Joseph D Washburn/iStock Editorial via Getty Images U.S. Transportation Department Secretary Sean Duffy said he sees “room” for more M&A activity in the airline industry. “Who knows who's going to match up, right? There's always chatter. But is there room for some mergers in the aviation industry? Yeah, I think there is,” Duffy told CNBC on Tuesday , noting President Trump "loves to see big deals ...
Joseph D Washburn/iStock Editorial via Getty Images U.S. Transportation Department Secretary Sean Duffy said he sees “room” for more M&A activity in the airline industry. “Who knows who's going to match up, right? There's always chatter. But is there room for some mergers in the aviation industry? Yeah, I think there is,” Duffy told CNBC on Tuesday , noting President Trump "loves to see big deals happen." Duffy noted that the Transportation and Justice Departments would have to review any proposed deals to make sure they don't negatively impact consumers or hinder competition. "If there were a merger between some of the larger airlines, they would have to peel off some of their assets," Duffy added. CNBC noted Delta ( DAL ), American ( AAL ), Southwest ( LUV ), and United ( UAL ) each hold a roughly 20% stake in the U.S. passenger airline market. More on Delta Air Lines, American Airlines, etc. Delta Air Lines: Why It Is A Relative Winner (Rating Upgrade) Delta Air Lines Will Potentially Lead In This Year Of Chaos Delta Air Q1 Earnings Preview: A High Bar To Fly Over, Shares Fairly Valued Transportation Sec. Duffy says there's room for U.S. airline consolidation SA analyst upgrades/downgrades: SHOP, META, DAL, KMI
JHVEPhoto/iStock Editorial via Getty Images Jefferies Financial ( JEF ) said its Q1 results included a gross mark-to-market loss of $42.8M associated with Market Financial Solutions, the property lender that collapsed in February amid allegations of financial irregularities. The company said its fixed income net revenue of $220.3M in its fiscal first quarter ended Feb. 28, 2026, declined almost 24...
JHVEPhoto/iStock Editorial via Getty Images Jefferies Financial ( JEF ) said its Q1 results included a gross mark-to-market loss of $42.8M associated with Market Financial Solutions, the property lender that collapsed in February amid allegations of financial irregularities. The company said its fixed income net revenue of $220.3M in its fiscal first quarter ended Feb. 28, 2026, declined almost 24% from the year-ago quarter due to challenging credit markets. Strong performance in its municipal securities and emerging markets businesses "was more than offset by lower results from our securitized products business," which included the markdown on MFS, it added. In its Q1 earnings release, the company last month said it had $17M of losses related to Market Financial Solutions and First Brands, another company that collapsed under allegations of fraud. More on Jefferies Financial Group Jefferies: Credit Concerns Overshadow Discounted Valuation Jefferies Q1 revenue beats, helped by robust investment banking activity Jefferies Financial Group Q1 2026 Earnings Preview Seeking Alpha’s Quant Rating on Jefferies Financial Group Historical earnings data for Jefferies Financial Group
Brooke Rollins, US agriculture secretary, speaks to members of the media outside the White House in Washington, DC, US, on Friday, March 27, 2026. Aaron Schwartz | Sipa | Bloomberg | Getty Images U.S. Department of Agriculture Secretary Brooke Rollins sent USDA staff an Easter email that emphasized the story of Jesus being crucified and resurrected, a message that some Christians said alienated th...
