An unmissable book for every year of your early life – with recommendations from Jacqueline Wilson, Michael Rosen, Katherine Rundell and more The news about reading in general, and childhood reading in particular, is not good. Last year a National Literacy Trust survey of more than 100,000 young people between the ages of 11 and 18 discovered that the number of children who read for pleasure is th...
An unmissable book for every year of your early life – with recommendations from Jacqueline Wilson, Michael Rosen, Katherine Rundell and more The news about reading in general, and childhood reading in particular, is not good. Last year a National Literacy Trust survey of more than 100,000 young people between the ages of 11 and 18 discovered that the number of children who read for pleasure is the lowest since records of this sort began. Only about a third of children say they actively enjoy reading, and the number who report reading daily in their free time is has halved over the last two decades. It’s down to less than one in five. Whether we blame this on screens, social media, or on a renewed enthusiasm for healthy outdoor activities, the facts are clear. Children are reading less, taking less pleasure in doing so, and there’s already talk of the dawning of a “post-literate age”. Yet books make available the best, wisest and most beautiful things that humankind has conceived, and children’s literature offers a host of classics, old and new, to be introduced to new generations of readers. Continue reading...
Britain’s standing in the world was never the same after its assault on Egypt in 1956. Now the US risks repeating history in the Middle East Middle East crisis – live updates Donald Trump’s addiction to framing every event in the most apocalyptic terms is what allows conservative commentators such as Mark Levin to praise him as “a once-in-a-century president”. But Trump cannot play out his entire ...
Britain’s standing in the world was never the same after its assault on Egypt in 1956. Now the US risks repeating history in the Middle East Middle East crisis – live updates Donald Trump’s addiction to framing every event in the most apocalyptic terms is what allows conservative commentators such as Mark Levin to praise him as “a once-in-a-century president”. But Trump cannot play out his entire presidency on a reckless high wire without eventually falling off – potentially taking America with him into a steep decline into the unknown. Continue reading...
“I can’t wait to watch the game – it’s Lion’s Head Meatballs versus Hairy Crab!” Liu Jieling, a 42-year-old company executive from Suzhou, joked about a derby clash pitting a side inspired by her city’s signature crustacean cuisine against one by Yangzhou’s steamed meatballs. The 2026 season of the Jiangsu City Football League – popularly known as the Su Super League – kicks off on Saturday, and t...
“I can’t wait to watch the game – it’s Lion’s Head Meatballs versus Hairy Crab!” Liu Jieling, a 42-year-old company executive from Suzhou, joked about a derby clash pitting a side inspired by her city’s signature crustacean cuisine against one by Yangzhou’s steamed meatballs. The 2026 season of the Jiangsu City Football League – popularly known as the Su Super League – kicks off on Saturday, and the amateur tournament in Jiangsu, a province in eastern China, is already generating huge buzz...
China’s top intelligence agency has warned university students to be wary of lucrative job postings that may serve as covers for foreign espionage, as they begin searching for work ahead of a record graduation season. Offers such as earning 800 yuan (US$117) a day for remote data processing or research projects promising easy money could be “traps” to recruit students to illegally collect sensitiv...
China’s top intelligence agency has warned university students to be wary of lucrative job postings that may serve as covers for foreign espionage, as they begin searching for work ahead of a record graduation season. Offers such as earning 800 yuan (US$117) a day for remote data processing or research projects promising easy money could be “traps” to recruit students to illegally collect sensitive information for foreign intelligence agencies, the Ministry of State Security said. “Be wary of...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter Stocks have gone up over the years because corporate earnings continue to grow. That part is straightforward. But in addition to rising stock prices, we've also seen rising stock market valuations. For years, investors have talked about stocks being unreasonably priced, and yet ...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter Stocks have gone up over the years because corporate earnings continue to grow. That part is straightforward. But in addition to rising stock prices, we've also seen rising stock market valuations. For years, investors have talked about stocks being unreasonably priced, and yet they haven't reverted to historical norms. But perhaps there's a good explanation for this, beyond just animal spirits. Jonathan Heathcote is an economist at the Minneapolis Federal Reserve Bank, who recently co-authored a paper titled, A Macroeconomic Perspective on Stock Market Valuation Ratios . Along with co-authors Andrew Atkeson and Fabrizio Perri, they argue that while stocks may look rich on metrics like price-to-earnings ratios, they look a lot better when based on free cash flow. In other words, because companies haven't had to invest much, their equity is more valuable. Furthermore, labor's share of the profits — the percentage that goes to workers relative to capital — has been on the decline. Of course, these days the big story is about how big, profitable tech companies are spending a fortune on capital expenditure for the AI buildout. So we talked to Jonathan about his research and discuss the possibility that this trend in free cash flow growth could reverse, and therefore hit stock market valuations, too.
Stocks have gone up over the years because corporate earnings continue to grow. That part is straightforward. But in addition to rising stock prices, we’ve also seen rising stock market valuations. For years, investors have talked about stocks being unreasonably priced, and yet they haven’t reverted to historical norms. But perhaps there’s a good explanation for this, beyond just animal spirits. J...
Stocks have gone up over the years because corporate earnings continue to grow. That part is straightforward. But in addition to rising stock prices, we’ve also seen rising stock market valuations. For years, investors have talked about stocks being unreasonably priced, and yet they haven’t reverted to historical norms. But perhaps there’s a good explanation for this, beyond just animal spirits. Jonathan Heathcote is an economist at the Minneapolis Federal Reserve Bank, who recently co-authored