Feed MRSS-S Noticias, english.elpais.com, economy-and-business en-us https://english.elpais.com Mon, 06 Apr 2026 09:29:59 GMT https://english.elpais.com/economy-and-business/2026-04-06/the-opening-bars-of-a-geoeconomic-funeral-march.html Mon, 06 Apr 2026 09:29:59 GMT https://english.elpais.com/economy-and-business/2026-04-06/the-opening-bars-of-a-geoeconomic-funeral-march.html Claudi Pérez Experts foresee stagflation reminiscent of the 1970s — or even a global recession in the worst‑case scenario — but forecasts remain shaky given the high level of geopolitical uncertainty Experts foresee stagflation reminiscent of the 1970s — or even a global recession in the worst‑case scenario — but forecasts remain shaky given the high level of geopolitical uncertainty Washington D.C. Irán Donald Trump Lehman Brothers Nouriel Roubini Germán Vogel (Getty Images) Strait of Hormuz A ship crossing the Strait of Hormuz. A ship crossing the Strait of Hormuz. <p>“Did anyone get the license plate of that truck?” Something like that must have been on half the world’s mind in the second half of 2008, when the system lost control and ran over — almost literally — the economy and international markets. That license plate belonged to Lehman Brothers, according to an excellent book by Princeton’s Alan Blinder.</p><p><a href="https://english.elpais.com/economy-and-business/2026-04-06/the-opening-bars-of-a-geoeconomic-funeral-march.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-04-06/a-toll-in-the-strait-of-hormuz-irans-condition-for-peace-that-could-raise-oil-prices-indefinitely.html Mon, 06 Apr 2026 08:12:53 GMT https://english.elpais.com/economy-and-business/2026-04-06/a-toll-in-the-strait-of-hormuz-irans-condition-for-peace-that-could-raise-oil-prices-indefinitely.html Caio Mattos Tehran is already informally imposing this arbitrary fee on ships from non-hostile countries and aims to make it a permanent practice Tehran is already informally imposing this arbitrary fee on ships from non-hostile countries and aims to make it a permanent practice Irán Donald Trump Brent ABEDIN TAHERKENAREH (EFE) Strait of Hormuz Cargo ships in the Persian Gulf, near the Iranian island of Qeshm, in a file photo from 2020. Cargo ships in the Persian Gulf, near the Iranian island of Qeshm, in a file photo from 2020. <p>Pressure is mounting to reopen the Strait of Hormuz, which Iran has kept blocked for five weeks. Donald Trump has made the negotiation of a ceasefire contingent on the release and opening of the Strait of Hormuz — through which one-fifth of the world’s oil and natural gas passes — according to a post he shared on social media on Wednesday. And this Thursday, a group of 35 countries from around the world — led by the United Kingdom and including two Gulf states, the United Arab Emirates and Bahrain — is meeting to ensure free transit once the conflict in the Middle East comes to an end. However, the main obstacle to peace and to reopening the strait remains: Tehran’s demand to impose a toll, a condition that is complicating negotiations.</p><p><a href="https://english.elpais.com/economy-and-business/2026-04-06/a-toll-in-the-strait-of-hormuz-irans-condition-for-peace-that-could-raise-oil-prices-indefinitely.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-04-05/adam-smiths-invisible-hand-why-his-ideas-are-still-influential-today.html Sun, 05 Apr 2026 03:30:00 GMT https://english.elpais.com/economy-and-business/2026-04-05/adam-smiths-invisible-hand-why-his-ideas-are-still-influential-today.html Carlos Rodríguez Braun The Scottish thinker – considered by many to be ‘the father of capitalism’ – published his magnum opus, ‘The Wealth of Nations,’ 250 years ago. In it, he coined the metaphor of the invisible hand, which refers not to a magical order, but to a market with an institutional framework that fosters growth. His ideas decisively influenced liberal thought, especially due to his belief in individual liberty and his wariness of state intervention The Scottish thinker – considered by many to be ‘the father of capitalism’ – published his magnum opus, ‘The Wealth of Nations,’ 250 years ago. In it, he coined the metaphor of the invisible hand, which refers not to a magical order, but to a market with an institutional framework that fosters growth. His ideas decisively influenced liberal thought, especially due to his belief in individual liberty and his wariness of state intervention Adam Smith Margaret Thatcher Quintatinta (EL PAÍS) Adam Smith <img src="https://images.english.elpais.com/resizer/v2/QWMDLP5CHBEFDMET7O2SYPYOUY.jpg?auth=cb239958145cb14ff316b9ebea23821a56e4e7ad032ac187c2009e5d4cea8a6e" width="1800" height="1350" alt="."></img><p>The full title of the book Adam Smith published in 1776 was: <i>An Inquiry into the Nature and Causes of the Wealth of Nations.</i> It was neither the first text on economics, nor on liberalism, and it wasn’t error-free. So why did it attract — and why does it <i>still</i> attract — so much attention? </p><p><a href="https://english.elpais.com/economy-and-business/2026-04-05/adam-smiths-invisible-hand-why-his-ideas-are-still-influential-today.html" target="_blank">Seguir leyendo</a></p><img src="https://images.english.elpais.com/resizer/v2/WHL7DSAORJFYTFVYBYX66TZ46I.jpg?auth=05c770e88531855f32a2f7766ff296ad3fa8b76cb73f4fe1af3bcecb2fbd8a3f" width="2475" height="1685" alt="The interior of the Royal Exchange, London's old stock exchange, in 1788."