Public Markets
Last updated: September 20, 2026, 2:00 PM ET
Volvo Cars CEO Shakeup
Volvo Cars is changing leadership as Håkan Samuelsson, who came out of retirement last year to retake the helm, prepares to hand over the reins. The Swedish automaker has named Klaus Zellmer as its next president and chief executive, with the board formally appointing the former Škoda boss to oversee a sweeping revamp. Zellmer's turnaround credentials are central to the hire: at Škoda he delivered profit margins that rival those of BMW, a performance Volvo's board hopes to replicate as it navigates softening EV demand and intensifying Chinese competition.
Treasury Supply and the Short-End
Wall Street is bracing for a deluge of roughly $1tn in short-term US debt issuance as borrowing costs climb, with growing reliance on Treasury bills drawing scrutiny from Scott Bessent, who is seeking to curb the rise in longer-dated yields. The shift toward bills keeps duration risk off the government's books but concentrates refinancing exposure at the front end of the curve, a structure that leaves the Treasury acutely sensitive to any sudden move in policy rates.
Bond Market Signals
Disentangling what the bond market is actually saying has become unusually difficult as yields surge amid economic uncertainty. The ambiguity is fundamental: did yields rise because the economy is strong, or because America's fiscal credibility is eroding? The two interpretations imply opposite portfolio positioning, and investors are being forced to choose without a clean signal.
Emerging Market Debt Rotation
Emerging-market investors are sticking with local-currency sovereign debt as dollar-denominated issuance lags, a preference that reflects both attractive real yields in local markets and caution about duration and FX risk embedded in hard-currency paper.
Yen Under Pressure
The yen is vulnerable to sharp moves and further declines over the coming week, with Japanese markets on holiday and the Bank of Japan having disappointed traders expecting a more hawkish signal. Thin holiday liquidity amplifies the risk of outsized swings.
Hong Kong's Dim Sum Ambitions
Hong Kong plans to expand the Dim Sum bond market and develop the yuan-denominated ecosystem further, according to Financial Secretary Paul Chan, part of a broader push to deepen the city's role as an offshore renminbi hub.
China's Trade Team
Beijing on Sunday elevated Li Chenggang to the role of top international trade negotiator, promoting a key member of its team handling talks with Washington as tariff tensions persist.
Saudi Arabia Exits MBridge
Saudi Arabia's central bank withdrew from MBridge last year, quitting the China-led cross-border currency platform in a signal of Riyadh's reluctance to fully align with Beijing's de-dollarization ambitions.
Qatar's Wealth Fund Overhaul
Qatar is building a local platform to manage and grow its sovereign wealth fund's domestic holdings, reshaping strategy in a way that could redirect capital toward the home economy.
Venezuela and Total Energies
Venezuela and Total Energies SE signed a memorandum of understanding on Saturday, paving the way for the French energy major's return to the country's oil sector.
Chevron's Exploration Push
Chevron is planning a drilling spree with a $15bn exploration budget surge, as Kevin McLachlan targets new discoveries and hopes to replicate the exploration turnaround he achieved at Total Energies.
Motor Oil Supply Shock
A US retailer is rationing motor oil as prices quadruple and supplies run dry, with the Iran war having created a global shortage of the lubricant used in vehicle engines.
Refineries as Chokepoint
Refineries have become the main chokepoint for global energy supplies, as the Iran and Ukraine wars expose the world's reliance on Middle Eastern and Russian processing capacity.
Hormuz Trade Collapse
The Gulf cargo trade has vanished amid the Strait of Hormuz crisis. The strait had been a transit hub for goods ranging from helium to corn, and businesses are now scrambling to reroute.
Biodiesel Milestone
Biodiesel for shipping is now cheaper than conventional fuels after a price fall, with supplies racing to hit emissions targets pushing the cost to a record low.
CATL and US Pickups
CATL has developed pick-up truck batteries for the US market despite trade barriers, comments that come ahead of President Xi Jinping's visit to Washington.
Volvo's Truck Technology Warning
Volvo's truckmaking chief warned Europe against betting solely on electric trucks, calling a single-technology strategy "super dangerous" and defending continued focus on hydrogen lorries at a time when battery-electric economics remain uneven.
Rivian's Manufacturing Vision
Rivian CEO RJ Scaringe has some ideas for making more cars in America, arguing it will take robots, tariffs and diplomacy to maintain a domestic manufacturing base.
Big Tech's Off-Balance-Sheet AI Exposure
Big Tech is using guarantees to keep roughly $300bn in AI exposure off its balance sheets, as Wall Street finds new ways to convert tech giants' credit strength into cheaper funding.
AI's Wobbly House of Cards
The heads of America's leading AI development labs have started a national conversation about the risks embedded in the AI boom, which Bloomberg reporting frames as a wobbly house of cards that puts both markets and the broader US economy at risk.
Who Writes AI's Moral Code
A small number of people are shaping what chatbots value, and those choices are already embedded in products used by hundreds of millions.
