Klose led NPR for a decade starting in 1998, a period of incredible growth for the public media network. (Image credit: Jacques Coughlin/Jacques Coughlin)
Klose led NPR for a decade starting in 1998, a period of incredible growth for the public media network. (Image credit: Jacques Coughlin/Jacques Coughlin)
European Union regulators have threatened to force WhatsApp parent Meta Platforms to reverse a move that they say effectively limits the AI chatbots of rival companies from accessing the messaging app. Meta's attempt to resolve the bloc’s antitrust investigation of WhatsApp by charging third-party AI companies for access is unsatisfactory, the European Commission said Wednesday.
European Union regulators have threatened to force WhatsApp parent Meta Platforms to reverse a move that they say effectively limits the AI chatbots of rival companies from accessing the messaging app. Meta's attempt to resolve the bloc’s antitrust investigation of WhatsApp by charging third-party AI companies for access is unsatisfactory, the European Commission said Wednesday.
Vladislav Stepanov/iStock via Getty Images In the wake of BRP’s ( DOO ) decision to pull FY27 guidance due to changes in tariff costs on powersport products, shares within the sector are trading defensively. The maker of Sea-Doo jet skis, Lynx snowmobiles, and Can-Am all-terrain vehicles warned that the recent amendment of Section 232 tariffs on steel, aluminum, and copper imports into the U.S. wi...
Vladislav Stepanov/iStock via Getty Images In the wake of BRP’s ( DOO ) decision to pull FY27 guidance due to changes in tariff costs on powersport products, shares within the sector are trading defensively. The maker of Sea-Doo jet skis, Lynx snowmobiles, and Can-Am all-terrain vehicles warned that the recent amendment of Section 232 tariffs on steel, aluminum, and copper imports into the U.S. will result in an incremental tariff cost of $500M for the remainder of 2026 before any mitigation efforts. This led the company to suspend guidance for 2027. "Like many manufacturers, we are operating in a highly volatile and unpredictable tariff environment that continues to create uncertainty across the market," said Denis Le Vot, President and CEO of BRP. The change in Section 232 now means BRP ( DOO ) will now pay a 25% tariff on the total value of the imported vehicle rather than a 50% tariff on applicable metal content only. BRP ( DOO ) manufactures a majority of its products in Mexico, Canada, and Finland, with Rotax engines manufactured in Austria through a joint venture between BRP and Rotax GmbH & Co KG. Only the aluminum casings for its vehicles are made in the U.S. This development is weighing on peers, with shares of Polaris ( PII ) suffering its largest one-day percentage decline in a year, with notable losses for Patrick Industries ( PATK ), Malibu Boats ( MBUU ), and Twin Vee Power Cats ( VEEE ). More on Polaris, BRP Inc. Polaris: Not Attractive Enough Yet BRP Inc. (DOO:CA) Q4 2026 Earnings Call Transcript BRP Inc. 2026 Q4 - Results - Earnings Call Presentation BRP suspends FY27 guidance; new U.S. tariffs signal $500M+ profit headwind BRP Non-GAAP EPS of C$2.21, revenue of C$2.46B; gives Q1 and FY27 outlook
watch now VIDEO 5:56 05:56 UK’s Rachel Reeves on Iran war: ‘Not convinced that this conflict has made the world a safer place’ News Videos U.K. Finance Minister Rachel Reeves on Wednesday called for an immediate de-escalation of the war in the Middle East, and sharply criticized the U.S. administration's handling of it. Speaking to CNBC's Sara Eisen at the Invest In America Forum in Washington, D....
