The Keel
Past editions
Read past editions of The Keel in full. Policy on Tuesdays. Business on Thursdays.
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Business
Trump's tariff threat puts Europe's carmakers on notice before talks unravel
Washington has revived tariff pressure on European autos, reminding executives that the apparent truce in EU-U.S. trade was always contingent rather than settled. The immediate issue is not only the tariff level itself, but…
4 min read -
Business
Hormuz disruption is shifting from a security shock to a commercial repricing event
The immediate story is that a ceasefire has not restored commerce. That matters because markets can absorb brief military flare-ups more easily than an ambiguous operating environment in which ships may technically sail but…
4 min read -
Business
UK carmakers face a new EV trade squeeze as Europe hardens industrial policy
The immediate issue is not simply tariffs or paperwork, but the EU's shift from open market logic towards bloc-based industrial preference. That puts UK vehicle plants in an awkward middle ground: close enough to…
4 min read -
Business
Hormuz disruption exposes a weak point in Europe’s aviation fuel security
Europe’s aviation sector is signalling that a closure of the Strait of Hormuz would quickly become a governance problem, not just a commercial headache. According to BBC reporting on ACI Europe’s warning, the immediate…
4 min read -
Business
A SpaceX listing could reshape US capital markets far beyond the aerospace sector
SpaceX's expected move toward a public offering marks more than a liquidity event. It would shift a company that sits at the intersection of launch services, satellite communications, defence procurement and industrial manufacturing into…
4 min read -
Business
Gulf insecurity is opening a narrow commercial lane for Europe
The Gulf's security model has shifted from managed ambiguity to urgent partner selection. That matters because governments in the region are likely to favour counterparts that can deliver practical support across defence procurement, cyber…
4 min read -
Business
Hong Kong's film market becomes a test of China's cultural commerce strategy
The opening of FILMART and EntertainmentPulse is more than a trade fair milestone. It is a practical demonstration of how Hong Kong is being positioned as China's outward-facing platform for cultural and creative industries…
5 min read -
Business
Hungary’s generational political split is becoming an operating risk for investors
Hungary’s political centre of gravity still rests with older rural voters, and that is helping Mr Orbán sustain a security-first narrative built around avoiding spillover from the war next door. For business, the immediate…
5 min read