TicketMaster executives privately admit what their clients have suspected for years:

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Slack messages exchanged in 2022 between two regional directors by Live Nation (declassified this past March 12 in full antitrust trial) describe their own clients as “idiots” from whom they are “robbing hands full.” These are not mere private outbursts: they are involuntary testimony to how a company that controls 80% of the primary ticket sales market in the US works. It is no surprise to those who have been paying parking fees of $250 for a Kid Rock concert for years. But seeing it in writing has a special weight. What they said. Ben Baker, then regional director of ticketing for Live Nation venues in Florida and Jeff Weinhold, senior director in the Virginia area, had been exchanging views on their work for months. In one conversation, Baker boasted about what he was doing with the add-ons that raised the base price of a Kid Rock concert in Tampa Bay. Baker wrote that the customers were “stupid” and that he almost felt sorry for taking advantage of them. Weinhold responded that he had VIP parking for $250. Baker’s retort: ​​They were “robbing them hand over fist, baby, that’s how we do it.” and there is more details: Baker speaks of income of $124,790 in upsells (upgraded tickets, VIP tickets, or better seats) for a Dead & Co. concert, followed by Weinhold’s suggestion to dynamically raise prices before sending the marketing email. “LOL. I’m evil,” Weinhold wrote. Baker used the internal term “dyn up” to refer to raising prices through dynamic pricing. There are also conversations about designing the purchasing interface so that artist names appear next to the upsellsa technique that Baker himself admitted to having “stolen” from the competition. Beyond the anecdote. Live Nation tried to keep the messages from reaching the jury. Their lawyers downplayed them, and when they became public, the company issued a statement attributing them to “a junior employee talking to a friend.” It is not clear Which of the two regional directors with responsibility for pricing are referred to as “junior.” Lawyers for the plaintiff states argued precisely that they are not irrelevant messages: artists have no interest in milking their fans, but Live Nation can do it because artists have nowhere else to go. The giant controls approximately 80% of the ticketing in large US venues and 60% of concert promotion, according to data cited during the trial. The construction of the empire. This vertical concentration was not built overnight. The merger between Live Nation and Ticketmaster was approved in 2010 and created a model in which the same company promotes the tour, manages the venue and sells tickets. After, Ticketmaster also began to charge commissions for resale among fans, which was especially noticeable during the pre-sale of Taylor Swift’s ‘Eras ​​Tour’ in 2022, when the collapse of the system led to a Justice Department investigation and hearings in Congress. And the dynamic pricing model has already been successfully exported (pecuniary) all over the world. The agreement. On March 9, the DOJ and Live Nation agreed to a surprise settlement that ended federal involvement in the trial without the judge being informed until the last minute. The terms required the company to limit its service fees to 15%, cut exclusive contracts with venues to four years, divest from 13 amphitheaters and open its marketplace to competitors like SeatGeek. The agreed payment amounts to between 280 and 300 million dollars for the states that accept the agreement. What the pact does not contemplate is the separation of Live Nation and Ticketmaster. And now. More than 27 states, including New York, California and Illinois, rejected the federal settlement and decided to pursue the lawsuit on their own, since the crucial monopoly issue had not been addressed. Furthermore, the case is not exclusively American. In September 2024, the European Commission launched an investigation into Ticketmaster following the Oasis pricing scandal in the UK, where tickets went from £135 to £350 in a matter of minutes during the sale. The Live Nation model is neither an accident nor a deviation. Baker and Weinhold’s chats reveal, and this is the truly uncomfortable part, that company policy has been exactly what it seemed to be for years. In Xataka | Spotify killed the record and the industry pivoted to concerts. Netflix killed cinema and the industry was left with a “space crisis”

