Everything we have published, newest first.
In pharmaceutical M&A, the most expensive mistake is paying a premium for a future that clinical trials may never deliver - and three years on, Seagen's pipeline is testing that thesis.
5 min read
Steam, electricity and computers each took decades to show up in productivity statistics. History suggests AI could pay off faster, but history also tells us that gains depend on how quickly firms reorganise.
9 min read
Every Wednesday, Newcastle's sports societies turn a post-match tradition into one of the city's most predictable markets. A survey of 106 students shows where the money goes, why students keep spending it, and how venues price to take advantage.
13 min read
Anthropic is preparing to go public, but is the market ready for its extraordinary cash flows, speculative financing and mountain of infrastructure commitments built in pursuit of ever more powerful AI? The US economy is now hoping Anthropic can eventually turn that promise into certainty, and the question is: how long will Wall Street wait?
6 min read
Bosnia's voters have rewarded the very leaders who stand between them and Europe, and the EU has made that obstruction cheap. Brussels can still pull the country west, but only if it stops waiting for Bosnia's leaders to make the first move.
10 min read
On 28 October, John Healey delivers his first Budget as Chancellor. He has made three promises that pull in different directions, and the numbers have moved against him since he made them.
8 min read
Germany has a reputation as a global powerhouse but in recent times its economy has struggled. Long term factors, geopolitical shocks and government responses shaping the German economy, all beg the question: can Germany climb its way back?
10 min read
The government's new first-time buyer scheme promises to make homeownership more accessible and boost housebuilding. But how much of the benefit will reach buyers, and how much could end up with developers?
7 min read
Britain’s turn to drones and a ‘hybrid’ navy is sound strategy but funded at the margins and arriving in years with no money allocated, it is modernisation bought on an austerity budget.
10 min read
Robert Hall and Michael Woodford won the 2026 Nobel Prize in Economics for rebuilding macroeconomic models around how households and firms form expectations. This piece provides an insight into their work and what it means for central banks today.
7 min read
As global passive ETF assets under management approach $24 trillion, billions in savings are rushing into index-tracking fund for a sense of diversification, and the market structure is being changed dramatically. From the loss of active price discovery in market to creating the passive feedback loops for investor, the loss of active arbitrageurs in market is creating an enormous concentration risk for investors.
9 min read
Washington’s new sanctions have left no middle ground between Washington and its adversaries. The UAE has given way, Turkey is hedging, and India is bending, but the evidence indicates that the middle ground is not disappearing but moving.
11 min read
Fears over AI’s potential existential threat have entered the economic mainstream. As the US competes with China to lead the technology’s development, the prospect of slowing its advance looks increasingly remote.
9 min read
Japan's currency has continued to fall despite rising interest rates, exposing the limits of monetary policy when global markets move against domestic priorities.
5 min read
In 2013 there were 39 unicorns. Today there are over 1,300. But how many of them justify their immense valuations?
13 min read
France’s bond revolt is starting to look less like a market wobble and more like a eurozone-style warning, as political paralysis, rising borrowing costs and a government with little incentive to shrink the debt pile threaten to drain investor confidence and leave the French economy paying the bill.
6 min read
As governments and technology companies compete for increasingly expensive capital, rising bond yields are reshaping the cost of borrowing. Does the growing demand for debt means for governments, financial markets and the future of the AI boom.
6 min read
From next April, the full state pension will be taxed for the first time. Two policies that were never meant to meet have collided, and the Chancellor has until the Autumn Budget to decide who pays.
9 min read
The London discount looked like the reason UK companies keep being bought. It was really the lender's underwriting policy, and that sets the ceiling regardless of where the shares trade.
7 min read
As Britain races to expand its electricity grid, Ofgem's new commitment fees should thin out a crowded connections queue, but only if they test whether projects are progressing rather than how deep developers' pockets are.
11 min read