Macquarie Flags ESOP Costs, Revenue Concentration Concerns over PhonePe IPO
Macquarie has highlighted two key risks in PhonePe’s upcoming IPO: elevated Employee Stock Ownership Plan (ESOP) expenses that compress EBITDA margins, and a heavy reliance on a few revenue streams that could be hit by regulatory shifts. The broker estimates that new regulations may shave 20‑25% off PhonePe’s top line. The IPO will also feature an offer‑for‑sale component, adding further dilution concerns. Analysts will watch how the company addresses these cost and concentration issues before pricing.
Stay Cautious on Retail, Long Amazon, Short Walmart, Costco
(In contrast to the bullish view expressed yesterday on the Fin TV show - see SLINK's confident consumer outlook on @cnbc), we remain cautious on the consumer. This week we put on a three way pairs trade - long $AMZN/Short $COST...
INSM Projects 2026 Brinsupri Sales Minimum $1B
$INSM guides to 2026 Brinsupri sales of "at least $1B" in line with consensus. https://t.co/o7JhPKU3m1
Bank Indonesia Keeps Rates Steady, as Rupiah Weakness Threatens to Delay Easing
Bank Indonesia left its policy rate unchanged at 4.75% as the rupiah continued to weaken amid fiscal‑sustainability concerns and volatile investor sentiment. Moody’s downgraded Indonesia’s credit outlook to negative, reflecting uncertainty over policy direction and transparency. Real‑rate differentials with the...
Walmart's Earnings Slide Mirrors Modern Retail Reality
You've got the same-day delivery guy with the influencer POV phone setup. The Walmart earnings presentation cover slide is a snapshot of the state of retail https://t.co/71SdhBOqeq
Retail Private Credit Set to Reach Trillions, Threaten Industry
The volume of retail-focused private credit funds has ballooned over the last few years, and is expected to grow to trillions of dollars of assets in that next few years. This points to why this could challenge the broader industry:...
An Update to the Update of One of My Favorite Energy Credits
The episode revisits the author’s earlier research reports from October and December 2025 on a leading natural‑gas utility, reaffirming its investment thesis built on ultra‑low leverage, a management team focused on debt reduction, high‑quality assets, and accelerating free cash flow....
Retail Investors Dump $8.3B, Near‑Historic Outflows
BofA Clients Sold Stocks at Near-Historic Levels via Bbrg: “Clients dumped US equities last week, with outflows reaching near-historic levels.” “Outflows were the *third highest* since records began in 2008.” [$8.3 Billion] *Who will be right: Retail/HFs or Institutions?
Kimmeridge-Mubadala JV to Acquire SM Galvan Ranch in Texas
Mubadala and Kimmeridge’s joint venture Caturus will buy SM Energy’s Galvan Ranch for $950 million, adding 250 MMcfed production from 260 wells. Post‑deal, pro‑forma net output rises to about 950 MMcfed. The acquisition gives Caturus over 275,000 net acres across the Gulf Coast...
Belgian Dentists Shift Half Pension to Private Credit
Belgian dentists recently allocating 50% of their pension pot to private credit after volatility has come down a notch. https://t.co/vOglUU153U
Markets Signalling a Broader Base for Upside; Positive on Financials, Says Devarsh Vakil of HDFC Securities
Devarsh Vakil, head of prime research at HDFC Securities, says Indian equities are showing a broader base for upside after rebounding from the February 2, 2026 lows. He highlights resilient corporate earnings and a particularly positive outlook for financial stocks....
25 Rigs Out of Borr Drilling’s 29-Strong Fleet Either on Hire or with Jobs Lined Up
Borr Drilling now has 25 of its 29 jack‑up rigs either under bareboat charter or with confirmed jobs, covering regions from Southeast Asia to the Americas. The firm’s day‑rate equivalent backlog grew to $1.2 billion, reflecting more than 1,150 contracted days....
The Peasant Threat: Xi Jinping’s Mandate in Peril
The episode examines how China’s historic social contract—economic prosperity and stability in exchange for political passivity—has begun to unravel, especially as the middle class faces a real‑estate crisis and young graduates confront stagnant wages. It links the ancient "Mandate of...
CRISPR Therapeutics Gains After Earnings as Pipeline Hope Grows
CRISPR Therapeutics shares rose over 12% after reporting Q4 2025 earnings that showed a larger‑than‑expected loss and minimal recognized revenue. The company’s flagship therapy CASGEVY generated $54 million in sales, but under its revenue‑sharing deal with Vertex only $0.86 million was recorded. CRISPR...
Uganda Overtakes Rwanda, Tanzania in Startup Funding
Uganda attracted $30 million in venture capital in 2025, surpassing Rwanda ($12 million) and Tanzania ($5 million). The number of Ugandan deals doubled to 22, marking a seven‑fold increase from the previous year. Local financing from Uganda Development Bank and supportive tax incentives...
US ETF Launches From 12th to 19th February, 2026
Between February 12 and 19, 2026, U.S. exchanges saw a flurry of 25 new exchange‑traded funds covering a wide range of sectors and strategies. Highlights include the first share‑class offering from F/m Investments, Simplify’s DBi CTA Managed Futures Index ETF,...