The Supreme Court ended up seeing the obvious

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The last straw for a worker is to have been doing the same job for more than 16 years in the same place and with the same colleagues, and to be fired for not having passed the trial period. It seems like a joke, but it is exactly what happened to the employee of a notary office in Madrid. What came next was a judicial battle that reached the Supreme Court, and ended up agreeing.​ Although taken to the extreme, this case is no exception. In Spain, companies terminated more than a million contracts in 2025 alleging that the worker had not passed the trial period, and the data suggests that behind many of these dismissals there is something else than employees who did not perform enough.​ Sixteen years in the same place. Just like is detailed in the sentence of the Supreme Court, The worker had been working in the same notary office since May 2004, chaining contracts with different notaries who occupied the position throughout that period. In September 2019, the titular notary was assigned to another location and was offered the choice between going with him to Jávea and keeping his contract in force, or collect your compensation for the cessation of its activity. The employee opted for compensation of 10,071.20 euros.​ A few months later, the new notary contacted him to enlist his services and that of his former colleagues at the same notary office. In February 2020, he signed a permanent contract with this new notary with a trial period of six months. It should be noted that the new notary was employing the majority of the previous staff, he continued in the same office, with the same furniture, computers and software as all his predecessors. The pandemic and layoff. With the state of alarm due to COVID-19 newly declared, the worker and two colleagues went to the notary’s office to remind the notary that he must apply the health measures dictated by the authorities: shifts, gel, masks and limiting activity to urgent matters. The notary’s response, recorded literally in the sentence, was that “this is not a cooperative.” That same afternoon, the three received their dismissal letters for not having passed the six-month trial period contemplated in their indefinite contract.​ The case took five years to resolve. In December 2023, a first court ruled in favor of the worker: if the new notary had assumed the staff and resources of the previous one, there was a transfer of the company and the agreed trial period was void. There is no point in testing the ability of someone who has been in the same position for 16 years. Finally, and after several appeals before different instances, in January 2026 the Supreme Court confirmed its verdict: the trial period was not valid and sentenced the notary to reinstatement of the employee or compensation of 54,294.42 euros.​ One million layoffs a year. This case is striking because of the extreme and obvious nature of the situation, but it is nothing more than an example of an upward trend among companies to avoid compensation for unfair dismissal. According to report data ‘Balance of the labor market in 2025‘ Prepared by the USO union with sources from the SEPE, INE and Social Security, Spanish companies terminated 1.02 million contracts alleging that the worker had not passed the trial period. This represents an increase of 2.34% compared to 2024 and 79% more than in 2021, before the last labor reform in which permanent contracts were reinforced compared to temporary contracts.​ What it does especially that data is relevant The thing is that it is not a general increase: it is mainly the indefinite contracts that are behind this growth. Before the labor reform, in 2021, only 13% of all dismissals for not passing the trial period corresponded to permanent contracts. In 2025, that percentage had already risen to 75% of layoffs. To put this figure in a context, dismissals of permanent workers grew by 137% in the same period, while dismissals of permanent workers in a trial period grew by 864%, to exceed 720,000 cases. “At USO we have always said that it was more than suspicious data. Suddenly, there are many people who are not worth the job for which they are hired. It is clear that the trial period is an escape route to hire people temporarily and not even have to compensate them. But it has been seen that, even so, not only is its use abused, but it is twisted and used illegally,” warns Joaquín Pérez, general secretary of USO. The gap left by the storms. To understand the reason behind this sudden use of the trial period to argue for dismissal, we must take into account a detail in the regulations that governs severance pay: When an employee does not pass the trial period, the company does not have to pay him any compensation or justify his termination of the contract. On the other hand, for a dismissal, it must be justified and, depending on the case, compensation must be paid. Firing with the excuse of not having passed the trial period is even more profitable for the company than letting it expire. a temporary contractsince in this case a compensation of 12 days per year worked is applied. Therein lies the trap that the unions They have been denouncing for some time. With the latest labor reform, companies can no longer chain temporary contracts so easily and are forced to hire indefinitely in many more situations. Terminating an indefinite contract during its trial period is cheaper than any other form of dismissal, and hardly requires any paperwork. As and as they pointed from The Economistthis fraud of law would be producing a precariousness of permanent jobs. The Ministry of Labor launched inspection campaigns in 2024 and 2025, but in January 2026, layoffs for this reason continued to grow by 1.3% compared to the same month of the previous year. In Xataka | Companies … Read more

The southern entrance to the A5 underground is already 80% excavated, and there is a culprit that has speeded up the work: the soil

