This transcript has been lightly edited for clarity.Why does capital efficiency matter more than ever today? Ishaan Nangia: Capital efficiency matters more today than ever because of the confluence of three forces we’re seeing at play. The first is geopolitical uncertainty, driving huge cost increases and supply chain challenges. For example, some materials categories have grown in cost by 90 percent since 2020. If we look at skilled labor across…
On July 28, in Pretoria, South Africa, the Valdai Discussion Club in partnership with the South African Institute of International Affairs (SAIIA) will hold the 3rd Russian-African Conference titled: “Realpolitik in a Divided World: Rethinking Russia-South Africa Ties in a Global and African Context”. Programme of the 3rd Russia-Africa conference of the Valdai Discussion Club and the South African Institute of International Affairs “Realpolitik Responses in a Fractured World: Rethinking…
Quick Hits Oregon’s HB 2957 ensures that Bureau of Labor and Industries resolutions do not shorten the statute of limitations for employment lawsuits. HB 2957 prohibits employers from shortening the statute of limitations in agreements with employees. Many individuals file a charge with BOLI prior to filing suit in court. BOLI will investigate and issue either a finding of substantial evidence, a finding of no cause, or no finding at…
On 3 April 2024, a magnitude 7.4 quake—Taiwan’s strongest in 25 years—shook the country's eastern coast. Stringent building codes spared most structures, but mountainous and remote villages were devastated by landslides.When disasters affect large and inaccessible areas, responders often turn to satellite images to pinpoint affected areas and prioritise relief efforts. But mapping landslides from satellite imagery by eye can be time-intensive, said Lorenzo Nava, who is jointly based at Cambridge’s…
Researchers have conducted the world’s biggest ever bird survey, recording 971 different species living in forests and cattle pastures across the South American country of Colombia. This represents almost 10% of the world’s birds.They combined the results, gathered over a decade, with information on each species’ sensitivity to habitat conversion to find that the biodiversity loss caused by clearing rainforest for cattle pasture is on average 60% worse than previously…
Dilip Shanghvi established Sun Pharma more than 40 years ago, and since its founding, the Mumbai-based company has become the largest pharmaceutical company in India and is active in more than 100 countries across the globe. After four decades, Shanghvi has succeeded in developing the company by approaching bold risks in a calculated way, balancing resilience and innovation. But he hasn’t done it alone—Shanghvi has also prioritized building a collaborative…
I belong. I contribute. I have a future here. When frontline production workers are saying that, companies can rest assured they’re doing something right. Every employer in the production ecosystem should aspire to cultivate these sentiments. And it’s not just a matter of fuzzy feelings—companies thrive when their workers do, and vice versa. Amid today’s incredibly competitive market for frontline production talent, there’s little margin for error. Industry continues to…
Quick Hits On July 17, 2025, the California state auditor released a report identifying significant deficiencies in Cal/OSHA’s enforcement processes and staffing levels. The audit reviewed sixty case files from fiscal years 2019–20 through 2023–24 and found critical weaknesses in Cal/OSHA’s inspection and documentation practices. The report recommended that Cal/OSHA update its policies, improve inspection processes, enhance abatement verification, address staffing shortages, and modernize systems to better protect California’s workers.…
Compliance officers, risk officers and management at firms who meet the definition of “securities dealers” (including portfolio managers, exempt market dealers and CIRO members) take note: there has been a recent increase in the frequency and amount of administrative monetary penalties (AMPs) issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) relating to deficiencies identified during audits of compliance programs under the Proceeds of Crime (Money Laundering)…
This transcript has been lightly edited for clarity.Scott Woodruff: We're seeing a range of trends that are changing, and in some cases disrupting, the way companies develop and commercialize products. One trend is the influx of technology. Advances in AI and generative AI are really having an impact across the end-to-end development process, driving faster time to market and better product results. The second trend is packaging rising to the…
Federal finances are under pressure — and the pressure is increasing: The Federal Council recently had to admit that the procurement of the new F-35 fighter jets could cost up to 1,3 billion francs more than planned. At the same time, it further cut the planned savings package. As a result, deficits are looming again as early as 2028. There is little room for new spending. It’s the worst possible…
Founded in 1902, the British Academy is the UK’s national academy for the humanities and social sciences. It is a Fellowship consisting of over 1,800 world-leading scholars from the UK and overseas. In 2025, a total of 58 UK Fellows, 30 International Fellows and four Honorary Fellows have been elected to the British Academy Fellowship. The eight newly elected fellows and honorary fellow from Oxford are:Professor Peter Thonemann, Professor of Ancient…
Over the past year since the signing of the Treaty on Strategic Partnership between the DPRK and Russia in June 2024, it has become clear that while for Russia it resulted in direct practical results, for the DPRK the new alliance relations not only bring practical benefits, but have also become an important factor in acquiring a new identity on the world stage, Georgy Toloraya writes. Conjugation of foreign policy concepts…
