panida wijitpanya/iStock Editorial via Getty Images Finally, Meta is reportedly selling compute Finally, Meta CEO Mark Zuckerberg has understood the importance of having a cloud computing business, as Meta ( META ) has reportedly been looking to sell compute for the first time. I'm not sure how long Meta has been thinking about this venture, as I have made several points in my past coverage on the company about the disadvantage of Meta not having this hyperscaler business of serving compute to others. Especially when we saw how Google's transformation ( GOOGL ) ( GOOG ) from just a digital advertising company to now a fast-growing hyperscaler with an end-to-end stack, I believe Meta saw the bifurcation that the market has placed between them and Google, given that Meta's valuation has now dropped to below 19x forward earnings. Meta still needs a lot of compute through the rest of the decade (SemiAnalysis) Even before this news broke recently, Meta is already on track to hit “5GW of capacity across Cloud and colo,” as stipulated in a recent SemiAnalysis technical update. And what's more, it should be noted that it doesn't include its growing internal buildout, right? So everything is cumulative to make Meta a fearsome competitor if it does get its cloud computing ambitions off the ground rapidly. And I mentioned before in my last update that the market hasn't really given enough respect to Meta's core business growth. So, I think the scale of its compute buildout should have disproved it. The company's recommendation systems have proved that as Meta scales its capacity, it becomes even more effective. This is the proprietary data flywheel, right? That bolsters Meta's thesis because which other company has that amount of data, running into trillions of ads that could potentially convert over time? Don't underestimate Meta's ability to increase its ROAS through AI Meta launches its Muse image generator for advertising AI. (Stratechery) It has to be Meta, which is why t...

wildpixel/iStock via Getty Images Transcript Greg Hall: Hey everybody. Welcome to another episode of Accrued Interest, PIMCO's podcast dedicated to serving financial advisors and their clients. I'm your host, Greg Hall, as always. And I have with me today another Greg - Greg Sharenow, who you may remember from last year. We had Greg on. Greg heads our commodity and real asset investment area here at PIMCO. And we had him on to discuss, amongst other things, gold in that run-up last year. And today we're going to talk about the energy complex and some of the long-term structural forces influencing energy around the globe, but we might find our way into a few other areas of commodities. Greg, thanks for taking the time away from the desk to be with us and to speak to the folks who listen to us. Greg Sharenow: Thanks for inviting me. I always love our time together here, Greg. Greg Hall: Yeah. Look, I know it's volatile, notwithstanding the MOU that's now in place between Iran and the US. Markets are still moving. And I know the headlines change by the minute, and so you're glued to your desk, to your screen, trying to stay on top of things. So, in that context, it's all the more appreciated that you would take a half hour here to speak to us. Maybe we start there, Greg, if that's all right. I think that's what's on most advisors' minds right now, which is, you know, how do we interpret the MOU? What do we think the implications are in the near term for the normalization of oil traffic through the Straits of Hormuz? And then maybe we'll get into some longer-term impacts of what this is going to mean three, five, ten years down the road for energy traffic and energy trade. Greg Sharenow: Yeah. So, I think it's a great question, a great place to start, because we are talking about the largest energy-producing region - and not just energy. Big export of aluminum, big export of helium. You know, there's a variety of fertilizers. Like, this is a very important topic to disc...

Schroptschop/iStock via Getty Images By Carsten Brzeski , Global Head of Macro No, it was not an insurance rate hike, but a rate hike based on thorough analysis. This is the main message provided by ECB President Christine Lagarde at the last press conference, and it was also repeated in the just-released minutes of the meeting. While we still think that an insurance rate hike should always be based on a thorough analysis, the aim of the ECB’s communication was clear: it was higher inflation and higher inflation projections that called for a rate hike, rather than the ECB's concerns with its own credibility. Anyhow, here are some of the more remarkable statements from the minutes: The ECB is trying to deal with Ireland. “With regard to economic activity, members concurred with the assessment presented by Mr. Lane. Adjusting for a temporary factor in Ireland, the euro area economy had grown in the first quarter of the year, supported by domestic demand and exports. When this adjustment was not taken into account, euro area GDP had unexpectedly contracted by 0.2% in the first quarter, owing to a sharp reduction in measured multinational activity in Ireland. It was important that the economic assessment and communication distinguish statistical effects in Ireland from economic fundamentals, primarily by focusing on the modified domestic demand indicator for economic activity in Ireland developed by staff.” Risks to the growth outlook tilted to the downside, but the ECB remains less concerned about the adverse impact of an energy price shock. “Members assessed that the risks to the growth outlook were to the downside, mainly owing to the war in the Middle East, which had added to the volatile global policy environment… It was also argued that the euro area economy had become more adaptable to energy shocks, reflecting its reduced dependence on fossil fuels.” Without naming it, the ECB also tackled Harry Styles-induced inflation in the Netherlands. “All of this implied t...

