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Finance

A devastating blow to women’s rights in America

The decision had been a likelihood for years and an open secret since a Supreme Court leak in May. It is no less cruel a disaster for that. Six conservative justices, against three dissenting liberals, have ended the national right to abortion in the US. Dobbs vs Jackson Women’s Health Organization will replace Roe vs […]

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Finance

Russia’s gas squeeze: a moment of truth for Europe

Russia is tightening its natural gas squeeze on Europe. Moscow has cut capacity through the main pipeline to Germany by 60 per cent since last week, claiming EU sanctions have caused maintenance problems — but has failed to step up supplies via other routes. Many capitals believe the Kremlin is using energy to exert pressure […]

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Finance

Showdown on Britain’s railways portends a summer of strife

The National Union of Rail, Maritime and Transport Workers is nowhere near being one of the UK’s biggest trade unions. But this week the RMT, as it is known, aims to show that it is all muscle. Strikes by 40,000 of its members largely shut down Britain’s railways on Tuesday and are set to do […]

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Finance

The global economy is not going to be calmer any time soon

The world economy is racked by inflation and struggling with growth. But the situation is perhaps best summed up by one datapoint: the number and variety of policy changes announced by central banks around the world this week. The Federal Reserve made the punchiest move. Its officials now expect core inflation — a measure that […]

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Finance

The new Gulf oil boom poses dilemmas for the west

In his State of the Union address days after Vladimir Putin’s forces invaded Ukraine, President Joe Biden listed measures the US was taking to punish Russia in a “battle between democracy and autocracy”. Yet as the west has sought to isolate one autocrat, it has been forced to seek help from others: Saudi Arabia and […]

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Finance

This is no time for western resolve to ebb over Ukraine

The mood in Kyiv is darkening. The euphoria of a few weeks ago when Russian forces seemed on the retreat has turned to unease over what has become a punishing war of attrition in east Ukraine. A note of disquiet has crept into the speeches of the indefatigable president Volodymyr Zelenskyy that western support could […]

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Finance

US business should battle for soul of the Republican party

The televised hearing of the committee investigating the January 6 2021 attack on the US Capitol had some surprises. One was a clip of Ivanka Trump saying she accepted the conclusion of her father’s attorney-general William Barr that the 2020 election had not been stolen from him; another was Barr saying he told the president […]

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Finance

The US’s lack of ambition risks losing Latin America

The United States this week hosts a summit of leaders from across the Americas for the first time in 28 years. What should be a golden opportunity for Washington to show leadership risks instead highlighting the decline of US influence close to home. The president of Mexico, the most important US ally and its biggest […]

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Finance

The ECB embraces its responsibility to keep the euro together

As the European Central Bank drops ever-heavier hints of new policy tools to limit the disparity in borrowing costs between more and less creditworthy members of the eurozone, it demonstrates the unique difficulties of a multi-country currency union at a time when monetary policy is already challenging central banks everywhere. A series of global negative […]

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Finance

Russian asset seizures must follow the law

There is logic and a certain poetic justice to the idea of using frozen Russian assets to fund the reconstruction of Ukraine. Russian forces have done tens of billions of dollars’ worth of damage in an unprovoked attack on their neighbouring country, and perpetrated atrocities against Ukrainians. The moral case for ensuring the “aggressor pays” […]