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Allow me, if you don’t mind, to use an expression that I have been wanting to use for a long time: there is already light in the tunnel. That’s right, then the burial of the A5 Move against the clock to meet deadlines. And the goal is to open traffic in November. The southern tunnel of the Extremadura highway has already exceeded four fifths of its route under Madrid. There is less left, largely due to the technical innovations that have made it possible. The largest work in Madrid right now. The burial of the A-5 is, today, the largest infrastructure under construction of the capital. Under the streets that connect Madrid with the exit to Extremadura, two tunnel boring machines work in parallel to bury one of the historic entrances to the city and thus free up surface space for urban use. Where is each tunnel. The work runs in two independent galleries. The southern tunnel, through which vehicles entering Madrid will circulate, has been excavated for approximately 80% of its length. The northern tunnel, the exit, is advancing at a slower pace and has completed about half of the route. Although the asphalt has not yet been laid, the interior appearance of the most advanced gallery already allows a fairly clear idea of ​​what the final infrastructure will look like, according to transfer to Telemadrid the technical teams that supervise the work. The key to acceleration: the ground. As the media points out, a new construction system applied to the tunnel floor has made it possible to speed up both the excavation and the consolidation of the infrastructure. For this reason, and because of the work that is being put into the work every day, it has been possible to reach 80% without major delays, maintaining the schedule. 14 emergency exits. Parallel to the main gallery, the work includes the construction of 14 emergency exits, one every approximately 200 meters. Each of them is accompanied by technical rooms where the systems necessary for the operation of the tunnel will be housed, including geothermal installations that will improve its energy efficiency. Jump to the surface. Starting in September is planned that the works also extend abroad, with urbanization actions in the area around the A-5. The idea in this phase will be to definitively integrate the infrastructure into the surface, with the aim of reducing traffic outside and taking advantage of the area for new public spaces. November, the date marked on the calendar. With the tunnel boring machines still in operation, the goal is for vehicles to be able to travel through the new tunnel before the end of the year. November is the date currently managed by those responsible for the work. So we just have to wait a few more months to call it a day. one of the heaviest works of these years in the capital. Cover image | Madrid City Council In Xataka | Portugal had to choose where to take its AVE first. And between Madrid and Galicia, it is very clear

the absolute dominance of uranium

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In late 2022, as he secured his third term in office, Chinese President Xi Jinping issued a serious warning to his top brass: they should prepare for “stormy seas” and “worst-case scenarios.” The party leader was obsessed with the crises of the “gray rhinoceros”obvious dangers but for which one is often not prepared. Today, with the Middle East submerged in a deep war that obstructs vital trade routes, the Asian giant’s resilience and energy strategy face an unprecedented litmus test. At the heart of this geopolitical storm is not only oil, but also “radioactive black gold” – uranium. A suffocation point. To resist this impact, China’s Ministry of Finance has budgeted 110.68 billion yuan (about $16 billion) for resource storage in 2026, an increase of 8.1% from the previous year. As Even Pay, director of the strategic advisory group Trivium China, explains to the Financial Timesfor decades Western economists criticized the inefficiency of maintaining these gigantic reserves, but the current crisis has completely vindicated Beijing’s strategy. A giant thirsty for uranium. However, at the heart of this geopolitical storm are not only fossil fuels, but also the “radioactive black gold” – uranium. The vulnerability of sea routes has accelerated Beijing’s urgency to escape its dependence on oil. The Chinese nuclear program is advancing at a dizzying pace. At the end of 2024, the country had 58 nuclear power units in commercial operation and 27 under construction. In fact, the government approves between ten and eleven reactors a year, with the goal of double its capacity by 2040. The problem? China produces very little uranium. According to World Nuclear AssociationIn 2023, national production was barely 1,700 tons (4% of the world), being forced to import about 22,000 tons the following year. As emphasized Bloombergthe country depends on imports to satisfy more than 70% of its domestic demand for this fuel. The strategy at hand. To overcome this deficit and prevent its nuclear sector from suffering the same strangulation as oil, Beijing has deployed an unprecedented financial, geological and technological strategy: Financial muscle: In December 2025, China National Uranium Co., the only company with rights to extract this element in the country, debuted on the Shenzhen stock exchange. According to Bloombergits shares tripled in its premiere, raising some 4.1 billion yuan (570 million dollars) that will be used to boost domestic and foreign mines. The Treasure of Ordos: Salvation could be under the sand. As reported by the specialized media Futurethe discovery of a monumental deposit of 30 million tons of uranium has been estimated in the Ordos Desert, in Inner Mongolia. China has managed to develop leaching technology on site to extract this mixed material in sandstone in an economically viable and environmentally friendly way. “Fishing” uranium in the ocean: With demand expected to exceed 40,000 tons in 2040, China has looked at the sea. China National Nuclear Corporation (CNNC) announced a historic milestone– The successful extraction of uranium at the kilogram level from seawater in a real marine environment. Land alliances: To avoid maritime blockades, China seeks border allies. According to the magazine The DiplomatMongolia is trying to develop its critical minerals sector – such as the huge Zuuvch-Ovoo deposit operated by France’s Orano – and China is emerging as the natural customer due to its geographical proximity and railway infrastructure. Beyond uranium. Beijing’s plan is not limited to securing traditional uranium. As we have explained XatakaChina has already commissioned the TMSR-LF1 reactor in Gansu province, which uses molten salts and thorium. Thorium is three times more abundant than uranium in the Earth’s crust, giving China an immensely rich “plan B” within its own borders. On the other hand, nuclear energy is no longer just a source of electricity. In January 2026, the Xuwei project started in Jiangsu province. How we advancethis pioneering project combines third and fourth generation reactors to produce steam at very high temperatures for the petrochemical industry, with the aim of replacing more than 7 million tons of coal per year. The century of the Chinese atom. The war in the Middle East has not stopped China’s ambitions; rather, it has validated the government’s obsession with economic security and preparedness for protracted crises. As Western powers try to rebuild their nuclear industries, China has gone into full action. From the depths of the Ordos Desert to the waters off its coasts, the Asian giant is rewriting the rules of the game. It is no longer just about surviving global instability, but about securing the fuel necessary to dominate the energy landscape of the 21st century. Image | World Economic Forum and IAEA Xataka | Nuclear energy has generated electricity for decades. China is reinventing it for something else: the industry

