China is quietly pulling back where it matters most: money. Regulators have told the country’s biggest banks to halt new lending to five refiners hit by fresh US sanctions over Iranian oil links, people familiar with the matter said, signaling a cautious financial retreat even as Beijing publicly pushes back against Washington. The directive stops short of a full clampdown (existing loans stay int...
China is quietly pulling back where it matters most: money. Regulators have told the country’s biggest banks to halt new lending to five refiners hit by fresh US sanctions over Iranian oil links, people familiar with the matter said, signaling a cautious financial retreat even as Beijing publicly pushes back against Washington. The directive stops short of a full clampdown (existing loans stay intact), but it draws a clear line around new exposure. The timing sharpens the stakes. President Donald Trump is set to press Xi Jinping on China’s continued purchases of Iranian oil at their upcoming Beijing meeting, even as US officials warn banks of secondary sanctions risk tied to such trade. Beijing, once again, is walking a tightrope as it projects defiance, invoking its “blocking” rules to counter US measures while simultaneously shielding its banking giants from threats that could jeopardize dollar access. Meanwhile, Washington may be exploring an off-ramp. The US and Iran are circling a tentative framework that could reopen the Strait of Hormuz and ease port restrictions, a person familiar with the talks said, as Trump looks to cool a conflict that has driven up energy prices and dented his political standing. Nothing is agreed yet, but the contrast is striking as threat of sanctions tighten and diplomacy flickers. Keep track of the twists and turns — and the global fallout — of the war with Iran here . What You Need to Know Today The crossfire is hitting Wall Street. JPMorgan and Citigroup are being sued in China after freezing tens of millions of dollars in payments tied to a firm later sanctioned by the US, spotlighting the growing legal and financial minefield for global banks. HY Energy claims the lenders blocked $40 million in transfers, some before sanctions even hit, and routed funds to US authorities, exposing them to liability under Chinese law. The case underscores a widening squeeze as banks are increasingly forced to choose which side to risk offending. ...
The flags of the European Union fly in front of the European Parliament. Philipp von Ditfurth | dpa | Picture Alliance | Getty Images The European Union is considering rules that would restrict its member governments' use of U.S. cloud providers to handle sensitive data, sources familiar with the talks told CNBC. The European Commission — the EU's executive branch — is expected to present its "Tec...
The flags of the European Union fly in front of the European Parliament. Philipp von Ditfurth | dpa | Picture Alliance | Getty Images The European Union is considering rules that would restrict its member governments' use of U.S. cloud providers to handle sensitive data, sources familiar with the talks told CNBC. The European Commission — the EU's executive branch — is expected to present its "Tech Sovereignty Package" on May 27, which will include a range of measures aimed at bolstering the bloc's strategic autonomy in key digital areas. As part of preparations for that package, discussions are taking place within the Commission around limiting the exposure of sensitive public-sector data to cloud platforms provided by companies outside of the EU, two Commission officials, who asked to remain anonymous as they weren't authorized to discuss private talks, told CNBC. As tensions with U.S. President Donald Trump's administration have intensified, there have been calls for Europe to diversify away from U.S. cloud providers, which currently dominate the European market , and towards homegrown providers for its most critical workloads. "The core idea is defining sectors that have to be hosted on European cloud capacity," one of the officials said. They added that companies providing cloud solutions from third countries, including the U.S., could be impacted. Proposals would not prohibit overseas companies' cloud platforms from government contracts entirely, but limit their use in processing sensitive data at public sector organizations, depending on the level of sensitivity, they added. The officials said that talks are ongoing and yet to be finalized. "U.S. cloud providers could face restrictions in certain sensitive and strategic sectors" within EU member states' public bodies as a result of the proposals, one official said. The officials told CNBC there are discussions around proposing that financial, judicial and health data processed by governments and public-sector...
da-kuk/E+ via Getty Images Fastly ( FSLY ) shares plunged over 21% in premarket trading Thursday despite the cloud computing company reporting better-than-expected first-quarter results and raising its full-year outlook, as investors appeared unconvinced after the stock’s massive rally this year. Fastly posted record first-quarter revenue of $173M, up 20% year-over-year and ahead of Wall Street es...
da-kuk/E+ via Getty Images Fastly ( FSLY ) shares plunged over 21% in premarket trading Thursday despite the cloud computing company reporting better-than-expected first-quarter results and raising its full-year outlook, as investors appeared unconvinced after the stock’s massive rally this year. Fastly posted record first-quarter revenue of $173M, up 20% year-over-year and ahead of Wall Street estimates by $1.24M. Network Services revenue rose 11% to $126.2M, while Security revenue surged 47% to $38.8M. Other revenue climbed 67% year-over-year to $8M. Remaining performance obligations jumped 63% to $369M from $226M in the year-ago quarter. Fastly's top ten customers accounted for 34% of revenue in the first quarter, compared to 33% in the first quarter of 2025. The company also delivered record profitability metrics, with gross margin improving to 62.5% from 53.2% a year earlier, while non-GAAP gross margin expanded to 65.1% from 57.3%. Adjusted net income totaled $22.9M, compared with a adjusted net loss of $6.6M in the first quarter of 2025. Non-GAAP earnings came in at $0.13 per diluted share, beating analyst estimates by $0.04 , versus a loss of $0.05 per share a year ago. Following the strong quarter, Fastly raised its 2026 revenue forecast to a range of $710M to $720M from a prior outlook of $700M to $720M. The company also increased its adjusted EPS guidance to $0.27-$0.33 from $0.23-$0.29 previously. Wall Street currently expects full-year revenue of $712.08M and EPS of $0.28. Despite the upbeat results and guidance hike, traders appeared focused on valuation and elevated expectations after the stock’s explosive rally. Fastly shares had gained more than 210% year-to-date heading into the earnings report, raising the bar for further upside. More on Fastly Fastly, Inc. (FSLY) Q1 2026 Earnings Call Transcript Fastly, Inc. 2026 Q1 - Results - Earnings Call Presentation Fastly Is Finally Earning Its Premium Biggest stock movers Thursday: SNAP, FSLY, and more Fas...
