Trump Asks Congress To Pass Clean Reauthorization Of FISA Spy Powers Authored by Joseph Lord and Nathan Worcester via The Epoch Times, President Donald Trump asked Congress this week to pass a clean reauthorization of a critical—but controversial—spying authority as the U.S. military operation in Iran continues. “I have called for a clean 18-month extension,” Trump wrote in a post on Truth Social,...
Trump Asks Congress To Pass Clean Reauthorization Of FISA Spy Powers Authored by Joseph Lord and Nathan Worcester via The Epoch Times, President Donald Trump asked Congress this week to pass a clean reauthorization of a critical—but controversial—spying authority as the U.S. military operation in Iran continues. “I have called for a clean 18-month extension,” Trump wrote in a post on Truth Social, noting that Senate Majority Leader John Thune (R-S.D.) and House Speaker Mike Johnson (R-La.) are working toward passing such a bill. Specifically, Trump is asking Congress to extend the authorities in Section 702 of the Foreign Intelligence Surveillance Act (FISA), a sweeping War on Terror-era spying authority that has seen wide abuse by federal intelligence agencies in the past. Section 702 targets intelligence from foreign nationals thought to be outside the United States. Yet, it also enables intelligence agencies to gather information from Americans who are in contact with targeted non-U.S. persons—all without a warrant. The controversial authority was at the center of National Security Agency whistleblower Edward Snowden’s 2014 disclosures. Although intelligence officials must obtain a warrant to access Americans’ data, Section 702 has long caused bipartisan discomfort on Capitol Hill and beyond. Trump noted in the post that he himself had been on the receiving end of what he described as “the worst and most illegal abuse of FISA in our Nation’s History,” referencing disclosures that revealed that the FBI had used Section 702 of FISA to spy on Trump’s 2016 presidential campaign as part of the Crossfire Hurricane operation. Nevertheless, Trump said, “When used properly, FISA is an effective tool to keep Americans safe." “For these reasons, I have called for a clean 18-month extension, HOWEVER, the Critical and Common Sense Reforms that were made in the last Reauthorization of FISA must remain intact to protect the American People from abuses.” In an extension of the a...
In this video, I will discuss recent news about Meta, Micron (NASDAQ: MU), Amazon, and Alphabet. Watch the short video to learn more, consider subscribing, and click the special offer link below.
In this video, I will discuss recent news about Meta, Micron (NASDAQ: MU), Amazon, and Alphabet. Watch the short video to learn more, consider subscribing, and click the special offer link below.
Abstract Aerial Art/DigitalVision via Getty Images I mark a Hold rating to i-80 Gold Corp. ( IAUX ) stock under a strict risk/reward state. On the reward side, i-80 Gold holds a tier-one geological portfolio and the irreplaceable Lone Tree Autoclave that is making it an apex asset in Nevada. However, on the risk side, IAUX stock price upside is capped by a large capital structure ( 841 million bas...
Abstract Aerial Art/DigitalVision via Getty Images I mark a Hold rating to i-80 Gold Corp. ( IAUX ) stock under a strict risk/reward state. On the reward side, i-80 Gold holds a tier-one geological portfolio and the irreplaceable Lone Tree Autoclave that is making it an apex asset in Nevada. However, on the risk side, IAUX stock price upside is capped by a large capital structure ( 841 million base shares + massive derivative/convertible overhangs) and heavy forward margin loads (3% NSR and 15% prepay deliveries). All in all, the $1 billion recapitalization guarantees survival but transfers huge value to creditors. For my Hold on i-80 Gold stock thesis, downside risks include execution failure on the $430 million autoclave refurbishment and hydrological delays at Granite Creek. Boost Up from the Nevada Bottleneck and Accelerated NPV In my opinion, i-80 Gold’s forward bullish trend is mostly based on its shift from a price-taking explorer to an apex owner-operator in Nevada. This shift is emerging through the strategic single-seller status on the Lone Tree Autoclave. Refractory ore processing is the main bottleneck in the Great Basin. As of now, i-80 pays much more (expensive) than it should be, $275–$280 per tonne in toll-milling fees to third parties. The board's approval to proceed with the $430 million Lone Tree refurbishment (backed by Hatch Engineering) is a main upside catalyst. Once the 2,268 tonnes-per-day pressure oxidation [POX] facility is commissioned in late-FY2027, i-80 can capture large margin expansion. As a result, this may alter the cutoff grades and underground life-of-mine [LOM] economics at Granite Creek, Archimedes, and Cove (in my opinion). Moreover, the recent $1 billion+ recapitalization (mainly the $500 million financing package with Franco-Nevada, National Bank, and Macquarie) is a dual-purpose lever. This recapitalization mostly reduces the $175 million legacy debt overhang and is deploying $50 million toward the acceleration of the Miner...