I used to make Word documents. Now I make apps even for the silliest things

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In Xataka, our colleagues were organizing some procedures. Some that, until now, we were doing in the cheesiest way possible: through bullets in Slack. Until my colleague, Javier Pastor, decided to create an application with Claude Code and glm-47. It reminded me a lot of my case. For a couple of months now, with Claude fever, I have gone from creating Word documents, Excel lists or even notes, to creating applications for everything. The era of vibe coding. We are facing a completely different era. one in which we don’t need to know about programming to create simple solutions that make our lives easier. This type of apps, Claude’s artifacts or websites have nothing to do with what a developer could do manually, but they are a fantastic solution for executing tasks that, until just a few months ago, were quite tedious. You don’t even need a complex prompt: just tell us what you want in natural language, and the apps will take care of it. Claude and Antigravity. In my particular case, I have been obsessed with what Claude calls artifacts for a few weeks now. It is editable and executable content locally (although it can also be uploaded to the web), super simple interfaces that are created in just over five minutes. Recently, I was asked to correct a 21-item clinical test with reverse scores where it was especially relevant to know the score on each item, and to scale according to the score in which state the interviewee was. It seemed completely anachronistic to me to do this process by hand, so I got to work. Be clear about where there is failure and where there is not.. I still don’t trust AI because of its ability to hallucinationbut there are aspects where it is practically impossible for it to fail. One of them is simple mathematical calculations: test corrections, random numerical generation apps, automated records… The possibilities for creating tools in which it is practically impossible for AI to fail are countless. This is just a simple example of a questionnaire with automated correction and interpretation (there are dozens of websites trying to achieve the same thing with much less elaborate interfaces). But I have used it to create my own social media analysis systems, automated calendar management with Google Drive and Sheets, etc. There is no turning back. The results of apps made using vibe coding are fascinating. From Open Source platforms to set up a homemade Google Photos to obsessions such as being informed about the harshest news through interactive websites vibecodeadas. They are relatively easy to create (they usually take no more than 20 minutes), open the door to a world of possibilities and, for the most nerd (and denied in programming, as a server), they are the new toy in the age of AI. In Xataka | Vibe coding wants to help Open Source. But developers don’t want AI botches

A woman spent six months in prison because an AI made a mistake. The terrible thing is that no one checked it

