Tariffs—their size and details—remain central to political and economic debate worldwide. The uncertainty over their future is dominating corporate decision-making. In the US, this is evident in how the two largest airlines have responded in markedly different and unprecedented ways: Delta Air Lines has withdrawn its full-year financial outlook for 2025, citing these uncertainties, while rival United Airlines presented two profit-guidance scenarios for the year: one optimistic and one pessimistic.
Financial institutions and corporations must navigate uncertainty and be prepared to operate under different scenarios. They cannot isolate themselves while waiting for clearer conditions. Our coverage on tariffs and trade in this issue examines tools and strategies in this highly uncertain climate to understand how corporations and financial institutions cope with the current situation and how AI seems to have even greater relevance now for many of them.
This month’s cover story focuses on a topic that clearly should be on corporate executives’ radar: the growing relevance of cryptocurrencies not just for investors, but also for corporate activities and reserves. We also examine the increasing importance of stablecoins worldwide, particularly in the US.
The annual Best Bank awards are a key component of this month’s issue, as they present the largest selection of winners by country and region worldwide. The best banks we select, often after difficult decisions among strong local or regional competitors, are not necessarily the largest— even if they often are—but the best overall considering factors like leadership and reputation, risk management, quality of services offered, involvement in innovation, and, naturally, economic performance. Again, as is often the case with this magazine, we celebrate outstanding performance frequently achieved against a challenging economic or political climate in their country or region. It may sound obvious, but it is often taken for granted: There are remarkable achievers in every economic environment.
Andrea Fiano | Editor at Large | afiano@gfmag.com
May 2025 Issue
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