China Reopens Fuel Export Spigot, Offering Relief To Asian Buyers Beijing is reversing its curbs on refined fuel exports after halting shipments in the opening days of the U.S.-Iran conflict. This move suggests that Chinese domestic inventories are now at comfortable levels, allowing state refiners to reopen the export spigot, even as much of Asia remains gripped by a fuel shock caused by disrupte...
China Reopens Fuel Export Spigot, Offering Relief To Asian Buyers Beijing is reversing its curbs on refined fuel exports after halting shipments in the opening days of the U.S.-Iran conflict. This move suggests that Chinese domestic inventories are now at comfortable levels, allowing state refiners to reopen the export spigot, even as much of Asia remains gripped by a fuel shock caused by disrupted Gulf energy flows through the Hormuz chokepoint. There was chatter earlier this week that China's state-owned refiners were applying for government permits to resume fuel exports in May. These include China Petrochemical (Sinopec Group) and China National Petroleum Corporation. By late in the week, Bloomberg reported that state-owned refiners had received government approval to export 500,000 tons of fuel next month. People familiar with the upcoming shipments said the one-off quota would allow gasoline, diesel, and jet fuel to be sent to neighboring Asian countries, providing relief amid a worsening fuel crunch. They said these shipments will be loaded onto tankers and are likely destined for Vietnam, Laos, and other nearby nations. China's U-turn on export curbs comes weeks after the International Monetary Fund, World Bank, and International Energy Agency urged countries to avoid panic hoarding of energy supplies, as JPMorgan analysts warned that Asia would face the most immediate impact from the Gulf energy shock. Tyler Durden Fri, 05/01/2026 - 03:30
Anna Moneymaker Meta ( META ) CEO Mark Zuckerberg said the company's planned job cuts were due to increased capital spending for artificial intelligence and did not rule out further layoffs, Reuters reported. "We basically have two major cost centers in the company: compute infrastructure and people-oriented things," he said during a town hall on Thursday. "If we're investing more in one area to...
Anna Moneymaker Meta ( META ) CEO Mark Zuckerberg said the company's planned job cuts were due to increased capital spending for artificial intelligence and did not rule out further layoffs, Reuters reported. "We basically have two major cost centers in the company: compute infrastructure and people-oriented things," he said during a town hall on Thursday. "If we're investing more in one area to serve our community, then that means we have less capital to allocate to the other. So that means we do need to take down the size of the company somewhat." But Zuckerberg clarified that the layoffs were not related to Meta's ( META ) reorganization of teams around a new AI-native structure and efforts to develop AI agents that can perform tasks autonomously. Meta's ( META ) AI-oriented reorganization and a new initiative to track employees' mouse movements, clicks and keystrokes to train AI agents have faced criticism from staff. "Getting everyone internally to use AI tools and getting to do the work more efficiently is not the thing that's driving layoffs," Zuckerberg told employees. But "we'll see how all this stuff trends," he said, adding that the company would "be able to share more soon." The town hall was the first time Zuckerberg addressed staff directly about the job cuts. Meta ( META ) is set to lay off about 10% of its workforce next month, with additional cuts planned for the second half of the year. "I wish that I can tell you that I have a crystal ball plan for the next, like, three years of how all this stuff is going to play out. I don't. I don't think anyone does," the CEO told employees at the town hall . More on Meta Meta Q1 Review: Investors Hate Capex When They Should Love It Meta: I'm Waiting For $500 Per Share To Buy More Meta: I'm Pounding The Table On This Misunderstood Opportunity Tim Cook, Zuckerberg among rumored bidders for Seattle Seahawks Meta ramps up AI spending, but questions over ROI weigh - analysts
Broadridge Financial Solutions (NYSE:BR) reported what executives described as strong fiscal third-quarter 2026 results and raised full-year guidance for recurring revenue and adjusted earnings per share, citing favorable market conditions, continued investor participation growth, and contributions
Broadridge Financial Solutions (NYSE:BR) reported what executives described as strong fiscal third-quarter 2026 results and raised full-year guidance for recurring revenue and adjusted earnings per share, citing favorable market conditions, continued investor participation growth, and contributions
Republican lawmakers say they will continue to defer to President Donald Trump, for now, during the fragile ceasefire with Iran. (Image credit: Cliff Owen)
Republican lawmakers say they will continue to defer to President Donald Trump, for now, during the fragile ceasefire with Iran. (Image credit: Cliff Owen)
T-Mobile is leveraging its wireless dominance to fund a strategic, capital-efficient expansion into the broadband market, directly challenging cable incumbents.
T-Mobile is leveraging its wireless dominance to fund a strategic, capital-efficient expansion into the broadband market, directly challenging cable incumbents.
