“Crude is gonna march higher, I’m afraid,” says Robert McNally, founder and president at Rapidan Energy Group. He offers perspective on the psychological impact on the global oil market of restricted tanker traffic through the Strait of Hormuz. (Source: Bloomberg)
“Crude is gonna march higher, I’m afraid,” says Robert McNally, founder and president at Rapidan Energy Group. He offers perspective on the psychological impact on the global oil market of restricted tanker traffic through the Strait of Hormuz. (Source: Bloomberg)
Zenith Bank Plc , Nigeria’s second-largest lender by market value, plans to list on the London Stock Exchange in 2027 to broaden access to capital and strengthen clients services. “There are a lot of deals we have on the table to finance across the UK and other countries, for which we need to raise more capital,” a bank said on Tuesday. Zenith didn’t disclose additional details of its plans. The m...
Zenith Bank Plc , Nigeria’s second-largest lender by market value, plans to list on the London Stock Exchange in 2027 to broaden access to capital and strengthen clients services. “There are a lot of deals we have on the table to finance across the UK and other countries, for which we need to raise more capital,” a bank said on Tuesday. Zenith didn’t disclose additional details of its plans. The move will make Zenith the second Nigerian lender to list on the UK exchange, following Guaranty Trust Holding Company Plc last year, when it raised $105 million . Zenith also announced it would open a branch in Manchester in addition to the operation it already has in London. Read More: Nigeria Says 30 Banks Meet Capital Threshold Ahead of Deadline Nigeria’s biggest lenders have been boosting capital buffers to meet a 2024 order by the central bank to significantly strengthen their balance sheets and are now looking for growth opportunities at home and abroad. Zenith Bank last year raised its capital cushion above the 500 billion naira ($371 million) minimum requirement sought by the regulator and announced plans to expand in francophone West Africa.
格隆汇3月17日｜据睿见，2026亚布力论坛年会于3月17日-19日在黑龙江亚布力举办。昆仑芯CEO欧阳剑表示，依据 Google、字节跳动等公开统计数据，全球Token 消耗呈量级式增长，每月、每半年均有大幅提升，年增速超 200%。同时，模型规模持续扩大，单个 Token 计算成本持续走高，引发社会对算力能耗挤占生产生活资源的普遍担忧。他强调，这一矛盾既是 AI 产业的全新挑战，也是技术创新的...
格隆汇3月17日｜据睿见，2026亚布力论坛年会于3月17日-19日在黑龙江亚布力举办。昆仑芯CEO欧阳剑表示，依据 Google、字节跳动等公开统计数据，全球Token 消耗呈量级式增长，每月、每半年均有大幅提升，年增速超 200%。同时，模型规模持续扩大，单个 Token 计算成本持续走高，引发社会对算力能耗挤占生产生活资源的普遍担忧。他强调，这一矛盾既是 AI 产业的全新挑战，也是技术创新的重要机遇。作为 AI 时代的新型基础设施，Token 必须具备普惠属性，全行业正从多维度推进成本下降。欧阳剑表示，token成本需以每年至少一个量级的速度下降，才能支撑其高速增长的调用需求，这将成为 AI 产业下一阶段的核心攻坚方向。
In the summer of 2020, Warren Buffett, the former CEO of Berkshire Hathaway, announced that the large conglomerate had taken over a 5% stake in each of Japan's five largest trading houses, which are also known as "sogo shosha." Today, those positions are collectively valued at close to $41 billion, consuming over 13% of Berkshire's massive $308 billion equities portfolio. In his first annual lette...
