US President Donald Trump reposted a video and comments from a conservative pundit calling India a “hellhole”, prompting the South Asian country on Thursday to criticise the remarks as “inappropriate”. The comments come ahead of a planned visit next month to India by US Secretary of State Marco Rubio, who would seek to turn the page on recent tensions between the normally friendly powers. Trump la...
US President Donald Trump reposted a video and comments from a conservative pundit calling India a “hellhole”, prompting the South Asian country on Thursday to criticise the remarks as “inappropriate”. The comments come ahead of a planned visit next month to India by US Secretary of State Marco Rubio, who would seek to turn the page on recent tensions between the normally friendly powers. Trump late on Wednesday reposted on social media a video and a screed apparently written by someone else...
Two days after President Trump extended a ceasefire with Iran, the two countries remained at a stalemate over the Strait of Hormuz. The U.S. continued to enforce a blockade it announced after the ceasefire agreement, while Iran is also blocking the waterway as the two countries are seemingly battling for control of the Strait. Oil prices rose on the ongoing shutdown as investors seem to be betting...
Two days after President Trump extended a ceasefire with Iran, the two countries remained at a stalemate over the Strait of Hormuz. The U.S. continued to enforce a blockade it announced after the ceasefire agreement, while Iran is also blocking the waterway as the two countries are seemingly battling for control of the Strait. Oil prices rose on the ongoing shutdown as investors seem to be betting that the closure will endure. Stocks fell, meanwhile, in part due to stalled progress in the conflict, but also due to a collapse in the software sector after ServiceNow (NYSE: NOW) and IBM (NYSE: IBM) both reported earnings last night. While the results were in line with estimates, investors still found reason for concern at a time when fears of AI disruption have swept the software sector this year, causing a massive sell-off. Continue reading
Artificial intelligence is already a huge and rapidly growing market. But in the long term, the size of the AI industry will be enormous. Roughly $7 trillion alone is expected to be spent on data center infrastructure over the next few years to support the compute needs of artificial intelligence applications. Several other trillion-dollar markets are expected to form in support of the burgeoning ...
Artificial intelligence is already a huge and rapidly growing market. But in the long term, the size of the AI industry will be enormous. Roughly $7 trillion alone is expected to be spent on data center infrastructure over the next few years to support the compute needs of artificial intelligence applications. Several other trillion-dollar markets are expected to form in support of the burgeoning AI industry, spanning everything from software to energy. Few companies are as well positioned as Oklo Inc. (NYSE: OKLO) . A developer of small modular reactors, or SMRs, Oklo hopes to bring this innovative approach to nuclear energy directly to data center operators. Unsurprisingly, the company was initially backed by Sam Altman, the CEO of OpenAI, the company behind ChatGPT. Altman was the Chairman of Oklo for many years, and clearly understands how the company's nuclear technology can help meet the rapidly growing energy needs of the AI and data center industries. With a market cap of just $10 billion, could Oklo stock be your ticket to 1,000% returns? Let's crunch the numbers. Continue reading
There are many different ways to lose your job. On Thursday, two tech giants decided to take different paths in dispatching thousands of their employees. First there was Microsoft, which is said to be offering voluntary retirement to thousands of its workers . About 7% of of its US employees will be eligible for the buyouts, something the legacy giant has never previously done at this scale. Then ...
There are many different ways to lose your job. On Thursday, two tech giants decided to take different paths in dispatching thousands of their employees. First there was Microsoft, which is said to be offering voluntary retirement to thousands of its workers . About 7% of of its US employees will be eligible for the buyouts, something the legacy giant has never previously done at this scale. Then there’s Mark Zuckerberg’s Meta. The company shot out a memo on Thursday saying it planned to terminate 10% of workers, or roughly 8,000 employees, starting May 20. Meta employees have spent much of the year fretting about job cuts, which already hit the Reality Labs division and other teams. Now many more are coming. So what’s driving the continuing, arguably accelerating series of mass terminations across tech companies? Take a guess . What You Need to Know Today After years weighing how to dive deeper into private credit , JPMorgan is committing to a strategy that will plow tens of billions of dollars into loans sourced by the firm’s commercial bankers. The bank is talking with institutional investors to raise several billion dollars to get started and has already secured some commitments. If all goes to plan, the firm will be in a position to narrow the gap with its rivals in the asset class, many of whom are reeling after a series of high-profile credit blowups helped spur an investor exodus. The push comes as the private credit market faces its sternest test in years, strained by the surge in redemptions and anxiety over how AI will disrupt the software industry. Chatter about JPMorgan’s push has already incensed some competitors , after the bank’s long-time boss Jamie Dimon repeatedly warned about the market’s potential risks and weakening lending standards. Remember the cockroaches ? Trump Tweet Storms Seen Dashing US Hopes for Iran Talks The president’s affinity for social media, as well as his naval blockade of Iranian ports, have been detrimental to ongoing negoti...
