Keywords: Warning
Daron Acemoglu, a professor at the Massachusetts Institute of Technology and recipient of the 2024 Nobel Prize in economics, has sharply criticized claims that artificial intelligence could eliminate half of entry level white collar jobs within a few years. He described the warning from Dario Amodei......
The head of the International Energy Agency has warned that the disruption in the Strait of Hormuz may trigger lasting changes in global energy markets, even if the passage reopens. Executive director Fatih Birol said the era of heavy dependence on a single maritime chokepoint is nearing its end, adding......
Fatih Birol said the conflict involving Iran and a coalition led by the United States and Israel has created the most severe global energy crisis on record, surpassing both the oil shocks of the 1970s and disruptions linked to the war in Ukraine. Speaking publicly on Tuesday, he said the combined impact......
A powerful earthquake with a magnitude of 7.5 struck off the northeastern coast of Japan on Monday, prompting authorities to issue a tsunami warning for several coastal regions. According to the Japan Meteorological Agency, the epicentre of the quake was located in the Pacific Ocean at a depth of approximately......
European Union foreign ministers are preparing to endorse an accelerated transition toward clean energy in response to the fuel market disruption triggered by the war involving Iran and the closure of the Strait of Hormuz. A draft of the conclusions frames the current crisis as a catalyst to reduce dependence......
A potential escalation of conflict involving Iran could drive an additional 60 million people into acute food insecurity, according to World Bank chief economist Indermit Gill. The warning comes as global economic shocks from the conflict begin to ripple across energy, agriculture, and trade systems. Gill......
Goldman Sachs warned Thursday that Brent crude could average above $100 a barrel through 2026 if the Strait of Hormuz remains closed to normal tanker traffic for another month. The note highlights fragility in the recent US-Iran ceasefire. "The situation remains uncertain," analysts including......
Six weeks into the U.S.-led military campaign against Iran, the economic fallout is accelerating. The closure of the Strait of Hormuz, a strategic passage through which roughly 20% of the world's oil supply flows, has sent crude prices surging, pushed U.S. gasoline to its highest level in nearly......
The European Central Bank has warned that banks across the euro area must prepare for tighter liquidity conditions as excess reserves decline rapidly. In a blog post published on April 2, the ECB said nearly half of the banking system will soon operate close to minimum reserve comfort levels. Central......
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