climate breakdown, political extremism and ever greater economic and social tension. Continue reading...
The South African is taking the hard route to releasing his first feature film, and is no fan of AI: ‘Someone once said that if your mum can do it, it doesn’t have value’ The new film This Is How the World Ends is a fine piece of work; the story of two siblings finding each other at a party held at humanity’s end, it is basically On the Beach set at Burning Man. However, what is really remarkable ...
The South African is taking the hard route to releasing his first feature film, and is no fan of AI: ‘Someone once said that if your mum can do it, it doesn’t have value’ The new film This Is How the World Ends is a fine piece of work; the story of two siblings finding each other at a party held at humanity’s end, it is basically On the Beach set at Burning Man. However, what is really remarkable about it is its method of release, as the first straight to VHS film in 20 years. In the early 2000s it was estimated 90% of British households owned a VCR – the last halcyon days of the format, before it was replaced by DVDs, and then Blu-ray, then streaming. In 2016, the world’s last VCR manufacturer Funai Electric ceased production. To release a film straight to video, in other words, is to make watching your film as difficult as possible. Continue reading...
Schapiro’s stunning images of jazz greats in New York – from Dizzy Gillespie to Elvin Jones – make up a new book featuring a foreword by late saxophone icon Rollins Continue reading...
Schapiro’s stunning images of jazz greats in New York – from Dizzy Gillespie to Elvin Jones – make up a new book featuring a foreword by late saxophone icon Rollins Continue reading...
A revelatory account of the life of George Forster, whose rejection of racial hierarchies stood out amongst his peers George Forster was 10 when he left his home in present-day Poland and travelled to Russia with his naturalist father. During the expedition, which began in 1765, Forster collected plant specimens and helped with botanical research. Wide-eyed, he journeyed along the Volga river, enc...
A revelatory account of the life of George Forster, whose rejection of racial hierarchies stood out amongst his peers George Forster was 10 when he left his home in present-day Poland and travelled to Russia with his naturalist father. During the expedition, which began in 1765, Forster collected plant specimens and helped with botanical research. Wide-eyed, he journeyed along the Volga river, encountering Muslim Tartar traders and Cossack warriors. There were also the emaciated figures of German settlers, who lived in poverty under the territory’s despotic governor, their campsites little more than holes burrowed into the riverbanks. The experience of cultures so distinct from his own stirred a lifelong enthusiasm for travel and exploration in Forster. It also awakened his compassion for others – irrespective of culture and, especially, race. At a time when racism pervaded public opinion as well as the philosophical texts of luminaries such as Jean-Jacques Rousseau and Immanuel Kant, Forster moved brazenly to critique and correct them. How he was able to transcend the conventional beliefs of his day is the central question of Andrea Wulf’s new book – and the answer is in its title. Continue reading...
Our plan is radical – but by transforming how we live on a finite planet, nearly everyone gains Imagine a future in which everyone enjoys high levels of wellbeing; where 90% of the world’s population doubles their income but works half the hours we work today. A world in which the bottom half of humanity sees its share of global wealth rise from just 2% today to 30%; a world where we consume enoug...
Our plan is radical – but by transforming how we live on a finite planet, nearly everyone gains Imagine a future in which everyone enjoys high levels of wellbeing; where 90% of the world’s population doubles their income but works half the hours we work today. A world in which the bottom half of humanity sees its share of global wealth rise from just 2% today to 30%; a world where we consume enough, but nobody over-consumes. And imagine achieving this on a planet that can comfortably sustain human life without its climate breaking down. Against the bleak techno-authoritarian futures now being sold to us, a radical new vision for global progress in the 21st century feels urgently needed. The most credible vision is one in which the habitability of the planet is a precondition for human development and equality. Continue reading...