Ralf Hahn/iStock via Getty Images By Łukasz Zembik Energy-driven surge in inflation On Tuesday, inflation data for the euro area was released. Inflation in the euro area accelerated noticeably in March, rising from 1.9% to 2.5% year-on-year. The main driver of this increase was energy prices, particularly fuels and heating oil, which reacted strongly to geopolitical tensions related to the conflic...
Ralf Hahn/iStock via Getty Images By Łukasz Zembik Energy-driven surge in inflation On Tuesday, inflation data for the euro area was released. Inflation in the euro area accelerated noticeably in March, rising from 1.9% to 2.5% year-on-year. The main driver of this increase was energy prices, particularly fuels and heating oil, which reacted strongly to geopolitical tensions related to the conflict in Iran. At the same time, core inflation, which excludes energy and food, not only failed to rise but actually edged down slightly to 2.3%. The readings came in slightly below market expectations. Impact of the war limited to the energy sector The data indicate that the increase in inflation is almost entirely due to rising energy prices. Energy price dynamics shifted from negative territory to clearly positive, directly lifting the headline inflation rate. Meanwhile, other components such as food, industrial goods, and services recorded a slowdown in price growth. This suggests that, for now, the conflict has not broadly spread across the economy. Additionally, government measures, such as tax cuts in Spain and Italy, have partially mitigated the impact of rising energy prices. Contributions to Eurozone HICP YoY% NSA (Source: Bloomberg) Lagged effects may push core inflation higher In the coming months, however, higher energy prices are expected to gradually feed through into other sectors of the economy. Rising production costs and fertilizer prices may translate into higher food and service prices, which could, with a lag, lift core inflation. Even if the conflict subsides in the near term, cost effects may persist through the end of the year, potentially leading to a renewed increase in core inflation in the fourth quarter. Limited response from the European Central Bank Despite the rise in headline inflation, the current data remain consistent with the most dovish scenario of the European Central Bank. This means that pressure for aggressive interest rate hikes is l...
Here are some of the stocks making headlines in midday trading. Tesla – The electric vehicle manufacturer lost about 4% after first-quarter deliveries fell short of expectations. Tesla reported 358,000 vehicles delivered in the period, down 14% from the prior quarter. Analysts polled by StreetAccount were looking for 370,000 deliveries. Nike – The sneaker giant dropped more than 2% and headed for ...
Here are some of the stocks making headlines in midday trading. Tesla – The electric vehicle manufacturer lost about 4% after first-quarter deliveries fell short of expectations. Tesla reported 358,000 vehicles delivered in the period, down 14% from the prior quarter. Analysts polled by StreetAccount were looking for 370,000 deliveries. Nike – The sneaker giant dropped more than 2% and headed for a second straight day of losses. Earlier this week, Nike issued a bleak outlook , calling for a 20% decline in sales in China during the current quarter. Shares had tumbled more than 15% on Wednesday. Coherent , Lumentum – The companies, makers of optical transceivers, were the top gainers in the S & P 500, heading for a third straight day of gains. Coherent was last up more than 4%, while Lumentum advanced more than 5%. Wingstop – The chicken wing chain saw shares pop about 6% on the back of an upgrade from Piper Sandler. The firm lifted its rating on Wingstop to overweight and gave it a price target of $190, citing an improving risk-reward setup. Blue Owl – The alternative asset manager slumped 1% after the company disclosed unusually high redemption requests in two of its private credit funds. Blue Owl chose to cap the requests at 5% for both funds. Oil stocks — Shares of energy companies jumped alongside the move higher in oil prices , which surged more than 10% after President Donald Trump's speech Wednesday night indicated the war in Iran would continue. Diamondback Energy gained 2%, while, APA , ConocoPhillips and Chevron all added about 1%. Cruise stocks — Major cruise operators tumbled after Trump's speech failed to outline a clear path to end the war in Iran, leading oil prices to surge and reigniting demand fears. Carnival fell 3%, while Royal Caribbean dropped 1% and Norwegian Cruise Line lost 2%. Airliners — Higher oil prices also sent airline stocks tumbling, with Delta Air Lines and Southwest Airlines falling 2%. United Airlines declined 3%. General Motors — ...
