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Paramount Global (NASDAQ: PARA) and Warner Bros. Discovery (NASDAQ: WBD) prepare $49bn debt sale to finance merger

Paramount Global (NASDAQ: PARA) and Warner Bros. Discovery (NASDAQ: WBD) are poised to execute the media industry’s most ambitious financing package in years. The $49bn debt sale—being arranged by JPMorgan (NYSE: JPM) and Morgan Stanley (NYSE: MS)—will anchor the $111bn merger, transforming two legacy …

Nitish Kishor | 21 May 2026

Japan's exports surge in April stuns economists

Japan’s trade position has been a persistent weak spot, weighed down by high energy import bills and sluggish global demand. Yet April’s data offered a starkReversal: exports surged 14.8% year-on-year to ¥10.5trn (about $65bn), the fastest pace since January—according to data released by Japan’s …

Nitish Kishor | 21 May 2026

India's Investment Appeal Dims

The United States has become the primary beneficiary of global capital inflows, driven by two interconnected forces: the artificial-intelligence boom and reshoring initiatives under the Biden administration’s industrial policy. The CHIPS Act alone has mobilised over $200bn in private and public investments, while tech …

Nitish Kishor | 21 May 2026

Putin’s Beijing Trip Deepens China-Russia Ties

Vladimir Putin’s state visit to Beijing in May 2026 was less about surprise than reaffirmation—an unmissable signal to Washington that the China-Russia axis remains a geopolitical constant. The ceremonial handshakes in Tiananmen Square, the carefully choreographed strolls, and the public displays of camaraderie were …

Nitish Kishor | 21 May 2026

UAE’s oil pipeline bypasses Strait of Hormuz, reshaping global energy flows

The United Arab Emirates (UAE) has just handed Iran a geopolitical setback. On July 15th, the UAE began transportingCrude Oilthrough a 3.6m barrels-per-day pipeline—dubbed the “East-West Pipeline”—that bypasses the Strait of Hormuz entirely. The $3.3bn project, completed months ahead of schedule, underscores the UAE’s …

Nitish Kishor | 21 May 2026

Iran reviews U.S. peace proposal as regional tensions simmer

The proposal arrives as the regional conflict—stretching from Gaza to Yemen, and now drawing in Lebanese Hezbollah and Iraqi militias—has entered its 22nd month. Iran’s review window, described by diplomats as “technical and exhaustive,” reflects the stakes: a framework that could stabilise oil flows …

Nitish Kishor | 21 May 2026

Eli Lilly’s $202m bet on non-viral genetic delivery

Eli Lilly (NYSE: LLY) has staked $202m—reported by Dealroom—to acquire Engage Bio, a preclinical non-viral DNA delivery platform developer, signalling a deliberate pivot into genetic medicines beyond its core diabetesFranchise. The acquisition marries Engage’s proprietary technology with Lilly’s expanding pipeline of genetic therapies, a …

Nitish Kishor | 21 May 2026

Japan’s Megabanks Post Record Profits—But What Lies Ahead?

Japan’s megabanks are reaping the rewards of a rare macroeconomic shift: the end of decades-long deflation. As consumer prices stabilised and corporate confidence rose, firms expanded operations, fuelled mergers, and tapped banks for financing. Mitsubishi UFJ Financial Group (TSE: 8306) and peers benefited from …

Nitish Kishor | 21 May 2026

The AI Recession for Generation Z

US technology companies have eliminated over 113,000 jobs in the first five months of 2026, a pace of roughly 825 per day. Most cite artificial intelligence. A London-listed bank recently supplied the most direct language for what that actually means. In May 2026, Standard …

Nitish Kishor | 21 May 2026

US Sector Performance Analysis: The Stagflation Unwind and the Violent Growth Squeeze

The USEquitymarket session on May 20, 2026, delivered a textbook example of extreme, zero-sum rotational whiplash. The empirical data points to a complete inversion of the prior 48 hours. Institutional desks aggressively unwound the highly concentrated "Energy + Defensives" stagflation barbell, utilizing that extractedLiquidityto …

Robert Luong | 20 May 2026
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