US President Donald Trump says the US will begin guiding some neutral ships trapped in the Persian Gulf out through the Strait of Hormuz starting Monday. Also on the show: Dubai International Airport reported a 66% drop in passenger numbers in March; OPEC+ agrees modest quota hike after UAE exit; Senegal’s Faye says party at risk as tensions simmer with Sonko; GameStop pitches $56 billion takeover...
US President Donald Trump says the US will begin guiding some neutral ships trapped in the Persian Gulf out through the Strait of Hormuz starting Monday. Also on the show: Dubai International Airport reported a 66% drop in passenger numbers in March; OPEC+ agrees modest quota hike after UAE exit; Senegal’s Faye says party at risk as tensions simmer with Sonko; GameStop pitches $56 billion takeover of eBay. Guests include: Deepak Mehra, Commercial Bank of Dubai Chief Economist, Paul Griffiths, Dubai Airports CEO. (Source: Bloomberg)
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, President Trump says the US will begin guiding trapped ships through the Strait of Hormuz, an...
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, President Trump says the US will begin guiding trapped ships through the Strait of Hormuz, and the US will respond with force is there is interference. US Central Command says it will provide military support, including the use of guided-missile destroyers and drones. China has ordered companies not to comply with US sanctions on five domestic refiners linked to the Iranian oil trade. And EU leaders are meeting after Donald Trump threatened to raise tariffs on EU-made vehicles to 25%, in an escalation of the tariff dispute. Today's guest: Elias Haddad, Brown Brothers Harriman, Vice President & Global Head of Markets Strategy. (Source: Bloomberg)
Iranian military says it will ‘respond harshly’ to any threat after Trump warns that interference with US operation in Hormuz will be ‘dealt with forcefully’ Trump says US navy will ‘guide’ trapped ships from strait of Hormuz amid ‘very positive’ talks with Iran The head of the Iranian military’s unified command has said US or any other foreign armed forces will be attacked if they enter the strai...
Iranian military says it will ‘respond harshly’ to any threat after Trump warns that interference with US operation in Hormuz will be ‘dealt with forcefully’ Trump says US navy will ‘guide’ trapped ships from strait of Hormuz amid ‘very positive’ talks with Iran The head of the Iranian military’s unified command has said US or any other foreign armed forces will be attacked if they enter the strait of Hormuz. The command warned US forces to stay out of the strait and said its forces would “respond harshly” to any threat, telling commercial ships and oil tankers to refrain from any movement in the absence of coordination with Iran’s military. We have repeatedly said the security of the Strait of Hormuz is in our hands and that the safe passage of vessels needs to be coordinated with the armed forces. We warn that any foreign armed forces, especially the aggressive US army, will be attacked if they intend to approach and enter the Strait of Hormuz.” Continue reading...
ttart/iStock via Getty Images By Warren Patterson , Head of Commodities Strategy | Ewa Manthey , Commodities Strategist Energy - Trump's Hormuz plan It was a volatile week in the oil market amid growing concerns about ongoing disruptions to oil flows from the Persian Gulf and the expiration of the ICE Brent Jun-26 contract on Thursday. The market is steadier at the start of the new trading week, d...
ttart/iStock via Getty Images By Warren Patterson , Head of Commodities Strategy | Ewa Manthey , Commodities Strategist Energy - Trump's Hormuz plan It was a volatile week in the oil market amid growing concerns about ongoing disruptions to oil flows from the Persian Gulf and the expiration of the ICE Brent Jun-26 contract on Thursday. The market is steadier at the start of the new trading week, despite continued noise around developments in the Persian Gulf. Iran said it received a response from the US on its latest proposal for a peace plan. There are, however, suggestions that President Trump has said the proposal was unacceptable. If so, the market is left in limbo. Trump also announced plans to guide commercial ships out of the Persian Gulf and through the Strait of Hormuz. The announcement saw a brief sell-off in oil prices, but the market has since pared these losses. The market does not seem convinced by the plan, which is called "Project Freedom." Reports indicate that, for now, the plan won’t involve the US Navy escorting vessels. Even if this allows vessels to leave the Persian Gulf, we’re likely to see little inbound traffic. This would only amount to temporary relief, as floating storage leaves the Persian Gulf. Over the weekend, OPEC+ announced a 188k b/d supply increase for June. However, this increase is unlikely to be realised, given that 55% of it is expected to come from Persian Gulf producers. This won’t happen amid ongoing disruptions in the Strait of Hormuz. It marks the first meeting following the UAE’s surprise exit from the group. The latest positioning data shows that speculators increased their net long in ICE Brent by 13,862 lots over the last reporting week to 383,205 lots as of last Tuesday. The move was dominated by fresh longs entering the market. Jet fuel inventories in Europe continue to tighten amid disruptions to refined product flows from the Middle East. The latest data from Insights Global shows that jet fuel inventories in the...