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Angela Lipps is a resident of Tennessee (USA) who has never been on a plane or taken a trip to other states in the country. Even so ended up in a security cell 2,000 km from her home for a terrifying reason: AI facial recognition software decided that her face matched that of a scammer operating in North Dakota. we have it. It all started with the clue given by the security cameras. Fargo police were investigating a bank fraud in which a woman used fake military IDs to withdraw huge amounts of money. The detectives in charge of the case decided to entrust the work of recognizing the images from the security cameras to a AI facial recognition softwareand after the analysis the system returned a name: Angela Lipps. An agent took a look at her social media, decided that her body and hairstyle matched those of the suspect, and signed the arrest warrant. like in the movies. A US Marshals team showed up at Lipps’ home in Tennessee and He detained her at gunpoint. She was babysitting four children, but that didn’t matter: she was treated like a fugitive from justice. They did not ask him any prior questions, nor did they compare his version. They didn’t even have physical evidence that placed her in North Dakota beyond what the facial recognition system had said. And since the AI ​​said it, it had to be true, right? Six months in prison (and in limbo). Being considered a fugitive, Lipps was not eligible for bail, and spent 108 days in a Tennessee jail waiting to be extradited to a state she had never visited. Then, in late October, she was transferred to a prison in North Dakota. In all that time, no one at the Fargo Police Department bothered to even check to see if the suspect had an alibi because once again, there was no need to check: AI couldn’t fail. At least, according to the police forces that were in charge of the case. Zasca. The funny thing is that proving Lipps’ innocence was really easy. When a public defender finally reviewed the suspect’s bank statements, the case fell apart. While the scammer was stealing thousands of dollars in North Dakota, Angela Lipps was buying tobacco at a Tennessee gas station, using Uber Eats and cashing her Social Security check in her hometown. The GPS and bank records were definitive and irrefutable evidence. Come home come back. On December 24, on Christmas Eve, the prosecutor’s office in charge of handling the case dropped the charges and Angela Lipps was released. Of course: they did it without further ado, on the street, in a state she didn’t know and where it was very cold while she had been arrested wearing summer clothes. The defense lawyers were in charge of paying for a hotel for him and another NGO called F5 Project helped him return home. The tragedy does not end there. The problem is that his return to Tennessee was not happy at all. During the six months he spent in prison, Lipps was unable to pay his bills and ended up losing his house, his car, his savings and even his dog. The Fargo police chief, who held a news conference to mark his retirement, did not even want to answer questions about the case. There has been no official apology or compensation for this huge police error. It’s not the first time, but it seems incredible that it won’t be the last.. We do not know what will end up happening with this scandal, but it is not the first of its kind that has occurred. In the US they have been arresting suspects using facial recognition systems for some time, but These systems fail and cause arrests of innocent people. This type of problem of poor application of AI tools in criminal investigations is present in Spain, where we already talked about the tragic consequences of using VioGén or what happened to him false complaint detection system just a year ago. AI can help, but in these types of processes human supervision is especially crucial. Image | Xataka with Freepik In Xataka | AI videos have broken Instagram and TikTok algorithms. Welcome to the new “AI dumps”

In Vigo the hoteliers have decided that it is enough to occupy tables to just have a coffee. Solution: minimum consumption

