Tony Grandsire

KKR bets $5.1bn on the tollbooths of private markets

KKR is buying Gen II Fund Services, which handles the accounting for more than $2,000bn in private fund capital, for $5.1bn including debt. The same day, one of its own private credit funds exceeded its quarterly redemption cap.

October 06, 2026 at 04:06 am

Nearly 30% growth expected on Wall Street in Q3, but beware of a disappointment…

The S&P 500 is entering earnings season with particularly high expectations. Analysts have raised their third-quarter earnings forecasts, an unusual development, while the index still needs to post growth of nearly 30% to meet market expectations.

October 05, 2026 at 10:05 am

Flavio Bolsonaro takes lead over Lula, Brazilian real and stock market soar

Flavio Bolsonaro pulled off a surprise in the first round of Brazil's presidential election, securing 47.1% of valid votes, against 45.1% for Lula. The result, better than expected for the right-wing candidate, strengthens expectations of an opposition victory in the runoff and should support Brazilian stocks, the real and bonds.

October 05, 2026 at 10:02 am

At $115bn, Revolut is worth more than Barclays

The valuation resulting from the latest share sale would place the British neobank seventh amongst European banks, even ahead of century-old institutions. It comes in the year that the group secured full banking licenses in the UK and then France, opening the door to lending and savings products.

October 05, 2026 at 05:08 am

Why the yen can shake global markets

The Bank of Japan has raised its policy rate to 1.25%, its highest level in thirty-one years. And yet the yen remains under pressure. This paradox illustrates how the "carry trade" works, a strategy that has for years financed investments around the world thanks to the low cost of Japanese money. When the mechanism reverses, the effects can be felt all the way to Wall Street.

October 02, 2026 at 12:19 pm

Western Digital and Seagate Plunge as Toshiba Returns

Western Digital and Seagate Technology fell sharply on Friday, hurt by concerns over increased competition in the hard-drive market, which has become essential for storing data related to artificial intelligence. Both stocks were down 13% and 15%, respectively, at 5 p.m.

October 02, 2026 at 11:45 am

Ferrovial, the builder that has learnt to live off recurring income

The Spanish group has just wrapped up the commercial agreement for a $9.2bn highway project near Nashville, which it will operate for fifty years. This is a chance to understand a model where construction drives revenue, while the real money is made elsewhere.

October 01, 2026 at 04:43 am

Spotify and the music industry, the glass ceiling for a giant that pays out two thirds of its revenue

The Swedish group has just crossed the threshold of 300 million paying subscribers, a record no one had reached in audio. Yet for every euro it takes in, it pays out nearly 67 cents to rights holders before it has even paid an employee. The clearest rebuttal to the notion that a massive audience guarantees massive profits.

September 30, 2026 at 05:43 am

FICO Loses Its Monopoly Status… and a Fifth of Its Value

For decades, no American could buy a home without going through a score provided by a single company. The regulator has just put an end to that by opening the door to a competitor. Fair Isaac shares are down 20% on this news.

September 29, 2026 at 10:13 am

What Your Attention Is Really Worth on Social Networks

Between Meta, Reddit, Snap and Pinterest, one user is not worth the same at all. The apparent spread runs from one to nine, but the counting methods differ. It is precisely in their ability to better monetize their audience that analysts still see as much as 58% upside potential for Pinterest, 49% for Reddit and 41% for Snap.

September 29, 2026 at 05:18 am

Danieli sinks over 10%, with the market not punishing what you might think

The Italian steel equipment maker's shares slumped over 10% on Monday after the company published its annual results. Net profit still rose 5%, while its order book hit a record. However, the drop in operating profit, charges relating to certain projects and more cautious guidance explain the market's reaction.

September 28, 2026 at 09:17 am

Active ETFs Shatter Their Annual Record With Four Months to Spare

European active ETFs have already pulled in more over eight months than they did over all of 2025. Behind the surge is a showdown between traditional asset managers and index-fund giants, along with a question for savers who assumed ETF was always synonymous with passive investing.

September 28, 2026 at 07:48 am

Northern Star Rejects Gold Fields' $27bn Bid

Australian gold producer Northern Star Resources has rejected an unsolicited proposal from Gold Fields that valued it at A$38.7bn, or about $27.1bn. A tie-up would create the world's second-largest gold producer behind Newmont.

September 28, 2026 at 04:33 am

Why is Linde everywhere even though hardly anyone knows its name?

You have probably used several products today that were made using Linde's industrial gases without realizing it. Oxygen, hydrogen, nitrogen, or carbon dioxide are used to make medicines, computer chips, beverages and thousands of everyday products. With $34bn in sales in 2025, and likely many of your favorite companies amongst its clients, Linde still keeps a near-invisible profile with the general public.

September 25, 2026 at 04:57 am

MarketScreener's Odds and Ends: all your eggs in one basket

This week's lineup: an S&P 500 handing most of its growth to a single sector, American households who have never bet so much on the stock market, and copper inventories that crossed the Atlantic.

September 24, 2026 at 09:33 am

SAINT-GOBAIN: An opportunity over the medium term?

Saint-Gobain shares reflect an interesting technical chart pattern from a medium term view In fact, the support at 68.08 EUR represents an important technical support area based on weekly price data that could limit downward movements by the stock.

September 24, 2026 at 06:10 am

Costco, or the art of making money while selling almost at cost price

The US warehouse retail giant reports its annual results tonight, a chance to unpack a baffling machine. On the products it sells, Costco makes very little. Most of its profit comes from a line item that represents under 2% of revenue.

September 24, 2026 at 05:13 am

AB InBev tweaks its formula, betting on protein and smaller formats

Anheuser-Busch InBev (AB InBev) is reshaping the mix of its product portfolio to keep pace with changing consumer habits. With traditional alcohol consumption slowing and interest in wellness rising, the world's largest brewer is leaning into smaller formats, functional drinks fortified with protein, and a push beyond beer's traditional boundaries.

September 23, 2026 at 10:23 am

Twenty years of Europe's stock market told through ten stocks

Oil majors and banks in 2006, pharma and defensives in 2016, technology and industry today: the ranking of the biggest weights in the Stoxx 600 tells the continent's economic story in ten lines, with its comeback kids, its vanishings and one shooting star.

September 23, 2026 at 03:44 am

Ams-OSRAM, the former headlight specialist, is betting on AI optics

The Austro-German group's shares jumped over 20% Monday in Zurich after unveiling micro-lasers aimed at AI data centers. The announcement highlights the transformation of a company long weighed down by debt, but whose value still rests largely on promises.

September 22, 2026 at 08:16 am

Three central banks, one tightening cycle

September 21, 2026 at 09:44 am