Business

AI Anxiety Sparks Major Sell-Off in Global Software Stocks

Published

5 hours ago

February 14, 2026

The software sector is facing its steepest market decline since the 2008 financial crisis, driven not by a banking collapse but by fears over artificial intelligence. “AI anxiety is reshaping the software sector’s landscape. What started as a US sell-off has become a reckoning for Europe’s tech giants,” analysts said.

In the United States, the sector fell 14.5% in January, marking its worst monthly performance since October 2008. The decline accelerated in early February, dropping another 10% in less than two weeks. Investor concerns have centered on the possibility that AI tools could not only enhance existing software products but also erode subscription-based business models that have supported growth for over a decade.

High-profile companies have experienced dramatic reversals. Unity Software, Rapid7, and Braze have each lost more than half their market value since the start of the year. Even major players such as Palantir, Salesforce, Intuit, and ServiceNow have fallen around 30% year-to-date. The sell-off was intensified by Anthropic’s January launch of new enterprise plugins for its Claude AI assistant, prompting investors to question whether traditional software platforms remain essential.

The tremors in the U.S. have spread to Europe, where the software sector, valued at roughly €300 billion, is concentrated among a few key companies. Germany’s SAP, the region’s largest software firm with a market capitalisation of about €200 billion, has dropped roughly 20% year-to-date and 40% since its February 2025 peak. The company is heading for its ninth straight month of decline, a streak unseen in over three decades.

France’s Dassault Systèmes, a leader in 3D design software, has fallen 25% since January, approaching its fifth consecutive month of losses, the longest since 2016. British software provider Sage Group has also dropped about 25% year-to-date, including a 17% slide in February, marking its weakest monthly performance since 2002. RELX, a UK information and analytics company, fell 17% in a single session earlier this month, its steepest daily decline since 1988.

Mid-sized European firms have faced even sharper declines. Sidetrade, a French AI-based order-to-cash platform, has lost nearly 50% of its value this year. Sweden’s Lime Technologies, Denmark’s cBrain, and Norway’s LINK Mobility Group are down between 32% and 38%, reflecting the sector’s sensitivity to investor sentiment.

Experts are divided on the outlook. Nvidia CEO Jensen Huang dismissed fears that AI will replace software entirely, calling it “the most illogical thing in the world,” and suggesting AI will enhance existing systems. Wedbush Securities and JP Morgan strategists have argued that the market is pricing in worst-case disruption scenarios unlikely to materialise soon.

Yet Goldman Sachs strategist Ben Snider warned of “long-term downside risk,” comparing the sector to industries that underestimated structural change, such as newspapers and tobacco. Veteran investor Ed Yardeni described the shift from “AI-phoria to AI-phobia,” suggesting valuations may now reflect potential slowdowns rather than immediate collapse.

The software sector is not disappearing, but AI is forcing investors to rethink how value is created. Companies that adapt effectively may emerge stronger, while others could see margins and pricing power challenged. The industry’s competitive landscape is likely to look very different in the years ahead.

Business

Top income tax rates vary sharply across Europe, with Denmark highest at 60.5%

Published

1 day ago

February 13, 2026

Web Reporter

Top personal income tax rates across Europe show wide differences, with high earners facing significantly heavier tax burdens in Northwestern countries compared with Eastern Europe, according to new data from the Tax Foundation.

The report found that the highest marginal income tax rate ranges from just 10% in countries such as Bulgaria and Romania to 60.5% in Denmark as of 2026. This reflects major regional differences in how governments structure tax systems and distribute fiscal responsibility among citizens.

Denmark now has the highest top rate after introducing a new tax bracket for annual income above €375,000, raising its maximum rate from 55.6% to 60.5%. Several other Western European countries also impose top rates exceeding 50%, including France, Austria, Spain, Belgium, Portugal, and Sweden. In these nations, progressive tax systems are designed so that individuals with higher incomes contribute a larger share of their earnings.

Across 35 European countries, the average top personal income tax rate stands at 38.5%. Among members of the Organisation for Economic Co-operation and Development in Europe, the average rises to 43.4%. In total, 18 countries now impose top rates above 40%.

Among Europe’s five largest economies, tax burdens vary widely. The highest rate reaches 55.4% in France, while the United Kingdom has a top rate of 45%. Other major economies such as Germany and Italy fall between these levels.

By contrast, several Eastern and Central European countries maintain lower rates, often below 25%. These include Estonia, Hungary, Moldova, Georgia, Ukraine, and Czechia. Estonia recently raised its flat income tax rate from 22% to 24%, while Slovakia increased its top rate to 35% after introducing new tax brackets.

Tax policy adjustments reflect shifting economic priorities. Finland reduced its top rate from 51.5% to 45%, while other countries have made changes to increase government revenue or adjust economic incentives.

Alex Mengden, a global policy analyst at the Tax Foundation, said marginal tax rates play a key role in government revenue strategies. He noted that higher tax brackets affect incentives for individuals in those income groups while also influencing revenue collected from higher earners.

Public perception of tax fairness remains mixed. According to a study by the European Commission through its Eurobarometer survey, only one in five people in the European Union believe taxes are paid in proportion to income and wealth to a large extent. About half said taxes reflect income levels to some degree, while others remain skeptical about fairness.

The findings highlight a continuing divide in Europe’s tax landscape, with Nordic and Western countries maintaining higher rates and Eastern economies favoring lower taxation as part of their economic strategy.

