economy

Governments and corporations are making high-stakes bets, with oil and gold prices surging while household budgets shrink. The Strait of Hormuz remains a critical flashpoint, described as the hinge between war and peace [134198]. U.S.-Iran tensions and a Hezbollah ceasefire blockade have pushed crude prices higher, leading Goldman Sachs to warn of a $120-per-barrel spike if conflict escalates [134089], [134168]. Europe’s energy bill jumped by $32 billion as a direct consequence of the Iran conflict [134143]. Gold markets are moving off-screen. The U.S. Mint purchased gold traced back to a Colombian drug cartel’s mine, raising questions about federal supply chain oversight [134258], [134260]. A Times investigation detailed flaws in global gold certification, showing that “clean gold” claims can mask cartel-sourced metal [134276]. Tax authorities in Canada and the U.S. have not yet acted against the importers. Oil profits are reshaping global manufacturing. China’s factory profits surged to a six-month high in August 2025, driven by rising oil-related commodity prices from the Iran war [134210]. However, China’s broader economy shows signs of strain from the same conflict [134265]. India and New Zealand signed a major free-trade pact, aiming to offset the impact of U.S. tariffs and the Iran war on their export sectors [134203]. Tech and AI deals face government vetoes. China blocked Meta’s $2 billion bid to acquire AI startup Manus, citing security concerns after a formal review [134165], [134188], [134216]. The decision froze a wave of cross-border AI investment, with Beijing warning the U.S. against sanctions “misuse” after hitting oil refiner Hengli [134186]. Microsoft and OpenAI ended their exclusive partnership, though they remain business partners [134267]. Energy transition policies are clashing with war-era fuel demand. Amsterdam became the first capital city to ban fossil fuel advertisements, while Shell bought Canadian shale firm ARC for $16 billion to boost output [134099], [134167]. Japan’s public bathhouses face closure as the oil crisis deepens, and its Nikkei index hit 60,000 for the first time ever, driven by energy-adjacent stocks [134193], [134218]. Debt and tax pressures are escalating. California’s ballot measure to tax billionaires secured enough signatures for a vote, while the UK’s Institute for Fiscal Studies warned that a wealth tax would drive away the rich [134171], [134273]. Teacher pay raises across the U.S. were erased by inflation, according to a new report [134250]. Food and real estate markets show local knock-on effects. The sole restaurant on Hong Kong’s southernmost island will shut after 50 years, while beer and BBQ festivals are planned for Hong Kong beaches under a new private scheme [134212], [134217]. Colombia offered a record $1.4 million reward for a rebel leader behind a deadly bombing [134151]. Africa’s growth rate holds at 4.5%, but risks are rising fast [134076]. Rural health funds in several countries face contractor grabs as private equity moves into public healthcare systems [134094]. <a href='/news/134076'>Africa’s Growth at 4.5%—But Risks Are Rising Fast</a> <a href='/news/134094'>Rural Health Fund Faces Contractor Grab</a> <a href='/news/134099'>Amsterdam Bans Fossil Fuel Ads in World First for a Capital City</a> <a href='/news/134089'>Oil Prices Surge as U.S.-Iran Stalemate Drags On, Hezbollah Blocks Ceasefire</a> <a href='/news/134143'>Europe’s Energy Bill Jumps $32 Billion Due to Iran Conflict</a> <a href='/news/134165'>China blocks Meta’s $2bn AI takeover deal</a> <a href='/news/134167'>Shell Buys Canadian Shale Firm ARC for $16bn to Boost Output</a> <a href='/news/134168'>Oil at $120? Goldman warns of war-driven price spike.</a> <a href='/news/134171'>UK wealth tax would drive away the rich, warns IFS</a> <a href='/news/134186'>China warns US over sanctions 'misuse' after hitting oil refiner Hengli</a> <a href='/news/134193'>Japan’s Nikkei Hits 60,000 for First Time Ever</a> <a href='/news/134198'>Strait of Hormuz: The Hinge Between War and Peace</a> <a href='/news/134210'>China factory profits surge to 6-month high as Iran war lifts prices</a> <a href='/news/134212'>Sole Restaurant on Hong Kong’s Southernmost Island to Shut After 50 Years</a> <a href='/news/134217'>Beer and BBQ festivals planned for Hong Kong beaches under new private scheme</a> <a href='/news/134218'>Japan’s Public Bathhouses Face Closure as Oil Crisis Deepens</a> <a href='/news/134250'>Teacher pay raises erased by inflation, report finds</a> <a href='/news/134258'>U.S. Mint Buys Drug Cartel Gold; Chaos Hits Correspondents’ Dinner</a> <a href='/news/134260'>Canada’s ‘Clean Gold’ Traced Back to a Drug Cartel’s Mine in Colombia</a> <a href='/news/134265'>China’s Economy Shows Strain From Iran War</a> <a href='/news/134267'>Microsoft and OpenAI End Exclusive Deal, But Stay Partners</a> <a href='/news/134273'>Tax Billionaires? California Ballot Measure Gets Enough Signatures.</a> <a href='/news/134276'>Gold's Hidden Stain: Times Investigation Reveals Market Flaws</a> <a href='/news/134203'>India, New Zealand sign major free-trade deal to offset US tariffs, Iran war</a> <a href='/news/134151'>Colombia offers record $1.4 million reward for rebel boss behind deadly bombing</a>