核心要点 由于用户持续取消有线电视订阅，Main Street Sports 旗下转播美国职业棒球大联盟、NBA 及 NHL 赛事的地方体育频道已濒临关停。 各大体育联盟正应对这一转型，美国职业棒球大联盟已接手十余支球队的赛事转播分发业务。 据知情人士透露，近几个月 康卡斯特 将其持有的纽约大都会队旗下频道 SNY 的股份出售给查特通信，标志着这家传媒公司进一步退出该业务领域。 尽管直播体育赛事仍...
核心要点 由于用户持续取消有线电视订阅，Main Street Sports 旗下转播美国职业棒球大联盟、NBA 及 NHL 赛事的地方体育频道已濒临关停。 各大体育联盟正应对这一转型，美国职业棒球大联盟已接手十余支球队的赛事转播分发业务。 据知情人士透露，近几个月 康卡斯特 将其持有的纽约大都会队旗下频道 SNY 的股份出售给查特通信，标志着这家传媒公司进一步退出该业务领域。 尽管直播体育赛事仍占据着电视收视率的顶端，但一批地方体育频道即将关停。这意味着曾经利润丰厚的商业模式走向消亡，地方棒球、篮球与冰球赛事的转播命运也因此悬而未决。 随着用户转向流媒体，地方体育频道可以说是受有线电视套餐用户流失冲击最严重的领域。如今，这一商业模式正快速衰落。 上周，2026 赛季美国职业棒球大联盟开赛之际，联盟宣布将接手 14 支球队的媒体转播分发业务。这很大程度上是 Main Street Sports 即将关停的必然结果 —— 该公司前身为福克斯体育网，2019 年以来几经易主，2021 年之后多次更名。 知情人士称，Main Street Sports 于 2024 年底摆脱破产保护，尽管就在去年春季还宣称订阅用户增长，但今年早些时候因需支付棒球大联盟版权费，再度遭遇流动性危机。 该公司曾拥有约 15 个频道，破产重组后一度转播 30 支棒球、冰球及篮球队的赛事。 据悉，该公司今年早些时候曾与 DAZN、Fubo 等平台洽谈出售事宜，但最终未能达成任何协议。 在 NBA 与 NHL 赛季进行期间，有关其清算的传言一度流传，但 Main Street Sports 迄今暂未走到这一步。与之相对，棒球大联盟各球队在新赛季开始后各自寻找出路：部分球队转由联盟统一分发转播权，阿纳海姆天使队、亚特兰大勇士队等则开始自行负责地方频道的制作与分发。 知情人士表示，NBA 与 NHL 常规赛预计仍将通过 Main Street 旗下现有的频道（现已更名为 FanDuel 体育频道）完成转播。但在 NBA 常规赛与 NHL 季后赛首轮结束后，该公司计划正式启动关停流程。 其余 NBA 与 NHL 球队的转播归属尚未确定，不过据接近谈判的消息人士称，部分球队可能会转投斯克里普斯等已在收购地方赛事版权的广播电视台运营商。 地方体育频道模式的终结还不止于此。 长期以来，各大体育联盟一直依靠这些频...
BING-JHEN HONG/iStock Editorial via Getty Images Introduction Taiwan Semiconductor ( TSM ) recently retreated from its all-time highs, and with the earnings coming up over the next two weeks, I wanted to give an update on what to expect and what I’m looking for, and also give some comments on why I think TSMC is not just a pure-AI play that should be in everyone’s portfolios for the long haul. Sin...
BING-JHEN HONG/iStock Editorial via Getty Images Introduction Taiwan Semiconductor ( TSM ) recently retreated from its all-time highs, and with the earnings coming up over the next two weeks, I wanted to give an update on what to expect and what I’m looking for, and also give some comments on why I think TSMC is not just a pure-AI play that should be in everyone’s portfolios for the long haul. Since the last time I covered the company back in October 2025, the company's share price has continued to perform well, gaining over 17% vs SPY's ( SPY ) 2.5% decline. With the recent decline in share price, I am maintaining my strong buy rating, and will gladly pick up more if the geopolitical landscape due to President Trump's action continues to rock the markets. What to Expect Analysts are expecting TSM to make around $3.30 in EPS on $34.88B in revenues. That is around 5% sequential growth and a whopping 38% y/y growth. The upcoming quarter will continue the trend of expanding demand for advanced nodes and will essentially cap off a full year of over $30B in revenue, setting what looks like a new floor for operating performance. In the last 90 days, there have only been four upward revisions to the EPS. And how do these numbers stack up to what management guided for in its last quarter? Management expects sales to be in the range of $34.6B-$35.8B, or $35.3B at the midpoint, with an impressive gross margin range of 63-65%, as well as 54-56% operating margin. On top of these numbers, management raised its full-year 2026 expectations and said that revenue should grow at around 30% in US dollar terms, with capex reaching $52B-$56B. So, we can see that the analysts are underestimating TSMC’s potential as they believe the company will make less than $35B, while the company itself is guiding for around $35B at the midpoint. How likely is the company to beat analysts’ expectations? If the last ten quarters are any indication, it is very likely, since it has beaten them 100% of th...
