Motorists in Staten Island, the borough with the highest percentage of car ownership in New York City, are getting hit by soaring gas prices resulting from the US war in Iran, Congresswoman Nicole Malliotakis said. The average retail gasoline price was about $4.15 a gallon nationally and in New York as of Friday, according to AAA, up more than a dollar from before the war began. Malliotakis said t...
Motorists in Staten Island, the borough with the highest percentage of car ownership in New York City, are getting hit by soaring gas prices resulting from the US war in Iran, Congresswoman Nicole Malliotakis said. The average retail gasoline price was about $4.15 a gallon nationally and in New York as of Friday, according to AAA, up more than a dollar from before the war began. Malliotakis said the increase would likely prove to be temporary, but that prices “need to come down” before the US midterm elections in November. Malliotakis said prices should fall once shipping through the Strait of Hormuz is normalized, as the US seeks to solidify a cease-fire with Iran. Iran restricted access through the strait when the war broke out more than a month ago, bottling up shipments of crude oil and sparking a global surge in prices for many kinds of fuel. The only New York City Republican in Congress, Malliotakis is running for reelection in November for the 11th congressional district, which encompasses Staten Island and southern Brooklyn. The seat is rated “solid Republican” by the Cook Political Report. Staten Island residents are more reliant on cars to get around than New Yorkers who live in other boroughs. Eighty-five percent of households own a vehicle, compared with 63% in Queens, 45% in Brooklyn, 40% in the Bronx and 23% in Manhattan, according to the Hunter College urban policy and planning department. “I have a car. Staten Island residents, we are very dependent on our vehicles,” Malliotakis said, responding to questions about gas prices in an interview at Bloomberg News’ Manhattan headquarters. “Obviously this is something my constituents will notice.” Malliotakis said that the gas-price spike so far has been shorter in duration than the one motorists experienced when President Joe Biden was in office. Pump prices reached record highs in mid-2022 and remained elevated for several months due to global supply shortages and Russia’s invasion of Ukraine.
Hunter Biden Challenges Trump Brothers To Cage Match As everyone knows by now, the first rule of fight club is... you don't talk about fight club... But it appears Hunter Biden could not help himself as the son of former President Joe Biden, on April 9 publicly challenged Donald Trump Jr. and Eric Trump - the eldest sons of President Donald Trump - to a cage match. View this post on Instagram A po...
Hunter Biden Challenges Trump Brothers To Cage Match As everyone knows by now, the first rule of fight club is... you don't talk about fight club... But it appears Hunter Biden could not help himself as the son of former President Joe Biden, on April 9 publicly challenged Donald Trump Jr. and Eric Trump - the eldest sons of President Donald Trump - to a cage match. View this post on Instagram A post shared by Channel Five (@channel5) The challenge emerged in a video posted to the Instagram page of conservative social media commentator Andrew Callaghan’s Channel 5 account. “I just got a call from Andrew Callaghan,” Biden said in the video. “He asked me to come out on the Channel 5 Carnival Tour at the end of the month. I think we start in Phoenix, then we go to San Diego, and we end in Albuquerque. I think he’s trying to organize a cage match. Me versus Eric and Don Jr. I told him I'd do it—100 percent in if he can pull it off. And if he can’t, I’m still coming.” As Kimberley Hayek reports for The Epoch Times, the challenge lands against the backdrop of the nation’s 250th independence celebrations, which already include an actual professional fight match at the White House. The White House is set to host a UFC match on June 14, a White House official confirmed to The Epoch Times. Hunter Biden is not expected to participate in that event. Trump first floated the idea of a White House UFC fight in July 2025, announcing plans at a “Salute to America” event in Des Moines, Iowa, that the administration intended to mark the country’s 250th anniversary with a year’s worth of events. UFC CEO Dana White, a close friend of Trump, is overseeing the June event, which is headlined by professional fighters, though the competitors have yet to be announced. The cage match proposal arrives roughly 16 months after former President Joe Biden issued his son a full and unconditional pardon on Dec. 1, 2024, covering any federal offenses between Jan. 1, 2014, and Dec. 1, 2024. Hunter Biden...
Welcome to ETF IQ, a weekly newsletter dedicated to the $19 trillion global ETF industry. I’m Bloomberg News reporter and anchor Katie Greifeld . Stiff Competition Invesco’s crown jewel may soon face some new competition. BlackRock made waves on Monday with a filing for the iShares Nasdaq 100 ETF, which would trade under the ticker IQQ and track the Nasdaq 100. State Street followed suit on Tuesda...
Welcome to ETF IQ, a weekly newsletter dedicated to the $19 trillion global ETF industry. I’m Bloomberg News reporter and anchor Katie Greifeld . Stiff Competition Invesco’s crown jewel may soon face some new competition. BlackRock made waves on Monday with a filing for the iShares Nasdaq 100 ETF, which would trade under the ticker IQQ and track the Nasdaq 100. State Street followed suit on Tuesday with its own application for the State Street SPDR Nasdaq 100 ETF. The proposals take direct aim at the famed Invesco QQQ Trust Series 1 fund (ticker QQQ), one of just two US-listed ETFs that solely track the Nasdaq 100 (the other is QQQM, also managed by Invesco). Exchange-operator Nasdaq has been historically selective about licensing out its namesake index, and while other ETFs that add derivatives to the Nasdaq 100 stocks trade stateside, Invesco has enjoyed virtually exclusive access to the pure Nasdaq 100 in the US market. It appears that dynamic is changing. But why now, after so many decades? Strategas Securities chief ETF strategist Todd Sohn offers one theory: SpaceX. Nasdaq said recently that it would enact a rule change designed to cut the time it takes for newly listed, large-cap companies to enter its main index, a move that will give shares of behemoths like SpaceX a faster route into funds that are pegged to the benchmark. “I have to wonder if this is more about the potential IPOs coming down the pipeline and issuers wanting to have the Nasdaq 100 exposure ready for those interested,” Sohn said. It’s also worth revisiting last year’s consequential QQQ proxy vote, which did a lot of things, which you can read about here . While Invesco is still paying Nasdaq to license its index, Invesco is no longer mandated to spend a ton of money on marketing QQQ (and by extension, Nasdaq). “The structural shift means there’s no longer a MASSIVE mandatory pile of money that will be spent on huge QQQ marketing buys, so the playing field opened up a bit,” Dave Nadig, direc...
