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Los Angeles Philharmonic names Daniel Harding its next music director
Daniel Harding, the versatile British conductor and Air France pilot who made his L.A. Phil debut in 1997 at 21, will become the orchestra's 12th music director.
Texas Businesses Leaders Promote Civic Engagement And Voting
During election years, business owners can play an important role in promoting civic engagement and voting. Here is what two chambers of commerce in Texas are doing.
PS Plus Essential, Extra Games for June 2026 Announced
Hope you've got friends
Watch Lilly Gets Back Into the Vaccine Business With New Deals
Eli Lilly & Co. is buying three clinical-stage vaccine developers for as much as $3.8 billion as it looks to become a leader in infectious diseases. The drugmaker has been using cash from its obesity drugs to expand into other disease areas. Bloomberg's Gerry Smith reports.
Scientists create global treasure map pointing to hidden rare earth deposits
Scientists have created a global “treasure map” for rare earth elements by uncovering where the strange volcanic rocks that contain them are most likely to form. By combining thousands of rock samples with seismic images of Earth’s deep interior, the team discovered that these metal-rich rocks tend to appear along the ancient, thick roots of continents. These unusual rocks, once seen as geological oddities, are now incredibly important because they hold many of the materials used in smartphones, electric vehicles, and wind turbines.
Get up to speed fast on the California election with our guide for the undecided
Californians are voting on a wide-open governor's race in a June 2 primary election. Xavier Becerra, Steve Hilton and Tom Steyer are leading in polls.
Tranmere appoint Clarke as new manager
Darrell Clarke signs a two-year contract to become the new manager at the Prenton Park club.
Here's what to watch for in the Texas primary runoff election today
Former Badgers basketball star Sam Dekker turns to coaching
After 11 pro seasons in the NBA and overseas, Dekker will become an assistant coach for the University of South Carolina Gamecocks.
Galaxy S27 Pro Could Become Samsung’s Best Seller Next Year, As New Camera Details Show One Minute Difference With Galaxy S27 Ultra
A new rumor claims that the Galaxy S27 Pro will share nearly the same rear camera hardware as the Galaxy S27 Ultra
I became the first woman to train a Kentucky Derby winner
Cherie DeVaux says winning the Kentucky Derby was the culmination of years of risk, reinvention, and relentless work.
‘The patient is a VIP’: Inside Jeffrey Epstein’s close ties to Mount Sinai Hospital
Epstein’s special treatment from the hospital included doctors being at his beck-and-call, including for house calls, and giving preferential treatment to his friends for medical care and job prospects.
How a Texas Democrat rebuked by her party for antisemitism made it to the runoff
Tuesday’s runoff election in Texas’ 35th District has become for many a referendum on Democrat Maureen Galindo’s remarks, which her party has rebuked as antisemitic, and a test of whether national Democrats, at a time of increasing anti-Israel sentiment in the party base, can stop her from advancing to the general election.
NASA just gave SpaceX more crew missions because Boeing can’t certify
NASA has filed a procurement notice announcing its intent to add six post-certification missions to SpaceX’s existing Commercial Crew Transportation Capability contract. The agency said it would order up to three of those missions immediately upon adding them to the contract, with the remaining three available as needed through the end of the International Space […]
How ‘Epstein class’ became a populist battle-cry in US politics
Accusations of elite impunity loom over November’s midterm elections
"They changed the rule recently because [Joel] Embiid …
"They changed the rule recently because [Joel] Embiid …
Belltown SEDUs, developed before that term existed, could become boutique hotel
On the far north end of Belltown, mere steps from Seattle Center, the Vermont Inn was developed in 1994 by California firm Winslow & Wells.
Steyer, Becerra clash over paid influencers in CA governor’s race. What to know
The two leading Democrats have filed dueling state ethics complaints against one another.
Why SoundHound's Oasys Platform Could Be a Game Changer for Its Business
The company's new platform uses AI to build AI.
Swedish prospect forced to pause UFC career due to ‘serious health problems’
Get well soon, “Bane.” Rising Ultimate Fighting Championship (UFC) Welterweight prospect Andreas Gustafsson has reportedly been forced to step away from competition because of serious health complications, leading to his scheduled fight against Daniil Donchenko at UFC Baku next month (Sat., June 27, 2026) being scrapped. According to Swedish outlet Frontkick.com, Gustafsson is currently dealing […]
1969 Hit, Written by Three Rock Legends, Became an Ultimate Road Trip Anthem
The song was released on a 1969 album.
