Iraq has told Asian traders and refiners they can load its crude as vessels carrying the country’s oil are now able to transit the Strait of Hormuz thanks to an Iranian exemption, testing buyers’ confidence in the security guarantee. In a notice sent on Sunday, the country’s State Organization for Marketing of Oil, known as SOMO, said Iraqi shipments were now “exempt from any potential restriction...
Iraq has told Asian traders and refiners they can load its crude as vessels carrying the country’s oil are now able to transit the Strait of Hormuz thanks to an Iranian exemption, testing buyers’ confidence in the security guarantee. In a notice sent on Sunday, the country’s State Organization for Marketing of Oil, known as SOMO, said Iraqi shipments were now “exempt from any potential restrictions,” citing media reports. It asked buyers for lifting schedules, including vessel details and volumes requested, adding all loading terminals including Basrah were “fully operational.” Customers were given 24 hours to respond. SOMO didn’t immediately respond to a request for comment. It’s not immediately clear if the reported arrangement will apply to all Iraqi oil, or just the nation’s tankers. Buyers expressed caution about the move. Iran said over the weekend that its neighbor was now exempt from shipping restrictions around the vital waterway. The country’s military spokesman did not provide details on which tankers or cargoes would be covered, but tanker Ocean Thunder , carrying a million barrels of Iraqi crude, crossed the narrow waterway on Sunday. Iraq often sells oil on a free-on-board basis, meaning refiners sort out their own shipping, but it has struggled to export crude since the effective closure of Hormuz a month ago. Read More: Iran Says Iraqi Ships Are Allowed to Use Strait of Hormuz Asian buyers reached by Bloomberg said they were seeking clarity on conditions, including whether Iraq would offer the use of its own tankers, thereby providing extra security through Hormuz. They asked not to be named, as they are not authorized to speak to the media. Aside from a pipeline system that crosses Turkey, Iraq has only limited ability to work around the narrow waterway connecting the Persian Gulf with the world. Iraqi oil exports plunged by roughly 97% to a daily average of 99,000 barrels in March from the prior month. Transits through the critical waterway have be...
The Japanese government is arranging summit talks with Iran, Prime Minister Sanae Takaichi said on Monday, with tensions mounting in the Middle East as US President Donald Trump’s deadline for Iran to open the Strait of Hormuz approaches. “We are preparing dialogues at the leadership level at an appropriate time,” Takaichi told a parliamentary committee when asked by an opposition lawmaker about J...
The Japanese government is arranging summit talks with Iran, Prime Minister Sanae Takaichi said on Monday, with tensions mounting in the Middle East as US President Donald Trump’s deadline for Iran to open the Strait of Hormuz approaches. “We are preparing dialogues at the leadership level at an appropriate time,” Takaichi told a parliamentary committee when asked by an opposition lawmaker about Japan’s diplomatic efforts regarding the US-Israeli war with Iran. “Japan will make every effort...
American crosses in 13.15s ahead of Australia’s Charlotte Nielsen Olufemi Komolafe wins men’s final without US’s Christian Coleman American sprint queen Sha’Carri Richardson has lived up to her star status as she chased down the field off scratch to win the 2026 Stawell Gift in a thrilling finish. The Olympic 100m silver medallist and sixth-fastest woman in the world joined hundreds of local spect...
American crosses in 13.15s ahead of Australia’s Charlotte Nielsen Olufemi Komolafe wins men’s final without US’s Christian Coleman American sprint queen Sha’Carri Richardson has lived up to her star status as she chased down the field off scratch to win the 2026 Stawell Gift in a thrilling finish. The Olympic 100m silver medallist and sixth-fastest woman in the world joined hundreds of local spectators and athletes in the small rural town 200km north-west of Melbourne on Monday to take part in the handicap race for the first time. Continue reading...
In this article US10Y .SPX Follow your favorite stocks CREATE FREE ACCOUNT US President Donald Trump during a prime-time address to the nation in the Cross Hall of the White House in Washington, DC, US, on Wednesday, April 1, 2026. Alex Brandon | Bloomberg | Getty Images Investors are caught between positioning for a swift deal that ends the war and a significant escalation that could send oil pri...
