Alex Smalley and Maverick McNealy lead on four under Rory McIlroy makes progress after poor opening day “Golf should be a pleasure,” wrote Donald Ross, the man who designed Aronimink, “not a penance.” And a fine sentiment it is, too, even if it wasn’t immediately clear that any of the many men competing here for the PGA Championship were having very much fun doing it. Shane Lowry didn’t seem to be...
Alex Smalley and Maverick McNealy lead on four under Rory McIlroy makes progress after poor opening day “Golf should be a pleasure,” wrote Donald Ross, the man who designed Aronimink, “not a penance.” And a fine sentiment it is, too, even if it wasn’t immediately clear that any of the many men competing here for the PGA Championship were having very much fun doing it. Shane Lowry didn’t seem to be when he shanked the ball into the water at 17, nor did Scottie Scheffler when he threatened to slam down his wedge after hitting one thick on the 6th, and Justin Thomas and Keegan Bradley didn’t look too enthused when they were busy ranting at the rules officials who put them on the clock for slow play. The pleasure, such as it was, seemed to be mostly in purists’ appreciation of the high standard of lag putting on show, and everyone else’s schadenfreude at watching the world’s best golfers endure the same sort of frustrations amateur hackers suffer every weekend. Continue reading...
Vietnam’s To Lam is a man in a hurry. Since claiming the nation’s top job, its most powerful leader in decades has been in near-constant motion, pressing flesh and signing deals in Beijing, Washington, Pyongyang and Moscow. His itinerary, which also included stops in New Delhi, Helsinki, Paris, London and several Southeast Asian capitals, reads less like a diplomatic calendar than a world tour – a...
Vietnam’s To Lam is a man in a hurry. Since claiming the nation’s top job, its most powerful leader in decades has been in near-constant motion, pressing flesh and signing deals in Beijing, Washington, Pyongyang and Moscow. His itinerary, which also included stops in New Delhi, Helsinki, Paris, London and several Southeast Asian capitals, reads less like a diplomatic calendar than a world tour – and analysts say that is precisely the point. “Where previous leaders practised a restrained,...
SlavkoSereda/iStock via Getty Images Crude oil futures surged this week as the prolonged closure of the Strait of Hormuz deepened concerns about declining global inventories. At the end of the two-day summit with Chinese leader Xi Jinping, President Trump said China agreed that the war in Iran should end and ship traffic through the strait should be free, but the lack of progress in peace negotiat...
SlavkoSereda/iStock via Getty Images Crude oil futures surged this week as the prolonged closure of the Strait of Hormuz deepened concerns about declining global inventories. At the end of the two-day summit with Chinese leader Xi Jinping, President Trump said China agreed that the war in Iran should end and ship traffic through the strait should be free, but the lack of progress in peace negotiations is making markets nervous. "The longer the Strait of Hormuz remains blocked, the more attention is focused on inventory levels," Commerzbank analysts said in a note. "If the U.S. Department of Energy's weekly inventory report shows another significant drawdown in U.S. oil stocks, this is likely to support oil prices." "The Strait of Hormuz remains effectively closed, prolonging disruptions to global energy supplies and keeping markets on edge," Soojin Kim from MUFG wrote. "The prolonged supply shock is also adding to inflation concerns globally as energy inventories continue to tighten." An underappreciated surplus of crude oil in storage tanks and aboard ships cushioned the global economy when the Persian Gulf closed two-and-a-half months ago, but the excess supply is now dwindling at a record pace , The Wall Street Journal reported, with oil executives and analysts predicting that a reckoning is set to upend the relative calm in energy markets. Global oil inventories plunged by 250M barrels during March and April, the International Energy Agency reported this week. Saudi Aramco CEO Amin Nasser said global stockpiles for refined products such as gasoline and jet fuel could reach "critically low levels" ahead of the summer driving and travel season. Analysts at J.P. Morgan estimated that if Hormuz remains blocked, inventories in a group of wealthy nations could plunge to "operational stress levels" next month and to system-straining "operational floor level" by September—although the bank said it does not expect stockpiles to actually reach those levels because history...
Getty Images By Jennifer Nash Manufacturing activity grew strongly in New York State, according to the Empire State Manufacturing May survey. The diffusion index for general business conditions rose 8.6 points to 19.6, its highest level in over four years. The latest reading was higher than the forecast of 7.3. Here are details from the report . ACTIVITY GROWS MARKEDLY Manufacturing activity in Ne...
Getty Images By Jennifer Nash Manufacturing activity grew strongly in New York State, according to the Empire State Manufacturing May survey. The diffusion index for general business conditions rose 8.6 points to 19.6, its highest level in over four years. The latest reading was higher than the forecast of 7.3. Here are details from the report . ACTIVITY GROWS MARKEDLY Manufacturing activity in New York State grew strongly, according to the May survey. The general business conditions index rose nine points to 19.6, its highest reading since April 2022. The new orders index rose three points to 22.7, its highest level in more than four years. The shipments index was little changed at 18.9, pointing to another solid increase in shipments. Unfilled orders increased for the fourth consecutive month. The delivery time index rose eight points to 20.4, a four-year high, and the supply availability index remained negative at -10.7, suggesting that delivery times were much longer and supply availability worsened. Inventories increased modestly. PACE OF PRICE INCREASES JUMP The index for number of employees was little changed at 8.3, and the average workweek index came in at 11.5, pointing to an ongoing increase in employment levels and hours worked. Both price indexes picked up to their highest levels since 2022. The prices paid index rose twelve points to 62.6, pointing to a sharp acceleration in input price increases for a second consecutive month, and the prices received index climbed ten points to 31.8. Background on the Empire State Manufacturing Survey The Empire State Manufacturing Index rates the relative level of general business conditions in New York State. A level above 0.0 indicates improving conditions, and below indicates worsening conditions. The reading is compiled from a survey of about 200 manufacturers in New York state. Below is a chart of the current conditions and its 3-month moving average, which helps clarify the trend for this extremely volatile ind...
