President Donald Trump nominated Brian Johnson , who served in the Consumer Financial Protection Bureau in Trump's first term, as permanent director of the agency for the rest of his second administration. Johnson had served as deputy to CFPB Director Kathy Kraninger in the first Trump administration. Since he left the CFPB in 2020, he has worked at Patomak Global Partners and was most recently a ...
President Donald Trump nominated Brian Johnson , who served in the Consumer Financial Protection Bureau in Trump's first term, as permanent director of the agency for the rest of his second administration. Johnson had served as deputy to CFPB Director Kathy Kraninger in the first Trump administration. Since he left the CFPB in 2020, he has worked at Patomak Global Partners and was most recently a senior executive at credit card issuer Capital One Financial ( COF ), the Associated Press reported. The nomination is for a term of five years, but the director typically changes with each administration. The CFPB has been largely inoperable since Trump's second term. Russell Vought, Trump's budget director, has been heading the agency on an acting basis. Much of its activity has been focused on rolling back prior rules. The bureau was formed in the aftermath of the 2008 financial crisis as an independent financial regulator with broad authority over consumer financial products and services. Republicans have argued that the CFPB has too much power, isn't accountable to Congress, and has placed too heavy a regulatory burden on consumer finance companies. While Johnson has been a critic of the CFPB's work, he hasn't gone as far as Vought, who has advocated shutting down the bureau. In 2023 testimony in the House, Johnson backed an overhaul of the agency and said that " properly structured and managed, (the CFPB) is capable of great good." Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on the CFPB Acting CFPB chief suspends supervision of companies: reports Judge blocks White House from cutting off CFPB funding U.S. judge throws out CFPB credit card fee cap
4kodiak/iStock Unreleased via Getty Images Wall Street is already expecting an enormous AI ( AIQ ) ( AIEQ ) spending boom, but Goldman Sachs thinks even those forecasts may be too conservative. Consensus estimates imply hyperscaler ( ORCL ) ( MSFT ) ( GOOGL ) ( GOOG ) ( META ) ( AMZN ) capex will hit $757B this year, up 84% from 2025, before rising to $920B in 2027. That would still be a record, b...
4kodiak/iStock Unreleased via Getty Images Wall Street is already expecting an enormous AI ( AIQ ) ( AIEQ ) spending boom, but Goldman Sachs thinks even those forecasts may be too conservative. Consensus estimates imply hyperscaler ( ORCL ) ( MSFT ) ( GOOGL ) ( GOOG ) ( META ) ( AMZN ) capex will hit $757B this year, up 84% from 2025, before rising to $920B in 2027. That would still be a record, but it would also mark a major slowdown in growth to 22%. If AI infrastructure spending follows the kind of investment cycle seen during the railroad and auto buildouts, with incremental investment reaching 2% to 3% of gross domestic product, hyperscaler capex could climb closer to $1.1T in 2027, Goldman estimated in a recent note. In a more aggressive scenario, supported by hyperscaler cash flow and investment-grade credit market capacity, spending could reach roughly $1.4T. Goldman Sachs Research More on Oracle, Microsoft, etc. Oracle: Out-Of-Touch Valuation Microsoft Remains A Generational Buying Opportunity In The Agentic AI Era Wall Street Breakfast Podcast: No Reward For Oracle's Beat Oracle slumps after Q4; analysts mull gross margin pressure, capital raise plans Google talking to Samsung about manufacturing part of TPU: report
4kodiak/iStock Unreleased via Getty Images Wall Street is already expecting an enormous AI ( AIQ ) ( AIEQ ) spending boom, but Goldman Sachs thinks even those forecasts may be too conservative. Consensus estimates imply hyperscaler ( ORCL ) ( MSFT ) ( GOOGL ) ( GOOG ) ( META ) ( AMZN ) capex will hit $757B this year, up 84% from 2025, before rising to $920B in 2027. That would still be a record, b...
4kodiak/iStock Unreleased via Getty Images Wall Street is already expecting an enormous AI ( AIQ ) ( AIEQ ) spending boom, but Goldman Sachs thinks even those forecasts may be too conservative. Consensus estimates imply hyperscaler ( ORCL ) ( MSFT ) ( GOOGL ) ( GOOG ) ( META ) ( AMZN ) capex will hit $757B this year, up 84% from 2025, before rising to $920B in 2027. That would still be a record, but it would also mark a major slowdown in growth to 22%. If AI infrastructure spending follows the kind of investment cycle seen during the railroad and auto buildouts, with incremental investment reaching 2% to 3% of gross domestic product, hyperscaler capex could climb closer to $1.1T in 2027, Goldman estimated in a recent note. In a more aggressive scenario, supported by hyperscaler cash flow and investment-grade credit market capacity, spending could reach roughly $1.4T. Goldman Sachs Research More on Oracle, Microsoft, etc. Oracle: Out-Of-Touch Valuation Microsoft Remains A Generational Buying Opportunity In The Agentic AI Era Wall Street Breakfast Podcast: No Reward For Oracle's Beat Oracle slumps after Q4; analysts mull gross margin pressure, capital raise plans Google talking to Samsung about manufacturing part of TPU: report
Sign up now! Sign up now! Sign up now? Sign up now! Happy GWC Day everyone! Sure, Bigger Cup may have become the pinnacle of football in the 21st century, but nothing stirs the child within like the beginning of a Geopolitics World Cup. The 23rd edition kicks off on Thursday when co-hosts Mexico face South Africa at the Azteca Stadium, a venue that is a World Cup Proustian rush all on its own. The...
