UK Business Secretary Peter Kyle warned his Labour colleagues against pursuing redistribution of wealth without first prioritizing economic growth, as the party faces a potential tilt to the left if Keir Starmer is replaced as prime minister. Kyle is set to say that “prosperity without economic growth is impossible” in his annual speech on Wednesday night at London’s Mansion House, according to pr...
UK Business Secretary Peter Kyle warned his Labour colleagues against pursuing redistribution of wealth without first prioritizing economic growth, as the party faces a potential tilt to the left if Keir Starmer is replaced as prime minister. Kyle is set to say that “prosperity without economic growth is impossible” in his annual speech on Wednesday night at London’s Mansion House, according to prepared remarks seen by Bloomberg. “Redistribution without wealth creation is a zero-sum game that results in greater poverty of ambition, poverty of opportunity and poverty of outcome,” Kyle will say. “Equality without prosperity is the equality of the graveyard.” The warning comes with Labour split over its future direction after bruising local elections last month left Starmer facing a potential leadership challenge. Wes Streeting , on the right of the party, resigned as health secretary in order to prepare for a challenge. Meanwhile, Mayor of Greater Manchester Andy Burnham is running for Parliament — a necessary step for him to mount a bid. Burnham is seen as a more left-wing than Starmer — he warned last year that the UK was “in hock” to the bond markets — and is the bookmakers’ favorite to take over. His decision to seek the Makerfield seat prompted investors to push up gilt yields on fears he would ramp up public spending. Since then, he has been trying to reassure investors that he would be a safe pair of hands for the UK economy, committing to the current self-imposed borrowing rules and declining to make any radical changes to spending. Kyle is the latest figure to warn the Labour Party against drifting left. Last month, former Prime Minister Tony Blair published an essay in which he said the party he once led was at risk of indulging a “perennial delusion that when we lose seats to the right the country is really signalling it wants Labour to move left.” He said policies resulting in higher spending, fuelled by higher taxation, were “dangerous.” The business secr...
SanDisk (NASDAQ: SNDK) stock is posting another day of strong gains in Wednesday's trading and has set a new all-time high. The company's share price was up 5.1% as of 12:15 p.m. ET. Meanwhile, the S&P 500 was down 0.6%, and the Nasdaq Composite was off 0.3%. SanDisk is gaining ground thanks to the publication of a new bullish analyst note. The company's share price is likely also getting a boost ...
SanDisk (NASDAQ: SNDK) stock is posting another day of strong gains in Wednesday's trading and has set a new all-time high. The company's share price was up 5.1% as of 12:15 p.m. ET. Meanwhile, the S&P 500 was down 0.6%, and the Nasdaq Composite was off 0.3%. SanDisk is gaining ground thanks to the publication of a new bullish analyst note. The company's share price is likely also getting a boost from new research covering the memory chip industry. Image source: Getty Images. Continue reading
CuriosityStream Inc. (CURI) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
CuriosityStream Inc. (CURI) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
The dollar index (DXY00 ) today is up by +0.23%. The dollar is moving higher today and is being supported by a +1% increase in WTI crude oil prices, which lifts inflation expectations and may prompt the Fed to tighten monetary policy, a bullish factor for the dollar. Gains in...
The dollar index (DXY00 ) today is up by +0.23%. The dollar is moving higher today and is being supported by a +1% increase in WTI crude oil prices, which lifts inflation expectations and may prompt the Fed to tighten monetary policy, a bullish factor for the dollar. Gains in...
Microsoft says its new quantum chip, refined using artificial intelligence, brings a scalable quantum computer within reach before the end of the decade. The company on Tuesday unveiled the latest iteration of its Majorana quantum processor, which it redesigned using AI. Microsoft asserted that the new chip is 1,000 times more reliable than its predecessor, effectively halving the timeline to buil...
Microsoft says its new quantum chip, refined using artificial intelligence, brings a scalable quantum computer within reach before the end of the decade. The company on Tuesday unveiled the latest iteration of its Majorana quantum processor, which it redesigned using AI. Microsoft asserted that the new chip is 1,000 times more reliable than its predecessor, effectively halving the timeline to build a scalable quantum computer.