Ballard's brewery district has become a destination. Its future may depend on investments before light rail’s arrival
‘We’re all better because we knew him:’ WALB Sports team remembers TCC graduate, athlete killed in crash
"In honoring Deontavis, let us remember him for his extraordinary spirit, his kindness, and the joy he brought to those around him. "
007 First Light Skips Pre-Load on Steam and Xbox; PlayStation 5 Will Be The Only Platform Due To Mandatory Requirement
007 First Light launches this week on PC and consoles, but if you were hoping to pre-load the game ahead of release so as to experience James Bond's new story as soon as it becomes available, and you are not getting the game on PlayStation 5, you will be disappointed to know you won't be able to do so. "I unfortunately have to confirm that 007 First Light will not have a pre-load on Steam or Xbox," IO Interactive representative Arti_IOI wrote on the game's official subreddit. "The earliest point to download the game on Steam and Xbox will be […]
Hyperreal Politics: When the Simulation Becomes Too Absurd to Satirize
The foreign policy playing out today in the West is so preposterously self-destructive it would be rejected as implausible fiction
From the Cotton Gin to ChatGPT: America’s Innovation Story Starts at the Founding - Small Business & Entrepreneurship Council
National Inventors Month is a reminder that the principles established in the early republic helped transform invention into enterprise and opportunity. By Karen Kerrigan – National Inventors Month is a fitting time to reflect on the role innovation has played in the story of America. From the very beginning, the United States did not treat […]
Why science is becoming less innovative
A huge study suggests ageing scientists are part of the problem
Want to be happier and healthier? Switch up your day with movement breaks
Sitting all day may be killing us, but taking quick breaks may be the way to save ourselves — and become more productive.
Let’s restore meritocracy to the office of the surgeon general
It has become increasingly common to appoint leaders from outside the career ranks of the Public Health Service.
This New Bravo Series Faced Backlash Before It Premiered — But It's One Of The Best Reality TV Debuts In A Long Time
"I’m not looking for representation in every corner of reality television because I don’t believe it authentically exists," the author writes.
Commentary: Illinois mixed strategy and intention to mount a resurgence
Global companies are choosing Illinois because the state is aligning itself with where the economy is going, not where it has been.
Semiconductor decoupling. Powell's politics. Industrializing Ogaden. Free trade and the Magna Carta.
Thank you for opening your Chartbook email. Feliks Topolski, 1907-1989 8th Army’s Front, Italy 1944 Semiconductor decoupling Source: FT One thing that Jerome Powell deeply understood is that chairing the Fed under current conditions is a deeply political job. “Powell has successes and mistakes to his name. But he stands out as having thought more carefully about the Fed’s democratic legitimacy than any chair since Paul Volcker,” said Paul Tucker, a former deputy governor at the Bank of England, referring to the Fed chair who successfully fought the great inflation of the 1970s and early 1980s. … While Powell was at the Treasury in the early 1990s, he watched Alan Greenspan build relationships within the government. That convinced Powell he needed to follow the former Fed chair’s lead and spend more time in Congress than his predecessors Yellen and Bernanke. “The accountability for the Fed runs through Congress,” said Claudia Sahm, a former Fed official who is now chief economist at New Century Advisors. “That’s not just about having people on speed dial — it’s answering questions, explaining policy and getting feedback.” Source: FT Ethiopia’s PM Abiy and Nigerian business tycoon, with Chinese engineering, are driving industrialization in Ogaden/Somali region of Ethiopia. - Michael Masri’s reporting for Africa Report if fascinating. Ethiopia has launched a cluster of large industrial schemes in the Somali region, laying foundation stones for a urea plant and an oil refinery in Gode while opening the first two phases of the Ogaden LNG project. Abiy Ahmed framed the push as part of a broader strategy to link energy, agriculture and industry. “These projects embody more than industrial growth,” he said. “They represent our shared responsibility to harness opportunities, strengthen co-operation and promote peace.” The Gode urea plant, backed by Dangote Group and Ethiopian Investment Holdings (EIH), is designed for 3m tonnes a year. Dangote owns 60%, while EIH holds 40%. Officials say Dangote’s equity totals about $2.5bn, while the state provides land and implementation oversight. Gas from the Calub fields will be piped 108km to the site. Construction is slated for 40 months, with operations targeted for 2028. Ethiopia imports most of its fertiliser, spending more than $1.2bn a year for 1.5m–2m tonnes. Usage was roughly 1.7m tonnes in 2023, almost half of it urea, and demand for 2024–25 is put above 2.4m tonnes. If