Elon Musk's personal fortune is now equivalent to more than 4% of U.S. GDP, @robcyran.bsky.social calculates. John D. Rockefeller managed less than half that figure when he died in 1937. www.breakingviews.com/columns/cons...

Why ASML the monopolist doesn’t act like one @jen-johnson.bsky.social www.breakingviews.com/columns/cons...

What is Elon Musk's imagination worth? www.breakingviews.com/calculators/...

What's SpaceX really worth? Toggle away on Breakingviews' calculator www.breakingviews.com/calculators/...

StanChart starts bank AI job cull with a whimper - www.breakingviews.com/columns/brea... @liamproud.bsky.social

AI bubble? Highest-rated Big Tech stock (12-month fwd PE) is Apple, i.e. the least AI-exposed... Meta and Microsoft in line with, or at a discount to, the S&P 500...

Middle Eastern oil🛢️exporters need a plan B. Building new pipelines, to get around the Strait of Hormuz, could cost $55 bln. Here's why it might be a sound investment for Saudi, UAE and Qatar, by @georgehay.bsky.social www.reuters.com/commentary/b...

UK gov AI Security Institute's verdict on Anthropic’s Claude Mythos www.aisi.gov.uk/blog/our-eva...

Masayoshi Son represents fragile link in AI chain www.breakingviews.com/columns/big-...

Gulf money will boost Europe's defence startups www.reuters.com/markets/asia... @georgehay.bsky.social

How insider-trading fears harm prediction markets www.reuters.com/commentary/b... @jen-johnson.bsky.social

"What emerges may be a wounded Iran, but a bleeding Iran could prove just as dangerous -- and perhaps more unpredictable -- than the establishment that entered this conflict." www.reuters.com/world/middle...

Banks’ capital steroid use warrants extra scrutiny www.breakingviews.com/columns/big-... @liamproud.bsky.social

For all the talk of cryptocurrencies going mainstream, this is the wobbly pillar on which the edifice rests: Tether’s stablecoin has a shrinking cash buffer and has parked more of its assets in bitcoin, gold and other illiquid investments. Via @liamproud.bsky.social www.reuters.com/commentary/b...

Stablecoin giant is crypto’s fragile foundation www.breakingviews.com/columns/big-... @liamproud.bsky.social

Bitcoin ETF holdings are massively under water. Separately, half of all bitcoin in circulation is now worth less than its most recent on-chain purchase price

Bitcoin now trails German, UK and U.S. stocks over a two-year period. Gap much bigger (in stock markets' favour) if you include dividends, which this chart doesn't

Artificial intelligence will hurt incumbent software, data and professional services companies. But it won't destroy them outright. At least, that's what public-market investors seem to think www.breakingviews.com/columns/big-...

YouTube is eating TV (streamers too) - and there's not much that traditional broadcasters can do about it @jen-johnson.bsky.social www.reuters.com/commentary/b...

The US immigrant population generated more in taxes than they received in benefits from all levels of government every year from 1994 to 2023. The Cato study provides the first-ever 30-year analysis of the fiscal effects of immigration on government budgets. https://ow.ly/jy8a50Y8kM3

CVC pays up for a more credible growth story www.breakingviews.com/columns/brea... @liamproud.bsky.social

What Ukraine’s resilient banks can teach Zelenskiy @pierrebri.bsky.social www.reuters.com/commentary/b...

Could Europe sell its $14 trln of US financial assets to pressure Trump on Greenland? Not really www.breakingviews.com/columns/brea...

It's the final day of the 13 Days of Predictions from @breakingviews.reuters.com. Here's my recap: www.reuters.com/commentary/b... And download the full e-book here: newslink.breakingviews.com/join/5aq/pre...

