martinrlee/iStock Editorial via Getty Images Echoes Of The Past: Disruption of Western Union Founded in 1851, The Western Union Company( WU ) enjoyed decades of prosperity from its monopoly status in telegraph until the rise of the telephone, led by the Bell Telephone Company, disrupted its monopoly. Western Union famously downplayed the potential of the Telephone. Afterward, corporate events, inc...
martinrlee/iStock Editorial via Getty Images Echoes Of The Past: Disruption of Western Union Founded in 1851, The Western Union Company( WU ) enjoyed decades of prosperity from its monopoly status in telegraph until the rise of the telephone, led by the Bell Telephone Company, disrupted its monopoly. Western Union famously downplayed the potential of the Telephone. Afterward, corporate events, including the divestiture of its telegraph, bankruptcy, and restructuring, would give birth to today's Western Union, a market leader in money remittances, to immigrants, whom they deem as 'Aspiring Population.' However, the company would again come full circle as it faces another disruptive challenge, as pure digital, more flexible fintech companies like Wise continue to gain market share in its traditional retail remittance business. This is evident in Western Union's declining take rate(Remittance Revenue / Remittance Transaction Volume) since 2019. Western Union Take Rate (Author's Compilation) According to research by the World Bank, digital remittances are generally cheaper than traditional remittances, and digital transactions now account for 60% of total remittance transfers. This pricing pressure led to the divergence of Western Union's remittance volume and revenue, where despite growing its volume, the company's revenue hasn't kept the same pace. Western Union Remittance Volume and Revenue (Author's Compilation) Therefore, it is imperative for Western Union to change course to remain relevant in this increasing competition. To turn the company around, Western Union adopted a digital-first, retail-enabled operating model, refocused on its consumer business, introduced dynamic pricing, and doubled down on its consumer. Strategic Shift Refocusing on Consumer Business A classic turnaround initiative, Western Union divested its B2B segment, enabling it to focus on its core consumer money transfer operation. I'm always a proponent of a focus strategy, and this is what I l...
Money managers including T. Rowe Price Group Inc. are looking for bargains among mortgage bonds after the war in Iran and gyrating bond yields clobbered the securities over the last month. Notes weakened across the board in March, though mortgage bonds have performed worse than Treasuries for the last few months. Spreads on current coupon mortgage-backed securities, the bonds currently being sold ...
Money managers including T. Rowe Price Group Inc. are looking for bargains among mortgage bonds after the war in Iran and gyrating bond yields clobbered the securities over the last month. Notes weakened across the board in March, though mortgage bonds have performed worse than Treasuries for the last few months. Spreads on current coupon mortgage-backed securities, the bonds currently being sold by mortgage lenders, widened to about 1.25 percentage point by March 31, from 0.94 percentage point in late January. In comparison, the average for the last six months is closer to about 1.15 percentage point. The war in Iran has made investors less certain about the direction of interest rates. That’s weighed on mortgage bond performance, because if rates are less predictable, money managers may find themselves getting interest and principal back much sooner than expected, or much later. But those interest-rate gyrations could settle in the coming months, or even in the coming weeks, if the importance of the Iran war fades in the global economy. On top of that, US President Donald Trump ordered Fannie Mae and Freddie Mac to purchase $200 billion of mortgage bonds, which will probably prevent valuations from getting too weak. And banks may buy more of the securities after proposed easing of capital rules. “We believe agency MBS is an attractive sector at the moment, primarily because recent volatility has created price dislocations in portions of the market which a nimble active manager can exploit,” said Maulik Bhansali , senior portfolio manager and co-head of core fixed income at Allspring Global Investments LLC . “We have seen some buying activity from smaller banks, but if the larger banks step in, MBS should be well supported,” he said, referring to easing rules. Mortgage bonds gained 8.6% last year, including both price changes and interest payments, the highest in 23 years according to a Bloomberg index . The bonds outperformed Treasuries earlier this year, though t...
It's rough out there for the pure EV companies, but despite all the challenges, Rivian says its on target for a historic year. Ahead of the launch of the company's more affordable R2 electric SUV , Rivian released its sales and production report for the first quarter of 2026. And the numbers were surprisingly good. Rivian sold 10,365 vehicles in the first three months of the year, a 20 percent inc...
It's rough out there for the pure EV companies, but despite all the challenges, Rivian says its on target for a historic year. Ahead of the launch of the company's more affordable R2 electric SUV , Rivian released its sales and production report for the first quarter of 2026. And the numbers were surprisingly good. Rivian sold 10,365 vehicles in the first three months of the year, a 20 percent increase year over year. And it produced 10,236 vehicles at its factory in Normal, Illinois, which represents a 30 percent increase compared to the same period last year. The company also reaffirmed its prediction that it will sell 62,000-67,000 vehic … Read the full story at The Verge.