></img> https://english.elpais.com/economy-and-business/2026-04-03/irans-war-revives-the-risk-of-stagflation-50-years-after-the-last-major-crisis.html Fri, 03 Apr 2026 10:03:26 GMT https://english.elpais.com/economy-and-business/2026-04-03/irans-war-revives-the-risk-of-stagflation-50-years-after-the-last-major-crisis.html Amanda Mars European political and economic authorities warn about the danger of entering a phase of low growth and high inflation of up to 6%, if the conflict in the Middle East becomes entrenched European political and economic authorities warn about the danger of entering a phase of low growth and high inflation of up to 6%, if the conflict in the Middle East becomes entrenched Irán Donald Trump Christine Lagarde Teherán Israel TOLGA AKMEN (EFE) Se prevé que la inflación de los alimentos en el Reino Unido aumente debido al conflicto en Oriente Medio. Fresh produce at Ridley Road Market in Dalston, east London. Fresh produce at Ridley Road Market in Dalston, east London. <p>The risk of stagflation, that dreaded word, is back, 50 years after one of those episodes that seem unnatural. The combination of high inflation and low or zero growth—that is, sharply rising costs amidst a sluggish economy—is one of those rare scenarios in developed countries that only a significant external shock can trigger. Weak consumption and investment usually tend to cool wages and costs, but when these rise for an extended period due to an exogenous factor that defies the law of supply and demand—for example, <a href="https://english.elpais.com/economy-and-business/2026-03-31/larry-fink-ceo-of-blackrock-and-the-most-powerful-man-in-finance-the-global-economy-will-enter-a-recession-if-the-war-in-iran-lasts-more-than-a-year.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2026-03-31/larry-fink-ceo-of-blackrock-and-the-most-powerful-man-in-finance-the-global-economy-will-enter-a-recession-if-the-war-in-iran-lasts-more-than-a-year.html">a war like the one in Iran</a>—they can ultimately stagnate economic activity, and this standstill will also fail to curb inflation.</p><p><a href="https://english.elpais.com/economy-and-business/2026-04-03/irans-war-revives-the-risk-of-stagflation-50-years-after-the-last-major-crisis.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-04-02/chaos-fear-and-disappointment-trumps-tariffs-turn-one-year-old.html Thu, 02 Apr 2026 17:05:45 GMT https://english.elpais.com/economy-and-business/2026-04-02/chaos-fear-and-disappointment-trumps-tariffs-turn-one-year-old.html Jesús-Sérvulo González Moreno The shift in US trade policy leaves winners and losers: American families bear the burden of spending; the economy holds firm while global alliances are reshaped The shift in US trade policy leaves winners and losers: American families bear the burden of spending; the economy holds firm while global alliances are reshaped Donald Trump Washington D.C. China Canadá Andrew Leyden (CONTACTO/Europa Press) directo U.S. President Donald Trump displays the sign with the new tariff rates he imposed on Liberation Day. U.S. President Donald Trump displays the sign with the new tariff rates he imposed on Liberation Day. <p>In an era overflowing with historical events, few dates are etched in the annals of history. April 2, 2025, is one of them. On that day, Donald Trump shook the global geopolitical landscape, altered trade rules built through carefully cultivated diplomatic relationships since World War II, and triggered a shift in global supply chains. The president of the United States rattled the world with across-the-board tariffs of 10%, and up to 50% for those countries with which the United States had the largest trade deficits. “For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” the Republican leader declared to justify the trade policy shift. The day dubbed Liberation Day <a href="https://english.elpais.com/economy-and-business/2025-04-17/global-trade-takes-a-hit-from-trumps-tariffs.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-04-17/global-trade-takes-a-hit-from-trumps-tariffs.html">changed the world</a>, but not in the way the head of the world’s leading power had anticipated.</p><p><a href="https://english.elpais.com/economy-and-business/2026-04-02/chaos-fear-and-disappointment-trumps-tariffs-turn-one-year-old.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-31/larry-fink-ceo-of-blackrock-and-the-most-powerful-man-in-finance-the-global-economy-will-enter-a-recession-if-the-war-in-iran-lasts-more-than-a-year.html Tue, 31 Mar 2026 15:07:24 GMT https://english.elpais.com/economy-and-business/2026-03-31/larry-fink-ceo-of-blackrock-and-the-most-powerful-man-in-finance-the-global-economy-will-enter-a-recession-if-the-war-in-iran-lasts-more-than-a-year.html David Fernández Díaz The head of the world’s largest investment firm, with a total of $14 trillion in assets under management, also noted that ‘Spain is a beacon of hope for Europe’ in an exclusive interview with EL PAÍS The head of the world’s largest investment firm, with a total of $14 trillion in assets under management, also noted that ‘Spain is a beacon of hope for Europe’ in an exclusive interview with EL PAÍS BlackRock Larry Fink Madrid Irán Donald Trump China Carlos Rosillo (EL PAÍS) NEGOCIOS 29/03/2026 COVER Larry Fink at the Monteverdi club in Madrid last Wednesday. Larry Fink at the Monteverdi club in Madrid last Wednesday. <p>Larry Fink is the most powerful person <a href="https://english.elpais.com/economy-and-business/2026-01-24/from-trumps-interventionism-to-an-ai-bubble-what-could-bust-the-markets-in-2026.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2026-01-24/from-trumps-interventionism-to-an-ai-bubble-what-could-bust-the-markets-in-2026.html">in the financial markets</a>, and that status is granted to him by BlackRock. As chairman and CEO of the world’s largest asset manager, he manages $14 trillion – the sum of all the assets owned by the firm’s individual and institutional investors. His business card opens any door. Political leaders, central bankers, regulators and businesspeople all want to hear from “the man behind the curtain,” as the business writer William D. Cohan called Fink in a comparison that references <i>The Wizard of Oz</i>. Indeed, his influence is highly coveted: unseen, yet pervasive. Fink, 73, was in Madrid last week, as part of a European tour. After meeting with clients at the Hotel Santo Mauro, the California-born financier gave an exclusive interview to EL PAÍS at the private Monteverdi club. </p><p><a href="https://english.elpais.com/economy-and-business/2026-03-31/larry-fink-ceo-of-blackrock-and-the-most-powerful-man-in-finance-the-global-economy-will-enter-a-recession-if-the-war-in-iran-lasts-more-than-a-year.