For those running a business, 2026 doesn’t feel like a normal cycle. This weekend’s large-scale US and Israeli strikes on Iran underscores this, with the impact to oil prices and energy costs playing out in real time. The geopolitical risk compounds the difficulty facing companies as they chase the opportunities of artificial intelligence, productivity and growth while managing pressure from inflation and rising capital costs.
One of the more challenging questions for executive teams is how to allocate scarce capital under structural uncertainty.
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