KPMG UK is cutting 10% of staff across its support teams, according to a spokesperson for the company, in the latest round of job cuts by the Big Four accountancy firm. The cuts could lead to around 200 people leaving the firm, a person familiar with the situation said. The spokesperson said the cuts were part of the ongoing integration between KPMG’s UK and Switzerland arms, which merged in 2024. The job cuts, which were first reported by City AM, are subject to consultation in line with UK employment law. “We are looking at the shape of our operating model,” a KPMG spokesperson said in an emailed statement. “This includes launching proposals to reduce roles in our central services by 10% to avoid duplication, make the most of our technology investments and to expand our offshore delivery.” The firm in March cut more than 400 roles from its UK audit division, blaming lack of natural attrition. Many professional services firms are looking to shrink support staff teams broadly, turning to artificial intelligence and offshoring to cut costs and boost revenues. Consulting giant McKinsey & Co. and accountancy firm PwC ’s US arm are among firms that have been cutting back their support teams in the last 12 months. Read More: Executive Assistants Making $100,000 a Year Lose Jobs to AI

Confirmation of Meta's AI spending plans sank the stock today -- temporarily.

Key PointsReuters says Meta just committed to a multi-year deal to buy NAND flash memory from Sandisk.

Samsung just posted the most profitable quarter in the history of any technology company. The market sold the stock anyway. On July 7, Samsung Electronics reported preliminary second-quarter results showing operating profit of 89.4 trillion won, approximately $58.4 billion, a 19-fold jump from the ...

Source: Bloomberg, 5:59

【有線新聞】北韓召開勞動黨第九屆中央軍事委員會會議，制定加強核武計劃。 朝中社報道，第一次擴大會議昨天舉行，制定了擴大和加強核武，更新戰鬥系統技術基礎設施及軍事基地現代化的計劃，亦討論提升偵察情報總局軍事偵察的能力，推進海軍基地和造船廠建設等。領袖金正恩稱只有建立能管控和遏制威脅的強大軍隊，才能保障北韓安全及真正和平。他又簽署多份重大軍事措施的文件。

Meta is making its biggest AI monetization move yet. Bloomberg's Kurt Wagner had an exclusive interview with Mark Zuckerberg. They talked about why the company is betting on ultra-low API pricing to win developers, how Meta plans to turn massive AI investments into real revenue, and what the AI transformation means for employees, investors, and the race against OpenAI and Google. (Source: Bloomberg)

【有線新聞】美國佛羅里達州棕櫚灘國際機場改名為特朗普總統國際機場。 機場的自助辦理登機櫃位熒幕已顯示新名稱，機場暫時繼續使用原有代碼PBI，下月中才改為DJT。佛羅里達州州長德桑蒂斯3月簽署法案批准改名，預計耗資高達550萬美元。特朗普兒子埃里克乘坐私人飛機抵達機場，是機場改名後首架降落的航班，他說特朗普對佛羅里達州和美國的貢獻無人能及，值得擁有這份榮譽，自己作為兒子感到自豪。

The AI infrastructure trade has minted winners across the neocloud sector, but one name has been conspicuously left out. CoreWeave (NASDAQ:CRWV) has fallen 40.57% over the past year, even as Nebius Group (NASDAQ:NBIS) has surged 359.62% and IREN (NASDAQ:IREN) has climbed 154.62%. Even NVIDIA (NASDAQ:NVDA), CoreWeave’s largest partner, is up 27.74% over the same stretch. ... Down 40%, CoreWeave Is Being Left Behind By the Market