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-29/ukraine-from-cyborgs-to-drone-manufacturers.html Sun, 29 Mar 2026 04:00:00 GMT https://english.elpais.com/economy-and-business/2026-03-29/ukraine-from-cyborgs-to-drone-manufacturers.html Óscar Granados Unmanned aerial vehicles have revolutionized the arms industry, but their production makes many countries even more dependent on imports Unmanned aerial vehicles have revolutionized the arms industry, but their production makes many countries even more dependent on imports Crimea Kremlin Donetsk China Mykola Tys (Global Images Ukraine / Getty Images) (EL PAÍS) Drone assembly in Lviv, Ukraine, February 12. Drone assembly in Lviv, Ukraine, February 12. <p>Oleksandr Hrachov knows what it’s like to be on a battlefield. When the <a href="https://english.elpais.com/international/2023-09-26/ukraine-opens-up-a-new-war-front-in-crimea.html" target="_self" rel="" title="https://english.elpais.com/international/2023-09-26/ukraine-opens-up-a-new-war-front-in-crimea.html">Russians attacked Crimea in 2014</a>, later annexing it, this Ukrainian engineer volunteered for the army to fight against the separatists at Donetsk Airport in eastern Ukraine. “Yes, I was one of the cyborgs [soldiers known for their fierce resistance against the separatists] and I fought to defend our land,” he says. “When the Russians surrounded us, it was necessary to find a quick solution for aerial reconnaissance. That’s how the idea of ​​using drones in warfare came about.”</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-29/ukraine-from-cyborgs-to-drone-manufacturers.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-27/venezuelas-economy-trapped-between-paralysis-and-inflation.html Fri, 27 Mar 2026 11:58:19 GMT https://english.elpais.com/economy-and-business/2026-03-27/venezuelas-economy-trapped-between-paralysis-and-inflation.html Alonso Moleiro Despite the easing of US sanctions to boost the oil sector, economic recovery has not yet materialized Despite the easing of US sanctions to boost the oil sector, economic recovery has not yet materialized Venezuela Caracas Donald Trump Washington D.C. GABY ORAA (EL PAÍS) Workers protest in Caracas, on March 23. Workers protest in Caracas, on March 23. <img src="https://images.english.elpais.com/resizer/v2/W7J7TTQ3JBB5XDYSYDLKMV6LTA.jpg?auth=cf46bbfe8e7591a84f6092b53c9db2692eebcfccb3b897d7234f829366ba0825" width="6000" height="4000" alt="Workers protest in Caracas, on March 23."></img><p>The economy in Venezuela is not improving. <a href="https://english.elpais.com/economy-and-business/2026-01-22/us-military-intervention-boosts-venezuelas-economic-forecasts.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2026-01-22/us-military-intervention-boosts-venezuelas-economic-forecasts.html">Everyone hopes it will</a>, but the benefits are not materializing. Prices continue to climb, and the country’s annualized inflation — the highest in the world — averages 600%. One only needs to look at the behavior of the bolívar, the local currency, to understand the severity of the situation. So far this year, it has lost nearly 20% of its value against the dollar. In January, the official dollar was worth 367 bolívares; today it stands at 450 (and the so-called “parallel dollar,” which has a huge influence on price formation, can reach as high as 650). The currency has devalued by more than 9,000% since 2022.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-27/venezuelas-economy-trapped-between-paralysis-and-inflation.html" target="_blank">Seguir leyendo</a></p><img src="https://images.english.elpais.com/resizer/v2/FRXRYOVVQJH5BATNCEM2P2EF7U.jpg?auth=0b3c69c6bb40e55fe97922518f460f23142011c9d290c26286756f8b67c153d7" width="6000" height="4000" alt="Protest for higher wages, better pensions and the restoration of labor rights in Caracas, March 23."></img><img src="https://images.english.elpais.com/resizer/v2/FIEJU5TK65FVJCO6ILE64UYRUE.jpg?auth=7f0713d96ed19eb28390a5ae8b9f3a23f82662634abccdb9b8ea896c69464d14" width="6000" height="4000" alt="Protest to demand higher wages, in Caracas, on March 23."></img> https://english.elpais.com/economy-and-business/2026-03-25/it-will-take-the-oil-market-three-to-five-months-to-return-to-normal-even-after-a-potential-ceasefire.html Wed, 25 Mar 2026 09:30:48 GMT https://english.elpais.com/economy-and-business/2026-03-25/it-will-take-the-oil-market-three-to-five-months-to-return-to-normal-even-after-a-potential-ceasefire.html Nuria Salobral Once the Strait of Hormuz reopens, it will be necessary to repair facilities, restart wells, and manage a logistical crisis at sea. Gas and oil prices will continue to reflect geopolitical risks Once the Strait of Hormuz reopens, it will be necessary to repair facilities, restart wells, and manage a logistical crisis at sea. Gas and oil prices will continue to reflect geopolitical risks Irán Donald Trump Teherán Gibraltar IEA Stringer (REUTERS) Oil market QatarEnergy's liquefied natural gas (LNG) production facilities in Ras Laffan. QatarEnergy's liquefied natural gas (LNG) production facilities in Ras Laffan. <p>The Strait of Hormuz is neither a curtain nor a barrier that can be easily opened and closed. This strategic enclave, the epicenter of the <a href="https://english.elpais.com/economy-and-business/2026-03-22/fatih-birol-iea-the-war-in-iran-is-already-the-biggest-threat-to-energy-security-in-history.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2026-03-22/fatih-birol-iea-the-war-in-iran-is-already-the-biggest-threat-to-energy-security-in-history.html">energy crisis looming over the world</a>, is more like a tube of toothpaste. Traffic came to a sudden standstill when news broke of the U.S. and Israeli attack on Iran, as shipping companies and insurers saw the danger coming even before Iranian retaliation against ships or energy facilities began. Its reopening, however, will be much slower and more complicated, even if the most optimistic forecasts are met. If the war in the Middle East were to end today, it would still take the world months to restore even a modicum of normality to oil supplies.