Good morning . Trump threatens a Hormuz blockade after US-Iran talks fail. Japan is pouring $16 billion into Rapidus for the AI chip race. And Apple is preparing AI glasses to rival Meta’s. Listen to the day’s top stories . Donald Trump said the US will begin a full naval blockade of the Strait of Hormuz—set to begin at 10 a.m. Washington time Monday—after talks with Iran in Islamabad ended withou...
Good morning . Trump threatens a Hormuz blockade after US-Iran talks fail. Japan is pouring $16 billion into Rapidus for the AI chip race. And Apple is preparing AI glasses to rival Meta’s. Listen to the day’s top stories . Donald Trump said the US will begin a full naval blockade of the Strait of Hormuz—set to begin at 10 a.m. Washington time Monday—after talks with Iran in Islamabad ended without progress on issues including Tehran’s nuclear program and control of the waterway. Iran’s president told Vladimir Putin the country is “fully prepared” for a fair deal. Two oil tankers aborted transits through Hormuz as negotiations broke down, a move that may lift crude prices and spur broader risk-off sentiment . Big Take: How Hormuz Closure Is Choking Supply Chains (Podcast) China announced a series of policy measures to show “goodwill” toward Taiwan after a meeting between President Xi Jinping and Taiwan opposition leader Cheng Li-wun. The steps include facilitating the sales of Taiwan’s agricultural and fishery products and investment into mainland China, as well as promoting travel to the island, according to a statement released by Xinhua. Reserve Bank of India Deputy Governor T. Rabi Sankar criticized banks for aggravating the rupee’s weakness through arbitrage trades between local and offshore markets. The central bank recently capped currency bets by banks at $100 million each, forcing them to unwind about $30 billion in trades. Amid mounting pressure from the Middle East conflict, India also more than doubled export duties on diesel to 55.5 rupees ($0.60) per liter from 21.5 rupees. Philippines Asks Facebook to Curb Fake News, Warns of Legal Move Read more Earnings season begins against a backdrop of Mideast tensions, inflation fears and AI disruption. Investors are focused on corporate outlooks , with modest growth expectations. Goldman Sachs kicks off bank results Monday with Wall Street off to the worst start to a year since the US regional banking crisis. T...
Midfielder expected to earn £120,000 a week New deal marks turnaround for Mainoo under Carrick Michael Carrick has indicated Kobbie Mainoo is moving closer to signing a new contract with Manchester United, saying negotiations are “in a good place”. The 20-year-old, whose deal expires in the summer of 2027, is expected to earn about £120,000 a week, a marked increase on his current terms, which are...
Midfielder expected to earn £120,000 a week New deal marks turnaround for Mainoo under Carrick Michael Carrick has indicated Kobbie Mainoo is moving closer to signing a new contract with Manchester United, saying negotiations are “in a good place”. The 20-year-old, whose deal expires in the summer of 2027, is expected to earn about £120,000 a week, a marked increase on his current terms, which are in the region of £25,000 a week. “It’s getting closer, so we’re positive about that,” said Carrick. “We’re calm with it, but we’re positive with it and time will tell how it goes. But at the moment, we are in a good place.” Continue reading...
Campaigners welcome first update of school food standards in 13 years, which aims to help lower obesity rates The government is to announce an overhaul to school food standards in England that will lead to calorific classics such as fish and chips and steamed sponges being banned. The new rules of the first major update to school food standards in 13 years will apply from September. They are part ...
Campaigners welcome first update of school food standards in 13 years, which aims to help lower obesity rates The government is to announce an overhaul to school food standards in England that will lead to calorific classics such as fish and chips and steamed sponges being banned. The new rules of the first major update to school food standards in 13 years will apply from September. They are part of efforts to lower the rates of childhood obesity, with data for 2024 released by the NHS in January showing that 24% of nursery and primary school children were overweight or living with obesity. Continue reading...