Devrimb/iStock via Getty Images Overview When I previously covered the Schwab U.S. Large-Cap ETF ( SCHX ), I issued a buy rating and dug into the details of why it makes a great companion to a dividend-focused portfolio. Since my last coverage, SCHX has provided a total return of roughly 28% and outperformed the S&P 500. However, I wanted to revisit SCHX to specifically focus on the ETF's strength...
Devrimb/iStock via Getty Images Overview When I previously covered the Schwab U.S. Large-Cap ETF ( SCHX ), I issued a buy rating and dug into the details of why it makes a great companion to a dividend-focused portfolio. Since my last coverage, SCHX has provided a total return of roughly 28% and outperformed the S&P 500. However, I wanted to revisit SCHX to specifically focus on the ETF's strengths and ability to participate in the expansion of AI over the next decade. SCHX provides direct exposure to some of the highest-quality companies in the world, but there are some tradeoffs that investors should consider. Assessing SCHX's performance over the last twelve months, we can see that the total return sits around 29.6%. As the market indices continue to break new all-time highs, SCHX demonstrates that it is capable of participating in this upside growth. SCHX is a great option for investors that want to implement a traditional buy-and-hold strategy within their portfolio. An ETF like this makes it easy to get instant diversification across large-cap holdings that continue to rapidly grow earnings. However, SCHX's approach isn't perfect. For instance, the portfolio has a lot of positions and this approach provides diversity but it also dilutes the impact that many of its strongest positions may have. This structure can essentially lead to underperformance against more traditional index-tracking ETFs over a longer holding period. However, this approach can also reduce volatility through market downturns. As long as this dynamic is understood, I think investors can find success with holding SCHX over a long time frame. Fund Strategy According to the latest fund overview, SCHX has total net assets of $72.7B that are spread across 752 different holdings. The fund's primary objective is to provide total returns that are on par with the Dow Jones U.S. Large-Cap Total Stock Market Index. The fund implements a filtering system that sorts eligible companies from largest to sm...
JPMorgan Chase & Co. is preparing to sell a $1.85 billion debt financing backing Belden’s acquisition of Ruckus Network . The $1.85 billion leveraged loan financing is set to launch to institutional investors imminently, according to people familiar with the matter, who asked not to be identified because the deal is private. Belden agreed the acquisition from Vistance Networks in April for about $...
JPMorgan Chase & Co. is preparing to sell a $1.85 billion debt financing backing Belden’s acquisition of Ruckus Network . The $1.85 billion leveraged loan financing is set to launch to institutional investors imminently, according to people familiar with the matter, who asked not to be identified because the deal is private. Belden agreed the acquisition from Vistance Networks in April for about $1.85 billion, securing fully committed debt financing from JPMorgan. The bank has since brought in other lenders to the line up, including Wells Fargo & Co , the people said. Spokespeople for JPMorgan and Wells Fargo declined to comment. Representatives of Belden and Ruckus didn’t immediately respond to requests for comment. The transaction is one of just a handful of mid-sized, underwritten M&A financings slated to hit a market currently dominated by opportunistic repricings and a few megacap deals. High expectations for dealmaking at the end of last year have ultimately fallen flat, stymied by market volatility stemming from the war in the Middle East JPMorgan is also among a group of banks preparing to sell a $2.5 billion debt package to support Long Lake Management Inc. ’s acquisition of American Express Global Business Travel , which is likely to launch in a couple of weeks.
New crisis at former vocational charity involves alleged withholding of data and breaching redundancy laws City & Guilds is facing potential legal and industrial action over claims it has been “dishonest” over plans to shed about 400 UK staff. Officials at the Unite union allege the owner of the training and qualifications body has been “unlawfully withholding key information during transfer consu...
New crisis at former vocational charity involves alleged withholding of data and breaching redundancy laws City & Guilds is facing potential legal and industrial action over claims it has been “dishonest” over plans to shed about 400 UK staff. Officials at the Unite union allege the owner of the training and qualifications body has been “unlawfully withholding key information during transfer consultations”, while also “advertising for new recruits when it is legally required to give staff at risk of redundancy first refusal”. Continue reading...