watch now VIDEO 5:56 05:56 UK’s Rachel Reeves on Iran war: ‘Not convinced that this conflict has made the world a safer place’ News Videos U.K. Finance Minister Rachel Reeves on Wednesday called for an immediate de-escalation of the war in the Middle East, and sharply criticized the U.S. administration's handling of it. Speaking to CNBC's Sara Eisen at the Invest In America Forum in Washington, D.C., Reeves warned of mounting risks to global economic stability caused by the closure of the Strait of Hormuz. The U.K. chancellor lambasted the Trump administration's handling of the conflict, saying that the aims of the war were "not clear," and had shifted between regime change, protecting partners in the region, and stopping Tehran's nuclear program. "I'm not convinced this conflict has made the world a safer place," Reeves said. "It's not been clear over the last six weeks what exactly the aim of this conflict is." She said the U.K. still has a "very good relationship" with the U.S., but added: "We don't always have to agree on everything." She said there has been a lot of long-term damage done to oil and gas facilities in the Middle East. "Even if this conflict does come to an end tomorrow, there are longer-term impacts," she added. "Damage has been done." On Wednesday, the IMF said the U.K. — which is a net importer of gas — will see the biggest hit to growth out of all the world's richest economies as a result of the Iran war. Reeves, who is in Washington to attend the IMF-World Bank spring meeting, expressed confidence that the U.K. can beat that forecast. She said the U.K.'s growth will be higher and inflation will be lower if this conflict comes to an end, "and that can only happen through de-escalation." "The best economic policy, not just for the U.K. but globally, is de-escalation and the reopening of the Strait of Hormuz," she said, reiterating "loud and clear" her call for a return to diplomatic negotiations that had been taking place before hostilities beg...
The dollar index (DXY00 ) today is up by +0.02%. The dollar is little changed today, awaiting fresh news on US-Iran peace talks. The dollar found some support today from hawkish comments from Cleveland Fed President Beth Hammack, who said her baseline is that the Fed is on hold for...
The dollar index (DXY00 ) today is up by +0.02%. The dollar is little changed today, awaiting fresh news on US-Iran peace talks. The dollar found some support today from hawkish comments from Cleveland Fed President Beth Hammack, who said her baseline is that the Fed is on hold for...
Following Charlie Munger and Warren Buffett’s injunctions to do so, I try to make the concept of “opportunity cost” central to my investment decision-making. One aspect of this is to think about what the default option is against which to measure any potential investment opportunity. In general, for me, there are basically two choices for a default opportunity cost yardstick – short-term treasurie...
Following Charlie Munger and Warren Buffett’s injunctions to do so, I try to make the concept of “opportunity cost” central to my investment decision-making. One aspect of this is to think about what the default option is against which to measure any potential investment opportunity. In general, for me, there are basically two choices for a default opportunity cost yardstick – short-term treasuries or an S&P 500 index fund. Since about October of last year, my default against which to measure potential investments was short-term treasuries, simply because I saw risks in equity markets as being too high. (I wrote extensively on this here .) However, in recent weeks, with what looks to be the bottoming of the S&P 500 in response to scares around the US-Israel-Iran conflict, I’ve begun to reassess this. I was lucky enough to sell out of my NVDA puts and S&P 500 short position (through SPDN) around the market bottom (March 27 th and March 31 st , respectively), and I’ve been able to participate in some of the upside as the market has rebounded. This sort of flexibility of approach is the kind of thinking I think it’s crucial for investors to exhibit as conditions evolve and change over time. In this article, I’m going to discuss why I think the backdrop has shifted and why I think the S&P 500 index should, once again, be the default measure of opportunity cost for investors. Laying the Groundwork Buffett has said, on numerous occasions, how, in his view, cash is a horrible investment option. And this is for all sorts of reasons, one would think – no retention of purchasing power over time, no productive capacity, fiat currency concerns, etc. However, in times perceived to have high risk, cash does, of course, offer downside protection and potential “dry powder” in the event of a market downturn. However, because of the downsides of cash (or short-term treasuries) as an investment option, one should only very rarely view cash as a good default opportunity cost against wh...
The US and Iran have an “in principle agreement” to pursue further diplomacy and restart negotiations about a longer-term peace deal, the Associated Press reported. But traffic through the Strait of Hormuz remains severely constrained, and President Donald Trump’s bid to block Iran from using it is angering China. Trump stirred tentative market hopes for a resolution to the conflict yesterday, cla...
