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The nursery I visited, with its free croissants and Scandinavian-style furniture, seemed like a luxury, but it was just one example of how private equity has quietly infiltrated our daily lives. These firms now own a vast array of essential services, including water companies, apartment blocks, student accommodation, care homes, and children's homes.The problems arise when profit-driven fund managers prioritize returns over social welfare. Nurseries backed by private equity have reported profits up to seven times greater than non-profit nurseries, while spending up to 14% less on staff and experiencing higher staff turnover rates. This model is unsustainable and can leave parents without childcare and workers without jobs.Private equity's business model, which often involves leveraged buyouts and loading debt onto companies, can have disastrous effects on public services. The industry's lack of transparency and accountability makes it difficult to track the flow of money and hold fund managers accountable.The rise of private equity reflects a broader shift in capitalism, where debt-driven speculation has become a dominant route to building wealth. This has led to a zero-sum game where some individuals' gains come at the expense of others. As capitalism evolves, it's clear that those on top have discovered a new formula for building wealth: buying up essential services, loading them with debt, and passing the consequences on to the public.

In the run-up to the state assembly election in Assam, India, the ruling Bharatiya Janata Party (BJP) is employing a strategy that combines Hindu nationalism with welfare schemes to woo voters.The party, led by Prime Minister Narendra Modi, has been accused of pursuing a hardline Hindu supremacist agenda in Assam, coupled with a xenophobic campaign targeting the state's Muslim population, which constitutes 34% of Assam's 31 million people.At a recent election rally in Morigaon district, BJP leaders highlighted the welfare schemes launched by Chief Minister Himanta Biswa Sarma's government, including a direct benefit transfer scheme called Orunodoi, which provides financial aid to women. Nitin Nabin, the BJP's national president, claimed these schemes benefited the Assamese people, especially women.The BJP's strategy in Assam has been described as a 'cocktail of Hindutva and welfarism' by Akhil Ranjan Dutta, a political science professor at Assam's Gauhati University. 'The BJP is experimenting with a brand of Hindutva by co-opting Indigenous armed struggle and cultural nationalism, while solidifying Hindu identity and othering the Bengali Muslims.'The party's election promises have heightened anxiety among Bengali-speaking Muslims, who fear more crackdowns on their community, including a proposal to implement a Uniform Civil Code, which critics say will override Muslim personal laws.Opposition parties and analysts argue that the BJP is mainly milking two cash transfer schemes – Orunodoi and Udyamita – to influence voters in this election. Economist Joydeep Baruah estimates that at least 10 to 15% of the scheme's four million women beneficiaries could vote for the BJP.The BJP's tactics have been criticized by opposition parties and human rights groups, who accuse the party of vote buying and polarizing the electorate along communal lines.

At Augusta National, Justin Rose’s name appears twice on the bronze winner’s list beside the victories of Sergio García (2017) and Rory McIlroy (2025) – both wins coming after playoffs that Rose lost. Only Ben Hogan shares the dubious distinction of losing two Masters playoffs, though Hogan later won the tournament twice outright.Rose’s record also includes a second‑place finish in 2015, four strokes behind Jordan Spieth. The only player with more runner‑up finishes without ever winning is Tom Weiskopf, who was second four times in seven years.Now 45 years old and entering his 21st Masters, Rose cannot predict if he will ever get as close again as he did last year, when McIlroy’s birdie putt on the 18th sealed a one‑stroke playoff defeat.“When you realise you’re that close, you can taste the victory,” Rose says. “I lived it as if I’d won, but without the real positive emotion – I sensed everything.” He acknowledges the mental rehearsal of the “what‑if” scenario while maintaining that he “did everything he could” and can live with the result.Rose explains his mental formula: “You can’t make a major win too important in the moment,” because a career inevitably includes “a little bit of heart‑ache and heartbreak.” He believes that to win, a player must also be prepared to be on the losing side.Despite the setbacks, Rose feels he has already demonstrated the necessary skill set. “I’ve pretty much done what it takes to win. I just haven’t walked over the line,” he asserts, emphasizing that he does not feel the need to change his approach.Recent form offers optimism. Earlier this year Rose set a new course record at Torrey Pines and became the first player in 71 years to win the Farmers Insurance Open wire‑to‑wire. He notes that eight players have captured the Masters after finishing second the previous year, suggesting his odds improve when the field is considered.Rose is also mindful of external narratives. “People are wishing me well and thinking it’s my year,” he admits, adding that he must manage expectations and craft his own story rather than buying into others’ predictions.

