Gasoline in California has topped $6 a gallon as the global energy crunch from the Iran war reverberates. The average statewide price for regular gasoline rose to $6.01, according to data from the American Automobile Association . That’s the highest since October 2023. No other state has ever surpassed the $6-a-gallon mark. At the outset of the war, the price in the Golden State was $4.64 a gallon...
Gasoline in California has topped $6 a gallon as the global energy crunch from the Iran war reverberates. The average statewide price for regular gasoline rose to $6.01, according to data from the American Automobile Association . That’s the highest since October 2023. No other state has ever surpassed the $6-a-gallon mark. At the outset of the war, the price in the Golden State was $4.64 a gallon. Skyrocketing pump prices are a major political risk for President Donald Trump ’s White House, especially ahead of the midterm elections. In addition, the gains stand to complicate policy decisions for the Federal Reserve , as officials seek to keep inflation in check while sustaining employment. Earlier in April, oil prices briefly cooled as investors weighed the odds for a ceasefire in Iran that could reopen the Strait of Hormuz — the vital waterway through which around a quarter of the world’s seaborne oil travels. Since then, they have rebounded, with Washington signaling that it will maintain its blockade, and US gasoline prices are now at their highest since the war began. West Texas Intermediate, the main US crude marker, rallied toward $111 a barrel on Thursday, while Brent, the global benchmark, topped $126. Trump has previously predicted fuel prices would come back down if the Strait of Hormuz were to reopen. Secretary of Energy Chris Wright said last week that he thought gasoline prices peaked in mid-April. Read More: Chevron Warns California Risks Fuel Crisis Unless Iran War Eases In California — the most populous US state — rising gasoline prices are also a problem for Governor Gavin Newsom, a Democrat widely expected to run for president in 2028. Local diesel has already hit a record above $7 a gallon. California’s product supply is more challenging than for most of the rest of the US. No pipelines carry fuels into the state from the Gulf Coast, and the state has also seen two refineries shuttered since October 2025, eliminating roughly 20% of its capacity. ...
Brookfield Asset Management Inc. is preparing to file draft papers as early as May for an initial public offering of Altius Telecom Infrastructure Trust that could raise as much as 60 billion rupees ($630 million), according to people familiar with the matter. The country’s largest telecommuncations tower operator is working with JM Financial Ltd. , Axis Bank Ltd. , Kotak Mahindra Capital Co. , Ci...
Brookfield Asset Management Inc. is preparing to file draft papers as early as May for an initial public offering of Altius Telecom Infrastructure Trust that could raise as much as 60 billion rupees ($630 million), according to people familiar with the matter. The country’s largest telecommuncations tower operator is working with JM Financial Ltd. , Axis Bank Ltd. , Kotak Mahindra Capital Co. , Citigroup Inc. , Jefferies Financial Group Inc. and Novaaone Capital Pvt. to submit its draft prospectus, the people said, asking not to be identified because the discussions are private. In addition, the company is considering a pre-IPO round to raise as much as 30 billion rupees, they said. Deliberations are ongoing and the details of the play may change, the people said. Representatives for Brookfield, Altius and the banks didn’t immediately respond to requests for comment. The offering could rank among India’s largest infrastructure investment trust listings in recent years. InvITs in India have delivered strong returns over the past year. The country has 27 registered InvITs, six of which — IRB InvIT Fund , India Grid Trust , Powergrid Infrastructure Investment Trust , Indus Infra Trust, Capital Infra Trust and Raajmarg Infra Investment Trust — are publicly listed. On average, these listed InvITs have generated total returns of about 17% over the past year, outperforming the benchmark Nifty 50 index, which declined 1.63% during the same period. For the latest news on equity capital markets activity in the Asia-Pacific region, follow the channel or visit NI BFWECMAS . To subscribe to ECM Watch , Bloomberg’s daily roundup of news from around the region, click here . Altius Invit was incorporated in 2019 by Reliance Industrial Investments and Holdings Ltd. , a wholly owned unit of Reliance Industries Ltd . The same year, Brookfield acquired stake in the trust that manages Reliance’s mobile-phone tower assets in a deal valued at about 252.2 billion rupees ($2.6 billion). Alt...
Jitu Munda says he was repeatedly refused access to money left in her account in case highlighting ‘lack of humanity’ in Indian bureaucracy The sight of a man bringing the remains of his dead sister to a bank in India after officials had refused to let him withdraw money without proof of her death has caused shock in India. Jitu Munda, 52, from the Indian state of Odisha, was captured on video car...