Brooke Rollins, US agriculture secretary, speaks to members of the media outside the White House in Washington, DC, US, on Friday, March 27, 2026. Aaron Schwartz | Sipa | Bloomberg | Getty Images U.S. Department of Agriculture Secretary Brooke Rollins sent USDA staff an Easter email that emphasized the story of Jesus being crucified and resurrected, a message that some Christians said alienated them for its overt religiosity. "Happy Easter — He is Risen indeed," Rollins wrote in the email sent on Good Friday, which CNBC has reviewed and was first to report. "From the foot of the Cross on Good Friday to the stone rolled away from the now empty tomb, sin has been destroyed," Rollins wrote. "Jesus has been raised from the dead. And God has granted each of us victory and new life. And where there is life — risen life — there is hope." The email included an illustration of a round stone rolled away from the entrance to Jesus' tomb, with the words "Christ is Risen" written above the image. A USDA staffer who spoke to CNBC said the email was offensive to them as a devout Christian, and as a department employee who works "with people of other faiths, Muslims, Hindus." The staffer, who spoke on the condition of anonymity because they were worried about retaliation, said other USDA employees also were offended by Rollins' message. "People are not on board for her sort of brand from a Christian nationalist perspective," the staffer said. "It misses the mark from a lot of angles." "I find it blasphemous, actually, because it's contrasting Jesus' message," they said. Asked for comment about Rollins' email and reaction to it, a USDA spokesperson, in an email to CNBC, said, "The Secretary is within her rights to send a message to employees and the public on the Easter holiday. Just like Secretaries of Agriculture and Presidents have in the past." Read more CNBC politics coverage Trump praises Hungary PM Viktor Orbán after Vance calls him at Budapest rally Bill Gates interview abou...
Trident Digital Tech ( TDTH ) will change its ADS ratio from 1:8 to 1:240 Class B shares effective April 24, 2026. The adjustment is equivalent to a 1-for-30 reverse ADS split for shareholders. TDTH shares down 11% post-market. More on Trident Digital Tech Holdings Trident warned by Nasdaq over low market value Financial information for Trident Digital Tech Holdings
Trident Digital Tech ( TDTH ) will change its ADS ratio from 1:8 to 1:240 Class B shares effective April 24, 2026. The adjustment is equivalent to a 1-for-30 reverse ADS split for shareholders. TDTH shares down 11% post-market. More on Trident Digital Tech Holdings Trident warned by Nasdaq over low market value Financial information for Trident Digital Tech Holdings
How Mikel Arteta will have treasured this win. Having come into their third successive appearance in the quarter-final of the Champions League on the back of devastating defeats in the Carabao Cup and FA Cup, he had watched Arsenal put in another anxious performance against a spirited Sporting side who could have established a precious lead ahead of next week’s second leg in north London if they h...
How Mikel Arteta will have treasured this win. Having come into their third successive appearance in the quarter-final of the Champions League on the back of devastating defeats in the Carabao Cup and FA Cup, he had watched Arsenal put in another anxious performance against a spirited Sporting side who could have established a precious lead ahead of next week’s second leg in north London if they had taken their chances. Instead it was Kai Havertz who again came to Arsenal’s rescue after scoring in the last round against his former club Bayer Leverkusen as he struck in injury time, with David Raya making a string of fine saves that underlined his importance to the side. After the doubts emerged in the defeats against Manchester City and Southampton, perhaps this will be the confidence boost that the Premier League leaders needed as they prepare to return to domestic action against Bournemouth on Saturday? Continue reading...
Marathon Asset Management Chair and CEO Bruce Richards explains why he sees a correction in direct lending. Speaking on "Bloomberg The Close," Richards says software has the biggest problems in direct lending, expecting the default rate to go to 15% in that sector. (Source: Bloomberg)
Marathon Asset Management Chair and CEO Bruce Richards explains why he sees a correction in direct lending. Speaking on "Bloomberg The Close," Richards says software has the biggest problems in direct lending, expecting the default rate to go to 15% in that sector. (Source: Bloomberg)
Chad Bianco of Riverside county obtained warrants to seize ballots cast for state’s successful redistricting referendum Sign up for the Breaking News US email to get newsletter alerts in your inbox A California sheriff’s decision to seize about 650,000 ballots based on specious allegations of fraud has raised considerable alarm bells that similar efforts to undermine confidence in the electoral sy...