Amazon (AMZN) got a strong lift after Andy Jassy used his annual shareholder letter to give investors something they had been asking for: harder numbers around AI demand and Amazon’s custom chip business. In the letter, Jassy said AWS’s AI revenue run rate is now above $15 billion and wrote that ...
Amazon (AMZN) got a strong lift after Andy Jassy used his annual shareholder letter to give investors something they had been asking for: harder numbers around AI demand and Amazon’s custom chip business. In the letter, Jassy said AWS’s AI revenue run rate is now above $15 billion and wrote that ...
simonkr/E+ via Getty Images Par Pacific ( PARR ) up 4.8% and Delek US Holdings ( DK ) up 1.2% in Friday's trading as Goldman Sachs upgraded the stocks to Buy from Neutral, with respective $77 and $55 price targets, citing "compelling" positive estimate revisions and strong fundamentals while maintaining a constructive view on small-to-midcap refiners more broadly. Independent of Middle East disrup...
simonkr/E+ via Getty Images Par Pacific ( PARR ) up 4.8% and Delek US Holdings ( DK ) up 1.2% in Friday's trading as Goldman Sachs upgraded the stocks to Buy from Neutral, with respective $77 and $55 price targets, citing "compelling" positive estimate revisions and strong fundamentals while maintaining a constructive view on small-to-midcap refiners more broadly. Independent of Middle East disruptions, Goldman analysts led by Neil Mehta said tighterrefining supply-demand fundamentals and the scarcity value of refined products should translate to incremental earnings power for U.S. refiners. The bank said its more positive view on Par Pacific ( PARR ) was driven by expectations for strong positive consensus estimate revisions, given strength in Hawaii earnings and underappreciated mainland refiners, and highlighting the benefit of small refinery exemptions, improved underlying fundamentals, and a net long RIN position following the completion of Hawaii Renewables. Mehta and his team said the Delek US ( DK ) upgrade was based on a forecast for stronger free cash flow generation supported by self-help initiatives, including cost-reduction efforts; small refinery exemptions; improved marketing and wholesale strategy; and steady and growing logistics earnings. Goldman maintained its Sell rating on CVR Energy ( CVI ), given its view that capital allocation priorities will remain focused on debt paydown and potential inorganic growth, pointing to adividend reinstatement as a longer-dated event; while constructive on SRE potential at Wynnewood, the analysts said they are mindful of downside risks to cash flow if exemptions do not materialize, given the company does not meet full compliance. The analysts also kept their Neutral rating on PBF Energy ( PBF ), as they continue to look for full recovery from the 2025 fire at the Martinez refinery before taking a more constructive view on the company’s West Coast exposure. More on Par Pacific and Delek US Par Pacific: Still The ...
Rio Tinto Group has drawn interest from more than a dozen potential bidders for its US assets that produce the critical mineral boron, according to people familiar with the matter. The Anglo-Australian company could fetch around $2 billion for the assets, according to the people, who asked not to be named discussing private information. WE Soda , Magris Resources Inc. , and US Silica Holdings Inc....
Rio Tinto Group has drawn interest from more than a dozen potential bidders for its US assets that produce the critical mineral boron, according to people familiar with the matter. The Anglo-Australian company could fetch around $2 billion for the assets, according to the people, who asked not to be named discussing private information. WE Soda , Magris Resources Inc. , and US Silica Holdings Inc. are among the firms interested in buying Rio’s boron assets in California, they said. Boron is used in fertilizers as well as in high-tech applications such as heat-resistant glass and materials for renewable energy. The companies are expected to extend binding offers to Rio Tinto by June, one of the people said. WE Soda is the world’s largest producer of soda ash, used in glass manufacturing and chemical processing. Magris is a Toronto-based mining investment firm. US Silica is one of the world’s top producers of silica sand, a raw material for glassmaking and construction, and is a portfolio company of Apollo Global Management Inc. Rio Tinto declined to comment. Spokespeople for WE Soda, Magris Resources, US Silica Holdings and Apollo Global Management didn’t immediately respond to requests for comment. The sale process comes as the Trump administration aims to boost domestic production of minerals it deems crucial to the US economy and national security. Critical minerals have become a potent lever in the US-China trade standoff, with Beijing controlling much of the global supply chain. Rio decided last year to divest the US boron assets late last year as it looked to streamline its extensive operations under new Chief Executive Officer Simon Trott , Bloomberg News reported in November. Rio’s boron business includes a mine and processing operations in the Mojave Desert town of Boron, as well as a refinery and shipping facility at the Port of Los Angeles and its Owens Lake mining operation near the Sierra Nevada mountains. Rio’s California operations meet about a third o...