delivered on time, the Gode plant could cover domestic needs and allow exports to neighbours. Brook Taye, chief executive of EIH, called the venture “a significant milestone in the journey toward industrial self-sufficiency”. Dangote told the groundbreaking crowd that the complex would be integrated with gas supply and a polypropylene unit to support local inputs. He pointed to Ethiopia’s Grand Ethiopian Renaissance Dam (GERD), with a capacity of more than 5,000MW, and noted his group’s cement operations and expansion plans. The Gode refinery is being developed by Golden Concord Group of China. It is designed to process 3.5m tonnes a year of crude and condensate from the Hilala field, with associated storage. Backers say it will ease foreign-exchange pressure from fuel imports and anchor further industrial activity, including a proposed steel smelting site in Dire Dawa. GCL’s chair, Zhu Gongshan, cast the project as “a key step in Ethiopia’s path to energy sovereignty”, underscoring the Beijing–Addis ties. Financing details are still being finalised, but the refinery is central to the government’s energy-security narrative. Source: The Africa Report Dangote’s Ethiopian vision: Dangote began with cement. His crown jewel, Dangote Cement, dominates Nigeria’s market and has 10 operations in other nations in Africa. The formula has been consistent: identify sectors with chronic shortages – cement, fertiliser, sugar – commit massive local investments, and scale up to serve regional demand. Ethiopia was a natural extension of that model. In 2015, Dangote launched the Mugher Cement Plant outside Addis Ababa at a cost of $600m, with an annual capacity of 2.5 million tonnes. The investment gave him a firm foothold in one of Africa’s fastest-growing construction markets. But success came with risks. In May 2018, violent unrest led to the killing of Dangote’s country manager and temporary shutdowns at Mugher. While other investors might have retreated, Dangote doubled down. Today, he is preparing to spend $400m to expand Mugher’s capacity to 5 million tonnes, alongside a new grinding unit near Addis Ababa. Cement is just one market Dangote is targeting. Ethiopia’s enormous state-controlled sugar industry, long plagued by inefficiency and debt, has struggled for years to reform. Its Omo Kuraz Sugar Development Project, touted as one of the continent’s largest initiatives, continues to face delays and mismanagement. … The most ambitious venture of all is the planned fertiliser production complex in Gode, Somali region. Publicised on 28 August 2025, the Dangote Group and Ethiopian Investment Holdings (EIH) deal plans one of the world’s largest single-site urea manufacturing plants. The project costs an estimated $2.5bn and has an estimated capacity of 3 million metric tonnes annually, a rate that would not only render Ethiopia independent, but even a net exporter of fertiliser. EIH, the state wealth fund of Ethiopia, will hold 40%, while 60% is held by Dangote Group. … For Dangote, Ethiopia is a trifecta: Cement demand is projected to grow by 10% annually, its sugar consumption is growing with rapid urbanisation, and fertiliser demand is all but insatiable, given that farming supports the livelihood of 70% of Ethiopians. Source: The Africa Report The stakes for Abiy are high: For Addis Ababa, the $4bn fertiliser project in Ethiopia’s Somali region is no longer simply a manufacturing investment. It is increasingly being framed as a strategic state project tied to food sovereignty, import substitution and the government’s broader attempt to build economic resilience under mounting fiscal pressure. “Becoming self-sufficient in food is our main agenda,” Abiy says during the visit. “Land is needed; we have it. Water is needed; we have it. Human resources are needed; we have it.” The scale is enormous even by African industrial standards. Once operational, the plant is expected to produce three million metric tonnes of urea annually, potentially making it one of the continent’s largest fertiliser complexes. Ethiopian officials say the project now includes a 110km gas pipeline, a 120MW power plant, a polypropylene packaging facility and a two-million-tonne NPK blending plant. For a government grappling with chronic foreign exchange shortages, ballooning import bills and pressure on agricultural productivity, the numbers matter politically as much as they do economically. The decision to anchor the project in Gode is deliberate. Long viewed as peripheral to Ethiopia’s industrial economy, the Somali region is now being repositioned by the federal government as a future irrigation and agro-industrial corridor. Officials argue that the area’s vast land reserves and access to water could eventually support large-scale commercial farming capable of reshaping Ethiopia’s food economy. The government is simultaneously building housing infrastructure for about 5,000 residents near the plant, while officials project broader industrial expansion along the corridor. Abiy goes further, comparing the long-term revenue potential of the Gode development zone with Ethiopia’s flagship state enterprise. “The investments we are making in this Gode area, combined, will generate high revenue for Ethiopia, at par with Ethiopian Airlines,” he says. Source: The Africa Report Feliks Topolski 1907-1982 Topolski’s Chronicle, ‘Nazi Revival’, Vol. 8, Is. 1-2, 1960 HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. Photo by Jakub Dziubak on Unsplash If you are persuaded to click, please consider the annual subscription of $50. