Tony Grandsire

Elon Musk's $10bn SpaceX gift

Elon Musk is promising a SpaceX share to every American child next year. The gesture is spectacular, but it comes on the eve of earnings in which the group will above all have to convince its adult shareholders that its growth justifies the AI bill and an extraordinary valuation.

October 19, 2026 at 06:41 pm

VIX jumps 21%, what impact will it have on markets?

The US market's volatility index surged Friday to finish just shy of 20, its highest level in four months. Yet that level is in line with its long-term average, shifting the real question away from the figure itself and toward how quickly it was reached.

October 19, 2026 at 01:02 pm

MarketScreener's odds and ends: the Nobel Prize comes at just the right time, yens come home, Meta's Muse has fun

This week, the Nobel Prize in economics honors the tools of the Fed and the ECB, Japanese investors finally repatriate their capital after the 10-year yield breached 3% for the first time since 1996, and Meta moves straight to the front of the AI race.

October 15, 2026 at 06:43 pm

TSMC profit jumps 69%, sixth consecutive quarterly record

TSMC posted record Q3 net income, up 68.7% y-o-y, driven by demand for chips dedicated to artificial intelligence. The world's leading contract semiconductor manufacturer beat expectations and forecasts another sharp increase in revenue in Q4.

October 15, 2026 at 12:48 pm

India, a fiscal signal and an index back at support

India's finance minister opened the debate Tuesday on the tax levied on every stock market transaction in the country, with shares jumping. Behind that signal is a market weighed down by oil and down 14.3% this year, although the decline is concentrated in just a handful of stocks, and has returned to a major technical support level.

October 14, 2026 at 05:59 pm

Nscale raises $3.4bn ahead of IPO, a symptom of the neocloud model

UK-based Nscale has completed a $3.36bn convertible bond financing led by Third Point and backed by Nvidia. Behind this pre-IPO funding round lies the fragility of a model that hyperscalers helped create, then had to support.

October 14, 2026 at 05:58 pm

Is it reasonable to invest in humanoid robots this early?

Humanoid robots are playing an increasingly prominent role in public debate and in the research budgets of major technology companies, even though their industrial reality is not always well understood. This article examines the key issues, how a humanoid robot works, the current state of the technology, the main players and ways to gain exposure to the theme.

October 14, 2026 at 05:55 pm

What future do fabless companies have in the age of AI?

The best testing ground is probably the semiconductor sector, where companies that design chips without manufacturing them occupy the most profitable business in technology, a business whose entire advantage rests on things that can be written down. That is exactly what AI models do best, which is why physical industry may appear to be the least exposed.

October 12, 2026 at 06:22 pm

Telecom Operators at a Turning Point, with Deutsche Telekom on the Front Line

SpaceX has bought the radio spectrum it was missing in the United States to turn Starlink into a true mobile phone operator, for about $8bn, according to The Wall Street Journal. The three major US carriers fell, and Deutsche Telekom followed in Frankfurt, as it is the first European operator to have signed with Starlink.

October 09, 2026 at 01:37 pm

Growth, debt, inflation, deficit: Is there still a top student in Europe?

Amongst Europe's major economies, only one meets all four criteria, and that's Denmark. The bond market confirms it: France now borrows at 10 years at a higher cost than Italy, Greece, Spain and Portugal.

October 08, 2026 at 06:41 pm

Italy wants to take back the market for its own debt from Euronext

The Italian government is studying the purchase of Euronext's 63% stake in MTS, one of Europe's largest bond platforms and the venue where the Italian government's debt is issued and traded. The stake is valued at around EUR600m.

October 08, 2026 at 01:15 pm

A mysterious OpenAI model makes advances in mathematics

An internal OpenAI model produced a result on the Riemann hypothesis, an open problem since 1859, that leading mathematicians consider worthy of a Fields Medal. It is one of 722 manuscripts the company posted online Tuesday, all produced by a model it has neither named nor made accessible.

October 08, 2026 at 12:49 pm

A Brutal Fall for European Banks

The STOXX Europe Banks index fell 3% on Wednesday, bringing its annual gain back to around 13%, just as bond yields were surging across the eurozone. Banks are nevertheless supposed to be the big winners from rising rates, an argument that helped them post their best year since 1997 in 2025.

October 08, 2026 at 11:20 am

The Bias That Makes You Sell Your Best Stocks Too Soon

You sold a rising stock to lock in the gain, and held on to the one that was falling, waiting for it to recover. The landmark study on the subject shows that, the following year, the former outperformed the latter by an average of 3.4%. What misleads you is called the disposition effect.

October 07, 2026 at 07:15 pm

How Elis wiped out EUR377m of debt with 2.3% dilution

Elis converted EUR376.7m of convertible bonds into shares on Wednesday, representing 99.13% of the tranche issued in 2022, handing 23.6 million shares to bondholders. The industrial laundry group, however, drew more than three-quarters of those shares from its treasury stock, bringing the actual creation of new shares to 2.3% of capital.

October 07, 2026 at 05:23 pm

Six European stocks with a lot at stake in Brazil's runoff

The São Paulo stock exchange hit a record high, while the MSCI and FTSE Brazil indexes gained more than 10% after Flávio Bolsonaro's surprise qualification at the top of the first round on October 4. Several major European companies generate between 10% and 28% of their business in Brazil and have been drawn into an election whose runoff will take place on October 25.

October 07, 2026 at 03:49 pm

How Elis wiped out €377m of debt with 2.3% dilution

Elis converted €376.7m of convertible bonds into shares on Wednesday, representing 99.13% of the tranche issued in 2022, handing 23.6 million shares to bondholders. However, the industrial laundry group sourced more than three-quarters of those shares from its treasury stock, bringing the actual creation of new shares to 2.3% of capital.

October 07, 2026 at 02:10 pm

A year after its record, bitcoin wakes up and plays by its own rules

Bitcoin is trading at around $86,150, up 13% in three weeks and 35% in two months, although it is still 30% below its October 6, 2025 record. This recent rise has absorbed the failure of the CLARITY Act, the highest interest rates since 2002 and a deteriorating macroeconomic backdrop without flinching.

October 07, 2026 at 11:34 am

The Best M&A Vintage Since 2001 Played Out in Six Months

Mergers and acquisitions totaled $3,900bn in the first nine months of 2026, up 28% from last year and the highest level since 2001, according to LSEG. The number of deals is nevertheless expected to fall 13% for the year, according to PwC, signaling a record driven by a handful of very large transactions while the rest of the market contracts.

October 06, 2026 at 06:13 pm

Elliott confirms position in Air Liquide and wants to accelerate share buybacks

On Tuesday, activist fund Elliott confirmed that it holds a "significant economic exposure" to Air Liquide, two days after the presentation of the BEYOND strategic plan. It believes that the EUR4bn share buyback program planned for 2027 and 2028 "should begin immediately."

October 06, 2026 at 04:58 pm

Gold corrects, should investors prefer miners to the metal?

After nearly touching $5,600 an ounce in January, gold was trading at around $4,140 in early October, meaning that a quarter of its value has evaporated. Central banks, meanwhile, have never bought so much, while mining stocks, supposedly expected to amplify gains in the metal, have mainly amplified the decline.

October 06, 2026 at 01:04 pm