Alphabet raises €22bn as Big Tech rushes private credit

Palantir's Q4 revenue hit $1.41 billion with a 127 percent 'rule of 40' score, combining revenue growth plus operating margin in what CEO Alex Karp called 'sublime' for a 20-year-old company. US commercial revenue grew over 130 percent, driven by the AI platform and 'boot camp' sales model that closes seven-figure deals in days rather than months. 2026 guidance calls for $7.2 billion revenue, implying 60 percent growth and crushing consensus. When enterprise AI spending shifts from proof-of-concept to production scale, Palantir's timing looks deliberate.

The rupee breached 95 per dollar intraday before recovering, marking its worst performance since the 2011 Eurozone crisis as Brent crude hit $107.53. India imports 85 percent of its oil, making it vulnerable when Middle East tensions drive energy prices up over 50 percent in a month. RBI Governor Sanjay Malhotra cut rates by 125 basis points since taking office in December, but foreign fund outflows now exceed $26 billion. Energy shocks expose which central banks prioritised growth over currency stability.

Walmart's CFO said tariff cost increases are 'more than any retailer can absorb', forcing price rises despite the company's everyday low prices positioning. Ford estimates $2 billion in annual tariff costs, while Abercrombie expects a $60 million Q4 hit from spring inventory. Trump's April 2 tariff announcement included 10 percent baseline rates plus reciprocal tariffs reaching 40 percent on some goods. Consumer prices already sit 19 percent above pre-pandemic levels, making this wave particularly painful for households already trading down to store brands.

VodafoneThree launched as a joint venture with Vodafone holding 51 percent and CK Hutchison retaining 49 percent, not the full acquisition some reports suggested. The £4.3 billion figure refers to Vodafone UK's contributed net debt, not a cash purchase price. The merged entity combines 29 million customers and commits £11 billion over 10 years for 5G standalone network buildout, targeting 99 percent population coverage by 2034. When telecoms consolidate, the debt contribution often gets confused with acquisition value.

Bernard Arnault is exploring sales of underperforming brands including Marc Jacobs, valued at $6.88 billion, and Fenty Beauty in LVMH's biggest portfolio pullback in decades. This marks a strategic reversal from buyer to seller for the luxury conglomerate that built 75 brands through aggressive acquisitions since the 1980s. Fashion and leather goods drive 49 percent of LVMH's €80.8 billion revenue, but luxury demand has entered what industry watchers call a prolonged winter. When acquisition-driven growth models reverse course, it signals fundamental demand shifts rather than cyclical weakness.

Iran delivered a 14-point proposal via Pakistan including US force withdrawal, sanctions lifting, and compensation payments, but Trump expressed skepticism about its acceptability. A senior Iranian military officer stated renewed US-Iran conflict is 'likely', citing American failure to honor commitments. Ceasefire prediction markets dropped to 0.1 percent probability for formal cessation by year-end. When both sides prepare for conflict while negotiating, the talks often serve as diplomatic cover for military positioning.

Trump announced a 5,000-soldier drawdown from Germany after Chancellor Friedrich Merz publicly said the US 'clearly has no strategy' on Iran and was being 'humiliated' at negotiations. The reduction targets America's largest European military base, with Trump hinting at cutting 'a lot further' while imposing 25 percent tariffs on EU vehicles. Merz called the spat 'exaggerated' and reaffirmed transatlantic ties, but cancelled a planned trip to Yerevan to manage fallout. Personal criticism of Trump's foreign policy carries measurable costs, even from key allies.

A former Deutsche Bank commodities trader is suing for £12 million, claiming the bank breached its duty of care despite his spoofing conviction. The trader argues his guilty verdict doesn't void the claim and has countered Deutsche Bank's attempt to block the lawsuit. CFTC records show the bank's surveillance detected hundreds of potential spoofing instances between 2008-2014 but failed adequate follow-up. When convicted traders sue their former employers for inadequate supervision, it raises questions about who bears responsibility for systematic misconduct.

Employees are staying put rather than quitting as CEOs scale back hiring plans amid recession fears.