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Friday afternoon. Spring time, you can almost smell summer. The bars in the terrace area of ​​your city are full, but you and your friends are lucky: suddenly you see a free table on the other side of the square. You rush to occupy it, but when the waiter arrives to take your order, it turns out that of the six of you in the group, only three are going to have something. “I’m sorry,” he responds, putting the notebook in his pocket. “You don’t reach the minimum”. The above is an invented scene, but it is becoming easier to find it in bars in Spain. Especially as the rents and the cost of goods makes it difficult for them to reach the coveted threshold of profitability. “Minimum and mandatory” consumption. The news advances it Vigo Lighthouse: Fed up with groups of customers who ‘colonize’ tables for hours and hours and only order a couple of soft drinks, Van Gogh, one of the most popular cafes in Vigo, has decided to require its customers to have a “mandatory minimum consumption.” The rule leaves little room for interpretation. It is announced with a sign hanging on the door of the premises. Their goal is also quite clear: improve the profitability of the business and avoid tourists who just want to use the bathrooms. “Everyone has to consume”. “The intention is that if six kids come to a table, not just two of them order something, but all of them. We had to take these measures because we are talking about an issue of profitability. Everyone who enters the establishment has to consume it,” explains the manager of the cafeteria, Jordi Casado, told the Galician newspaper. It is the waiters themselves who enforce the rule, as well as another one that the establishment applies: only two baby strollers are allowed inside. “Sometimes people are not aware that space costs money. A child in a stroller does not consume and takes the place of a person who would,” they point out from the premises, who also remember that cars can hinder the passage. Van Gogh is not the only business in the industry that applies minimum consumption regulations in Vigo. Lighthouse mentions another cafeteria in Calvario that also imposes certain conditions on days when there are media matches, such as those played by Celta, Madrid or Barça. Those in charge allow table reservations, but only for those who are going to dinner. “And those who come on their own, obviously, cannot spend two hours alone with a coffee, it is not profitable,” warns the person in charge of the bar. Does it only happen in Vigo? No. A quick look at the newspaper archive shows that, although it is not a majority practice, requiring a minimum consumption is beginning to become normal in the sector. In certain tourist spots (such as Barcelona or Ibiza) it dates back years backin some cases with high rates. Just a few months ago the newspaper The Gazette counted how an establishment in the center of Salamanca had adopted a similar rule, requiring its customers to consume at least one drink and a tapa per person at times of greatest demand (basically on Friday and Saturday nights). Click on the image to go to the tweet. A table, 10 euros. “Many people sat on the terrace for two hours with a water or a wine. In the end the bill was five or six euros. Meanwhile, there were lines of people waiting to sit down,” explained the owner of the local charro. “With those numbers it is impossible to keep a bar afloat.” in autumn ABC echoed another case similar: a bar that requires its clientele to spend at least five euros on League matches. Again it is not a unique case. Not long ago the ‘I’m a Waiter’ account sparked controversy by share a poster in which a bar announces its rates to compensate for “the high costs of broadcasting matches”: if you want a chair you have to pay ten euros. If we talk about a table for four it stays at €30, or €45 if it is for six. Pulling imagination. Minimum consumption is just one of the strategies with which hoteliers try to protect their profitability. Others go through adjust the price of the drinks depending on the time the customer occupies the tables (the more minutes, the more expensive the coffee is) or even veto who They go to bars alone, without companions. It is also not strange that in Spanish restaurants reservations are already made with an arrival and departure time. Bead Earrings. The objective is always the same: improve profitability in businesses that are still carrying the hangover of COVID and that in recent years have been marked by the increase in rentthe complications to find qualified labor and the increase in the cost of goods such as the coffee either cocoa. Added to this panorama is the crisis of some of the most successful ‘products’ in the sector, such as the cane either the menu of the dayand the growing competition from other markets. Today, for example, Mercadona already represents a rival to take into account for the bars. Image | Toa Heftiba (Unsplash) In Xataka | The bars promised them happily by filling their terraces with beer merchandising. Now they fear million-dollar losses

