Alex Sanfeliu , head of world trading at Cargill Inc. , is leaving the top agricultural commodities firm after three decades, according to people familiar with the matter. Geneva-based Sanfeliu, who started at as a junior trader at Cargill in 1995, is departing for another opportunity, said the people, who asked not to be identified discussing private matters. He led a team handling trading in eve...
Alex Sanfeliu , head of world trading at Cargill Inc. , is leaving the top agricultural commodities firm after three decades, according to people familiar with the matter. Geneva-based Sanfeliu, who started at as a junior trader at Cargill in 1995, is departing for another opportunity, said the people, who asked not to be identified discussing private matters. He led a team handling trading in everything from corn to wheat and soybeans. Cargill, the largest private company in the US by revenue, has been restructuring its business for more than a year. The company cut the number of business units to three from five and announced 8,000 job cuts. Several executives have also retired or changed roles. A spokesperson for Cargill declined to comment. It’s not clear where Sanfeliu is headed. He has held several roles in his 30 years at Cargill include senior soybean trader and corn world trading manager, according to his LinkedIn profile . During an appearance on the Strong Source podcast last year, Sanfeliu said he made a career in commodities “totally by chance.” “The commodity world, I like the connection that you have between the cash markets and futures,” he said, adding that he declined the first job offer from Cargill because it would have required him to leave Barcelona. He later accepted a second offer from the company. Net income at Minneapolis-based Cargill jumped 86% to $1.94 billion in the three months ended Aug. 31, with gains coming from businesses including cocoa and its Wayne-Sanderson Farms chicken joint venture, according to accounts seen by Bloomberg. Cargill is the C in the ABCD quartet of agricultural commodity trading firms that dominate crop markets. The others are Archer-Daniels-Midland Co., Bunge Global SA and Louis Dreyfus Co. Read More: Cargill’s Profit Surges 86% With Boost From Trump Tax Bill
Amazon.com CEO Andy Jassy dismissed fears of an artificial intelligence bubble and told investors they shouldn’t expect any slowdown in the firm’s AI investments—and the stock market seems to believe him. Jassy says he has the figures to back it all up. Amazon has projected capital expenditure of around $200 billion this year, largely on AI data centers.
Amazon.com CEO Andy Jassy dismissed fears of an artificial intelligence bubble and told investors they shouldn’t expect any slowdown in the firm’s AI investments—and the stock market seems to believe him. Jassy says he has the figures to back it all up. Amazon has projected capital expenditure of around $200 billion this year, largely on AI data centers.
Jeff Swensen/Getty Images News Alcoa ( AA ) up 3.4% in Thursday's trading as Morgan Stanley upgraded shares to Overweight from Equal Weight with an $80 price target, raised from $64, saying the company is set to benefit from higher aluminum prices due to a structurally tight market, further supported by disruptions in the Middle East, a region that accounts for ~9% of global supply, 70% of which i...
Jeff Swensen/Getty Images News Alcoa ( AA ) up 3.4% in Thursday's trading as Morgan Stanley upgraded shares to Overweight from Equal Weight with an $80 price target, raised from $64, saying the company is set to benefit from higher aluminum prices due to a structurally tight market, further supported by disruptions in the Middle East, a region that accounts for ~9% of global supply, 70% of which is exported. Curtailments are now evident across large parts of the United Arab Emirates smelter system, together affecting ~3M tons, or 4% of global supply, and the disruption is spilling into feedstock, with ~3M tons of alumina supply potentially displaced, Morgan Stanley's Carlos de Alba said, adding that while company confirmation remains pending, the scale and duration risk of the outages materially tightens the physical market beyond initial expectations and reinforces upside risks to aluminum prices and regional premiums, even as softer demand may partially offset the impact. De Alba also revised his estimated realized pricing for Alcoa's ( AA ) aluminum segment higher by 13% in 2026 and 20%-plus in 2027, and given the relatively high-cost nature of the company's smelters, this leads to sizable upward revisions in EBITDA (up 41% and 60%, respectively) and earnings per share (up 52% and up 88%, respectively) over the same period. The analyst said he expects the improved earnings outlook will translate into solid cash flow generation—free cash flow yields of 8.2% and 10% in 2026 and 2027, respectively—and reduce the company's expanded net debt well below its $1.5B target, leaving room to increase shareholder returns through increases to the base dividend or share buybacks. More on Alcoa Alcoa Can See Tailwinds Driven By Geopolitical Risk Alcoa Has A Lot Going For It That Justifies Further Upside Alcoa Presents at JPMorgan Industrials Conference 2026 - Slideshow
British Prime Minister Keir Starmer delivers remarks at the top of the Cabinet meeting to mark the fourth anniversary of Russia's full-scale invasion of Ukraine at Downing Street on February 24, 2026 in London, England. Wpa Pool | Getty Images News | Getty Images British Prime Minister Keir Starmer said he is "fed up" seeing energy bills in the U.K. swing up and down because of actions taken by U....
