Investor risk appetite has turned cautious. Filings for private securities products rose over 30% YoY in the first three quarters, but issuance showed signs of cooling late in Q3; filings for multi-asset strategy products grew faster. CTA (managed futures) strategies delivered relatively steady performance. Market participants say investors are prioritizing drawdown control and diversified allocation, and private fund managers will increasingly emphasize multi-strategy configurations to boost po

Microsoft has pulled out of a planned data‑centre partnership with UK cloud startup Nscale at Laindon, Essex, removing its role as the project’s intended anchor tenant. Microsoft gave no reason; the project has suffered repeated delays and local authorities have told Nscale grid power may not be available until the 2030s. Nscale’s Norway flagship is about six months behind schedule and running 6.4 MW of an expected 30 MW capacity. Nscale’s IPO filing shows roughly 85% of contracts depend on Microsoft and ANTHROPIC. The company is seeking up to $3 bln in an IPO that could proceed as soon as this month.

Japan's Chief Cabinet Secretary Kihara said he will not comment on individual cabinet approval polls.