The US and Iran have an “in principle agreement” to pursue further diplomacy and restart negotiations about a longer-term peace deal, the Associated Press reported. But traffic through the Strait of Hormuz remains severely constrained, and President Donald Trump’s bid to block Iran from using it is angering China. Trump stirred tentative market hopes for a resolution to the conflict yesterday, claiming the near seven-week war is “close to over.” A senior Iranian military official, however, said a prolonged US blockade of Hormuz would be “a prelude to a breach of the ceasefire.” Shipping through Hormuz remains far below peacetime levels. Ship-tracking data Bloomberg has compiled show only 11 commercial ships were observed sailing through the strait yesterday. Last year, transits averaged 135 a day. The US blockade prevents Iranian oil from reaching China , a major customer, and raises the risk of a confrontation between Chinese-aligned vessels and American Navy ships. China’s Foreign Ministry in Beijing blasted the US president’s naval blockade imposed this week as “dangerous and irresponsible.” Trump is scheduled to meet Chinese President Xi Jinping next month in Beijing in the first visit to the nation by a US president since 2017. — Philip Lagerkranser What You Need to Know Today Trump has said again that he would fire Jerome Powell if the Fed chair does not step down “in time,” though it’s unclear he has the legal power to do so without sufficient cause. Powell, whose stint leading the central bank ends in May but whose term on Board of Governors runs until 2028, has said he’d serve as chair pro tempore unless his successor is confirmed by May. Trump, who blames Powell for being too slow in cutting interest rates , also said he would not drop the Justice Department investigation into the central bank leader. The Iran war is hammering luxury-goods makers, with Hermès joining Kering and LVMH in reporting weak first-quarter sales. Hermès shares sank today after it s...
In the latest installment of Yahoo Finance's ETF Report, VettaFi investment strategist Cinthia Murphy sits down with Jared Blikre to discuss the investment opportunities across various tech sectors, equal-weighted ETFs, and space economy-related funds.
In the latest installment of Yahoo Finance's ETF Report, VettaFi investment strategist Cinthia Murphy sits down with Jared Blikre to discuss the investment opportunities across various tech sectors, equal-weighted ETFs, and space economy-related funds.
Foggy, Foggy War By Michael Every of Rabobank With US stocks up, the Nasdaq with its longest winning streak since 2021, and screen oil down for a second day in a row, markets continue to price the starkly binary physical outcomes smack in front of us on the side that’s full of stardust. The IMF just warned of a potential world recession ahead if Hormuz stays shut. Its latest three global growth sc...
Foggy, Foggy War By Michael Every of Rabobank With US stocks up, the Nasdaq with its longest winning streak since 2021, and screen oil down for a second day in a row, markets continue to price the starkly binary physical outcomes smack in front of us on the side that’s full of stardust. The IMF just warned of a potential world recession ahead if Hormuz stays shut. Its latest three global growth scenarios are ‘ weaker ’, ‘ worse ’ and ‘ severe ’ - “because markets”, and politics, the Fund chose the most benign as its base case, even as “downside risks are clearly very elevated.” That’s as Spain, for example, just released 4 of their 90 days of strategic oil reserves, with another 8 to follow. While that leaves 78, even if Hormuz reopened tomorrow, it would take at least 60 and possibly as many as 150 days before normal oil flows could be restored, according to IEA. Imagine driving home in a convoy through a blazing desert in an air-conditioned car knowing you all have 50 miles of fuel in the tank, and the next station is 30 miles away… and then hearing on the radio that it could be shut, and the following one is at least 60 miles away. That’s where much of the world economy stands now – and markets are opting to pump up the radio and aircon and say, ‘ The next station will be open and I want a slushy.’ Most governments are doing the kind of pumping oil wells aren’t : Brussels is pitching a “ state subsidy bonanza ” to combat the energy shock which “goes much further than the current state aid rules.” Canada’s PM Carney, who ran two central banks, has suspended federal taxes on gasoline and diesel. Australian Treasurer Chalmers has introduced a 20-year retrospective capital gains tax on mining, energy and infrastructure . Malaysia is to increase its biofuel mandate. Provided the war ends soon, those kinds of policies could cushion the economy: but across all schools of economic thought, textbooks are clear about what demand-side boosts into structural supply-side shoc...
A simmering war of words between the US and the UK ratcheted up today with President Donald Trump warning he could rip up a trade deal the longtime allies inked last year and complaining about Britain’s domestic policies. “We gave them a good trade deal. Better than I had to. Which can always be changed,” Trump told Sky News. He also criticized the UK’s policies on energy and immigration. To be fa...