When Coachella returns to YouTube next week, the music festival will be offering more than just live performances. Viewers will also be able to tune into something YouTube calls Stations - 24/7 linear streams preprogrammed with videos from artists performing at the festival, perfect for playing in the background or vegging out on the couch. Stations are essentially YouTube's take on FAST channels ...
When Coachella returns to YouTube next week, the music festival will be offering more than just live performances. Viewers will also be able to tune into something YouTube calls Stations - 24/7 linear streams preprogrammed with videos from artists performing at the festival, perfect for playing in the background or vegging out on the couch. Stations are essentially YouTube's take on FAST channels : free linear streaming TV channels that have gained popularity on services like Pluto and The Roku Channel, and are now baked into the EPGs of most smart TV operating systems. One of the reasons FAST channels have become so popular is that they br … Read the full story at The Verge.
MF3d/iStock via Getty Images President Trump’s national address seemed to contain little more than a reading of some of his recent social media posts. The market was eager for some sign of confirmation of its hope that had buoyed the capital markets in the last couple of sessions. It found none. The threat of escalating attacks while reiterating that the US military operation can wind down in the ...
MF3d/iStock via Getty Images President Trump’s national address seemed to contain little more than a reading of some of his recent social media posts. The market was eager for some sign of confirmation of its hope that had buoyed the capital markets in the last couple of sessions. It found none. The threat of escalating attacks while reiterating that the US military operation can wind down in the next two-three weeks failed to underpin sentiment ahead of what will be a long holiday weekend for many. Risk appetites have been squashed. Equities and bonds have tumbled. The US dollar has surged. The Trump administration is likely to be disappointed with the market’s reaction, and some damage control may be attempted today, but ahead of the long weekend, which begins tomorrow for many financial centers, some of which will remain closed on Monday as well, it will be difficult to rebuild the animal spirits. Fear now overwhelms hope that had held center stage for the past couple of sessions. Prices G10 • The euro stalled yesterday ahead of last week’s highs in the $1.1630-40 area. Short-term players may have cut their longs after a 1.5-cent rally in two sessions, ahead of President Trump’s address. The retreat extended to about $1.1515 today, which meets a retracement target of this week’s recovery from around $1.1445. Nearby support may be in the $1.1485-$1.1500 area. Note that options for 720 mln euros at $1.1513 and 2 bln at $1.1500 expire today. • From Monday’s high to yesterday’s low, the dollar fell about 1.35% against the Japanese yen. This breaks the one-way market that Japanese officials commented on; the dollar climbed four days in a row last week. The risk-off and jump in US yields have helped lift the greenback to almost JPY159.75 today, and once again JPY160 comes into view. Options for nearly $1.5 bln struck there expire today. Initial support is seen in the JPY159.35 area. • Sterling peaked 1/100 of a cent below last Friday’s high yesterday, according to Bloo...
EMJ Capital founderiEric Jackson joins Yahoo Finance Executive Editor Brian Sozzi, Ines Ferré, and Jared Blikre to discuss whether energy (XLE) stocks still have room to run and how they stack up against beaten-down Big Tech names.
EMJ Capital founderiEric Jackson joins Yahoo Finance Executive Editor Brian Sozzi, Ines Ferré, and Jared Blikre to discuss whether energy (XLE) stocks still have room to run and how they stack up against beaten-down Big Tech names.
Gulf Energy Shock Spreads To Global Plastics As War Sparks Force Majeure Wave Building on our earlier " Global Demand Destruction " note, which mapped how the Gulf energy shock is spreading globally and the immediate effects of rationing, price controls, and fuel shortages, another second-order disruption is quickly emerging: supply chain disruptions in critical plastic feedstocks. Plastics are co...
Gulf Energy Shock Spreads To Global Plastics As War Sparks Force Majeure Wave Building on our earlier " Global Demand Destruction " note, which mapped how the Gulf energy shock is spreading globally and the immediate effects of rationing, price controls, and fuel shortages, another second-order disruption is quickly emerging: supply chain disruptions in critical plastic feedstocks. Plastics are core to the modern economy, and a troubling new Bloomberg report indicates that several producers of monoethylene glycol (MEG) and purified terephthalic acid (PTA) have declared force majeure , as tanker flows through the Strait of Hormuz remain heavily disrupted. For context , MEG and PTA are the two primary feedstocks used to produce polyethylene terephthalate (PET) and polyester fibers. These petrochemicals are critical to the production of everyday consumer goods that make life in the developed world convenient, including plastic bottles, food packaging, clothing, home furnishings, and a wide range of consumer and industrial goods. More specifically, MEG is used in the production of polyester yarn, polyester staple fiber, PET resin, and PET film. It also plays a critical role in antifreeze, coolants, adhesives, coatings, and enamels. In other words, MEG and PTA are foundational petrochemical building blocks for the modern economy. Any sustained disruption to these flows would be detrimental to the global economy. Which brings us to the supply alarm bells already beginning to ring, courtesy of Bloomberg: Oriental Union Chemical Corp . warned US customers it would temporarily suspend MEG shipments for early March. The suspensions would persist until conditions stabilize, the Taipei-based company wrote in a customer letter. After March 11, shipments to customers continued as normal, with monthly pricing adjusted to reflect higher crude costs: Spokesperson Daniel Yu Ethylene oxide and ethylene glycol sales are mainly for customers on long-term contracts, he added. As disrupti...