Tradr ETFs, a provider of ETFs designed for sophisticated investors and professional traders, announced that it expects to launch two single stock leveraged ETFs on Wednesday, July 15. The Cboe-listed funds seek to deliver two times short (-200%) the daily performance of a specific underlying stock.

Former Federal Reserve Chairman Ben Bernanke has been appointed to Anthropic’s long-term benefit trust, an oversight body meant to keep the artificial intelligence company accountable to its public mission. Bernanke, an economist who is currently a distinguished fellow at the Brookings Institution, led the Federal Reserve during the 2008 global financial crisis and recovery. Prior to his time in government, Bernanke was chair of the economics department at Princeton University, and earned a Nobel Prize for his work researching the Great Depression. The appointment comes at a time of increased anxiety about the societal impact of AI, from its potential to replace a wide swath of white-collar jobs to concerns that rapid spending on the new technology is fueling a financial bubble. Anthropic, which is one of the most valuable startups in the world, will now have Bernanke to advise on such topics. Chief Executive Officer Dario Amodei has predicted that increasingly advanced AI technology could replace as much as half of all white-collar work in the coming years. “The potential of artificial intelligence is enormous, and so is the range of outcomes,” Bernanke said in a statement Thursday announcing his appointment. “How that potential plays out will depend, in part, on the institutions we build around it.” As members of Anthropic’s long-term benefit trust , Bernanke and his three fellow trustees have the ability to appoint a majority of the members of the corporate board of directors, as well as remove the directors they appoint. Members of the trust don’t hold a financial stake in the company, and their role is meant to ensure that Anthropic as a public benefit corporation is balancing the public’s interest alongside those of investors. Anthropic said the trustees are expected to advise top management on critical decisions, including those involving the risks and societal impacts of AI. “Anthropic has created a unique governance structure to try to ensure that the long-...

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The conflict between the U.S. and Iran is driving mortgage rates up, adding hundreds of dollars a month in extra costs for prospective home buyers.

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panida wijitpanya/iStock Editorial via Getty Images Finally, Meta is reportedly selling compute Finally, Meta CEO Mark Zuckerberg has understood the importance of having a cloud computing business, as Meta ( META ) has reportedly been looking to sell compute for the first time. I'm not sure how long Meta has been thinking about this venture, as I have made several points in my past coverage on the company about the disadvantage of Meta not having this hyperscaler business of serving compute to others. Especially when we saw how Google's transformation ( GOOGL ) ( GOOG ) from just a digital advertising company to now a fast-growing hyperscaler with an end-to-end stack, I believe Meta saw the bifurcation that the market has placed between them and Google, given that Meta's valuation has now dropped to below 19x forward earnings. Meta still needs a lot of compute through the rest of the decade (SemiAnalysis) Even before this news broke recently, Meta is already on track to hit “5GW of capacity across Cloud and colo,” as stipulated in a recent SemiAnalysis technical update. And what's more, it should be noted that it doesn't include its growing internal buildout, right? So everything is cumulative to make Meta a fearsome competitor if it does get its cloud computing ambitions off the ground rapidly. And I mentioned before in my last update that the market hasn't really given enough respect to Meta's core business growth. So, I think the scale of its compute buildout should have disproved it. The company's recommendation systems have proved that as Meta scales its capacity, it becomes even more effective. This is the proprietary data flywheel, right? That bolsters Meta's thesis because which other company has that amount of data, running into trillions of ads that could potentially convert over time? Don't underestimate Meta's ability to increase its ROAS through AI Meta launches its Muse image generator for advertising AI. (Stratechery) It has to be Meta, which is why t...

