A certain number of Western international political theorists, as well as a number of brilliant intellectuals in Russia, have long been advocating the idea that the proliferation of nuclear weapons may not be a danger, but a beneficial factor. In the most general terms, their arguments can be reduced to the fact that the presence of these weapons is a powerful deterrent to the emergence of military conflicts and generally…
Construction is one of the world’s largest industries, accounting for 13 percent of global GDP. Yet it also struggles with low productivity growth and performance while facing urgent needs for more skilled labor, steadier supply chains, simpler regulations, and predictable commodity and equipment pricing. These would be challenging at any time but are particularly significant today as investment surges amid infrastructure renewal, the energy transition, and increased demand for data…
After the tariff frenzy of the first quarter of this year, we’ve sailed into the doldrums. Not that the tariffs have gone away, or the threat of new ones has subsided, or there is a solid prospect of a non-tariff settlement discernible in the horizon, but that the pace of movement, of change, and of threats has slowed down. We can take a sigh of relief for this minor, if…
Once in a great while, a technological innovation comes along that changes the world, and businesses have to adjust—or potentially decline into irrelevance. The Industrial Revolution’s steam engine and the mechanization of production allowed for a shift from largely agrarian to urban lifestyles. The birth of the internet brought us enhanced real-time communication, e-commerce, cloud computing, and more. Now, it’s AI’s turn. This powerful technology is rapidly transforming workflows, driving…
The University of Oxford has received a £6.25 million gift to expand its outreach work with socio-economically disadvantaged students in science, technology, engineering and mathematics (STEM) subjects. The gift will help to fund three major outreach projects taking place at the University from October 2025. These include a new programme providing GCSE mathematics mentoring to students who show promise for the subject, and an innovative ‘online school’ that gives 14-19-year-olds…
On Dec. 6, 2024, following more than 25 years of negotiations, the European Union (EU) and Mercosur (comprising Argentina, Brazil, Paraguay, and Uruguay) finalized their trade agreement. The two massive common markets aim to create one of the world’s largest free trade areas, encompassing over 700 million people and nearly 25 per cent of the global GDP. (If you haven’t already, take a look at our earlier publication summarizing the key…
Enterprise resource planning (ERP) transformations are often large and complex investments that can cost millions of dollars and take many years to complete. They are also notoriously difficult to manage, and it is not uncommon for companies to run into delays and cost increases. METRO AG, a multinational food wholesaler based in Düsseldorf, Germany, was facing significant problems with its ERP transformation. In this interview, McKinsey’s Florian Bauer speaks with…
Findings of the IMPORT LOW trial, led by researchers at the University of Cambridge and The Institute of Cancer Research, London, showed that limiting radiation to only the tumour area is just as effective as treating the whole breast, therefore reducing radiation exposure.At the 10-year follow-up mark, the team showed that recurrence rates for the less aggressive technique – known as partial breast radiotherapy – were 3 per cent, the…
Business leaders have come to a stark revelation: The gap between their companies’ tech workers and their nontech colleagues must shrink. The emergence of digital technologies, especially the rapid rise of AI over the past two years, comes with immense promise to unleash growth and productivity. But companies will not see those benefits if their employees are not up to speed. Achieving the full benefits of digital and AI technologies…
Quick Hits On May 28, 2025, the Ontario government introduced Bill 30, titled the Working for Workers Seven Act, 2025, building on the six prior Working for Workers Acts. Bill 30 introduces a new unpaid leave for employees receiving group termination notices, would extend the maximum length of layoffs, and would require job posting platforms to implement systems to report fraudulent job postings. Proposed amendments under Bill 30 also include…
In a development with major implications for the commercial leasing sector, the Supreme Court of Canada has granted leave to appeal in Canada Life Assurance Company v. Aphria Inc. (Canada Life). At the heart of the case is a question that affects every commercial lease in the country: When a tenant walks away from a lease, and the landlord refuses to accept that repudiation, is the landlord required to mitigate…
It has been described as “the biggest and most economically significant bilateral trade deal the UK has done since leaving the EU.” On May 6, 2025, the United Kingdom and India signed the historic UK-India Free Trade Agreement (FTA), which both governments estimate will increase bilateral trade by $34 billion a year. This comes on top of a near doubling of the existing trading relationship between the two countries from…
On June 25, 2025, the Québec government adopted the final version of the regulation related to the right-to-repair provisions introduced by Bill 29: An Act to protect consumers from planned obsolescence and promote the durability, repair and maintenance of goods (the Regulation). This Regulation provides the long-awaited details on how manufacturers and merchants must comply with Québec’s new consumer protection rules. Starting Oct. 5, 2025, all manufacturers and merchants selling…
