A decade of shocks has left much of the developing world weakened just as AI begins reshaping the global economy, World Bank economists conclude in a new report.
Why it matters: A series of shocks — the COVID-19 pandemic, the Ukraine war and now the Iran war — have buffeted the world's poorest countries particularly hard. These countries risk being poorly positioned to benefit from an AI-driven productivity and spending super-cycle.
The globe's poorest countries will enter this period burdened by debt, weak investment and years of stalled development, with little capacity to build the infrastructure and skills needed to share in those gains.
Oil prices have defied predictions of even bigger increases than we've seen — but the markets' shock absorbers could easily wear out later this summer unless the Strait of Hormuz opens soon, analysts warn.
Why it matters: If the stockpiles run too low and oil prices surge, prices at the pump — which have been falling lately — could spike again as the midterm elections approach.
President Trump is once again threatening to seize Kharg Island, Iran's main oil export hub and a high-value target in the months-long war.
The big picture: Attacks on the small island's oil infrastructure — or a full-blown takeover — could choke Iran's revenue, but there's no guarantee the stark escalation would persuade Iran to accept Trump's terms.
Most people worry that electric vehicles are going to further strain America's aging power grid, but the opposite is true, says the head of California's largest utility.
Why it matters: A parked EV can be an extension of the grid, a distributed energy storage asset that can send power back when it's needed most.
Amazon says its data centers use water more efficiently than the industry average and is urging others to improve as scrutiny of data centers intensifies.
Why it matters: Water use has emerged as one of the biggest pressure points in the AI data center buildout, pushing companies like Amazon to publicly defend their efforts.
President Trump said the U.S. will hit Iran with new strikes Thursday and threatened to seize Kharg Island, Iran's main oil export hub.
Why it matters: This will be the third consecutive night the U.S. military strikes Iran. U.S. officials say the goal is to push Iran to show more flexibility in the negotiations over its nuclear program.