Versicherungskammer Bayern flagged millions of euros in losses linked to one of London’s biggest property developments, adding to already painful hits for the German insurer from a foray into US real estate. VKB’s annual report, published last week, shows an annual loss of €125 million ($144 million) for a holding company that invested in the Olympia Hammersmith project in London. VKB invests in a...
Versicherungskammer Bayern flagged millions of euros in losses linked to one of London’s biggest property developments, adding to already painful hits for the German insurer from a foray into US real estate. VKB’s annual report, published last week, shows an annual loss of €125 million ($144 million) for a holding company that invested in the Olympia Hammersmith project in London. VKB invests in a “broad portfolio” of assets to ensure diversification and meet requirements, a spokesperson said in a statement. Its annual reports reflect a “snapshot” on a specific date rather than a long-term outlook for any investments, which “depending on their stage of development,” may produce negative results. VKB is one of several German institutional investors trying to recoup losses after branching out into riskier parts of the real estate market during years of negative interest rates. It recently agreed to contribute additional equity to the Olympia project, alongside pension group Bayerische Versorgungskammer , or BVK. The two Bavarian institutions previously lost money in several US properties where they invested together. German Backers of Olympia to Inject £500M in Latest Financing NYC Real Estate Binge Piles Pressure on Germany’s BVK German Property Investor’s Rating Canceled After Suspension People familiar with the matter said last month that the German investors are set to contribute an additional £500 million ($661 million) of equity as part of a refinancing of Olympia. The equity commitment demonstrates the consortium’s belief in the development, they added. In addition to the losses tied to the London investment, VKB also flagged a combined €17 million hit on two Deutsche Finance-branded vehicles whose investment focus is unclear. Deutsche Finance International and Yoo Capital acquired the Olympia venue for £296 million ($391 million) in 2017, with most of the financial backing coming from the two Bavarian investors, VKB and BVK. The project involved a £1.3 billion...
Readers respond to new government advice to limit screen time to under an hour for under-fives, and restrict it to ‘slow-paced’ media content While I fully support the government’s guidance to parents of under-fives to keep screen time to under an hour a day ( Keep under-fives’ screen time to no more than an hour a day, UK advice says, 27 March ), this does not go far enough. Children do not only ...
Readers respond to new government advice to limit screen time to under an hour for under-fives, and restrict it to ‘slow-paced’ media content While I fully support the government’s guidance to parents of under-fives to keep screen time to under an hour a day ( Keep under-fives’ screen time to no more than an hour a day, UK advice says, 27 March ), this does not go far enough. Children do not only experience screens at home; they also encounter them in early childhood settings and schools. Contrary to the advice given in the new guidance for parents, the government requires all children to complete a screen-based test within their first six weeks at primary school. The Reception Baseline Assessment takes up 20 minutes of their daily screen time. Teachers are not able to interact with the child while doing the test as they must follow a script. This contradicts the advice for parents, which suggests that the best form of screen use involves adults interacting with their children while using screens. Continue reading...
onurdongel/iStock via Getty Images Plug Power ( PLUG ) up 5.3% in Thursday's trading after saying it was awarded the front-end engineering design contract to supply a 275 MW electrolyzer system for Hy2gen Canada's Courant project , in one of the company's largest electrolyzer project awards to date; financial terms were not disclosed. Hy2gen is developing the Courant project as one of North Americ...
