Hard decisions over a possible sale and future subsidies loom now full nationalisation is on the cards Full nationalisation of British Steel expected in king’s speech “One of the proudest things we have done in government,” said Keir Starmer in Monday’s big speech about the decision a year ago to recall parliament in order to take control of British Steel at Scunthorpe. It was an odd boast because last year’s action was merely an emergency exercise in saving the patient, as opposed to getting British Steel on its feet and out of the hospital. Taking control meant the Chinese owner, Jingye, could not turn off the two blast furnaces but meant the government was on the hook for operational losses, which will be £615m and counting by next month according to the National Audit Office (NAO). Continue reading...

Bill Pugliano/Getty Images News General Motors ( GM ) is letting go of as many as 600 white-collar employees amid an effort to transform its information technology department to “better position the company for the future,” Bloomberg reported Monday. According to sources, the automaker began informing impacted IT employees Monday morning. Although the company did not specify the number of layoffs, it confirmed that job cuts have been initiated. The reduction in its IT workforce is just the latest round of job cuts at the company as it deals with sluggish demand for its electric vehicles, a costly union contract, expenses associated with repatriating its manufacturing footprint, and higher raw material and supply chain costs that could trim GM’s operating profit by $2B due to a protracted close of the Strait of Hormuz. GM ( GM ) shares are down 4% on Monday. More on General Motors General Motors: Guidance Raise, 10% EBIT Margins, Cheap GM Q1 Earnings Blowout: Top Auto Stock EPS Growth Hits 33% General Motors Shows Resilience But Auto Industry Remains Complicated General Motors Financial Success Detroit automakers warn commodity spike could add $5B in costs

The poor breadth in the stock market is starting to worry investors. The S & P 500 rose to all-time highs on Monday, climbing above 7,400 as artificial intelligence continued to push the broader index farther above its March low; stocks are up more than 17% since falling to 6,316.91 on March 30. Memory stocks, especially, have been on a tear, with shares of Micron Technology more than doubling, up roughly 140%, over the same span. Take a look at the action beneath the surface, however, and the lack of participation outside of technology is concerning technical analysts. Friday, for example, was the first time over the last 30 years that the S & P 500 closed more than 7% above its 50-day moving average and not even 55% of its components were above their 50-day average, according to BTIG. The 50-DMA tracks near-term trends in a stock price. Usually, the percentage of companies in the S & P 500 that are above their 50-DMAs when the index is more than 7% above its own 50-DMA, has been 86%, on average, BTIG said. On Friday, the S & P 500 was higher by 7.7% on a headline basis, but just 52% of its members topped the same measure. More lows than highs Even more worrying, Friday was only the third time since 1990 that the S & P 500 made a new high when there were more new lows than highs, BTIG found. The two other times both came in December 1999, three months before the dot-com bubble peaked the following March. "Even if the tech/AI price action is justified, there is a difference between tech leading when most stocks are going up, and semis going parabolic when most non-tech stocks are moving sideways or lower," Jonathan Krinsky, chief market technician at BTIG, wrote on Sunday. "Perhaps the market is simply taking its time before we see the long-awaited broadening, but if we keep seeing 52-week lows expand, it's more likely we see tech 'catch-down' as opposed to the average stock 'catch-up,'" Krinsky added. Krinsky isn't the only one noting the market erosion. Jason Goep...

In this article GM Follow your favorite stocks CREATE FREE ACCOUNT The General Motors global headquarters in Detroit, Jan. 12, 2026. Jeff Kowalsky | Bloomberg | Getty Images DETROIT – General Motors is laying off hundreds of salaried employees in its information technology operations as the automaker reevaluates its workforce needs and aims to cut redundancies, CNBC has learned. The reductions began Monday and will largely impact about 500 to 600 employees in Austin, Texas, and Warren, Michigan, according to a person familiar with the plans. GM confirmed the cuts, which were first reported by Bloomberg News, but declined to give specific details about the actions. This is breaking news. Please check back for additional details. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Redesigned Thelio Major Elevates System76's All-AMD, Open-Source Linux Workstation: More Performance, Much Improved Thermals Review Phoronix