(Bloomberg) -- A rally in shares tied to artificial intelligence helped Asia’s stock benchmark wipe out losses sparked by the Iran war and climb back to an all-time high.Most Read from BloombergBeijing Tells China Firms to Ignore US Sanctions on RefinersSupertanker Appears to Have Crossed the Strait of HormuzWorld’s Largest Container Carrier Plans Route Avoiding HormuzFormer NYC Mayor Giuliani in ...
(Bloomberg) -- A rally in shares tied to artificial intelligence helped Asia’s stock benchmark wipe out losses sparked by the Iran war and climb back to an all-time high.Most Read from BloombergBeijing Tells China Firms to Ignore US Sanctions on RefinersSupertanker Appears to Have Crossed the Strait of HormuzWorld’s Largest Container Carrier Plans Route Avoiding HormuzFormer NYC Mayor Giuliani in Critical Condition, Trump SaysPhilippines Says Thousands Evacuated as Mayon Volcano EruptsThe MSCI A
MCCAIG/iStock via Getty Images Galaxy ( GLXY ) had Q1 results . I wanted to check their progress. They're still not profitable. They've been pivoting to data centers. Tokenization is a big topic too. But I'm not completely sold. I first wrote about GLXY in February. I had doubts about it. It's because crypto's bearishness was hurting them. They're a market maker. Bearishness hurts volume. Hope was...
MCCAIG/iStock via Getty Images Galaxy ( GLXY ) had Q1 results . I wanted to check their progress. They're still not profitable. They've been pivoting to data centers. Tokenization is a big topic too. But I'm not completely sold. I first wrote about GLXY in February. I had doubts about it. It's because crypto's bearishness was hurting them. They're a market maker. Bearishness hurts volume. Hope was in data centers and tokenization. But these seemed far off and not worth the bet. GLXY Full Price History (Seeking Alpha) Let's talk about tokenization specifically. Why do we like it? Why could it save the stock? Easy. It's capital-light. It's a growth segment. Christopher Ferraro, President & CIO, had a lot to say about it : What we're seeing on the tokenization -- I'll say, tokenization large, but really it's digital infrastructure to support bearer instrument tokenized assets, is a demand from the business side. What people would have considered to be the biggest looming concern for Galaxy is institutional business being bank competitors. So that's a concern. He added later that they can partner with big banks. That's probably wise. It's still hard, though. My guess is only a handful of players get to do this. I wrote about one , Securitize ( CEPT ). The same day, they announce a huge deal. Computershare hired them to tokenize. They're the largest transfer agent out there. So yeah, partnering can work, but think about that. One of the biggest accounts is taken. And of course Securitize got it. They have nigh every license under the sun. They were prepping years back. Tokenization is a PIVOT for Galaxy, mind you. It tried Bitcoin ( BTC-USD ) mining. That wasn't working too well. The balance sheet is treading water right now. There's about $3 billion of debt from their notes. Long-term debt (Q1 earnings release) They reported $2.6 billion in cash and stablecoins. This isn't a crisis. They also can't stand to have net losses forever. So how they win in tokenizing has to b...
Residents displaced by the deadly Tai Po fire will have their taxes waived for an additional year, the Hong Kong government has announced. In a statement on Monday, the government said homeowners and residents of Wang Fuk Court would be exempted from the final tax payable for the 2025-26 assessment year to “ease the financial burden on people affected by the fire”. The move follows a similar annou...