Chad Bianco of Riverside county obtained warrants to seize ballots cast for state’s successful redistricting referendum Sign up for the Breaking News US email to get newsletter alerts in your inbox A California sheriff’s decision to seize about 650,000 ballots based on specious allegations of fraud has raised considerable alarm bells that similar efforts to undermine confidence in the electoral system could materialize this fall. The episode underscores how sheriffs and other officials can transform shoddy claims about voter fraud into law enforcement actions. Executing a warrant to seize ballots disrupts the chain of custody that is critical to maintaining ballot integrity, and also plants the idea in the public’s mind that a crime has occurred. Continue reading...
Welcome back to Canada Daily, the newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, sign up here . Donald Trump has made many threats since his return to the White House more than 14 months ago. Some of them have put the world on edge. Tuesday morning’s social media post about Iran was one of those. “A whole civilization will die to...
Welcome back to Canada Daily, the newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, sign up here . Donald Trump has made many threats since his return to the White House more than 14 months ago. Some of them have put the world on edge. Tuesday morning’s social media post about Iran was one of those. “A whole civilization will die tonight, never to be brought back again,” wrote the president of the world’s most powerful nation. “I don’t want that to happen, but it probably will.” Canada’s leaders have been fairly cautious with their words throughout the Middle East war. That continues. Asked about Trump’s comments, Prime Minister Mark Carney said: “Canada expects all parties in this conflict — in any conflict — to respect international laws, the rules of engagement. And that means not targeting, certainly, civilians or civilian infrastructure.” Soon after, Bloomberg News sat down with Foreign Minister Anita Anand. We asked: What did she think of the president’s language? The minister did not want to go there. “The concern that Canada has across the board for civilian life and civilian infrastructure must be underlined at this time,” she said. Canada’s other priorities are seeking de-escalation of the conflict, supporting countries that are taking retaliatory hits from Iran, and seeing the Strait of Hormuz reopened . And as for the Strait — what will Canada do to keep it open? That’s still to be decided, Anand said. But it’s possible the government will get involved in de-mining the waterway, or providing a ship to help. “That set of decisions will be taken once there is a cease-fire,” the minister said. As the afternoon progressed, there was a ray of hope for a short-term pause in the fighting, at least. Trump told Fox News he was in “heated negotiations” involving the war with Iran after mediator Pakistan asked for a two-week extension of his 8 p.m. deadline for a reopening of the Strait of Hormuz. Al...
Just weeks before a planned summit between US President Donald Trump and Chinese leader Xi Jinping, Washington’s top trade negotiator signalled a cautious, tightly managed approach to China ties, ruling out a pre-summit visit to Beijing, favouring continued virtual engagement, and indicating no new push to expand bilateral investment. US Trade Representative Jamieson Greer indicated on Tuesday tha...
Just weeks before a planned summit between US President Donald Trump and Chinese leader Xi Jinping, Washington’s top trade negotiator signalled a cautious, tightly managed approach to China ties, ruling out a pre-summit visit to Beijing, favouring continued virtual engagement, and indicating no new push to expand bilateral investment. US Trade Representative Jamieson Greer indicated on Tuesday that preparatory talks with Chinese counterparts would take place virtually, ruling out an in-person...
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it’s us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it’s contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting ...