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-25/it-will-take-the-oil-market-three-to-five-months-to-return-to-normal-even-after-a-potential-ceasefire.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-23/more-poverty-less-travel-and-fewer-jobs-what-the-world-would-be-like-with-oil-at-200.html Mon, 23 Mar 2026 09:38:59 GMT https://english.elpais.com/economy-and-business/2026-03-23/more-poverty-less-travel-and-fewer-jobs-what-the-world-would-be-like-with-oil-at-200.html Jesús-Sérvulo González Moreno Analysts are beginning to consider the possibility of prices breaking all records if the conflict in the Middle East persists. In that case, a global recession would be almost inevitable Analysts are beginning to consider the possibility of prices breaking all records if the conflict in the Middle East persists. In that case, a global recession would be almost inevitable Irán Israel Donald Trump Riad IEA Christian Hartmann (REUTERS) Oil pumps operate outside Vaudoy-en-Brie Two oil wells in Vaudoy-en-Brie, France. Two oil wells in Vaudoy-en-Brie, France. <p>“The war in Iran is the greatest threat to energy security in history,” <a href="https://english.elpais.com/economy-and-business/2026-03-22/fatih-birol-iea-the-war-in-iran-is-already-the-biggest-threat-to-energy-security-in-history.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2026-03-22/fatih-birol-iea-the-war-in-iran-is-already-the-biggest-threat-to-energy-security-in-history.html">warned Fatih Birol</a>, president of the International Energy Agency (IEA), last week. “An Armageddon,” was the word heard among Wall Street analysts, according to the <i>Financial Times</i>. “Apocalypse” and “nightmare,” according to <i>The New York Times</i>.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-23/more-poverty-less-travel-and-fewer-jobs-what-the-world-would-be-like-with-oil-at-200.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-22/fatih-birol-iea-the-war-in-iran-is-already-the-biggest-threat-to-energy-security-in-history.html Sun, 22 Mar 2026 04:00:00 GMT https://english.elpais.com/economy-and-business/2026-03-22/fatih-birol-iea-the-war-in-iran-is-already-the-biggest-threat-to-energy-security-in-history.html Caio Mattos,Ricardo Sobrino The secretary general of the agency that coordinates oil reserves warns that the current supply reduction is greater than in the 1970s The secretary general of the agency that coordinates oil reserves warns that the current supply reduction is greater than in the 1970s Irán Teherán Donald Trump Israel Estrecho de Ormuz Energy Stringer (REUTERS) A cargo ship in the Gulf, near the Strait of Hormuz A cargo ship sails through the gulf, near the Strait of Hormuz. A cargo ship sails through the gulf, near the Strait of Hormuz. <p>Never before has the world been so close to a blackout. In just three weeks since Iran closed the <a href="https://english.elpais.com/international/2026-03-18/iran-maintains-its-threat-in-the-strait-of-hormuz-despite-opening-passage-to-some-vessels-from-non-combatant-countries.html" target="_self" rel="" title="https://english.elpais.com/international/2026-03-18/iran-maintains-its-threat-in-the-strait-of-hormuz-despite-opening-passage-to-some-vessels-from-non-combatant-countries.html">Strait of Hormuz</a>, through which a fifth of the world’s oil and gas passes, the blockade has already become “the greatest threat to global energy security in history,” according to Fatih Birol, executive director of the International Energy Agency (IEA), in remarks to EL PAÍS, and in line with a statement published by the agency this Friday.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-22/fatih-birol-iea-the-war-in-iran-is-already-the-biggest-threat-to-energy-security-in-history.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-21/smaller-pizzas-a-wooden-starbucks-logo-and-tatami-in-zara-the-demands-of-the-japanese-market.html Sat, 21 Mar 2026 04:00:00 GMT https://english.elpais.com/economy-and-business/2026-03-21/smaller-pizzas-a-wooden-starbucks-logo-and-tatami-in-zara-the-demands-of-the-japanese-market.html Gonzalo Robledo Ernest Higa, the American businessman who successfully launched Domino’s Pizza in Japan in 1985, recognized the need to adapt to the country’s unique characteristics. He recommends delving deeper into the culture, the market, and consumer habits Ernest Higa, the American businessman who successfully launched Domino’s Pizza in Japan in 1985, recognized the need to adapt to the country’s unique characteristics. He recommends delving deeper into the culture, the market, and consumer habits Starbucks Zara Domino’s Pizza Akio Morita Cristi Croitoru (Getty Images) A Starbucks store located in a traditional Japanese house in Kyoto. A Starbucks store located in a traditional Japanese house in Kyoto. <p>A smaller pizza, a logo carved in wood, or a tatami floor are minor adjustments that, in Japan, allow global brands like Domino’s Pizza, <a href="https://english.elpais.com/economy-and-business/2026-01-17/the-new-china-isnt-buying-the-american-dream-why-starbucks-and-burger-king-are-languishing.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2026-01-17/the-new-china-isnt-buying-the-american-dream-why-starbucks-and-burger-king-are-languishing.html">Starbucks</a>, or Zara to conquer one of the world’s most demanding markets. “Japanese diners are very prone to boredom,” Ernest Higa — an American businessman who in 1985 managed to establish the aforementioned pizza chain in the country after convincing the U.S. headquarters to increase the topping options from 12 to 38 and abandon the practice of serving only Coca-Cola — explains to EL PAÍS.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-21/smaller-pizzas-a-wooden-starbucks-logo-and-tatami-in-zara-the-demands-of-the-japanese-market.html" target="_blank">Seguir leyendo</a></p><img src="https://images.english.elpais.com/resizer/v2/2YTHEDSGAFDNBNPIY7L2BQ7CBQ.jpg?auth=cf45e756eb53468adf8b8fc7b3d7d769de7286f9067cc207c66bb8eca4fced83" width="568" height="850" alt="Exterior of a Starbucks store in the Ninenzaka neighborhood of Kyoto."