A simmering war of words between the US and the UK ratcheted up today with President Donald Trump warning he could rip up a trade deal the longtime allies inked last year and complaining about Britain’s domestic policies. “We gave them a good trade deal. Better than I had to. Which can always be changed,” Trump told Sky News. He also criticized the UK’s policies on energy and immigration. To be fair, the writing was on the wall after Prime Minister Keir Starmer and Chancellor Rachel Reeves’s criticisms of Trump’s strategy on Iran in recent days. The US reneging on the preferential trade deal, hailed as one of Starmer’s key achievements on the international front, would add to Britain’s war woes. The country will suffer the biggest economic shock among the G-7, the International Monetary Fund predicted, mainly because of a reliance on energy imports. Reeves used her strongest language yet to criticize the war this week. “I do feel very frustrated and angry that the US went into this war without a clear exit plan,” the chancellor told the Mirror tabloid en route to IMF meetings in Washington. Reeves is scheduled to speak with US Treasury Secretary Scott Bessent, who set the tone for the meeting in an interview with the BBC. “I wonder what the hit to global GDP would be if a nuclear weapon hit London,” Bessent said. Still, the UK isn’t the only US ally left out in the cold as the Trump administration works to resolve a conflict it created. The US has offered a diplomatic version of the silent treatment to many European partners, refusing to loop them in about its plans for the war and progress in peace negotiations, my colleagues report . Vice President JD Vance even took on Pope Leo XIV after he said in a social media post last week that “anyone who is a disciple of Christ, the Prince of Peace, is never on the side of those who once wielded the sword and today drop bombs.” The pontiff’s remarks were not based in theological truth and he should be “careful” with his wo...
Solskin/DigitalVision via Getty Images Thesis Simulations Plus, Inc. ( SLP ) is a specialized company that makes software used to simulate (hence, the moniker via biosimulation ) and predict how drugs will behave during development. The last time I reviewed it, I gave it a Hold rating. This was because the company’s revenue was growing strongly, but its profit margins were shrinking and its cash f...
Solskin/DigitalVision via Getty Images Thesis Simulations Plus, Inc. ( SLP ) is a specialized company that makes software used to simulate (hence, the moniker via biosimulation ) and predict how drugs will behave during development. The last time I reviewed it, I gave it a Hold rating. This was because the company’s revenue was growing strongly, but its profit margins were shrinking and its cash flow was getting weaker, making it unclear to me how profitable it would be in the near future. Seeking Alpha In retrospect, since my call, which probably should have been a sell rating, the stock’s been pummeled. Even so, after reviewing the fresh Q2 2026 earnings , I’m still leaning neutral on the stock because the business is improving, just not enough to justify betting on a clean reacceleration yet, and therefore, no upgrade. My Breakdown of Simulations Plus Q2 2026 Seeking Alpha Revenue: $24.3M (+8% YoY) Software revenue growth: +9% Services revenue growth: +8% Services backlog: $24M (+18% YoY). Revenue went up thanks to both sides of the business, software and services, but the real story is why it went up. According to management, the overall spending environment seems to be improving. More of its customers are renewing their contracts on a more consistent basis, and they also have more first-time customers coming in for services. The services area is also booking more work. The pharmaceutical and biotechnology industries are also returning to normalcy. With growing investor interest, the flow of funds into biotechs appears to be picking back up. Companies involved in drug development are also experiencing increased demand. Additionally, the FDA has been increasingly willing to accept alternative methods in early-stage (preclinical) research as part of its evaluation process. Taking everything into account, it looks like customers are regaining confidence. They’re starting to dust off old projects and spend on software again, particularly when it sits close to core r...
JHVEPhoto/iStock Editorial via Getty Images Less than three months after publishing my previous coverage, National Bank of Canada ( NTIOF ) remains stubbornly bullish despite my cautious stance. I understand the optimistic sentiments that led to nearly 20% returns considering its robust performance and fundamentals. However, valuation warrants more caution as the recent rally highlighted its expen...