Residents displaced by the deadly Tai Po fire will have their taxes waived for an additional year, the Hong Kong government has announced. In a statement on Monday, the government said homeowners and residents of Wang Fuk Court would be exempted from the final tax payable for the 2025-26 assessment year to “ease the financial burden on people affected by the fire”. The move follows a similar announcement in December, when authorities waived the final tax for 2024-25 and the provisional tax for...
MarioGuti/iStock via Getty Images With hyperscaler earnings now out of the way, I think most of us can finally catch up on sleep. Yes, Hormuz is still blocked, oil prices are still in the triple digits, and the recent headlines from the Middle East (particularly the Maritime Freedom Construct) are still anything but comforting. To be clear, I'm not dismissing these risks. The market is. As I'm wri...
MarioGuti/iStock via Getty Images With hyperscaler earnings now out of the way, I think most of us can finally catch up on sleep. Yes, Hormuz is still blocked, oil prices are still in the triple digits, and the recent headlines from the Middle East (particularly the Maritime Freedom Construct) are still anything but comforting. To be clear, I'm not dismissing these risks. The market is. As I'm writing this piece, the SPY is hitting new highs, which is great news given my call options on this index with all sorts of short-, mid-, and long-term expiries (now you understand why I said I can catch up on sleep). On a more serious note, the market is still focused on Q1 earnings. That is why last Wednesday was so important, with the 4 hyperscalers reporting on the same day. As an investor, my focus is therefore on corporate earnings and less on what's going on in the Middle East. Over the last few weeks, since I deployed the cash I had been raising since January, I noticed myself checking the war headlines and the opinions of "expert economists" less and less, especially when the word "recession" comes up. In this piece, I look at the data that I believe is driving the rally, what I think comes next, and how I'm positioning my portfolio for the second half of the year. The Hormuz Disruption and Why Investors Are Looking Past It In a somewhat thought-provoking piece , I argued that there are early signs of decoupling between the S&P 500 and oil prices. By decoupling, I meant the inverse relationship between oil and the S&P 500 since the war began on February 28, up until a few weeks back. Well, since that article was published, that decoupling has been unfolding, and both oil and the SPY are up since mid-April. Seeking Alpha Why? In my view, it has to do with the fact that what's happening in the Middle East has limited spillover effects outside of a few pockets in transportation services or gasoline/diesel prices. The March core CPI print came in 10 bps cooler than consen...
Visit will be the first time a North Korean women’s football team has competed on southern soil since the 2014 Incheon Asian Games A North Korean women’s football club will travel to South Korea this month, marking the first visit by a northern sports delegation in nearly eight years, at a time of near-total estrangement between the two Koreas. Naegohyang Women’s FC, based in North Korea’s capital...
Visit will be the first time a North Korean women’s football team has competed on southern soil since the 2014 Incheon Asian Games A North Korean women’s football club will travel to South Korea this month, marking the first visit by a northern sports delegation in nearly eight years, at a time of near-total estrangement between the two Koreas. Naegohyang Women’s FC, based in North Korea’s capital Pyongyang, will face South Korea’s Suwon FC Women at Suwon sports complex, on 20 May for the semi-finals of the AFC Women’s Champions League. Continue reading...
A Hong Kong dancer left paralysed after being struck by a giant screen at a concert by popular Cantopop boy band Mirror testified for the first time in court on Monday, with his lawyer revealing he had received treatment in Beijing and Thailand after the accident. The District Court assessed the damages to be awarded to Mo Li Kai-yin after finding Studiodanz liable for compensation under the Emplo...
A Hong Kong dancer left paralysed after being struck by a giant screen at a concert by popular Cantopop boy band Mirror testified for the first time in court on Monday, with his lawyer revealing he had received treatment in Beijing and Thailand after the accident. The District Court assessed the damages to be awarded to Mo Li Kai-yin after finding Studiodanz liable for compensation under the Employees’ Compensation Ordinance following the accident at Hong Kong Coliseum on July 28, 2022. Li, 31,...