></img><img src="https://images.english.elpais.com/resizer/v2/FKS3LXDYXNFJBFUDOON5D24STU.jpg?auth=dbd9f1b4b191b028703a6d435daceca280f26cea58a247c10e1ec8026df59eaa" width="1144" height="639" alt="Tatami room in the Zara store in Osaka, Japan."></img> https://english.elpais.com/economy-and-business/2026-03-20/keys-to-understanding-why-gas-is-the-weakest-link-in-the-global-energy-supply-crisis.html Fri, 20 Mar 2026 13:15:38 GMT https://english.elpais.com/economy-and-business/2026-03-20/keys-to-understanding-why-gas-is-the-weakest-link-in-the-global-energy-supply-crisis.html Laura Salces Acebes Asian countries are most affected by the absence of natural gas from the Persian Gulf, but this could end up putting pressure on prices in Europe and impacting storage capacity for next winter Asian countries are most affected by the absence of natural gas from the Persian Gulf, but this could end up putting pressure on prices in Europe and impacting storage capacity for next winter Irán ING China India Europe Kremlin Stringer (REUTERS) Energy installations in Ras Laffan, Qatar. Energy installations in Ras Laffan, Qatar. <p>Since the start of the <a href="https://english.elpais.com/international/2026-02-28/the-united-states-and-israel-launch-joint-attack-against-iran.html" target="_self" rel="" title="https://english.elpais.com/international/2026-02-28/the-united-states-and-israel-launch-joint-attack-against-iran.html">U.S. and Israeli attacks on Iran</a>, the price of Brent crude, the European benchmark, has climbed 51%, while TTF, the European benchmark for natural gas futures, has surged 98%. Its price jumped 21% between Wednesday and Thursday to €63 ($73) per megawatt-hour following the bombing of South Pars, the world’s largest natural gas field — which Iran shares with Qatar — and Tehran’s subsequent retaliatory attacks on refineries and other energy infrastructure in Saudi Arabia, Kuwait, and Qatar. The consultancy firm Kpler attributes this sharp rise to “a reminder that the geopolitical escalation is now directly impacting prices, trade flows, and investor anxiety.”</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-20/keys-to-understanding-why-gas-is-the-weakest-link-in-the-global-energy-supply-crisis.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-19/trumps-desperate-attempts-to-curb-soaring-oil-prices.html Thu, 19 Mar 2026 08:45:23 GMT https://english.elpais.com/economy-and-business/2026-03-19/trumps-desperate-attempts-to-curb-soaring-oil-prices.html Jesús-Sérvulo González Moreno The US president has temporarily lifted sanctions on Russia, released 40% of America’s oil reserves, and changed maritime laws The US president has temporarily lifted sanctions on Russia, released 40% of America’s oil reserves, and changed maritime laws Irán Donald Trump Teherán Israel Scott Bessent Ángel Colmenares (EFE) Estados Unidos enfrenta alza histórica en precios del diésel A gas station this Tuesday in New York. A gas station this Tuesday in New York. <p>The United States is experiencing its biggest fuel price hike in decades. The world’s largest crude oil exporter is unable to contain the spiraling oil prices triggered <a href="https://english.elpais.com/international/2026-03-16/the-persian-gulf-a-booming-business-for-the-trump-family.html" target="_self" rel="" title="https://english.elpais.com/international/2026-03-16/the-persian-gulf-a-booming-business-for-the-trump-family.html">by the Iran war</a>. The Trump administration is desperate to stem this escalation, which is beginning to hit Americans’ wallets with a little more than six months to go before the midterms, where the remainder of Trump’s term hangs on the line. For now, the White House has failed to contain the burgeoning energy crisis despite launching several initiatives to try to cool prices.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-19/trumps-desperate-attempts-to-curb-soaring-oil-prices.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-18/mexicos-economy-secretary-our-vision-in-the-usmca-is-to-reduce-dependence-on-other-regions.html Wed, 18 Mar 2026 21:15:49 GMT https://english.elpais.com/economy-and-business/2026-03-18/mexicos-economy-secretary-our-vision-in-the-usmca-is-to-reduce-dependence-on-other-regions.html Sonia Corona Marcelo Ebrard is visiting Washington to present his plan for the upcoming review of a treaty that represents 29% of global GDP in trade Marcelo Ebrard is visiting Washington to present his plan for the upcoming review of a treaty that represents 29% of global GDP in trade México Marcelo Ebrard Claudia Sheinbaum Donald Trump Washington D.C. Canadá CEDIDA MÉXICO - EBRARD GREER TMEC A working meeting between Marcelo Ebrard and Jamieson Greer in Washington, on Wednesday. A working meeting between Marcelo Ebrard and Jamieson Greer in Washington, on Wednesday. <p>The review of the United States-Mexico-Canada Agreement (USMCA) began Wednesday in Washington with a meeting between Mexico’s Secretary of Economy, Marcelo Ebrard, and the U.S. Trade Representative, Jamieson Greer. Ebrard shared a photo of the two countries’ teams at the U.S. Trade Representative’s office on his social media accounts. The Mexican Secretary explained that the purpose of this first meeting was to discuss the countries’ expectations <a href="https://english.elpais.com/economy-and-business/2025-09-09/mexico-prepares-for-tough-usmca-treaty-negotiations-with-the-united-states.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-09-09/mexico-prepares-for-tough-usmca-treaty-negotiations-with-the-united-states.html">for the future of the trade agreement</a>.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-18/mexicos-economy-secretary-our-vision-in-the-usmca-is-to-reduce-dependence-on-other-regions.