Business

Alphabet Plans Rare 100-Year Bond as Investor Demand Surges Amid AI Spending Push

Published

4 days ago

February 10, 2026

Web Reporter

“Google’s parent company Alphabet is offering a rare 100-year bond in sterling markets after its original $20bn (€16.8bn) US dollar bond sale was massively oversubscribed. This makes it the first tech company to sell a century bond since Motorola in 1997.”

Alphabet is moving ahead with plans to issue a highly unusual 100-year bond in the sterling market, following overwhelming investor interest in its recent US dollar bond sale. The technology giant intends to raise about £1 billion (€1.15 billion) through the century bond, marking a notable return of ultra-long corporate debt in the technology sector.

Reports indicate the sterling offering has already attracted orders approaching ten times the amount Alphabet plans to raise. The move follows a major bond sale earlier this week in which Alphabet raised $20 billion (€16.8 billion) in US dollar-denominated debt. The original target of $15 billion (€12.6 billion) was increased after investor demand exceeded $100 billion (€84 billion).

The company is preparing to issue debt across several currencies as it seeks to broaden its funding sources. Alongside the sterling century bond, Alphabet is reportedly exploring a bond sale in Swiss francs. The planned offering would mark the first time a technology company has issued a 100-year bond in nearly three decades. Motorola last sold a century bond in 1997.

Alphabet’s US dollar debt package was divided into seven segments, with the longest maturity extending to 40 years and scheduled to mature in 2066. Pricing for the bonds is expected to be slightly tighter than initially projected, reflecting strong investor interest. The greatest demand was recorded for shorter-term bonds, with three-year securities priced at only 0.27 percent above US Treasury yields.

The bond sales are being managed by JPMorgan, Goldman Sachs and Bank of America, which are coordinating the company’s multi-currency fundraising effort.

Industry analysts say issuing debt in multiple currencies allows Alphabet to reach a broader pool of investors while managing borrowing costs. Sterling markets currently offer relatively lower interest rates compared with US dollar markets, which could help make the century bond more attractive and cost-efficient for the company.

Alphabet’s borrowing activity comes as technology companies increase spending on artificial intelligence infrastructure. The company recently announced plans to invest more than $185 billion (€155 billion) in capital expenditure tied largely to artificial intelligence development and expansion of cloud computing services.

To support this spending, Alphabet’s long-term debt has grown sharply, reaching $46.5 billion (€39 billion) in 2025. Despite this increase, the company maintains strong liquidity, holding more than $125 billion in cash reserves.

Other major technology firms have also raised large amounts of debt to finance AI investments. Oracle recently secured $25 billion (€21 billion) in a bond sale that attracted record investor demand. Financial analysts estimate technology hyperscalers could borrow around $400 billion (€335.7 billion) in 2026, more than double the total borrowed in 2025. The increase could push overall issuance of high-grade US corporate bonds to record levels this year.

Business

Consortium Agrees to All-Cash Deal to Acquire Polish Parcel Company InPost

Published

5 days ago

February 9, 2026

Web Reporter

A consortium of investors has reached an agreement to acquire all shares of Polish-founded parcel locker company InPost, betting on the growth of self-service delivery across Europe. The deal is structured as an all-cash public offer valued at €15.6 per share.

The consortium includes funds managed or advised by Advent International, FCWB LLC—a wholly owned subsidiary of FedEx Corporation—A&R Investments Ltd., and PPF Group, together with InPost itself. The agreement is conditional and recommended by the InPost board.

InPost is best known for its proprietary Paczkomat parcel machines, widely used across Poland. These white self-service lockers, often located in subway stations or local shops, allow customers to send and receive small and medium parcels independently, bypassing traditional courier methods.

“Together, we will strengthen our network and reach more consumers with enhanced fast and flexible delivery options as we continue our objective of redefining the European e-commerce sector,” said Rafał Brzoska, CEO and founder of InPost. Brzoska confirmed he will remain as chief executive, and the company’s headquarters, management team, and key innovation operations will continue to be based in Poland.

“Importantly, I remain fully committed to leading the InPost Group. Our headquarters, management team and key innovation capabilities will remain in Poland, which will continue to be the centre for implementing the group’s successful strategy,” Brzoska added.

InPost has been expanding its footprint internationally. In the UK, the company acquired a 95.5% stake in competitor Yodel last year. It also operates in Italy, France, Belgium, the Netherlands, Luxembourg, Spain, and Portugal, managing parcel deliveries for online vendors across multiple European markets.

Following the completion of the transaction, FedEx will become a shareholder in InPost, joining the other investors to guide the company’s growth strategy. Prior to the deal, InPost was owned by PPF Group, A&R Investments—funds controlled by Brzoska—and Advent International, with just over half of the shares held by other investors.

Analysts say the acquisition reflects the rising demand for self-service parcel solutions, particularly in Europe’s growing e-commerce sector. The all-cash nature of the deal underscores confidence in InPost’s operational model and its ability to scale across multiple countries.

InPost has built a reputation for innovation in last-mile delivery, offering convenient alternatives to home delivery and enabling retailers to meet the increasing expectations of online shoppers. The company’s continued expansion and strong market position in Poland and abroad make it a strategic target for investors seeking to capitalize on the shift toward automated parcel services.

With Brzoska remaining at the helm and the company’s operational base secure in Poland, InPost looks set to maintain its leadership in self-service delivery while leveraging the backing of global investors to expand further across Europe.