What would you do with a $1.2m prize if you earned it by spending thirty years on a question that began with pond algae? Three scientists found out on Monday. Karl Deisseroth of Stanford, Peter Hegemann of Humboldt University in Berlin and Georg Nagel of the University of Würzburg shared the 2026 Nobel Prize in
The Nobel Prize Is Really an Investment Fund Read More »
The most useful crypto product of the next few years will likely be offered to you by your local bank. Without a word, you will never learn its name. I say that because of two things that happened on the same day last month, 24 September, on opposite sides of the Atlantic. Two Remortgages and
Your Bank Balance Is Becoming a Token Read More »
At a charity auction, I once watched two perfectly sensible people bid against each other for a weekend in a cottage neither of them had seen. The winner paid enough to have bought the cottage a new kitchen. She looked thrilled for about a minute, and then visibly began doing the sums. I thought of
The Buyer Lost €15bn. The Seller Gained 33% Read More »
The price of almost everything you own is set by the small part that changes hands. That sounds like the kind of thing people say at dinner to seem interesting, so here is the evidence. Jio Platforms, the telecoms and digital arm of Mukesh Ambani’s Reliance Industries, is preparing for what would be India’s largest
India’s Biggest Listing Sells Just 3% of Itself Read More »
I have a confession. On 6 October last year, the day bitcoin set its record at about $126,000, I did not think, ” This is the top”. I thought the number looked rather reasonable. That is how tops work. They do not feel like the edge of anything. A year on, bitcoin is trading around
Bitcoin Is Down 32%. That Is the Good News. Read More »
What do you buy once a penthouse starts to feel ordinary? At the 35th Monaco Yacht Show, from 23 to 26 September in Port Hercule, the answer was a home that moves. Around 120 superyachts were on display, 43 of them world premieres, and the largest was Oceanco’s Leviathan, yet the project that drew the
Luxury Property Has Gone to Sea Read More »
Somewhere on Carnival’s balance sheet sits $7.6 billion belonging to holidays nobody has taken yet. That is the figure for customer deposits cruise companies published on 29 September, documenting this record for the third quarter and about $500 million more than a year ago. It is money handed over months in advance, for a cabin,
We Paid Carnival $7.6bn for Holidays Not Yet Taken Read More »
The photographs from Venice all look the same, in the best possible way: a gown, a flashbulb, a stretch of water somewhere behind it. Scroll past enough of them, and you could believe a film festival is a very long, very elegant party. It isn’t. It is a shop, and the red carpet is the
Film Festivals Are Really Trade Fairs Read More »
Why would the best tennis players in the world give up a weekend in a crowded season for a tournament that gives them no ranking points? The Laver Cup has been answering that question every September since 2017, and it answered it again at The O2 in London from 25 to 27 September. Team Europe
The Tournament Nobody Needed, Now Everyone Plays Read More »
The most revealing number in corporate bitcoin this autumn was not a price. It was a date. On Monday 28 September, the Bitcoin Treasuries Conference filled Midtown Manhattan with company treasurers, fund allocators and the people who advise them. The organisers said it was at capacity. Adam Back and Ric Edelman opened the day, and
When Companies Buy Bitcoin, Who Is Really Paying? Read More »
