博客与分析
是什么在推动市场，又是为什么。
关于公司、市场和经济的背景解读。通俗易懂，按日期排列。
Broadcom的人工智能营收，从84亿美元到107亿美元
Broadcom预计本季度的人工智能相关营收为107亿美元，上个季度是84亿美元。为什么定制芯片正在成为这轮景气的第二根支柱。
最新分析
十二个新低对七个新高，那个安静的市场指标
在一个接近纪录高位的指数里，创年内新低的公司比创新高的还多。这个指标说明了市场宽度的什么，又该怎么读它，才不至于把它当成买卖信号。
阅读约 5 分钟阅读
三家炼油厂创年内新高，赚钱的是价差
Phillips 66、Marathon Petroleum和Valero创下新的52周高点。对炼油厂来说，决定盈利的不是油价，而是买进原油与卖出成品之间的价差。
阅读约 5 分钟阅读
Pfizer创两年新高，医疗保健股成了避风港
Pfizer和Solventum在9月初创下新的年内高点。这里说明在一个艰难的市场环境里，投资者为什么会转向医疗保健类个股。
阅读约 4 分钟阅读
下一个瓶颈叫电力，吉瓦级的数据中心
新的人工智能数据中心需要的不是几兆瓦，而是好几吉瓦。为什么供电，以及变压器的交货期，正在成为这轮人工智能扩建真正的瓶颈。
阅读约 5 分钟阅读
华尔街有望连续第四年上涨，2007年以来最长的一次
道琼斯、标普500和纳斯达克正走向连续第四个上涨年份。对标普500而言这将是2007年以来最长的一次连涨。市场宽度依然很窄。
阅读约 3 分钟阅读
Micron定在9月30日，存储周期的一次情绪检验
Micron将在9月30日公布季度数据。为什么这个日子对整个人工智能硬件领域来说可能格外重要，而存储周期又是眼下整个半导体景气中最显眼的部分。
阅读约 5 分钟阅读
美国工业增长放缓，就业分项逼近荣枯线
美国制造业采购经理人指数8月降至54.6点，就业分项降至51.2，价格分项停在71.1。这些数字对增长和价格压力意味着什么。
阅读约 4 分钟阅读
两位央行官员反对加息，这笔账正在改变
两位高级别的央行官员公开表示反对很快加息，目标利率区间维持不变。这里说明这件事对市场上的预期意味着什么，以及数据这一侧是怎么说的。
阅读约 3 分钟阅读
当一笔退款美化了报表，如何读懂一次性影响
一次性的特殊项目可以明显改变一个季度的业绩。这里以Nike的关税退款为例，说明可以从哪里认出它们，以及为什么它们那么经常被人忽略过去。
阅读约 3 分钟阅读
新增雇佣减少278,000人，那个更安静的就业数字
新增雇佣人数7月减少278,000人，雇佣率降至3.2%。这里说明为什么这个数字比失业率透露的信息更多，以及工业调查怎么说。
阅读约 3 分钟阅读
债券收益率和油价拖住Dax，连续下跌就此结束
债券收益率上行和高油价连续三天压住了Dax。周四这个指数转为上涨，支撑来自美国可能暂停加息的信号，两位高级央行官员反对很快加息。
阅读约 5 分钟阅读
能源2026年以上涨43%领跑，消费板块掉队
标普500的十一个板块中有八个在2026年高于年初水平，能源以约43%领先。消费类个股掉队，周期性消费以下跌2.3%排在最后一位。
阅读约 3 分钟阅读
八年前的显卡按新品价格出租，折旧年限的问题
一家运营商把八年前的Nvidia芯片按新品价格出租到2029年。这件事对人工智能投资的价值能撑多久说明了什么，又为什么它还算不上证明。
阅读约 4 分钟阅读
Nvidia报出820亿美元季度营收，怀疑却仍然没有散去
Nvidia报出820亿美元的季度营收，其中数据中心业务贡献750亿美元，增幅为92%。为什么投资者面对这样的增速仍然保持谨慎。
阅读约 5 分钟阅读
可选消费垫底，在创纪录的一年里下跌2.3%
可选消费板块下跌2.3%，是标普500十一个板块中唯一明显为负的板块。这份落后的背后是什么，以及它为什么最先反映出家庭预算的变化。
阅读约 5 分钟阅读
赌场和邮轮股创年内新低，消费最先出现裂缝
Wynn Resorts、Las Vegas Sands、VICI Properties和Carnival创下新的年内低点。这里说明这件事透露了家庭消费意愿的什么信息。
阅读约 4 分钟阅读
美国建筑支出降至2023年以来最低，建筑类个股走弱
建筑支出7月下降0.5%，降至2023年10月以来的最低水平。住宅建筑类个股随之走弱。这次下降真正的影响要过几年才会显出来。
阅读约 3 分钟阅读
日本消费者承压，利率决定成了一次走钢丝
上升的生活成本压住了日本的家庭，内需依然疲弱，日元最近明显升值。这里说明这对日本央行以及它即将作出的那次利率决定意味着什么。
阅读约 3 分钟阅读
Nike股价创十二年新低，大中华区连续八个季度下滑
Nike股价跌至2014年以来的最低水平。这里说明大中华区业务在其中扮演了什么角色，以及为什么第四季度的毛利率看上去比实际情况要好。
阅读约 3 分钟阅读
Strategy sells bitcoin to pay dividends and sits on an 8.6 billion dollar paper loss
Strategy sells bitcoin to pay dividends and sits on an 8.6 billion dollar paper loss. Why the premium to the holdings has disappeared.
阅读约 4 分钟阅读
Gold price now in 2026, why gold is 22 percent below its record despite the war
