Malaysia’s search for alternative crude supplies is complicating Prime Minister Anwar Ibrahim’s “friends with all” foreign policy, analysts have said, with the country potentially tapping Russian oil despite Western sanctions against Moscow. On Thursday, oil prices rose again after Iran declared the Strait of Hormuz closed, 103 days after the US-Israel war with Iran began on February 28. Washingto...
Malaysia’s search for alternative crude supplies is complicating Prime Minister Anwar Ibrahim’s “friends with all” foreign policy, analysts have said, with the country potentially tapping Russian oil despite Western sanctions against Moscow. On Thursday, oil prices rose again after Iran declared the Strait of Hormuz closed, 103 days after the US-Israel war with Iran began on February 28. Washington has signalled it wants sanction waivers over Russian oil to end “as soon as possible”. Economy...
Japan’s crude oil imports in July are expected to be fully sourced from areas that don’t require transit through the Strait of Hormuz, Prime Minister Sanae Takaichi said Thursday, as she seeks to diversify the resource-poor nation’s energy supply ahead of the hot summer months. “In July we are expecting to secure from alternate sources about 100% of the average monthly amount,” said Takaichi at a ...
Japan’s crude oil imports in July are expected to be fully sourced from areas that don’t require transit through the Strait of Hormuz, Prime Minister Sanae Takaichi said Thursday, as she seeks to diversify the resource-poor nation’s energy supply ahead of the hot summer months. “In July we are expecting to secure from alternate sources about 100% of the average monthly amount,” said Takaichi at a cabinet meeting held Thursday afternoon. She added that crude oil imports from the United States were expected to increase more than tenfold compared with a year earlier. “Thanks to the efforts of all of those involved, it looks like we’ll be able to fully source all of our crude oil from areas outside of the Strait of Hormuz, despite having relied on the strait for over 90% of our oil previously,” she said. The announcement comes as US and Iranian forces in the area clash despite a tenuous ceasefire. Tehran has said the strait would be closed to all types of vessels, while the US has said commercial ships are continuing to transit through the waterway. Read more: Trump Vows More Strikes on Iran Thursday If It Holds Out on Deal Takaichi has spearheaded efforts since the outbreak of the war in Iran to diversify Japan’s supply of energy and chemical byproducts to smooth over any disruptions in the supply chain and keep the economy humming. In early April she said about half of crude oil imports in May would come from alternative sources. By late April she said that about 60% of crude oil imports in May would be imported via routes that didn’t involve the strait. Japan’s crude oil will now also be sourced from countries in Central and South America, Africa, as well as Asia, Takaichi said. Japan is also set to buy oil from Canada, and the first batch of crude oil from Mexico is set to arrive in July, she added. While securing sufficient volumes of crude oil through alternative sourcing may provide some relief, challenges remain. Since Japanese refineries are configured to proce...
Nor is the dreamy promise that this tech will unlock boundless potential and productivity Everything we hear about artificial intelligence is conflicting, and hearing about it feels inescapable. AI is terrible. AI is wonderful. It will break the world. It will transform the future. It’s essential to embrace it. It’s a moral imperative to abstain from using it. Already, AI is projected to generate ...
Nor is the dreamy promise that this tech will unlock boundless potential and productivity Everything we hear about artificial intelligence is conflicting, and hearing about it feels inescapable. AI is terrible. AI is wonderful. It will break the world. It will transform the future. It’s essential to embrace it. It’s a moral imperative to abstain from using it. Already, AI is projected to generate nearly unfathomable amounts of revenue. In the last quarter of 2025, it represented nearly 60% of the growth in the US economy. Already, pundits and economists wring their hands about what calamity will befall us if and when the AI bubble bursts. Continue reading...
Welcome to Bloomberg’s AI Today newsletter. Every weekday we’ll break down artificial intelligence’s threats and opportunities for businesses, workers, finance and economies. Sign up now if you’re not already on the list. Up first Artificial intelligence is being held up as the next great hope for the American economy. It’s also become a new source of inflation. After years of being stung by risin...
