Marx Was Wrong About the “Necessary” Ruin of Small Landed Property

COSCO Denies US Claims Its Container Ships Serve As Beijing's Global Spy Network China's state-owned shipping giant COSCO rejected a report published last week alleging that the company had concealed advanced surveillance equipment aboard its cargo ships to monitor US military communications near the coastlines of target nations, including the US. Reuters quoted COSCO on Friday as calling the allegations "totally unfounded" and false. What Reuters reported on Tuesday: The officials, who spoke on condition of anonymity to discuss the U.S. assessment of the Chinese program, said COSCO has a decades-long intelligence-collection partnership...

Saudi Oil Routes Narrow: Kingdom Eyes Hormuz Export Surge After Pipeline Attack Middle East tensions remain high, with Brent crude futures trading around $105 a barrel and US diesel crack spreads near $110 a barrel amid an ongoing global refining crisis. Disruptions to Russian fuel production from the war in Ukraine are compounding supply constraints across the Middle East. Saudi Arabia's options for maintaining exports have significantly narrowed following a drone attack that shut down its critical East-West pipeline last week. With that alternative pipeline route disrupted, possibly for up to...

"Won't Be Short-Lived": JPMorgan Warns Next Global Food Crisis Could Erupt Next Year JPMorgan is the latest institutional research desk to warn that the next global food crisis may already be taking shape, driven by what its analysts describe as the "Five Ws": War, Weather, Warehousing, Water, and Waste. In a new report titled Food Security Is National Security: A Compounding Storm, a team led by London-based senior global economist Nora Szentivanyi warned that disruptions around the Strait of Hormuz and the emergence of a potentially historic El Niño could weaken...