DenisTangneyJr/E+ via Getty Images Introduction and Thesis The two rules of investing , according to Warren Buffett, are "Rule number one, never lose money. Rule number two: never forget rule number one". In other words, the investor should focus on managing risk by protecting his downside as opposed to pursuing aggressive upside and risking permanent loss of capital. The most surefire way of acco...
DenisTangneyJr/E+ via Getty Images Introduction and Thesis The two rules of investing , according to Warren Buffett, are "Rule number one, never lose money. Rule number two: never forget rule number one". In other words, the investor should focus on managing risk by protecting his downside as opposed to pursuing aggressive upside and risking permanent loss of capital. The most surefire way of accomplishing this is by purchasing a company's shares only for a price far below their intrinsic value, particularly if this intrinsic value is derived from a conservative assessment of tangible balance sheet assets. AMREP Corporation may be a promising candidate for this approach. The company's shares already have potential for substantial upside, as has previously been opined by fellow Seeking Alpha contributors . The point of this article, however, is to approach the company's valuation from a different angle and focus exclusively on downside protection. We are aided in this exercise by the fact that the book value of AXR's assets may already be understated, meaning an imbedded margin of safety may already be present in our valuation analysis. How AXR Makes Money AMREP Corporation ( AXR ) essentially operates as a land bank. Between 1961 and 1971, AXR acquired approximately 90,000 acres of undeveloped land in Sandoval County, New Mexico, for about $200 an acre. Since then, the company has gradually been developing this land and selling it to homebuilders and property developers in Sandoval County. As of the most recent earnings report in 2026 , AXR has about 16,500 acres remaining from this initial chunk. The company profits from the appreciation of the land value since its initial purchase, as well as the value that is added to the land through property development activities and, more recently, homebuilding. Revenue breakdown per annum over the past five years can be seen below: Year Land sale revenues (thousands) Home sale revenues (thousands) 2020 $15,976 NA 2021 $25,17...
The Trump administration is arguing that the war in Iran has already ended because of the ceasefire that began in early April, an interpretation that would allow the White House to avoid the need to seek congressional approval. The statement furthers an argument laid out by Defence Secretary Pete Hegseth during testimony in the Senate earlier Thursday, when he said the ceasefire effectively paused...
The Trump administration is arguing that the war in Iran has already ended because of the ceasefire that began in early April, an interpretation that would allow the White House to avoid the need to seek congressional approval. The statement furthers an argument laid out by Defence Secretary Pete Hegseth during testimony in the Senate earlier Thursday, when he said the ceasefire effectively paused the war. Under that rationale, the administration has not yet met the requirement mandated by a...
Earnings Call Insights: Ingram Micro Holding Corporation (INGM) Q1 2026 Management View “We delivered another strong first quarter in which we grew net revenue nearly 14%... and delivered non-GAAP earnings per share of $0.75.” (CEO & Director Paul Bay) “Advanced Solutions and Cloud led to growth, driven in part by large GPU and AI infrastructure deals we captured in North America and Asia Pacific ...
Earnings Call Insights: Ingram Micro Holding Corporation (INGM) Q1 2026 Management View “We delivered another strong first quarter in which we grew net revenue nearly 14%... and delivered non-GAAP earnings per share of $0.75.” (CEO & Director Paul Bay) “Advanced Solutions and Cloud led to growth, driven in part by large GPU and AI infrastructure deals we captured in North America and Asia Pacific in the back half of the quarter.” (CEO & Director Bay) “Xvantage is not a tool or a marketplace. It is the operating system for B2B.” (CEO & Director Bay) “In the first quarter alone, it processed approximately 230,000 e-mails into orders, up 78% year-over-year, enabling more than $1 billion in sales with significantly lower manual touch.” (CEO & Director Bay) “Net sales of $13.96 billion were up 13.7% year-over-year... and up 10% on an FX-neutral basis.” (Executive VP & CFO Michael Zilis) “Gross margin came at 6.63% of net sales, down 12 basis points year-over-year.” (Executive VP & CFO Zilis) Outlook “We are guiding net sales of $13.6 billion to $14.0 billion.” (Executive VP & CFO Zilis) “We expect non-GAAP diluted EPS to be in the range of $0.68 to $0.78 per diluted share.” (Executive VP & CFO Zilis) “While we are not necessarily projecting outsized GPU and AI infrastructure projects in our guide, we will continue to participate in these projects.” (Executive VP & CFO Zilis) “Included in this guide is a potential negative impact of $0.01 to $0.03 per diluted share... from the volatile situation in the Middle East.” (Executive VP & CFO Zilis) Versus the prior quarter’s outlook framing, management’s Q2 guide explicitly baked in Middle East risk and reiterated that memory supply constraints were assumed to have “a similar impact in Q2” as in Q1. (Executive VP & CFO Zilis) Financial Results “Gross profit came in at $926 million, up 12% year-over-year.” (Executive VP & CFO Zilis) “Q1 operating expenses were $703 million or 5.04% of net sales compared to 5.11% in the same peri...
