Meta, Microsoft and the tyranny of small differences
Plus, Jay Powell and dollar hedging
Plus, Jay Powell and dollar hedging

Five big tech titans make up over 40% of the capital expenditure of the S&P 500

We are living in a ‘barbell’ world where international threat meets technological opportunity

Broader, integrated software platforms for business will win out against those selling specific services

There’s a lot of enthusiasm over what is increasingly seen as the next big frontier in computing

Academics including France’s Thomas Piketty press MEPs to resist ‘shortsighted’ lobbying against the project

And more on the sentiment puzzle