Donald Trump has repeatedly framed inflation as a "hoax" and declared that he has "won affordability," yet independent analyses reveal that his touted initiatives deliver only marginal relief for most Americans.One of his most publicized programs, the TrumpRX prescription‑drug platform, lists just 61 medications out of the thousands needed nationwide. Moreover, price comparisons show that a medium dose of Wegovy costs $349 on TrumpRX, while the same dose sells for $163 in Japan and $198 in Germany. Similar gaps appear for diabetes drug Xigduo and autoimmune medication Xeljanz, which are significantly cheaper abroad.The website markets itself as a solution for uninsured, cash‑paying patients, but it does nothing for the roughly 85 % of Americans who already have prescription coverage.On housing, Trump’s executive order banning Wall Street firms from buying single‑family homes is unlikely to move the needle. Institutional investors own only about 2 % of such homes, while the nation faces a shortage of roughly 4.7 million units, according to Zillow. The ongoing war in Iran has also pushed mortgage rates higher, further straining affordability.Gasoline prices have surged since the Iran conflict began, climbing to an average of $4.10 per gallon – a 37 % increase from the pre‑war level of $2.98.Food costs tell a similar story. The Consumer Price Index shows a 3.1 % rise in overall food prices from February 2025 to February 2026, with coffee up 18.4 %, beef up 14.4 %, and fresh vegetables up 5.4 %. Tariffs championed by the administration have contributed to these hikes.International bodies echo domestic concerns. The OECD projects U.S. inflation to exceed 4 % this year, largely driven by the Iran war, a level higher than the 3 % rate recorded at the end of the Biden administration.Trump also claims to have eliminated taxes on overtime and Social Security benefits. In reality, overtime earnings are still subject to federal income tax on the base wage and to full Social Security and Medicare payroll taxes. Only the overtime premium enjoys a partial tax break. Likewise, more than half of Social Security recipients will continue to owe income tax on their benefits, contradicting the administration’s “no‑tax” narrative.Other initiatives, such as the “Trump Accounts” child‑savings program, provide a one‑time $1,000 seed deposit and allow families to contribute up to $5,000 annually. While beneficial for affluent households, the scheme offers limited assistance to families living paycheck‑to‑paycheck.Policy decisions have also raised costs for vulnerable groups. By opposing extensions of Obamacare subsidies, average health‑care premiums have risen by over 20 % for more than 20 million people. Simultaneously, proposed cuts to LIHEAP threaten heating and cooling assistance for roughly 6 million low‑income households.In sum, Trump’s affordability rhetoric serves more as political branding than substantive economic relief. The modest scope of his programs and the persistence of rising prices suggest that most working‑class Americans will see little improvement in their day‑to‑day expenses.

Nepal’s cabinet approved a shift to a five‑day work week for government offices and schools, extending the weekend to both Saturday and Sunday in response to an escalating fuel crisis. Government spokesperson Sasmit Pokharel told reporters that the decision was taken because “the present uncomfortable situation caused by fuel supply” necessitates closing public institutions for two days each week. Previously, civil servants enjoyed only a single day off on Saturday; offices will now operate 9 a.m. to 5 p.m., Monday through Friday. Pokharel added that the government is also examining legal avenues to convert petrol and diesel vehicles to electric power, though details remain pending. Nepal, a landlocked country of roughly 30 million people, imports virtually all of its fossil fuels from India, leaving it highly vulnerable to international price shocks. The ongoing US‑Israel war with Iran has sharply curtailed global oil supplies, causing Nepal’s aviation fuel prices to almost double in a single day. The state‑owned Nepal Oil Corp reported heavy losses on petroleum products despite modest price hikes, prompting authorities to sell half‑filled cooking‑gas cylinders last month to deter hoarding and panic buying. Tourism, a cornerstone of Nepal’s economy, faces a new threat as airlines raise airfares following the steep rise in aviation fuel costs. Higher travel expenses could dampen inbound visitor numbers, compounding economic pressures. The fuel crunch stems from the broader Middle‑East turmoil that intensified after the United States and Israel launched a joint offensive against Iran on 28 February. Tehran’s retaliatory drone and missile strikes across the region have disrupted global markets and aviation, amplifying the scarcity of fuel supplies that ripple to landlocked neighbours like Nepal. By shortening the work week, the Nepali government hopes to reduce non‑essential fuel consumption, ease pressure on already strained energy imports, and buy time for longer‑term solutions such as electrification of transport.

