The chancellor has wisely vowed to drive down the annual deficit, but long-term defence investment must not be delayed There is a good reason Rachel Reeves is wary of the dreaded bond market vigilantes . Anyone who inherits a mountain of debt and then finds out that many of the lenders act like sharks is right to be concerned. Most of the participants in financial markets are not actively predatory. They swim in a sea of money with only one rule, to stick together, hoovering up as much profit as they can at the lowest risk. Continue reading...

In June 2021, from a podium in the Cornish countryside, former US president Joe Biden told a relieved Europe that “America is back at the table”. The comment – made after a summit of the Group of Seven rich nations – became a galvanising force for reinvigorated transatlanticism after the first term of Donald Trump had left it in tatters. When Russia invaded Ukraine eight months later, the G7 became the forum of choice for cooking up punitive sanctions against Russia. It was also the venue for...

Altria ( MO ) has an interesting asset on its balance sheet with its longtime stake in Anheuser-Busch InBev ( BUD ). The company has a historical connection to the beer industry that dates all the way back to 1969 and its predecessor, Philip Morris, which acquired Miller Brewing Company. The relationship with brewing took a new shape in 2002, when Miller Brewing merged with South African Breweries to form SABMiller, the world's second-largest beer company, with Philip Morris retaining a continuing interest in the new beer giant. Philip Morris Companies changed its name to Altria Group ( MO ) and kept its beer investment even though it divested other holdings, including spinning off Kraft Foods ( KHC ) in 2007 and Philip Morris International ( PM ) in 2008. The beer investment took another dramatic turn in 2016 after Anheuser-Busch InBev ( BUD ) announced its $103B takeover of SABMiller. Following the closing, Altria ( M ) made subsequent purchases of Anheuser-Busch InBev ( BUD ) to take its stake to approximately 10.2%, a level at which it became entitled to foreign tax credits available in connection with dividends received from the company. Speculation about Altria ( MO ) exiting its beer position picked up after a five-year lock-up restriction expired in 2021. At that time, analysts said the most likely and capital-efficient scenario was divesting the position gradually over time. A partial divestiture eventually was finally fired off in 2024 when Altria ( MO ) announced its intention to sell 35M shares of BUD at $61.50 per share and sell another $200M worth directly back to the beer company. Following the reduction of its stake in BUD to 8.1%, Altria ( MO ) CEO Billy Gifford noted the opportunistic move supported the tobacco giant's balance sheet. Looking ahead, the market broadly expects Altria's ( MO ) stake in BUD to continue to be lowered as the company increasingly defines its future around nicotine pouches, vaping, and smoke-free innovation rather than bee...

Welcome to The Brink . I’m Eliza Ronalds-Hannon , reporting from Atlanta, where I looked into TCW Group’s valuation of its debt and equity stakes in Red Lobster, which Jeffrey Gundlach criticized harshly. We also have news on QVC, Waldorf Productions and a Russian billionaire’s legal dispute. Follow this link to subscribe . Send us feedback and tips at debtnews@bloomberg.net . ‘PIK Magic’ Jeffrey Gundlach unleashed a storm of criticism this week, seemingly aimed at Red Lobster lender TCW Group , over how the asset manager is valuing its debt and equity stakes in the struggling restaurant chain. Gundlach, the former Chief Investment Officer of TCW and a frequent critic of the firm — which fired him in 2009 — took to social media to call out a “bottom tier private credit sponsor” for its valuations of Red Lobster. His description of the firm’s actions align with a recent TCW regulatory filing. Amazingly, and extremely telling, that bottom tier private credit sponsor has, per Bloomberg, marked UP the value of its large Red Lobster debt position five quarters in a row! Marked it UP?!?! Looks like PIK “magic” in action. RUN, RUN, RUN!!!!! TCW had slashed the value its equity stake in Red Lobster by roughly 98%, while continuing to value at par roughly $56 million of Red Lobster debt held in a private business development company, Bloomberg News reported earlier. The marks suggest TCW is confident that Red Lobster’s overall value remains sufficient to fully cover the loan, which has grown in size as interest accrues in kind rather than being paid out in cash. Gundlach went on to describe “PIK magic”: “PIK magic”: borrower cannot make interest payment. It defaults. Lenders don’t want to admit defaults. They book interest as paid that wasn’t. They increase loan principal by the interest defaulted on. They keep the loan value at par. NAV goes up the more loans default. Voila! Debate over the legitimacy of payment-in-kind debt has been raging for years in private credit circl...