Hong Kong Chief Executive John Lee Ka-chiu visited one of the schools offering free after-school care for low-income families last month. After receiving positive feedback from participants, he pledged to extend the programme to benefit more families. Lee said it had helped promote family harmony, with children also reporting “positive development in both academic and social aspects”. There’s litt...
Hong Kong Chief Executive John Lee Ka-chiu visited one of the schools offering free after-school care for low-income families last month. After receiving positive feedback from participants, he pledged to extend the programme to benefit more families. Lee said it had helped promote family harmony, with children also reporting “positive development in both academic and social aspects”. There’s little doubt we should celebrate victories, however small, but it is equally important to examine...
"Create A Crisis": American Association Of University Professors Sponsors Anti-ICE Campaign Authored by Jonathan Turley, “Create a crisis.” That call is made in a new campaign sponsored by the American Association of University Professors to force “colleges to drop their contracts with ICE’s key corporate enablers.” Despite years of criticism over the purging of faculty ranks of conservatives and ...
"Create A Crisis": American Association Of University Professors Sponsors Anti-ICE Campaign Authored by Jonathan Turley, “Create a crisis.” That call is made in a new campaign sponsored by the American Association of University Professors to force “colleges to drop their contracts with ICE’s key corporate enablers.” Despite years of criticism over the purging of faculty ranks of conservatives and libertarians, university professors continue to double down on far-left ideology that is now an orthodoxy in higher education. I previously wrote about the AAUP’s ideological shift in my book, The Indispensable Right: Free Speech in an Age of Rage . After that book, the AAUP then selected Todd Wolfson , a far-left activist, as its new president. Wolfson ran on the pledge to make AAUP a “fighting organization” for social change. After his selection, Wolfson has called Trump supporters “fascists” and demanded boycotts of Israel. Given that history, it was little surprise to see the AAUP’s sponsorship of this campaign, as reported by the College Fix. The campaign is also funded by Coefficient Giving, associated with liberal billionaire Dustin Moskovitz and his wife Cari Tuna. They have been criticized for reportedly funding groups pushing defund police and other radical agendas. AAUP joined this campaign with Young Democratic Socialists of America, Sunrise Movement, and the Workplace Justice Lab at Rutgers University. It includes a toolkit instructing students to “create a crisis for university admin through an escalating campaign.” The campaign seeks to organize to combat the “Trump regime” and its “terrorism”: “When students and workers join together in action, we can force our schools to stop funding and normalizing ICE collaborators and take down the whole regime.” They are targeting companies such as Enterprise, Flock, ICE Air Carriers, Hilton, and Target. The campaign states further that “ICE, and the Trump regime generally, cannot function without the consent and collab...
Manchester City capitalise on Arsenal's latest slip-up in style - and now Pep Guardiola's side must be feared as the Premier League title race hots up.
Manchester City capitalise on Arsenal's latest slip-up in style - and now Pep Guardiola's side must be feared as the Premier League title race hots up.
At least 200 people are feared dead after Nigerian military planes struck a village market while pursuing Islamist militants in the northeast of the country on Saturday night, a councillor for the area and residents said on Sunday. Nigeria’s Air Force said it had killed Boko Haram militants in the Jilli axis in Borno state, but in a statement released to Reuters on Sunday it did not mention hitt...
At least 200 people are feared dead after Nigerian military planes struck a village market while pursuing Islamist militants in the northeast of the country on Saturday night, a councillor for the area and residents said on Sunday. Nigeria’s Air Force said it had killed Boko Haram militants in the Jilli axis in Borno state, but in a statement released to Reuters on Sunday it did not mention hitting a market. It did not respond to further requests for comment. The government of the neighbouring...
The Nasdaq-100 index typically outperforms more diversified indexes like the S&P 500 (SNPINDEX: ^GSPC) because around 60% of its portfolio is parked in high-growth technology stocks. But that can be a double-edged sword, because the Nasdaq recently fell by as much as 12% from its all-time high during the broad market sell-off, while the S&P declined by a lesser 9%. Many investors have trimmed thei...