Welcome to Bloomberg’s AI Today newsletter. Every weekday we’ll break down artificial intelligence’s threats and opportunities for businesses, workers, finance and economies. Sign up now if you’re not already on the list. Up first Artificial intelligence is being held up as the next great hope for the American economy. It’s also become a new source of inflation. After years of being stung by rising prices, American households and businesses are facing the reality that the massive buildout of AI data centers is driving up costs for critical hardware that’s used in all kinds of consumer staples, from phones and computers to cars. The vast quantities of chips that data centers need is spurring demand for memory and that impact is showing up in official inflation data . Software and computer accessories, which usually become cheaper as technology improves, were up 14.5% in May from a year earlier. The memory squeeze will add 0.4 percentage point to headline inflation before it eases, Bloomberg Economics calculates. That’s a tad different from the situation in China, where consumer inflation has stalled in a sign manufacturers are struggling to pass higher costs to consumers . To be clear, the cost pressures aren’t anywhere near as severe as the inflation outbreak triggered by the pandemic. Some economists even caution that it’s hard to gauge just how much AI-driven inflation there actually is . It’s also expected that AI will spur greater productivity that will in turn drive the kind of economic growth that doesn’t trigger inflation. But that’s not what’s happening right now as both business owners and consumers complain that the price for a memory upgrade or a new laptop has shot up. The official sector has noticed, too. Fed Governor Lisa Cook and St. Louis Fed chief Alberto Musalem are among policymakers who’ve recently highlighted various ways the AI boom is pushing prices up, whether via chips or electricity. Those hoping that AI will slow inflation have a while to ...
Whether you prefer the snowy peaks of Colorado or the historic rivers of Europe, the choice between Vail Resorts (NYSE:MTN) and Viking Holdings (NYSE:VIK) represents a classic travel sector debate. Both companies cater to high-spending leisure travelers but operate in distinct niches within the broader market. Vail Resorts relies on recurring pass sales and mountain operations, while Viking focuse...
Whether you prefer the snowy peaks of Colorado or the historic rivers of Europe, the choice between Vail Resorts (NYSE:MTN) and Viking Holdings (NYSE:VIK) represents a classic travel sector debate. Both companies cater to high-spending leisure travelers but operate in distinct niches within the broader market. Vail Resorts relies on recurring pass sales and mountain operations, while Viking focuses on luxury cruise experiences. This comparison examines their growth trajectories, balance sheet health, and valuation to help you decide which is the better buy. Vail Resorts operates 42 mountain resorts and regional ski areas across North America, Europe, and Australia. Its strategy revolves around the Epic Pass, which encourages early season spending and builds customer loyalty across iconic locations like Breckenridge and Vail Mountain. By selling these passes well before the first snowflake falls, the company secures a predictable revenue stream from its massive global audience. Continue reading
UK Plans To Jail Tech CEOs Who Refuse To Spy On Every Phone Authored by Steve Watson via Modernity , New measures would compel client-side inspection of every photo, video and message on devices, escalating the digital ID lockdown already plotted for British smartphones in coordination with major technology firms. Privacy advocates warn the "child safety" framing masks a broader drive to turn pers...
UK Plans To Jail Tech CEOs Who Refuse To Spy On Every Phone Authored by Steve Watson via Modernity , New measures would compel client-side inspection of every photo, video and message on devices, escalating the digital ID lockdown already plotted for British smartphones in coordination with major technology firms. Privacy advocates warn the "child safety" framing masks a broader drive to turn personal phones into mandatory surveillance endpoints, with criminal penalties aimed at any executive who resists. Reclaim The Net, an organization dedicated to countering online censorship and digital surveillance, flagged the draft legislation in recent updates. The UK is drafting a law to jail tech execs for 5 YEARS if they refuse to build scanners that scan EVERY photo, video & message on your phone. Refuse the backdoor = go to prison. All while screaming "think of the children." https://t.co/fN2rLCwuGk — Reclaim The Net (@ReclaimTheNetHQ) June 9, 2026 The group described how UK authorities are preparing to imprison tech executives for up to five years under the Online Safety Act if companies refuse to build and deploy scanners capable of reviewing every piece of content on user devices. The push targets expanded "client-side scanning" features, requiring devices to inspect material before it is sent or received. Existing tools from Apple and Google, such as nudity detection in Messages or sensitive content warnings, would be broadened into comprehensive, always-active systems. Non-compliance would trigger direct penalties against company leadership rather than the firms alone. UK Wants Message Scanning on Phones, Jail CEOs Who Refuse https://t.co/B3WfHIS21p — Reclaim The Net (@ReclaimTheNetHQ) June 9, 2026 Former Home Office safeguarding minister Jess Phillips, who resigned in May, had publicly pressed for faster action. She stated it had taken a year to secure agreement even to threaten legislation in this space and expressed frustration that promised timelines kept slipp...