Gold is around 22 percent below its January high. Why the real interest rate and not the war sets the price and what Jackson Hole can change about it.
阅读约 4 分钟阅读
Starbucks grows 7.9 percent and still reports falling revenue
Starbucks grows 7.9 percent in comparable sales and still reports falling revenue. What the transfer of the China business explains.
阅读约 4 分钟阅读
Spain grows twice as fast as the EU but incomes lag behind
The Spanish economy grows 2.4 percent in 2026 on the European Commission forecast, more than twice the European average of 1.1 percent. Other houses expect around 2.1 percent, while income per head rises far more slowly.
阅读约 4 分钟阅读
Royal Bank of Canada reports on 27 August and manages 2.4 trillion Canadian dollars
Royal Bank of Canada reports on 27 August and manages 2.4 trillion Canadian dollars. What matters in the quarter and how the rate picture turns.
阅读约 4 分钟阅读
TSMC lifts July revenue 44.7 percent and is sold out on 2 nanometre for the year
TSMC lifts July revenue 44.7 percent and is sold out on 2 nanometre for the year. What a wafer costs and how Arizona is developing.
阅读约 4 分钟阅读
UnitedHealth plans 439 billion dollars of revenue and expects fewer members
UnitedHealth expects more than 439 billion dollars of revenue in 2026 while insuring fewer people. How the margin is meant to rise through prices.
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Turkey in 2026, why an index exclusion would hit the exchange harder than any crash
Turkey faces exclusion from important emerging market indices because of extreme price movements. What lies behind it and what the consequences would be.
阅读约 4 分钟阅读
JPMorgan stands at 965 billion dollars and could become the first bank worth a trillion
JPMorgan closed at a market value of 965 billion dollars, 35 billion short of a trillion. What the step requires and who might get there first.
阅读约 4 分钟阅读
Ford earns more on falling revenue and raises guidance for the second time
Ford earns more on falling revenue and raises guidance for the second time. Why the profit comes from prices rather than from unit sales.
阅读约 4 分钟阅读
Airbus has to deliver 519 aircraft in the second half to hold its target
Airbus has to deliver 519 aircraft in the second half to hold its target. What the half year figures show and why cash flow was negative.
