Public Markets 8 Hours

Last updated: September 13, 2026, 6:35 AM ET

AI & Consulting

PwC is consolidating its US and Indian operations into a 40,000-person joint venture that will pool outsourcing and advisory work, a restructuring that reshapes India operations as the threat of artificial intelligence looms over the consulting sector. The move underscores how the Big Four are rethinking delivery models as automation erodes the billable-hours economics that long underpinned advisory growth.

Private Equity & Dealmaking

CVC Capital Partners is facing a shareholder revolt over its €10.7bn take-private of Italian pharmaceutical group Recordati, with investors accusing the private equity group of pressuring them into selling at a "lowball" price. Separately, industry executives are warning that buyout funds raised during the frenzied 2019 to 2021 boom will fall short on their return promises, a reckoning that could reshape fundraising for years to come.

Defence & Technology

Russia's new jet-powered Geran-5 drone is changing the air war in Ukraine, demonstrating that the Kremlin's military remains capable of innovation despite sanctions. In Germany, defence start-up ARX Robotics is courting carmakers to help re-arm Europe, seeking to "access industry muscle we already have" to meet soaring demand for unmanned military vehicles.

Venture Capital & Space

Low-profile venture capital firm Vy Capital has quietly assembled a SpaceX stake worth $40bn, emerging as one of the rocket maker's largest shareholders. The position cements the firm's role as one of Elon Musk's most consequential backers.

Sports & Revenue

Sunderland football club is targeting US post-industrial cities where its heritage resonates, part of a revenue push as tougher financial rules raise pressure on Premier League clubs to grow commercial income. In Japan, private equity is aiming to revive the country's golf tour, with NSSK founder Jun Tsusaka seeking to emulate the PGA model.

Technology & Society

A pilot programme has quietly added GP data to Palantir's NHS data platform, marking a significant expansion of the controversial software beyond its current hospital use. Meanwhile, US-listed Equinix is facing a challenge over its South African hyperscale data centre, with campaigners seeking to overturn approval as the AI infrastructure build-out intensifies scrutiny on power and water supplies. A counter-trend is also emerging: fountain pens, Warhammer and film cameras are staging a comeback as an anti-AI portfolio of analog hobbies gains traction.

Regulation & Governance

A federal judge ruled that the Department of Homeland Security's plan to cut FEMA staff in half is unlawful, finding it would hinder the agency's ability to respond to disasters. Former President Barack Obama, speaking at a private fund-raiser, urged Democrats to move A.I. oversight to the centre of their agenda, warning the technology could be "dangerous" if not managed urgently and with a clear plan.

Leadership & Talent

With boards preparing for a changed operating environment, four top headhunters have revealed what boards want in 2026 and the growing role of AI in executive search.