Scott Bessent, US treasury secretary, during a Senate Finance Committee hearing in Washington, DC, US, on Wednesday, June 3, 2026. Eric Lee | Bloomberg | Getty Images Treasury Secretary Scott Bessent said Wednesday that he is "performing the duties" of Internal Revenue Service commissioner, even as he insisted he is not the agency's acting commissioner, during a heated Senate exchange over Preside...
Scott Bessent, US treasury secretary, during a Senate Finance Committee hearing in Washington, DC, US, on Wednesday, June 3, 2026. Eric Lee | Bloomberg | Getty Images Treasury Secretary Scott Bessent said Wednesday that he is "performing the duties" of Internal Revenue Service commissioner, even as he insisted he is not the agency's acting commissioner, during a heated Senate exchange over President Donald Trump settlement with the IRS. Bessent, who had been the acting IRS commissioner since August, took over the commissioner duties in a little-noticed move two and a half months ago, the agency said in a post on its website March 13. The IRS said Bessent's time as acting commissioner had "expired" but that he "retains the authority and responsibility to perform the functions and duties of vacant Treasury offices that are not filled on an acting basis." The distinction became central during questioning at a Senate Finance Commitee hearing from Sen. Catherine Cortez Masto , D-Nev. She pressed Bessent over his current authority at the tax agency and whether hundreds of thousands of other taxpayers whose information was leaked by a former IRS contractor would receive the same treatment Democrats say Trump, his family and his businesses received after the leak of their tax returns "You are the acting IRS commissioner , correct?" Cortez Masto asked at the hearing on the Treasury Department budget. "That is incorrect," Bessent replied. When Cortez Masto asked what his position was with the IRS, Bessent said, "My term expired," but added that the IRS is a bureau within Treasury and that "when there is no commissioner, those duties flow up to me." Cortez Masto pushed back, asking whether that meant there was no commissioner and Bessent was acting commissioner . "No, that's incorrect," Bessent said. Asked again to clarify his role "for the purposes of public and transparency," Bessent said: "I am performing the duties of the commissioner." The exchange came one day after acti...
onuma Inthapong/E+ via Getty Images Just over a year ago, I argued that the fundamentals behind YPF Sociedad Anonima ( YPF ) were, in some ways, being underestimated by the market. This was because the company’s shale developments in Vaca Muerta, together with an infrastructure shock in the region, were scaling up much faster than what market pricing seemed to reflect, and the share price drop at ...
onuma Inthapong/E+ via Getty Images Just over a year ago, I argued that the fundamentals behind YPF Sociedad Anonima ( YPF ) were, in some ways, being underestimated by the market. This was because the company’s shale developments in Vaca Muerta, together with an infrastructure shock in the region, were scaling up much faster than what market pricing seemed to reflect, and the share price drop at that time looked more like an opportunity than a warning sign. Since then, the rerating has taken place, with the stock moving significantly higher from the ~$36 area at the time of publication. Previous Coverage on Seeking Alpha Looking back now, a key aspect is that this wasn't just an isolated rise in the stock price but also in production. YPF’s evolution in such a short period has been significant. The turnaround story has faded into the background, giving way to one of exponential growth and international expansion. The real question now is whether this new phase is properly reflected in the share price. Spoiler alert: it isn’t. The Machine Is At Full Steam Shale oil production grew 35% in 2025, beating the company’s own target, and started 2026 with a 39% y/y increase in Q1 2026. However, the key factor has been the transformation of the cost structure and the significant improvement in competitiveness over the past year. Company‑wide lifting costs fell sharply by 42% y/y to $8.8/boe in Q1 2026 and to $4.0/boe in YPF’s operated Vaca Muerta blocks (the shale oil hub). This is not only an outstanding performance for the Neuquén basin, but also by global standards. In 2025, average lifting costs for operators in Vaca Muerta were around $6.0/boe, while those in the Permian Basin were about $4.9/boe over the same period, as a reference point. This has brought YPF’s breakeven level in line with that of the main U.S. shale play (~$40/bbl) and below many of its regional peers. YPF FY25 & 4Q25 Presentation This wasn’t a random improvement but due to a massive scale‑up in a ve...