Occupied East Jerusalem – While Holy Week traditionally fills the Old City’s Christian Quarter with pilgrims and worshippers, the streets are now eerily quiet and storefronts remain shuttered.Palestinian shopkeeper Boulos, a man in his mid‑30s who asked to remain anonymous, still drags himself to his modest stall a few times a week, selling religious garments behind a half‑closed door to avoid Israeli orders that mandate closure of businesses in the quarter amid the ongoing US‑Israel conflict with Iran.After six years of pandemic‑related setbacks and successive wars, his business had only begun to recover when the October Gaza ceasefire was followed by a new wave of restrictions. “Before the war with Iran, we barely made enough to survive,” he said. “Now there is no income at all.”His only customer that day was an Ethiopian Christian woman buying a kilo of prayer candles for 35 shekels (about $11.20). “What can 35 shekels do for me?” Boulos lamented, underscoring the stark economic squeeze.Unlike many West Jerusalem shops, which have been allowed to stay open because of nearby bomb shelters, the Old City lacks such protection, leaving Palestinian businesses in the Christian Quarter effectively forced to shut. The area, heavily dependent on tourism, shows the least sign of life.Brother Daoud Kassabry, principal of the College des Frères school, described the scene as “the saddest Jerusalem I have ever seen.” Classes have been suspended for over a month, and the community feels the weight of an unprecedentedly difficult period.For the first time in centuries, Israeli police barred Cardinal Pierbattista Pizzaballa, the Latin Patriarch of Jerusalem, and other senior clergy from entering the Church of the Holy Sepulchre for Palm Sunday Mass. The Latin Patriarchate called the incident “unprecedented in centuries.”At a press conference, Cardinal Pizzaballa emphasized that while “all celebrations” have been cancelled for security reasons, “no one, not even the Pope, can cancel the liturgy of Easter.”Following the incident, leaders from Italy, France and the United States condemned the police action. Israeli Prime Minister Benjamin Netanyahu later defended the measure as a safety precaution, citing the absence of bomb shelters near the holy site, despite the cardinal’s residence being only metres away.Netanyahu’s justification raises questions about the long‑standing “status‑quo” arrangement that places custodianship of Christian and Muslim holy sites under the heads of their respective religious institutions and Jordan’s Waqf. Palestinian Christians interpret the rhetoric as evidence of an increasingly hostile environment under Israeli control.Bishop Emeritus Munib Younan recounted being spat on by Jewish yeshiva students in the Old City without any legal consequences. He now prefers to attend services in Bethlehem or a small church outside Jerusalem, where he feels “no one is pointing a gun at you.”“They want to show the world that this country is only meant for them – not Christians, not Muslims,” Younan said, reflecting a sentiment shared by many locals.Netanyahu later announced that religious ceremonies at the Holy Sepulchre would be permitted during Holy Week, but only for clergy, keeping the general public out. Observers noted the inconsistency, pointing out that Muslim worshippers have been barred from the Al‑Aqsa compound since late February, including during Ramadan, with only minimal international rebuke.The cumulative restrictions have crippled the already dwindling Palestinian Christian community, which now makes up less than 2 % of the population in Israel and the occupied territories. Traditional events such as the Way of the Cross procession and Holy Fire Saturday have been cancelled, eroding communal cohesion.Father Faris Abedrabbo of the Annunciation Latin Parish linked the current hardships to the Passion narrative, urging congregants to view their suffering through the lens of “steadfastness” – an active, spiritual resistance rather than passive endurance.Economic despair is prompting a new wave of emigration. Bishop Younan reported that many young Christians ask for help obtaining visas to the United States, Canada or Australia, fearing there is “no future” in Jerusalem. Boulos, the shopkeeper, admits he has considered leaving, noting that “they try to make us lose hope and abandon this land.”Despite the bleak outlook, Boulos continues to visit his shop, saying, “I come here to prove to myself that I still have hope, even if it feels endless.”

