Things we learned this week

We rich countries love to talk big about free trade, but aren’t shy of rushing in with a protectionist policy if our industries are threatened: witness the US surprise 35% tariff on tyres from China, introduced last week. Will the WTO investigate? Hmm…

There is great excitement in the oil world at the moment, after a string of ‘significant’ discoveries in the so-called ‘golden triangle’. The headlines all quote the big numbers, so it’s worth adding the consumption statistic alongside it. The biggest, Ghana’s Jubilee field, contains 1.8 billion barrels. Rejoice – that will keep the world’s cars motoring for a further 21 days.

Having dropped to a fraction of their size, the giants of the finance world are well on their way to recovering their losses from the mighty crash. See this New York Times interactive graphic to see how the landscape has changed.

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