Earnings Call Insights: Univest Financial Corporation (UVSP) Q1 2026 Management view "We had a strong start to the year as we reported net income for the first quarter of $27.1 million or $0.96 per share" and "our ROAA" was "1.33% for the quarter," while "increasing our quarterly dividend 4.5% to $0.23 per share" and "buying back 351,138 shares" (Chairman, President & CEO Jeff Schweitzer). "We saw...
Earnings Call Insights: Univest Financial Corporation (UVSP) Q1 2026 Management view "We had a strong start to the year as we reported net income for the first quarter of $27.1 million or $0.96 per share" and "our ROAA" was "1.33% for the quarter," while "increasing our quarterly dividend 4.5% to $0.23 per share" and "buying back 351,138 shares" (Chairman, President & CEO Jeff Schweitzer). "We saw a solid NIM expansion during the quarter with reported NIM increasing 23 basis points to 3.33%" and "core NIM" was "3.44%" (Senior Executive VP & CFO Brian Richardson). "Credit quality remained strong" with a "provision for credit losses of $1.3 million"; "nonperforming loans and leases" were "approximately 0.25% of total loans" and "net charge-offs" were "$1.3 million or 7 basis points annualized" (Senior Executive VP & CFO Richardson). "Noninterest income increased $1.7 million or 7.5%" year over year, and "when excluding BOLI death benefits, noninterest income increased $2.3 million or 11%"; management cited "continued strength in investment advisory, insurance and servicing-related fee income" and "increased risk participation and swap-related fee income" (Senior Executive VP & CFO Richardson). Expenses included "$427,000 of restructuring charges" and "an increase of $753,000 or 48.8% in medical claims expense"; Richardson said the self-insured medical plan "results in expense volatility based on the timing and magnitude of claims." Outlook "We are maintaining our outlook for loan growth of approximately 2% to 3%, provisioning of $11 million to $13 million" and an effective tax rate of "20% to 21%" (Senior Executive VP & CFO Richardson). "We are updating our full year net interest income growth outlook to the range of 5% to 7%" (Senior Executive VP & CFO Richardson). In the prior quarter, Richardson guided to "net interest income growth of approximately 4% to 6%." Richardson reiterated rate-cut assumptions were not a swing factor: "whether there's 2 cuts or no cuts, we...
Earlier this week, social giant Meta Platforms made headlines after a memo to its employees said it would install software on employees' computers to train AI tools. Internally, it was understandably controversial, as there's no way to "opt out" of task tracking. Externally, it's likely to become a ...
Earlier this week, social giant Meta Platforms made headlines after a memo to its employees said it would install software on employees' computers to train AI tools. Internally, it was understandably controversial, as there's no way to "opt out" of task tracking. Externally, it's likely to become a ...
zhongguo/E+ via Getty Images Duke Energy ( DUK ) said post-market Thursday that it received a renewed operating license from the U.S. Nuclear Regulatory Commission for its Robinson nuclear plant in South Carolina for an additional 20 years, extending the plant's operations until 2050. Robinson, located in Hartsville, S.C. , delivers 759 MW of electricity to power nearly 570K homes; its original 40...