Get ahead of the market by subscribing to Seeking Alpha's Wall Street Week Ahead, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports, and conference presentations. Wall Street's major averages jumped on Friday to record highs after Iran declared the Strait of Hormuz open for commercial vessels. President Donald Trump, however, said the naval blockade will remain in effect. The Ports and Maritime Organization of the Islamic Republic of Iran said the Strait of Hormuz is now “completely open” for all commercial vessels for the rest of the Lebanon ceasefire timeline. This comes after Israel and Lebanon announced a 10-day ceasefire on Thursday. The economic calendar seems muted with only a few important data releases in the coming week. Retail sales data will be out on Tuesday. S&P Global’s PMI data for April is scheduled for Thursday alongside the jobs data. _______________________________________________________________ Earnings spotlight: Monday: Steel Dynamics ( STLD ), Alaska Air ( ALK ). See the full earnings calendar . Earnings spotlight: Tuesday: GE Aerospace ( GE ), 3M ( MMM ), Haliburton ( HAL ), United Airlines ( UAL ). See the full earnings calendar . Earnings spotlight: Wednesday: Tesla ( TSLA ), Philip Morris ( PM ), IBM ( IBM ), Boeing ( BA ). See the full earnings calendar . Earnings spotlight: Thursday: Intel ( INTC ), American Express ( AXP ), Gilead ( GLD ), Blackstone ( BX ). See the full earnings calendar . Earnings spotlight: Friday: P&G ( PG ). See the full earnings calendar . Volatility watch: Car rental stocks Avis Budget ( CAR ) and Hertz Global ( HTZ ) are set up for another volatile week of trading based on options volume. The most overbought stocks per their 14-day relative strength index include Mega Fortune ( MGRT ), Avanos Medical ( AVNS ), and Willow Lane Acquisition ( WLAC ). The most oversold stock...

Brookfield Corporation (NYSE: BN) doesn't get the credit it deserves. The global investment firm has delivered a 19% compound annualized total return over the last 30 years, far exceeding the S&P 500 's 11% annualized total return. At that rate, it would have grown a $5,000 investment into nearly $925,000. The leading alternative investment manager believes its best days could lie ahead. That makes it one of the best financial stocks to buy and hold long-term. Image source: Getty Images. Continue reading

hapabapa/iStock Editorial via Getty Images While the Nasdaq gained 100%, the economy grew by 15%, not adjusted for inflation. Who needs cryptos when stocks are so much fun. The Nasdaq Composite Index jumped 1.5% on Friday, wrapping up its 13th consecutive day of gains, the longest such streak since 1992, according to Dow Jones Market Data. It jumped by 17.7% in those 13 trading days and set a new high earlier this week. But the bigger thing: since the bottom of the Liberation Day selloff on April 8, 2025, so in a little over a year, the Nasdaq has gained 60%. This may also have been a record going back to the neolithic period. Or maybe it was just kind of normal or whatever. At any rate, a lot of fun was had by all. To the moon! Since May 1, 2023, in less than three years, the Nasdaq Composite has doubled; it gained 100%, despite the Liberation Day trough in between. Probably just normal or whatever. The S&P 500 gained 71% during that period. Over the same period of less than three years, when the Nasdaq soared by 100% and the S&P 500 by 71%, the US economy grew by 15%, not adjusted for inflation (nominal GDP growth). Not any kind of disconnect whatsoever. Nothing to see here, folks. The S&P 500 Index jumped 1.2% on Friday and by 13% in those 13 trading days. Since the bottom of the Liberation Day selloff on April 8, 2025, in a little over a year, it gained 43%, possibly also a record for the S&P 500 since the neolithic period, or maybe just normal or whatever. The WSJ ran an article this morning that was years too late, but it did nail it: “It’s Getting Harder to Tell Investing from Gambling, and it’s Not Your Fault.” No one cares anymore about anything, as long as this stuff just keeps going up, driven by others that are buying it with the same attitude. There have always been overlaps between gambling and investing, in some periods more than in other periods. It comes and goes in waves. And the distinction has never been clear. It doesn’t have to do with risk-tak...

Key Points57,180 shares were sold for a total transaction value of approximately ~$826,000 across multiple days ending April 16, 2026.