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. A healthy appetite for both saving and borrowing pushed NatWest ’s first-quarter profit up to £2 billion . Customer deposits increased by £3.1 billion, indicating a resilient Brit keen to save cash despite dealing with higher taxes and economic uncertainty ramping up with the ...
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. A healthy appetite for both saving and borrowing pushed NatWest ’s first-quarter profit up to £2 billion . Customer deposits increased by £3.1 billion, indicating a resilient Brit keen to save cash despite dealing with higher taxes and economic uncertainty ramping up with the Iran war. Chief executive Paul Thwaite said it benefited from “healthy customer activity.” It’s the latest UK lender to report since the conflict began, with each warning that inflation risks loom which would heighten pressure on the consumer. Loans from NatWest, one of the country’s largest mortgage lenders, increased by £7.2 billion and it’s expecting a bumper year. Still, shares fell 4% in early trading as some analysts said the numbers and guidance just aren’t enough. What’s your take? Ping me on X , LinkedIn or drop me an email at lmoon13@bloomberg.net. Oh, and do subscribe to Bloomberg.com for unlimited access to trusted business journalism on the UK, and beyond. What We’re Watching Chiming with that, house prices unexpectedly rose for the fourth straight month, according to Nationwide. It suggests buyers are unfazed by a jump in borrowing costs since the Iran war started. More from my colleague Morwenna below. The Bank of England may have kept rates on hold yesterday but it’s edging in a more hawkish direction of hikes, in tandem with the ECB. That could happen as soon as June to stave off the threat of renewed inflation. King Charles’ visit to the US has resulted in a major trade concession : Donald Trump has said he’ll remove some Scotch whisky tariffs . Those have been a major flashpoint between the US and UK, so it marks a key win for Britain particularly as it tries to thaw an icy special relationship. While Keir Starmer is likely pleased his gamble of sending the apolitical monarch into the politically charged White House has paid off, but that thawing may not ...
O2O Creative/E+ via Getty Images The US basked in excess sunshine in the March quarter of 2026, with solar insolation levels exceeding the 20-year average by 5.8%. Average wind speeds for the quarter were near normal, with a negative deviation from the norm of just 0.2%. This is despite a breezy March, as countrywide winds were 6% above average. North of the US border, a cloudy March led to quarte...
O2O Creative/E+ via Getty Images The US basked in excess sunshine in the March quarter of 2026, with solar insolation levels exceeding the 20-year average by 5.8%. Average wind speeds for the quarter were near normal, with a negative deviation from the norm of just 0.2%. This is despite a breezy March, as countrywide winds were 6% above average. North of the US border, a cloudy March led to quarterly radiation levels 2.7% below normal in Canada, while winds were 2.2% higher than the 20-year average. The southern and central US regions, from Texas and Louisiana up through Missouri and Illinois, experienced radiation surpluses ranging from 11% to 13% above normal in the March quarter. Seven states experienced double-digit positive deviations from the 20-year average, with the installed photovoltaic capacity of these states surpassing 48 gigawatts. Just six of the 49 states with operating grid-scale solar capacity in the US experienced below-normal insolation from January to March. Within the contiguous US, the largest negative quarterly deficit was 3.9% in New York — home to the largest solar fleet — that had below-average sunshine in the first quarter at 3.4 GW. March was especially cloudy in New York, with a deviation of 11.4% below the norm. Conditions for wind generation in the US were less optimal, though still close to average across the country, with 22 of the 44 states reporting operating grid-scale wind capacity experiencing above-average wind speeds in the first quarter of 2026. Wyoming and Montana — with a combined 7 GW of wind capacity — had the largest positive departure from the norm with March-quarter winds 8.5% and 7.3% higher than normal, respectively. Conversely, the Western US took in sub-par breezes from January through March. Arizona, California, Oregon and Washington all experienced quarterly deviations 10.2%-11.8% lower than the 20-year average. Oregon and Washington maintained double-digit negative deviations from the norm in the first quarter,...
SPS Commerce Inc (SPSC) reports a 6% revenue increase and robust AI-driven efficiencies, while navigating headwinds in its Amazon revenue recovery business.
SPS Commerce Inc (SPSC) reports a 6% revenue increase and robust AI-driven efficiencies, while navigating headwinds in its Amazon revenue recovery business.