Mark Hill, the new mayor of Frisco, Texas, talks about the challenges and opportunities of managing a city whose population has soared soared 600% and whose tax base is up 2,200% in the past 25 years. He speaks with Bloomberg's Julie Fine. (Source: Bloomberg)

Key PointsMany people know to plan for healthcare expenses in retirement.

UK digital lender Lendable Ltd. is raising £500 million ($671 million) by selling securities backed by a portfolio of personal loans, a deal that would support its ambitions to push further into lending. The Goldman Sachs Group Inc. -backed firm on Thursday finalized terms of the deal, marking the first time it’s tapped the public asset-backed securities market to raise capital, according to a person familiar with the matter, who asked not to be identified discussing private information. Lendable has originated more than £10 billion in consumer credit assets since its formation over a decade ago, billing itself as the top issuer of personal loans in the UK. The firm reported £446 million of revenue in 2024, up 90% from the year prior, according to a statement. The European market for asset-backed securitizations has traditionally been dominated by deals backed by mortgages. But increasingly, the market for deals backed by shorter-term, higher-yielding debt, such as car and unsecured personal loans, has been growing. Securitized notes backed by consumer loans from Admiral Financial Services Ltd. are also currently being marketed, with a deal set to be finalized this week. In continental Europe, another specialist lender, Auxmoney Investments Ltd., is selling a deal backed by German consumer loans. The portfolio backing the Lendable deal consists of unsecured consumer loans extended to private individuals in the UK. Moody’s Ratings expects the lifetime default rate of the portfolio to be 7.9% and expected recoveries of 20%, based on the “current economic outlook” of the UK, according to a report. Demand for the deal was at least two times oversubscribed covered across all the bond tranches, while some of the lower tranches saw enough demand to cover it eight times over, according to the person familiar. Societe Generale SA and Wells Fargo & Co. are arranging the deal.

Justin Baldoni and his wife spoke for the first time in nearly two years about his contentious legal battle with Blake Lively.

Getty Images In the following lines, we will take a deep look at the Virtus Convertible & Income Fund II ( NCZ ) and its investment-grade preferred stock, which provides the highest current yield, among its peers at the time of writing, of around 6.8%, and has an A credit rating by Fitch. And if you are interested in our last analysis of the fund, you can find it here . NCZ's fact sheet (virtus.com) Virtus Convertible & Income Fund II was issued on 07/31/2003. At the end of the first quarter of 2026, the fund had close to $288.5 in total net assets and $444.5 in total managed assets. The wеighted average maturity is 4.43 years, and the wеighted average current yield is 3.47%. NCZ's number of investments is 216, close to 63% of which are convеrtible securities, 31% high-yield bоnds, and about 4% cаsh and equivalents. The largest part of the sector pоrtfolio (24.77%) is allocated in the "Information Technology" sеctor. Close to 12.37% is in the "Industrial" sector and 12.35% in the "Financial" sector. The crеdit quality of the portfolio is mixеd: around 49% of the positions are unrated, 19% are rated BB, 15% are rated B, and only 16.2% fall into investmеnt grade (A and BBB credit rating). The total leverage ratio of the fund is close to 32%, and the expense ratio is 4.22%. The non-leverage expense ratio is around 1.21%. NCZ's expenses (cefdata.com) The 3-year annualized total return is around 19.18%, the 5-year total return is close to 4.49%, and the 10-year total return is around 8.23%. total returns (cefdata.com) Below is shown the 10-year premium/discount chart of the NCZ. Currently, the common stock is traded at a price of $15.43, with a close to 10% of discount, which is really close to the average discount for the last 5 years of the fund. 10-year premium/discount chart of the fund (author's database) In the next chart is a 3-year total return comparison - you can see how well NCZ is correlated with the iShares Convertible Bond ETF ( ICVT ) and State Street® SPD...