zhongguo/E+ via Getty Images Duke Energy ( DUK ) said post-market Thursday that it received a renewed operating license from the U.S. Nuclear Regulatory Commission for its Robinson nuclear plant in South Carolina for an additional 20 years, extending the plant's operations until 2050. Robinson, located in Hartsville, S.C. , delivers 759 MW of electricity to power nearly 570K homes; its original 40-year operating license was granted by the NRC in 1970, making it one of the first commercial nuclear power plants in the Southeast. The Robinson plant is the second unit in Duke Energy's ( DUK ) six-site nuclear fleet to secure a subsequent license renewal, following the Oconee Nuclear Station in South Carolina in 2025; the company has said it plans to pursue the same extension for all 11 of its operating reactors across the Carolinas. More on Duke Energy Duke Energy's Products Give Us A Credit Risk-Free Opportunity Once Again Duke Energy: Surging Treasury Yields Could Spark Volatility For This Utility Duke Energy: Prime Sunbelt Assets Set It Up For AI Tailwinds
Oil climbed for a fifth day as President Donald Trump’s threats and brash social media posts were seen hampering the prospect of Iran agreeing to more in-person peace talks with the US. West Texas Intermediate rose above $96 a barrel, while Brent closed near $105 on Thursday, taking this week’s advance to about 16%. Trump’s Truth Social posts — as well as his decision to continue with a naval bloc...
Oil climbed for a fifth day as President Donald Trump’s threats and brash social media posts were seen hampering the prospect of Iran agreeing to more in-person peace talks with the US. West Texas Intermediate rose above $96 a barrel, while Brent closed near $105 on Thursday, taking this week’s advance to about 16%. Trump’s Truth Social posts — as well as his decision to continue with a naval blockade of Iranian ports — have been detrimental to ongoing negotiations through mediators such as Pakistan, according to two US officials familiar with the matter. The war has rattled energy markets since it started at the end of February, with the near-closure of the Strait of Hormuz causing a sharp drop in flows from major oil and gas producers in the Persian Gulf. Fresh concerns that peace talks have stalled, an amping up of rhetoric, and increasing military threats are injecting a geopolitical premium into oil prices. “The tensions are tightening a bit more now — the market is now pricing in a more intense standoff, with a longer duration,” said Dennis Kissler , senior vice president for trading at BOK Financial Securities Inc. Futures rose in Thursday’s session after Trump said in a social media post that he had ordered the US Navy to “shoot and kill” boats laying mines in the strait. Meanwhile, American forces boarded a supertanker carrying Iranian oil in the Indian Ocean, as the navy stepped up its blockade of the Islamic Republic’s shipping. Efforts to revive talks between Washington and Tehran remain deadlocked on several other key issues, including the Islamic Republic’s nuclear capabilities and Israeli strikes on Lebanon. The ceasefire in Lebanon has been extended by three weeks, Trump said in a social media post. To get Bloomberg’s Energy Daily newsletter in your inbox, click here . WTI for June delivery climbed 0.8% to $ 96.61 a barrel at 6:01 a.m. in Singapore. Brent for June settlement rose 3.1% to $105.07 a barrel on Thursday.
Thirteen years after her celebrated debut, the author returns with a bizarre, evocative work that merges science and the surreal Get our weekend culture and lifestyle email Romy Ash’s debut novel, Floundering , has sat on my bookshelf since the Sydney Morning Herald, where I worked as literary editor, named her as one of the best young Australian novelists in 2013 – the year she was shortlisted fo...
Thirteen years after her celebrated debut, the author returns with a bizarre, evocative work that merges science and the surreal Get our weekend culture and lifestyle email Romy Ash’s debut novel, Floundering , has sat on my bookshelf since the Sydney Morning Herald, where I worked as literary editor, named her as one of the best young Australian novelists in 2013 – the year she was shortlisted for the Miles Franklin literary award among others. The Australian author Cate Kennedy wrote of the neglected young brothers in Floundering: “These boys are so real you will lie awake worrying about them” – words so true that I still feel anxious for them. Continue reading...
US confrontations with Iran over the Strait of Hormuz point to future American attempts to contain China via maritime chokepoints, a Chinese policy adviser has warned, suggesting that Beijing boost its naval presence in the region. In a policy recommendation addressed to Beijing, Gu Dingguo, an East China Normal University research fellow in neighbourhood diplomacy and security, said the Iran war ...
US confrontations with Iran over the Strait of Hormuz point to future American attempts to contain China via maritime chokepoints, a Chinese policy adviser has warned, suggesting that Beijing boost its naval presence in the region. In a policy recommendation addressed to Beijing, Gu Dingguo, an East China Normal University research fellow in neighbourhood diplomacy and security, said the Iran war reflected Washington’s greater emphasis on implementing its maritime security strategy. “By...