In the summer of 2020, Warren Buffett, the former CEO of Berkshire Hathaway, announced that the large conglomerate had taken over a 5% stake in each of Japan's five largest trading houses, which are also known as "sogo shosha." Today, those positions are collectively valued at close to $41 billion, consuming over 13% of Berkshire's massive $308 billion equities portfolio. In his first annual letter to shareholders, Berkshire's new CEO, Greg Abel, noted that he views these five positions as core holdings of the company and similar to Berkshire's major investments in its top U.S. stocks, in terms of "importance and long-term value creation opportunity." Yet because these businesses are fairly complex and operate outside the U.S., very few investors are talking about them. Here's what you need to know. What is a trading house? And which ones did Berkshire buy? At face value, investors may interpret a trading house as some kind of investment firm. While they do make investments, the trading houses are more akin to large conglomerates like Berkshire Hathaway and operate many different businesses, including energy, finance, banking, chemicals, machinery, minerals, food, and more. In fact, Buffett said he saw similarities to Berkshire in the trading houses. There's also a global aspect to these five companies, which play a big role in obtaining resources from abroad that Japan needs but aren't made domestically. One difference, however, is that while Berkshire has many subsidiaries, the Japanese trading houses consist of tens, and sometimes hundreds, of smaller companies that are not technically subsidiaries because all or most of them own small stakes in one another. This type of practice is not allowed in many countries, such as the U.S. However, it's possible Buffett may have found this an attractive moat because the structure makes these smaller companies somewhat reliant on one another's success, which could make them more resilient, though there could be drawbacks to...
This article first appeared on GuruFocus. Nvidia (NASDAQ:NVDA) is teaming up more closely with STMicroelectronics (NYSE:STM) as both companies push into what's being called physical AI, a space that focuses on bringing AI into real world machines like robots and industrial systems. At the core of the partnership is the integration of STM's sensors, STM32 microcontrollers and motor control technolo...
This article first appeared on GuruFocus. Nvidia (NASDAQ:NVDA) is teaming up more closely with STMicroelectronics (NYSE:STM) as both companies push into what's being called physical AI, a space that focuses on bringing AI into real world machines like robots and industrial systems. At the core of the partnership is the integration of STM's sensors, STM32 microcontrollers and motor control technologies into Nvidia's robotics platforms, including Holoscan Sensor Bridge and Isaac Sim. These tools are already used by developers to train and simulate AI systems before deploying them in real world environments. The idea is to make the entire process smoother, from building AI models to getting them working with actual hardware. STMicroelectronics said the collaboration is aimed at speeding up how quickly companies can develop and roll out advanced robotics systems. By aligning STM's hardware with Nvidia's simulation platforms, developers can train systems virtually and then transfer them into real world machines with fewer delays and lower costs.
JPMorgan Chase & Co. is leading a push by Wall Street banks to offload risky loans for acquisitions. The latest is a $2 billion debt sale to finance the purchase of asset manager Janus Henderson Group Plc by Nelson Peltz ’s Trian Fund Management and General Catalyst . The bank will kick off a call Tuesday to drum up demand for the deal. JPMorgan, which is leading four US dollar leveraged buyout or...
JPMorgan Chase & Co. is leading a push by Wall Street banks to offload risky loans for acquisitions. The latest is a $2 billion debt sale to finance the purchase of asset manager Janus Henderson Group Plc by Nelson Peltz ’s Trian Fund Management and General Catalyst . The bank will kick off a call Tuesday to drum up demand for the deal. JPMorgan, which is leading four US dollar leveraged buyout or acquisition loans in total this week, is also hosting a meeting for the long-awaited cross-border $5.75 billion offering for video game maker Electronic Arts Inc. that has already attracted strong interest . US leveraged loan prices have come under pressure in recent weeks amid worries about how artificial intelligence will impact software companies’ earnings, the escalation of the war in Iran and as cracks emerge in the private credit market. They’ve recovered slightly though, rising to about 95 cents on the dollar as of Monday according to Bloomberg-compiled data , cranking open a window to sell the debt that was underwritten by banks months ago when market conditions were more stable. Read More: JPMorgan Makes Bold Push to Offload Huge LBO Debt: Credit Weekly Trian and General Catalyst agreed to buy Janus Henderson in December, in a deal that valued the asset manager at about $7.4 billion. Trian already owned 20.6% of Janus Henderson’s shares and has been represented on the board since 2022. A lender call for the loan offering, which will be sold by a unit called Jupiter Borrower Inc., will kick off at 10 a.m. New York time, according to a person with knowledge of the matter, who asked not to be identified discussing a private transaction. The financing for acquisition, which will also refinance debt, will include $600 million of other secured debt, $1 billion of convertible preferred and $3.6 billion of common equity, the person said. Pricing discussions on the loan are 2.75 percentage points over the Secured Overnight Financing Rate with a discounted price of 98.5 to ...