Giving Away AI Control
Letting AI patrol its own frontier is like asking Jesse James to patrol the Wells Fargo stagecoach, experts warn, as labs hand more training responsibility to AI systems themselves.
Trump's 'AI Force' Proposal
President Trump proposed a follow-up to his Space Force — an “AI Force” — while continuing to dismiss warnings about the technology. He has resisted calls for regulation and dismissed safety concerns as a hoax, though he said he would appoint a "tsar" to oversee the effort.
China's AI Advances
As Xi Jinping arrives in the United States this week for a state visit, China's AI sector is even as the broader economy lags behind — a contrast that shapes the negotiating posture on both sides.
Chinese Youth and AI Startups
Burned out and unemployed, young people in China are launching AI startups in growing numbers. Last year, more than seven million new one-person companies were established in the country.
Data Center Labor
Powering the country's massive AI build-out requires a lot of walking, checking and monitoring, according to workers inside one of America's data centers.
Prediction Markets Upstage Polls
Voters, donors and media increasingly use betting platforms Kalshi and Polymarket in place of traditional election polling, a shift with real implications for how political risk is priced.
Polymarket's Fraud Exposure
Polymarket's rush to grow left a door wide open for fraudsters, with CEO Shayne Coplan brushing off concerns about a scheme involving stolen debit cards ahead of a potential IPO.
Polymarket's Expansion Problems
The problems behind Polymarket's rapid expansion are drawing scrutiny alongside a separate investigation into Romanian crime rings draining US welfare accounts.
Crypto's Lost Moment
Crypto blew its big moment, and the blame game has begun. Coinbase CEO Brian Armstrong was at the center of a protracted fight over the rules that would have cemented the industry's legitimacy.
Jane Street and Leveraged ETFs
Jane Street Group has begun providing swaps to a swelling cohort of leveraged ETFs, joining a wave of dealers offering the structures that underpin the riskiest retail products.
Oaktree's Marks on the Fed
Howard Marks, co-chair of Oaktree Capital Management, said he prefers less communicative and less activist central banking, weighing in as the Fed chair succession debate intensifies.
Europe's Junk Property Debt
European real estate debt is starting to show strain from higher interest rates, reviving fears of the pain seen in 2023.
Australia's Housing Cool-Down
Australia's residential real estate market remained subdued with auction clearance rates falling to 54% amid rate hike fears.
Singapore Office Rents
An AI influx is putting pressure on Singapore office rents, with Anthropic and OpenAI taking more space in the city's already squeezed prime property market.
Blackstone's Marina Empire
Blackstone now owns more marinas than anyone in the world after a $5.6bn Safe Harbor deal, as private equity bets on the booming marina business fueled by wealthy boat buyers.
Tata Succession Battle
Noel Tata is fighting for his life to avert a listing of Tata Sons, up against the 150-year-old business empire's chair and his well-connected rivals. The parties fighting for control of India's Tata Group have retained top lawyers ahead of a looming legal battle.
Dangote IPO Test
The Dangote IPO is a test for African capitalism, a landmark flotation that could reshape how the continent invests in industry.
Banque Internationale à Luxembourg Sale
Chinese owners have launched a €2.5bn sale of Luxembourg's oldest bank, with initial bids for Legend Holdings' 90% stake in Banque Internationale à Luxembourg.
Jefferies and Glencore
Executives at Jefferies Financial Group were sounding increasingly irate during a months-long tussle with Glencore over Radiant payments.
US Audit Fee Fight
Accounting firms are fighting an SEC proposal to loosen post-Enron rules, a regulatory rollback that puts $400mn in US audit fees at risk.
Trump and the Press
President Trump banned three media outlets — CNN, MS NOW and Politico — from the White House, fitting a pattern of targeting the press after a series of losses. The prohibition on certain journalists was a major escalation in his long-running conflict with the media. News outlets expressed solidarity after the ban, with some Democrats calling it an attempt to control the press.
Kennedy Center Fallout
Internal emails and documents demonstrate the political capture of the Kennedy Center, which President Trump shut citing safety amid a renovation feud.
Trump's DC Arch Proposal
President Trump's announcement on Sunday echoed his justification for the White House ballroom, describing a 250-foot arch for Washington as a "military complex" that would house drones and snipers.
Greenland and the Trump Deal
President Trump's threats to seize Greenland left its people on edge, and Greenlanders describe themselves as nervous and skeptical about the new deal.
American Exceptionalism in Retreat
Liberal democracy is in worldwide retreat, including in its birthplace — the United States — raising the question of whether American exceptionalism has ended.
Vance and American Identity
JD Vance has a twisted idea of what it means to be American, according to a critique from a self-described "heritage American" weighing how that identity should guide a life.
Mullin's ICE Setback
Markwayne Mullin lost his pick to lead ICE as he struggles to prove his toughness on immigration and overcome hard-liners' doubts about his leadership.
New York House Race
Republicans are seizing on defense contractor ties in a New York House race, targeting Cait Conley, who is trying to flip a Republican seat held by Representative Mike Lawler.
Maine Senate Bid
Troy Jackson, a progressive brawler, landed in the race unexpectedly, and Democrats are hoping he can flip a Senate seat in Maine.