In this article US10Y .SPX Follow your favorite stocks CREATE FREE ACCOUNT US President Donald Trump during a prime-time address to the nation in the Cross Hall of the White House in Washington, DC, US, on Wednesday, April 1, 2026. Alex Brandon | Bloomberg | Getty Images Investors are caught between positioning for a swift deal that ends the war and a significant escalation that could send oil prices and bond yields soaring further as they start a holiday-thinned trading week. President Donald Trump issued a profanity-laden ultimatum on Sunday , warning Iran it would be "living in Hell" if the Strait of Hormuz isn't reopened by Tuesday, 8 p.m. ET, declaring it "Power Plant Day, and Bridge Day, all wrapped up in one." Separately, in an interview with Fox News on Sunday, Trump said he was hopeful that there was a "good chance" for a deal to be reached by Monday. Conflicting signals have set up a week in which investors are forced to position for starkly divergent outcomes. Meanwhile, Iran has rejected Trump's latest threats , saying that the critical waterway would only reopen fully after Tehran is compensated for the damage from the war, as it continued strikes across the Gulf over the weekend, including Kuwait's oil headquarters. "Markets are on edge, as time is running out and the outcomes are binary — truce or escalation," said Rob Subbaraman, head of global macro research at Nomura. Trump's tone nonetheless suggested a degree of urgency in the White House to bring the war to an end, Subbaraman said, as investors continued their positioning to "hedge the escalation risk." Trump has been vacillating between hailing talks with Iran as productive with a peace deal imminent, and warning that he's prepared to intensify military action against the Islamic Republic. He has repeatedly extended the deadline for Iran to reopen the Strait of Hormuz. Mixed messaging has led to market volatility accompanied by choppy oil trading. The S&P 500 gained 3.4% last week, logging its ...
herstockart Coinbase ( COIN ) said it has secured conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust company charter, a move that could expand its role in the financial system. The approval applies to Coinbase National Trust Company, a non-insured national trust bank headquartered in New York. The move has drawn sharp criticism from the...
herstockart Coinbase ( COIN ) said it has secured conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust company charter, a move that could expand its role in the financial system. The approval applies to Coinbase National Trust Company, a non-insured national trust bank headquartered in New York. The move has drawn sharp criticism from the Independent Community Bankers of America (ICBA), which urged regulators to reject the application, calling the decision a “grave mistake” that could expose consumers and the financial system to heightened risks. "The agency lacks statutory authority to expand non-fiduciary trust powers and that the sudden influx of applications demonstrates nonbank entities are seeking the benefits of a U.S. bank charter without satisfying the full scope of U.S. bank regulations — threatening consumers and the financial system," ICBA explained . The group argued that Coinbase’s ( COIN ) proposal does not meet the standards required under U.S. banking law and flagged concerns around risk controls and financial viability. "Coinbase is not becoming a commercial bank. We will not be taking retail deposits. We will not be engaging in fractional reserve banking. This charter is about bringing federal regulatory uniformity to the custody and market infrastructure business we have been building for years." Coinbase Co-CEO Greg Tusar said . Coinbase ( COIN ) had submitted its application for a national trust charter in October, joining other cryptocurrency firms such as Ripple, World Liberty Financial, and EDX in pursuing federal approvals. A full approval from the OCC would enable the company to operate as a federally regulated crypto custodian, providing greater assurance to large institutions seeking to hold digital assets. More on Coinbase Coinbase: The Latest Initiatives Change Everything (Rating Upgrade) Coinbase: Q1 Guidance Was A Clearing Event Coinbase: 'Everything Exchange' Is A Game Chan...
Getty Images Shares of HMH Holding ( HMH ) have seen a soft public offering. That is surprising. As a supplier to the oil & gas industry, that was just about the only reason why its IPO has been able to go forward in current market conditions. All this makes me rather intrigued here, as valuations were non-demanding as shares have fallen a bit since the offering. A mere 10 times earnings multiple ...
