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Markets
Currencies, commodities, rates, indices and capital flows.
31 published articles
Featured
Shell–XRG: Australian Gas Changes Hands
XRG's acquisition of Shell's stake in Australia's North West Shelf project illustrates a gradual transformation of the global gas industry. As major Western energy companies restructure their portfolios, Gulf investors are expanding their presence in international energy infrastr
AnalysisRecent publications
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MarketsVietnam: Tesla and Samsung Push Back Against US Tariffs
US trade policy is confronting an increasingly visible contradiction: the companies Washington seeks to protect sometimes depend on the foreign production networks it is trying to penalize.
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MarketsEnergy: The Erosion of Safety Margins
The crisis in the Strait of Hormuz has exposed a long-underestimated vulnerability in the global energy system. As inventories decline and logistics costs surge, energy security no longer depends solely on production capacity. It increasingly rests on the ability to transport, st
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MarketsIntel: The Paradox of Growth
On October 30, 2026, Intel lost nearly 29% of its market value despite reporting strong revenue growth the previous day. Behind this historic sell-off lies a deeper contradiction: one of the pioneers of the semiconductor industry is benefiting from the global expansion of artific
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MarketsAI’s Hidden Debt: Who Bears the Risk if Data Centers Fail to Deliver?
Artificial intelligence is transforming the architecture of global finance. Behind the spectacular investments of technology giants, a complex system of long-term debt, special-purpose vehicles, financial guarantees, and contractual commitments is emerging. The risks associated w
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MarketsCarlsberg India: How India's Stock Market Is Becoming a Capital Monetization Hub for Multinationals
By preparing to list its Indian subsidiary through the sale of 86.42 million existing shares, Carlsberg is pursuing a transaction whose significance extends far beyond the brewing industry. No new capital will be injected into the company: the proceeds will go to selling sharehol
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MarketsAnthropic: A Historic IPO Faces the Economic Reality of Artificial Intelligence
On October 26, 2026, Anthropic reached a decisive milestone in its development by making its initial public offering filing public in the United States. Founded just five years earlier, the company behind Claude is preparing to enter public financial markets on a scale rarely see
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MarketsSouth Korea: $100 Billion in Semiconductor Exports at Risk from an AI Slowdown
The Bank of Korea has warned that a slowdown in US artificial intelligence investment could leave South Korea’s semiconductor exports $50 billion to $100 billion below earlier projections for 2027. Beyond the immediate economic implications, the scenario exposes a deeper vulnerab
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MarketsSyngenta–Sinochem: A Hong Kong IPO Could Value the Agricultural Giant at Up to $88 Billion
In Basel, Switzerland, one of the world's largest agricultural technology companies is preparing for a potential return to public markets. Nearly a decade after its acquisition by Chinese state-owned interests, Syngenta could seek a listing in Hong Kong at a valuation ranging fro
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MarketsIndonesia: When Global Financial Markets Set the Terms of Financial Sovereignty
Facing the possibility of losing its emerging-market status in MSCI indices, Indonesia is accelerating reforms to its stock market. Beyond transparency requirements and corporate governance lies a deeper question: how much financial autonomy can a country retain when private inde
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MarketsBen & Jerry’s: Can Employee Ownership Reclaim a Global Brand?
A global brand, two founders seeking to reclaim its independence, and a proposal that could turn employees into shareholders. Behind the struggle for Ben & Jerry’s lies a much broader question about the future of capitalism: can those who create a company's value also own its cap
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MarketsJio Platforms: $77 Billion in Investor Orders and India’s Financial and Technological Ambitions
Priority: Exceptional | Initial Public Offering, Capital Mobilization and Digital Strategy — Reported subscription figures, pending final regulatory verification An IPO That Extends Far Beyond India's Stock Market The initial public offering of Jio Platforms, the digital subsidia
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MarketsMeta: The Cost of Artificial Ambition
On October 21, 2026, Meta Platforms reported financial results that captured one of the most significant contradictions in the contemporary technology economy. The American group continues to expand its revenues at a remarkable pace, supported by digital advertising and the growi