Shoe Carnival ( SCVL ) said that it received shareholder approval to change its corporate name to Shoe Station Group, effective June 12. The company will change its Nasdaq ticker to “SHOE” starting Friday, June 12, 2026, while continuing to trade under “SCVL” through market close on Thursday, June 11. The Board approved a quarterly cash dividend of $0.17 per share, payable on July 20, 2026, to sha...
Shoe Carnival ( SCVL ) said that it received shareholder approval to change its corporate name to Shoe Station Group, effective June 12. The company will change its Nasdaq ticker to “SHOE” starting Friday, June 12, 2026, while continuing to trade under “SCVL” through market close on Thursday, June 11. The Board approved a quarterly cash dividend of $0.17 per share, payable on July 20, 2026, to shareholders of record as of July 6, 2026. "The new name and new ticker are reflective of our multi-banner strategy with Shoe Station as our primary long-term growth vehicle and Shoe Carnival continuing in markets where it is dominant." said Cliff Sifford , interim president and CEO. More on Shoe Carnival Shoe Carnival Gets To Single-Digit P/E Ex-Cash, But Is A Falling Knife Shoe Carnival, Inc. (SCVL) Q1 2027 Earnings Call Transcript Shoe Carnival's Rebannering Plan Might Not Be Going Well (Rating Downgrade) Shoe Carnival Non-GAAP EPS of $0.23 in-line, revenue of $270.7M beats by $3.4M Shoe Carnival Q1 2027 Earnings Preview
Analysts are too conservative in their outlook for artificial intelligence spending next year, according to Goldman Sachs Group Inc. strategists, who expect further gains for stocks linked to the theme. The team including Ryan Hammond sees hyperscaler spending climbing to as much as $1.4 trillion in 2027, supported by strong cash flows and additional investment-grade debt funding. This contrasts w...
Analysts are too conservative in their outlook for artificial intelligence spending next year, according to Goldman Sachs Group Inc. strategists, who expect further gains for stocks linked to the theme. The team including Ryan Hammond sees hyperscaler spending climbing to as much as $1.4 trillion in 2027, supported by strong cash flows and additional investment-grade debt funding. This contrasts with current analyst estimates of about $920 billion. Increased investment would support further earnings growth in AI infrastructure companies, the strategists said. While the sector’s shares have already rallied significantly, the team argued the gains have been driven by improving profit expectations. Oracle Corp. shares slumped in premarket trading Thursday after the firm reported quarterly capital expenses that exceeded estimates, largely for data centers. While the capex numbers from Oracle triggered investor concerns, they also sparked gains in chipmakers and other AI infrastructure names. Valuation concerns are rising, the Goldman team noted. The median multiple for AI infrastructure companies has risen to 26 times price-to-earnings, the highest since OpenAI’s ChatGPT launch in late 2022. Still, the recent rerating has been concentrated in semiconductor and power-related companies outside utilities, rather than in hyperscalers or memory stocks, they said. In a separate note ahead of SpaceX’ s much-anticipated blockbuster listing, Hammond’s colleague Ben Snider , who is chief US equity strategist, said the record US equity issuance is unlikely to derail the current bull market. He reiterated his year-end target of 8,000 points for the S&P 500 Index, citing continued earnings growth.