Riocool/iStock Editorial via Getty Images Writing about Oshkosh Corporation ( OSK ) in February, I thought this machinery manufacturer offered some at-risk upside from improving construction markets and opportunities in vocational markets. So far this year, the "at risk" part has been more relevant than the upside, as Oshkosh shares are down about 10% since that last article , lagging a mid-single-digit improvement in the broader industrial space and a double-digit move at Terex ( TEX ). A weak first quarter puts a lot of pressure on the company to deliver much stronger results in the second half of the year, and heavily back-end-weighted guidance is always a risk. Moreover, while there are areas of strength in non-residential construction (especially data centers, power, and electronics manufacturing), the market is tentative overall and sensitive to elevated rates and input costs. I’m still bullish on Oshkosh, but this is definitely more of a "show me" story for the remainder of 2026, and one where an improvement in the macro outlook (particularly regarding rates and costs) would be helpful. Weak Volumes Undermine Q1 Results Although Oshkosh did manage to beat top-line sell-side expectations in its first quarter , overall results were disappointing, with unexpected weakness in margins driving a meaningful EPS miss. Revenue rose slightly on a reported basis, beating by 1%, but down slightly on a constant currency basis. The Access business saw weaker volumes drive a 3% constant currency revenue contraction, but that was still enough to drive a roughly 14% beat versus the Street. Vocational sales declined 5%, hurt by weaker deliveries in the fire business, and missed by 12%. The Transport business grew 11% on strong deliveries for the USPS program, but results were still a bit weaker than expected. Gross margin declined almost four points to 13.5%, with weaker volumes and higher input costs driving much of the weakness. All segments saw weaker gross margins , with A...

Taobao users may soon shop by chatting with Alibaba's AI agent.

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Rigetti Computing (NASDAQ:RGTI) primarily generates revenue by building integrated quantum computers and the superconducting quantum processors that power them for cloud environments. While reporting no major adverse events during the period, it announced the sale of a quantum processing unit to a university and reported a negative net income margin of approximately 975% for the Q4 2025 quarter ended Dec. 31, 2025. IonQ (NYSE:IONQ) primarily earns revenue by developing general-purpose quantum computing systems and selling access to these machines through its own service and third-party cloud platforms. Continue reading

BYD aims for 5 million to 5.5 million global deliveries, supported by stronger China guidance and a 1.5 million overseas target.

【有線新聞】爆發漢坦病毒疫情的荷蘭郵輪洪迪厄斯號，全部乘客已下船回國，郵輪正駛向荷蘭鹿特丹。 最後一批乘客下船離開洪迪厄斯號，將轉乘專機回國。西班牙衛生部指，由於港口風浪較大，原定停泊西班牙特內里費島對海開域的郵輪，最終要靠岸停泊，確保乘客安全疏散。荷蘭派兩架專機接走最後6名乘客，郵輪接載餘下的25名船員及2名醫護人員，正駛離港口前往鹿特丹。 世衛表示目前共有7宗感染漢坦病毒病例，另有兩宗疑似個案。

专题：聚焦美股2026年第一季度财报 思科 财报前夕看涨情绪升温：期权交易员正在押注什么 本周财报季来临前，期权交易市场似乎相中了又一只热门科技股 —— 老牌网络设备巨头思科（Cisco） 。 该股历经多年转型，逐步向软件及云端 AI 技术靠拢，目前股价在周三财报公布前大幅冲高。 过去一个月，思科股价累计上涨 15%，看涨期权资金大举涌入。 截至周五中部时间午间，看涨期权（认购期权）成交量超 7.5 万张，而看跌期权（认沽期权）仅 1.6 万张。 在卖盘报价及以上价位成交的认购期权数量，是买盘报价成交的两倍多 ，说明交易员主动追高、大举布局上涨收益。 周一大盘行情疲弱的背景下，思科股价仍逆势走高。 市场交易集中在 平价、平价附近认购期权 ；周五全天股价持续走高，这类期权价格同步拉升。 其中 5 月 15 日到期、行权价 100 美元 的认购期权成交量最高；同日到期、行权价 95 美元的期权则成交权利金规模最大。 最值得关注的一点：在本轮火爆交易中， 思科期权隐含波动率 快速攀升。 周五隐含波动率触及 47，创一年多新高，已与半导体板块指数持平 —— 而半导体板块个股近期普遍走出抛物线式暴涨行情。 股价上涨、认购期权权利金同步走高，已成为 趋势热门股 的典型特征。这类股票深受散户交易者追捧，愿意高价押注股价短期内快速拉升。 近期典型案例就是老牌芯片大厂 英特尔 ：不到一年前市场还在讨论其是否会被行业边缘化，而自财报前出现看涨期权资金涌入后，股价至今已大涨 88%。 责任编辑：郭明煜

The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (NASDAQ:PDBC) sits in a strange spot for income investors. PDBC trades at $18 and paid a single annual distribution of $0.50862 per share in December 2025, a roughly 2.8% trailing yield. That payout is the byproduct of a commodity futures strategy, not a dividend in ... Commodity futures ETF PDBC surges 50% as oil reaches 98th percentile

Month was one of driest on record with rainfall 23% less than average, according to Met Office figures One of the driest Aprils on record for central and southern England has left river levels below normal, raising fears of drought in some areas over the summer. The latest UK hydrological survey – which tracks river and groundwater levels – suggests central and southern England and eastern Scotland will experience notably low river flows over the next three months, raising concerns about water shortages if dry weather persists. Continue reading...

