Anthropic ( ANTHRO ) plans to invest $200M in a new venture with private-equity firms to sell AI tools to their portfolio companies, the Wall Street Journal reported. The new company would serve as a consulting arm for Anthropic that teaches businesses how to incorporate the startup's AI tools. General Atlantic, Blackstone ( BX ), and Hellman & Friedman are among the private-equity firms in discus...
Anthropic ( ANTHRO ) plans to invest $200M in a new venture with private-equity firms to sell AI tools to their portfolio companies, the Wall Street Journal reported. The new company would serve as a consulting arm for Anthropic that teaches businesses how to incorporate the startup's AI tools. General Atlantic, Blackstone ( BX ), and Hellman & Friedman are among the private-equity firms in discussions to back the project, people familiar with the matter said. The startup is in talks to raise $1 billion for the effort including Anthropic’s planned contribution, the report said. More on Anthropic Wall Street Lunch: Anthropic Tries To Contain Claude Code Instruction Leak Anthropic's IPO: What You Need To Know OpenClaw Is A Liability, Not The Breakthrough The AI Frenzy Suggests Anthropic, OpenAI's finances ahead of IPOs reveal computing cost challenges: report UK tries to woo Anthropic to expand in London amid US clash: report
Aldi Irvan Darmansyah/iStock via Getty Images Fellow Investors, The first quarter of 2026 demonstrated strong performance despite volatility in the broader market driven by ongoing conflict in the Middle East. We feel fortunate that we avoided the AI-driven wipeout in software and watched multiple anticipated catalysts for special situation investments come to fruition. Kingdom Capital Advisors (K...
Aldi Irvan Darmansyah/iStock via Getty Images Fellow Investors, The first quarter of 2026 demonstrated strong performance despite volatility in the broader market driven by ongoing conflict in the Middle East. We feel fortunate that we avoided the AI-driven wipeout in software and watched multiple anticipated catalysts for special situation investments come to fruition. Kingdom Capital Advisors (KCA Value Composite) returned 8.01 % (net of fees) in the first quarter, vs. 0.89% for the Russell 2000 TR, -4.33% for the S&P 500 TR, and -5.82% for the NASDAQ 100 TR. Since inception in January 2022, we have compounded at 22.81% net annualized versus 4.80% for the Russell 2000, representing cumulative outperformance of over 115%. Returns vary by account due to rounding, account size, and timing of deposits or withdrawals. Our top contributors this quarter were United Natural Foods ( UNFI ), Energous Corporation ( WATT ) and Alliance Entertainment ( AENT ). Our largest detractors were Magnera Corporation ( MAGN ), Mount Logan Capital, Inc. ( MLCI ) and WW International ( WW ). Active Management As discussed in prior letters, our special situation strategy can appear underwhelming in strong bull markets but tends to provide meaningful downside protection and uncorrelated returns during more volatile periods. The start of 2026 has reinforced this dynamic. The first half of 2025 marked our most challenging period since inception, with the composite declining by over 10%. Since that trough, we have rebounded nearly 40% over the subsequent nine months. We appreciate your continued trust and patience through periods of volatility. We were active during the quarter and exited several positions after achieving our targeted returns: TSS, Inc. ( TSSI ): Following a ~50% decline due to delayed rack integration volumes (highlighted in our Q4 letter), the company’s results in March confirmed a successful facility ramp. The stock doubled from its lows, and we exited the position with gai...
In this article ZE594-CN 1211-HK Follow your favorite stocks CREATE FREE ACCOUNT BYD vehicles in the production line at the company's new electric vehicle factory at the Industrial Complex in Camacari, in the state of Bahia, Brazil Oct. 9, 2025. Joa Souza | Reuters Brazil has put China's BYD on a registry of employers who have subjected workers to conditions similar to slavery, after a 2024 scanda...
In this article ZE594-CN 1211-HK Follow your favorite stocks CREATE FREE ACCOUNT BYD vehicles in the production line at the company's new electric vehicle factory at the Industrial Complex in Camacari, in the state of Bahia, Brazil Oct. 9, 2025. Joa Souza | Reuters Brazil has put China's BYD on a registry of employers who have subjected workers to conditions similar to slavery, after a 2024 scandal in which Chinese workers were said to have been victims of human trafficking and abusive contracts. The list, published by Brazil's Labor Ministry, carries further reputational risk for the automaker in its biggest market after China. It also bars BYD from obtaining certain types of loans from Brazilian banks, but does not affect the operation of its sole auto plant in the country that the workers were hired to build. BYD did not reply to a request for comment. Jinjiang Group, the contractor that BYD used to hire the 163 workers cited in the scandal, has denied the claims. BYD has previously said it had no knowledge of any violations until reports by Brazilian media in late November. Brazilian officials have argued that BYD is ultimately responsible for its workers' conditions as it should be supervising its contractors. Crammed lodgings, no mattresses Chinese workers hired by Jinjiang in Brazil had to hand over their passports to their new employer, let most of their wages be sent directly to China, and fork over an almost $900 deposit that they could only get back after six months' work, according to a labor contract seen by Reuters. A raid by labor inspectors also found the laborers living crammed in lodgings without mattresses. Thirty-one workers were crammed in a single house with only one bathroom and food piled up on the ground alongside personal belongings, in what inspectors said were "degrading conditions." The scandal caused international outrage, including in China, and led to a months-long delay in the construction of the plant. But BYD had appeared to have p...
