Oct 18, 2026
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6 min read
The Nasdaq just had its worst week since June while the FTSE 100 had its best in six months. Every major AI sell-off of the past two years has been bought. But this time, the problem may not be demand for AI. It may be the cost of financing it.
Oct 17, 2026
Part 2 of 2. In Part 1 on Thursday I suggested the path of least resistance was a modest rise in the bank surcharge. Within hours, Bloomberg reported that is broadly what the Chancellor is planning. So, what would this action actually do to lending, bank shares and the Treasury's coffers?
Oct 16, 2026
This week the two companies at the bottom of the AI supply chain said demand will outstrip supply into 2028. Markets responded with a global chip rout and record costs to insure against AI credit defaults. The problem isn't the makers of the picks and shovels, it's the people borrowing to buy them.
Oct 15, 2026
Part 1 of 2. Two weeks before the Budget, Britain's banks face the prospect of another tax raid. But what exactly would the Treasury be taxing: lucky profits, the reward for prudent risk management, or income created by the BoE's own policy?
Oct 14, 2026
5 min read
Record sales, record margins, demand visibility stretching to 2030 and a reported 10% price increase locked-in. The shares rallied, but at roughly 58× earnings, the real question is how much is already in the price.
BP says its reset is working; America’s banks say the consumer is holding up. Both have the numbers, but the question is whether they hold when the tailwinds fade.
Oct 13, 2026
4 min read
Hock Tan suggests some investors have "no clue" what they are buying. ASML's Q3 Results tomorrow should give us some insights.
Oct 11, 2026
The US president says Ukraine is causing "problems for the world" by hitting Russian refineries. The fuel crisis he's trying to fix before the midterms started somewhere else.
Oct 10, 2026
7 min read
We looked at what a CGT rise could look like. Now comes the harder question: what would it actually do to tax receipts, markets and the people paying it?
Oct 9, 2026
Tesco rips on raised profit, but underneath, the British shopper is quietly changing what goes in the basket.
Oct 8, 2026
Porsche goes after the prancing horse & SpaceX wants to borrow $40bn to buy Nvidia chips.
Oct 7, 2026
8 min read
Part 1 of 2. Three weeks before the Budget, the tax almost nobody pays is the one everybody is talking about. What would a rise look like and who would it hit?
Oct 6, 2026
When resilience and competition collide, Britain has shown which way it leans.
Oct 4, 2026
Britain's biggest supermarket is still growing, but how is the consumer holding up? We should get some clues when Tesco reports its Interims this week.
Oct 3, 2026
Diesel hits £2, the G7 raids its reserves, the Nasdaq hits a high on weak jobs & future governments may have to pay the price
Oct 2, 2026
Britain suffering from global repricing of money + Micron shows why even exceptional corporate results can still disappoint
Oct 1, 2026
Greggs beat the GLP-1 doom-mongers, Micron smashes it again & Treasuries keep selling off anyway.
Sep 30, 2026
3 min read
Oura had 4-5x times more orders than shares. So why did it delay the IPO?
Sep 29, 2026
Pain for property shorts + Nvidia's record buyback + gold slides
Sep 28, 2026
I don't care what sauce the Chancellor puts on his bacon roll + The Week Ahead
Sep 27, 2026
A revival would be instant good news for housebuilders, but will it actually get Britain building?
Sep 26, 2026
Half a million jobs gone in 2026. Every company has a reason. The question: are they telling you the truth?
Sep 25, 2026
Brent back at $105, BoE talks hikes, GS earns $200m from Situational Awareness & Meta continues to rip.
Sep 24, 2026
Markets' "broad rally" meets reality!
Sep 23, 2026
Nasdaq Notches Record High + The Tech Engine