格隆汇5月12日｜接近伊朗核谈判团队的消息人士称，一些西方媒体关于伊朗提出暂停核计划15年的说法完全是错误的。

Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it’s us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it’s contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting with us, check out the Odd Lots Discord , where you can hang out and talk with us and with other listeners 24/7. What Joe is thinking about today Today on the podcast we released an episode with Megan Greene , an external member of the Bank of England’s Monetary Policy Committee. More on that in a second, but having spent most of the last two weeks in London and Madrid, it got me thinking about how much more I used to know about Europe, and European central banking specifically. There was probably a time in my life when I could’ve rattled off the names of many euro-area central bank chiefs, as well as several committee members of both the ECB and the BoE. I can’t really do that anymore, and maybe part of the reason for that is the decreased salience of the euro crisis. But also, if I’m being honest, my ability to rattle off the names of American regional Fed presidents isn’t what it once was either. So it’s not just a Europe thing, it’s a central banker thing in general. Now of course, there’s another confounder in the above, which is that my career has changed several times in the last 15 or so years, so maybe that has something to do with it. I’m also older and maybe my memory is getting worse. But I don’t know, I’ve always been a markets and econ generalist, and I think my ability to recall specific facts is fairly solid. Now back to the Megan Greene episode, the big theme was basically central banking in a time of supply-side shocks. As a bunch of people observed in the wake of the pandemic, central banks work to regulate the economy largely by modulating the demand sid...

People evacuated from cruise ship to Arrowe Park hospital, Wirral, should enjoy some consolations, says man sent there during Covid pandemic For the MV Hondius passengers quarantined at Arrowe Park hospital on the Wirral, it is likely to be a period of some anxiety. But there will be some consolations as they await the all-clear to return to their normal lives, says a veteran of the Covid-19 quarantine at the same site – such as jigsaws, gourmet ready-meals, and even a concierge service. Continue reading...

Tyson Sinks, Walmart Falls After Trump Moves To Temporarily Lower Beef Import Tariffs Tyson Foods and Walmart shares moved lower around noon in New York, while major Brazilian meatpacker Minerva Foods moved higher on a Wall Street Journal report that says the White House will temporarily cut beef import tariffs According to the WSJ report, the plan would suspend the annual tariff-rate quota, which imposes higher duties once import limits are reached, allowing more foreign beef to flood the U.S. at lower tariff rates to suppress soaring prices. The move comes as the U.S. cattle herd has fallen to a 75-year low, driving the latest USDA national average beef prices at supermarkets near $7 per pound, squeezing meat processors, and pushing consumers into trade-downs to cheaper proteins such as chicken and pork. Walmart shares are down about 2.5% around noon. Tyson Foods shares dropped about 4.5%. Meanwhile, Brazilian meatpacker Minerva is up nearly 2%. Related beef coverage: "No Quick Fixes": Supply-Chain Deep Dive Shows Beef Prices To Remain High US Beef Cow Cycle Low Set To Deepen, Keeping Steak Prices High DoJ Opens Criminal Probe Into Meatpacking Cartel As Food Stocks Slide The move by the Trump administration to put a ceiling on ground beef and steak prices comes ahead of the midterm elections, as a race to make things more affordable in the wake of the energy price spike following the U.S.-Iran war becomes a central focus again. We suspect U.S. ranchers won’t be too happy about foreign meats set to flood the U.S. in even greater quantities. Tyler Durden Mon, 05/11/2026 - 12:35

Key PointsOklo has partnerships with major data center players and a backlog potentially worth about $11 billion.

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核心要点 美国国家经济委员会主任凯文・哈西特表示， 数据中没有任何迹象 表明人工智能正在导致人们失业。 在他发表此番言论之际， 亚马逊 、元宇宙（Meta）、 甲骨文 等一众科技企业已宣布 因 AI 转型启动裁员 。 支付巨头 Block 于今年 2 月裁员近半数，理由是依托人工智能、以更小团队承接更多工作，进行业务模式转型。 白宫国家经济委员会主任凯文・哈西特周一淡化了人工智能对就业的负面影响，他表示，这项新兴技术 目前并未造成任何人丢掉工作 。 哈西特在接受 CNBC《财经早间秀》采访时称： “现有数据完全没有迹象显示 AI 正在导致任何人失业。不过我们正在研究人工智能的未来发展及其对劳动力市场的影响，为此已成立专门的大型专项工作组。” 就在哈西特发表上述言论的同时，科技行业正掀起一波裁员浪潮。亚马逊、Meta、甲骨文等企业已多轮裁员，部分公司直言：利用 AI 实现工作自动化，可 缩减人员规模、提升生产效率 。 支付公司 Block 在 2 月宣布裁员近 4000 人，员工总数 几近减半 。 Block 首席财务官阿姆里塔・阿胡贾当时在公告中表示： “当前公司业务正处在加速发展阶段，我们选择调整运营模式。借助人工智能实现更多工作自动化，依靠 精简且高能力的小团队 ，就能实现更快发展。” 责任编辑：郭明煜

Source: Bloomberg, 0:00