American consumers are watching gasoline and airline fares climb, while economists warn that the war in Iran will keep pressure on prices across the U.S. economy.“The good old days are gone,” said Christopher Tang, a professor at UCLA’s Anderson School of Management who studies global supply chains. “We see gasoline prices rising now, but that’s only the tip of the iceberg; everything will become more expensive.”Since the conflict began in late February, crude oil has surged past $110 a barrel. The rally is tied to Iran’s leverage over the Strait of Hormuz, a narrow chokepoint through which roughly 20% of the world’s oil passes.In a recent address, President Donald Trump claimed the United States is “totally independent of the Middle East” and has “plenty of gas.” However, Brookings Institute’s energy‑security director Samantha Gross reminded listeners that oil is a globally traded commodity and the U.S. still imports significant volumes, meaning American consumers will face the same high prices as the rest of the world.Iran has either halted shipments through the strait or imposed a toll of up to $2 million per vessel. Tankers are forced to take longer routes or pay the fee, inflating logistics costs for all downstream users.Major logistics players are already passing those costs on. Amazon announced a 3.5% surcharge for third‑party sellers, while UPS and FedEx have introduced fuel surcharges exceeding 25%. The United States Postal Service will add an 8% surcharge to transportation rates starting 27 April, noting the charge is “less than one‑third of what our competitors charge for fuel alone.”When the prices go up, they rarely come back down— Christopher Tang, UCLACountries have dipped into strategic oil reserves to blunt the shock, but economists such as Virginia Tech’s David Bieri warn that refilling those stockpiles will require buying oil at today’s elevated prices, keeping the upward pressure on the market.Higher oil costs ripple beyond fuel. Crude is a key feedstock for chemicals, pharmaceuticals and fertilizers, meaning the surge could translate into higher prices for prescription drugs and groceries.Cornell University’s agricultural economics professor Christopher Wolf explained that diesel, a major input for farm equipment and fertilizer production, is also climbing, raising the cost of both crop cultivation and livestock raising.Retailers and food processors are already adjusting. “If we anticipate higher costs, we start raising prices early to avoid a sudden shock later,” Wolf said, describing a “rational expectations” approach.The Independent Grocers Alliance warned that a 10‑15% rise in fuel costs could lift food prices by 2‑4% by mid‑summer, underscoring the broader impact on household budgets.Although President Trump expects the United States to exit the Iran conflict within two to three weeks, experts agree that even a swift resolution will not instantly reverse the price spikes.The strait’s strategic importance means the political risk premium on oil will linger. “You never know when this could flare up again,” said Northeastern University’s Ravi Ramamurti, adding that the effect is likely to be persistent.As Tang summed up, “When the prices go up, they rarely come back down.”

New research by Cleanview and a subsequent confirmation from Google reveal that the tech giant is collaborating with Crusade Energy to develop a 933‑megawatt natural‑gas power plant in the sparsely populated Armstrong County of the Texas panhandle. The facility will serve the Goodnight AI‑focused datacenter campus, signaling a notable departure from Google’s long‑standing clean‑energy narrative.The plant, slated for off‑grid operation, is intended to power at least two buildings on the Goodnight site. Satellite imagery commissioned by Cleanview shows construction already under way, following a permit application filed in January.According to the 465‑page permit filing, the plant could emit as much as 4.5 million tons of carbon dioxide per year—roughly the same amount released annually by the entire city of San Francisco. This emission level underscores the environmental stakes of the project.Cleanview founder Michael Thomas described the venture as “one of the first direct investments in fossil‑fuel infrastructure” he has seen from Google, suggesting a strategic pivot away from the company’s historic climate leadership.When queried, Google spokesperson Chrissy Moy did not deny the partnership but clarified that “we don’t have a contract in place for the plant in Texas.” She noted that negotiations are ongoing and pointed to a separate wind‑farm partnership with Serena Energy in the region. Crusoe Energy declined to comment.The Texas project is Google’s third known involvement with gas‑fuel facilities in recent months. Earlier in October, the company announced an agreement to purchase power from a gas plant in Illinois, and documents obtained in May revealed exploratory talks on a large‑scale gas project in Nebraska.Despite the shift, Google maintains that natural gas does not conflict with its climate objectives. The