Britain once sold trust to the world. That trust was forged in power, then refined into a services export: English law, City custody, and a reputation that money held here stayed safe from politics. The move from freezing Russian reserves to using, and possibly taking, them risks a slow credibility leak. In finance, leaks compound. The cost is drift, not drama.
America’s antitrust system is being reshaped at the exact moment its biggest media giants are fighting to merge. A Supreme Court case threatens the independence of regulators just as corporate concentration accelerates. This is not a technical dispute. It is a transfer of power from rules to relationships, from markets to politics, and from the many to the few.
Hanukkah is not decoration or nostalgia. It is a public act of Jewish memory and responsibility, designed to survive powerlessness as well as sovereignty. This year’s lights carry an ancient discipline into a world that still tests Jewish continuity.
Jewish humour is often misread as self-mockery. In fact, it is a disciplined form of irony designed to resist certainty, fanaticism, and the misuse of power. Rooted in Ashkenazi experience, it functions as an internal defence against oppression and moral intoxication, protecting dignity without surrender and scepticism without nihilism.
South Williamsburg is one of the few places in the modern city where Yiddish never became nostalgia. It remained a working language, passed from parents to children, spoken in homes, schools, shops, and streets. This essay walks the neighbourhood from the inside, tracing how a language survived not through sentiment, but through daily necessity and design.
Europe is moving from freezing Russian sovereign assets to institutionalising the freeze and building Ukraine finance on top of it. That shift invites a long legal campaign, concentrates liability in Belgium, and quietly burns Europe’s custody trust premium across global markets
This capstone article, the fourth in Telegraph Online’s series on frozen Russian assets, explains why banks and financial institutions in the City of London are pushing back against plans to use frozen Russian state money to fund loans for Ukraine. The dispute is not about morality or support for Ukraine. It is about legal ownership, court enforceability, retaliation risk, and who pays if the plan triggers lawsuits or financial instability.
Germany once promised that memory would protect it from future crimes. Instead, guilt has hardened into a civil religion that licences propaganda. A single media narrative now manages how Germans see Ukraine, Gaza, Russia, China and their own de industrialisation. Understanding the other side is treated as betrayal. The result is moral certainty and strategic blindness.
Europe says it wants to become the “AI continent” and is now planning AI gigafactories and sovereign compute by 2026. But while Brussels drafts tenders, frontier labs in California and Shenzhen move at weekly cadence. The problem is not European intelligence or talent. It is metabolism: regulation, culture and capital flows that move on political time while the AI race moves on benchmark time.
Sam Altman’s “code red” over Google’s Gemini 3 is not a colourful memo. It is the visible edge of a frontier arms race in which OpenAI, Google, xAI and soon Microsoft will ship ever more capable models on a weekly cycle while asking investors for power station levels of capital. Benchmarks rise, valuations rise, and the first thing that falls out of the room is safety.
Britain is cutting net migration by shutting down the very routes that pay for its public services. Skilled workers and foreign students are being pushed away, young British professionals are leaving, and the gap is filled by low wage labour and anonymous capital. This is not control of borders. It is the managed hollowing out of the tax base and skills base.
Donald Trump has reopened the door for Nvidia’s H200 sales to approved customers in China. Beijing’s response is not to celebrate but to ration access, shield Huawei and deepen its own AI hardware stack. This article follows on from our investigation into offshore Chinese model training and explains how both Washington and Beijing now run export style controls on the same chip.
Europe is not being dragged into decline by fate. Its leaders are choosing an energy squeeze, a financial time bomb over frozen Russian assets, and subordination to United States tariffs and war demands, while pretending this is morality and strategy. The only sector with a clear future is the arms industry. Everyone else is being told to absorb the cost in silence.
Zelensky spent the day shuttling between Downing Street and Brussels begging for unity while Trump mocked him for not reading a peace plan that barely exists. Behind the stagecraft, Washington has written a strategy that pushes the war bill onto Europe and steps back. The fighting will end on Russian terms. The question is whether Europe will admit it in time.
The next phase of AI will not be about clever chatbots but about systems that learn like brilliant teenagers, copy themselves at scale, and quietly become the dominant intelligence on the planet. When that happens, the only survivable response for humans will be to integrate with these systems rather than compete against them.