Despite recently being designated a supply-chain risk by the Pentagon, Anthropic is still talking to high-level members of the Trump administration.

felixmizioznikov/iStock Editorial via Getty Images The stock market rallied sharply in each of the past three weeks, with optimism reaching a climax on Friday, April 17. Shares of travel companies were particularly strong following comments from both President Trump and the Iranian media, suggesting that the Strait of Hormuz would return to normal activity. Nothing is for sure yet, as evidenced by additional comments out of Iran’s military, confirming that the passage was, in fact, not open. But price action may be the ultimate arbiter. With the S&P 500 and global equities at or near record highs, airline stocks have been at the heart of the upswing. Today, I’m revisiting Allegiant Travel Company ( ALGT ). The airliner is up 111% in the past year, outperforming the broader market. I had a hold rating on ALGT back in July of 2023 . Shares are down 26% since then, badly lagging the SPX. Today, I reiterate a hold rating. I’ll provide a fresh look at the fundamentals, valuation, and technicals ahead of its Q1 earnings report due out at the end of the month. ALGT: Outperforming Global Stocks YoY Stockcharts.com Back in February, ALGT reported a solid set of quarterly results. Q4 adjusted EPS came in at $2.72, while revenue of $656 million, up 4.5% from the same period last year, was a $9.8 million beat, including a record fixed-fee contribution of $25.5 million. The company noted it achieved a 99.9% controllable completion rate, recognized as industry-leading in service quality. The management team maintained EPS guidance of $8, with analysts calling out outlook conservatism amid macroeconomic headwinds. Shares dipped 0.4% in the session that followed, breaking a string of three consecutive post-reporting gains. Looking ahead to the April 30 Q1 update, the options market prices in a high 9.7% earnings-related stock price swing based on the at-the-money straddle expiring soonest after the report. Right now, implied volatility is very high at 73%, according to data from Op...

Key PointsIWO takes on higher fees but delivered a stronger 1-year return and slightly higher yield.

格隆汇4月18日｜巴基斯坦拉瓦尔品第警方称，由于可能有外国代表团抵达，拉瓦尔品第处于高度戒备状态，自当天午夜24时起，所有餐厅、公园、酒店、购物中心及市场等商业场所均须关闭，直至另行通知。警方将对违规者采取严厉措施。11日，伊朗和美国谈判代表团先后抵达拉瓦尔品第的努尔汗空军基地，随后在首都伊斯兰堡展开谈判。

President Macron blames the attack on Hezbollah. The Iran-backed armed group denies "any connection" to the incident.

格隆汇4月18日｜据央视财经，今年以来，光纤行业呈现出“产品量价齐升”的景气态势。在江苏一家光纤生产企业，工作人员告诉记者，今年一季度，光纤产品产销量同比增长35%以上，其海外销量增速超55%。“出口主要是面向北美和东南亚等地区，现在的在手订单很充足，我们现在排产已经排到明年的一季度。”在江苏的另一家光纤生产企业，负责人告诉记者，今年一季度光纤产销量同比增长近5倍。与此同时，产品价格也出现大幅上涨。“价格是爆发性的增长，G.657.A2光纤去年是每芯公里32元，今年涨到了240元，涨幅达到了650%。”

Key PointsPicking cryptocurrencies is difficult at best in this still-new arena.

【国产光纤全球爆单 部分产品价格暴涨650%】财联社4月18日电，今年以来，光纤行业呈现出“产品量价齐升”的景气态势。在江苏一家光纤生产企业，工作人员告诉记者，今年一季度，光纤产品产销量同比增长35%以上，其海外销量增速超55%。“出口主要是面向北美和东南亚等地区，现在的在手订单很充足，我们现在排产已经排到明年的一季度。”在江苏的另一家光纤生产企业，负责人告诉记者，今年一季度光纤产销量同比增长近5倍。与此同时，产品价格也出现大幅上涨。“价格是爆发性的增长，G.657.A2光纤去年是每芯公里32元，今年涨到了240元，涨幅达到了650%。” (央视财经)

伊朗最高国家安全委员会在一份声明中表示，“只要对手继续扰乱海上航运，或采取海上封锁等措施，伊朗将把此类行为视为违反停火协议，并将阻止霍尔木兹海峡哪怕有限且有条件的重新开放。” 声明称，鉴于该海峡对美国军事后勤的重要性，伊朗“决心继续对海峡通行实施监督和控制，直到战争完全结束并实现地区持久和平”。 声明还表示，伊朗目前正在审议美国近期通过巴基斯坦陆军参谋长访德黑兰所提出的新方案，尚未作出回应。 伊朗谈判团队“不会妥协、不会退让，也不会表现出丝毫松动”。 责任编辑：李桐

JPMorgan has a stark message on Qualcomm stock | QCOM thestreet.com

In this episode of Motley Fool Money, Motley Fool contributors Jon Quast, Rachel Warren, and Jason Hall discuss: To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center . When you're ready to invest, check out this top 10 list of stocks to buy . A full transcript is below. Continue reading