Aston Villa midfielder and former England international Lucy Staniforth did not hesitate when she made the decision to retire from football at the end of the season.
Aston Villa midfielder and former England international Lucy Staniforth did not hesitate when she made the decision to retire from football at the end of the season.
Six Flags press release ( FUN ): Q1 Revenue of $225.63M (+11.7% Y/Y) beats by $17.67M . Attendance increased 4% to 2.9 million visits. Per capita spending (1) increased 6% to $69.26, reflecting effective ticket pricing initiatives, improved ticket mix, and higher guest spending on food and beverage. Adjusted EBITDA (2) loss for the quarter was $123 million, a $48 million improvement from $171 mill...
Six Flags press release ( FUN ): Q1 Revenue of $225.63M (+11.7% Y/Y) beats by $17.67M . Attendance increased 4% to 2.9 million visits. Per capita spending (1) increased 6% to $69.26, reflecting effective ticket pricing initiatives, improved ticket mix, and higher guest spending on food and beverage. Adjusted EBITDA (2) loss for the quarter was $123 million, a $48 million improvement from $171 million. Operating days totaled 369, a decrease from 393 operating days. More on Six Flags Six Flags: Activists Don't Want To Wait Six Flags: Starting Its Cedar-Fication, But Debt Knocks The Door Six Flags Entertainment Corporation (FUN) Q4 2025 Earnings Call Transcript The Iran conflict puts Six Flags' Saudi Arabia vision on a roller coaster Jana Partners urges Six Flags Entertainment to sell -- report
Despite heightened volatility, it's shaping up to be another phenomenal year for Wall Street. This week, we've watched the iconic S&P 500 (SNPINDEX: ^GSPC) and growth-driven Nasdaq Composite (NASDAQINDEX: ^IXIC) trek to record highs, with the ageless Dow Jones Industrial Average (DJINDICES: ^DJI) eclipsing 50,000 earlier this year. While it would appear that nothing can stop this artificial intell...
Despite heightened volatility, it's shaping up to be another phenomenal year for Wall Street. This week, we've watched the iconic S&P 500 (SNPINDEX: ^GSPC) and growth-driven Nasdaq Composite (NASDAQINDEX: ^IXIC) trek to record highs, with the ageless Dow Jones Industrial Average (DJINDICES: ^DJI) eclipsing 50,000 earlier this year. While it would appear that nothing can stop this artificial intelligence (AI) -driven rally, Citadel's Founder and CEO, Ken Griffin, who oversees one of the most profitable hedge funds on the planet (Citadel Advisors), just offered a sobering take for investors . Image source: Getty Images. Continue reading
Canadian Natural Resources press release ( CNQ ): Q1 Non-GAAP EPS of C$1.17. Generated adjusted funds flow of approximately C$4.4 billion. Quarterly production averaged approximately 1,643,000 BOE/d in Q1/26, which included total quarterly liquids production of approximately 1,198,000 bbl/d, 66% of which was SCO, light crude oil and NGLs. We achieved record quarterly North American E&P production ...
Canadian Natural Resources press release ( CNQ ): Q1 Non-GAAP EPS of C$1.17. Generated adjusted funds flow of approximately C$4.4 billion. Quarterly production averaged approximately 1,643,000 BOE/d in Q1/26, which included total quarterly liquids production of approximately 1,198,000 bbl/d, 66% of which was SCO, light crude oil and NGLs. We achieved record quarterly North American E&P production for our conventional crude oil and natural gas business of approximately 773,000 BOE/d, consisting of record quarterly liquids production of approximately 329,000 bbl/d and record quarterly natural gas production of 2,668 MMcf/d. Total Company production in Q1/26 delivered year-over-year growth of 4% or approximately 61,000 BOE/d from Q1/25 levels. "We remain focused on executing our prudent and capital efficient 2026 capital program as outlined in our updated 2026 guidance previously released in March 2026." More on Canadian Natural Resources Limited Canadian Natural Resources: Earnings Set To Reveal Massive Rewards Canadian Natural: The Gold Standard Of Canadian Energy Canadian Natural Resources: Iran Rally Looks Like A Trap (Rating Downgrade) Canadian Natural Resources Non-GAAP EPS of C$0.82 beats by C$0.12; updates FY26 outlook Canadian Natural Resources Q4 2025 Earnings Preview