FAFO: Ken Griffen Fed Up With Leftist NYC Mayor Mamdani's Political Stunt Play foolish socialist games , and watch New York City crumble. That may be the lesson far-left NYC Mayor Zohran Mamdani is about to learn, as Citadel's Ken Griffin appears to be losing patience with the mayor's latest political stunt. Recall that, in a video posted last week by the NYC Mayor's Office, Mamdani unveiled the c...
FAFO: Ken Griffen Fed Up With Leftist NYC Mayor Mamdani's Political Stunt Play foolish socialist games , and watch New York City crumble. That may be the lesson far-left NYC Mayor Zohran Mamdani is about to learn, as Citadel's Ken Griffin appears to be losing patience with the mayor's latest political stunt. Recall that, in a video posted last week by the NYC Mayor's Office, Mamdani unveiled the city's first-ever pied-à-terre tax: an annual fee on luxury properties whose owners do not live in NYC full-time. The video was filmed outside 220 Central Park South, the building where Griffin owns a four-floor penthouse he purchased in 2019 for $238 million. Happy Tax Day, New York. We’re taxing the rich. pic.twitter.com/Wky2LFXC9W — Mayor Zohran Kwame Mamdani (@NYCMayor) April 15, 2026 The Wall Street Journal reported Thursday afternoon that an internal memo from Citadel's COO said its massive redevelopment of 350 Park Avenue, a $6 billion project that would produce 6,000 construction jobs and more than 15,000 permanent jobs, might be halted . "We are about to commence the redevelopment of 350 Park Avenue, creating 6,000 highly paid construction jobs and supporting the creation of more than 15,000 permanent jobs in mid-town New York," wrote Gerald Beeson. "The project -- if we move forward -- will entail more than $6 billion dollars of spending." Beeson sent the letter to employees of Citadel, Citadel Securities, and Griffin's other businesses. Let's not forget that Griffin relocated his company from crime-ridden Chicago to Miami. Beeson said the mayor's video suggested that the mayor doesn't appreciate how people like Griffin contribute to the greater good. " It is shameful that he used Ken's name as the example of those who supposedly aren't carrying their fair share of the burdens associated with New York City's often costly and wasteful spending," Beeson continued. "In doing so, the mayor has once again manifested the ignorance and disdain of the elite political class...
The Philippine central bank will likely deliver a series of modest increases in its benchmark interest rate to rein in inflation spurred by the global oil shock, according to Governor Eli Remolona . “We will do what’s necessary to contain inflation, and at the moment, that seems like a succession of modest rate hikes,” Remolona said in an interview with Bloomberg Television’s David Ingles and Yvon...
The Philippine central bank will likely deliver a series of modest increases in its benchmark interest rate to rein in inflation spurred by the global oil shock, according to Governor Eli Remolona . “We will do what’s necessary to contain inflation, and at the moment, that seems like a succession of modest rate hikes,” Remolona said in an interview with Bloomberg Television’s David Ingles and Yvonne Man on Friday. “We are being proactive. We are trying to stay ahead of the curve,” he added, speaking a day after the Bangko Sentral ng Pilipinas raised its key rate for the first time in more than two years. The size of the rate hike was a close vote, Remolona said, with policymakers also weighing a half-point increase before ultimately deciding on a smaller, quarter-point step. He reiterated that the BSP would keep watching the data and measuring inflation expectations to determine their next moves. Read More: Philippines Flags More Rate Hikes as War Upends Inflation Fight Remolona dismissed the notion that the peso’s exchange rate crossing 60 to the dollar represents a significant threshold for authorities. Instead, the BSP is monitoring the currency’s movements. “If it moves by 50 centavos in a day, that’s a bit large for us,” the governor said, adding that the BSP hasn’t been intervening so far in morning trading, but might be active later in the day. The peso fell as much as 0.5% or 32 centavos to 60.80 against the dollar on Friday. The central bank raised its inflation forecast for 2026 and 2027 as the surge in global oil prices starts to create spillover effects in the economy. Inflation expectations have risen, but are so far not unanchored, Remolona said. Despite kicking off a tightening cycle, the BSP was optimistic economic growth could accelerate to about 4.6% this year and as high as 6% next year. “Our potential is much higher than our forecast,” Remolona said. Remittances have been “surprisingly resilient” despite earlier concerns the Middle East conflict ...
Gannet77/E+ via Getty Images What The Market Did Not Like About Q1 It has been six months since I last covered Thermo Fisher Scientific ( TMO ) and downgraded the stock to a Hold rating. That looked too conservative for a little while as the stock climbed to a 4-year high above $640 in January but moved generally lower since Q4 results . At that time, the company projected 4-6% total sales growth ...
Gannet77/E+ via Getty Images What The Market Did Not Like About Q1 It has been six months since I last covered Thermo Fisher Scientific ( TMO ) and downgraded the stock to a Hold rating. That looked too conservative for a little while as the stock climbed to a 4-year high above $640 in January but moved generally lower since Q4 results . At that time, the company projected 4-6% total sales growth in 2026, but just 3-4% organic sales growth. This was likely disappointing relative to Thermo's medium-term organic growth targets, which are now being talked about as in the 5-6% range, " eventually " getting to "7% plus", a bit of a hedge from the 7-9% discussed at the 2024 Investor Day . After several flat years following the strong growth in 2020-2021 from COVID-19 testing and vaccine manufacturing demand, it appears the market is looking to get back to growth and punishing the stock when the growth is deferred. That likely factored into the over 18% drop since my last article and 28% drop since the January high. Seeking Alpha A big chunk of this drop came in one day following the Q1 2026 earnings release . The company already warned during the Q4 earnings call that Q1 sales growth would be "a couple points lower" than the full-year forecast. So, the greater than 10% intraday drop after the earnings release seems excessive. The headline numbers were not bad. Thermo reported sales of $11 billion and non-GAAP EPS of $5.44, both of which beat expectations . The guidance, which came out during the earnings call , was also positive. The company raised revenue guidance to $47.3 - $48.1 billion (6-8% growth over 2025, including 3-4% organic growth) and raised EPS guidance to $24.64-$25.12. At the midpoint, that is up $0.37 from the previous guidance. The operating margin for the year is forecasted to expand 70 basis points over 2025. The inorganic growth isn't anything to dismiss, though. Since my last article, Thermo has had two full quarters of owning the Purification and Fi...
US president accuses UK of thinking it can ‘make an easy buck’ from US tech companies, weeks after warning that UK–US trade deal can be changed Donald Trump has threatened to impose tariffs on the UK if it does not drop its digital services tax on US social media firms. The digital services tax, introduced in 2020, imposes a 2% levy on the revenues of several major US tech companies. Continue read...
US president accuses UK of thinking it can ‘make an easy buck’ from US tech companies, weeks after warning that UK–US trade deal can be changed Donald Trump has threatened to impose tariffs on the UK if it does not drop its digital services tax on US social media firms. The digital services tax, introduced in 2020, imposes a 2% levy on the revenues of several major US tech companies. Continue reading...