Most investors are familiar with major chipmaker names like Nvidia and Broadcom . And rightfully so. Not only are these companies among the biggest in the business, but their hardware is the heart and soul of the artificial intelligence (AI) revolution. As time marches on, though, smaller semiconductor specialists are finding ways to make a difference, making a name for themselves and rewarding investors in the process. Navitas Semiconductor (NASDAQ: NVTS) is one of these outfits. Here's what you need to know. Image source: Getty Images. Continue reading

AMD Ryzen 9 9950X3D deal knocks down the price of the most powerful CPU on the retail market PC Guide

德国铁路公司首席执行官埃韦琳·帕拉表示，计划到2030年每年投入40亿欧元改造一批火车站。德铁计划2026年对超过1000座车站进行现代化改造，另有710座火车站将在2030年底之前进行大规模翻新，其中130座车站的翻新工程今年开工。（财联社）

俄羅斯一部巴士翻側，造成中國公民兩死十四傷。 一輛載有40多名中國公民的巴士，從中國滿州里開往俄羅斯的赤塔市，周六下午約一時半，駛至俄羅斯遠東外貝加爾邊疆區一條公路時翻側，一人當場死亡，一人送院後不治，傷者送返滿洲里接受治療。 滿洲里市人民政府正與俄方協調，做好傷亡人員家屬的聯絡，安撫及善後工作，並進一步督促相關旅遊企業，加強安全管控。

屯門掃管笏均富花園，有充電池發生爆炸，至少兩人受傷。 消防和救護員現場救治傷者，其中男戶主的腿部受傷，需要用錫紙包紮，現場地下有一個燒焦的充電池。事發是在晚上近8時半，有鄰居聽到均富花園H座村屋，傳出爆炸聲並報警，男戶主和女戶主受傷，送往屯門醫院治理。 現場消息指，屋內充電池突然冒煙，男戶主將充電池搬出屋外期間受傷，當時屋內兩名小童和外傭就無大礙，消防調查起火原因。

US President Donald Trump on Saturday directed his administration to speed up reviews of certain psychedelic drugs, including ibogaine, which recently has been embraced by combat veterans and conservative lawmakers despite having serious safety risks. Ibogaine is banned under the federal government’s most restrictive category for illegal, high-risk drugs. But the administration is taking steps to ease access to psychedelics that Trump said were already designated as potential breakthroughs by...

Investigative journalist and Puck founding partner William D. Cohan and Quest Research and Investigations co-founder Tyler Maroney join David Gura and Christina Ruffini on Bloomberg This Weekend to discuss 'Finding Satoshi', a new documentary that chronicles their four-year investigation into the origins of Satoshi Nakamoto, the pseudonymous creator of Bitcoin, whose identity remains secret. (Source: Bloomberg)

Julie Rubinstein, President and COO of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) , reported the direct sale of 57,180 shares of Common Stock in a series of open-market transactions between April 14 and April 16, 2026, with shares sold at a weighted average price of around $14.45 per share, according to the SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($14.45); post-transaction value based on April 16, 2026, market close ($14.08). * 1-year price change calculated as of market close April 16, 2026. Continue reading

IRGC reportedly fires on tanker as it tries to pass through strait during brief window when shipping lane had reopened • Middle East crisis – live updates Iranian officials say they have reversed the reopening of the strait of Hormuz and reimposed restrictions on the vital shipping lane after the US said it would not end its blockade of Iranian ports. A UK maritime agency reported that Islamic Revolutionary Guard Corps (IRGC) ships had fired at a tanker as it attempted to pass through the strait on Saturday. Reuters reported an Indian-flagged vessel carrying crude oil had also been attacked while in the waterway. Continue reading...

Key PointsCEO Jorge Santos da Silva sold 150,000 shares for a transaction value of approximately ~$2.75 million, based on a weighted average sale price of $18.35 per share.

The Vanguard Mega Cap Growth ETF (NYSEMKT:MGK) and iShares Russell 2000 Growth ETF (NYSEMKT:IWO) differ sharply on cost, sector exposure, and risk profile, with MGK targeting the largest U.S. growth stocks and IWO offering access to a sprawling basket of small-cap growth companies. Both funds aim to capture U.S. growth equities, but their approaches and underlying portfolios are worlds apart. This comparison lays out how MGK’s mega-cap tech concentration stacks up against IWO’s broad small-cap exposure, helping investors weigh cost, performance, diversification, and volatility. Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Continue reading