Ontario’s Minister of Health has re-introduced legislation – Bill 11 or the More Convenient Care Act, 2025 – that received Royal Assent on June 5, 2025. This legislation amends several existing healthcare related statutes, as well as introduces new legislation, with a view to improving efficiency and transparency and increasing the public’s confidence in Ontario’s healthcare system. Among these legislative updates is the new Health Care Staffing Agency Reporting Act,…
On Nov. 9, 2023, the Honourable Seamus O’Regan, newly appointed Minister of Labour and Seniors (the “Minister”), tabled Bill C-58 – An Act to amend the Canada Labour Code and the Canada Industrial Relations Board Regulations, 2012. The bill, which received royal assent on Thursday, June 20, 2024, sets out strong measures to limit the use of replacement workers (or strike-breakers) by federally regulated employers. Provisions in force since June…
The Competition Bureau (the Bureau) recently issued its final guidelines on environmental benefits claims (Guidelines), hot on the heels of its Annual Plan for 2025-2026 which pledged continued efforts to combat misleading environmental benefits claims (greenwashing). The Guidelines respond to the recent amendments to the Competition Act, which now explicitly prohibits greenwashing. This timely release is particularly significant as it precedes a major shift in the enforcement landscape in Canada.…
In what is believed to be a first, the recent decision of the Ontario Superior Court of Justice in Hennebury v Makita Canada Inc, 2025 ONSC 3850 dismissed product liability claims, including allegations of failure to warn, based on the ultimate limitation period. Background In 2019, the plaintiff was using a router in his workshop, when allegedly the router sped up without warning, causing a stone grinding bit to break…
This transcript has been lightly edited for clarity.What are the most significant impacts of AI and gen AI on supply chain planning and execution? What can we learn from leaders who have successfully scaled these innovations? I think today we’re finally at a time when gen AI is more than just hype. I’ve seen this play out in the supply chain across industries, and there are three important use cases…
On July 3, 2025, the Autorité des marchés financiers (AMF) released a French-only draft guideline on the use of artificial intelligence in the financial sector (the Guideline). Applicable to authorized insurers, financial services cooperatives, authorized trust companies, and other authorized deposit-taking institutions, the Guideline sets out the AMF’s expectations regarding the measures financial institutions should take to holistically manage the risks associated with the use of artificial intelligence systems (AI systems)…
The US healthcare system has long been lauded for its innovation and high caliber of talent. But alongside these accomplishments are some major downfalls. Healthcare in the United States is expensive—for individuals and companies—and it’s only getting pricier. The healthcare system has relied on the same organizational structures and processes for treating patients for more than 100 years, even though the world has changed exponentially around it. And although innovative…
On July 18, the Moscow venue of the Valdai Club hosted a discussion titled “The Migration Crisis of Our Time: From A to Z”. Discussion moderator Oleg Barabanov called global migration one of the key trends for the development of the modern world, especially against the backdrop of climate change, adding that a mutually acceptable solution to issues related to it is of great importance both for the world as…
As chief people and sustainability officer for Xylem, a global water solutions provider, Claudia Toussaint has helped oversee an operating model transformation that is on track to meet its strategic goals. In an interview with McKinsey Senior Partner Brooke Weddle, Toussaint discusses how analytics and other tools—including tiny robots that can crawl through pipes to warn of potential water breaks—reflect the company’s sustainability principles and bring value to customers. Toussaint…
Quick Hits Employers can challenge OSHA’s findings through the administrative system and, if necessary, seek federal court intervention, though winning on appeal is difficult. Appeals from OSHRC decisions must be filed within sixty days in the appropriate U.S. court of appeals, with strict adherence to initial administrative procedures. Federal courts review OSHRC’s decisions with substantial deference, making it challenging for employers to overturn findings unless they are arbitrary, capricious, or…
This transcript has been lightly edited for clarity.Amid disruptions, where are the biggest opportunities for improvements in customer service? Services represent 60 percent of the $100 trillion global economy, and they are at a pivotal moment now. For service organizations to stay ahead, there are a few big opportunities they cannot miss. First is the realization that the era of incremental improvements is over. Service institutions have a unique opportunity…
At stake is Argentina’s ability to secure investment, technology transfers, and market access in an increasingly fragmented global system — where, as Brazil demonstrates, strategic autonomy need not mean choosing between East and West, writes Gonzalo Fiore Viani. The Russia-Brazil-Argentina triangle: Evolving dynamics in South America As the world transitions toward a multipolar order, Argentina faces a critical foreign policy dilemma: how to engage with Russia without alienating Western partners. While…
They are among 92 distinguished scholars to be elected to the fellowship in recognition of their work in fields ranging from medieval history to international relations.The Cambridge academics made Fellows of the Academy this year are: Professor Jeremy Adelman (Faculty of History; Global History Lab; Darwin College) Professor Anthony Bale (Faculty of English; Girton College) Professor Annabel Brett (Faculty of History; Gonville and Caius College) Professor Hasok Chang (Dept. of…
