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A crude warning

12 March 2025
Oil prices have declined to their lowest level in three years. Adjusting for inflation makes the real decline all the greater. Iron ore prices are soft too. These could be warnings of global recession. Recent stock market weakness might only be the beginning.

A time for choosing

11 March 2025
Transatlantic disputes in trade and defence have escalated dramatically of late. Time is running out for Britain to find a way to leverage the “special relationship” with the US in a way that serves its national interest.