Archive
Browse market commentary, macro analysis, and student-led reporting.
Markets15 July 2026
South Korea's shipping cartel ran for 15 years across three major trade routes. The case is a textbook study in how cartels form, how they enforce discipline, and why concentrated industries make collusion so hard to prevent.
ShippingCartelsSouth KoreaAntitrustOligopoly
Jay Patel9 min read
Read ArticleMarketsGlobal Healthcare10 July 2026
Vertex's $10 billion acquisition of Crinetics is about far more than adding another drug to its portfolio. It is a strategic bet on an endocrinology platform that could fuel the company's next phase of growth.
Vertex PharmaceuticalsCrinetics PharmaceuticalsBiotechnologyMergers & Acquisitions
Abdul Wasey Bhatti6 min read
Read ArticleMarketsPrivate Equity6 July 2026
A £5.7bn approach for DCC is as much a bet on the Irish conglomerate's years-long transformation into an energy distributor as it is a straightforward take-private deal, and it says as much about KKR's ambitions as it does about DCC itself.
KKRDCCEnergyMergers and Acquisitions
Sonal Weerasekera7 min read
Read ArticleMarketsPrivate Equity3 July 2026
From preferred equity deals for LP stakes to carried interest loans for executives, private equity is manufacturing liquidity at every level of the food chain. The exit market remains blocked. The workarounds are getting bigger.
Private EquitySecondariesCarried InterestLiquidityMergers and Acquisitions
Alexander Eklund7 min read
Read ArticleMarketsGlobal Healthcare3 July 2026
As NHS waiting lists for autism assessments pass 200,000, private capital is flowing into neurodiversity services – forcing the question of whether profit and patient care can ever be aligned.
Private EquityHealthcareAutismNeurodiversityNHS
Abdul Wasey Bhatti8 min read
Read ArticleFrom rocketing IPOs to frothy market sentiment, at face value, today’s AI trade unmistakably mirrors the dot-com bubble – only this time the fallout could be far more destructive.
Martim Domingos7 min read
Read ArticleMarketsPrivate Credit29 June 2026
Pimco, the $2.3tn bond giant built on public markets, is quietly becoming one of the most powerful actors in private credit with mega-deals for Meta and Oracle, lending to Gulf states in wartime, and exploiting the liquidity crunch hitting rival funds.
PimcoBondsSovereign DebtData Centres
Sonal Weerasekera10 min read
Read ArticleMarketsGlobal Healthcare26 June 2026
A single FDA reversal sent Regenxbio's shares soaring and reignited optimism across gene therapy - but one favourable decision cannot solve the commercial challenges that pushed the industry into crisis.
Gene TherapyBiotechnologyFDAHealthcare
Abdul Wasey Bhatti6 min read
Read ArticleThe DOJ says criminal charges are now on the table for firms that use algorithms to coordinate prices. The question at the heart of the case is whether software can produce cartel-like outcomes without anyone picking up a phone.
Algorithmic PricingAntitrustCollusionRealPageCompetition
Jay Patel10 min read
Read ArticlePeace on the warfront provides an opening to sift through the rubble and take account of the damage done so far.
Martim Domingos9 min read
Read ArticleMarkets22 June 2026
Five years after TDR Capital and the Issa brothers' £6.8bn leveraged buyout, Asda has posted a £989mn loss and seen its UK grocery market share fall to a record low. The question is whether the private equity playbook is compatible with running a thin-margin grocer in one of the world's most competitive retail markets.
Private EquitySupermarketsAsdaDebt
Sonal Weerasekera8 min read
Read ArticleMarketsGlobal Healthcare19 June 2026
Novo Nordisk and Eli Lilly have proven GLP-1 drugs can deliver surgery-level weight loss - but with patients regaining much of it after stopping, the market's real value may depend on long-term adherence rather than who wins on efficacy.
GLP-1ObesityNovo NordiskEli LillyPharmaceuticals
Abdul Wasey Bhatti5 min read
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