Investing.com -- Global mergers and acquisitions (M&A) activity surged in the first quarter of 2026, but dealmaking in software companies, which have seen their valuations decline recently due to AI disruption fears, has slowed.
Investing.com -- Global mergers and acquisitions (M&A) activity surged in the first quarter of 2026, but dealmaking in software companies, which have seen their valuations decline recently due to AI disruption fears, has slowed.
How much have food prices, such as rice, gone up since the Iran war started? Not as much as you might think, Bloomberg Opinion columnist Javier Blas explains. (Source: Bloomberg)
How much have food prices, such as rice, gone up since the Iran war started? Not as much as you might think, Bloomberg Opinion columnist Javier Blas explains. (Source: Bloomberg)
Context Therapeutics ( CNTX ) added ~11% on Thursday after the cancer drug developer said that the U.S. Food and Drug Administration (FDA) issued its Fast Track Designation to CTIM-76, the lead asset of the company. The designation covers the development work related to CTIM-76 in patients with platinum-resistant ovarian cancer who have undergone all available standard of care drugs. A Phase 1b tr...
Context Therapeutics ( CNTX ) added ~11% on Thursday after the cancer drug developer said that the U.S. Food and Drug Administration (FDA) issued its Fast Track Designation to CTIM-76, the lead asset of the company. The designation covers the development work related to CTIM-76 in patients with platinum-resistant ovarian cancer who have undergone all available standard of care drugs. A Phase 1b trial for the T cell-engaging bispecific antibody for patients with CLDN6-positive advanced or metastatic ovarian, endometrial, and testicular cancers is currently underway, with its interim data expected in June. The FDA's fast-track designation permits expedited development and review of drugs targeting serious conditions with unmet medical needs. It enables developers to communicate frequently with the regulator regarding their plans for clinical studies. Subject to certain conditions, companies with fast-track designations can secure the FDA's accelerated approval and priority review, paving the way for a swifter market launch of their products . More on Context Therapeutics Seeking Alpha’s Quant Rating on Context Therapeutics Historical earnings data for Context Therapeutics Financial information for Context Therapeutics
jetcityimage/iStock Editorial via Getty Images Shares of American Financial Group ( AFG ) have been a poor performer over the past year, losing about 3% of their value. While AFG has a history of strong underwriting, results have been more mixed over the past year, which has pressured shares, especially given broader fears of peak profitability in the industry. Beyond this, its exposure to apartme...
jetcityimage/iStock Editorial via Getty Images Shares of American Financial Group ( AFG ) have been a poor performer over the past year, losing about 3% of their value. While AFG has a history of strong underwriting, results have been more mixed over the past year, which has pressured shares, especially given broader fears of peak profitability in the industry. Beyond this, its exposure to apartment rentals within its investment portfolio has been a headwind, though its lack of private credit exposure is an important differentiator. I last covered shares in November , rating the stock a “ H old,” and since then they have lost about 2%, in line with the market’s 3% decline. Seeking Alpha Now, the insurance sector is a large investor in private credit, which has been a headwind for performance given growing fears of a default cycle. However, this is less of a concern for AFG, which maintains a conservative fixed income portfolio. Within its $17 billion investment portfolio, 65% sits in fixed income, and 96% of that portfolio is investment grade. The portfolio is also relatively short-dated with a 2.9 year maturity and a 5.11% yield. I expect the portfolio yield to finish this year within 5bps of current levels. American Financial That said, it has some exposures to be mindful of, notably $1.2 billion of CLOs (collateralized loan obligations), which are vehicles supported by a pool of leveraged loans. However, essentially the entire portfolio is rated AAA, and the AAA tranche of a CLO has never taken a loss, not even in 2008-2009. I do not expect this to change, and I see little risk here. While there has been concern about excessive direct lending to software companies, just 1.5% of the portfolio, or $249 million, is loans to the entire technology sector, only a subset of which would be software. AFG simply does not have that much exposure to the portions of the credit market that have sparked so much fear. That is because it has historically taken its investment risk...