British Prime Minister Keir Starmer delivers remarks at the top of the Cabinet meeting to mark the fourth anniversary of Russia's full-scale invasion of Ukraine at Downing Street on February 24, 2026 in London, England. Wpa Pool | Getty Images News | Getty Images British Prime Minister Keir Starmer said he is "fed up" seeing energy bills in the U.K. swing up and down because of actions taken by U.S. President Donald Trump and Russian President Vladimir Putin . The comments, in an interview with ITV News' Talking Politics podcast dated Thursday, aired as oil prices — which have soared during the U.S.-Israeli war in Iran — fluctuated amid a fragile two-week ceasefire. "I'm fed up with the fact that families across the country see their bills go up and down on energy, businesses' bills go up and down on energy, because of the actions of Putin or Trump across the world," Starmer said. Russia invaded Ukraine in February 2022, setting off a yearslong war that has resulted in hundreds of thousands of deaths and roiled the global economy. Read more CNBC politics coverage Trump praises Hungary PM Viktor Orbán after Vance calls him at Budapest rally Bill Gates interview about Jeffrey Epstein by House Oversight set for June 10 House Democrats call on federal regulator to crack down on offshore prediction market war bets White House spokeswoman Anna Kelly defended Trump's actions. "Many world leaders have spent decades talking about the threat posed by Iran, but doing nothing about it," she said by email. "President Trump took courageous action to ensure Iran can never possess a nuclear weapon, and as he said, we are far along with a definitive agreement to deliver lasting peace." Starmer also said Israel was "wrong" to order deadly strikes on Lebanon during the ceasefire. Iran has accused the U.S. of violating the pause in hostilities, pointing in part to the Lebanon strikes. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in b...
Key PointsAvior Wealth Management sold 174,993 BSCR shares in the first quarter; the estimated transaction value was $3.45 million based on quarterly average pricing.
Key PointsAvior Wealth Management sold 174,993 BSCR shares in the first quarter; the estimated transaction value was $3.45 million based on quarterly average pricing.
Brazil is set to exhaust its annual beef export quota to China by early May, industry officials said, as cattle prices hit a nominal record and Beijing’s import restrictions forced exporters across South America to scramble for alternative markets. The benchmark price for finished cattle tracked by the Centre for Advanced Studies on Applied Economics at the University of São Paulo reached R$365 (U...
Brazil is set to exhaust its annual beef export quota to China by early May, industry officials said, as cattle prices hit a nominal record and Beijing’s import restrictions forced exporters across South America to scramble for alternative markets. The benchmark price for finished cattle tracked by the Centre for Advanced Studies on Applied Economics at the University of São Paulo reached R$365 (US$71.57) per arroba (per 11.5-15kg) on Wednesday, a gain of 12.5 per cent over the past 12 months,...
JTKPHOTOz/iStock via Getty Images The Trade Desk, Inc. ( TTD ) may serve as a clear warning regarding the stock market’s ability to send stocks to the extreme ends of the spectrum. TTD was once priced as a can’t-lose kind of growth engine but is now priced as a deep value stock. The company has plenty of hurdles ahead of it in the form of competition and potential customer turmoil, but the strong ...
JTKPHOTOz/iStock via Getty Images The Trade Desk, Inc. ( TTD ) may serve as a clear warning regarding the stock market’s ability to send stocks to the extreme ends of the spectrum. TTD was once priced as a can’t-lose kind of growth engine but is now priced as a deep value stock. The company has plenty of hurdles ahead of it in the form of competition and potential customer turmoil, but the strong balance sheet, robust GAAP profitability, and low valuation make the appeal undeniable. I reiterate my "S trong Buy" rating for the stock. TTD Stock Price I last covered TTD in January , where I rated the stock a "Strong Buy" due to the transition to a focus on profitability. The stock has been pummeled since. Data by YCharts While there are understandable reasons behind the decline, I expect the low valuation to eventually matter. TTD Stock Key Metrics TTD works with companies to help purchase advertisements on their behalf across the entire web. In the past, this was often framed as implying an expansive opportunity that goes beyond the typical “walled garden” ecosystems of names like Meta Platforms ( META ) and Alphabet ( GOOGL ). Nowadays, investors appear concerned that the rise of AI has meant that those walled gardens may end up representing more and more of the entire web. 2025 Q4 Presentation In the most recent quarter, the company generated 14% YoY revenue growth to $847 million, narrowly exceeding guidance of $840 million. The size of that beat, as well as the growth rate relative to the much larger META, arguably left a lot to be desired. The company did generate $400 million in adjusted EBITDA, beating guidance of $375 million and representing a solid 47% margin. 2025 Q4 Presentation TTD ended the quarter with $1.3 billion of cash versus no debt, representing a strong, bulletproof balance sheet. The company spent $423 million of cash to repurchase stock in the quarter. Looking ahead, management guided the company to see around $678 million of revenue and $195 m...