matejmo/iStock via Getty Images I last wrote about the Harbor Commodity All-Weather Strategy ETF ( HGER ) on Seeking Alpha on April 13, 2026, highlighting the price action in commodities and the ETF in Q1 2026. I concluded the article with the following: On October 6, 2025, I rated HGER a Buy when the ETF was trading at $25.89 per share. At over $31 per share in mid-April 2026, I remain bullish on the prospects for the commodities asset class and HGER, but I am lowering the rating to a Hold, as the risks in energy and agricultural markets have increased with the prices. Commodity prices declined in Q2 2026, and HGER moved lower, underperforming the commodity composite. I am increasing my rating for HGER from Hold to Buy after the recent correction. A Bearish Q2 in Commodities A commodity composite of 29 of the most liquid raw material futures and forwards traded in the U.S. and U.K. fell 4.56% in Q2 2026. The composite was still 4.16% higher over the first half of 2026. The breakdown of the performance of the six commodity sectors in Q2 and over the first six months of 2026 was: Soft commodities: Up 9.03% in Q2, down 6.66% over the first half of 2026. Animal protein: Up 0.95% in Q2, up 7.03% over the first half of 2026. Base metals: Up 1.92% in Q2, up 7.16% over the first half of 2026. Grains: Down 6.59% in Q2, up 7.53% over the first half of 2026. Precious metals: Down 18.27% in Q2, down 18.30% over the first half of 2026. Energy: Down 14.37% in Q2, up 28.21% over the first half of 2026. I track 40 commodities and commodity-related markets. In Q2, 13 posted gains, while 27 declined. There were 8 double-digit percentage gains and 11 double-digit percentage losses. Over the first six months of 2026, 26 commodities posted gains, and 14 posted losses. Over the period, there were 17 double-digit percentage gains and 9 double-digit percentage losses. The Reasons for the Downdraft in Energy and Precious Metals In Q2, the two sectors that led the way on the downside with d...

JianGang Wang/iStock Unreleased via Getty Images In my last article on Mitsui, found here, I explained why, despite the outperformance relative to my first article, I maintain/maintained my overall neutral/rotation-specific view on the company and why I believe this was no sign that the company should be bought in hope of even better returns. Less than a few weeks after that article, my stance was vindicated, and we're now looking at an underperformance closer to 32% to market, in line with my overall expectation for the company. Seeking Alpha Mitsui RoR In fact, even my original neutral article is now close to vindicated, with an outperformance of less than 2.5% relative to the market, within what I consider to be a rounding error. This begs the obvious question of what exactly caused this normalization. My last article was in early March; we're now 4 months later in early July. The company reported its year-end results for the 2026 fiscal year about 2 months ago. So in this article, I'll be reviewing both the 2026 results, I will be reviewing the company's plans for the future (also stated at the time), and determining the likelihood of that plan and its financial results. My claims or forecasts in my last article were that Mitsui's earnings were close to a peak - this turned out to be correct. I also expected that the tailwinds that the company has been enjoying are going to start fading soon , by which I meant commodity-related upswings - this has also been largely vindicated. The general view I held was that the company's potential RoR would be very poor - and this was also correct. Let me show you why these things were correct and what's likely to (in my view) happen from here on out. Mitsui: Things have gone down, and I believe they're likely to stay down First things first, the full-year results for Mitsui. The company saw a decline in most operating metrics, both cash flow and profit, with a substantial drop in ROE. Mitsui Investor Presentation 2026 IR Desp...

U.S. Data Center Market U.S. Data Center Market Dublin, July 09, 2026 (GLOBE NEWSWIRE) -- The "U.S. Data Center Market Landscape 2026-2031" has been added to ResearchAndMarkets.com's offering. The U.S. data center market is poised for significant expansion with a forecasted CAGR of 8.75% from 2025 to 2030. This growth is underpinned by several dynamic trends and technological advancements. AI Revolutionizing Data Centers The AI sector is expected to triple the capacity of hyperscale data centers

Meta plans September in-house AI chip production grafa.com

据知情人士透露，由阿波罗全球管理公司（Apollo Global Management Inc.）和黑石集团安排的这笔债务，预计将在未来几个月内开始部分提取，这意味着它将具备交易资格。据这些人士称，到明年初，约有150亿美元的债务可供交易。投资者预计到2027年夏季，该债务包中将有约240亿美元被提取。该债务最初在私募配售市场发行，一旦资金被提取，便将在144A市场开始交易。在该市场中，包括保险公司和共同基金在内的合格机构投资者可以买卖债务证券。（新浪财经）

Semiconductor stocks broadly rose on Thursday with memory-chip makers, including Sandisk, among the top performers.