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Uber lifts bookings 24 percent and the share still falls five percent
Uber lifts gross bookings 24 percent and the share still falls five percent. Why revenue grows more slowly than the booking volume.
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Adidas reaches record revenue thanks to the World Cup and spends 212 million euros more on marketing
Adidas reaches record revenue thanks to the World Cup and spends 212 million euros more on marketing. Why the share falls all the same.
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Palantir grows 93 percent and the share jumps 29 percent in a day
Palantir grows 93 percent to 1.94 billion dollars of revenue and the share jumps 29.5 percent. Why the stock was still down on the year.
阅读约 4 分钟阅读
From textile maker to AI stock, how one word at the annual meeting set off a 56 percent gain
One sentence at the annual meeting turned a synthetic fibre maker into an AI stock. Five trading days later the gain stood at 56.09 percent.
阅读约 5 分钟阅读
Intel raises 20 billion dollars and meets demand of 100 billion
Intel placed 20 billion dollars of stock against orders of around 100 billion. What sits behind the demand and where the analysts disagree.
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Four European small caps by the numbers, and why for two of them the data is not enough
At Siili the half year figures contradict the description. At Lokotech current data is missing, and at two others there is nothing to check.
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Apple has to change its tracking prompt across almost the whole EU
Apple will rework the consent prompt for App Tracking Transparency. Four months to comply, seven years of commitments and an advantage for the ad business.
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Micron is up 240 percent and still 20 percent below its June high
Micron is up 240 percent and still 20 percent below its June high. Why this memory cycle could be different from all the earlier ones.
阅读约 5 分钟阅读
Adobe triples its AI revenue past 500 million dollars and accepts slower growth for it
Adobe triples its AI revenue past 500 million dollars and accepts slower growth. Why analysts stay at hold all the same.
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The Nordic summer of takeovers, Mandatum buys in Stockholm, Viscaria digs in Kiruna
Mandatum buys in Stockholm, Sampo grows with corporate clients, Viscaria raises billions for a copper mine with no revenue. What links the three cases.
阅读约 5 分钟阅读
T Mobile US misses the earnings estimate by 40 cents per share
T Mobile US misses the earnings estimate by 40 cents per share. Why three other measures matter more at a mobile operator than a quarterly result.
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Champagne starts its earliest harvest on record and cuts the volume at the same time
Champagne has begun the earliest grape harvest in its recorded history. The official picking dates published on 12 August fall between 8 and 22 August depending on village and grape variety.
阅读约 4 分钟阅读
Hims and Hers grows 38 percent and misses on earnings by a factor of seven
Hims and Hers grows 38 percent and misses badly on earnings. Why the obesity treatments cost margin and analysts raise targets anyway.
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Allianz pays 6.5 billion euros in dividends and is the largest payer in the DAX
Allianz pays out 6.5 billion euros and remains the largest dividend payer in the DAX. Why the largest sum does not mean the highest yield.
阅读约 4 分钟阅读
Alphabet posts negative cash flow for the first time and loses seven percent in a day
Alphabet reports a negative cash flow for the first time and falls seven percent. What the data centre build out does to the balance sheet.
阅读约 4 分钟阅读
A plum snack is called LLM, how a ticker was worth 193 percent on the Hong Kong exchange
A maker of plum snacks carries the ticker LLM and rose 193.71 percent on its first trading day. What the ticker did and what it did not.
阅读约 5 分钟阅读
Surf Air Mobility by the numbers, a software contract worth twelve million and negative equity of 42.5 million
A software contract worth twelve million dollars and equity of minus 42.5 million. Which figures should be read first at this company.
阅读约 5 分钟阅读
Reddit grows 61 percent, joins the S and P 500 and is still down 30 percent
Reddit grows 61 percent, joins the S and P 500 and is still down 30 percent. Why traffic is the decisive worry for the business.
