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Education Environment Healthcare

The transformative power of cities: tackling climate change through green, resilient, and inclusive urban development

From 1970 to 2021, the global urban population surged from 1.19 billion to 4.46 billion, while the Earth’s surface temperature rose by 1.19 degrees Celsius above preindustrial levels. Cities, as engines of prosperity, have been major contributors to climate change.  A new World Bank report, Thriving: Making Cities Green, Resilient, and Inclusive in a Changing Climate, suggests that […]

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Business Finance

TD, RBC miss profit estimates as bad loan provisions climb; CIBC beats

Canada’s two biggest lenders, TD and Royal Bank of Canada, missed analysts’ estimates for quarterly earnings on Thursday as tough economic conditions spurred the banks to make higher provisions for borrowers falling behind on repayments. TD, which called off its $13-billion acquisition of U.S.-based First Horizon this month, said it does not expect to meet its medium-term […]

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Featured Technology World

Chinese hackers spying on US critical infrastructure, Western intelligence says

A state-sponsored Chinese hacking group has been spying on a wide range of U.S. critical infrastructure organizations, from telecommunications to transportation hubs, Western intelligence agencies and Microsoft said on Wednesday. The espionage has also targeted the U.S. island territory of Guam, home to strategically important American military bases, Microsoft said in a report, adding that “mitigating […]

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Featured trade World

The EU’s strategic dependencies unveiled

The EU benefits greatly from its wide participation in international value chains. However, that integration is not exempt from strategic dependencies on products and inputs that are critical for Europe. This column examines the EU’s dependencies in traded goods using data from 5,400 products imported between 2017 and 2020. Foreign-dependent products span various sectors, including […]

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Banking Finance

Open banking’s far-fetched promise of a financial revolution

Open banking involves giving third parties access to information that is otherwise captive in a bilateral relationship between a provider of financial services and its client. Yet, there are considerable limits to the diffusion of financial information and to the use of such information to enhance competition. This column argues that the scope and the […]

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Economy Finance World

Accounting for imported and domestically generated inflation: Supply chains, monetary policy, and the UK’s cost of living crisis

Inflation has increased sharply since the start of 2021 as the global economy grapples with the aftermath of the COVID-19 pandemic and Russia’s invasion of Ukraine. This column draws on a long tradition of research on input-output linkages to trace the proximate contributions of energy and import costs to the cost-of-living crisis in the UK. […]

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Economy Technology

Cleantech manufacturing: where does Europe really stand?

Securing a competitive edge in cleantech manufacturing has increasingly come to be seen as a priority for Europe. China’s dominance of this sector and the subsidies offered under the United States Inflation Reduction Act (IRA) (Kleimann et al, 2023), compelled the European Commission in February 2023 to publish a Green Deal Industrial Plan with the goal […]

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