Jitu Munda says he was repeatedly refused access to money left in her account in case highlighting ‘lack of humanity’ in Indian bureaucracy The sight of a man bringing the remains of his dead sister to a bank in India after officials had refused to let him withdraw money without proof of her death has caused shock in India. Jitu Munda, 52, from the Indian state of Odisha, was captured on video carrying the remains of his recently deceased sister through the streets of Keonjhar and placing them outside the local bank. Continue reading...
tang90246 Qualcomm ( QCOM ) on Wednesday reported Q2 results largely in line with expectations, while its Q3 guidance missed estimates, but shares surged on optimism around new data center opportunities. Q2 non-GAAP EPS came in at $2.65, beating estimates; revenue declined 3.6% to $10.59B, roughly in line. The Q3 outlook of $9.2B to $10.0B revenue and $2.10 to $2.30 EPS trailed consensus . It was ...
tang90246 Qualcomm ( QCOM ) on Wednesday reported Q2 results largely in line with expectations, while its Q3 guidance missed estimates, but shares surged on optimism around new data center opportunities. Q2 non-GAAP EPS came in at $2.65, beating estimates; revenue declined 3.6% to $10.59B, roughly in line. The Q3 outlook of $9.2B to $10.0B revenue and $2.10 to $2.30 EPS trailed consensus . It was Qualcomm's expansion into data centers that turned investor attention as it said it secured a "leading hyperscaler" as a customer, shipping its custom chips from the December quarter. “We are excited by our entry into the data center,” said CEO Cristiano Amon, adding that multiple hyperscaler and AI-related opportunities are underway."Development of our leading data center CPU and high-performance AI inference accelerators is progressing well," CEO said in earnings call. Shares are up +11% in premarket trading on Thursday, putting investor focus on ETFs with significant exposure to the chipmaker, with the following 20 funds listing the stock among their top 15 holdings. First Trust Nasdaq Semiconductor ETF ( FTXL ) 6.48% allocation Direxion Daily QCOM Bull 2X ETF ( QCMU ) 5.99% allocation SoFi Agentic AI ETF ( AGIQ ) 5.11% allocation Invesco Next Gen Media and Gaming ETF ( GGME ) 4.85% allocation Fidelity Metaverse ETF ( FMET ) 4.50% allocation VanEck Fabless Semiconductor ETF ( SMHX ) 4.24% allocation Schwab US Dividend Equity ETF ( SCHD ) 4.21% allocation YieldMax U.S. Stocks Target Double Distribution ETF ( DDDD ) 4.19% allocation VistaShares Target 15 TEPRTantrum Contrarian Distribution ETF ( TPRY ) 4.08% allocation First Trust NASDAQ Technology Dividend Index Fund ( TDIV ) 3.94% allocation Vest Technology Dividend Target Income ETF ( TDVI ) 3.91% allocation ProShares Metaverse ETF ( VERS ) 3.90% allocation First Trust New Constructs Core Earnings Leaders ETF ( FTCE ) 3.86% allocation iShares Core Dividend ETF ( DIVB ) 3.83% allocation Matrix Advisors Value ETF ( MAVF )...
tang90246 Qualcomm ( QCOM ) on Wednesday reported Q2 results largely in line with expectations, while its Q3 guidance missed estimates, but shares surged on optimism around new data center opportunities. Q2 non-GAAP EPS came in at $2.65, beating estimates; revenue declined 3.6% to $10.59B, roughly in line. The Q3 outlook of $9.2B to $10.0B revenue and $2.10 to $2.30 EPS trailed consensus . It was ...
tang90246 Qualcomm ( QCOM ) on Wednesday reported Q2 results largely in line with expectations, while its Q3 guidance missed estimates, but shares surged on optimism around new data center opportunities. Q2 non-GAAP EPS came in at $2.65, beating estimates; revenue declined 3.6% to $10.59B, roughly in line. The Q3 outlook of $9.2B to $10.0B revenue and $2.10 to $2.30 EPS trailed consensus . It was Qualcomm's expansion into data centers that turned investor attention as it said it secured a "leading hyperscaler" as a customer, shipping its custom chips from the December quarter. “We are excited by our entry into the data center,” said CEO Cristiano Amon, adding that multiple hyperscaler and AI-related opportunities are underway."Development of our leading data center CPU and high-performance AI inference accelerators is progressing well," CEO said in earnings call. Shares are up +11% in premarket trading on Thursday, putting investor focus on ETFs with significant exposure to the chipmaker, with the following 20 funds listing the stock among their top 15 holdings. First Trust Nasdaq Semiconductor ETF ( FTXL ) 6.48% allocation Direxion Daily QCOM Bull 2X ETF ( QCMU ) 5.99% allocation SoFi Agentic AI ETF ( AGIQ ) 5.11% allocation Invesco Next Gen Media and Gaming ETF ( GGME ) 4.85% allocation Fidelity Metaverse ETF ( FMET ) 4.50% allocation VanEck Fabless Semiconductor ETF ( SMHX ) 4.24% allocation Schwab US Dividend Equity ETF ( SCHD ) 4.21% allocation YieldMax U.S. Stocks Target Double Distribution ETF ( DDDD ) 4.19% allocation VistaShares Target 15 TEPRTantrum Contrarian Distribution ETF ( TPRY ) 4.08% allocation First Trust NASDAQ Technology Dividend Index Fund ( TDIV ) 3.94% allocation Vest Technology Dividend Target Income ETF ( TDVI ) 3.91% allocation ProShares Metaverse ETF ( VERS ) 3.90% allocation First Trust New Constructs Core Earnings Leaders ETF ( FTCE ) 3.86% allocation iShares Core Dividend ETF ( DIVB ) 3.83% allocation Matrix Advisors Value ETF ( MAVF )...