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The euro climbs above 1.16 dollars to a two month high as the market gives up on a rate hike
The euro moved above the 1.16 dollar mark on Monday and reached its highest level in two months. Behind the move are fading expectations that the American central bank will raise interest rates.
阅读约 4 分钟阅读
ServiceNow beats every target and the share still falls 6.5 percent
ServiceNow beats every target and the share still falls 6.5 percent. Why the margin rather than the growth decides the reaction.
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Vestas raises its margin target and starts a buyback, one bank stays sceptical
Vestas reported a 26 percent rise in revenue to 4.7 billion euros for the second quarter of 2026 on 12 August. The operating margin reached 9.4 percent. The Danish wind turbine maker then lifted its target range.
阅读约 4 分钟阅读
Meta loses eight percent in a day while Microsoft gains 15 percent
Meta loses eight percent in a single day while Microsoft gains 15. Why raised investment budgets no longer count as a good sign.
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Green steel in 2026, why the three billion euro project in Duisburg hangs in the balance
Financing for a three billion euro green steel project is being renegotiated because the hydrogen assumption failed. Technology, costs and support explained.
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Universal Health Realty lifts quarterly profit to 5.9 million dollars and raises the dividend
Universal Health Realty lifts quarterly profit to 5.9 million dollars and raises the dividend to 75 cents. Why rates matter so much for property trusts.
阅读约 4 分钟阅读
Tokyo at record levels, Beijing on hold, why Asia's markets are drifting apart in 2026
The Nikkei is at a record, Malaysia grows by 6.0 percent, China does not move. What divides the markets and why a single industry is behind it.
阅读约 5 分钟阅读
Eli Lilly grows 55 percent and becomes the most valuable drugmaker in the world
Eli Lilly lifts revenue 55.5 percent to 19.8 billion dollars and passes a trillion dollars in market value. Why the valuation leaves little room.
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PayPal grows five percent and operating profit still falls eight percent
PayPal grows five percent and operating profit still falls eight percent. Why buybacks of six billion dollars barely lift the earnings.
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Spotify reaches 300 million paying subscribers and the share still falls
Spotify passes 300 million paying subscribers and the share still falls. Why the licensing costs let the margin rise.
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Salesforce reports 3.4 billion dollars from AI subscriptions and still faces doubts on deals
Salesforce reports 3.4 billion dollars from AI subscriptions and still faces doubts on deals. Why guidance stays slightly below expectations.
阅读约 4 分钟阅读
Rheinmetall reaches an 80.5 billion euro order book and still cuts revenue guidance
Rheinmetall reaches an 80.5 billion euro order book and still cuts revenue guidance. What a halted frigate programme costs.
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IBM loses 25 percent and 73 dollars per share in a single day
IBM falls 25.2 percent and 73 dollars per share in one day. Why customers shifted their budgets from software to hardware at short notice.
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118.57 dollars in quarterly earnings per share, why Taiwan's record figures come from two very different sources
A 3,419 percent profit jump at a memory specialist, 281 percent at a merged financial group. Both figures are right and come about in different ways.
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Oracle plans fresh job cuts and borrows billions for data centres at the same time
Oracle prepares new job cuts while raising billions for data centres. Why the share falls despite 17 percent revenue growth.
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Italy takes over from Greece as the most indebted country in the eurozone
Italy will overtake Greece on public debt at the end of 2026 and inherit last place in the eurozone after two decades. The multi year budget plan of the Italian finance ministry puts the ratio at 138.6 percent of output.
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Broadcom could pile up 370 billion dollars of debt through its financing vehicle
Bank of America expects 370 billion dollars of debt in the financing vehicle for AI chips. Why Broadcom itself discloses only 29 billion of exposure.
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SpaceX share falls below its issue price after 911 million papers came free
The SpaceX share falls below its issue price after 911 million papers came free. Why a lock up period works so strongly.
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At Robinhood prediction markets bring in more than crypto trading for the first time
At Robinhood prediction markets bring in more than crypto trading for the first time. What event contracts are and why states are challenging them.