格隆汇7月10日｜前美联储主席本·伯南克（Ben Bernanke）被任命为Anthropic“长期利益信托”（Long-Term Benefit Trust）的成员。该监督机构旨在确保这家AI公司对其公共使命负责。伯南克将就AI的社会影响等议题提供建议，包括其替代白领工作的潜力，以及对新技术的巨额支出正在助长金融泡沫的担忧。作为信托成员，伯南克有权任命和罢免公司董事会成员，并就包括AI风险和社会影响在内的关键决策向最高管理层提供建议。

Sandisk, Micron Lead Chip Stocks Rally Investor's Business Daily

格隆汇7月10日｜白银连续主力合约日内涨4%，现报14806.00元。

Getty Images Fellow Investors, As America celebrated 250 years of freedom, I spent a few days at the beach with nearly 50 extended family members, marking our 27th consecutive year of beach vacation together. Similarly, Michael’s family made its annual pilgrimage to Fair Haven, NY to stay at the lake house that has been in his family since 1966. It has been a good year at KCA, and it was nice to take a few days off and prepare for the second half. We’re thankful for families (and a country) that have built long-lasting traditions, and hope Kingdom Capital can do the same. Kingdom Capital Advisors’ KCA Value Composite returned 11.97% net of fees in the second quarter. Year-to-date through June 30, 2026, the composite returned 20.94% net of fees, compared with 22.57% for the Russell 2000 TR, 10.18% for the S&P 500 TR, and 20.31% for the Nasdaq 100 TR. Since inception in January 2022, we have compounded at 24.52% net annualized versus 9.18% for the Russell 2000 TR, representing approximately 118 percentage points of cumulative net outperformance. Returns vary by account due to rounding, account size, and timing of deposits or withdrawals. Our top contributors this quarter were Entravision Communications ( EVC ) and Beasley Broadcasting Group ( BBGI ). Our largest detractors were Scully Royalty ( SRL ) and Core Natural Resources ( CNR ). KCA Milestone Q2 brought a new milestone for Kingdom Capital, as it was the first time we filed with the SEC to disclose a 5% position in a single class of stock: June 8th, we disclosed a 7.2% position in Beasley Broadcasting ( BBGI ) Class A shares. While in Vegas for the Planet Microcap conference a few weeks later, I was able to walk the crowd through an overview of our thesis. Beasley has been a difficult long-term investment, with the stock down more than 90% from its peak ten years ago. The company got itself into such a debt predicament that their notes were trading hands for 25 to 30 cents on the dollar. One firm saw an opportun...

Markets may be pricing yesterday's economy. iCapital's Dan Suzuki joined Bloomberg Open Interest to explain why slowing job growth and cooling inflation make Fed rate cuts more likely than hikes, why higher Treasury yields haven't broken the stock rally, and why AI leadership may be shifting away from chipmakers toward hyperscalers that can actually monetize their massive investments. (Source: Bloomberg)

Micron Technology’s stock surges on multibillion-dollar US manufacturing push Crypto Briefing

Recep Tayyip Erdoğan presented engraved revolvers – with bullets – to his guests in Ankara, causing security concerns What does a world leader do with a gun and six bullets? That was the conundrum Nato leaders faced after the Turkish president offered them each a revolver after the Ankara summit. Keir Starmer was the first to mention the highly unusual gift presented by Recep Tayyip Erdoğan to his guests. On the flight back from Ankara, where Nato leaders had gathered for two days, the British prime minister said he and others had received a revolver engraved with their names. Continue reading...

Phillips 66 ( PSX ) declares $1.27/share quarterly dividend , in line with previous. Forward yield 2.68% Payable Sept. 1; for shareholders of record Aug. 18; ex-div Aug. 18. See PSX Dividend Scorecard, Yield Chart, & Dividend Growth. More on Phillips 66 Phillips 66 (PSX) Presents at J.P. Morgan Energy, Power & Renewables Conference 2026 Transcript Phillips 66: A Reliable Growth And Income Play, But Geopolitical Uncertainty Remains Phillips 66: Entering The Next Refining Up-Cycle Refining, petchem earnings face more volatility from Persian Gulf uncertainty, Phillips 66 CEO says Phillips 66 upgraded, HF Sinclair cut at Mizuho as oil prices take until 2027 to normalize

Key PointsNovartis AG maintains a highly profitable portfolio of innovative medicines with significant net margins.