The Nasdaq-100 index typically outperforms more diversified indexes like the S&P 500 (SNPINDEX: ^GSPC) because around 60% of its portfolio is parked in high-growth technology stocks. But that can be a double-edged sword, because the Nasdaq recently fell by as much as 12% from its all-time high during the broad market sell-off, while the S&P declined by a lesser 9%. Many investors have trimmed their stock exposure amid rising economic uncertainty, partly driven by ongoing geopolitical tensions in the Middle East that have sent oil prices soaring. But looking back throughout history, market sell-offs have almost always been spectacular buying opportunities, especially for the high-growth technology sector, which tends to bounce back with blistering returns. The Vanguard Information Technology ETF (NYSEMKT: VGT) is an exchange-traded fund (ETF) that invests exclusively in the information technology sector. Could it be the ultimate long-term buy during the Nasdaq-100 correction? Continue reading
U.S. Central Command posted Sunday that it will begin enforcing a maritime blockade on all traffic entering and exiting Iranian ports starting Monday, April 13 at 10 a.m. ET, following a presidential directive. The blockade will apply to vessels of all nations traveling to or from Iranian ports and coastal areas, including those along the Arabian Gulf and Gulf of Oman. CENTCOM said the measures wi...
U.S. Central Command posted Sunday that it will begin enforcing a maritime blockade on all traffic entering and exiting Iranian ports starting Monday, April 13 at 10 a.m. ET, following a presidential directive. The blockade will apply to vessels of all nations traveling to or from Iranian ports and coastal areas, including those along the Arabian Gulf and Gulf of Oman. CENTCOM said the measures will be implemented impartially. U.S. forces will not restrict freedom of navigation through the Strait of Hormuz for vessels transiting to or from non-Iranian ports, it added. CENTCOM said additional guidance will be issued to commercial shipping through formal notices ahead of the blockade’s start. Mariners operating in the region have been advised to monitor official broadcasts and maintain contact with U.S. naval forces. The move marks a significant escalation in U.S. actions targeting Iran’s maritime activity, with potential implications for regional shipping and energy markets. Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on oil Commodities: Oil Supported By Ongoing Supply Risks Commodities: Hormuz Remains Blocked For Now 14-Day Ceasefire With Iran: Sell Oil And Buy Oil Companies Trump says fuel prices may stay elevated as Iran conflict weighs on economy Oil shock rekindles 1970s fears, but today’s economy is better prepared
Fonterra Cooperative Group promoted Richard Allen to chief executive officer as it completes the sale of its consumer business and refocuses on producing high-value ingredients from New Zealand milk. Allen, who has been at the group since 2008, takes the helm of the world’s biggest dairy exporter on May 1, Auckland-based Fonterra said Monday. He replaces Miles Hurrell , who last month announced hi...
Fonterra Cooperative Group promoted Richard Allen to chief executive officer as it completes the sale of its consumer business and refocuses on producing high-value ingredients from New Zealand milk. Allen, who has been at the group since 2008, takes the helm of the world’s biggest dairy exporter on May 1, Auckland-based Fonterra said Monday. He replaces Miles Hurrell , who last month announced his intention to step down after eight years in the role. Hurrell will remain with the group as an adviser until September to assist with leadership transition. Read more: Fonterra Cooperative Group CEO Miles Hurrell to Step Down Allen is currently president of Fonterra’s global ingredients arm, responsible for sales, risk management, trading and global manufacturing within that division. As such he brings a deep knowledge of Fonterra’s global operations and markets as well as connections with customers, Chair Peter McBride said in a statement. “I’ve built my career with Fonterra and understand the important role the cooperative plays both for farmers here in New Zealand and our customers around the world,” Allen said. “I’m committed to maintaining the momentum in our performance, focused delivery of strategy and financial discipline that has been developed over recent years.” Fonterra sold the consumer unit Mainland to French dairy company Lactalis , leaving it with ingredients and foodservice units.