IvanSpasic/iStock via Getty Images Defense Secretary Pete Hegseth sharply criticized European and Asian allies for depending on U.S. military power to secure the Strait of Hormuz after the key energy corridor was effectively shut amid the conflict with Iran , according to Bloomberg . Speaking at a Friday press briefing, Hegseth said Washington’s long-standing security guarantees have allowed allie...
IvanSpasic/iStock via Getty Images Defense Secretary Pete Hegseth sharply criticized European and Asian allies for depending on U.S. military power to secure the Strait of Hormuz after the key energy corridor was effectively shut amid the conflict with Iran , according to Bloomberg . Speaking at a Friday press briefing, Hegseth said Washington’s long-standing security guarantees have allowed allies to “free ride" but argued that expectation must now change. He called for partners to step up militarily, stressing that the U.S. and its allies should be able to rely on one another for both capability and commitment. Hegseth added that the Pentagon-led blockade of the strait is tightening, even as reports emerge of some vessels attempting to bypass U.S. naval patrols. The blockade came after Tehran resisted ceasefire demands from President Donald Trump , with Iranian threats largely halting tanker traffic and driving a sharp increase in global energy prices since hostilities escalated earlier this year. Washington urged European nations, as well as major Asian economies and even China , to contribute naval support to reopen and secure the waterway. So far, however, most countries have refrained from deploying forces amid the ongoing conflict. Hegseth emphasized that Europe and Asia remain far more dependent on Persian Gulf energy flows than the United States, pointing instead to rising U.S. exports as an alternative supply source. He suggested that allies should move beyond rhetoric and take a more active role in ensuring maritime security in the region. 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 markets How To Build A $7,000/Mo Income Using BlackRock's 8% Yielding 32 CEFs The Bullish Case For Commodities Remains Intact Government Debt: Not What The Doom Crowd Thinks It Is U.S. resilience keeps markets buoyant despite geopolitical risks, S...
wdstock/iStock Editorial via Getty Images U.S. President Donald Trump is planning to look into the actions of banks in connection with the 2025 Los Angeles fires , according to Trump's social media post . Trump, especially, called out Wells Fargo ( WFC ) in his post. Los Angeles County Supervisor Kathryn Barger and City Mayor Karen Bass had met with the president to advocate for families who lost ...
wdstock/iStock Editorial via Getty Images U.S. President Donald Trump is planning to look into the actions of banks in connection with the 2025 Los Angeles fires , according to Trump's social media post . Trump, especially, called out Wells Fargo ( WFC ) in his post. Los Angeles County Supervisor Kathryn Barger and City Mayor Karen Bass had met with the president to advocate for families who lost everything. "We had a very positive discussion about FEMA and other rebuilding funds, as well as the support of the president to continue joining us in pressuring the insurance companies to pay what they owe—and for the big banks to step up to ease the financial pressure on LA families," Barger and Bass had said in a joint statement published on Wednesday, April 22. Trump said in his Truth Social post today, "Since my strong action and statements with respect to insurance companies, and the way they were treating the homeowners, that aspect of this disaster has proceeded well." "The banks, however, have a long way to go, and we will be looking into their actions, effective immediately. Wells Fargo, in particular, has been very difficult to deal with," he said in the post. "The banks must treat those people, who so horribly lost their homes in this tragic fire, very fairly and well," said Trump. More on Wells Fargo Wall Street Roundup: Good News, Earnings News Wells Fargo & Company (WFC) Q1 2026 Earnings Call Transcript Wall Street Lunch: Big Banks Open Earnings Season With Mixed Results Wells Fargo lent to MFS as Barclays pulled out - report Private credit seeks billions in credit-card debt incurred by consumers
Artificial intelligence (AI) chipmaker Nvidia (NASDAQ: NVDA) reports its fiscal first-quarter results next month, on May 20. And we can say with near certainty that the numbers will look impressive. After all, the company's most recent quarterly update was exceptional. In its fiscal fourth quarter of 2026 (the period ended Jan. 25, 2026), revenue rose 73% year over year to $68.1 billion. Data cent...