前美联储主席本·伯南克（Ben Bernanke）被任命为Anthropic“长期利益信托”（Long-Term Benefit Trust）的成员。该监督机构旨在确保这家AI公司对其公共使命负责。伯南克将就AI的社会影响等议题提供建议，包括其替代白领工作的潜力，以及对新技术的巨额支出正在助长金融泡沫的担忧。作为信托成员，伯南克有权任命和罢免公司董事会成员，并就包括AI风险和社会影响在内的关键决策向最高管理层提供建议。

伊朗外交部表示，伊朗外长阿拉格齐周四在与巴基斯坦陆军参谋长通电话时，谴责美国对伊朗的袭击违反了《伊斯兰堡谅解备忘录》，并警告美国不要再采取任何军事“冒险主义”行为。伊朗革命卫队海军周四稍早表示，美国对伊朗的袭击以及干预霍尔木兹海峡航线调整的行为，正在扰乱这条战略水道逐步重开的进程，并危及从中受益各国的利益。革命卫队还警告称，美国任何进一步的干预都将招致“毁灭性的反击”

For every investor who wants more Elon Musk , Wall Street increasingly has an ETF . Now it’s planning some for investors who want less. Upstart issuer Subversive ETFs submitted paperwork to launch a pair of exchange-traded funds that would track the Nasdaq 100 and S&P 500 while excluding companies founded, controlled or led by the world’s richest person . The proposed products — with the tickers QQNE and SPNE — are the latest sign of how quickly the ETF industry is slicing broad market exposure into increasingly specific investment views. The filings extend a years-long race to package almost every opinion about Musk into a tradable product. Investors can already buy leveraged funds that magnify gains or losses in Tesla Inc. , newly launched leveraged funds tied to SpaceX and, up until recently, even had the ELON ETF, which paired a long position in Tesla with a short bet against Ford Motor Co. The latest offerings would let investors own almost the entire benchmark while expressing a specific view on one individual. In effect, they turn a passive index fund into an active opinion about one person. Read more: Anti-Musk Retail Investors Steer Clear of SpaceX in Portfolios What began as a business built around low-cost index investing has increasingly evolved into one built around personalization. As demand for niche products has exploded, issuers have rushed to create funds that don’t just track markets but express increasingly specific convictions about individual companies, executives and investment themes. Whether there is lasting demand for “ex-Elon” portfolios remains to be seen. But the filing underscores a broader reality of today’s ETF boom: if investors can imagine a trade, Wall Street increasingly believes it can wrap it in a ticker. “Elon Musk is a highly polarizing figure, so it makes sense that an ETF issuer might seek to capitalize on this,” said Nate Geraci , president of NovaDius Wealth Management. “That said, if we’re now in an ETF world where issuer...

(Bloomberg) -- For every investor who wants more Elon Musk, Wall Street increasingly has an ETF. Now it’s planning some for investors who want less.Most Read from BloombergMicrosoft’s Xbox to Shift Obsidian Studio to New ‘Fallout’ Video GameNvidia’s $1 Trillion Slide Sends Valuation to Pre-AI Boom LevelsTrump Vents Anger With Iran and Warns Ceasefire May Be ‘Over’US Military Launches Strikes on Iran for Second Straight DayGreece Offers Bounty to Catch Ravenous Fish Lured by Warming SeaUpstart is

ALAB Rides on Strong Demand for PCIe Solution: A Sign for More Upside? Zacks Investment Research

JHVEPhoto The U.S. derivatives regulator reportedly will reject CME Group's ( CME ) application to fast-track a round-the-clock oil contract due to concerns that the energy market won't have the capacity to handle a surge of 24/7 derivatives. CME stock fell 2.3% in Thursday midday trading. In June, CME said it's planning to offer 24/7 trading of a new 10-barrel futures contract tied to West Texas Intermediate oil to satisfy investors' desire to manage their positions "whenever news breaks." On Wednesday, the company filed to self-certify the new contract, giving the U.S. Commodity Futures Trading Commission a day to act before the contract lists, the Financial Times reported Thursday. CFTC Chairman Michael Selig plans to block the CME self-certification following meetings with energy company executives, including those at Shell, Vitol, BP, and ExxonMobil, in recent weeks, the newspaper said, citing a person familiar with the matter. Another application made by CME ( CME ) for the same product, which involves a 45-day review process, is still under consideration by the regulator, the article said. The regulator was concerned that quick approval of the mini-contract would lead to a rush of larger offerings, straining the market's ability to handle large volumes of trades during periods when it had previously been closed, the person told the FT . CME is planning to use self-certification mainly for “smaller” 24/7 versions of an existing product. By contrast, a standard oil futures contract is for 1,000 barrels. More on CME CME Group's Pullback Does Not Change The Rating CME: An Extreme Session Per Decade Has Become One Per Month CME Group Inc. (CME) Presents at Piper Sandler Global Exchange and Fintech Conference Transcript CME's Q2 daily volume hits its second-highest reading CME sues CFTC over Kalshi, Coinbase perpetual futures offerings - report