British Prime Minister Keir Starmer acknowledged Monday that he made the wrong judgment when he appointed Jeffrey Epstein’s friend Peter Mandelson as UK ambassador to Washington but said he would not have done so if he had known Mandelson had failed security checks. Starmer faced a barrage of opposition calls to resign as he tried to explain why Mandelson was given the job despite failing security...
British Prime Minister Keir Starmer acknowledged Monday that he made the wrong judgment when he appointed Jeffrey Epstein’s friend Peter Mandelson as UK ambassador to Washington but said he would not have done so if he had known Mandelson had failed security checks. Starmer faced a barrage of opposition calls to resign as he tried to explain why Mandelson was given the job despite failing security vetting for the UK’s most important diplomatic post. Starmer brushed aside the demands, placing...
Last week, when news broke that QVC Group Inc. had filed for bankruptcy protection in an effort to shed $5 billion in debt, it might have been the first time you’d thought about televised home shopping in a while. The company, which operates both the QVC and HSN networks , feels in some ways like a relic of the near past—a time when average Americans didn’t carry a portal to unfathomable abundance...
Last week, when news broke that QVC Group Inc. had filed for bankruptcy protection in an effort to shed $5 billion in debt, it might have been the first time you’d thought about televised home shopping in a while. The company, which operates both the QVC and HSN networks , feels in some ways like a relic of the near past—a time when average Americans didn’t carry a portal to unfathomable abundance in their pocket at every waking moment. But now most US households have an Amazon Prime subscription and access to a near-endless array of product recommendations and reviews online. Who, exactly, still wants to buy from some lady on TV rapturously extolling the virtues of a rainbow rack of sporty separates? QVC has struggled mightily in recent years—with declining network viewership, stiff competition for its e-commerce operation, difficulty wooing younger shoppers to an old name—so it’s not quite right to describe it as a victim of its own success. What it might be, though, is a victim of its own insights. Decades before affiliate links and livestreaming platforms made all of us potential salespeople, home-shopping TV understood that a skilled messenger could sell almost anything to bored people alone on the couch. The products—kitchen gadgets, cosmetics, business-casual blouses—were largely beside the point. QVC might be in dire financial straits, but we’re all living in the consumer world that its networks built. Enterprising hucksters had been tinkering with ways to scale up the personal, in-home sales pitch since the Industrial Revolution made the first forms of modern mass media possible. But it took the proliferation of television sets to really get things humming. TV shopping burst to prominence in 1985 with the national launch of what would later be called the Home Shopping Network. QVC joined the following year. The networks’ live sales sessions and call-in ordering gave customers a sense that they had a personal relationship with their favorite peddlers, with w...
Sandwish/iStock via Getty Images Investment Thesis I reiterate my buy recommendation on assets that track the main American indices. This article is part of a weekly series starting on November 7, 2024, where I bring valuable insights to SA readers. Amid contradictory news regarding the War in Iran, my intention in this article is to show the size of the opportunity generated by the situation. Con...
Sandwish/iStock via Getty Images Investment Thesis I reiterate my buy recommendation on assets that track the main American indices. This article is part of a weekly series starting on November 7, 2024, where I bring valuable insights to SA readers. Amid contradictory news regarding the War in Iran, my intention in this article is to show the size of the opportunity generated by the situation. Context Incredible as it may seem, the S&P 500 has already recovered from the drop after the War in Iran. Since the start of the War on February 28th until last Friday, the S&P 500 has already risen more than 3.5%, throwing cold water on alarmist analysts and skeptical investors. I already expected such behavior, but not with such force. Price (SA) The last week was the third in a row in which the S&P 500 rose above 3%. This performance only occurred in June 2020 in the recovery after the fall of C-19 and also in September 1982 and September 1940. Consecutive Weekly Gains Over 3% (Zero Hedge and Bloomberg) The turnaround in the rally was the 2nd fastest in history since 1950 and was only second to 1982, when the FED was under the command of Paul Volcker. S&P 500 Fast Paced From Weakness to Strength Rallies (Bloomberg) The data shows how strong the market is, but as I said, I already expected this behavior. Financial market specialists have analyzed the performance of the S&P 500 following major geopolitical events since the Korean War in 1953. The result is an average increase of 14.2% after 12 months. Of course you can argue that it is not possible to compare the current economy with the economy at the time of other geopolitical events, but I have solid arguments to believe that a similar performance will occur again. S&P 500 After Major Geopolitical Events (Procap) Bullish Arguments The next earnings season for the S&P 500 is full of expectations. The market has not expected profits to grow above 15% year on year for a long time, and as we know, companies have beaten market ...
