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English analysis

Page 9 of 21. English editions of sourced l0g investigations, newest first.Back to the latest →

17 min readSCPISCPI funds: who bears the losses?SCPI funds, life insurance and banks: Capimmo, surrender rules and what €558 billion of commercial property exposure can tell us about risk.16 min readSCPIFrench SCPI funds: when debt sets the timetableHow French SCPI property sales fund debt repayments: Primopierre, LF Grand Paris Patrimoine, leverage limits and the impact on rental income.14 min readSCPIFrench office SCPI funds: the cost of empty spaceVacancy, rent-free periods and refurbishment shape SCPI income. An investigation of French office funds, with documented cases and a lease workshop.15 min readSCPISCPI: the income behind the yieldPrimopierre and Élysées Pierre explain SCPI yields, falling dividends, distributed capital gains and retained earnings, using 2025 accounts and 2026 reports.14 min readSCPIFrench SCPI funds: the price of getting outFrench SCPI resale prices, fees and trading volumes. Four documented cases explain discounts and what investors can expect when seeking to sell.13 min readSCPIFrench SCPI funds: what lies behind the fall in exit queuesThe value of pending SCPI units fell 31%. Register resets, repricing and Primopierre’s trades explain the limits of this liquidity indicator.14 min readtungstenTungsten: the cash cost of securing industrial suppliesTungsten lifts Kennametal’s margins while increasing its funding needs. Following inventory, supplier advances and credit through the accounts.12 min readsulfurThe Gulf sulfur squeeze reaches fertilizers and nickelMosaic cuts phosphate output, HPAL nickel needs reagents, and Kamoa-Kakula sells acid. Following the sulfur squeeze through plants and accounts.13 min readUnited StatesTariff refunds: who gets to keep the money?Walmart, Dollar Tree and FedEx are receiving tariff refunds. Their accounts and consumer lawsuits show how the money may reach the original buyers.9 min readUnited StatesTrump promises $5,000: who would cover the cost?Trump promises $5,000 per adult. A sourced look at the estimated cost, tariff revenue, debt and congressional authority behind the proposed payment.13 min readcopperThe carrying cost of America’s copper stockpileUS copper inventories tie up capital amid tariff uncertainty. COMEX stocks, warehouse charges and a clearly hypothetical financing calculation.17 min readGhanaGhana’s gold-to-dollar trade and its public costGhana’s gold trade brings in dollars. IMF studies and public accounts reveal the costs, grants and funding risks behind GoldBod’s foreign exchange revenues.15 min readPublic financeFrance’s €211bn business-aid figure distorts the budget debateLoans, guarantees and tax relief do not measure the same public cost. Why France’s €211bn headline cannot fund an election manifesto.17 min readUnited StatesBessent’s yen bet and the machinery behind US debtBehind Bessent’s casino metaphor lie distinct funding mechanisms. FIMA and Treasury buybacks may ease selling pressure without removing financing risk.18 min readBrazilBrazil’s forest fund and the risk behind its $125bn ambitionThe TFFF plans to fund conservation from bond-portfolio income. Its charter makes forest payments conditional on available resources.16 min readOpenAIOpenAI’s credit rating could end Nvidia’s guaranteeA redacted rating threshold could end Nvidia’s OpenAI guarantee. How IPO proceeds, payment commitments and creditor protections change the credit analysis.15 min readSenegalSenegal’s unpaid bills turn suppliers into state lendersSenegal’s government arrears strain suppliers’ cash flow. A review of the reported stock, 2025 settlements and the proposed repayment options.17 min readCommoditiesCan a credit squeeze disrupt oil supplies?Margin calls, bank credit and inventories: how a cash squeeze can disrupt oil deliveries, and how lenders and replacement traders can keep supplies moving.16 min readCommoditiesTrafigura and Petrobras: how bribery entered the oil tradeTrafigura pleaded guilty in the United States over bribery tied to Petrobras. Follow the payments, penalties and controls from contract to settlement.15 min readCommoditiesTrafigura’s nickel fraud and the limits of paper collateralThe Trafigura–Gupta case exposes a mismatch between cargo and credit. An investigation into Citi’s exit, documentary checks and the limits of recovery.