“Decline is not inevitable”. The former prime minister launches the Rhine Group to bring innovation back to Europe 

 Copenhagen (whose defence spending this year will reach 3.5 per cent of GDP) is incorporating Ukrainian weapons and technology into its national rearmament programme. It will now host part of Kyiv’s military production on its territory

Guiso (Professor of Economics at the Einaudi Institute for Economics and Finance): “It would be a problem if a slump were to weigh on households’ spending decisions. But if you invest for the long term – for example, whilst saving for retirement – those fluctuations will be recouped.”

According to Bloomberg, actual volumes would thus exceed estimates by 4 million barrels a day, approaching the figures claimed by US Energy Secretary Wright

First casualties of the war in merchant shipping: the Houthis strike where oil was being transported to bypass the Strait of Hormuz. Meanwhile, US Secretary Wright boasts of record volumes but is contradicted by experts

Jensen Huang and senior executives from companies including Apollo, BlackRock and Goldman Sachs have announced a memorandum to raise over $500 billion. The funding will come from external sources and each project will be assessed independently, but the core technology will remain that of Nvidia

The regime may blame everything on the external enemy (there is talk of $144 billion in damages), but the economic squeeze is putting pressure on the vulnerabilities that the Pasdaran have created at the expense of citizens through years of deficits covered by the Central Bank, under-investment, corruption and resources diverted to allied militias

The German Energy Minister warns that the party “raises concerns” regarding foreign investment, and surveys of business leaders confirm this warning. The lesson also applies to Italy and the current ruling coalition

The absurd requirements for setting up a driving school: a lorry is mandatory, e-learning is banned. Salvini acknowledges the need for change but is putting it on hold for now. “Trade associations are holding back the entry of new operators but are fuelling the sector’s decline,” say De Nadai and Cozzarini (Brum Patenti, digital driving school)

The US economy continues to grow whilst creating very few new jobs. And a weak labour market reduces the likelihood of monetary tightening, which had seemed increasingly likely following the Fed’s July meeting