PM sets out his side of events relating to appointment and security vetting in address to parliament UK politics live – latest updates Keir Starmer has ordered an investigation into any security concerns relating to Peter Mandelson’s tenure as UK ambassador to the US as he gave his side of events in a politically crucial statement in parliament. “I know many members across the house will find thes...
PM sets out his side of events relating to appointment and security vetting in address to parliament UK politics live – latest updates Keir Starmer has ordered an investigation into any security concerns relating to Peter Mandelson’s tenure as UK ambassador to the US as he gave his side of events in a politically crucial statement in parliament. “I know many members across the house will find these facts to be incredible,” Starmer told jeering MPs, after setting out how the Foreign Office opted to overrule the initial decision to refuse Mandelson’s security vetting without informing him and other ministers. Continue reading...
J Studios/DigitalVision via Getty Images Topline Summary and Update When I last took a look at Kura Oncology, Inc. ( KURA ) in March 2025, I had pretty substantial optimism for the company's launch for the approval and initial launch of ziftomenib, the second inhibitor of a protein called menin that is useful in selected populations of patients with acute myeloid leukemia (AML). Since that sanguin...
J Studios/DigitalVision via Getty Images Topline Summary and Update When I last took a look at Kura Oncology, Inc. ( KURA ) in March 2025, I had pretty substantial optimism for the company's launch for the approval and initial launch of ziftomenib, the second inhibitor of a protein called menin that is useful in selected populations of patients with acute myeloid leukemia (AML). Since that sanguine forecast, KURA has risen around 30% overall after experiencing a post-approval rise and then decline into the end of the year. Today, I want to review what we've learned so far about the initial launch of ziftomenib, as well as make the case for excitement heading into maturity of trials studying combinations, despite the looming challenges associated with a crowded field of real and potential competitors. Pipeline Updates Ziftomenib KURA's flagship molecule is the menin inhibitor ziftomenib, which is approved for the management of previously treated AML in patients who have a mutation in the NPM1 gene. This aberration is found in approximately 30% of patients, making it one of the most common biomarkers found in the disease. This approval came weeks after that for Syndax's revumenib in October . Revumenib was previously also approved for patients with the much less-common KMT2A translocation. Both ziftomenib and revumenib are offered as single agents in the relapsed/refractory setting. This approval was based on findings from the KOMET-001 study, which demonstrated a complete response rate of 23% in the phase 2 portion, with a median duration of overall response of just 4.6 months. One slight advantage that ziftomenib has over revumenib in terms of toxicity is that dose adjustments are not recommended on the label for patients who are receiving strong CYP3A4 inhibitors (eg, antifungal agents, certain antibiotics, certain antidepressants), which may influence decision making in the setting of polypharmacy. Both revumenib and ziftomenib have had a bit of a "coming to earth...
Half of UK executives now think AI will mean fewer jobs over the next decade — with young workers expected to be hardest hit. Irina Anghel explains. (Source: Bloomberg)
Half of UK executives now think AI will mean fewer jobs over the next decade — with young workers expected to be hardest hit. Irina Anghel explains. (Source: Bloomberg)
DNY59/E+ via Getty Images Thesis Summary Over the last 10 days, stocks have staged an absolutely historic rally. With encouraging news that the war may be over, oil coming off the highs, and AI stocks continuing to deliver, it seems like sentiment has shifted quickly. I recently talked about the key market forces that were helping markets rally. Things like options, positioning, and liquidity tail...