They are among 92 distinguished scholars to be elected to the fellowship in recognition of their work in fields ranging from medieval history to international relations.The Cambridge academics made Fellows of the Academy this year are: Professor Jeremy Adelman (Faculty of History; Global History Lab; Darwin College) Professor Anthony Bale (Faculty of English; Girton College) Professor Annabel Brett (Faculty of History; Gonville and Caius College) Professor Hasok Chang (Dept. of…
Sleep may not just be rest for the mind - it may be essential maintenance for the body’s power supply. A new study by University of Oxford researchers, published in Nature, reveals that the pressure to sleep arises from a build-up of electrical stress in the tiny energy generators inside brain cells.The discovery offers a physical explanation for the biological drive to sleep and could reshape how scientists think about…
Pickleball, padel—yes, they’re hot. Nevertheless, a third of the world’s adults are inactive—and among youth, inactivity is even more pronounced, according to McKinsey Partner Alexander Thiel. In this episode of The McKinsey Podcast, Alexander joins Global Editorial Director and Deputy Publisher Lucia Rahilly to discuss this year’s whipsawing consumer trends, as well as what sporting goods leaders can do to harness them to combat slowing growth.The McKinsey Podcast is cohosted…
Because of its track record in recruiting and supporting top international researchers, the University will get a share of the new £54 million Global Talent Fund, along with 12 of the UK’s leading universities and research institutions.From AI to medicine, the Fund is designed to attract a total of 60-80 top researchers (both lead researchers and their teams) to the UK, working in the eight high priority sectors critical to the Government’s modern…
Energy demand in the United States is projected to grow roughly ten times as fast in the coming decade as it did over the past ten years. This is largely driven by electrification, data center load growth, and increased demand from the manufacturing sector. While renewables are expected to make up a significant share of the new supply to meet this demand, they are not enough: To reliably deliver power…
Every chief operating officer (COO) knows this simple truth: Delivering the company’s strategy isn’t just part of the job—it is the job. While there are many paths to achieving that goal, none can succeed for long without increased productivity, the foundation for financial performance and economic growth. Since the 2008 global financial crisis, global productivity growth has largely declined around the world. Even before the crisis, advanced economies’ productivity growth…
This commentary originally appeared in Fortune. The views expressed are the author’s own. Apple received an unwanted spotlight last week when President Trump’s trade advisor, Peter Navarro, attacked CEO Tim Cook for not moving manufacturing out of China fast enough. In fact, having received similar pressure during Trump’s first term, Apple, in terms of what it sells in the U.S., now makes most iPhones in India and most laptops, AirPods,…
Howie and Harlan are joined by Seth Berkowitz, an internist and health equity expert, who argues that we know how to keep people healthier but are lacking the political will and commitment to do so. Harlan reports on a rapidly growing AI platform for doctors; Howie explains why the budget bill could reduce access to medical school. Links: OpenEvidence OpenEvidence “OpenEvidence, the Fastest-Growing Application for Physicians in History, Announces $210…
Quick Hits An employer’s response to the overzealous union representative varies depending on whether the representative is an employee. While union speech enjoys considerable latitude, threats, intimidation, and persistent hostility that disrupt the workplace cross the line and lose protection. In the case of nonemployees, employers must avoid self-help remedies. They can file an employer grievance and seek interim relief from a neutral third party. Overview of the Cases The…
Scientists have used an AI model to reassess the results of a completed clinical trial for an Alzheimer’s disease drug. They found the drug slowed cognitive decline by 46% in a group of patients with early stage, slow-progressing mild cognitive impairment – a condition that can progress to Alzheimer’s.Using AI allowed the team to split trial participants into two groups: either slowly or rapidly progressing towards Alzheimer’s disease. They could…
The global asset management industry is at a critical juncture. Longstanding tailwinds —primarily in the form of low interest rates and stable GDP growth—have changed direction, compounding ongoing challenges presented by the shift from active to passive and traditional to alternatives. Together, these trends are forcing firms to discover more sustainable pathways to outperformance. After a decade of unprecedented market growth, industry costs have become increasingly sticky and revenues unpredictable.…
Quick Hits The European Commission has confirmed that there will be no delay in the implementation of the EU AI Act. On July 10, 2025, the GPAI Code of Practice and related FAQs were published. The GPAI Code of Practice aims to aid compliance with the AI Act’s obligations. A Firm Stance on AI Regulation The Commission’s decision to forge ahead with AI regulations reflects its proactive stance on ensuring…
Findings from economic geographer Bent Flyvbjerg, editor of The Oxford Handbook of Megaproject Management (Oxford University Press, June 2017), confirm a stark reality: Out of a database of 16,000 projects, only 8.5 percent met their cost and schedule targets, and a mere 0.5 percent achieved all promised benefits. This phenomenon, which he calls the “iron law of megaprojects,” underscores that underperformance is the norm. We agree, as our in-depth review…
Q: What is the relationship between art and finance? The relationship between finance and art has always gone both directions. In a practical sense, artists have long depended on patrons, especially in order to produce large works. And the patrons used their public displays of wealth to move up the social pecking order. You could even say that the relationship is older than our species. There’s a 250,000-year-old hand…