Artificial intelligence (AI) chipmaker Nvidia (NASDAQ: NVDA) reports its fiscal first-quarter results next month, on May 20. And we can say with near certainty that the numbers will look impressive. After all, the company's most recent quarterly update was exceptional. In its fiscal fourth quarter of 2026 (the period ended Jan. 25, 2026), revenue rose 73% year over year to $68.1 billion. Data center revenue, specifically, climbed 75% year over year to $62.3 billion. And earnings per share nearly doubled. Further, management guided for fiscal first-quarter revenue of $78 billion, plus or minus 2%. That would represent another sequential step higher from fiscal Q4. Continue reading
Canadian artificial intelligence firm Cohere, which is backed by Nvidia ( NVDA ), has acquired German AI startup Aleph Alpha, the companies said on Friday. Both the Canadian and German governments have already given their blessing for the merger. Terms of the deal were not disclosed, but German news outlet Handelsblatt reported the combined company will have a $20B valuation. “Combining the streng...
Canadian artificial intelligence firm Cohere, which is backed by Nvidia ( NVDA ), has acquired German AI startup Aleph Alpha, the companies said on Friday. Both the Canadian and German governments have already given their blessing for the merger. Terms of the deal were not disclosed, but German news outlet Handelsblatt reported the combined company will have a $20B valuation. “Combining the strengths of Cohere and Aleph Alpha accelerates our global expansion and advances our mission to deliver sovereign AI to nations around the world,” said Cohere CEO and co-founder Aidan Gomez in a statement. “Organizations globally are demanding uncompromising control over their AI stack. This transatlantic partnership unlocks the massive scale, robust infrastructure, and world-class R&D talent required to meet that demand. Built on the bedrock of shared Canadian and German values—where privacy, security, and responsible innovation are paramount—we are uniquely positioned to be the world's trusted AI partner. Together, we will give enterprises and governments across Canada, Europe, and the world the technology to move from exploration to rapid, secure implementation, with the absolute certainty that their data remains their own.” “Aleph Alpha is in a unique position in Europe,” Ilhan Scheer, co-CEO of Aleph Alpha, added. “We develop specialized large language models for Europe without compromising on Sovereignty, Transparency and Regulatory Compliance. By living this responsibility, we serve as a trusted and strategic partner to public sector and enterprise customers in Europe. Together with Cohere, we are building a real counterweight for organizations that refuse to outsource control over their AI to a single provider or jurisdiction, giving European institutions and enterprises access to powerful, yet controllable AI they can truly own.” In addition to the merger, German retailer Schwarz Group has agreed to invest $600M in Cohere's upcoming Series E funding round. It had previo...
Canadian artificial intelligence firm Cohere, which is backed by Nvidia ( NVDA ), has acquired German AI startup Aleph Alpha, the companies said on Friday. Both the Canadian and German governments have already given their blessing for the merger. Terms of the deal were not disclosed, but German news outlet Handelsblatt reported the combined company will have a $20B valuation. “Combining the streng...
Canadian artificial intelligence firm Cohere, which is backed by Nvidia ( NVDA ), has acquired German AI startup Aleph Alpha, the companies said on Friday. Both the Canadian and German governments have already given their blessing for the merger. Terms of the deal were not disclosed, but German news outlet Handelsblatt reported the combined company will have a $20B valuation. “Combining the strengths of Cohere and Aleph Alpha accelerates our global expansion and advances our mission to deliver sovereign AI to nations around the world,” said Cohere CEO and co-founder Aidan Gomez in a statement. “Organizations globally are demanding uncompromising control over their AI stack. This transatlantic partnership unlocks the massive scale, robust infrastructure, and world-class R&D talent required to meet that demand. Built on the bedrock of shared Canadian and German values—where privacy, security, and responsible innovation are paramount—we are uniquely positioned to be the world's trusted AI partner. Together, we will give enterprises and governments across Canada, Europe, and the world the technology to move from exploration to rapid, secure implementation, with the absolute certainty that their data remains their own.” “Aleph Alpha is in a unique position in Europe,” Ilhan Scheer, co-CEO of Aleph Alpha, added. “We develop specialized large language models for Europe without compromising on Sovereignty, Transparency and Regulatory Compliance. By living this responsibility, we serve as a trusted and strategic partner to public sector and enterprise customers in Europe. Together with Cohere, we are building a real counterweight for organizations that refuse to outsource control over their AI to a single provider or jurisdiction, giving European institutions and enterprises access to powerful, yet controllable AI they can truly own.” In addition to the merger, German retailer Schwarz Group has agreed to invest $600M in Cohere's upcoming Series E funding round. It had previo...