Getty Images Shares of HMH Holding ( HMH ) have seen a soft public offering. That is surprising. As a supplier to the oil & gas industry, that was just about the only reason why its IPO has been able to go forward in current market conditions. All this makes me rather intrigued here, as valuations were non-demanding as shares have fallen a bit since the offering. A mere 10 times earnings multiple looks compelling, as current conditions should logically set the business up for future growth. If that were to happen, current modest valuations and modest leverage would make me intrigued to learn more about the situation here. Other, higher conviction ideas, including recent M&A efforts, can be found at Value In Corporate Events . An Energy Supplier HMH provides highly engineered and mission-critical equipment solutions with a portfolio of drilling equipment and related services used in oil and gas drilling (both onshore and offshore). However, the offshore business is the dominant market, making up 75% of the installed base of equipment, benefiting from greater regulation and more advanced products and solutions. The company offers a broad range of products and services. Projects and product sales make up just over a quarter of sales. Aftermarket services, which are designed to improve the lifespan, safety, and efficiency of rig fleets, make up nearly half of sales, complemented by the sale of spare parts, which make up just over a quarter of sales. Actual products to think of include drilling equipment, drilling lifecycle services, training, mining equipment, construction equipment, etc. The business was created in the fall of 2021 when Baker Hughes ( BKR ) combined its subsea drilling systems business with similar activities from Akastor ASA, a Norwegian giant in this world. These parent companies each hold about half of the shares here. The company expects to benefit from years of underinvestment in the industry, and such investments are seen rising, driven by a part...
tadamichi Asian equity markets traded mixed in thin holiday trading as President Trump renewed his ultimatum to Iran, threatening to attack its civilian infrastructure if it does not open the Strait of Hormuz, a key route for a substantial portion of the world’s oil and gas. The US and Iran are discussing a potential 45-day truce to end ongoing conflict. Gold prices slid toward $4,600 per ounce on...
tadamichi Asian equity markets traded mixed in thin holiday trading as President Trump renewed his ultimatum to Iran, threatening to attack its civilian infrastructure if it does not open the Strait of Hormuz, a key route for a substantial portion of the world’s oil and gas. The US and Iran are discussing a potential 45-day truce to end ongoing conflict. Gold prices slid toward $4,600 per ounce on Monday, extending losses from the prior session. WTI crude futures fell toward $111 per barrel on Monday after climbing as high as $115.5 earlier in the session, as reports of a potential Middle East ceasefire weighed on prices. The benchmark KOSPI rose more than 1% to around 5,460 on Monday. The South Korean Japan ( NKY:IND ) rose 1.34% to above 53,370 while the broader Topix Index gained 0.3% to 3,655 on Monday. The Japanese yen traded around 159.5 per dollar on Monday, near its weakest levels since July 2024. Separately, traders are closely monitoring for potential currency intervention from Tokyo after recent strong warnings from officials. China's ( SHCOMP ) stock markets closed. Hong Kong ( HSI ) stock markets closed. India ( SENSEX ) fell 0.52% to below 73,167 in early trade on Monday, reversing gains from the previous two sessions. The Indian rupee fell to around 92.8 per dollar, retreating after a brief stabilization. India last Thursday exempted imports of critical petrochemical products from customs duty for three months till June 30, giving relief to sectors such as pharmaceuticals, chemicals, and textiles, and helping ensure supply stability amid Middle East conflict, as the Economic Times reported. On the macro front, HSBC Composite and Services PMI final data for March are due later in the day, with expectations of 56.5 and 57.4, respectively. Australia ( AS51 ) markets closed. The Australian dollar hovered around $0.691, trading near a two-month low hit last week. In the U.S. on Thursday, all three major indexes ended mixed as investors stayed cautious goin...
The jungle legends reunite in the South African wilderness. Plus: Stefan Golaszewski’s powerful drama Babies. Here’s what to watch this evening 9pm, ITV1 Time for the latest instalment of what is essentially a jungle legends competition – although no amount of bouncy banter from Ant and Dec can stop this format from feeling increasingly tired. Heading back into the South African wilderness for mor...
The jungle legends reunite in the South African wilderness. Plus: Stefan Golaszewski’s powerful drama Babies. Here’s what to watch this evening 9pm, ITV1 Time for the latest instalment of what is essentially a jungle legends competition – although no amount of bouncy banter from Ant and Dec can stop this format from feeling increasingly tired. Heading back into the South African wilderness for more bonding and humiliation are Adam Thomas, Scarlett Moffatt, David Haye, Sinitta, Mo Farah and more. Eventually, in a live final, the public will decide who has irritated them the least. Phil Harrison Continue reading...