Steve Cohen's Hedge Fund Delivers $3.4B Payday, 2025 Top
Mets owner Steve Cohen got a $3.4 billion payday from his hedge fund last year. Here are the top earners in 2025: https://t.co/ZRuqldhcBZ https://t.co/p6eqszYRZM
EU Gas Storage at 32%—Second Lowest Since 2011
EU GAS STORAGE facilities are now less than one-third full, with more than a month of the winter heating season probably still ahead. Storage facilities were on average 32.5% full on February 17, the second lowest seasonal fill in records...
Deere Soars as Tractor Maker Sees Upturn in Farm Economy
Deere & Co. saw its shares jump the most in six years after the company lifted its annual profit outlook. The farm‑machinery giant said it expects a sustained upturn in the global agriculture economy. CEO John May highlighted recovering demand...
India's Exports Surge Despite Higher US Tariffs
From the World Bank’s Global Economic Prospects: Indian merchandise exports rose despite higher US tariffs. MODI’S ON A ROLL. https://t.co/yxKowcoHyv
China’s Economy Is Robust for Year of the Horse Despite Headwinds: FTSE Russell
FTSE Russell reports that China’s economy remained robust in 2025, achieving its 5% GDP growth target despite a deceleration in the final quarter. Industrial activity continued to be a bright spot, offsetting persistent deflationary pressures. The slowdown to 4.5% growth...
Malawi: Malawi Signs Strategic Mineral Deal With U.S., But Questions Linger Over Transparency
Malawi has signed a memorandum of understanding with U.S. trading firm Traxys North America to market graphite from the Kasiya rutile‑graphite project, aiming to supply up to 80,000 tonnes annually to the United States’ Project Vault strategic reserve. The deal,...
Gary Mar: Why Canada Needs a New National Agriculture Strategy
Gary Mar argues that Canada’s $150 billion agriculture sector, responsible for $92 billion in exports and roughly one‑in‑nine jobs, is hampered by fragmented infrastructure and the absence of a coordinated national strategy. He highlights bottlenecks such as rail bridges and interprovincial trade...
RBNZ Governor Anna Breman: Monetary Policy Must Focus on the Future
RBNZ Governor Anna Breman stressed that New Zealand’s monetary policy must be anchored in forward‑looking inflation forecasts rather than current price data, given the lag between rate changes and economic impact. She reaffirmed confidence that inflation will return to the 2 percent...
Warmer Weather Hits Profits at British Gas Owner
British Gas, owned by Centrica, saw operating profits in its residential supply business drop 39% to £163 million in 2025, partly due to an £80 million hit from the UK’s warmest year on record, which reduced heating demand. Despite the profit slump,...
Vietnam New Zealand Seek Level up in Ties
New Zealand’s agricultural exports, especially fresh fruit, rely on unique climate conditions and rapid air‑freight logistics that preserve peak quality. Vietnam’s expanding middle class and growing health consciousness are turning the market into a strategic destination for premium NZ produce...
Geopolitical Jockeying in Nepal Ahead of March General Elections
The September 2025 Gen Z uprising toppled Prime Minister K.P. Sharma Oli and installed an interim government, prompting India, China and the United States to converge on a common goal: prompt, stable elections in Nepal. All three powers fear prolonged instability could...
Ghana: President Sets Ambitious Target to End Raw Mineral Exports Within 5 Years
President John Dramani Mahama announced Ghana's goal to cease exporting raw minerals within five years, shifting toward domestic refining and processing of oil, bauxite, manganese, and lithium. He highlighted the sector's $6.6 billion export revenue in 2023 but noted limited local...
Why the IMF’s Newest Report Finds that the Yuan Is Undervalued
The International Monetary Fund’s latest World Economic Outlook finds the Chinese yuan about 16 % below its equilibrium level. The IMF’s valuation combines a trade‑weighted basket of currencies with purchasing‑power‑parity calculations, reflecting China’s sizable trade surplus and capital‑control regime. It warns...
Propane Industry Deep Dive Reveals Hidden Value
One of the best deep dives I’ve seen recently is on the “boring” propane industry, by Emeth Value Capital. Covers regulation, supply & demand, and detailed public company breakdowns. Also part of the $SPB.TO pitch. If you like learning new industries, this...
FPIs Add ₹14,000 Cr Equity in February
FPIs have finally started some buying, it looks like - in equity, they've added about 14,000 cr. in Feb this far: https://t.co/6Ag6kWbKnh
Budgeting For A Car Saving Money
Budgeting for a car requires a structured plan that goes beyond the purchase price. The guide emphasizes setting a clear, realistic savings goal, accounting for the full cost of ownership, and choosing between new and used vehicles. It recommends automating...
Uber Moves to Enact Stricter Background Checks for Drivers
Uber announced it will tighten driver background checks by permanently barring anyone convicted of violent felonies, sexual offenses, and child or elder abuse, regardless of how long ago the crime occurred. The move follows a New York Times investigation that...
