Briefing

Damage report

The war was steadily spiralling in scope and destruction

America, Israel and Iran were striking a widening array of targets across an expanding area

2 min read

The Tisza is flooding

Might Hungary’s election sweep away MAGA’s favourite foreign leader?

Whether Viktor Orban wins or loses, the world’s populists and their opponents are watching

13 min read

Private-equity firms

A guide to the private-credit crisis

Why some panicky investors are running for the exit

14 min read

Truly dire

The nightmare scenario for global trade

There could be worse blockages than the Strait of Hormuz, our analysis finds

Unsafe passage

Hormuz is not the only weak spot for global trade

Many shipping routes are vulnerable, from the Strait of Malacca to the Panama Canal

13 min read

Stranglehold

What a battle to reopen the Strait of Hormuz would look like

A lot of ships, aircraft and soldiers would have to spend a long time in harm’s way for uncertain results

6 min read

Double deadlock

There is plenty of scope for the Iran war to intensify

But no obvious way to bring it to an end

7 min read

Fire-retardant spray

The Iran war could sap American military power for years

It is devouring munitions and exhausting an already stretched navy

6 min read

No quarter

The assassination of senior leaders weakens Iran—but at a cost

The regime is becoming ever less predictable

4 min read

Communist estate-planning

China is wrestling with a novel phenomenon: inherited wealth

Even as the economy slows and opportunity narrows, a lucky few receive big windfalls

13 min read

The sick man of the Gulf

America’s war on Iran may bring Bahrain to its knees

The tiny, indebted kingdom is seeing its main sources of revenue dry up

2 min read

Epic consequences

The damage to the world economy from the Iran war will be severe, but uneven

It has already caused the biggest energy supply shock in history

11 min read