Sign up now! Sign up now! Sign up now? Sign up now! Happy GWC Day everyone! Sure, Bigger Cup may have become the pinnacle of football in the 21st century, but nothing stirs the child within like the beginning of a Geopolitics World Cup. The 23rd edition kicks off on Thursday when co-hosts Mexico face South Africa at the Azteca Stadium, a venue that is a World Cup Proustian rush all on its own. The two greatest players of all time, Pelé and Diego Maradona, both won the World Cup in that stadium. Kylian Mbappé, Cristiano Ronaldo, Lamine Yamal and the other modern greats won’t be able to do that this year, as the final is being played in the USA USA USA. As you may have read, that country is currently run by a disinfectant-peddling despot, and its approach to inclusivity has been one of many controversies heading into the tournament. Continue reading...
Elliot Anderson would prefer a move to Manchester City over Manchester United should a deal be agreed with Nottingham Forest after a second offer was rejected.
Elliot Anderson would prefer a move to Manchester City over Manchester United should a deal be agreed with Nottingham Forest after a second offer was rejected.
Key PointsLexicon Pharmaceuticals focuses on precision medicines for chronic conditions, bolstered by significant revenue growth from its core drug programs.
Key PointsLexicon Pharmaceuticals focuses on precision medicines for chronic conditions, bolstered by significant revenue growth from its core drug programs.
NoDerog/E+ via Getty Images The Iran conflict and rising inflation risk have continued to widen the market premium for the 10-year yield ( US10Y ) relative to a fair value estimate. As discussed last month, a shift in market sentiment appeared to be unfolding, and today’s update for May underscores the change. Market conditions have clearly evolved in recent weeks, with the 10-year yield trending ...
NoDerog/E+ via Getty Images The Iran conflict and rising inflation risk have continued to widen the market premium for the 10-year yield ( US10Y ) relative to a fair value estimate. As discussed last month, a shift in market sentiment appeared to be unfolding, and today’s update for May underscores the change. Market conditions have clearly evolved in recent weeks, with the 10-year yield trending higher and closing at 4.56% in yesterday’s trading (June 10). The current yield is near a 12-month high. The market premium is also climbing again. The 10-year yield now stands 48 basis points above a fair value estimate, the highest premium since July 2025, based on monthly data through May via The Capital Spectator’s ensemble model. The reversal in what had been a declining premium is easier to see in the next chart, which tracks the spread for the current 10-year yield less its fair value estimate. Before the war began, the market premium had been trending lower, unwinding the surge tied to the pandemic-era inflation spike. That normalization phase has now reversed as investors reassess the inflation and macro risks associated with the Middle East conflict. Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
Minister accuses Keir Starmer of putting UK’s security at risk at a time of growing international threats UK politics live – latest updates The defence secretary, John Healey, has resigned over the government’s military spending plans, accusing Keir Starmer and Rachel Reeves of putting the country’s security at risk at a time of growing international threats. In a blistering resignation letter tha...
Minister accuses Keir Starmer of putting UK’s security at risk at a time of growing international threats UK politics live – latest updates The defence secretary, John Healey, has resigned over the government’s military spending plans, accusing Keir Starmer and Rachel Reeves of putting the country’s security at risk at a time of growing international threats. In a blistering resignation letter that further undermines the prime minister’s already fragile authority, Healey said the long-awaited defence investment plan (Dip) fell well short of what was needed to protect the UK at such a dangerous moment. Continue reading...
A wave of oil from the Middle East is set to arrive in Europe next month, a tangible example of how a collapse in Chinese imports is helping other countries to cope with the unprecedented supply disruption wrought by the Iran war. At least six supertankers carrying a combined of 12 million barrels of crude from the United Arab Emirates and Oman are currently set to arrive in Europe next month, wit...