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-18/illegal-gold-mining-is-rampant-on-nicaragua-costa-rica-border-fueled-by-chinas-voracious-appetite.html Wed, 18 Mar 2026 17:02:02 GMT https://english.elpais.com/economy-and-business/2026-03-18/illegal-gold-mining-is-rampant-on-nicaragua-costa-rica-border-fueled-by-chinas-voracious-appetite.html Álvaro Murillo Unlawful operations have expanded across more than 3,000 hectares, while authorities declare themselves powerless against a plunder that could exceed $250 million annually Unlawful operations have expanded across more than 3,000 hectares, while authorities declare themselves powerless against a plunder that could exceed $250 million annually Nicaragua Costa Rica China San José (Costa Rica) Laura Fernández Ministerio de Seguridad Costa Rica COSTA RICA-MINERIA ILEGAL DE ORO Police intervention on Conchuditas hill, on March 14. Police intervention on Conchuditas hill, on March 14. <p>Rampant illegal gold mining is spreading across more than 3,000 hectares along Costa Rica’s northern border, while local authorities declare themselves powerless in the face of mineral theft, deforestation, and the power <a href="https://english.elpais.com/international/2025-12-06/organized-crime-is-strangling-latin-america.html" target="_self" rel="" title="https://english.elpais.com/international/2025-12-06/organized-crime-is-strangling-latin-america.html">of criminal networks</a> that exploit the presence of Chinese companies in Nicaragua willing to buy the illicit ore. This so-called “dirty gold” thrives on prices exceeding $5,000 per ounce, leading Costa Rican authorities to estimate that the plunder could surpass $250 million annually.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-18/illegal-gold-mining-is-rampant-on-nicaragua-costa-rica-border-fueled-by-chinas-voracious-appetite.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-18/federal-reserve-expected-to-keep-interest-rates-steady-over-iran-war-uncertainty.html Wed, 18 Mar 2026 15:06:39 GMT https://english.elpais.com/economy-and-business/2026-03-18/federal-reserve-expected-to-keep-interest-rates-steady-over-iran-war-uncertainty.html Jesús-Sérvulo González Moreno Meanwhile the White House continues to pressure the Fed, delaying Senate confirmation of a replacement for Chair Jerome Powell, whose term ends in May Meanwhile the White House continues to pressure the Fed, delaying Senate confirmation of a replacement for Chair Jerome Powell, whose term ends in May Jerome Powell Donald Trump Irán Teherán Jonathan Ernst (REUTERS) FILE PHOTO: U.S. Federal Reserve Chair Powell attends a press conference in Washington Federal Reserve Chairman Jerome Powell following the board meeting last January. Federal Reserve Chairman Jerome Powell following the board meeting last January. <p>The <a href="https://english.elpais.com/international/2026-03-18/iran-maintains-its-threat-in-the-strait-of-hormuz-despite-opening-passage-to-some-vessels-from-non-combatant-countries.html" target="_self" rel="" title="https://english.elpais.com/international/2026-03-18/iran-maintains-its-threat-in-the-strait-of-hormuz-despite-opening-passage-to-some-vessels-from-non-combatant-countries.html">war with Iran</a> was expected to last four or five weeks, but Tehran’s reaction—a blockade of the Strait of Hormuz, the waterway through which a fifth of the world’s oil passes—has triggered a surge in energy markets. U.S. President Donald Trump insists the attacks will soon cease, but he is asking allies for help in securing this strategic Middle Eastern passage, while analysts speculate about how long the oil blockade will last.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-18/federal-reserve-expected-to-keep-interest-rates-steady-over-iran-war-uncertainty.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-18/plastics-aluminum-and-microchips-what-the-closure-of-the-strait-of-hormuz-costs-the-world-economy-beyond-oil-and-gas.html Wed, 18 Mar 2026 10:57:57 GMT https://english.elpais.com/economy-and-business/2026-03-18/plastics-aluminum-and-microchips-what-the-closure-of-the-strait-of-hormuz-costs-the-world-economy-beyond-oil-and-gas.html Laura Salces Acebes The conflict in the Middle East is affecting the supply of critical materials for Asian industry, agriculture, and technology The conflict in the Middle East is affecting the supply of critical materials for Asian industry, agriculture, and technology Irán ChatGPT UN China Israel Washington D.C. India Sudán IATA Donald Trump Florence Lo (REUTERS) Closure of the Strait of Hormuz Single-chip circuits. Single-chip circuits. <p>The blockade of the Strait of Hormuz threatens to unleash a perfect storm, impacting consumers’ wallets but also crops, the packaging of everyday products, and the use of apps like ChatGPT, Gemini, and Copilot. For every day the <a href="https://english.elpais.com/international/2026-03-17/trump-ramps-up-military-pressure-on-iran-despite-european-challenge-and-the-ravages-of-war-on-the-global-economy.html" target="_self" rel="" title="https://english.elpais.com/international/2026-03-17/trump-ramps-up-military-pressure-on-iran-despite-european-challenge-and-the-ravages-of-war-on-the-global-economy.html">U.S.-Israeli war against Iran</a> drags on, global trade in products beyond oil and natural gas is restricted, the impact of which on the global economy is almost as significant, if not more so, although much more subtle. “The real vulnerability lies in derivatives, not crude oil,” argues Felipe Elink Schuurman, co-founder of the commodities trading firm Sparta, in a report. He warns that second-round effects are imminent, already impacting supply chains, and that “this crisis goes far beyond the price of a barrel of oil.”</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-18/plastics-aluminum-and-microchips-what-the-closure-of-the-strait-of-hormuz-costs-the-world-economy-beyond-oil-and-gas.