DNY59/E+ via Getty Images Thesis Summary Over the last 10 days, stocks have staged an absolutely historic rally. With encouraging news that the war may be over, oil coming off the highs, and AI stocks continuing to deliver, it seems like sentiment has shifted quickly. I recently talked about the key market forces that were helping markets rally. Things like options, positioning, and liquidity tailwinds. This creates a reflexive scenario, where higher prices force market participants to chase and create a reflexive loop. But reflexivity works both ways. If the narrative begins to shift, then a historic rally could be followed by a historic sell-off. Renewed stress in Hormuz, an AI slowdown, stubborn inflation, and political instability are all possible triggers that could force a reflexive loop, only this time to the downside. Is Hormuz Really Open? If you believe some of the headlines from last week, then you’d be inclined to think the Strait of Hormuz is a non-issue. But at the very least, there are some mixed opinions. As I write this, Iran has said it has no intentions to continue talks with the U.S. following an embargo of an Iranian ship. Moreover, it seems like Iran is ready to retaliate. I maintain what I said in a previous article. I think oil may have stopped, or at least it won't go much higher from here. But if we keep at over $100 levels for the next few months, this is going to become a very real drag on the economy. The market seems highly complacent here, and this gives us a clear downside set-up. AI Slowdown If geopolitics is the obvious risk, AI is a more subtle one that we can’t overlook. AI has become the backbone of this market rally and the economy. It’s the spending from hyperscalers that is really helping maintain high corporate earnings, paired with AI efficiencies. This is all well and good until it isn't. It doesn’t need to collapse in order for sentiment to shift. A delay in deployments, a moderation in capex growth, or weaker-than-expecte...
A lot of people struggle to save anything for retirement. So if you're in a position where you're maxing out your IRA , consider yourself ahead of the game. But while maxing out an IRA is fantastic, it may not be enough to meet your retirement savings goals. That's because this year, IRAs max out at $7,500 for workers under 50 and $8,600 for those 50 and over. With a 401(k), by contrast, you can c...
A lot of people struggle to save anything for retirement. So if you're in a position where you're maxing out your IRA , consider yourself ahead of the game. But while maxing out an IRA is fantastic, it may not be enough to meet your retirement savings goals. That's because this year, IRAs max out at $7,500 for workers under 50 and $8,600 for those 50 and over. With a 401(k), by contrast, you can contribute up to $24,500 this year if you're under 50 and up to $32,500 if you're 50 or older. Image source: Getty Images. Continue reading
The Strait of Hormuz now appears to be just as closed as before Iran and the US said the vital oil channel had been reopened. Traffic through the strait on Sunday and Monday was reduced to a trickle after Tehran rejected a continuing US naval blockade and moved to seal the waterway again. The reduced movement underscores just how quickly hopes unraveled that cargoes could once again resume. On Fri...
The Strait of Hormuz now appears to be just as closed as before Iran and the US said the vital oil channel had been reopened. Traffic through the strait on Sunday and Monday was reduced to a trickle after Tehran rejected a continuing US naval blockade and moved to seal the waterway again. The reduced movement underscores just how quickly hopes unraveled that cargoes could once again resume. On Friday, Iran’s Foreign Minister Abbas Araghchi said the strait was “completely open” for commercial shipping, while US President Donald Trump said Iran was removing sea mines from the waterway. That prompted oil prices to plunge and dozens of tankers to race toward the strait at the mouth of the Persian Gulf. But Iran quickly declared that the passage was closed again as it emerged that the US operation in place since April 13 would not be lifted. The chaotic, on-off nature of ship traffic through the strait underscores just how difficult it will be to fully restore oil and gas flows that are vital to the global economy. On Monday, just two liquefied petroleum gas carriers and two oil product tankers moved through the strait in both directions. The previous day, two LPG vessels and a cruise liner sailed out of the gulf, while no inbound transits were seen. The Gas Harmony , an LPG carrier, went dark inside the gulf on Saturday morning but reappeared off the coast of Oman on Monday, indicating that the vessel transited the strait in the interim. The Liberia-flagged ship is owned and managed by Athens-based Gas Harmony Shipping Ltd., according to maritime database Equasis. At least three Mediterranean Shipping Co. containerships and a MSC cruise liner, along with a handful of other passenger vessels, appear to have exited the gulf on Saturday, hugging the Omani coastline. That was a deviation from the corridor approved by Iran during the short-lived opening of the waterway. Another MSC containership remains off-grid after it stopped signaling inside the gulf. The company didn’t ...