美国连续第二天对伊朗发动军事打击，伊朗则对波斯湾地区美国盟友展开报复。在外交努力几乎没有取得进展之际，外界对双方重回战争状态的担忧加剧。 美国中央司令部在X平台表示，美军一夜之间打击了约90个目标——此前一天已打击80个目标——“以进一步削弱”伊朗袭击霍尔木兹海峡商船的能力。 伊朗表示，一座核电站的外围以及连接首都德黑兰与马什哈德的两座铁路桥遭到袭击。伊朗已故最高领袖 阿里 ·哈梅内伊将于周四安葬于马什哈德。 据半官方的伊朗学生通讯社（ISNA）报道，伊朗随后对巴林、科威特和卡塔尔境内的美军基地发动袭击。约旦国家电视台报道称，该国拦截了8枚伊朗发射的导弹。 美国总统唐纳德·特朗普在“空军一号”上对记者表示：“他们每打我们一次，我们就回击20次。” 当被问及美伊是否正重回全面战争时，特朗普回答：“我不知道。”他补充说：“我们会很快取胜。我们有很多取胜之道。” 此次冲突发生在美伊签署临时和平协议约三周后。该协议启动了为期60天的谈判期，以解决双方冲突中的遗留问题。由于伊朗正在为哈梅内伊举行为期一周的大规模葬礼，谈判目前处于暂停状态，尚未取得突破。 美国已撤销允许新的伊朗石油销售交易的豁免——这是临时协议的一项内容。美方称，此举是对霍尔木兹海峡船只遇袭事件的回应，并将袭击归咎于伊朗。 周四，霍尔木兹海峡通航几近停滞。伊朗坚持认为自己对这条航道拥有控制权，这也是双方分歧最大的议题之一。 据伊朗国家媒体IRIB报道，伊朗伊斯兰革命卫队海军周四表示，美军若干涉霍尔木兹海峡的航线规划，将严重干扰该海峡逐步重开的进程，并危及依赖该水道的国家的利益。 责任编辑：江学思

Key PointsThe transaction involved 2,827 shares with an estimated value of ~$291,000 based on the July 7, 2026, execution price.

Jim Cramer stared down a stock yielding 7% and sitting near its 52-week low, and still would not tell viewers to buy it. On the July 7 episode of CNBC’s Mad Money, a caller from Orland Park, Illinois pitched Pfizer as an income-and-value setup, and Cramer conceded the case looked tempting. He landed on a ... ‘It Kills Me to Say That’: Cramer Won’t Recommend Pfizer, Even With Its 7% Dividend

The window to lock in three July dividend checks is closing fast. Two of these stocks, Science Applications International and NetApp, go ex-dividend tomorrow, meaning today is the last trading day to buy shares and still qualify for the upcoming payment. A third, Bank OZK, gives investors a slightly longer runway into next week. All ... 3 Dividend Stocks You Have to Buy Now to Get Paid in July

Corn and soybean futures were easing on pressure from an improving US weather outlook as traders looked ahead to the monthly WASDE supply and demand outlook due Friday. Analysts surveyed by Bloomberg expect the US Department of Agriculture to lift soybean production estimates and lower the forecast for corn in a report that typically leads to a spike in volatility. The report will come as expected temperatures in the coming days in the Midwestern crop belt “should remain below stressful thresholds for reproductive corn and soybeans” while there’s also chances for rainfall, according to a USDA forecast . The weather is “increasing selling pressure in the grain and oilseed complex as fund managers pencil in higher yields, versus the risk of lower yields feared previously,” StoneX chief commodities economist Arlan Suderman said in a note. Analysts expect few changes in corn or soybean yield estimates in Friday’s USDA report, with corn’s critical month of development of July just getting going while August is seen more crucial for most American soybean fields. Any adjustment from the USDA on production is expected to be linked to the annual acreage report from June 30, with more substantive changes in yield possible as early as next month. Corn futures fell by as much as 1.6%, heading for the second straight decline after reaching a roughly one-month high. Soybeans eased by as much as 0.8%. The agency earlier Thursday said exporters sold 136,000 tons of US soybeans to China and 120,000 tons to unknown destinations. The volumes add to the biggest sale since November , which was reported Wednesday as traders continue watching for China to meet targets laid out by the White House to import 25 million tons of US soybeans annually and $17 billion in agricultural purchases prorated for this year. Corn was down 0.6% to $4.5350 a bushel as of 11:24 a.m. in Chicago Soybeans dropped 0.7% to $11.8425 a bushel Wheat was up 2.1% to $6.2050 a bushel (Sign up for Business of Food , a ...