onurdongel/iStock via Getty Images Plug Power ( PLUG ) up 5.3% in Thursday's trading after saying it was awarded the front-end engineering design contract to supply a 275 MW electrolyzer system for Hy2gen Canada's Courant project , in one of the company's largest electrolyzer project awards to date; financial terms were not disclosed. Hy2gen is developing the Courant project as one of North America's largest decarbonized ammonium nitrate facilities, supporting the mining industry's goals in Canada; Plug's ( PLUG ) scope of work on the project will include advanced engineering and system design activities to support electrolyzer integration, plant configuration, and performance optimization. The large-scale hydrogen plant will support Hy2gen’s production of low-carbon ammonia, which will then be further processed into renewable ammonium nitrate for the mining industry's explosives needs, the company said. " Being selected as the electrolyzer supplier for Hy2gen's Courant project underscores Plug's ability to support large-scale hydrogen and hydrogen-derived products," Plug Power ( PLUG ) President and CEO Jose Luis Crespo . More on Plug Power Plug Power: Some Progress But Major Headwinds Remain - Sell Plug Power: Improving Operations, Still A Hold For Me Plug Power Has Bought Time, Not Conviction
Readers respond to a report that some pub landlords are banning children after incidents of unsafe, unruly behaviour It’s fair to say the traditional British pub has always been seen as a wind-down space for adults ( ‘It dictated the whole atmosphere’: why some landlords are banning kids from pubs, 26 March ). Adult conversations, a laugh and a joke with mates and, yes, getting a little tipsy and ...
Readers respond to a report that some pub landlords are banning children after incidents of unsafe, unruly behaviour It’s fair to say the traditional British pub has always been seen as a wind-down space for adults ( ‘It dictated the whole atmosphere’: why some landlords are banning kids from pubs, 26 March ). Adult conversations, a laugh and a joke with mates and, yes, getting a little tipsy and merry without having to worry about the responsibility of looking after, or even maintaining decorum in front of, the children. As adults we don’t dive into the ball pits at McDonald’s, or invade playgrounds to go on the swings or see-saws, even for a laugh, because it’s not our space. Continue reading...
It’s annoying when no one listens to you. I see it on the face of my eight-year-old as people talk over her: the frustration, the impatience, the no doubt crucial and fascinating story about what happened to Jake at the end of free-play just bursting to get out. We all remember the feeling, and right now Andrew Bailey is re-living this childhood exasperation. You’d think that when the Bank of Engl...
It’s annoying when no one listens to you. I see it on the face of my eight-year-old as people talk over her: the frustration, the impatience, the no doubt crucial and fascinating story about what happened to Jake at the end of free-play just bursting to get out. We all remember the feeling, and right now Andrew Bailey is re-living this childhood exasperation. You’d think that when the Bank of England governor repeatedly tells the market that it’s pricing in too many rate hikes, the market might react in some way. But it is not. Indeed, it is doing the opposite. Gilts underperformed most other government bonds today, despite Bailey’s latest attempt to correct the hawkish reaction to the Bank’s March meeting. “We would take Governor Bailey’s guidance with a pinch of salt,” one City analyst explained. “I was not a fan of those remarks,” snapped another, arguing that Bailey is “a week behind” with his pleas to be heard. This all started two weeks ago today. At the time, markets really did listen when the Bank said it was ready to act over inflation. Rate bets soared in the seconds after the release , but since then efforts to lean a bit in the other direction have largely been ignored. Several of Bailey’s colleagues — doves and hawks alike — have tried to temper expectations, but they, like children around the family table, are drowned out by whatever Uncle Donald from America is harping on about now. If I had a dollar for every time our markets team here at Bloomberg News has said “no, it’s only moved on Trump” in the last couple of weeks, I’d have enough to buy a barrel of crude . Those of us on the economics desk keep asking them if UK factors are moving the dial at all, and they keep wearily shaking their heads while raising a finger toward the metaphorical sign on the wall that says: Check President’s Latest Post on Truth Social. So, it’s a BOE v The Markets standoff — and we’ve been here before. Back in 2022, during the aftershocks of the Liz Truss crisis, the Ban...
Activists accuse Iran’s regime of crackdown on civil society as whereabouts of Nasrin Sotoudeh are unknown Is Iran using the war to hide a surge in executions? The prize-winning Iranian human rights lawyer Nasrin Sotoudeh has been arrested in Tehran, according to her family, as activists accused the regime of cracking down on civil society under cover of the war with Israel and the US. Sotoudeh’s ...
Activists accuse Iran’s regime of crackdown on civil society as whereabouts of Nasrin Sotoudeh are unknown Is Iran using the war to hide a surge in executions? The prize-winning Iranian human rights lawyer Nasrin Sotoudeh has been arrested in Tehran, according to her family, as activists accused the regime of cracking down on civil society under cover of the war with Israel and the US. Sotoudeh’s daughter Mehraveh Khandan said her mother was taken from her home in Tehran late on Wednesday and that her whereabouts were unknown. Khandan suspected the arrest may be related to recent interviews about the war, in which Sotoudeh criticised the government. Continue reading...