Chile’s pension regulator set new risk-based rules limiting the use of derivatives by pension funds known as AFPs, tightening their scrutiny after foreign interest rate positions helped buttress returns but led to concerns about potential financial strain. Two new limits are imposed, according to a press release, one on the potential exposure of their positions and another on the liquidity the fun...
Chile’s pension regulator set new risk-based rules limiting the use of derivatives by pension funds known as AFPs, tightening their scrutiny after foreign interest rate positions helped buttress returns but led to concerns about potential financial strain. Two new limits are imposed, according to a press release, one on the potential exposure of their positions and another on the liquidity the funds have available to pay any potential margin calls. The maximum exposure will be 3% for the pension fund type A and B, 2.5% for fund type C, and 2% for type D and E funds. “This regulation responds to the important development that this type of instruments has experienced in recent years and its impact on the risk profile of the pension funds,” the regulator said in the release. “The purpose of the measure is to ensure that the level of risk assumed by the pension funds through operations with derivative instruments remains within prudent margins.” Up until now, the AFPs had wagered on lower long-term rates in the US through so-called receivers, then hedged the risk by making the opposite bet in short-term rates. The receivers enabled returns on the least risky AFP fund — known as the E funds and in which fixed-income investments are concentrated — of 7.5% last year, the best performance since 2022. But this also left the asset managers exposed to a sudden jump in long-term US interest rates, which could lead to a wave of margin calls. The AFP’s use of derivatives in receiving US interest rate positions grew from 10.6 million DV01 in early 2024 to 104.5 million of DV01 as of September 2025, according to a Citi note analyzing data from the regulator. That is also far greater than their receiving positions in local Camara swaps which stood at 11.6 million of DV01, a ratio of almost 10 to 1 in exposure. Read more: Chile Pension Proposal Seeks to Limit Swaps That Boosted Returns The new liquidity requirement calls for the funds to have a coverage ratio of at least 100% for eac...
Simpleimages | Moment | Getty Images Every year, married couples decide whether to file taxes jointly or separately . That choice could impact their 2025 taxes in new ways amid changes enacted via President Donald Trump 's " big beautiful bill ." Generally, the tax code favors the married filing jointly status, which combines a couple's income, credits and deductions onto a single return. By compa...
Simpleimages | Moment | Getty Images Every year, married couples decide whether to file taxes jointly or separately . That choice could impact their 2025 taxes in new ways amid changes enacted via President Donald Trump 's " big beautiful bill ." Generally, the tax code favors the married filing jointly status, which combines a couple's income, credits and deductions onto a single return. By comparison, married filing separately creates two returns with each spouse's allocation for earnings and tax breaks. "We've seen a handful of cases where married filing separately makes sense," said financial planner Gregory Guenther, owner of Grantvest Financial Group in Matawan, N.J. "But it's usually a very specific, numbers-driven decision rather than a broad strategy." More from Women and Wealth: Expecting to fight about money with your partner? You might be wrong: study Belle Burden's 'Strangers' highlights key financial red flags for women Single women see homeownership as 'a wealth-building tool,' economist says More women pursue skilled trades — here's what some said about their experience Older women may inherit most of $54 trillion in spousal 'great wealth transfer' Couples often miss this 'overlooked tax break' for retirement savers: CFP Women and the K-shaped economy: Lower pay, affordability issues reduce spending During tax year 2023, more than 55.5 million couples opted for married filing jointly compared to about 4.1 million who filed separately, according to the latest IRS data. Typically, joint filers pay less income taxes due to wider tax brackets , which means couples can earn more before reaching the next tier. There's also a higher standard deduction, worth $31,500 for married couples filing jointly, compared to $15,750 for filing separately for 2025. The downsides of filing separately Filing separately can bring "unintended consequences," according to Lawrence Pon, a certified financial planner with advisory firm Pon & Associates in Redwood City, Calif. F...