Introducing ‘Predictions 2026’, a new e-book from Breakingviews laying out the deals, companies, people and market moves that will shape the year ahead. Access the book 👉 reut.rs/3YDKKwu Or read articles online 👉 reut.rs/45puKSz

The biggest M&A deal ever. A crypto bailout. Just some of the things Breakingviews columnists predict for 2026 in a new e-book, ‘Far Side of the Boom’. Access the book 👉 reut.rs/3YDKKwu Or read articles online 👉 reut.rs/45puKSz

Introducing ‘Predictions 2026’, our e-book laying out the deals, companies, people and market moves that will shape the year ahead. Access the book 👉 reut.rs/3YDKKwu Or read articles online 👉 reut.rs/45puKSz

Corrective to the Big Tech AI leverage fears: Even if all next year’s capex was funded with debt, the five hyperscalers' combined borrowings would still be just 1 times EBITDA. And aside from Oracle, CDS have not risen v much www.reuters.com/commentary/b...

Commentary | The case for a big, one-off wealth tax www.reuters.com/commentary/b...

Tether megaraise may mark peak of stablecoin party - www.breakingviews.com/columns/brea... @liamproud.bsky.social

For several years I've written a weekly note to the @breakingviews.reuters.com team, picking out key insights and ideas. Some colleagues urged me to share these musings more widely. So behold The Week in Breakingviews, free in your inbox each Saturday. Sign up here: www.reuters.com/newsletters/...

UBS hardy valuation jars with bank's capital gripe - www.breakingviews.com/columns/brea...

OpenAI gives fair warning to masochistic investors www.breakingviews.com/columns/cons...

Combined capex at Microsoft, Amazon, Alphabet and Meta will surpass ALL listed American AND European utilities companies combined (same for energy, consumer, industrials etc.) [per UBS]

BREAKING: Israeli strikes on Nasser Hospital in Gaza killed at least 15 people, including three journalists, one of whom worked for Reuters, Palestinian health officials said reut.rs/45OFPfr

Dear retail traders: 'can’t lose’ means can’t win www.reuters.com/commentary/b...

European defence stocks send false peace signal - www.breakingviews.com/columns/brea... - @liamproud.bsky.social

Apollo-Brookfield UK pension race has two winners - www.breakingviews.com/columns/brea... - @liamproud.bsky.social

Ideal new HSBC chair would be opposite of its last - www.breakingviews.com/columns/brea... - @liamproud.bsky.social

Evercore’s Robey Warshaw deal sums up key-man risk - www.breakingviews.com/columns/brea... - @liamproud.bsky.social

Europe’s absurd US investment pledge brings risks www.breakingviews.com/columns/cons...

Orcel’s UniCredit M&A whirlwind turns into a fog - www.breakingviews.com/columns/brea... - @liamproud.bsky.social

From Breakingviews - Breakingviews - Big Pharma pioneers the TOFU tariff trade reut.rs/4mbWb8x

French PM Bayrou has likened his task reducing his country's heavy public debt load to "climbing the Himalayas." His damp squib of a budget shows him stuck in base camp. www.breakingviews.com/columns/cons...

Jane Street’s India spat touches regulatory nerve - www.breakingviews.com/columns/big-... - @liamproud.bsky.social

Author Douglas Hofstadter's entertainingly jaded response to fans emailing about having "discovered" AI sentience garymarcus.substack.com/p/are-llms-s...

UK’s City makeover inches towards risky final act - www.breakingviews.com/columns/cons... - @liamproud.bsky.social

Thames Water, with 16 bln pounds of debt, seems like an asset nobody wants. Yet hedge funds including Elliott could still make a killing on the distressed London utility www.breakingviews.com/columns/cons...

Today I learned: JPMorgan's Chase had more UK deposits at end of 2024 than any of the much more established neobanks (according to UBS analysts)

Really interesting piece by @liamproud.bsky.social on the (lack of) dollar hedging. The giant Japanese Public Investment Fund has about a third of its $1.7 trillion assets invested in the US, almost all of it unhedged. @breakingviews.reuters.com www.reuters.com/breakingview...