the crashShein goes public. But the market no longer believes in ultra-fast fashionChris Xu’s giant makes its debut in Hong Kong and ends the first day almost flat after an initial 10 per cent plunge. Protests, tariffs and sustainability concerns have dented the appeal of a model that seemed unstoppablebyFabiana Giacomotti1 SEP 26
The ColloquiumVenezuelan oil will serve as leverage for Trump against Canada. Paltrinieri speaks outTrump promises to replenish strategic reserves with crude oil from the Orinoco, but it is too heavy and high in sulphur for American refineries: it would be unusable and would damage the storage caverns byDavide Mattone31 AUG 26
MagazineThe pastures of Siena. Paradoxes and mysteries of a bankThe city wants its Monte; the right and left are joining forces in the battle for independence. The hypocrisy (and vested interests) behind municipalismbyStefano Cingolani29 AUG 26
The Invisible AssetFor a grain of sand. The raw material of everything, from concrete to siliconIt seems ordinary and inexhaustible, the perfect metaphor for infinity. Yet today it is the second most consumed (and contested) natural resource in the world. Artificial islands, mafias and summer catchphrasesbyEnrico Cicchetti29 AUG 26
editorialsThe toughest energy winter since 2022Despite high storage levels, Italy is the most vulnerable country in the EU when it comes to gas prices. And as soon as other major economies decide to replenish their own stocks, the market risks being affectedbyRedazione29 AUG 26
The HawkTrump’s Fed appointee signals a rate rise and challenges Bessent on TreasuriesOn the 65 months of high inflation, he takes the blame on behalf of the Fed. And regarding US government bonds, he calls for them to reflect what investors think about inflation and public finances, without ad hoc interventions byDavide Mattone29 AUG 26
The weight of ArgentinaMilei reforms the Central BankAs a candidate, he wanted to shut it down. Now, however, he is rebuilding the institution’s credibility and independence to tackle inflationbyLuciano Capone29 AUG 26
Editor's pieceMarkets prefer Italy to FranceAmid a high deficit and the Mélenchon risk, funds are selling OATs and buying BTPsbyRedazione28 AUG 26
The analysisUniversities and employment: the parallel challenges of demographic declineIn Italy, we face not only a problem with education, but also with retaining human capital. A university may attract students, but it is ultimately the economy that must convince graduates to stay by offering competitive salaries, career prospects and a good quality of life. A proposal to tackle the decline in populationbyGuido Ascari e Riccardo Trezzi28 AUG 26
the commentThe INPS is not the right place for supplementary pensionsThe Institute had previously managed a pension fund, with less than satisfactory results. There are numerous issues, ranging from the choice of governance structure to a lack of experience in investment mattersbyMario Padula28 AUG 26