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/international/2026-03-16/the-persian-gulf-a-booming-business-for-the-trump-family.html Mon, 16 Mar 2026 11:09:27 GMT https://english.elpais.com/international/2026-03-16/the-persian-gulf-a-booming-business-for-the-trump-family.html Jesús-Sérvulo González Moreno The US president and his children maintain a thriving relationship with entities and authorities in the Middle East, where they have expanded their activities since the Republican’s return to the White House The US president and his children maintain a thriving relationship with entities and authorities in the Middle East, where they have expanded their activities since the Republican’s return to the White House Donald Trump Irán Israel Jared Kushner CHRISTOPHER PIKE (REUTERS) Persian Gulf Donald Trump A worker walks past the entrance to the Trump International Golf Club in Dubai in 2020. A worker walks past the entrance to the Trump International Golf Club in Dubai in 2020. <p>Donald, the son of Fred, a prosperous developer who in the mid-20th century built apartment blocks for the middle class in Brooklyn and Queens, <a href="https://english.elpais.com/usa/2025-10-19/all-the-presidents-businesses-how-trump-has-grown-richer-from-the-white-house.html" target="_self" rel="" title="https://english.elpais.com/usa/2025-10-19/all-the-presidents-businesses-how-trump-has-grown-richer-from-the-white-house.html">wanted to be richer than his father</a>, and ended up becoming the king of New York real estate and president of the United States. Donald Trump built an empire on the foundations of the family business. He learned to do business in an extreme and aggressive way. “To me it’s very simple: if you’re going to be thinking anyway, you might as well think big,” the current occupant of the Oval Office wrote in <i>The Art of the Deal</i>, an autobiographical book written with journalist Tony Schwartz in 1987, when Donald Trump was already a prominent figure in the Big Apple. By then, Trump Tower was already rising golden toward the sky, reshaping the New York skyline.</p><p><a href="https://english.elpais.com/international/2026-03-16/the-persian-gulf-a-booming-business-for-the-trump-family.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/technology/2026-03-14/by-your-command-my-robot-ai-war-games-spark-debate-about-ethical-limits.html Sun, 15 Mar 2026 04:30:00 GMT https://english.elpais.com/technology/2026-03-14/by-your-command-my-robot-ai-war-games-spark-debate-about-ethical-limits.html Jesús-Sérvulo González Moreno Donald Trump has ordered the termination of all contracts with Anthropic due to the technology company’s insistence on imposing red lines on the use of its technology Donald Trump has ordered the termination of all contracts with Anthropic due to the technology company’s insistence on imposing red lines on the use of its technology Anthropic Donald Trump Nicolás Maduro Palantir Irán ChatGPT Pete Hegseth OpenAI Kaspersky China Sam Altman Mikel Jaso (EL PAÍS) <p>In 1983, the film <i>WarGames</i> became a box office hit. Starring a very young <a href="https://english.elpais.com/culture/2023-08-07/matthew-broderick-the-teen-movie-idol-turned-broadway-star-now-known-as-sarah-jessica-parkers-husband.html" target="_self" rel="" title="https://english.elpais.com/culture/2023-08-07/matthew-broderick-the-teen-movie-idol-turned-broadway-star-now-known-as-sarah-jessica-parkers-husband.html">Matthew Broderick</a>, it told the story of a teenage hacker who faces off against a supercomputer controlled by an artificial intelligence named Joshua. The machine, which managed the United States’ nuclear missile arsenal, was out of control and threatened to unleash an atomic war. Over time, the film became a cult classic for anticipating the risks of granting a machine the power of war without human oversight.</p><p><a href="https://english.elpais.com/technology/2026-03-14/by-your-command-my-robot-ai-war-games-spark-debate-about-ethical-limits.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/lifestyle/2026-03-14/alan-faena-the-argentine-real-estate-developer-who-wants-to-turn-around-new-yorks-west-chelsea-district.html Sat, 14 Mar 2026 04:00:00 GMT https://english.elpais.com/lifestyle/2026-03-14/alan-faena-the-argentine-real-estate-developer-who-wants-to-turn-around-new-yorks-west-chelsea-district.html Karelia Vázquez The third project of this performative businessman in white is taking root in the city that never sleeps The third project of this performative businessman in white is taking root in the city that never sleeps Argentina Keith Haring Zohran Mamdani Nueva York Winnie Au (EL PAÍS) EPS 2580 PLACERES DECO HOTEL FAENA NY Alan Faena wants to bring back the grandeur of New York’s West Chelsea district. Alan Faena wants to bring back the grandeur of New York’s West Chelsea district. <p>Alan Faena wants New York to return to being the city that never sleeps. Apparently, post-pandemic, most New Yorkers now have dinner and go to bed early. Faena wants to reverse that trend with a maximalist and dramatic hotel in West Chelsea, where a speakeasy and a variety theater will remind the locals of the real yet <a href="https://english.elpais.com/usa/2026-02-23/new-york-discovers-the-rat-killing-effect-of-extreme-cold.html" target="_self" rel="" title="https://english.elpais.com/usa/2026-02-23/new-york-discovers-the-rat-killing-effect-of-extreme-cold.html">abandoned nature of the city</a> they live in.</p><p><a href="https://english.elpais.com/lifestyle/2026-03-14/alan-faena-the-argentine-real-estate-developer-who-wants-to-turn-around-new-yorks-west-chelsea-district.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-14/philippines-the-callcenter-capital-taking-a-deluge-of-calls-for-under-2-an-hour.html Sat, 14 Mar 2026 04:00:00 GMT https://english.elpais.com/economy-and-business/2026-03-14/philippines-the-callcenter-capital-taking-a-deluge-of-calls-for-under-2-an-hour.html Rodrigo Santodomingo The Asian country is a global leader in customer services, with Western corporations employing young people at salaries well below the cost of living The Asian country is a global leader in customer services, with Western corporations employing young people at salaries well below the cost of living Planeta Futuro Manila American Express Smartphone Dondi Tawatao (Getty Images) Philippines ‘call centers’ Filipino employees answer calls from the United States at a call center located in Taguig City, south of Manila, on December 2, 2011 in the Philippines. Filipino employees answer calls from the United States at a call center located in Taguig City, south of Manila, on December 2, 2011 in the Philippines. <p>It’s Saturday night in Manila, but 25-year-old Chris, who just graduated with a master’s degree, is not getting ready to party. His chair at a call center awaits him, so he is hurriedly eating a plate of street food before settling in to attend a flood of phone calls coming from the United States. In a skyscraper located in the modern neighborhood of Makati, Chris will resolve the doubts of clients living on the other side of the Pacific, where the sun is just beginning to rise. He’s been with the company Conentrix, which subcontracts with large financial and technological corporations, for five years. He earns $337 a month.