firm argues it is moving from a strategy of buying carbon credits to one of “building the grid” to secure carbon‑free energy for its operations.At a recent energy conference in Houston, Google’s head of advanced energy, Michael Terrell, declined to elaborate on how natural gas aligns with the company’s sustainability roadmap.From carbon‑free promises to “climate moonshots”Google has long positioned itself as a climate leader, setting a 2020 goal to achieve net‑zero carbon emissions across all operations by 2030 and investing heavily in wind, solar, geothermal and nuclear projects. However, the rapid expansion of AI workloads has strained those commitments.The 2023 sustainability report noted that Google was no longer “maintaining operational carbon neutrality,” and a 2024 update reported a 48 % rise in greenhouse‑gas emissions since 2019, driven largely by datacenter energy demand.By 2025, the company reframed its emissions targets as “climate moonshots,” acknowledging the growing complexity of meeting its 2030 ambitions amid AI‑driven uncertainties.Google is not alone in this trend. Competitors such as Meta, Amazon and Microsoft have also turned to natural‑gas‑powered facilities to meet the soaring energy needs of their AI infrastructures, highlighting a broader industry tension between rapid AI deployment and climate pledges.Thomas of Cleanview summed up the situation: “The race to build AI is creating a new tension with climate goals that these hyperscalers have long championed.”

It's been 12 months since Donald Trump's 'liberation day' on April 2, 2025, when the US president introduced tariffs on nearly every country the US did business with. The move sent shockwaves through the global economy, causing chaos in Washington and beyond. Experts say that if Trump had spent the last 14 months on the golf course instead of in the White House, the US economy would be in a better place. The wholesale slashing of government jobs and defunding of US aid agencies had already signaled that Trump was in a hurry to upset institutions he considered profligate or useless. Investors quickly understood that chaos was an essential tool in Trump's armoury. Almost as soon as he was inaugurated, there was a steady decline in the value of the dollar against other currencies. Investors sold assets denominated in dollars and bought assets elsewhere: Europe, Asia, South America. Dario Perkins, the head of global research at the consultancy TS Lombard, said: 'If you think that discouraging investors from buying assets in the US is a victory, then you don’t believe in a growing economy.' He added that Trump's policies had led to a decline in US manufacturing jobs and a growing trade deficit. The data supports Perkins' claims. US companies stopped hiring almost as soon as liberation day was announced. Significant revisions in February to data covering 2025 pushed payroll employment down by 403,000 jobs, resulting in the addition of just 181,000 jobs last year. This small boost is set against the 163 million people who are employed in the US. Russ Mould, the investment director of the British stockbroker AJ Bell, said: 'America is still home to the world’s largest economy and its reserve currency, as well as the globe’s largest equity and bond markets, but investors continue to reassess their exposure one year on from liberation day.' The next few months of steadily increasing confidence levels followed probably the calmest period in the second Trump presidency. But sentiment began to fall again in the autumn as the White House battled with Congress over the federal budget deficit and much of the public sector was shut down. A poll by the University of Michigan showed consumer confidence at a near record low at the end of 2025. A six-month moving average produced by the Conference Board showed every generation, from baby boomers to gen Xers, had lost confidence in the economy over the past year. Trump’s liberation day executive order stated: 'The decline of US manufacturing capacity threatens the US economy in other ways, including through the loss of manufacturing jobs.' However, the US manufacturing sector shed 100,000 jobs between January 2025 and March 2026. The ratio of manufacturing workers to total nonfarm employment fell to the lowest point since 1939. Bryan Riley, the director of the National Taxpayers Union Foundation’s free trade initiative, said: 'One year after liberation day, the evidence is in. Tariffs failed even by the Trump administration’s own terms. They did not shrink the trade deficit, did not revitalise manufacturing and did not help farmers. It would be a mistake to replace one set of failed tariffs with another.' Some major US companies have redirected their investments to Europe, but China has proved to be one of the main beneficiaries. In the year to February 2026, China’s industrial profits increased by 15.2%. It's a boom that Beijing will struggle to repeat should Chinese companies face fuel and energy shortages and price hikes. But the decline of two major powers can only be to China’s gain.