Tech, Media & Telecom Roundup: Market Talk
Bitcoin rose 1.4% to $67,202 after reports Nvidia will supply Meta with large‑quantity processors, lifting tech and semiconductor stocks. Jefferies highlighted Chinese AI startup MiniMax’s strong model performance and cost‑effective architecture, initiating coverage with a buy rating and a HK$1,118...
Africa's Water and Sanitation Access Gap Is Constraining Economic Growth
Limited access to water and sanitation continues to hamper Africa’s development, with one‑third of the population lacking basic drinking water and two‑thirds without proper sanitation. The African Union estimates the WASH shortfall costs the region about 4.3 % of GDP each...
First Trust Lists 11 Additional ETFs on SIX Swiss Exchange
First Trust announced the listing of eleven additional UCITS ETFs on the SIX Swiss Exchange, effective 19 February 2026, raising its total offerings on the venue to 27 funds. The new products cover themes such as artificial intelligence, clean water,...
Takeovers and Venue Shifts Hollow Out UK Market
Not much News again. All these Takeovers and changes of Listing Venue have really hollowed out the UK market.
Walmart’s Ad Business Grew 46% in 2025, Hitting Nearly $6.4B
Walmart’s advertising arm surged 46% in 2025, generating nearly $6.4 billion, while the broader company posted $713.2 billion in revenue. Walmart Connect alone grew 41% in Q4, and the Vizio acquisition added high‑minimum‑price inventory. AI chatbot Sparky, now tested with ads, drives...
Bloomberg Indices Expands Futures-Based Index Offering
Bloomberg announced the Bloomberg Eris SOFR Swap Futures Tracker Indices, a suite of 11 new rules‑based indices that track the performance of Eris SOFR swap futures across the U.S. dollar interest‑rate curve. The indices span tenors from one‑year to 30‑year...
Former US Presidential Candidate Has an Alarming Prediction for Your Job — Salaries Are About to Go Down
Former presidential candidate Andrew Yang warned that artificial intelligence will sharply reduce salaries across the workforce, affecting both white‑collar and service‑sector jobs. In a Substack post he cited examples from dry cleaning to coding, predicting millions of layoffs within 12‑18...
CNA's Dividend Rise
#CNA hit by Gas Price but raised Dividend. Positive long-term statements. I hold a tiny amount I inherited and not particularly interested in holding it.
Russia’s BRICS Sherpa Debunked Speculation About It Turning Into A Security Bloc
Russia’s deputy foreign minister and BRICS Sherpa Sergey Ryabkov publicly refuted claims that the bloc is evolving into a security or collective‑defence organization. He clarified that recent naval exercises off South Africa were conducted by individual member states, not a...
A Public-Private Partnership: Central Banks as a Funding Backstop
The authors analyze the Bank of England’s 2012 Funding for Lending Scheme (FLS) and find that central‑bank liquidity acts as a backstop that improves private wholesale funding conditions rather than merely substituting for them. By lowering banks’ wholesale funding costs,...
Stock Market Today: Dow Slips; Oil Prices Hit Highest Since Summer
The Dow Jones slipped Thursday as investors weighed fresh earnings reports and a sharp rally in oil prices. Brent crude surged up to $72 a barrel, its highest level since the summer, driven by heightened geopolitical tension surrounding U.S. naval...
Kumba Upbeat on Iron Ore Contract Talks with China
Kumba Iron Ore says it will wrap up contract negotiations with Chinese steelmakers this year, despite the ongoing dispute between China Minerals Resources Group and major miners. China now represents 56% of Kumba’s 2025 export sales, up from 54% in...
Nordea’s Active Rates Strategy Tops €1 Billion
Nordea’s Active Rates Opportunities Fund has broken the €1 billion AUM threshold, underscoring strong investor appetite for low‑risk, active‑duration fixed‑income solutions. Since its 2019 launch, the fund has delivered more than 2 % per annum in net returns above cash, even as...
Quant Hedge Fund Alpha Closes After 25 Years
A $2 billion quantitative hedge fund that recently added “Alpha” to its name, is calling it quits after three consecutive years of losses and roughly 25-year run https://t.co/69PJrwEni7
Denis Beau: The Regulatory Framework for Securitisation
Denis Beau, representing Banque de France and ACPR, highlighted the strategic role of asset‑backed securities (ABS) in the euro‑area monetary‑policy framework, noting they account for roughly 30% of collateral despite representing less than 5% of eligible securities. He stressed that...
Swaminathan J: Values in Action - the Making of a Strong Institution
Axis Bank honored 100 employees as "Champions" for embodying five core values—customer centricity, ethics, teamwork, transparency, and ownership—highlighting culture as a strategic asset. The speech stressed that success hinges on how results are achieved, not just the results themselves. By...
Three Multinationals Generate Half of Ireland's 2024 Tax Revenue
Ireland’s corporation tax receipts have become increasingly concentrated with just three multinational companies accounting for almost half of all of the revenue stream in 2024, watchdog warns https://t.co/of9w2dPPpV via @livfletcher_ https://t.co/iNNIyP8iwQ