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe Grim vision of drone warfare by Sylvie Kaufmann For contributing subscribers only. Subscribe The state of the art in Colbert-studies. Jean-Baptiste Colbert was Louis XIV chief minister from 1661 to 1683 and traditionally seen as an architect of absolutism and mercantilism. Alexander Hamilton later cited him as an inspiration in 1782. Now his legacy is disputed. Daniel Dessert, the chief critic, sees Colbert as the orchestrator not so much of an absolutist state as of an elite cabal. Would be great to have a good English-language review of this important debate. Source: lhistoire Didn’t know that the Magna Carta included free trade provisions Fighting for the right to the beach in Oregon in 1967: Source: Research Gate RAF Station – British and Polish Flags, c. 1940-45, The Ingram Collection Feliks Topolski, 1907-1989 ink and wash If you’ve scrolled this far, you know you want to click: Subscribe
'Decent game' but 'no obvious striker'
We asked for your views on Fulham's victory over Newcastle on the final day of the season which could also have been Marco Silva's last game in charge of the club. Here are some of your comments: Kevin: Silva has been a perfect fit for Fulham, but I'm in two minds about him staying. Our football has become a bit predictable and side-to-side with no obvious striker.
Miles Davis at 100: Musicians explain why he is the GOAT
It's Miles Davis' centennial, and fellow musicians discuss how the shapeshifting innovator transformed music over and over again and became more than a jazz legend. He's a cultural cornerstone.
The Small Business Acquisition Boom Is Creating A New Class Of Entrepreneurs
Discover why business acquisition is becoming the new path to entrepreneurship as more founders buy profitable small businesses instead of starting from scratch.
How Unusual Tuesday became LA's home for misfit artists
In Shadow Hills, LA, 'Unusual Tuesday' at Sun Space offers a unique, church-like haven for experimental and misfit artists.
One UI 8.5 reportedly ruined Dark mode with ugly Gray interface
Samsung users are reporting color palette inconsistencies across Google apps in One UI 8.5 with Dark mode enabled. Reports indicate that the interface of some Google apps has become excessively Gray, which should be optimized. Galaxy users who have updated their devices to the Stable One UI 8.5 build are reporting that the interface of Google apps […]
Purple Row After Dark: Bananas for the Rockies
The Rockies need Coors Field to become an advantage again. Banana Ball may offer a ridiculous solution.
Yoga and meditation show promise for gut health
This systematic review found that yoga and Buddhist meditation were associated with favorable gut microbiota and metabolite profiles in four human studies involving healthy adults. However, because participants largely followed vegetarian or vegan diets and no randomized controlled trials were included, the findings cannot prove that meditation alone reshapes the gut microbiome.
How social media, AI, and surveillance can become health determinants
Digital technologies increasingly shape health by mediating how social, political, commercial, and economic conditions affect people’s lives. This Perspective calls for global collaboration to ensure digital transformation promotes health equity rather than reinforcing existing inequities.
Decatur Street businesses host block party amid construction challenges
The construction began nearly nine months ago, and business owners say it has significantly affected sales.
La Pale: Behind the Brownsville business
BROWNSVILLE, Texas (ValleyCentral) — La Pale may be known for its frozen treats, but the story behind this Brownsville business is even sweeter. La Pale Frozen Fruit Bar has become a familiar name …
Growing backlash over Galindo comments clouds final stretch of key TX-35 Democratic runoff
A Democratic primary runoff in South Central Texas has become one of the most volatile congressional contests in the state, after comments by candidate Maureen Galindo drew condemnation from local Jewish leaders and national Democrats.
Samsung reportedly renaming Galaxy Z Fold 8 and Galaxy Z Wide Fold
Strap in for some confusion this July because Samsung is apparently renaming its highly anticipated new Galaxy foldables.
Business People: Pakou Yang to lead Normandale Community College
EDUCATION The Minnesota State Colleges and Universities announced it has named Pakou Yang as president of Normandale Community College, Bloomington. Yang has served as interim president at Normandale since June 2025. She becomes the…
Nobody told him the world was gonna meme Shrek
The writer and illustrator William Steig lived several lives before his book about a surly ogre became a Hollywood hit.
