Coastal Flood Math Becomes a City Budget Problem
The climate story is no longer the rare flood; it is the bond schedule built for the old odds.
Dara Osei
Bureau: London
Hormuz Shipping Rules Remain Missing
If passage is normal, the rulebook should be public; its absence keeps shippers watching the strait.
Data-Center NIMBY Becomes AI Capex Check
The AI bill is paid in power lines, water fights, and local veto points before it reaches earnings.