World Bank cuts global growth forecast to 2.5% for 2026
The World Bank cut its 2026 global growth forecast to 2.5%, the weakest outlook since the pandemic began in 2019.
1 min read
Adam Schwartz
Adam Schwartz is a staff writer at P&L, covering markets, economic policy, and the financial system. He previously worked in credit research, analyzing corporate debt, rate cycles, and balance-sheet risk.
SpaceX plans public share sale at $1.75 trillion valuation
Bankers value SpaceX at $1.75 trillion in the planned share sale, putting it among the world’s 10 most valuable companies.
1 min read
U.S. consumer prices rise 4.2% in May as Iran conflict lifts energy costs
U.S. consumer prices rose at a 4.2% annual rate in May, the fastest pace in three years, as Iran-related energy disruptions lifted costs.
2 min read
NY Fed survey shows 43.7% of households feel worse off than a year ago
43.7% of households said they were worse off financially than a year ago in the New York Fed survey.
1 min read
Factories, Restaurants and City Halls Add Workers as Hiring Widens
Employers added more than half a million jobs from March through May, a sharp shift from last year’s slowdown.
1 min read
Consumers see weaker finances and job prospects in NY Fed May survey
The share of households saying they are worse off financially rose to 43.7%, the highest since January 2023.
3 min read
TSMC Grows Gross Margin to 59.9% as Fabless Chip Designers Rely on Its Nodes
TSMC leverages its neutral foundry model to turn product design risks into a manufacturing annuity, yielding a 59.9% gross margin in 2025.
5 min read
Federal drug pricing policies force GLP-1 margin compression and volume dependency
Federal price caps limiting GLP-1 treatments to $350 monthly force pharmaceutical companies to trade premium margins for mass-market volume.
5 min read
GLP-1 mass market demand collides with specialty drug pricing
The transition of obesity into a pharmacologically treated chronic condition forces an immediate collision between mass-market demand and specialty-drug pricing.
7 min read
Novo Nordisk and Eli Lilly manufacturing bottlenecks constrain the GLP-1 market
Novo Nordisk and Eli Lilly control the GLP-1 market through a physical ceiling on sterile fill-finish capacity, forcing competitors out and driving billions into vertical integration.
8 min read
High obesity drug costs force payers to reallocate capital from traditional healthcare services
Physical limits in peptide synthesis and sterile fill-finish operations place a hard ceiling on near-term revenue growth for the prevailing pharmaceutical duopoly.
7 min read
Markets Are Still Mispricing Higher Capital Costs
The economy is still repricing the end of zero rates, as higher capital costs work through debt, valuations, and policy assumptions built for cheap money.
6 min read