Earlier observations of this star, called MP Mus, suggested that it was all alone without any planets in orbit around it, surrounded by a featureless cloud of gas and dust.However, a second look at MP Mus, using a combination of results from the Atacama Large Millimeter/submillimeter Array (ALMA) and the European Space Agency’s Gaia mission, suggests that the star is not alone after all. The international team of astronomers, led…
14 July 2025By Ulrich Bindseil*TARGET Services are the backbone of Europe’s financial market infrastructure. Like a spine, they have to be both strong and supple. Strong enough to process large volumes and values while maintaining high levels of performance, and supple and flexible enough to respond to changing needs, technologies and geopolitical conditions.Free flow of central bank money, securities and collateralTARGET Services comprise T2, TARGET2-Securities (T2S), TARGET Instant Payment Settlement…
On July 10, 2025, the Valdai Club hosted an expert discussion titled “Peace Through Strength: the Middle East Funnel”, dedicated to the role of the US in the crisis in the Middle East, the situation in Iran and non-proliferation issues. The moderator was Timofei Bordachev, Programme Director of the Valdai Club and Professor at the National Research University Higher School of Economics. Alexander Maryasov, Ambassador Extraordinary and Plenipotentiary of the…
On July 3, 2025, the Supreme Court of Canada (SCC) refused leave to appeal in a dispute between Steelhead LNG and Arc Resources. Thus, it remains settled law that plans or a drawing do not infringe claims to an apparatus, system, or method. At the Federal Court of Appeal (FCA), and in the Federal Court (FC) below, Steelhead argued that Arc had “used” their invention, thereby infringing their patent by…
In Kakkar v. Her Majesty the Queen in Right of Ontario, 2025 ONSC 3776, the Ontario Superior Court of Justice dismissed a putative class proceeding on the basis of delay pursuant to section 29.1 of the Ontario Class Proceedings Act (the CPA). The plaintiff, Anupam Kakkar, commenced the action in May 2016 against the Crown, Crown Works Ottawa, and City of Ottawa, alleging class-wide issues relating to child support orders…
13 July 2025By Miles ParkerJuly 2025 began with yet another heatwave across Europe. ECB research finds such events can substantially reduce economic activity in affected regions and increase food prices. With global warming, future heatwaves are likely to have more pronounced economic effects.With a hot and sticky start to July in Frankfurt, sleep has been difficult. My daughter has been a bit grumpy. As have I. Those are just the…
A certificate of pending litigation (CPL) is a powerful tool in the litigator’s arsenal. It is often used in claims for specific performance and constructive trusts (both remedial and substantive) as a means to freeze title and prevent the owner from dealing with the property, as they otherwise might have. CPLs are available when the plaintiff claims an interest in land, and they are generally not available when the claim…
This interview is part of the Leading Asia series, which features in-depth conversations with the region’s most influential leaders on what it takes to lead in Asia today. In this Leading Asia interview, Avinash Goyal, a senior partner at McKinsey, talks to Rajesh Rathi, the chairman and managing director of Sudarshan Chemical Industries Limited. With over 50 years in operation and a presence in more than 85 countries, the business…
Quick Hits The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, introducing significant changes to immigration policy, including new and increased fees for humanitarian-based applications and employment authorizations. The legislation imposes a new “visa integrity fee” and raises other travel-related fees, impacting visa applicants and frequent travelers. The OBBBA also allocates substantial funding for border security and enforcement, including increased resources for border infrastructure,…
In Pepa v. Canada (Citizenship and Immigration), 2025 SCC 21, the Supreme Court of Canada held that the Immigration Appeal Division (IAD) of the Immigration and Refugee Board of Canada had unreasonably interpreted its jurisdiction under the Immigration and Refugee Protection Act, S.C. 2001, c. 27 (IRPA) when it held that an individual who entered Canada under a valid permanent resident visa could lose their right to appeal an exclusion…
This transcript has been lightly edited for clarity. What themes should chief procurement officers (CPOs) focus on to unlock new value sources in a volatile era? Tarandeep Ahuja: We are seeing procurement leaders focus on five key themes to drive sustainable competitive advantage in their organizations today: First, a full adoption of digital and AI, both as a source of identifying new opportunities and also generating efficiencies across the supply…
Addressing the climate transition requires a new way of thinking. On the one hand, if the goal is net-zero emissions by 2050, the world is well short of meeting it. The United Nations has noted that there are big gaps between the targets that countries have committed to and the actions being taken to meet them. At the same time, there are real concerns that taking effective action could raise…
Quick Hits On June 10, 2025, the Pittsburgh City Council passed an ordinance amending the Pittsburgh Paid Sick Days Act, effective January 1, 2026, which includes changes such as employees accruing one hour of paid sick time for every thirty hours worked. Employers with fifteen or more employees must now provide at least seventy-two hours of paid sick time each year, while those with fewer than fifteen employees must provide…
The defense landscape in Europe is evolving fast, with active conflicts and novel hybrid threats affecting countries’ critical infrastructure and economies. Innovation will be a key enabler for Europe’s defense industrial base as the region seeks ways to scale the defense industry, drive more capabilities, and better collaborate to ensure its industrial competitiveness. Having joined Saab in 1985, and having recently been elected as president and chairman of the Aerospace,…
