Business

Last year, Sphere Entertainment announced its plan to bring “mini Spheres”, with 5,000-seat capacity, to other locations. González-Piñero says he is not sure such facilities would suit cities such as Milan or Amsterdam. It might make more sense to think of the Sphere as a one-off, a Las Vegas-specific attraction, he suggests.

Alicia Garcia Herrero, chief economist for Asia Pacific at Natixis CIB, said while 1970s oil shocks sent prices sky high, they only cut global supply by 5-7%. In contrast, the current crisis affects 20% of the world’s supplies, “dwarfing the 1970s shock”, she said.

Olly Harrison, who farms in Tarbock, on Merseyside, said he bought his fertiliser for a good price last year and now believes – due to a wet and cold spring and limited growing days left, added with the costs of diesel for machinery – he may be better off not planting.

For Yunji, that means proving its robots can operate in real-world international settings. The company, which builds its service robots for hotels, hospitals and factories, listed in Hong Kong in October of last year, as it sought to widen its investor base beyond the mainland.

In recent weeks, giants including Google, Amazon, Meta, as well as smaller firms such as Pinterest and Atlassian, have all announced or warned of plans to shrink their workforce, pointing to developments in AI that they say are allowing their firms to do more with fewer people.