Asia is hoarding all the world’s LNG due to Hormuz panic

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In global energy markets, alarm bells do not always ring loudly; Sometimes all you have to do is watch where the boats are sailing. Right now, the canary in the mine of the looming crisis is the frenzy of Asian liquefied natural gas (LNG) buyers. As the conflict in the Middle East escalates, Asia’s major powers are preparing for supply disruptions that could last months. The prolonged paralysis at the world’s largest export plant is stifling global supply and skyrocketing prices. As Dai Jiaquan explainschief economist at the CNPC Economics and Technology Research Institute, companies should prepare “contingency plans” for a two- to four-month disruption. Far from expecting a quick resolution to the attacks between the United States, Israel and Iran, Asia is sweeping up all available gas. The Qatar blackout and the buying fever. The origin of this panic has exact coordinates: the Strait of Hormuz. The trigger was an attack with Iranian drones that hit the strategic facilities of Ras Laffan and Mesaieed, forcing the state company QatarEnergy to cease production. The impact is massive: Qatar supplies 20% of the world’s LNG and, without Hormuz, there is no alternative route. According to the consulting firm AMEthis stoppage removes 1.5 million tons of gas from the global market every week. Added to this is an unprecedented logistical blockade with some 150 ships paralyzed in the area. Faced with this abyss, purchases have skyrocketed. According to BloombergTaiwan has already fully secured its supply for March and April, and is now actively purchasing to cover the month of May. Bangladesh managed to secure shipments for April and is already evaluating purchases from May onwards. For their part, Thailand and South Korea seek to ensure immediate deliveries, while in India, the company Gail India Ltd. barely managed to reserve a shipment in March after several failed attempts. Europe vs. Asia. What is coming is a direct trade war: Europe and Asia fighting for the same gas. According to Financial Timesthe contest is a chilling reminder of the crisis of 2022 following the Russian invasion of Ukraine. To this battle, Europe arrives with its defenses low: its gas storages are barely 30% because companies did not fill them due to high future prices, a phenomenon known as backwardation. Furthermore, Spain, despite having regasification plants, cannot act as a total lifeline for the continent due to its lack of interconnections through the Pyrenees. Historically, Asia consumes more gas in summer due to air conditioners, creating a desperate urgency that is already reflected in prices. As explained BloombergLNG spot prices in Asia are around $18 per million British thermal units (MMBtu). This represents an 80% increase in price compared to pre-conflict levels, despite having fallen from a recent peak of $25. The Asian benchmark JKM index doubled to $24.80. In Europe, the reaction was one of panic: the TTF benchmark index jumped sharply from below 40 euros to almost 47.5 euros, marking an increase of 55% in recent days. In fact, it is projected that a 90-day closure in Hormuz would raise the TTF to €92/MWh. And this is where the alarms go off for the real economy, As the report explains Kpler, The profitability threshold for intensive European industry (chemicals, fertilizers or ceramics) is usually between €50 and €60/MWh. If prices stagnate there, we could see a new wave of factory closures and a resurgence of inflation. Change of course at sea. According to monitoring data collected by Bloombergat least nine shipments bound for Europe have been redirected to Asia since the fighting began. Atlantic ships like the Clean Mistraloriginally destined for Spain, or the BW Brusselswhich was going to France, have redirected their compasses towards the Pacific in the face of lucrative Asian offers. This maritime chaos is not exclusive to gas. In the oil sector, about 30 giant supertankers They crowd off the Saudi coast of Yanbu in the Red Sea to collect crude oil transported by land, in a desperate attempt to avoid the Iranian blockade. Vulnerabilities and “buffers”. Not all countries face this crisis with the same weapons. According to an analysis of A.M.E.Taiwan is the most exposed and vulnerable player: Qatar and the United Arab Emirates provided it with 35% of its imports in 2025, and after the closure of its nuclear park, it has almost no options to use other fuels. South Asia is also on the line. The report of Kpler highlights that Qatar and the Emirates account for 99% of Pakistan’s LNG imports, 72% of Bangladesh’s and 53% of India’s. However, powers such as China and Japan breathe a little easier. According to Vortexa analyst Ken Lee cited by oil priceBeijing and Tokyo’s exposure to Qatari LNG is just 6% and 5% of their gas mix, respectively. Furthermore, Japan has a good reserve inventory and the restart of its nuclear plants gives it a strategic “cushion.” Asia as a global buffer. In the end, the market will rebalance, but the pain will be uneven. Faced with the impossibility of paying stratospheric prices, very price-sensitive countries such as Pakistan or Bangladesh will have to resort to demand destruction, industrial cuts or return to burning coal. According to AMEJapan and South Korea will seek to replace between 70% and 90% of Qatar’s lost volumes in the spot market, while China, confident in its inventories, will only seek to cover 50%. As pointed out KplerSouth Asia and its industry will operate as the “buffer” (shock absorb) of this crisis. By cutting their own consumption due to not being able to pay, they will leave gas available for the Asian and European giants, but at the cost of maintaining relentless upward pressure that will make the entire world’s energy bill more expensive in the coming months. Image | Photo by Chris Pagan on Unsplash Xataka | The $200 per barrel scenario: when geography suffocates the world economy