The case for cats wearing collars is compelling, and should be supported by veterinary organisations, writes Trevor Lawson While Sir David Attenborough’s latest series might enrage cat lovers by recommending that cats wear bells to reduce wildlife mortality ( ‘We didn’t want to be preachy’: David Attenborough’s unexpected new show – which might enrage cat lovers, 31 March ), a bigger question is w...
The case for cats wearing collars is compelling, and should be supported by veterinary organisations, writes Trevor Lawson While Sir David Attenborough’s latest series might enrage cat lovers by recommending that cats wear bells to reduce wildlife mortality ( ‘We didn’t want to be preachy’: David Attenborough’s unexpected new show – which might enrage cat lovers, 31 March ), a bigger question is why pet organisations including Cats Protection and the People’s Dispensary for Sick Animals (PDSA) don’t do the same. Even though quick-release collars have been available for years, these organisations recommend that cats should not wear collars. They claim – without statistical evidence of significant risk – that collars can snag, rub or trap paws. A study in the US found that only 3.3% of cats experienced these problems with collars, and these issues can be addressed by ensuring the collar is correctly fitted and the cat is given time to adjust to it. There was no evidence of actual serious injury or death. Continue reading...
SweetBunFactory/iStock via Getty Images Ambarella, Inc. ( AMBA ) is setting its sights on high-impact markets for its edge AI infrastructure, particularly as it relates to reindustrialization and industrial automation & robotics. With its new deployable edge AI orchestration hardware & software stack becoming available later in eFY27, Ambarella is positioning itself to facilitate cloudless robotic...
SweetBunFactory/iStock via Getty Images Ambarella, Inc. ( AMBA ) is setting its sights on high-impact markets for its edge AI infrastructure, particularly as it relates to reindustrialization and industrial automation & robotics. With its new deployable edge AI orchestration hardware & software stack becoming available later in eFY27, Ambarella is positioning itself to facilitate cloudless robotics orchestration that may create substantial value as more factory floors adopt automation technology. With a strong market opportunity at hand, I am recommending shares with a price target of $84.28/share at 6.60x eFY28 price/sales. From a tactical standpoint, investors should consider pricing shares lower in the near future as the selloff may continue until Q1 ’27. Ambarella Operational Update Ambarella is realizing substantial growth in demand for its 5nm chips designed for edge-AI applications, particularly for automotive and IoT. The driving factor for growth was increased adoption of its CV75 and CV72 chips. These chips were purpose-built for an industrial AI-type setting, performing advanced video capture and multi-modal vision-language model workloads as a low-powered product. The advanced nodes allow for zero-shot image classification and multi-modal inferencing for real-time visual analytics, a valuable offering for industrial settings. What makes these chips stand out is that no training is necessary for them to be functional, meaning that they can be deployed and provide value almost immediately. Ambarella announced the next generation chip in January 2026 , the CV7 edge AI vision system-on-chip [SoC] that provides AI-based 8k video which can be used in cameras, drones, automotive, and for industrial automation. The chips provide 360-degree surround-view and video recording applications that can be leveraged in ADAS systems in vehicles. These chips were designed on Samsung’s ( SSNLF ) 4nm process technology and consume 20% less power when compared to their predec...
Tracy Marshall describes how the worrying natter of her internal world, thankfully, fell silent I was delighted to read Polly Hudson’s article on overthinkers like me ( Faithful, sensitive, forgiving: overthinkers like me make the best partners, 29 March ). I am 51 now and have spent most of my life at the mercy of my ability to “turn even the most pleasant, benign interaction into a horrifying en...
Tracy Marshall describes how the worrying natter of her internal world, thankfully, fell silent I was delighted to read Polly Hudson’s article on overthinkers like me ( Faithful, sensitive, forgiving: overthinkers like me make the best partners, 29 March ). I am 51 now and have spent most of my life at the mercy of my ability to “turn even the most pleasant, benign interaction into a horrifying encounter that definitely caused offence”. Someone once described me as a sentinel – forever observing and analysing myself and, as a result, never actually living in the moment and enjoying the freedom from guilt and shame and self-loathing that the under- and perfect-level thinkers around me appeared to achieved without effort. Continue reading...