Investing.com -- The U.S. stock market rally that began on March 31 remains intact despite oil over $100, software sector turbulence and unresolved Middle East tensions, according to Yardeni Research, which says the economy continues to ace its stress tests.
Investing.com -- The U.S. stock market rally that began on March 31 remains intact despite oil over $100, software sector turbulence and unresolved Middle East tensions, according to Yardeni Research, which says the economy continues to ace its stress tests.
Welcome to Next Africa, a daily newsletter on where the continent stands now — and where it’s headed. Sign up here to have it delivered to your email. In today’s edition, we look at Aliko Dangote’s refinery plans, and: South Africa’s record corn harvest Rail expansion plans in East Africa The growing demand for pistachios Spreading His Wealth Aliko Dangote is ready to fuel East Africa. Reaping the...
Welcome to Next Africa, a daily newsletter on where the continent stands now — and where it’s headed. Sign up here to have it delivered to your email. In today’s edition, we look at Aliko Dangote’s refinery plans, and: South Africa’s record corn harvest Rail expansion plans in East Africa The growing demand for pistachios Spreading His Wealth Aliko Dangote is ready to fuel East Africa. Reaping the rewards from his big play to build the continent’s largest refinery in Nigeria, Africa’s richest man plans to replicate the mega-plant in Tanzania. The war in the Gulf exposed the continent’s underbelly , an over-reliance on fuel imports from the Middle East, despite its vast energy potential at home. Dangote is now promising to spend some of the $40 billion he’s looking to invest over the next five years to extend his industrial empire on the east coast. An IPO for his industrial firm is expected to raise several billion dollars . It took a decade to complete and hit many hurdles, but the 650,000 barrel-a-day facility near Lagos has turned out to be major boon for the Nigerian economy, and himself. It hit full capacity just before the war in Iran erupted, prompting a flood of requests for fuel from both African and European countries . Now the East Africans are wooing him to do the same there with the promise of crude from Uganda, South Sudan and the Democratic Republic of Congo, and transportation infrastructure in Kenya. There’s already a pipeline under construction to ferry some of landlocked Uganda’s oil to the Tanzanian harbor of Tanga — where the proposed refinery will be situated. Dangote pledged to have a plant similar in size to his Lagos refinery up and running in as little as four years if the region’s leaders worked with him to get it off the ground — receiving immediate backing from Ugandan President Yoweri Museveni and Kenya’s William Ruto at a joint panel in Nairobi yesterday. The scramble for a share of Dangote’s fuel — and the fragility of global geopolit...
Crown Prosecution Service launches action plan to help potential victims and perpetrators understand behaviours Young people may not even realise they have been victims of stalking, the Crown Prosecution Service has said as it launched a scheme to tackle a rise in offending. The number of stalking offences charged by the CPS in England and Wales reached a record high last year of 7,168. More than ...
Crown Prosecution Service launches action plan to help potential victims and perpetrators understand behaviours Young people may not even realise they have been victims of stalking, the Crown Prosecution Service has said as it launched a scheme to tackle a rise in offending. The number of stalking offences charged by the CPS in England and Wales reached a record high last year of 7,168. More than 80% of these were flagged as relating to domestic abuse, meaning most victims were stalked or harassed by someone they knew. Continue reading...