designer491/iStock via Getty Images Do you have any preferred stocks in your portfolio? Preferreds can be a useful source of high-yield income. In addition, preferred dividends are usually more secure than common dividends, as they have stronger coverage and are at a higher rank in the creditor's pile. Instead of parsing through scads of individual preferreds, some investors turn to Closed End Fun...
designer491/iStock via Getty Images Do you have any preferred stocks in your portfolio? Preferreds can be a useful source of high-yield income. In addition, preferred dividends are usually more secure than common dividends, as they have stronger coverage and are at a higher rank in the creditor's pile. Instead of parsing through scads of individual preferreds, some investors turn to Closed End Funds, "CEF's," to do the sorting for them. One preferred-focused CEF is the Cohen & Steers Select Preferred and Income Fund, Inc. ( PSF ). Fund Profile: "The primary investment objective of the Fund is high current income through investment in preferred and other income securities. The secondary investment objective is capital appreciation." ( PSF site ) Begun in 2010, PSF is a mid-range-size debt closed-end fund, or CEF, with 317 holdings and 37K in average daily volume. Management uses leverage, which was 33.31% as of 2/28/26. The Expense ratio of 3.76% includes 2.48% in interest expense. Hidden Dividend Stocks Plus Holdings: As of 12/31/25, the portfolio contained 88% in Institutional Preferred Shares, 1% in Floating Rate Preferreds, and 11% in Retail Preferreds. psf Banks are big issuers of preferred stocks; hence, PSF's 54% sector weighting in Banking is much heavier than its allocations to Utilities, at 11%; Insurance, at 10%; Pipelines, at 8%; and other sectors: psf As of 12/31/25, the U.S. had the biggest national exposure, at 47%, followed by Canada, at 11%, and the UK and France, both at 9%, with other nations running from 3% for Spain to 4% for Switzerland. psf Investment-Grade securities comprised 50% of PSF's holdings as of 12/31/25, with 37% in non-investment grade and 12% unrated: psf The portfolio is skewed toward long-term maturities, with 14.27% in 20-30 years and 14.79% in 30+ years. There's also 3.37% in 10-15 year and 1.37% in 7-10 year maturities. cfct As noted earlier, the Banking industry dominates PSF's holdings - 8 out of 10 of its top 10 holdings ar...
Muhammad Safuan/iStock via Getty Images In November 2025, I circulated a bearish article on Cohen & Steers REIT & Preferred & Income Fund Inc. ( RNP ) outlining why, in my view, the odds for RNP's upside remain limited due to stubbornly high long-term yields. Another driver for my decision to avoid RNP was related to some unfavorable debt refinancings, which soon were about to get rolled over into...
Muhammad Safuan/iStock via Getty Images In November 2025, I circulated a bearish article on Cohen & Steers REIT & Preferred & Income Fund Inc. ( RNP ) outlining why, in my view, the odds for RNP's upside remain limited due to stubbornly high long-term yields. Another driver for my decision to avoid RNP was related to some unfavorable debt refinancings, which soon were about to get rolled over into more expensive borrowings. These two aspects combined were sufficient to offset the benefit that might come from RNP's relatively enticing yield, which at that time stood at ~7.7%. This is how RNP has performed since the publication of my previous piece: YCharts We can see that even with the leverage component involved and a clear bias towards high-quality REITs, RNP has lagged the overall REIT market ( VNQ ), which itself has produced unsatisfactory returns, especially on an inflation-adjusted basis. What we have now is RNP with a slightly more attractive yield - i.e., 8.3%. As opposed to Cohen & Steers Infrastructure Fund ( UTF ) and Reaves Utility Income Trust ( UTG ), which are fundamentally similar closed-end funds, or CEFs, managed by Cohen & Steers but with different asset class exposures, for RNP the distribution amount has not moved up for years. The only reason why it is up is because of the share price decline. It could be so that the adjustment in the share price has created an opportunity for us to access a high-quality REIT factor that is garnished with a juicy yield. However, I am afraid that this might not be the case here. Let me explain. Thesis review The short answer is that RNP's yield is less attractive than how it might seem on the surface. Moreover, the issue is not only about the current yield (distributions) but also about a quite unfavorable trajectory going forward. Here is the thing. If we look at the recent distributions and try to backtrack the sources of capital that have been used to make the payments happen, we will arrive at quite interest...
Catch up on all the headlines with BTW. Lisa Mateo, Christina Ruffini and David Gura dive into the headlines you may have missed on Bloomberg This Weekend. Watch more here: Watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)
Catch up on all the headlines with BTW. Lisa Mateo, Christina Ruffini and David Gura dive into the headlines you may have missed on Bloomberg This Weekend. Watch more here: Watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)
Banca Monte dei Paschi di Siena SpA is asking its shareholders to vote in favor of its board slate at the upcoming annual general meeting scheduled for April 15. The Italian lender said its proposed list would ensure “a strong alignment between governance and executive leadership,” according to a letter to shareholders published on Sunday. Its proposed slate would also ensure stability as the bank...