This commentary originally appeared in Fortune. The views expressed are the authors’ own. In the last week alone, Meta has poached more than a dozen top AI researchers from peer companies, giving each one immediate cash bonuses worth up to $100 million in a frantic effort to keep up with the AI arms race after falling behind market leaders such as OpenAI and Anthropic. But perhaps Meta CEO Mark Zuckerberg…
Wild chimpanzees show reduced participation and performance in their tool-use behaviours as they grow older, according to the long-term video observations used in the new study. This provides solid evidence that old age leads to gradual withdrawal from tool use, and is a contributing factor to lower efficiency in chimps' stone tool selection and use.The findings also indicate that chimpanzees mirror human beings in how the aging process affects their…
The US goal is not a direct military clash, but the gradual drawing of Beijing into a protracted proxy conflict in which Washington will have the advantage in terms of time, resources and political conditions, Andrey Sushentsov writes. Tensions in relations between the US and China are steadily growing. Their rivalry extends to the economic, technological, military-political and ideological spheres. The Taiwan issue remains the central node of this confrontation.…
Quick Hits On June 14, 2025, the Maryland Department of Labor reissued proposed regulations for the Maryland Economic Stabilization Act, requiring employers to provide notice of mass layoffs or reductions in force. Maryland’s Economic Stabilization Act mandates sixty days’ written notice for mass reductions in operations, applying to employers with at least fifty employees and triggered by significant workforce reductions. The public has until July 14, 2025, to comment on…
In the UK, we often take access to energy for granted. Yet it underpins virtually every aspect of daily life—from food and healthcare, to communication and transport. Globally, it enables sustainable development by improving educational outcomes, increasing clean water availability, and building climate adaptation capacity. Its centrality in the UN Sustainable Development Goals underscores a shared understanding: equitable development hinges on universal energy access.Achieving this goal, however, is far from…
11 July 2025By Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECBEuropean banks have made forward strides in managing climate and nature-related risks. But more still needs to be done as we often see that practices are only applied to a subset of relevant exposures, geographic areas and risk categories. To help banks improve further, later this year the ECB…
The North Atlantic Treaty Organisation’s summit is traditionally one of the last events of the spring political season in Europe. In late June - early July, the allies "synchronise their watches" on the results of the first half of the year and record agreements for the future. Since 2022, NATO summits have been rich in news: after a twelve-year break, the Alliance's Strategic Concept was updated, several aid packages for…
As the world shifts toward a more sustainable future, addressing carbon emissions remains a top priority. Renewable energy sources are rapidly expanding and driving the decarbonization effort, yet certain industries, particularly those with hard-to-abate (HtA) emissions, require additional solutions.HtA industries are sectors with high energy requirements that face significant challenges in reducing their carbon emissions due to the nature of their processes. In 2022, the three main HtA industries—cement, steel,…
A large fashion retailer faces the possibility that much of its supply chain will be subject to 90 percent tariffs depending on how and when geopolitical winds shift. A global industrial-equipment maker needs to quickly redesign a flagship product that keeps malfunctioning because of stronger and more frequent weather events. A consumer-packaged-goods company needs to optimize its coding and product-marketing processes given that gen AI can automate both—and competitors are…
Waymo started over a decade ago as a research project at Google X, Alphabet’s R&D lab. Today, it's a commercial autonomous driving service operating on public roads, with no human drivers behind the wheel. It represents one of today’s most visible and complex moonshots. Moonshot thinking, as Waymo shows, is about solving deeply rooted real-world problems through 10x leaps, not 10-percent improvements. It requires significant upfront investment, a long runway, interdisciplinary collaboration…
Karlie Kloss, founder of Kode With Klossy (KWK), and Osi Imeokparia, KWK’s CEO, say the process of coding builds more career skills than knowing how to write instructions for a computer. On this episode of At the Edge podcast, they speak with McKinsey Senior Partner Lareina Yee about how KWK’s programs teaching 13-to-18-year-old young women and gender-expansive teens how to code help enable the students to develop critical thinking skills, improve…
The Brazilian BRICS summit should be recognised as quite successful both in promoting new topics on the agenda and in the declared common approaches, which more clearly than before reflect the position of the countries of the Global Non-West and the South in world politics, writes Valdai Club Programme Director Oleg Barabanov. The annual BRICS summit was held on July 6-7, 2025 in Rio de Janeiro, Brazil. For the first…
By 2040, the energy demands of the tech industry could be up to 25 times higher than today, with unchecked growth of data centres driven by AI expected to create surges in electricity consumption that will strain power grids and accelerate carbon emissions. This is according to a new report from the University of Cambridge’s Minderoo Centre for Technology and Democracy, which suggests that even the most conservative estimate for big…