A wave of oil from the Middle East is set to arrive in Europe next month, a tangible example of how a collapse in Chinese imports is helping other countries to cope with the unprecedented supply disruption wrought by the Iran war. At least six supertankers carrying a combined of 12 million barrels of crude from the United Arab Emirates and Oman are currently set to arrive in Europe next month, with majority of the cargoes to be discharged in northwest Europe, traders handling both nations’ grades said, asking not to be identified because they aren’t authorized to speak publicly. An oil tanker is also signaling that it’s sailing to Rotterdam from Iraq. When the war broke out, traders initially raced for supplies away from the Persian Gulf. But the market quickly calmed down again as it became clear that top importer China was scaling back its own buying sharply. That’s averted what could have been a bigger oil price rally and offered other countries access to cargoes that otherwise would have gone to the Asian nation. For decades, Europe has taken only a small portion of crude from the Middle East, turning to more local sources of supply, and also lifting imports from the US when the Ukraine war meant a halt to imports from Russia. Exports from Oman are shielded from the Iran war because the country’s ports sit outside of the Persian Gulf, meaning tankers don’t have to sail through the Strait of Hormuz to collect those barrels and take them to customers. Some, but not all, of the crude from the UAE that are set for Europe have come from outside of the gulf too. The unusual flows have been driven by a rare trading arbitrage that opened as China stepped back. The premium of Brent futures to Dubai crude swaps, also known as Brent-Dubai exchange of futures for swaps , or EFS, expanded to nearly $10 a barrel last week from $6.75 on May 29, according to PVM Oil Associates data. A wider EFS increases the attractiveness of Dubai-linked grades, including those produced in the...
Jenny Lee, Senior Managing Partner, Granite Asia and Mingchen Xia, Managing Director & Co-Head of Asia Investments, Hamilton Lane struck a bullish tone on the private credit market speaking with Bloomberg’s Lulu Chen at Bloomberg Invest 2026 in Hong Kong. (Source: Bloomberg)
Jenny Lee, Senior Managing Partner, Granite Asia and Mingchen Xia, Managing Director & Co-Head of Asia Investments, Hamilton Lane struck a bullish tone on the private credit market speaking with Bloomberg’s Lulu Chen at Bloomberg Invest 2026 in Hong Kong. (Source: Bloomberg)
AI dramatically increases engagement, conversion, and revenue while reducing the operational burdens of merchandising at scaleLOS ALTOS, Calif., June 11, 2026 (GLOBE NEWSWIRE) -- Fast Simon today introduced an AI personalization solution purpose-built for merchandisers at mid-market and enterprise e-commerce brands. While most personalization technologies were originally built for massive marketpl...
AI dramatically increases engagement, conversion, and revenue while reducing the operational burdens of merchandising at scaleLOS ALTOS, Calif., June 11, 2026 (GLOBE NEWSWIRE) -- Fast Simon today introduced an AI personalization solution purpose-built for merchandisers at mid-market and enterprise e-commerce brands. While most personalization technologies were originally built for massive marketplaces and ultra-high-traffic e-commerce environments such as AWS or Google, Fast Simon’s AI Personali
Guido Mieth U.S. selected services revenue rose 1.1% to $6,223.1B from $6,158.3B in Q4 2025, against $6,216.3B recorded in the Q1 advance reading, according to data released by the U.S. Census Bureau on Thursday. The figure represents a 6.5% increase from the year-ago quarter. Utilities revenue for the quarter stood at $225.5B, up 4.8% from Q4. Transportation and warehousing revenue increased 2.5%...
Guido Mieth U.S. selected services revenue rose 1.1% to $6,223.1B from $6,158.3B in Q4 2025, against $6,216.3B recorded in the Q1 advance reading, according to data released by the U.S. Census Bureau on Thursday. The figure represents a 6.5% increase from the year-ago quarter. Utilities revenue for the quarter stood at $225.5B, up 4.8% from Q4. Transportation and warehousing revenue increased 2.5% to $378.3B, the Census Bureau said . Information sector revenue grew 2.8% to $683.6B. Meanwhile, finance and insurance revenue saw a 0.4% quarter-over-quarter decrease to $1,896.6B. Real estate and rental and leasing revenue was down 0.5% to $276.3B. Professional, scientific, and technical services revenue grew 1.0% from the prior quarter to $805.0B. Administrative and support and waste management and remediation services revenue was up 1.8% to $355.4B. Health care and social assistance revenue rose 0.4% to $1,107.1B. Educational services revenue increased 1.1% to $30.3B. Arts, entertainment, and recreation revenue was also up 1.1% to $112.5B. Accommodation revenue grew 2.1% to $89.8B. And, other services (except public administration) revenue fell 0.8% to $250.9B. More on U.S. Economy The K-shaped economy is beginning to narrow – BofA Institute Headline PPI inflation comes in hotter than expected, core PPI M/M increase eases Initial jobless claims unexpectedly rise in past week
Google Quantum AI COO Charina Chou confirmed the decision at the Semafor Tech Summit in San Francisco on June 10, saying the company walked away because of "various conditions that came with the funding" that would have prevented it from moving at its desired pace toward building a functional quantum computer. The disclosure sheds new light on why Google — alongside Microsoft and IonQ — was conspi...
Google Quantum AI COO Charina Chou confirmed the decision at the Semafor Tech Summit in San Francisco on June 10, saying the company walked away because of "various conditions that came with the funding" that would have prevented it from moving at its desired pace toward building a functional quantum computer. The disclosure sheds new light on why Google — alongside Microsoft and IonQ — was conspicuously absent from the Trump administration's list of nine quantum recipients announced last month.