Banca Monte dei Paschi di Siena SpA is asking its shareholders to vote in favor of its board slate at the upcoming annual general meeting scheduled for April 15. The Italian lender said its proposed list would ensure “a strong alignment between governance and executive leadership,” according to a letter to shareholders published on Sunday. Its proposed slate would also ensure stability as the bank integrates Mediobanca SpA , after last year’s hostile $17 billion takeover. Paschi proposed business executive Fabrizio Palermo as its next chief executive officer, escalating a contest with incumbent Luigi Lovaglio who’s seeking to stay on. The letter, signed by Paschi Chairman Nicola Maione and Chair of Nominations Committee Domenico Lombardi , also said the company’s board slate is essential to support the bank in its “next phase of development.” Last week, the bank revoked the powers granted to Lovaglio as CEO and suspended him from his duties as general manager. That followed his attempt to seek a new term on a list of board candidates put forward by PLT Holding , which owns a stake of about 1.2% in Paschi. Paschi Proposes Palermo for CEO as Lovaglio Fights for New Term Paschi Strips CEO Lovaglio of Power After He Defied Board Paschi Investor PLT Wants Lovaglio as CEO in Competing List Monte Paschi Sets Mediobanca Share Swap Ratio for Delisting PLT defended its move to support Lovaglio as “a direct and deliberate response to what we regard as a governance failure: the outgoing board’s decision to exclude its own CEO at the precise moment when continuity of leadership is most consequential.” according to a letter published Wednesday.
The U.S. reportedly is making plans for Iran war ground operations. The stock market is already at six-month lows with oil prices at $100. Tesla deliveries loom.
The U.S. reportedly is making plans for Iran war ground operations. The stock market is already at six-month lows with oil prices at $100. Tesla deliveries loom.
wildpixel/iStock via Getty Images A series of well-timed trades tied to major policy announcements during Donald Trump’s second term has drawn scrutiny from legal experts, who say the activity could point to potential information leaks, Reuters reported Sunday. A review of trading patterns ahead of key decisions involving tariffs, Venezuela and Iran found multiple cases where investors appeared to...
wildpixel/iStock via Getty Images A series of well-timed trades tied to major policy announcements during Donald Trump’s second term has drawn scrutiny from legal experts, who say the activity could point to potential information leaks, Reuters reported Sunday. A review of trading patterns ahead of key decisions involving tariffs, Venezuela and Iran found multiple cases where investors appeared to act just before market-moving news became public. These trades spanned options, commodities and prediction markets, often generating large profits in short periods. Experts say the timing and scale of these bets raise questions about whether some traders had advance knowledge. While not proof of wrongdoing, the patterns resemble what regulators might expect if confidential information were improperly shared. Officials have pushed back on the idea of misconduct, noting that government employees are prohibited from using nonpublic information for personal gain. Regulators, including the Commodity Futures Trading Commission, monitor unusual trading activity, though it is unclear whether any formal investigations have begun. Some market participants caution that alternative explanations are possible. Traders may have simply anticipated policy moves better than others or used complex hedging strategies tied to broader macro trends. The growing use of geopolitical expertise on Wall Street may also play a role. Still, enforcement in these areas remains inconsistent. Insider trading rules apply across many markets, but cases involving commodities and prediction platforms are relatively rare, and oversight of newer betting markets is still evolving. Several examples highlighted in the review stand out. In one case, options traders placed large bets shortly before a tariff policy shift that triggered a sharp stock market rally. In another, prediction market wagers correctly anticipated major geopolitical developments, generating sizable payouts. A recent oil trade worth hundreds of ...
Exclusive: Pubs, restaurants and hotels warn of mounting pressure days before rates rises and higher wage bills take effect One in five hospitality businesses fear collapse in the next 12 months, according to an industry-wide survey that comes days before rises in tax and employment costs kick in. From Wednesday, many pub, restaurant and hotel companies face the prospect of a higher bill for busin...
Exclusive: Pubs, restaurants and hotels warn of mounting pressure days before rates rises and higher wage bills take effect One in five hospitality businesses fear collapse in the next 12 months, according to an industry-wide survey that comes days before rises in tax and employment costs kick in. From Wednesday, many pub, restaurant and hotel companies face the prospect of a higher bill for business rates paid to their local authority, while an increase in minimum wage thresholds takes effect on the same day. Continue reading...
In a landmark decision, Meta and Google were found negligent in the design and operation of their platforms making them hard to resist and causing serious harm to young users. Filmmaker and Director Matthew O'Neill joins David Gura and Christina Ruffini this morning on Bloomberg This Weekend to discuss his film "Can't Look Away: The Case Against Social Media" that chronicles the effects of social ...