A Filipino taxi driver who attempted to overcharge a member of K-pop group TXT has been suspended from operating, after the incident sparked backlash both in South Korea and the Philippines. According to a report aired on Monday on JTBC’s Chief Investigator, TXT member Choi Soo-bin, known mononymously as Soobin, was targeted in a taxi fare scam while travelling in Cebu, a popular tourist destinati...
A Filipino taxi driver who attempted to overcharge a member of K-pop group TXT has been suspended from operating, after the incident sparked backlash both in South Korea and the Philippines. According to a report aired on Monday on JTBC’s Chief Investigator, TXT member Choi Soo-bin, known mononymously as Soobin, was targeted in a taxi fare scam while travelling in Cebu, a popular tourist destination in the Philippines. The incident was originally revealed on Wednesday through the group’s...
anamejia18/iStock Editorial via Getty Images Ecopetrol ( EC ) said late Monday its board ousted CEO Ricardo Roa after Colombian prosecutors charged him with alleged influence peddling. The attorney general’s office filed charges against Roa last month for his alleged involvement in an influence peddling scheme linked to the purchase of a luxury Bogotá apartment from an oil executive in 2022, and ...
anamejia18/iStock Editorial via Getty Images Ecopetrol ( EC ) said late Monday its board ousted CEO Ricardo Roa after Colombian prosecutors charged him with alleged influence peddling. The attorney general’s office filed charges against Roa last month for his alleged involvement in an influence peddling scheme linked to the purchase of a luxury Bogotá apartment from an oil executive in 2022, and separate charges related to violating campaign spending limits as head of Gustavo Petro's successful 2022 presidential campaign could happen later this month. Roa will take a leave of absence until June 28, to be replaced by current COO Juan Carlos Hurtado on an interim basis; by then, Colombians would have elected a new president, who will take office in August and likely appoint new leadership to the state-run company. The move follows pressure from Colombia's largest oil workers union, which threatened to strike unless Ecopetrol's ( EC ) board dismissed Roa. Roa has held the top job at Ecopetrol ( EC ) since April 2023, when he replaced Felipe Bayón after newly elected Petro sought to advance plans to transition Colombia away from fossil fuels. More on Ecopetrol Ecopetrol: The Rerating Story Is Over The Slow Destruction Of Colombia's Ecopetrol Ecopetrol Q4 2025 Earnings Call Presentation
Oxford Economics says Australia's economy could face its sharpest recession since the early 1990's, outside of the pandemic, if the Iran war extends and continues to disrupt supply chains. Australia economist Harry McAuley discusses the outlook on "Bloomberg: The Asia Trade." (Source: Bloomberg)
Oxford Economics says Australia's economy could face its sharpest recession since the early 1990's, outside of the pandemic, if the Iran war extends and continues to disrupt supply chains. Australia economist Harry McAuley discusses the outlook on "Bloomberg: The Asia Trade." (Source: Bloomberg)
China’s electric-arc furnace steelmakers boosted weekly capacity utilization to the highest in more than two years, as the greener production method becomes more competitive. The average output of 94 independent EAF mills surveyed by consultancy Mysteel was equivalent to more than 61% of capacity in the week ended April 2. That’s the highest since January 2024 and breaks a trend whereby production...
China’s electric-arc furnace steelmakers boosted weekly capacity utilization to the highest in more than two years, as the greener production method becomes more competitive. The average output of 94 independent EAF mills surveyed by consultancy Mysteel was equivalent to more than 61% of capacity in the week ended April 2. That’s the highest since January 2024 and breaks a trend whereby production has struggled to top the 60% threshold. “The root cause is that electric furnaces are becoming profitable again,” said Steven Yu, a researcher at Mysteel. Mills have been able to ramp up output relatively quickly to meet rising demand and fill gaps left by a steady drawdown in inventories, he added. Electric-arc furnaces are fed with recycled scrap, rather than iron ore and coal, which makes them a cleaner – though more expensive – alternative to the carbon-intensive blast furnaces more commonly used to make steel. China’s mills missed a key emissions-reduction target last year due to low EAF production. Read More: China’s Green Steel Plan Set Back by Low Electric-Furnace Output The price gap between the two production methods, however, has narrowed in recent weeks. Higher raw-material costs for traditional steelmaking have reduced the difference between molten iron and scrap to about 60 yuan ($8.72) per ton from a peak of more than 100 yuan per ton, Yu said. “This means the advantage of electric furnaces is gradually returning,” he said. Futures of rebar and hot-rolled coil on the Shanghai Futures Exchange were down 0.2% and 0.3% respectively at 11:43 a.m. local time. Singapore iron ore futures fell 0.4% to $106.20 a ton, while futures on the Dalian exchange also dropped.
