The Israeli beauty company home to Il Makiage and SpoiledChild is highlighting its artificial intelligence. At some point, it will wash off, columnist Anita Ramaswamy writes.
Sergio Ermotti faces the daunting task of integrating two globally systemic banks. The returning UBS boss’s first big decision, though, has a more domestic focus. The Swiss bank is under pressure to offload Credit Suisse’s local business to ease a political backlash in its home market. By avoiding immediate layoffs, and arguing that the division might not be viable on its own, he might be able to get away with keeping it.
India’s semiconductor dreams are facing a harsh reality. After struggling to woo cutting-edge chipmakers like Taiwan Semiconductor Manufacturing to set up operations in the country, the government may now have to settle for producing less-advanced chips instead. Yet that’s no mere consolation prize: the opportunity to grab share from China in this commoditised but vital part of the tech supply chain could pay off.
Just when you thought it was safe to hope interest rates might soon peak, along comes more bad news. It looks likely that the El Nino weather phenomenon has returned, according to both the U.S. National Oceanographic and Atmospheric Administration and the Australian Bureau of Meteorology. Its appearance usually results in, or exacerbates, floods, heatwaves, water scarcity and wildfires, especially in the southern hemisphere. The damage these inflict on crops and infrastructure is inflationary, putting pressure on central banks to tighten monetary policy. If climate change makes such events stronger and more frequent, supply shocks will become embedded.
The failed mutiny against Vladimir Putin hasn’t just weakened the Russian president. It is also a setback for his most important ally, Chinese President Xi Jinping. At the same time, China is grappling with a weaker economy and confronted by a stronger American-led alliance. It no longer seems certain to become the world’s top power.