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it’s us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it’s contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting with us, check out the Odd Lots Discord , where you can hang out and talk with us and with other listeners 24/7. Odd Lots is coming to LONDON! Hi there Odd Lots newsletter subscribers! We wanted to give you a heads-up that we’ll be heading to London in May for a special live recording of the podcast . This is the first time we’re hosting a live show in the city and you can expect a great lineup of guests as well as an engaging evening with fellow Odd Lots listeners. Ticket sales will go live on Thursday and we’ll include a link to purchase here in the newsletter. Our previous shows have been selling out pretty quickly, so if you’re interested, make sure to open Thursday’s newsletter! Here’s what Tracy’s thinking about... We know from some recent episodes , that fertilizer is not a monolith. Broadly speaking, one might break it down into two major categories: nitrogen and phosphates. Nitrogen-based fertilizers, like urea, are made using natgas. Meanwhile phosphates come from sulfur, itself a byproduct of oil refining. What’s interesting right now, is not just the parabolic moves in fertilizer prices themselves, but how those surging prices are translating into actual winners and losers in the petrochemical complex. You can see what I mean in the below chart, which shows CF Industries versus Nutrien. Both of these are large North American fertilizer producers and, superficially, you might expect them to move together when their product prices are all soaring. Yet that hasn’t been the case. So what’s happening here? CreditSights analysts Andrew Brady and Jarah Cotton explain: ...
Tesla just missed on deliveries, missed on energy storage, and now has one of Wall Street's most prominent bears renewing his case for significant further declines. JPMorgan analyst Ryan Brinkman reiterated an Underweight rating on Tesla on April 6 and maintained his $145 price target, which ...
Tesla just missed on deliveries, missed on energy storage, and now has one of Wall Street's most prominent bears renewing his case for significant further declines. JPMorgan analyst Ryan Brinkman reiterated an Underweight rating on Tesla on April 6 and maintained his $145 price target, which ...
In late March, Alphabet unveiled a new software product called TurboQuant. At a high level, TurboQuant dramatically compresses memory footprints in large language models during inference . It didn't take long for headlines to circulate and cause shares of Micron Technology (NASDAQ: MU) to plunge. In large part, the sell-off was tied to Micron's relationship with Nvidia (NASDAQ: NVDA) since its hig...
In late March, Alphabet unveiled a new software product called TurboQuant. At a high level, TurboQuant dramatically compresses memory footprints in large language models during inference . It didn't take long for headlines to circulate and cause shares of Micron Technology (NASDAQ: MU) to plunge. In large part, the sell-off was tied to Micron's relationship with Nvidia (NASDAQ: NVDA) since its high-bandwidth memory (HBM) solutions help power Nvidia's graphics processing units (GPUs). Continue reading
SpaceX and Tesla are tapping Intel to help the pair realize their AI dreams. “Terafab” is Elon Musk’s plan to vertically integrate into semiconductor production, which he believes will be a key bottleneck for AI in the coming years. The fab is a joint effort between Musk’s xAI, SpaceX, and Tesla, which he calls “the most epic chip building exercise in history.”
SpaceX and Tesla are tapping Intel to help the pair realize their AI dreams. “Terafab” is Elon Musk’s plan to vertically integrate into semiconductor production, which he believes will be a key bottleneck for AI in the coming years. The fab is a joint effort between Musk’s xAI, SpaceX, and Tesla, which he calls “the most epic chip building exercise in history.”
Dozens of Congressional Democrats raised alarm Tuesday over President Trump's rhetoric about Iran. Most Republican lawmakers have been silent. (Image credit: Zayrha Roodriguez)
Dozens of Congressional Democrats raised alarm Tuesday over President Trump's rhetoric about Iran. Most Republican lawmakers have been silent. (Image credit: Zayrha Roodriguez)
Bloomberg’s Caroline Hyde and Ed Ludlow discuss Intel’s plan to join Elon Musk’s Terafab project with Tesla, SpaceX, and xAI. Plus, Broadcom and Google expand an agreement with Anthropic to power the AI startup’s burgeoning operations. And Bill Ackman looks to make a deal for the world’s largest music company, Universal Music Group. (Source: Bloomberg)
Bloomberg’s Caroline Hyde and Ed Ludlow discuss Intel’s plan to join Elon Musk’s Terafab project with Tesla, SpaceX, and xAI. Plus, Broadcom and Google expand an agreement with Anthropic to power the AI startup’s burgeoning operations. And Bill Ackman looks to make a deal for the world’s largest music company, Universal Music Group. (Source: Bloomberg)