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Kongsberg passes ten billion kroner of revenue for the first time and the share still falls
Kongsberg passes ten billion kroner of revenue for the first time and the share still falls. Why order intake is the more important measure.
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Shopify grows 34 percent and the share jumps 26 percent before the open
Shopify grows 34 percent to 3.58 billion dollars and the share jumps 26 percent. Why payment processing drives the earnings.
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EasyJet cancels 98 flights in France as cabin crew complain of 60 roster changes a week
EasyJet cancelled around 100 flights to and from France over the weekend because of a cabin crew strike. The union SNPNC FO says at least 98 services were dropped, 47 on Saturday and 51 on Sunday.
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GameStop clears 1.4 billion dollars of debt without cash and the share falls twelve percent
GameStop swaps 1.4 billion dollars of convertibles for new shares. Why the balance sheet improves and the share still loses twelve percent.
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Volkswagen loses a third of its profit and drops its revenue guidance
Volkswagen loses a third of its profit and drops its revenue guidance. What China and the tariffs cost and why the electric orders do not help.
阅读约 5 分钟阅读
Visa and Mastercard both grow 14 percent and still trail the market
Visa and Mastercard each lifted revenue 14 percent yet lagged the broad market. Value added services, margins and one risk out of Europe.
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674 percent in one day, how a non-binding memorandum of understanding multiplied a stock sevenfold
A non-binding memorandum of understanding with no revenue figure met 1.65 million tradable shares. The result was a one-day gain of 674 percent.
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Berkshire buys Alphabet for 17 billion dollars and ends 14 quarters of net selling
Berkshire Hathaway raised its stake in Google parent Alphabet by around 17 billion dollars in the second quarter. Alphabet is now the third largest position in the conglomerate's equity portfolio.
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Nike books a 986 million dollar tariff refund and triples profit on paper
Nike books a 986 million dollar tariff refund and triples profit on paper. What is left after adjusting and how China is developing.
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Diesel costs more than 70 dollars above crude because the refineries are missing
The premium for European diesel over Brent rose from 25 to more than 70 dollars a barrel while crude itself fell. What sits behind the split.
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Snowflake grows 34 percent and reports on the next quarter on 27 August
Snowflake grows 34 percent and reports on the next quarter on 27 August. Why the consumption model makes the guidance special.
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Ukraine receives 90 billion euros from the EU, yet four fifths of its debt is in foreign currency
The European Union gave final approval on 23 April 2026 to an interest free loan of 90 billion euros for Ukraine. The funds are spread over 2026 and 2027. Around 60 billion euros are earmarked for defence.
阅读约 4 分钟阅读
McDonalds grows only 0.8 percent in the US and replaces its home market leadership
McDonalds grows only 0.8 percent in the United States and changes its home market leadership. Why drinks are the hope for the quarters ahead.
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Energiekontor confirms its guidance in the morning and cuts it by 88 percent in the evening
Energiekontor expressly confirmed its 2026 profit guidance with the half year report on Thursday morning. On the evening of the same day the wind and solar park developer from Bremen cut it sharply.
阅读约 4 分钟阅读
Paramount buys Warner Bros Discovery for 110.9 billion dollars and waits on the regulators
Paramount Skydance takes over Warner Bros Discovery for 110.9 billion dollars. How Netflix stepped away and what the delay fee says about the timetable.
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TNL Mediagene by the numbers, 300 million yen of trading volume and a delisting process under way
300 million yen in five days is documented. Three days earlier came the determination on the coming removal from stock exchange trading.
阅读约 5 分钟阅读
Five groups will spend up to 800 billion dollars on data centres in 2026
Amazon, Alphabet, Microsoft, Meta and Oracle plan 775 to 800 billion dollars of spending in 2026. Why investors now take that as bad news.
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Coca Cola sells more than in 17 years and the share reaches a record high
Coca Cola sells more than in 17 years and the share reaches a record high. What the football World Cup contributed to that.
