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‘Megafires’ in California, Canada, South Korea and Europe in 2025, but changes to farming slowed spread in parts of Africa“Devastating” wildfires ripped across the wealthier parts of the world in 2025, a study has found, even as globally, the area ravaged by flames fell.Catastrophic blazes claimed lives, homes and jobs last year in California, Canada, Europe and South Korea. But the 335m hectares burned was the second-lowest since 2002, the review found, largely owing to the expansion of African farms that have fragmented landscapes and hampered the spread of large savannah fires. Continue reading...

• The European Central Bank (ECB) is analyzing a significant surge in euro area banks' price-to-book (P/B) ratios projected for 2025. • While high valuations may indicate strong earnings power, the ECB warns they could also stem from investor over-optimism and compressed equity risk premia. • This trend matters because it poses potential risks to financial stability if expectations for economic growth or return on equity are not realized.

Research shows cost of crime for each affected business was on average £83,000 in past yearNine in 10 retailers based in rural locations have been victims of crime in the past 12 months, according to research, underlining the widespread impact of the rise in shoplifting and theft even in more remote parts of the UK.Rural retailers include farm shops as well as stores selling machinery and other equipment. The financial cost of crime for each affected retailer was on average £83,000 during the past year, according to a survey carried out by the commercial insurer NFU Mutual. Meanwhile, one in 20 victims said crime had cost them more than half a million pounds. Continue reading...

• The European Central Bank (ECB) has released balance of payments and international investment position statistics for the euro area and its member nations. • The data highlights consistency in financial reporting, with 13 countries showing discrepancies below 1% of GDP and 14 countries maintaining discrepancies below 2% of GDP on the financial account side. • These statistics are critical for monitoring the economic stability and purchasing power of the single currency across the European Union.

• Shanghai unveiled an AI-powered aviation science fiction theme park in its Lingang New Area, opening to media on Monday, centered on China's Nantianmen Project for immersive aerospace experiences. • The park features interactive exhibits simulating moon landings, hypersonic flight, dual-mode propulsion, metamaterial stealth, directed-energy weapons, and AI decision-making, with a full-scale 'Baidi' sci-fi fighter jet model for pre-flight simulations. • General Manager Zhou Yixiao highlighted hidden games, storylines, and upcoming AI-driven interactive content to enhance visitor engagement.

Data from University of Toronto suggests Canadians are avoiding US cities during the second Trump administrationA new research tool that tracks cell phone activity has found a 42% drop in visitors from Canada to big metropolitan areas in the US that is much higher than official border-crossing data, suggesting Canadians during the second Trump administration are avoiding US cities in particular.Researchers from the University of Toronto said the tool showed a “year-over-year median decline of approximately 42% in Canadian visits to US metropolitan areas – significantly higher than official border-crossing data, which showed a roughly 25% decline”. Continue reading...

US military claims it targeted sites responsible for attacks on its forces and ‘unprovoked’ hostilities by TehranIran has accused the US of violating the ceasefire by targeting two ships at the strait of Hormuz and attacking civilian areas, as the US insists it struck in retaliation.The US military said it targeted sites that it said were responsible for attacking US forces in what it called “unprovoked” hostilities by Tehran. Continue reading...