Will Seahawks repeat as NFC West champions in 2026?
The Seahawks project to win the NFC West division for the second straight season in 2026 in a tiebreaker over the 49ers.
Flavored Vapes Are Becoming More Readily Available. How Safe Are They?
Recent FDA moves reverse a longstanding crackdown on fruit-flavored e-cigarette pods, popular among teens.
More Women Are Starting Businesses Than Ever but Many Are Doing It Alone
More women are becoming entrepreneurs and face the realities of solopreneur life, from freedom to the need for support and sustainability.
Unified track and field team brings Klamath County students together through sports
Klamath County students are building friendships and athletic skills through Unified track and field, an inclusive program that brings together athletes with and without disabilities.
9 Hot Rod Styles Every Gearhead Should Know
There isn't a universal definition of what qualifies as a hot rod, and maybe that's because the culture is built on so many different design styles.
Traveling and living in a van alone has been better than I expected
The thought of traveling and living in a van alone scared me, but solo van life has been better than I expected because of the kindness of strangers.
Democrats Vow a Redistricting Counterpunch but Are Facing Hurdles Republicans Don't
Democrats are poised to finish several seats behind Republicans in 2026 in the nationwide race to redraw maps for the U.S. House. They can catch up in 2028, but only if they overcome a series of redistricting hurdles that the GOP does not face. That's because Democrats, in many states, can draw ...
Across the globe, female politicians are increasingly being targeted...
Across the globe, female politicians are increasingly being targeted with sexualized AI-generated content. For women in politics, sexualized deepfakes have become a tool for humiliation,...
What Families Are Really Spending to Keep Kids in Sports
Family spending on youth sports has surged as year-round leagues, training and travel become increasingly common.
Hims & Hers CEO is plotting new ways to upend traditional health care
Hims & Hers built massive weight-loss markets using telehealth. Peptides, if authorized by the FDA, stand to become a major part of the company’s shift to wellness and longevity.
AI's COVID shutdown moment: SpaceX IPO, Anthropic, OpenAI, Nvidia
From SpaceX's IPO to Anthropic's massive revenue number, it looks like AI just had the day when the hype became real.
Spencer Pratt isn't running on MAGA. He's running on frustration.
Pratt is gaining ground because he hasn't presented himself as a traditional establishment Republican. Instead, he's targeting a very specific voter.
5 science-backed ways parents can build a child’s confidence
Confidence is not something children magically “have” or “do not have.” It is built in small, repeatable moments: when a child is heard without being dismissed, encouraged without being overpraised, and guided without being controlled. Research-backed parenting practices point to a simple truth: children tend to feel more secure, capable, and resilient when home is predictable, warm, and emotionally steady. They also grow stronger when adults make room for effort, autonomy, movement, sleep, and good nutrition, because these basics shape learning, mood, and self-regulation. Here are five science-backed ways parents can help build lasting confidence in children.
Carolyn Hax: High-schooler is an artist but feels pressure to keep up with sport
Teen may want her temporary break from water polo to become permanent — but what will her dad and coach say?
Overnight Science Digest: Our ‘mere presence in a landscape’ affects wildlife behaviors
When Humans Went Away, the Wildlife Strayed – NY Times Massive butterfly swarm becomes the talk of Santa Cruz – SF Gate Scientists reversed memory loss by recharging the brain’s tiny engines – Science…
Carmelo Anthony’s Creative 7 Productions: Strategic Partnership With Utopai Studios To Expand Sports And Entertainment IP
Carmelo Anthony, through his production company Creative 7, has become a strategic partner in Utopai Studios as the companies look to expand original sports and entertainment intellectual property development powered by cinematic AI technology.
Rep. Gluesenkamp Perez explains decision to back policy dubbed ‘Don’t Say Trans’ bill
“I voted for this bill because I believe the answer is to bring families in,” the congresswoman said, in part.
Scientists discover atoms suddenly spinning backward in quantum experiment
Scientists have directly watched angular momentum move through a crystal for the very first time — and discovered a bizarre twist along the way. Using ultra-powerful terahertz laser pulses, researchers triggered tiny atomic rotations inside a quantum material and found that the direction of rotation can unexpectedly flip as momentum is transferred. The strange reversal happens because of the crystal’s underlying symmetry, creating an almost impossible-sounding effect where two rotations combine into one spinning the opposite way.