The airline sector is currently navigating a distinct performance gap as the slump in Spirit Airlines ( FLYYQ ) shares sparked by the company’s Saturday announcement of an immediate, orderly wind-down prompts a wider industry reassessment within the Quant rating framework. The ultralow-cost carrier officially ceased all operations at 3:00 a.m. ET on May 2 after failing to secure a federal bailout ...
The airline sector is currently navigating a distinct performance gap as the slump in Spirit Airlines ( FLYYQ ) shares sparked by the company’s Saturday announcement of an immediate, orderly wind-down prompts a wider industry reassessment within the Quant rating framework. The ultralow-cost carrier officially ceased all operations at 3:00 a.m. ET on May 2 after failing to secure a federal bailout or creditor support amid soaring jet fuel prices linked to the conflict in Iran. While budget carriers struggle, the Quant system remains selective, favoring players with resilient fundamentals. According to the latest data, only two industry leaders, Southwest Airlines ( LUV ) and LATAM Airlines ( LTM ) carry the green "Buy" Quant rating, while the majority of the sector, including major players like Delta Air Lines ( DAL ), United Airlines ( UAL ), and American Airlines ( AAL ), retain "Hold" ratings. Top-Rated Airlines (Buy): Southwest Airlines ( LUV ) - Buy (Quant Score: 3.95 /5) LATAM Airlines Group ( LTM ) - Buy (Quant Score: 3.72 /5) Other Airlines Ratings (Hold): Jet.AI ( JTAI ) - Hold (Quant Score: 3.41 /5) American Airlines Group ( AAL ) - Hold (Quant Score: 3.32 /5) easyJet ( ESYJY ) - Hold (Quant Score: 3.17 /5) Delta Air Lines ( DAL ) - Hold (Quant Score: 3.16 /5) United Airlines Holdings ( UAL ) - Hold (Quant Score: 3.12 /5) Air Canada ( ACDVF ) - Hold (Quant Score: 3.08 /5) Allegiant Travel ( ALGT ) - Hold (Quant Score: 3.07 /5) Air France-KLM SA ( AFLYY ) - Hold (Quant Score: 3.07 /5) JetBlue Airways ( JBLU ) - Hold (Quant Score: 3.02 /5) Deutsche Lufthansa AG ( DLAKY ) - Hold (Quant Score: 2.94 /5) International Consolidated Airlines Group ( ICAGY ) - Hold (Quant Score: 2.94 /5) Alaska Air Group ( ALK ) - Hold (Quant Score: 2.90 /5) Sun Country Airlines Holdings ( SNCY ) - Hold (Quant Score: 2.88 /5) More on airlines stock: Challenges Surge For Alaska Airlines Air Canada (AC:CA) Shareholder/Analyst Call Transcript Allegiant Travel Company (ALGT) Q1 2026 Ear...
Brazil assistant manager Davide Ancelotti sits down with BBC Sport's tactics expert Umir Irfan to discuss his coaching philosophy, inspirations and ideals.
Brazil assistant manager Davide Ancelotti sits down with BBC Sport's tactics expert Umir Irfan to discuss his coaching philosophy, inspirations and ideals.
Some Asian refiners offered to buy Upper Zakum crude from the United Arab Emirates at around $20 a barrel above official prices, as processors scramble for medium-sour grades after the Iran war disrupted supply. The cargoes were for collection by term buyers at the end of last month, said traders familiar with the matter. May-loading shipments have also attracted a premium to official selling pric...