US President Donald Trump speaks to the press before departing from the South Lawn of the White House in Washington, DC, on April 16, 2026. Brendan Smialowski | AFP | Getty Images President Donald Trump on Monday again threatened Iran with overwhelming military force, saying "lots of bombs [will] start going off" if no deal is reached before a shaky ceasefire with Tehran expires Tuesday evening. T...
US President Donald Trump speaks to the press before departing from the South Lawn of the White House in Washington, DC, on April 16, 2026. Brendan Smialowski | AFP | Getty Images President Donald Trump on Monday again threatened Iran with overwhelming military force, saying "lots of bombs [will] start going off" if no deal is reached before a shaky ceasefire with Tehran expires Tuesday evening. The latest threat, made in a phone call with a PBS News reporter , came as the status of additional U.S.-Iran peace talks, and other key details on the current relationship between the warring powers, appeared to grow increasingly opaque. At the same time, Trump has resumed his saber-rattling rhetoric, which had escalated two weeks ago before the expiring fragile ceasefire was reached. Trump, in phone calls with reporters over the past two days, has vacillated between war mongering and unclear details about the status of further peace talks. Monday's threat of more bombing followed a Sunday morning declaration to a Fox News reporter that "the whole country is going to get blown up" and that if Tehran doesn't sign a deal, Iran's bridges and power plants will be targeted in those attacks. The threats escalate tensions with Iran even as a U.S. delegation gears up to travel back to Pakistan for a potential second round of peace talks. The delegation "plans to travel to Islamabad soon," a source familiar with the matter told CNBC on Monday morning on condition of anonymity to discuss the trip. The information, which implies the delegation has yet to depart, came after Trump told a New York Post reporter Monday morning that U.S. officials are "heading over now." A first round of talks in Islamabad earlier this month, led by Vice President JD Vance and U.S. Special Envoys Steve Witkoff and Jared Kushner , ended with no deal after a 21-hour negotiating session. Trump confirmed to the New York Post that the same three officials are part of the round-two delegation. It was not immedia...
David Becker/Getty Images News A Rivian ( RIVN ) factory that was being used for parts, storage, and logistics for the R2 SUV was damaged by tornadoes over the weekend, potentially disrupting the company’s upcoming launch of its mid-sized SUV. While its assembly line continues to operate as usual, the areas damaged by the storm—including the roof and at least one wall of the building—are expected ...
David Becker/Getty Images News A Rivian ( RIVN ) factory that was being used for parts, storage, and logistics for the R2 SUV was damaged by tornadoes over the weekend, potentially disrupting the company’s upcoming launch of its mid-sized SUV. While its assembly line continues to operate as usual, the areas damaged by the storm—including the roof and at least one wall of the building—are expected to resume operations this week. According to the National Weather Service , Rivian’s ( RIVN ) Illinois factory was impacted by a “significant tornado outbreak” across the upper Midwest on Friday. Rivian ( RIVN ) is hoping the R2 will put the company in the black, with the vehicle to be priced competitively to the Tesla ( TSLA ) Model Y, Hyundai (HYMTF) Ioniq 5, and Ford ( F ) Mustang Mach-E. The two-row, five-seat SUV is built on a new structural battery pack with cylindrical cells and acceleration that can take the vehicle from zero to 60 mph in under three seconds. This leads the company to assume an ambitious delivery goal in the “mid tens of thousands.” The first deliveries are expected in June. More on Rivian Rivian: A Platform-Driven Growth Story (Rating Upgrade) Rivian: Thank You, Uber! Rivian: Why It's Finally Time To Buy (Rating Upgrade) Rivian and Redwood Materials to repurpose battery packs for energy storage SA analyst upgrades/downgrades: PLTR, RIVN, GILD, INTC