↗️ Taiwan Semiconductor Manufacturing (TW:2330, (TSM): The world’s largest contract chip maker beat profit expectations and raised its revenue outlook for the year, in a sign of strong demand for AI chips despite uncertainties from the war.
↗️ Taiwan Semiconductor Manufacturing (TW:2330, (TSM): The world’s largest contract chip maker beat profit expectations and raised its revenue outlook for the year, in a sign of strong demand for AI chips despite uncertainties from the war.
↗️ Taiwan Semiconductor Manufacturing (TW:2330, (TSM): The world’s largest contract chip maker beat profit expectations and raised its revenue outlook for the year, in a sign of strong demand for AI chips despite uncertainties from the war.
↗️ Taiwan Semiconductor Manufacturing (TW:2330, (TSM): The world’s largest contract chip maker beat profit expectations and raised its revenue outlook for the year, in a sign of strong demand for AI chips despite uncertainties from the war.
BERLIN, April 16 (Reuters) - Chinese car brands like BYD are gaining traction among German consumers who are increasingly looking to buy electric cars amid rising fuel prices, according to online
BERLIN, April 16 (Reuters) - Chinese car brands like BYD are gaining traction among German consumers who are increasingly looking to buy electric cars amid rising fuel prices, according to online
Torsten Asmus/iStock via Getty Images By Christopher Gannatti, CFA A Different Kind of Commodity Cycle Commodity markets are often framed through a familiar lens: global growth accelerates, demand rises, and prices follow. But the current environment is being shaped by something far less linear and possibly far more consequential. Today’s commodity cycle is increasingly defined by supply-side disr...
Torsten Asmus/iStock via Getty Images By Christopher Gannatti, CFA A Different Kind of Commodity Cycle Commodity markets are often framed through a familiar lens: global growth accelerates, demand rises, and prices follow. But the current environment is being shaped by something far less linear and possibly far more consequential. Today’s commodity cycle is increasingly defined by supply-side disruptions and geopolitical fragmentation, not synchronized demand strength. While energy markets remain central to the narrative, the more important developments are happening beneath the surface, in the inputs and linkages that tie the entire commodity ecosystem together. One such linkage is fertilizer. Significant geopolitical tensions in the Middle East, alongside broader dislocations in global trade flows, are beginning to affect fertilizer availability and pricing. This may seem like a niche issue, but fertilizer sits upstream of global agricultural production. When its cost or accessibility changes, it reshapes decision-making across millions of acres of farmland. Even if there is a ceasefire or deal, this cannot be instantly solved. The result is a cascading set of second-order effects that markets do not always price efficiently or immediately. And it is within these second-order effects where we believe some of the most compelling potential opportunities, as well as risks, are emerging. The Catalyst: Fertilizer Shock and Agricultural Repricing To understand the current shift, it helps to simplify the mechanism. When fertilizer becomes more expensive or less available, farmers respond rationally. They adjust crop selection toward those that require fewer inputs. In practice, this often means a relative shift toward soybeans, which are less fertilizer-intensive than crops like corn and wheat. 1 This seemingly innocuous move then introduces new imbalances. As more acreage shifts toward soybeans, the supply outlook for corn and wheat becomes more constrained. Even if dem...
grdenis/iStock via Getty Images In September last year I had recommended a strong buy for Verizon Communications ( VZ ). I was honestly looking for value and defensive stocks at that time, expecting some cooling in growth markets. I had positioned Verizon as an income-first vehicle, with a supportive regime ahead for share prices. Any rerating-led upside was optional for me. Verizon has lived up t...
grdenis/iStock via Getty Images In September last year I had recommended a strong buy for Verizon Communications ( VZ ). I was honestly looking for value and defensive stocks at that time, expecting some cooling in growth markets. I had positioned Verizon as an income-first vehicle, with a supportive regime ahead for share prices. Any rerating-led upside was optional for me. Verizon has lived up to that expectation very well with a total return of almost 9% since my Strong Buy call, at a time when the broader markets moved by only ~5%. Data by YCharts Verizon's strength in choppy markets toward the end of 2025 and in 2026 was very much visible (likely helped by some rotation away from growth into value/defensive names). At some point the rerating had pushed price appreciation alone to well above double digit returns, although recent corrections have coincided with a recent rebound in growth stocks (following some de-escalation signs in the Middle East). Even after the round trip, share prices are still up by 2-3% since the time of my earlier thesis, while income has again done the heavy lifting as expected. Verizon continues to grind its way, outperforming the markets, and I expect more of the same as the upcoming quarters see the broader markets consolidate at best as AI trades cool further (earnings grow into valuations, no further immediate rerating till capex cycles and AI economics become clear enough to bet on long duration assumptions, and stagflation risks are watched closely). However, total returns are not part of my thesis - it is not what Verizon is designed for. I continue to look at it as an income vehicle - share price appreciation is optional; support here is sufficient to keep the income-led Strong Buy alive. A review of numbers and what is happening structurally at Verizon reveals that valuations remain stuck at ~9x forward earnings (no rerating yet). Free cash flow has stayed strong and looks good ahead. A strong buyback outlook looks supportive f...
Exit of former Newsnight editor after eight years comes after appointment of new chief executive Priya Dogra Channel 4’s content chief, Ian Katz, who holds responsibility for the broadcaster’s £650m annual programming budget and output, is to leave after almost nine years in the post. Katz, a former senior executive at the Guardian, became the channel’s director of programmes in January 2018, havi...
Exit of former Newsnight editor after eight years comes after appointment of new chief executive Priya Dogra Channel 4’s content chief, Ian Katz, who holds responsibility for the broadcaster’s £650m annual programming budget and output, is to leave after almost nine years in the post. Katz, a former senior executive at the Guardian, became the channel’s director of programmes in January 2018, having moved from being the editor of BBC’s Newsnight. Continue reading...
Anthropic said Thursday it's expanding its presence in London with new office space for 800 people, days after rival OpenAI unveiled plans for its first permanent office in the U.K. capital. The maker of the Claude AI chatbot currently has more than 200 people based in London, the company said in a statement. "London is already one of our most important research and commercial hubs outside the US,...
Anthropic said Thursday it's expanding its presence in London with new office space for 800 people, days after rival OpenAI unveiled plans for its first permanent office in the U.K. capital. The maker of the Claude AI chatbot currently has more than 200 people based in London, the company said in a statement. "London is already one of our most important research and commercial hubs outside the US, and our expansion in the Knowledge Quarter gives us the room to grow into," Pip White, Anthropic's head of EMEA north, said in a statement. "The UK combines ambitious enterprises and institutions that understand what's at stake with AI safety with an exceptional pool of AI talent — we want to be where all of that comes together." Anthropic's new office space will be located in the Knowledge Quarter area of London, home to a slew of AI companies including OpenAI, Google DeepMind, Meta , Synthesia and Wayve. The announcement follows a reported campaign to court Anthropic by U.K. officials, after the company's spat with the U.S. Pentagon over the use of its AI models. Anthropic has been gaining momentum recently, releasing its viral coding agent, Claude Code, alongside its Mythos AI model , which excels at identifying weaknesses and security flaws within software. The company most recently raised $30 billion at a $380 billion valuation in February and has fielded VC offer to invest at an $800 billion valuation , according to reports. Its annual run-rate revenue has surpassed $30 billion, with more than 1,000 businesses each spending over $1 million annually. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.