JHVEPhoto/iStock Editorial via Getty Images Less than three months after publishing my previous coverage, National Bank of Canada ( NTIOF ) remains stubbornly bullish despite my cautious stance. I understand the optimistic sentiments that led to nearly 20% returns considering its robust performance and fundamentals. However, valuation warrants more caution as the recent rally highlighted its expensiveness further. Macroeconomic volatility must also be considered, which may pose downside risks to the stock. Technicals adhere to it, as overbuying and early bearish divergence signals suggest a hold rating today. National Bank of Canada: Stability Amid Macroeconomic Volatility Macroeconomic uncertainty persists despite the efforts of the US and Canadian central banks to stabilize higher prices while boosting economic activity. Stubborn inflation and new tariffs have been some challenges in their economies. And recently, geopolitical tensions that have led to skyrocketing oil prices are expected to fuel inflation. Even a big Canadian bank like the National Bank of Canada is subject to potential risks due to its high cyclicality and macroeconomic sensitivity. Even so, its well-diversified assets and disciplined lending strategies allow it to protect its overall operations. This is evident in its most recent performance. Before I proceed, I’d like to highlight that all values in this article will be in CAD. In Q1 2026, its interest income amounted to $5.45B , up by 7.8% YoY from $5.05B. This YoY growth was slightly higher than in my previous coverage at 7.6%, showing its sustained growth. In my view, this was a bit impressive considering the policy easing cycle in H2 2025 that could have lowered the yields of its interest-earning assets. This trend was also opposite to the Canadian Big Five banks, which suffered from lower loan and investment yields. I think this should not be surprising considering that it has a low exposure to the US. Note that the Fed cut the interest r...
Allbirds had a hit a decade ago with its Wool Runner shoes, but after a $4 billion IPO in 2021, the business never turned a profit, and sales dropped nearly 50 percent between 2022 and 2025. The company recently announced it would sell off its name and assets for $39 million to American Exchange after closing the remaining stores. That shell listing, however, still has some use as the Financial Ti...
Allbirds had a hit a decade ago with its Wool Runner shoes, but after a $4 billion IPO in 2021, the business never turned a profit, and sales dropped nearly 50 percent between 2022 and 2025. The company recently announced it would sell off its name and assets for $39 million to American Exchange after closing the remaining stores. That shell listing, however, still has some use as the Financial Times points out, and now CEO Joe Vernachio has announced a plan to raise $50 million from an unnamed investor, which will turn NewBird AI into "a fully integrated GPU-as-a-Service (GPUaaS) and AI-native cloud solutions provider." NewBird AI expects … Read the full story at The Verge.
Monty Rakusen Applied Digital ( APLD ) recently restructured its leases with CoreWeave ( CRWV ) for its North Dakota data centers, which investment firm Needham said should lower the company's cost of capital. “The net effect is that APLD's lenders are now underwritten by IG-rated credit rather than CRWV's BB-rated parent, which should translate to a lower cost of capital on APLD's project-level d...
Monty Rakusen Applied Digital ( APLD ) recently restructured its leases with CoreWeave ( CRWV ) for its North Dakota data centers, which investment firm Needham said should lower the company's cost of capital. “The net effect is that APLD's lenders are now underwritten by IG-rated credit rather than CRWV's BB-rated parent, which should translate to a lower cost of capital on APLD's project-level debt over time,” Needham analysts wrote in a note to clients. “A similar dynamic could apply to CORZ. We believe the credit rating reports indicate that CORZ's Dalton site will be supporting Meta workloads through CRWV. To the extent the ultimate compute off-taker behind some of CORZ's CRWV-leased capacity is an IG-rated entity like Meta or Anthropic (i.e., if backed by Amazon, Google), CORZ may not simply be taking on naked CRWV credit risk, which could open the door to more favorable financing terms.” Needham has a Buy rating on Applied Digital and a Hold rating on CoreWeave. It also has a Buy rating on Core Scientific ( CORZ ). More on Applied Digital and CoreWeave CoreWeave: Hypergrowth Is Here, But The Cash Cost Is Massive (Downgrade) CoreWeave: The Hypergrowth AI Infrastructure Play Built For Aggressive Investors CoreWeave: The Best Way To Play The Data Center Boom CoreWeave added as a new long at Hedgeye CoreWeave lands $6B deal to provide Jane Street with AI cloud services