This podcast is sponsored by Tradeu.

Here's something of interest, a multi-asset trading platform that lets you earn 4.5% on your stock account cash balance.

It's made possible with today's sponsor, Tradeu, where you can trade with an institutional edge.

Get access to global markets, institutional grade pricing, and no hidden fees.

Tradeu, your trade, your move.

Explore more at tradeu.com. Your capital is at risk, interest, subject to minimum balance,

terms and conditions apply. This intelligence podcast is brought to you by Deliveroo for Work,

the simple food solution for your business. What perk do teams love most?

Yep, great food.

With Deliveroo for Work, you can choose from thousands of restaurants and keep everyone happy and engaged.

Perfect for lunches to late night meals, pantry supplies and more.

And with one monthly invoice, there's no more chasing receipts. Give your team the

perk they really want. Visit work.deliveroo.com.com. Hello and welcome to the intelligence

from The Economist. In New York, I'm John Fastman. And in London, I'm Jason Palmer.

Every weekday, we provide a fresh perspective on the events shaping your world.

Ukrainian soldiers have made efficient use of anti-tank weapons.

Russian tanks have begun sporting odd metal cages atop the turrets,

intended as protection, but perhaps more accurately described as emotional support armor.

And at this time of year in the Antarctic, it should be time to hunker down for winter.

Instead, it's so warm that scientists at a research station are going for a run.

We look at a remarkable heat wave

and what it means for climate stability the world over.

...