阅读约 4 分钟阅读
Index rules in 2026, how MSCI and S&P decide on billions in flows to emerging markets
Index providers decide which countries count as emerging markets. How that classification works, which criteria matter and what a downgrade sets off.
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Pfizer beats expectations and still reports a loss per share
Pfizer beats expectations and still reports a loss per share. Why write downs of 4.3 billion dollars sit behind that.
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Soitec loses 34 percent of revenue and the share still rises 14 percent
Soitec loses 34 percent of revenue and the share still rises 14 percent. Why cash flow and photonics decide the reaction.
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Goldman Sachs delivers the best quarter of its 157 year history with 20.34 billion dollars
Goldman Sachs posts net revenue of 20.34 billion dollars, the best quarter in its history. Why results like that are hard to repeat.
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Japan's economy grows for a third quarter in a row but only half as fast as expected
The Japanese economy grew by 0.3 percent in the second quarter of 2026 against the previous quarter. That comes from preliminary government data published on Monday.
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AMD targets more than 80 percent growth in servers for the second half
AMD is aiming for more than 80 percent growth in its server business in the second half of 2026. Oracle builds the first public cluster with 50,000 units.
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Greek central bank warns on tourism as revenue jumps 26 percent
The Bank of Greece warns in its latest monetary policy report about climate change, overtourism and the growing dependence of the economy on travel. The warning lands in a year when travel revenue is rising sharply.
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Walmart trades at 37.6 times earnings and has to deliver this week
Walmart is valued at 37.6 times expected earnings and reports on 20 August. Why good numbers were not enough the last time round.
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Realty Income raises the dividend for the 115th time in a row and moves into data centres
Realty Income raises the dividend for the 115th time in a row and starts a six billion dollar data centre venture with a partner.
阅读约 4 分钟阅读
British American Tobacco cuts 5,500 jobs and grows only 2.9 percent
British American Tobacco grew only 2.9 percent and is cutting 5,500 jobs. What the gap between revenue and earnings says about the group.
阅读约 4 分钟阅读
Airbnb grows 17 percent and wins the most first time bookers in four years
Airbnb grows 17 percent and wins the most first time bookers in four years. Why revenue per booking grows more slowly than volume.
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Heidelberg Materials grows six percent and still trims its profit range
Heidelberg Materials grows six percent and still cuts the top of its guidance. Why the margin is the decisive measure in building materials.
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Berkshire buys again after 14 quarters and sits on 365 billion dollars of cash
Berkshire returns to net buying after 14 quarters and holds 365 billion dollars in cash. What was sold and how concentrated the portfolio now is.
阅读约 4 分钟阅读
一颗不属于任何人的糖，印度如何因为一场认错而有了第一只迷因股
一盒糖作为国礼，一段视频，一个相似的名字。印度如何因为一场名字上的认错而有了第一只迷因股。
阅读约 8 分钟阅读
Chevron repays 8.4 billion dollars of debt and faces the windfall tax debate
Chevron repaid 8.4 billion dollars of debt in the second quarter and invests at the low end of its plan. Why crude falls despite the conflict.
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Ukraine in 2026, why the 90 billion loan is melting away faster than planned
With military spending of around 450 million dollars a day, the European loan may not last to the year end. Figures, mechanics and the cost of reconstruction.
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The Nvidia boss warns of a bubble himself and proposes a model that reminds critics of 2008
Jensen Huang has warned of a possible bubble in artificial intelligence and stressed that the market for the underlying infrastructure is extremely cyclical. Once the demand surge fades, overcapacity could build up.
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Xos share explodes 120 percent after a first American air force contract
The Xos share rises 120 percent after its first defence contract. What the mobile charging system does and what figures sit behind it.
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Cloudflare cuts 20 percent of its jobs and grows 36 percent at the same time
Cloudflare cuts 20 percent of its jobs and grows 36 percent at the same time. Why 150.7 million dollars of restructuring costs explain the loss.