Artificial intelligence is sold as the triumph of digital “mind,” but the reality sits in the racks: GPUs, hyperscale data centres, energy contracts and private ownership. This article argues that Marx, not Hegel, explains the real engine of AI: material power, extractive relations, and the enclosure of society’s shared knowledge inside proprietary models. The ideas sit in the marketing; the contradictions sit in the data centre.
Ukraine’s front line is breaking, Europe is talking itself into wars it cannot fight, and Brussels is trying to turn Russian reserves into a permanent war chest. This long read ties the military endgame to the legal and financial tricks around frozen assets, drawing on earlier Telegraph Online (telegraph.com) investigations
This article simplifies a subject economists have turned into a maze. Inflation is not just a number on a chart. It is a mechanism of power that decides who pays when governments over promise and overspend. We walk through Mervyn King’s warning, John Cochrane’s fiscal theory, and the rival stories told by Stephen Miran, Kevin Warsh and Christopher Waller.
For eighty years Washington could print claims on the rest of the world and call it money. That privilege is no longer absolute. By turning reserves and payment pipes into weapons, the United States has forced other states to think like risk managers. The result is not a sudden dollar collapse, but a slow tightening of the funding noose around Washington’s own budget
Cancer neuroscience shows that tumours do not just sit in the body. They recruit nerves, form synapses, steal mitochondria and tap into the stress system to grow and spread. Some of the most promising ways to interfere with that wiring involve cheap drugs we already have. The science is glamorous. The problem is simple. No one can make enough money from the obvious experiments.
The European Commission wants to raise a huge loan for Ukraine backed on frozen Russian reserves, using emergency law to bypass national vetoes. Brussels calls it solidarity and insists nothing is being confiscated. In practice it weaponises custody, turns Euroclear into a litigation magnet and tells the rest of the world that reserves held in Europe are safe only until politics changes.
Martin Wolf now concedes that Britain is stuck in a low productivity, high inequality trap that threatens democracy itself. Yet when the argument reaches the point where rentiers must actually be confronted and capital controlled, he retreats into the language of caution. This long read maps the gap between his diagnosis and the regime he still cannot bring himself to break.
Around the world engineers keep throwing more data at their models, hoping that scale alone will unlock something resembling intuition or agency. It will not. Intelligence emerges from evolution and from competition anchored in scarcity and survival. Until AI systems are given stakes, persistence and an internal reward structure, they remain tools. This article explains why the missing ingredient is evolutionary pressure.
From a BRICS vantage point, the real energy weapon was never just Russian gas or Chinese rare earths. It was Washington’s grip on sanctions, shipping, finance and the dollar system, used for decades against Venezuela, Iran, Iraq and Russia. With U.S. warships off Caracas and new threats over oil and airspace, Venezuela has become the live test of a split world energy order.
Robotaxis are no longer just prototypes. Waymo now delivers over a million paid rides each month in American cities, while Baidu’s Apollo Go runs fully driverless cabs across Chinese and Gulf cities and chases breakeven in Wuhan. Behind them, Nvidia sells the compute, Uber chases bookings, and regulators decide who can rewrite their streets.
Central banks are not buying gold because the Western system that issues their reserves now freezes and seizes them. From Russian assets to Venezuelan gold, the message to the global South is simple. Your savings in New York or London are hostages, not reserves. The world is quietly building an escape route.
Ukraine’s front is no longer holding, Kiev’s power networks are held together by generators, and Europe is speaking loudly about a war it has neither the army nor the public to fight. Drawing on Telegraph Online’s own investigative sources, this long read examines the military collapse, the managed corruption in Kiev, the Black Sea tanker attacks and what a settlement on Russian terms really means for NATO.
Trump’s second term economy looks respectable on paper. Growth is positive, unemployment is low and an artificial intelligence boom is lifting Wall Street. Yet prices remain far above their pre pandemic level and Liberation Day tariffs have acted as a giant, hidden tax on everyday goods. Voters now blame Trump personally for a cost of living crisis he promised to end, and they are punishing him at the ballot box.