Indiana official touts the state’s low tax rates, business benefits amid NYC exodus
Indiana Lt. Gov. Micah Beckwith promotes the state’s low corporate tax rates, ‘Hoosier hospitality’ and contrasts it to New York City’s tax-the-rich agenda on ‘Fox & Friends Weekend.’
Disney Helped Make the Star Wars Fandom Toxic for Women
Why 'Star Wars' fandom became socially toxic for women amid Disney’s sequel trilogy backlash, culture wars, and brand fatigue under Kathleen Kennedy.
Who has the better chance of inheriting Trump’s Maga movement: Vance or Rubio?
Analysts say the American vice-president and secretary of state are trying to prove loyalty without becoming political liabilities.
Thinking about death may help you live better
People often avoid thinking or talking about death in the United States, but experts say a better life may require becoming more open about your mortality.
Scientists warn popular vitamin D supplement may have a “previously unknown” downside
A surprising study suggests vitamin D2 supplements may reduce the body’s levels of vitamin D3 — the more effective form of vitamin D. Researchers found D3 not only boosts vitamin D status more efficiently, but may also play a unique role in helping the immune system fight off viruses and bacteria. The discovery is prompting scientists to rethink whether D3 should become the preferred choice for supplementation.
The Meanest Tradition in Entertainment
Celebrity roasts have become crueler in their style of comedy, and almost unwatchable.
Black Women, Beauty Politics and the Power of Rage in 'Is God Is'
In one of the film’s most surreal scenes, the twins at the center of *Is God Is*—Racine, “the Rough One,” and Anaia, “the Quiet One”—pretend to be strippers for a room full of men. But while Racine is welcomed, Anaia is rejected because her scarred face disrupts the men’s fantasies. That moment crystallizes one of the film’s central questions: What happens when Black women refuse to shrink themselves for the comfort of others? In Aleshea Harris’ Gothic revenge thriller, ugliness becomes both a burden and a source of power, as the film transforms into a stereotype-busting meditation on misogynoir, beauty politics and righteous rage. As the twins travel cross-country seeking vengeance against the father who burned their mother alive, Harris layers the conventions of the revenge genre with distinctly Black feminist aesthetics. The film moves between absurd comedy, trap music, intimate sisterhood and brutal violence while interrogating the ways Black women are expected to manage their pain, suppress their anger and perform acceptability. Anaia’s scarred face and Racine’s consuming rage become mirrors of the same misogynoir that shapes Black women’s lives—whether through beauty standards, domestic violence or the demand to remain silent. What makes *Is God Is* so striking is its refusal to look away from the “ugly.” Harris insists that Black women marked by violence, scars and fury still deserve visibility, complexity and even divinity. The film embraces the “angry Black woman” and the “ugly” Black woman as figures worthy of space, power and humanity. In doing so, it expands the tradition of Black feminist filmmaking by asking viewers to confront the realities dominant culture would rather ignore—and to recognize the beauty, dignity and selfhood that exist beyond respectability.
Fernandes named Premier League player of season
Midfielder Bruno Fernandes becomes the first Manchester United player to win the award since Nemanja Vidic in 2011.
Bond breakout? Big effects of bad data. Immigration and thermostatic politics & dad-chat is coming for dad-books.