Sherrod Brown on Transgender Issues
A spot from the Senate candidate in Ohio seeks to dismiss the Republican Party's criticism on transgender issues, as Sherrod Brown tries a new retort.
India Between Tariffs and Russian Oil
India is trying to secure affordable energy while preserving a crucial relationship, squeezed between the threat of Trump tariffs and its need for Russian oil.
Houthis Escalate Against Saudi Arabia
The Iran-backed Houthi militia was engaged in fierce battles with Saudi-backed forces as tensions with Riyadh rise. The Houthis said they had fired a wave of missiles and drones at the Saudi capital in a significant escalation. The assault comes as the kingdom has been repeatedly targeted, with a fuel depot burning at the airport.
Russia's Election-Day Drone Barrage
Ukraine says it used a newly developed ballistic missile in attacks that saw hundreds of drones target Moscow on the final day of Russian elections.
Russia's Air Campaign on Ukraine's Economy
Drone and missile strikes hit warehouses, steel plants, ports and railways, in a campaign that seeks to destroy Ukraine's economy rather than only its military capacity.
Russia's Antiwar Voices
The liberal party Yabloko is fielding 98 candidates in this weekend's elections despite being barred, with antiwar voices still standing.
Total Energies and Mozambique
Total Energies faces fresh scrutiny over its response to a Mozambique attack, accused of failing to protect a British subcontractor killed during the assault.
Israel's Settler Economy and Sanctions
Penalties against businesses on occupied Palestinian land from the UK, France and other European states are forcing Israel's settler economy to brace for impact.
Meta Challenges UK Online Safety Act
Meta has launched a fresh legal challenge over the UK's Online Safety Act, with the US tech giant's latest action against regulator Ofcom potentially slowing implementation.
California Fines Influencers
Under a new law, creators could face fines of $5,000 per post if they don't disclose paid political content, as California cracks down on undisclosed political ads.
TikTok Stealth Ads
An army of social-media users has found a lucrative side hustle creating promotional content, with everyday Tik Tokers making $6,000 a month posting stealth ads.
Converse Pulls Ad
Converse removed an advertisement that drew comparisons to K.K.K. imagery after a backlash, saying "this should not have happened and we will do better."
Ed Sheeran on Gaza
Ed Sheeran began his Philadelphia show on Saturday night by addressing the war in Gaza after Macklemore was dropped from the tour.
Cinema's Premium Revival
Film-goers are attending less often but spending more, splashing out on plush seating and premium screens in a revival that is reshaping cinema economics.
Novo Nordisk Investor Pressure
Ozempic maker Novo Nordisk is under pressure to diversify as it prepares to face shareholders, with investors calling for dealmaking and new drugs to cut reliance on the blockbuster.
Robotaxis and Jobs
Taxi driving offers benefits that are not always obvious when you sit in the back seat, as robotaxis threaten to displace drivers.
India's Micro-Drama Boom
The popularity of short-form videos has created employment for many actors and technicians, as India gets hooked on "snackable" micro-dramas.
Ari Emanuel's Memoir
"Roll the Calls," the new book by Hollywood mogul Ari Emanuel, is an entertaining and exuberant read that reveals feuds and the mechanics of Hollywood power.
Layoffs Before Medicare
Older, laid-off workers will struggle to find health insurance that brings comprehensive coverage, with limited options for those over 50 who are too young for Medicare.
Pennsylvania Measles Outbreak
As the outbreak grows to more than 700 confirmed cases, the largest in the country, Pennsylvania is seeing an increase in vaccinations.
School Choice Decisions
One mother's approach to the decision of where her child should go to school illustrates the reality of school choice.
A Parent's Education Betrayal
A decade ago, the author made a decision about her daughter's education that she hoped would serve her, and now asks whether fighting for every Black child meant betraying her own.
Times Corrections
For most of its life, The New York Times has tried to correct its errors, and these are the mistakes it has made along the way.
Yom Kippur Observance
From 200-mile treks to synagogue to spiritual striving, readers share the rituals of how Jews across the US observe the holiest day of the year.
Xalapa's Melon Contest
In the eastern city of Xalapa, what started as a joke among friends over two decades ago has become a real contest drawing crowds to crown the most handsome melon in Mexico.
Japan Storm Disruption
The approaching tropical cyclone Dujuan could cause suspensions and delays on train services, with heavy rain disrupting trains in Japan.
Autonomous Landfill Machinery
Caterpillar's newest landfill machinery doesn't need a human in the operator's cab, marking the next frontier for autonomous vehicles: burying your garbage.
Private Equity
Last updated: September 20, 2026, 2:00 PM ET
Private Equity
Tech Crunch Disrupt 2026 ticket pricing ends Sept. 25 at 11:59 p.m. PT, with 10,000+ attendees expected and $200 in savings still available.
Sector Investment
Last updated: September 19, 2026, 6:08 AM ET
Healthcare
Concierge and functional medicine demand is surging, buoyed by the GLP-1 boom, as investors back precision-health models.