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Why war isn’t always good for defence stocks

They win only if governments want just enough weapons—but not too many

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The nightmare war scenario is becoming reality in energy markets

The longer the war in the Gulf, the harsher the global economic fallout

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The Economist is wrong on the Robin Hood state

Taxing wealth transfers more would raise a lot from the rich and be good for democracy, writes Ray Madoff

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Are Gulf states running out of missile interceptors?

Their rulers insist not but they are burning through their stockpiles fast

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The Iran war is a jolt to Dubai’s business model

Can the emirate keep people and investors coming?

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Blighty newsletter: Iran exposes three harsh truths for Britain

Annoying Donald Trump isn’t Sir Keir Starmer’s only problem, writes Daniel Franklin, our senior editor

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China’s tropical free-trade experiment

Our weekly podcast on China. This week, why the Communist Party is betting big on an island backwater

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What France’s new nuclear-arms doctrine means for Europe

Emmanuel Macron will build more warheads and include allies

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Checks and Balance newsletter: The new cancel culture on campuses

John Prideaux, our US editor, reports on the pressures facing American universities in the Trump era

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France’s digital tsar responds to our argument that teenagers should continue to use social-media platforms

How best to protect young people in a digital environment that crosses borders and constantly evolves

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How to hear an album before it drops

Fans are flocking to listening parties