Walmart helps headline the reporting docket for retail companies next week, who has outperformed many of the Magnificent Seven members in 2026. Can the retail titan's momentum continue?
Walmart helps headline the reporting docket for retail companies next week, who has outperformed many of the Magnificent Seven members in 2026. Can the retail titan's momentum continue?
Walmart helps headline the reporting docket for retail companies next week, who has outperformed many of the Magnificent Seven members in 2026. Can the retail titan's momentum continue?
Walmart helps headline the reporting docket for retail companies next week, who has outperformed many of the Magnificent Seven members in 2026. Can the retail titan's momentum continue?
Earnings Call Insights: Solana Company (HSDT) Q1 2026 Management View "I'm pleased to report on another quarter of significant progress as we continue to build out our multifaceted digital asset treasury platform and execute our Solana treasury strategy." (Executive Chairman Choon Wee Chee) "We welcome Madelene Gani as our Chief Operating Officer and Deputy Chief Financial Officer; and today annou...
Earnings Call Insights: Solana Company (HSDT) Q1 2026 Management View "I'm pleased to report on another quarter of significant progress as we continue to build out our multifaceted digital asset treasury platform and execute our Solana treasury strategy." (Executive Chairman Choon Wee Chee) "We welcome Madelene Gani as our Chief Operating Officer and Deputy Chief Financial Officer; and today announced that she will serve as our Chief Financial Officer, Treasurer and Secretary." (Executive Chairman Chee) "In late April, we closed the strategic capital raise as disclosed in our public filings." (Executive Chairman Chee) Chee added, "The incremental offering led by global institution investor, Mirae, we participation by HashKey marks an inflection point demonstrating both deep commitment from leading APAC institutional investors and the market premium for our Solana strategy." "Notwithstanding the volatility of Solara price, we remain resilient and continued our execution of generating consistent staking reward of 32,500 Solara tokens in the first quarter of 2026 compared to 34,000 Solara tokens in the fourth quarter 2025." (Executive Chairman Chee) "In early May, we announced a strategic partnership with Jito to advance yield optimization capabilities to our validator operation." (Executive Chairman Chee) "Our first quarter revenue was $3.6 million, consisting primarily of $3.4 million in staking revenue and $0.2 million in other revenue." (Chief Operating Officer and CFO Madelene Gani) Outlook Management did not provide quantitative revenue or EPS guidance in the prepared remarks or Q&A; Chee described near-term timing and business buildout, saying the company expects advisory contracts to contribute this year: "we are in the process of signing some contracts, which represent relatively significant revenues to us even for this year." (Executive Chairman Chee) On infrastructure timing, Chee said, "The nodes that we are building at the moment, we are starting with 3 no...
On May 15, 2026, Nicholas Investment Partners, LP disclosed a new position in Callaway Golf Company (NYSE:CALY) , acquiring 1,125,984 shares in an estimated $15.80 million trade based on quarterly average pricing. According to a Securities and Exchange Commission (SEC) filing dated May 15, 2026, Nicholas Investment Partners, LP reported a new position in Callaway Golf Company (NYSE:CALY) , purchas...
On May 15, 2026, Nicholas Investment Partners, LP disclosed a new position in Callaway Golf Company (NYSE:CALY) , acquiring 1,125,984 shares in an estimated $15.80 million trade based on quarterly average pricing. According to a Securities and Exchange Commission (SEC) filing dated May 15, 2026, Nicholas Investment Partners, LP reported a new position in Callaway Golf Company (NYSE:CALY) , purchasing 1,125,984 shares. The estimated transaction value is $15.80 million, calculated using the average unadjusted closing price for the first quarter. The position’s quarter-end value stood at $15.63 million, reflecting both the acquisition and changes in market price during the period. Callaway Golf Company operates in three business segments: Topgolf, Golf Equipment, and Active Lifestyle, combining product offerings with experiential entertainment. It sells its products through retailers, online retailers, and directly to consumers through its retail stores and websites, and operates in the consumer cyclical sector. Continue reading
Bloomberg’s Caroline Hyde and Ed Ludlow break down the latest from Beijing after President Trump says he discussed Nvidia's H200 chips with Xi Jinping. Plus, they speak with the CEO of Figma after its earnings results defy fears that AI would disrupt the design stack. And, Caroline's conversation with OpenAI CFO Sarah Friar, who says the startup may raise more capital after completing its recent f...
Bloomberg’s Caroline Hyde and Ed Ludlow break down the latest from Beijing after President Trump says he discussed Nvidia's H200 chips with Xi Jinping. Plus, they speak with the CEO of Figma after its earnings results defy fears that AI would disrupt the design stack. And, Caroline's conversation with OpenAI CFO Sarah Friar, who says the startup may raise more capital after completing its recent fundraising round. (Source: Bloomberg)