Traffic at the Hong Kong–Zhuhai–Macau Bridge reached peak levels during the first two days of the Easter and Ching Ming holidays, with checkpoint queues sometimes exceeding an hour, raising concerns about whether current clearance arrangements can handle surging demand. Passenger flows exceeded 192,000 over the first two days, while vehicle numbers surpassed 30,000, marking one of the busiest peri...
Traffic at the Hong Kong–Zhuhai–Macau Bridge reached peak levels during the first two days of the Easter and Ching Ming holidays, with checkpoint queues sometimes exceeding an hour, raising concerns about whether current clearance arrangements can handle surging demand. Passenger flows exceeded 192,000 over the first two days, while vehicle numbers surpassed 30,000, marking one of the busiest periods at the cross-boundary bridge in recent years, Ringo Lee Yiu-pui, honorary life president of the...
Zhicheng Qin/iStock Unreleased via Getty Images I am always looking to cover new companies in the aerospace and defense industries. Hot topics in the industry currently are space, hypersonics, drones, counter-drone solutions, and missiles and missile defense, as well as autonomy & AI. In the frame of autonomy and AI, Merlin, Inc. ( MRLN ) made its debut as a company last month in an IPO, raising $...
Zhicheng Qin/iStock Unreleased via Getty Images I am always looking to cover new companies in the aerospace and defense industries. Hot topics in the industry currently are space, hypersonics, drones, counter-drone solutions, and missiles and missile defense, as well as autonomy & AI. In the frame of autonomy and AI, Merlin, Inc. ( MRLN ) made its debut as a company last month in an IPO, raising $200 million . In this report, I have a deeper look at Merlin Labs, discussing the company’s product and assessing whether there is an attractive investment angle. Merlin Labs Aims to Infuse Autonomy and AI into Flight Merlin Labs was founded in 2017 by Matt George, who previously founded Burdge, which is a mobility company. Merlin Labs goal is to revolutionize aerospace with AI-powered autonomy. The company’s main product is Merlin Pilot, which is a combination of hardware and software to fly, navigate, and communicate. In some way, it does not sound like AI or full autonomy at all, and I believe that is for the best. Many companies are trying to infuse, but especially with flying and certification of systems, we note that certification regulations are slow to adapt to new trends. Getting Merlin Pilot certified is also the biggest challenge the company will likely face. From what I read about Merlin Pilot, it is not the type of AI deployment we see today. Today, AI is more than a buzzword, but we also see it deployed everywhere without companies questioning its use or use case. Merlin Labs is more methodical in that regard, as they mention on their website: Merlin approaches autonomy as a series of questions about legacy constraints. This allows us to devise AI solutions from the ground up. We believe in methodically scaling these innovations through real world testing and certification. They also have a road map that makes a lot of sense, going from single-engine aircraft to multi-engine to military transport class to military tankers. For single-engine and multi-engine, f...
In the field for this week's 90th Masters there will be no player seeking a first Augusta crown with a better pedigree than Justin Rose, writes Iain Carter.
In the field for this week's 90th Masters there will be no player seeking a first Augusta crown with a better pedigree than Justin Rose, writes Iain Carter.
Tools used by a criminal syndicate, seized by a special task force of the Taizhou Public Security Bureau’s Jiaojiang branch targeting loan broker fraud. Photo: Taizhou Daily Chinese authorities have launched a sweeping new crackdown on illicit financial practices, taking aim at predatory online lenders and loan brokers as part of a broader campaign to root out a sprawling underworld of consumer fr...
Tools used by a criminal syndicate, seized by a special task force of the Taizhou Public Security Bureau’s Jiaojiang branch targeting loan broker fraud. Photo: Taizhou Daily Chinese authorities have launched a sweeping new crackdown on illicit financial practices, taking aim at predatory online lenders and loan brokers as part of a broader campaign to root out a sprawling underworld of consumer fraud. The Ministry of Public Security and the National Financial Regulatory Administration held a joint video conference on April 2, deploying a new phase of targeted strikes against financial “black and gray” market crimes. The campaign aims to clean up illegal financial intermediaries, maintain market order, and protect consumers, in a bid to secure the high-quality development of the financial sector.