“Outcome” is a dark comedy that centers on Reef Hawk (Reeves), a beloved Hollywood star who must dive into the depths of his hidden demons after he is extorted with a mysterious video that’s sure to shatter his image and end his career. With the support of his lifelong besties Kyle (Diaz) and Xander (Bomer), along with his crisis lawyer Ira (Hill), Reef embarks on a soul-searching journey to make ...
“Outcome” is a dark comedy that centers on Reef Hawk (Reeves), a beloved Hollywood star who must dive into the depths of his hidden demons after he is extorted with a mysterious video that’s sure to shatter his image and end his career. With the support of his lifelong besties Kyle (Diaz) and Xander (Bomer), along with his crisis lawyer Ira (Hill), Reef embarks on a soul-searching journey to make amends with anyone he could have possibly wronged in hopes of identifying the blackmailer. Co-writer and director Hill brings a unique lens to Reef’s wild but spiritually cleansing, nostalgic and eye-opening trip down memory lane, where confronting his past might be the only way to rescue his future. Directed by Hill, the Apple Original Film “Outcome” is written by Hill and Ezra Woods, produced by Matt Dines, Alison Goodwin and Hill under their Strong Baby banner, with Adam Merims serving as executive producer. Apple TV offers premium, compelling drama and comedy series, feature films, groundbreaking documentaries, and kids and family entertainment, and is available to watch across all your favorite screens. After its launch on November 1, 2019, Apple TV became the first all-original streaming service to launch around the world, and has premiered more original hits and received more award recognitions faster than any other streaming service in its debut. To date, Apple Original films, documentaries and series have been honored with 773 wins and 3,337 award nominations and counting, including multi-Emmy Award-winning and history-making comedies “The Studio” and “Ted Lasso,” global cultural phenomenon “Severance,” Apple’s most-viewed drama “Pluribus,” Oscar Best Picture winner “CODA” and Academy Award nominee “F1,” the highest-grossing sports feature of all time.
Airlines are seeing a surge in demand as customers try to lock in their tickets ahead of a likely surge in prices due to fuel costs brought on by the war in the Middle East. Delta and American Airlines are both forecasting strong sales. Bloomberg's Benedikt Kammel reports. (Source: Bloomberg)
Airlines are seeing a surge in demand as customers try to lock in their tickets ahead of a likely surge in prices due to fuel costs brought on by the war in the Middle East. Delta and American Airlines are both forecasting strong sales. Bloomberg's Benedikt Kammel reports. (Source: Bloomberg)
quantic69/iStock via Getty Images After the great allogeneic stumble in 2021 , when the FDA slapped a clinical hold on Allogene's [ALLO] ALLO-501A, the entire allogeneic CAR-T sector was crushed. The stock was cut from $25/share to $13/share in a day and was eventually decimated to where it currently stands, around $2.50/share. Seeking Alpha Naturally, Allogene's competitors followed suit and came...
quantic69/iStock via Getty Images After the great allogeneic stumble in 2021 , when the FDA slapped a clinical hold on Allogene's [ALLO] ALLO-501A, the entire allogeneic CAR-T sector was crushed. The stock was cut from $25/share to $13/share in a day and was eventually decimated to where it currently stands, around $2.50/share. Seeking Alpha Naturally, Allogene's competitors followed suit and came crashing down too. So, in a similar fashion, Caribou Biosciences ( CRBU ) has fallen all the way from highs of $30/share to roughly $1.94/share at the time of writing this article. Seeking Alpha Nevertheless, I am here to write and focus on a happier chart and a flash of light in an otherwise dark time for allogeneic CAR-T. This happier chart is one that demonstrates Caribou's 80% advance over the past year, resulting from the strongest allogeneic CAR-T data ever reported . The clinical-stage cell therapy company continues to trade near its net cash value ($1.94 vs $1.24). This suggests that the market only values Caribou's enterprise pipeline at around $55 million despite recent data with numbers to rival approved autologous CAR-T products such as Yescarta, which is worth billions of dollars. In contrast to Kyverna Therapeutics ( KYTX ), which I wrote about in my last article and is hurrying towards the first-ever FDA-approved autologous CAR-T in the autoimmune space, Caribou stands for a longer, greater upside thesis. Allogeneic CAR-T is an off-the-shelf platform that could fundamentally alter the costs and scaling of cell therapy. Seeking Alpha The Threefold Front I will begin with a brief overview of the three different ways scientists have figured CAR-T cell therapy may be administered: autologous, in vivo, and allogeneic. Out of the three, only autologous has been approved by the FDA in any capacity, that is, oncology. Again, those are drugs like Yescarta and Breyanzi, multi-billion-dollar drugs. Yet, today's approved CAR-T therapies are notoriously fickle and diffic...