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Rio Tinto raises the interim dividend 43 percent to 3.4 billion dollars
Rio Tinto raises its interim dividend 43 percent to 3.4 billion dollars. Why copper rather than iron ore now carries the result.
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Disney beats clearly with 2.06 dollars per share but misses on revenue
Disney beats clearly with 2.06 dollars per share and misses on revenue. Why the parks carry the result while a rival reports falling visitor numbers.
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Nestlé turns the boom in weight loss jabs into a business of its own
Nestlé does not want to treat the success of weight loss jabs such as Ozempic and Wegovy as a threat, but to earn from it. The Swiss food group is using artificial intelligence to develop products aimed at the side effects.
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Netflix loses the race for Warner Bros and now bets on games and sport
Netflix walks away from Warner Bros Discovery and saves around 28 billion dollars. Why the company is now betting on games and sport.
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Talanx reports records in every division and pulls the DAX insurers up with it
Talanx lifted its profit in the first half of 2026 by more than expected and raised its outlook. The share gained 3.5 percent.
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Amazon lifts cloud revenue 37 percent and slips into negative cash flow
Amazon grows cloud revenue 36.7 percent and free cash flow falls to minus 7.6 billion dollars. How the build out is being financed.
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A maker of rails with 87 percent margin, how Kingslide became the most expensive share in Taiwan
A maker of slide rails posts a gross margin of 87.42 percent and passes 10,000 Taiwan dollars per share. How that came about.
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The CLARITY Act before the US midterms, why a bill hangs on three weeks in September
The most important American crypto bill hangs on three weeks in September. What it settles, where it is stuck and what happens if it fails in the Senate.
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Nvidia halves its guarantee for OpenAI from 250 to under 120 billion dollars
Nvidia has sharply scaled back its planned financing guarantee for an OpenAI data centre in Ohio. Instead of the roughly 250 billion dollars first negotiated, the chip group will initially cover less than 120 billion.
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Norway's wealth fund earns 184 billion dollars in the first half
Norway's sovereign wealth fund made a profit of 1.753 trillion kroner in the first half of 2026, worth about 184.3 billion dollars. The return came to 9.4 percent. It is the highest krone result in the fund's history.
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Kandi Technologies by the numbers, 2.9 million dollars to enter a billion dollar field
2.9 million dollars to enter a billion dollar field, alongside 211.9 million dollars in cash and a shrinking core business.
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The end of the CHIPS billions, why 2026 is the last funding year for America's chip plants
2026 is the last fiscal year with money for America's chip plants. What was paid out, what was renegotiated and what it means for Asia's makers.
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Cyberoo by the numbers, a financial year of 15 months and a receivable from its own major shareholder
Accounts covering fifteen months, a receivable from its own major shareholder and more than 200 consulting contracts arising from an EU directive.
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Taiwan's most expensive election, how rising costs decide who can even run
On 28 November Taiwan elects nine levels of office at once. How rising costs and a refund paid afterwards decide who can even stand for office.
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AI on credit in 2026, why data centres are changing the balance sheets of technology groups
The data centre build out is increasingly financed by debt. How negative cash flow arises, what ratings mean and what bondholders should watch.
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Vestas delivers record figures and one bank stays sceptical anyway, what lies behind the argument over earnings quality
Revenue up 26 percent, a margin of 9.4 percent, a buyback of 400 million euros. Why one bank still stays at underweight and what earnings quality means.
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EU and Australia in 2026, what the free trade agreement means for industry and raw materials
After eight years the talks are finished. Which tariffs fall, which sectors gain and why access to lithium is the real core of it.
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Value-Up in South Korea in 2026, how a country wants to reduce its valuation discount
South Korea is reducing the Korea discount with governance reforms. What the programme covers, what role tax incentives play and where the biggest risk lies.
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Indonesia 2026, how a growth economy is losing its own stock market
The Jakarta benchmark index is the world's weakest and the rupiah at a record low. Figures, causes and the role of the state fund and the central bank.
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