use them in a place where they are allowed

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like the waters They are very upset about AI chipsTikTok’s parent company has come up with a strategy to circumvent US export restrictions for NVIDIA chips: instead of importing the chips, it uses them where they are allowed. And that place is Malaysia. chip war. From 2022, US export regulations They prohibit NVIDIA from selling their accelerators of most advanced artificial intelligence directly to China. This puts the large Chinese technology companies at a disadvantage, as they see how their American rivals (Google, OpenAI, Microsoft, Anthropic, etc.) have unrestricted access to the most advanced computing power they obtain from NVIDIA. ByteDance, the company behind TikTok, does not want to be left behind in the global AI race and has found a legal, albeit controversial, path forward. What exactly happened. According to account According to the Wall Street Journal, ByteDance is working with a Southeast Asia-based company called Aolani Cloud to deploy a cluster of about 500 computing systems in Malaysia. NVIDIA Blackwellwhich is equivalent to approximately 36,000 chips B200. The estimated cost of the entire infrastructure exceeds $2.5 billion. Just like account In the middle, the servers are assembled by Aivres, a company specialized in building hardware with NVIDIA chips. Aolani, created at the end of 2023 under a holding structure in the Cayman Islands and with capital from Singapore venture capital firms, had already been renting servers from ByteDance with H100 chips in Malaysia since February. The legal key to the matter. ByteDance is not buying the chips or servers: it rents them. Aolani is the one who physically owns and operates them in Malaysia, a country that does not fall under US export restrictions. Under current rules, what is regulated is the destination of the hardware, not who uses it in the cloud. “By design, export rules allow clouds to be built and operated outside restricted countries,” counted an NVIDIA spokesperson told the WSJ. It also added that all customers who use NVIDIA chips undergo internal compliance reviews before receiving their products. On the other hand, the medium points out That ByteDance is not on any list of restricted companies from the US Department of Commerce, so the fact that they are using this hardware does not trigger any alerts at the moment. Qgeopolitical tension. Just because all this is legal does not mean it is politically convenient. Aolani recognized in an internal presentation to investors that it is working with a US law firm to ensure its regulatory compliance, and that it is already considering future regulatory changes that “would likely be prospective, not retroactive.” A phrase that, read in a political key, leaves some real uncertainty about whether Washington may end up limiting this type of business structures in the future. Last month, from Reuters they shared that the US would be willing to allow ByteDance to buy H200 chips from NVIDIA, although the semiconductor manufacturer would not have yet accepted the proposed conditions. Bytedance and its ambition in AI. ByteDance already operates five of the world’s 50 most popular consumer AI apps by monthly active users, according to data by Andreessen Horowitz. They have their chatbot Dolathe platform to generate video with AI Dreamina and Gauthan educational assistant. In terms of video generation, Bytedance went extremely viral with Seedanceits engine for generating videos with AI that has left half the planet crazy for its realism and precision when constructing pieces of text in video clips. The company has research teams in Singapore, San Jose and Seattle, and seeks to fill more than a hundred AI vacancies in the US. “Our goal is to reach the highest peak,” said its CEO, Liang Rubo. Cover image | Collabstr and NVIDIA In Xataka | At Amazon they have realized something: their developers spend more time fixing AI bugs than anything else

The Tagus reservoirs have reached their maximum level. The response of the authorities has been to empty them immediately

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1,639.67 hm3 of water. That is what the Entrepeñas and Buendía reservoirs store today at the head of the Tagus. This means that they have reached 65.11% of their capacity (compared to 48.52% last year) and, more importantly, that have reached level 1the maximum possible step. Finally, some good news! After years of hardship, the river has reached its “dream level.” Then, we are going to empty it. As? This same week, the Tajo-Segura Transfer Exploitation Commission is going to propose sending 180 hm3 of water to the Segura basin. It will be done in stages over three months. And the truth is that it was something totally predictable: the growth of reserves in the headwaters of the river has reached milestones that we have not seen since the late 90s. In application of the transfer rules that were set in 2013the irrigators of Segura request that the necessary procedures be activated so that they can give them the water that is theirs. What happens is that the political mess is enormous. What is happening with the water of the Tagus? Basically, by virtue of the Tagus Hydrological Plan, approved in 2023the transfer rules had to be updated to adapt them to the current reality. It has been tried; late, but it has been tried. What happens is that the process (due to the enormous political costs it entails) has been stalled for months and months. Right now, he is stopped waiting for pending resolutions in the Supreme Court. This has generated a very complicated situation: the plan that was going to be approved included a progressive reduction of transfers up to 40% in the next five years. The stated intention was recover the Tagus River and look for management formats that do not focus on specific moments (“emptying the pantry just when we have finished filling it”), but on more global measures that do not compromise the management of the basins in the medium term. But since it is not approved, the law is clear: Segura can claim its water and the Exploitation Commission will proceed to send it. The central issue is whether all this is a mirage or not. It is not lost on anyone that this January has not been a normal month (it has been the rainiest in the last 25 years) and, for this reason, each of the parties wants to use ‘this gift from heaven‘ for their own interests: some to regenerate the Tagus (and ensure the economic activity linked to it) and the others to keep the Segura agroindustry alive. That is, we have to choose at the worst possible moment: with the elections just around the corner. Image | Maria LVRZ In Xataka | The water from the Tagus is going to stay in Castilla-La Mancha. So Alicante and Murcia already have a plan B: set up desalination plants

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