Douglas Rissing/iStock via Getty Images Estimating the timeline for the end game for the war in Iran remains a slippery task. Gaming out the costs, by contrast, is relatively straightforward. Each day the war continues, the outlook turns a bit murkier, and the risk ticks higher for economic harm. No one doubts that an end to the fighting would immediately relieve stress for the global economy. An ...
Douglas Rissing/iStock via Getty Images Estimating the timeline for the end game for the war in Iran remains a slippery task. Gaming out the costs, by contrast, is relatively straightforward. Each day the war continues, the outlook turns a bit murkier, and the risk ticks higher for economic harm. No one doubts that an end to the fighting would immediately relieve stress for the global economy. An end to hostilities would quickly lead to a resumption of energy shipments through the Strait of Hormuz, which represents roughly one-fifth of the world’s crude oil consumption. But as the war drags on, the potential for collateral damage that lingers is mounting. Some analysts are starting to consider the effects of a prolonged war. “If the conflict is prolonged, financial amplifications could magnify the macroeconomic impacts,” said Hyun Song Shin, head of the economics and monetary department at the Bank for International Settlements. “A spike in interest rates could put pressure on rich asset price valuations. Rising financing costs for governments and the need to issue more debt could undermine fiscal sustainability given already strained public finances in many countries.” The bond market, however, remains calm, at least for now. The US 10-year Treasury yield ( US10Y ), for example, has increased since the war started, but the benchmark rate continues to trade at a middling range relative to its history over the past year. But an extended war is no longer considered beyond the pale, which is starting to motivate thinking about the implications. “In my view, markets are underestimating the risk of a prolonged war,” said Frederic Schneider, a senior fellow at the Middle East Council on Global Affairs. Pondering another month of war and ongoing increases in energy prices, he predicts the blowback for the global economy could be harsh. “The worst-case scenario would be an economic slump combined with an interest rate hike to curb inflation.” The war’s effects are starting ...
With the U.S.–Iran conflict now in its 16th day, volatility in U.S. markets has intensified. Key indices and multiple sectors have seen steep declines, driving many stocks into oversold territory. While such conditions indicate heavy selling pressure, they can also set the stage for short-term recoveries if company fundamentals stay intact. Below are some of the most oversold mid-cap financial sto...
With the U.S.–Iran conflict now in its 16th day, volatility in U.S. markets has intensified. Key indices and multiple sectors have seen steep declines, driving many stocks into oversold territory. While such conditions indicate heavy selling pressure, they can also set the stage for short-term recoveries if company fundamentals stay intact. Below are some of the most oversold mid-cap financial stocks, based on momentum indicators Affiliated Managers Group ( MGRD ), Relative Strength Index 30, 15-day pref: -3.44%. Home Bancshares ( HOMB ), Relative Strength Index 30, 15-day pref: -5.93%. E-L Financial ( ELFIF ), Relative Strength Index 30, 15-day pref: -9.45%. Hamilton Lane ( HLNE ), Relative Strength Index 30, 15-day pref: -9.34%. UWM Holdings ( UWMC ), Relative Strength Index 30, 15-day pref: -15.47%. BankUnited ( BKU ), Relative Strength Index 30, 15-day pref: -9.40%. OneMain Holdings ( OMF ), Relative Strength Index 30, 15-day pref: -6.40%. Onex ( ONEXF ), Relative Strength Index 29, 15-day pref: -4.68%. Old National Bancorp ( ONB ), Relative Strength Index 30, 15-day pref: -8.66%. More on Edenred SE, Affiliated Managers Group, Inc., etc. Edenred: Interesting Opportunity At Current Valuation With A Favorable Risk/Reward UWM Holdings Corporation 2025 Q4 - Results - Earnings Call Presentation UWM Holdings Corporation (UWMC) Q4 2025 Earnings Call Prepared Remarks Transcript OneMain sued over charging customers hidden fees and interest, shares down ~4% Two Harbors adjourns meeting to solicit more votes on merger with UWM Holdings