Thank you for opening your Chartbook email. Anna Airy, A Shell Forge at a National Projectile Factory, Hackney Marshes, London, 1918 Bond breakout - John Authers Across the developed markets, bond markets are staging a slow-motion car wreck. Looking at the drastic moves in the US, Japan, the UK and France, Barclays’ Ajay Rajadhyaksha commented: “Last week, long bonds broke. Not in one country. In all of them. Simultaneously. Four countries. Four different political systems. Four different central banks. But the same trade — “get me out of duration!”” Each country has its own contributing political problems, but the uniformity of the shift out of long-term bonds with high duration makes clear that something broader is afoot. For Rajadhyaksha, it is “simple and uncomfortable.” The developed world “has too much debt, too little fiscal discipline, and no political appetite for fixing either.” If there’s a trigger, it has been the Iran war and the resulting shock to oil supply. Source: Bloomberg G7 countries are now borrowing at rates that were enjoyed by EM in the early 2020s For contributing subscribers only. Subscribe Trade between China and Russia has grown in recent years For contributing subscribers only. Subscribe Big effects of bad data A decade ago nearly nine in ten Americans, when approached, agreed to fill out the Current Population Survey, which is administered to about 60,000 households each month and asks about, among other things, employment. Fewer than seven in ten do so now (see chart 1). For the Consumer Expenditure Survey, which tries to capture 3,700 households monthly, the response rate is down from 68% to 40%. … When the information becomes less reliable, investment decisions get more difficult to make. Some may be delayed, creating a potential drag on the economy. A new working paper by Nicholas Bloom of Stanford University, Erica Groshen, former head of the Bureau of Labour Statistics (BLS) now at Cornell University, and Duncan Hobbs and Michael Strain of the American Enterprise Institute, a think-tank, hazards an estimate. Preserving trust in “the integrity and quality of official statistics”, the authors claim, generates economic benefits of about $25 for every $1 spent on the BLS, the agency with an annual budget of $700m that is responsible for many of these data. To arrive at their conclusion the quartet analysed an ignoble episode in the BLS’s recent history. On August 1st 2025 Donald Trump sacked Erika McEntarfer, appointed as the agency’s commissioner by his predecessor, Joe Biden. The president alleged, without evidence, that the BLS’s steep downward revision to recent jobs numbers had been “RIGGED in order to make the Republicans, and ME, look bad”. In fact, it was the wanton dismissal that looked bad in the eyes of many observers. In the following seven days there was a 50% leap, relative to the week before, in the average value of the index of Economic Policy Uncertainty (EPU), which tracks the number of articles mentioning such uncertainty that are published daily in American newspapers. This was a discernible jump even when compared to the chaos caused by Mr Trump’s trade war in April 2025 and his real one in Iran in the past two months (see chart 2). Based on Mr Bloom’s earlier study with other colleagues of the EPU’s impact on business investment, industrial production and employment, the authors estimate that the jump reduced American GDP by over $100bn (0.3%) and non-farm payrolls by 168,000 (0.1%). Source: The Economist Immigration and thermostatic politics (Sarah O’Connor in the FT) A strange thing happened a year and a half ago. No sooner had Americans elected Donald Trump as president on an explicitly anti-immigration platform than US public opinion began to swing much more favourably towards immigration. … to political scientists who study “thermostatic” politics, this development is no surprise at all. Public opinion often moves against the prevailing party, especially if they are perceived to have gone “too far” in one direction. The phenomenon was first explored in the 1990s with reference to fiscal policy, but in recent years it has been particularly evident in the realm of immigration policy. While these swings in opinion polls can make it seem as if people don’t know their own minds, they can be a useful democratic check on governments by sending bright flashing warning lights when policies stray too far from the public’s comfort zone. The problem comes when politicians misinterpret those signals. When people tell pollsters they want less immigration, or think it is bad for the country overall (or the converse), they are often expressing an opinion about how things appear to be going in that moment relative to their preferences, rather than a deep shift in their underlying views. According to Alexander Kustov, a political scientist, most Americans’ views are quite stable and moderate: they support immigration that is controlled and in the national interest, and oppose flows that are disorderly or under-enforced. In the US, he argues the Trump administration over-interpreted dissatisfaction with high immigration under Joe Biden, and implemented policies that went too far for many voters. “People don’t necessarily change their idea about their ideal immigration policy, but they can react to what the government is currently doing,” he told me. “A lot of people are not happy with what the Trump administration are doing — right now we’re not talking about border enforcement, we’re talking about people not just getting harassed, but killed.” But similarly, he added, pro-immigration advocates would be making a mistake to interpret the recent, more favourable swing towards immigration as a deep-seated ideological shift in attitudes. The recent history of UK immigration policy offers another cautionary tale. After the 2016 Brexit referendum, public concern about immigration fell. This was partly because net migration statistics declined, but also because people felt a sense of catharsis and control, says Sunder Katwala, director of British Future, a think-tank. By 2019, the public ranked immigration as only the ninth biggest issue of concern, according to Ipsos polling. But when the Conservative government liberalised visa routes for students and care workers between 2019 and 2022, that helped net migration to surge. And so, too, did public concern. Today’s Labour government has implemented another sharply restrictive turn in immigration policy. As Kustov and researcher Caitlyn Yates argue, thermostatic public opinion should be a useful check on politicians. Instead it seems to have helped to magnify the pendulum swing in the UK. The government over-interprets and overreacts to a change in public opinion, which reacts in turn, prompting a sudden swing the other way. Source: Financial Times HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. If you are persuaded to click, please consider the annual subscription of $50. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe Anna Airy, Shop for Machining 15-Inch Shells: Singer Manufacturing Company, Clydebank, Glasgow, 1918 Racing for a vaccine … we have been here before! The deadly Ebola outbreak in two African countries driven by a virus species with no vaccine has triggered an urgent search for a potential jab, in a test of troubled global efforts to avert threats posed by emerging diseases. A World Health Organization advisory group is due to would meet on Tuesday to recommend candidate jabs to prioritise for clinical trials, the global health body said. It will assess data including an analysis by the Coalition for Epidemic Preparedness Innovations (Cepi), which was set up after failures in the international response to a previous Ebola crisis. The latest Ebola outbreak in Democratic Republic of Congo and Uganda has infected hundreds of people and killed more than 80, health authorities say. Cepi’s reaction will be a crucial indicator of its progress towards its wider goal of producing vaccines for pandemic threats in just 100 days, despite steep cuts to international health funding. “If there was ever a time that we could show the world why Cepi is needed and show the world why the 100-day mission is needed, it’s now,” Nicole Lurie, the organisation’s executive director for preparedness and response, told the FT. “We’re happy to accept that responsibility, but obviously we need help from partners — particularly financial help in the long run.” DR Congo and Uganda would make the final decision on whether to press ahead with any vaccine candidates endorsed for clinical trials by the WHO experts, the global health body said. “Other ethical and community acceptability issues will be considered,” said the WHO, which declared the latest outbreak a public health emergency of international concern on Sunday. “This will be important to make sure that the trial, if it happens, will be adequately communicated to the population.” Lurie said Cepi had provided information from a survey of research teams and companies working on drugs that might be effective against the Bundibugyo virus behind the outbreak. The organisation hoped soon to announce partners in the quest for a jab, she added, although she declined to give a timescale for when one might be developed. Cepi’s Nicole Laurie said global health bodies were ‘getting some live-fire drills’ with hantavirus and the latest Ebola outbreak. The hunt for a vaccine should be helped by scientific advances including the use of artificial intelligence to find drugs active against viruses, Lurie said. Existing jabs against the Zaire Ebola virus responsible for many previous outbreaks might provide a basis for tackling the Bundibugyo species, she added. “We’ll see how far and how fast we can get,” Lurie said, adding that Cepi had done preliminary work recently on a possible jab for the rat-borne hantavirus responsible for a recent fatal outbreak on a cruise ship. “Both with hantavirus and now with Ebola, [we] are getting some live-fire drills.” Source: Michael Peel in the Financial Times Dad-chat is coming for dad-books. (By Pamela Paul and Jeffrey A. Trachtenberg in the WSJ) They were the go-to gifts for Father’s Day: a book about some little-known chapter of World War II, the sweeping narrative of a shipwreck, perhaps the latest presidential biography. These days, dad books are a dying breed. Nonfiction book sales have been in decline for the past four years, and are now the most challenged segment of the print book market. Publishers say certain types of books still fare well—including celebrity memoirs and religious titles. But in recent years, print sales in such categories as biography, current affairs and business and economics—what publishers refer to as “serious nonfiction” and which tend to resonate especially with men—have fallen considerably. Sales of nonfiction print titles were down nearly 8% through May 9 this year, and sales of books about politics and current affairs were down 19%, according to book tracker Circana BookScan. Publishing has long been subject to cyclical changes, with trends in format and genre taking over bookshelves in grand sweeps. (Remember the adult coloring-book craze? Or the stratospheric rise of romantasy?) But many in publishing believe the decline in serious nonfiction is more existential. “The trend couldn’t be clearer,” said Jonathan Karp, the former chief executive of Simon & Schuster and publisher of the new Simon Six imprint. “This is a sea change and people should wake up and realize we’re living in a new world.” One culprit for the shift: a new media diet for fans of more serious nonfiction. … Sixty-two percent of men and 54% of women consumed a podcast in the prior month, according to a recent survey by Edison Research at SSRS, up from 46% and 39%, respectively, in 2023. “When we have internal meetings to talk about this problem, it always comes around to podcasts,” said Jonathan Burnham, president and publisher of the Harper Group at HarperCollins Publishers. “The man who wants to read American history is now tuning into one of the many good podcasts about history that lends the quiet attention to a serious subject he’s looking for. It makes the idea of sitting down with a 700-page Ron Chernow book less appealing. You’ve scratched that itch.” Source: Wall Street Journal Remarkable report by Novara from the nationalist rally in London in mid May. Anna Airy, Leopard Moth and Plums, 1915 If you’ve scrolled this far, you know you want to click: Subscribe
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