Analysis

Following the release of Puig’s quarterly results last week, all major beauty groups have now released their financial performance for the October–December period. As the year closes, we can take stock of the winners and losers of 2025. L’Oréal and Puig emerged as the clear winners of 2025, delivering the strongest performance among the major […]

Nicolas Bourdon, Partner, Accuracy Zaheer Minhas, Partner, Accuracy Christy Howard, Partner, Accuracy Joris Timmers, Partner, Accuracy Julie Malzac, Director, Accuracy Thierry de Séverac, Advisor, Accuracy Download PDF >

Nicolas Bourdon, Partner, Accuracy Zaheer Minhas, Partner, Accuracy Christy Howard, Partner, Accuracy Joris Timmers, Partner, Accuracy Julie Malzac, Director, Accuracy Thierry de Séverac, Advisor, Accuracy Download PDF >

People: How passenger behaviour is redefining airports The Future of Airports: Airports need people, but do people need airports? The aviation industry’s recovery within five to six years of the COVID-19 pandemic demonstrates remarkable resilience. Yet as passenger numbers return to pre-pandemic levels, the sector faces a more fundamental challenge than any single crisis: a […]

This question seemed almost trivial before the pandemic, as forecasts were euphoric, driven by increased global trade and the development of Asian tourism, but still (too) little concerned with environmental issues. The 2020 Covid crisis temporarily put a sharp brake on airport activity, before seeing their health quickly recover and returning to levels of traffic, […]

Key takeaways: The EU’s Foreign Subsidies Regulation (FSR) has quietly created a second, economically complex review track for large cross-border M&A. The first two in-depth cases under FSR, e&/PPF and ADNOC/Covestro, now set the practical and strategic contours of this new regime. Their outcomes reveal how the Commission interprets “distortive” state support and what it […]

How has AI already reshaped the business models of companies today, and what are the strategies they should implement to adapt to this transformation? Artificial intelligence is profoundly transforming corporate business models. It does more than simply enhance the efficiency of existing processes. It is reshaping how value is created, captured, and monetized. Here are […]

Major beauty groups are showing clear signs of recovery. Estée Lauder has returned to growth after four consecutive quarters of decline, while Shiseido has also reported positive results following four negative quarters out of the last five. L’Oréal and Puig continue to outperform, maintaining their leadership in growth among major players. Coty remains under pressure; […]

What is a car? The usual definition is as follows: a light, motorised land vehicle, generally with four wheels, designed for the individual transport of people and luggage. The need for such means is enduring, but the way it is met – and therefore the product itself – can change. The economist would add that […]

The text below is a summary of the article published in the Polytechnique Insights newsletter on 14 May 2025, by Anaïs Marechal, Anne de Bortoli, Associate Professor at the Université du Québec à Montréal and Associate Researcher at the École des Ponts ParisTech (IP Paris), and Jean-Philippe Hermine, Director General of the Institut mobilités en […]

Beyond the technological challenge they represent, ‘autonomous cars’ confront us with an unprecedented moral issue. For autonomy, in the strongest sense, belongs only to human beings, capable of setting their own rules for action. A machine, no matter how sophisticated, simply executes what has been encoded in it. The question of the illusory responsibility of […]

In France, over 20 million people live in areas with limited access to public transport. The young start-up Ecov has set itself an ambitious mission: to transform the private car into a form of everyday shared transport. Founded in 2014 by Thomas Matagne, Ecov designs and operates carpooling lines on behalf of local authorities. These […]