Market Snapshot S&P 500 futures 7,333.75 +0.8% Nasdaq 100 futures 28,907.25 +1.2% Stoxx Europe 600 Index 622.83 +0.8% US 10-year Treasury yield 4.53% -0.03 WTI crude oil futures $89.32 -0.8% Market data as of 06:16 AM ET. Data is subject to provider delays. Five things you need to know S&P 500 futures are rising even as President Trump threatens more strikes against Iran on Thursday. Brent has rev...
Market Snapshot S&P 500 futures 7,333.75 +0.8% Nasdaq 100 futures 28,907.25 +1.2% Stoxx Europe 600 Index 622.83 +0.8% US 10-year Treasury yield 4.53% -0.03 WTI crude oil futures $89.32 -0.8% Market data as of 06:16 AM ET. Data is subject to provider delays. Five things you need to know S&P 500 futures are rising even as President Trump threatens more strikes against Iran on Thursday. Brent has reversed gains to trade near $92 a barrel. Treasury yields fell across the curve. Oracle shares declined in premarket trading after the company reported quarterly capital expenses that were higher than estimates. That’s raising concerns about the profitability of the AI infrastructure business. SpaceX’s IPO has attracted demand for more than four times the available shares, according to people familiar with the matter. The stock is set to start trading on Friday. The European Central Bank is poised to raise interest rates , judging it can no longer ignore the upswing in inflation caused by the Iran war. (More on that later in the newsletter.) Shares of Alibaba Group Holding and JD.com slid after Chinese regulators scolded leading e-commerce players for what it called misleading promotions. Wall Street’s worries Global stocks are close to record highs, but that doesn’t mean Wall Street is preparing for a care-free summer. Across bonds, credit and equities, some of the biggest names in investing are putting their worries on record: PIMCO warns that the “credit loss cycle is upon us.” The firm, which manages $2.3 trillion in assets, says the AI buildout could leave weaker and more heavily leveraged borrowers exposed. Jim Chanos, a veteran short seller, says the SpaceX IPO is being driven more by investor enthusiasm for Elon Musk and AI than by financial fundamentals. He calls it a “hopes-and-dreams IPO.” Alternative asset manager KKR sees long-dated government bonds struggling as inflation remains high. For investors, that means assets that once acted as risk-free “shock absorber...
Justin Sullivan/Getty Images News Schwab Asset Management ( SCHW ) has announced an immediate reduction in the operating expense ratios for four of its core equity index ETFs, effective June 11, 2026. The fee reductions apply to the Schwab U.S. Mid-Cap ETF ( SCHM ) and Schwab U.S. Small-Cap ETF ( SCHA ), both of which dropped from 0.04% to 0.03%, alongside the Schwab International Small-Cap Equity...
Justin Sullivan/Getty Images News Schwab Asset Management ( SCHW ) has announced an immediate reduction in the operating expense ratios for four of its core equity index ETFs, effective June 11, 2026. The fee reductions apply to the Schwab U.S. Mid-Cap ETF ( SCHM ) and Schwab U.S. Small-Cap ETF ( SCHA ), both of which dropped from 0.04% to 0.03%, alongside the Schwab International Small-Cap Equity ETF ( SCHC ) and Schwab Emerging Markets Equity ETF ( SCHE ), which were lowered to 0.06% from 0.08% and 0.07%, respectively. Following these adjustments, 16 out of Schwab’s 24 market-cap-weighted index equity and fixed-income ETFs are now priced at just 3 basis points (bps). This strategic cost reduction allows investors to build highly diversified domestic or global index portfolios at minimal cost; for example, a diversified portfolio utilizing these funds would carry an expense ratio range of just 3 bps to 8 bps, translating to roughly $3 to $8 in annual fees for every $10,000 invested. More on Charles Schwab The Charles Schwab Corporation (SCHW) Analyst/Investor Day - Slideshow Schwab Remains Highly Attractive The Charles Schwab Corporation (SCHW) Analyst/Investor Day Transcript Which brokerages are scrapping pattern day trading rules today? Charles Schwab introduces 24/7 trading for select crypto futures