From a conference room atop H&M ’s headquarters in the heart of Stockholm — with its brown-toned wood and clean lines giving the space a distinctly Scandinavian feel — Chief Executive Officer Daniel Ervér speaks of reviving the one-time Swedish highflyer. What he’s up against is a credibility problem. Eight years ago, after a record quarterly sales drop, Hennes & Mauritz AB’s then CEO Karl-Johan P...
From a conference room atop H&M ’s headquarters in the heart of Stockholm — with its brown-toned wood and clean lines giving the space a distinctly Scandinavian feel — Chief Executive Officer Daniel Ervér speaks of reviving the one-time Swedish highflyer. What he’s up against is a credibility problem. Eight years ago, after a record quarterly sales drop, Hennes & Mauritz AB’s then CEO Karl-Johan Persson , a scion of its billionaire founding family, had gathered shareholders in the historic Stockholm concert hall Cirkus for its first — and only — capital markets day to reassure them that things would get better. They didn’t. Just weeks after the event — where Persson had cut a dapper figure, tie-less, in a white shirt and an Arket suit — the company dumped more bad news: roughly $4 billion in unsold garments and a 62% drop in operating profit. Now, Ervér— who took over in 2024 — is seeking once again to convince investors that the group has turned a corner. Alongside an ambitious remake, Ervér has sought to dig H&M out of one of the biggest inventory pileups in modern retail. While those efforts are bringing richer operating margins and profits, they have yet to lead to sustained sales growth, and Ervér is asking for patience. “We have begun to lay a stable foundation for future growth,” the 44-year-old Swede, a quintessential insider who’s spent his entire career at the company, said in an interview on April 1. “That can be seen in increased profitability, better cash-flow earning capacity, lower inventory levels... Over time that will lead to us seeing stronger growth. I think we are at the beginning of the journey, but it is a long-term journey.” Time is something investors are reluctant to give the company. From its 2015 peak, H&M has lost roughly half its market value, erasing tens of billions of dollars in equity. Just two years earlier, it had been Stockholm’s most-valuable listed company. H&M’s inability to stack up in the $1.9 trillion global apparel market ...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: In Iran, escalation continues as Trump promises “decimation” by midnight. And yet (counterintuitiveness alert), defense stocks aren’t benefiting. The dollar hasn’t had as great a war as it might appear. Jamie Dimon sees cockroaches in private credit, but not systemic risk . Please vote for us in the We...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: In Iran, escalation continues as Trump promises “decimation” by midnight. And yet (counterintuitiveness alert), defense stocks aren’t benefiting. The dollar hasn’t had as great a war as it might appear. Jamie Dimon sees cockroaches in private credit, but not systemic risk . Please vote for us in the Webbys . AND: Some music for the spheres as astronauts go further into space than ever. King Dollar In a conflict with few winners , the dollar’s surviving hegemony stands out. The greenback has risen 2.2% since the US and Israel began their coordinated attacks on Iran. That’s consequential after the world’s reserve currency dropped more than 8% last year — but despite appearances, it’s premature to declare this a turnaround. First, the dollar’s weakness going into the war broadly aligned with Washington’s desire to boost export competitiveness. Treasury Secretary Scott Bessent had made a weaker dollar an explicit aim. The dollar’s uptick has been an unintended consequence, just as rising oil prices have dented the affordability drive. For now, it’s not clear that this is a paradigm shift: Second, the six-week rally followed an awful start to 2026. The dollar is up only about 0.9% year-to-date. The question is whether the recent resurgence — not surprising at a time when heightened risk aversion prompted investors to seek shelter — has enough strength to carry through the rest of the year. The wartime rally has at least put to rest any doubts about the dollar’s “safe-haven” status. Robin Brooks of the Brookings Institution illustrates this vote of confidence with a chart of foreign capital flows into Treasuries, corporate debt and equities, which are at their strongest in recent years: Regardless, Brooks maintains a bearish view of the dollar, projecting a 10% fall in trade-weighted terms this year. This isn’t about any loss of reserve currency status, but is driven by an inc...
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The program invites creators to create original content with Picsart tools for a specific campaign, share it on their social channels, and earn revenue based on how their audience engages.
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Paul Allen, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Paul Allen, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)