格隆汇7月10日｜据CNN，地区消息人士证实，巴基斯坦和卡塔尔正在努力促使美国和伊朗重返谈判桌。此前伊朗学生通讯社报道称，巴基斯坦仍在斡旋，美伊谈判窗口或再开启。

【有線新聞】貝安德出任大曼徹斯特市長9年，帶領經濟發展跑贏英國其他地區，黨內外人氣高企。被稱為「北方之王」的貝安德揚言將「曼徹斯特主義」模式，推展至全國，向地方下放權力，主導政治和經濟發展。 貝安德：「當前是轉變的時刻，我們有機會扭轉局勢，令英國恢復運作。」貝安德得到工黨黨友辭職「讓路」，成功透過補選晉身為下議院議員，最重要是得以「入閘」，邁向工黨黨魁以至首相之位。 56歲的貝安德2001年首度當選大曼徹斯特的國會議員，之後加入貝理雅及白高敦政府，當過文化大臣和衛生大臣。2010年及2015年兩度挑戰工黨黨魁，均失敗而回。他決定離開西敏寺政治中心，行另一條路，回歸大曼徹斯特深耕，反而做出卓越成績。 貝安德有一套「曼徹斯特主義」的治理理念，透過地方分權主導經濟發展，組織投資、引導產業、創造就業、推進房屋、交通、能源基建和城鎮再生項目發展。他主張地方社會民主主義，將私人投資引進公共服務，代表作是「蜜蜂網絡」交通改革，將大曼徹特巴士及電車收歸政府控制，再交予營運商特許經營，巴士車資獲得減半服務質素提升。 貝安德主政9年，帶領曼徹斯特煥發生機，經濟增長跑贏英國其他地方。他形象「貼地」，也敢於跟中央抗衡，維護地方權益。在新冠疫情封城期間，批評保守黨政府輕視英格蘭北部民眾的需要，就地方財政資源向時任首相約翰遜力爭，被冠以「北方之王」稱號。他的政績及政治魅力成為挽救工黨的希望，重返下議院宣誓當日，跟200名工黨議員的大型自拍照，足以反映黨內支持一面倒。 貝安德稱若就任首相，會延續他下放權力的治理模式，在曼徹斯特設「北方10號」，將唐寧街10號首相府部分職能遷出倫敦，將「曼徹斯特主義」推展至全英國，地方政府享有更大財政話語權，刺激經濟。他以往主張收緊移民政策，重返歐盟，削減福利及改革教育。

Apple and Nvidia are the world’s largest publicly traded companies by market capitalization, and they have the technical foundation to lead a Mag 7 resurgence.

Here’s a roundup of numbers from the last week — including how many workers were targeted in job scam attempts.

美国股市上涨，投资者抛开对美伊最新冲突的担忧，转而纷纷买入科技股。尽管中东冲突加剧，但投资者仍关注人工智能投资热潮在本周早些时候芯片股大幅下跌后依然保持强劲的迹象。高盛集团交易部门在一份报告中写道：“我们的客户对话并未显示出对人工智能交易或资本支出前景存在任何实质性的基本担忧，客户普遍认为近期的市场调整主要属于技术层面而非基本面因素。”贝莱德经济学家海伦·朱维尔也持相同观点，她表示，尽管最大的科技公司开始产生负自由现金流，并越来越多地通过债务市场融资扩张，但人工智能领域的投资承诺仍应继续支持这一投资主题，至少再维持两到三年。

The latest tally of analyst opinions from the major brokerage houses shows that among the components of the S&P 500 index, Palo Alto Networks is now the #41 analyst pick, moving up by 2 spots. This rank is formed by averaging the analyst opinions for each component