The journal
Notes from the watch
A short entry most mornings: what moved and what the day's reporting said about it. Descriptive, sourced, and held to written checks that decide whether an entry publishes at all. Never a recommendation. The editorial rules →
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A bumper dividend, and rate rises back on the table
Water dividends, an Iran-driven rate warning, easing oil, and a run of corporate news across the weekend's papers.
Tariffs land, oil retreats, and tech investors count the cost of AI
Trump's forced-labour tariffs, Brent's slide back below $100 and an AI spending scare shaped Friday's trading.
Oil past $100 keeps rates on hold as the AI trade wobbles
Oil above $100 froze central banks, tech spending rattled markets, and Trump widened tariffs.
London's deal-making tally climbs as Wall Street waits on the Fed
Rising yields ahead of the Fed, a chip rally, and another wave of London buyouts.
Beijing buys, the Fed steadies, and London counts its warnings
China's markets draw official support and a broker upgrade; London counts profit warnings tied to the Iran conflict.
Chips slide as the market waits for Big Tech to justify itself
The chip slump deepens, Apple retakes Wall Street's crown, and water investors register their displeasure.
Chips lead Wall Street lower as the IMF cautions Threadneedle Street
Chip stocks fell again, Netflix slid on guidance, and the IMF urged the Bank of England to hold.
Chips wobble as TSMC breaks records, and Britain's bargain hunt widens
Semiconductors led Wall Street lower even as TSMC reported record profit, while UK takeover activity and an IMF rate warning framed the London session.
A first dent for SpaceX, and warnings for UK investors
SpaceX falls below its IPO price as US bidders eye UK plc and oil jitters return.
Cooler prices, hotter banks, and a nervous glance eastward
US inflation cooled and bank profits surged, while oil, IBM and China's slowdown supplied the caveats.
A morning of bidders, both welcome and unwelcome
Bid activity crowds the London tape as oil rises on Iran-US strain.
The machine's ledger, and everyone else's
AI's costs and disputes dominate, while Britain counts the fiscal reckoning.