Some Asian refiners offered to buy Upper Zakum crude from the United Arab Emirates at around $20 a barrel above official prices, as processors scramble for medium-sour grades after the Iran war disrupted supply. The cargoes were for collection by term buyers at the end of last month, said traders familiar with the matter. May-loading shipments have also attracted a premium to official selling prices, which were set significantly higher than April, they added, asking not to be named due to the sensitivity of the matter. Long-term customers of state producer Abu Dhabi National Oil Co. typically take their previously agreed volumes every month at official price levels, and don’t usually pay a premium. But with flows interrupted by the Middle East conflict, traders are being forced to reprice cargoes to reflect the disruptions. Adnoc didn’t immediately respond to a request for comment. Upper Zakum is a grade that can produce a higher amount of diesel and jet fuel when processed, and is typically loaded from a port at Zirku Island deep within the Persian Gulf. However, the volumes being marketed are from storage sites near Fujairah — outside of the Strait of Hormuz — which were placed there prior to the start of the war in late February, a person familiar said previously. Adnoc set April official selling prices for Upper Zakum, along with its Das and Umm Lulu grades, at parity to its flagship Murban variety, which was priced at $69.45 a barrel, according to a list seen by Bloomberg. May-loading crude was also set at parity to Murban, at $110.75 a barrel. Some Asian refiners have made bids for May-loading Upper Zakum at least $5 a barrel above the official selling price, traders said. Many Asian refiners are geared toward processing medium-sour crude, and now face having to pay more for alternatives or use different grades that don’t yield as much middle distillates such as diesel. The Upper Zakum cargoes are on tankers and can be collected via a ship-to-ship transfer off...
Can Bitcoin (CRYPTO: BTC) -- the world's most valuable cryptocurrency -- ever surpass Apple (NASDAQ: AAPL) -- the world's most valuable company -- in market cap? As might be expected, there's a prediction market for that. On Polymarket, there's currently a 7% chance of Bitcoin surpassing Apple in market cap before 2027. Here's what would likely need to happen for Bitcoin (currently valued at $1.5 ...
Can Bitcoin (CRYPTO: BTC) -- the world's most valuable cryptocurrency -- ever surpass Apple (NASDAQ: AAPL) -- the world's most valuable company -- in market cap? As might be expected, there's a prediction market for that. On Polymarket, there's currently a 7% chance of Bitcoin surpassing Apple in market cap before 2027. Here's what would likely need to happen for Bitcoin (currently valued at $1.5 trillion) to close the gap with Apple (currently valued at $4 trillion). What Bitcoin needs more than anything is an AI catalyst. In other words, there needs to be a use case for the Bitcoin blockchain that involves artificial intelligence. The good news for Bitcoin investors is that just such a use case already exists: micro-payments made by AI agents . Continue reading
NEW DELHI, INDIA - APRIL 27: People are seen protecting themselves from the sun on a hot summer day at Raisina Hill on April 27, 2026 in New Delhi, India. Delhi-NCR experienced intense heatwave conditions with maximum temperatures reaching between 42 degrees Celsius and 45 degrees Celsius across the region. (Photo by Raj K Raj/Hindustan Times via Getty Images) Hindustan Times | Hindustan Times | G...
NEW DELHI, INDIA - APRIL 27: People are seen protecting themselves from the sun on a hot summer day at Raisina Hill on April 27, 2026 in New Delhi, India. Delhi-NCR experienced intense heatwave conditions with maximum temperatures reaching between 42 degrees Celsius and 45 degrees Celsius across the region. (Photo by Raj K Raj/Hindustan Times via Getty Images) Hindustan Times | Hindustan Times | Getty Images India, the world's third-largest carbon dioxide emitter , is burning more coal as energy supply disruptions due to the Iran war and a nationwide heatwave have boosted demand for the dirty fuel. More than 70% of India's power is generated from coal-fired plants, and energy experts told CNBC that the share is expected to rise this year. In February, India announced that more than 52% of its total installed power generation capacity came from non-fossil fuel sources, with the majority coming from solar, hydropower and wind. Yet, coal-fired power plants, which account for nearly 43% of total generation capacity, remain the dominant source of energy . Coal-fired power generation in India in April increased to 164.9 average gigawatts, compared with 160.7 average gigawatts last year, according to data shared by S&P Global Energy. According to the data, coal-fired power generation rose sequentially by 5.6 average gigawatts, or 3.5%, in April. About 4% of India's installed power generation capacity is gas-fired and runs on liquified natural gas, of which about 60% is imported through the Strait of Hormuz. Higher coal burn The higher liquid natural gas prices have also made gas-based power generation economically unviable, said Girish Madan, director of corporate ratings at Fitch Ratings in Singapore. "So, coal-based power needs to share a higher burden in these peak summer months," he added. Electricity demand in India is rising as temperatures surge amid heatwaves. On April 27, data compiled by New Delhi-based air quality and temperature monitoring platform AQI showed t...