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-14/philippines-the-callcenter-capital-taking-a-deluge-of-calls-for-under-2-an-hour.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-13/us-economy-grew-at-half-the-expected-rate-in-the-final-quarter-of-2025-due-to-tariffs-and-government-shutdown.html Fri, 13 Mar 2026 14:34:46 GMT https://english.elpais.com/economy-and-business/2026-03-13/us-economy-grew-at-half-the-expected-rate-in-the-final-quarter-of-2025-due-to-tariffs-and-government-shutdown.html Jesús-Sérvulo González Moreno Growth came in at 0.7% in the fourth quarter, compared with 1.4% in the initial estimate Growth came in at 0.7% in the fourth quarter, compared with 1.4% in the initial estimate Donald Trump David Zalubowski (AP) Costco Several people shop at a Costco store. Several people shop at a Costco store. <p>The U.S. economy slowed down at the end of last year. Economic activity grew by 0.7% in the fourth quarter, which is half of what the Bureau of Economic Analysis (BEA) had initially estimated. This downward revision of the 2025 Q4 GDP also reduced the annual growth rate by one‑tenth, bringing it to 2.1%.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-13/us-economy-grew-at-half-the-expected-rate-in-the-final-quarter-of-2025-due-to-tariffs-and-government-shutdown.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-13/key-points-about-the-largest-release-of-oil-reserves-in-history-will-it-curb-prices-will-it-be-enough.html Fri, 13 Mar 2026 09:28:45 GMT https://english.elpais.com/economy-and-business/2026-03-13/key-points-about-the-largest-release-of-oil-reserves-in-history-will-it-curb-prices-will-it-be-enough.html Ricardo Sobrino The immediate effect will depend more on how quickly the oil reaches the market and the logistics of its transportation than on the unlocked amount The immediate effect will depend more on how quickly the oil reaches the market and the logistics of its transportation than on the unlocked amount Irán Israel Donald Trump IEA Asia DPA vía Europa Press (DPA vía Europa Press) Oil reserves in history An oil tanker next to crude oil storage tanks in Hong Kong. An oil tanker next to crude oil storage tanks in Hong Kong. <p>The war in the Middle East <a href="https://english.elpais.com/international/2026-03-12/iran-globalizes-chaos-by-disrupting-energy-markets-and-pushes-back-the-end-of-the-war.html" target="_self" rel="" title="https://english.elpais.com/international/2026-03-12/iran-globalizes-chaos-by-disrupting-energy-markets-and-pushes-back-the-end-of-the-war.html">has made oil a central element</a> of global geopolitics. The blockage of the Strait of Hormuz, through which 20% of the world’s oil passes, has sent prices soaring. Furthermore, concerns about a potential shortage have forced the world’s largest economies to coordinate and release part of their strategic reserves. The International Energy Agency (IEA) will launch the largest coordinated intervention in its history. Up to 400 million barrels will be made available to the market by its 32 member countries. Despite the agreement, doubts persist among investors regarding the pace, duration, and effectiveness of this measure. The price of Brent crude, the global benchmark for oil, has climbed again to around $100 a barrel.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-13/key-points-about-the-largest-release-of-oil-reserves-in-history-will-it-curb-prices-will-it-be-enough.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/international/2026-03-12/iran-globalizes-chaos-by-disrupting-energy-markets-and-pushes-back-the-end-of-the-war.html Thu, 12 Mar 2026 18:51:09 GMT https://english.elpais.com/international/2026-03-12/iran-globalizes-chaos-by-disrupting-energy-markets-and-pushes-back-the-end-of-the-war.html Trinidad Deiros The blockade of the Strait of Hormuz impacts the global economy while Israel and the US have yet to achieve any strategic goal The blockade of the Strait of Hormuz impacts the global economy while Israel and the US have yet to achieve any strategic goal Irán Israel Donald Trump Alí Jameneí Omán Majid Asgaripour (REUTERS) Aftermath of a strike in Tehran, amid the U.S.-Israeli conflict with Iran Emergency personnel work at a building destroyed by bombs, this Thursday in Tehran. Emergency personnel work at a building destroyed by bombs, this Thursday in Tehran. <p>Iran has thrown energy markets into turmoil by turning on the fan of chaos, while continuing to retaliate against <a href="https://english.elpais.com/international/2026-03-12/war-plunges-iranians-into-fear-and-uncertainty.html" target="_self" rel="" title="https://english.elpais.com/international/2026-03-12/war-plunges-iranians-into-fear-and-uncertainty.html">attacks by Israel and the United States</a> despite its clear military inferiority. Nearly two weeks after the start of the US-Israeli military offensive on February 28, several attacks attributed to Iran have now struck six ships in the Persian Gulf, three of them on Thursday: two in the Iraqi port of Basra and the third a container ship in waters of the United Arab Emirates. These are in addition to the three cargo ships attacked on Wednesday. In his first purported message, read on state television, Iran’s new Supreme Leader, Mukhta Khamenei, asserted that the closure of the Strait of Hormuz must continue “as a tool to pressure the enemy.”</p><p><a href="https://english.elpais.com/international/2026-03-12/iran-globalizes-chaos-by-disrupting-energy-markets-and-pushes-back-the-end-of-the-war.html" target="_blank">Seguir leyendo</a></p>