Badenoch differentiated herself from Nigel Farage in response to Henry Nowak’s murder and supporters say her ratings are rising Kemi Badenoch has a hard-earned reputation for combativeness, especially on culture war issues, but at prime minister’s questions, with the murder of the teenager Henry Nowak in the headlines, Keir Starmer ended up thanking the Conservative leader for her “tone”. So is sh...
Badenoch differentiated herself from Nigel Farage in response to Henry Nowak’s murder and supporters say her ratings are rising Kemi Badenoch has a hard-earned reputation for combativeness, especially on culture war issues, but at prime minister’s questions, with the murder of the teenager Henry Nowak in the headlines, Keir Starmer ended up thanking the Conservative leader for her “tone”. So is she a changed politician? Well, not exactly. To an extent, Badenoch’s approach ahead of her weekly Commons showdown with Starmer was shaped by events. Widespread concern on Wednesday at the police response to Nowak’s murder – the student was handcuffed while he bled to death after being falsely accused of racism – spiralled into rioting on Tuesday night. The imperative not to inflame matters further was obvious. Continue reading...
andri wahyudi/iStock via Getty Images LiveOne ( LVO ) will deliver curated playlists, live audio, and personalized music to car radios as part of a bundled entertainment package available with the AT&T ( T ) Connected Car platform. This collaboration will enable automobile manufacturers to more easily install premium connected entertainment systems using AT&T’s ( T ) Connected Car platform and Cis...
andri wahyudi/iStock via Getty Images LiveOne ( LVO ) will deliver curated playlists, live audio, and personalized music to car radios as part of a bundled entertainment package available with the AT&T ( T ) Connected Car platform. This collaboration will enable automobile manufacturers to more easily install premium connected entertainment systems using AT&T’s ( T ) Connected Car platform and Cisco’s ( CSCO ) multi-party billing technology. Because connectivity and billing infrastructure are already integrated through the AT&T ( T ) platform, OEMs can deploy LiveOne’s ( LVO ) entertainment services faster and with reduced operational complexity. More on LiveOne, AT&T AT&T Remains Deeply Undervalued AT&T: 10+% Growing FCF Yield In An Expensive Market AT&T: Cash Flow Weakness Looks Temporary, Valuation Still Compelling AT&T most at risk as consumers migrate towards satellite -- Oppenheimer AT&T stock keeps falling: Is heavy fiber spending weighing on strong outlook?
Megacap stocks are behemoths that set the tone for their industries, and their massive scale typically leads to wide moats. However, the downside is that most have already exploited their existing market opportunities and must invest heavily to expand further, a risky proposition.
Megacap stocks are behemoths that set the tone for their industries, and their massive scale typically leads to wide moats. However, the downside is that most have already exploited their existing market opportunities and must invest heavily to expand further, a risky proposition.
Steve Sosnick of Interactive Brokers talks about where investors should be greedy right now. He speaks in New York at a Bloomberg subscribers only event for the launch of Bloomberg Money. (Source: Bloomberg)
Steve Sosnick of Interactive Brokers talks about where investors should be greedy right now. He speaks in New York at a Bloomberg subscribers only event for the launch of Bloomberg Money. (Source: Bloomberg)
With major indexes pushing fresh highs, large-cap media stocks under $30 stand out as one of the last corners of the market where contrarian value still hides in plain sight. Wall Street has spent two years pricing legacy TV operators for terminal decline, but the cash flow statements keep telling a very different story. For ... This Cash-Generating Media Juggernaut Is a “No-Brainer” Buy Under $30
With major indexes pushing fresh highs, large-cap media stocks under $30 stand out as one of the last corners of the market where contrarian value still hides in plain sight. Wall Street has spent two years pricing legacy TV operators for terminal decline, but the cash flow statements keep telling a very different story. For ... This Cash-Generating Media Juggernaut Is a “No-Brainer” Buy Under $30