In a landmark decision, Meta and Google were found negligent in the design and operation of their platforms making them hard to resist and causing serious harm to young users. Filmmaker and Director Matthew O'Neill joins David Gura and Christina Ruffini this morning on Bloomberg This Weekend to discuss his film "Can't Look Away: The Case Against Social Media" that chronicles the effects of social media use. Watch the full interview on Bloomberg This Weekend and watch the show LIVE every Saturday and Sunday morning.
Investors might not realize it, but they've been witnessing history since 2019. Over the S&P 500 's (SNPINDEX: ^GSPC) 98 years, it's delivered annual gains of at least 16% for three consecutive years on three occasions. Two of those three occurrences are recent (2019-2021 and 2023-2025). Following in the S&P 500's footsteps, we've watched the Dow Jones Industrial Average (DJINDICES: ^DJI) and Nasd...
Investors might not realize it, but they've been witnessing history since 2019. Over the S&P 500 's (SNPINDEX: ^GSPC) 98 years, it's delivered annual gains of at least 16% for three consecutive years on three occasions. Two of those three occurrences are recent (2019-2021 and 2023-2025). Following in the S&P 500's footsteps, we've watched the Dow Jones Industrial Average (DJINDICES: ^DJI) and Nasdaq Composite (NASDAQINDEX: ^IXIC) each reach psychologically important plateaus: 50,000 for the Dow and 24,000 for the Nasdaq. Although history can't concretely predict the future, it does have a way of rhyming on Wall Street more often than not . That's what makes the latest rare feat for the benchmark S&P 500 all the more intriguing for investors. Continue reading
U.S. stocks ended Friday broadly lower, with selling pressure intensifying across sectors as investors weighed persistent geopolitical risks tied to tensions in the Middle East. The tech-focused Nasdaq Composite was -2%. At the same time, the benchmark S&P 500 was -1.5%, and the blue-chip Dow was -1.6%. However, the S&P 500 Health Care Index Sector ( XLV ) gained about 0.67% during the week. The t...
U.S. stocks ended Friday broadly lower, with selling pressure intensifying across sectors as investors weighed persistent geopolitical risks tied to tensions in the Middle East. The tech-focused Nasdaq Composite was -2%. At the same time, the benchmark S&P 500 was -1.5%, and the blue-chip Dow was -1.6%. However, the S&P 500 Health Care Index Sector ( XLV ) gained about 0.67% during the week. The top S&P 500 healthcare gainers and losers for the last week are as follows: Top Gainers: Merck & Co. ( MRK ) +4.77% Charles River Laboratories International ( CRL ) +3.62% DaVita ( DVA ) +3.43% West Pharmaceutical Services ( WST ) +2.67% Mettler-Toledo International ( MTD ) +2.29% Top Losers: Insulet Corporation ( PODD ) -8.33% Centene ( CNC ) -7.03% DexCom ( DXCM ) -7.02% UnitedHealth Group ( UNH ) -6.01% Intuitive Surgical ( ISRG ) -5.30% Here are some of the important healthcare stories from this week: Merck acquires Terns Pharma for $6.7B Merck ( MRK ) on Wednesday said it will acquire clinical-stage biotech Terns Pharmaceuticals ( TERN ) in an all-cash deal valued at approximately $6.7 billion. Merck will pay $53.00 per share, representing a significant premium over Terns' recent trading average, as it seeks to integrate the promising leukemia candidate TERN-701 into its hematology portfolio. The transaction is expected to be accounted for as an asset acquisition and close in the second quarter of 2026, resulting in a charge of approximately $5.8 billion, or approximately $2.35 per share, included in both second-quarter and full-year 2026 GAAP and non-GAAP results, Merck ( MRK ) said in a statement . Merck ( MRK ) has been pursuing deals to strengthen its pipeline, with CEO Rob Davis spearheading a strategy to diversify the company's portfolio ahead of the 2028 patent expiration for its blockbuster cancer drug, Keytruda. Under the terms of the merger agreement, Merck, through a subsidiary, will acquire all of the outstanding shares of Terns. Medtronic lowers 2026 earnin...
In a landmark decision, Meta and Google were found negligent in the design and operation of their platforms making them hard to resist and causing serious harm to young users. Filmmaker and Director Matthew O'Neill joins David Gura and Christina Ruffini this morning on Bloomberg This Weekend to discuss his film "Can't Look Away: The Case Against Social Media" that chronicles the effects of social ...
In a landmark decision, Meta and Google were found negligent in the design and operation of their platforms making them hard to resist and causing serious harm to young users. Filmmaker and Director Matthew O'Neill joins David Gura and Christina Ruffini this morning on Bloomberg This Weekend to discuss his film "Can't Look Away: The Case Against Social Media" that chronicles the effects of social media use. Watch the full interview on Bloomberg This Weekend and watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)