Konoplytska Rising oil prices ( CO1:COM ), ( CL1:COM ) could indirectly affect consumer delinquencies, as slower economic growth may pressure unemployment upwards, thereby increasing the share of borrowers unable to service their debt, according to Goldman Sachs analysts. While the direct impact of fuel costs ( XB1:COM ) on loan defaults remains limited, Ben Shumway, Goldman Sachs analyst, warned ...
Konoplytska Rising oil prices ( CO1:COM ), ( CL1:COM ) could indirectly affect consumer delinquencies, as slower economic growth may pressure unemployment upwards, thereby increasing the share of borrowers unable to service their debt, according to Goldman Sachs analysts. While the direct impact of fuel costs ( XB1:COM ) on loan defaults remains limited, Ben Shumway, Goldman Sachs analyst, warned that risks are skewed to the downside should the Middle East conflict persist long enough to dampen growth in the second half of the year. WTI crude oil ( CL1:COM ) prices have surged nearly 50% since the initial strikes in Iran, cascading into a nationwide increase of nearly $1 per gallon of gasoline. Consumer sentiment has dropped 3.3 points month over month, bringing the University of Michigan index under its 2nd percentile value since the late 1970s. This reading is notably lower than levels seen during both the early 2000s tech bubble and the bottom of the Global Financial Crisis. University of Michigan Consumer Sentiment Survey Index (University of Michigan, Goldman Sachs Global Investment Research) Nonetheless, the “direct transmission mechanism for oil price increases to impact consumer delinquencies remains weak,” the analyst explained. Gasoline accounts for only 3.4% of the average U.S. household’s total expenditures, meaning even a 50% price increase sustained for six months would raise overall household spending by approximately 84 basis points—likely insufficient to trigger any meaningful rise in defaults. Moreover, examining sector-specific trends, Shumway found little correlation between oil prices ( CL1:COM ), ( CO1:COM ) and delinquency rates across subprime auto, unsecured consumer loans, and credit cards. “Credit card delinquency changes appear to have no discernible trend or connection to oil prices,” he said, noting that past apparent correlations in subprime auto lending during the run-up to the Global Financial Crisis were likely driven by other macro...
Active fixed-income ETFs are entering a new phase of growth, driven by investor demand, structural advantages and expanding product breadth. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst at Bloomberg Intelligence, speaks with Jeff Johnson, head of Fixed Income Product at Vanguard, about the rapid rise of active bond ETFs and why fixed income remains ...
Active fixed-income ETFs are entering a new phase of growth, driven by investor demand, structural advantages and expanding product breadth. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst at Bloomberg Intelligence, speaks with Jeff Johnson, head of Fixed Income Product at Vanguard, about the rapid rise of active bond ETFs and why fixed income remains a compelling space for active management. They discuss Vanguard’s expansion beyond its indexing root
European Inflation Jumps Most Since 2022 On Soaring Energy Prices Even As Core CPI Unexpectedly Shrinks In an early preview of the coming inflation spike, the euro area saw its steepest jump in inflation since 2022 as the Iran war pushed energy costs sharply higher, backing expectations that the ECB will have to raise interest rates. In March, European consumer prices rose 2.5% from a year ago in ...
European Inflation Jumps Most Since 2022 On Soaring Energy Prices Even As Core CPI Unexpectedly Shrinks In an early preview of the coming inflation spike, the euro area saw its steepest jump in inflation since 2022 as the Iran war pushed energy costs sharply higher, backing expectations that the ECB will have to raise interest rates. In March, European consumer prices rose 2.5% from a year ago in March - and up a whopping 1.9% from the previous month - to the highest since January 2025. The silver lining: the median estimate was for an even higher 2.6% print. Yet while headline inflation soared, demand destruction appears to have depressed other purchases, and core inflation, which excludes volatile items like food and energy, unexpectedly slowed to 2.3%, while the closely watched services gauge also eased, Eurostat said Tuesday. Some more details from Goldman: Euro area headline HICP inflation increased by 0.63pp to 2.52%yoy in March, below our tracking and consensus of 2.6%yoy. Core HICP inflation, excluding energy, food, alcohol and tobacco, went down 15bp to 2.26%yoy, broadly in line with our latest tracking estimate but below consensus expectations of 2.4%yoy. The breakdown by main expenditure categories showed services inflation declining to 3.23%yoy, with part of the decline likely driven by Olympics-induced tourism and hospitality-related components payback in Italy, while non-energy industrial goods inflation went down to 0.47%yoy, surprising our latest tracking estimate to the downside. Of the non-core components, energy inflation increased to 4.9%yoy, close to our latest tracking but lower than we initially expected, while food, alcohol and tobacco inflation decline to 2.35%yoy, weaker than we expected. Using our seasonal adjustment methodology, aimed to closely replicate the ECB's, and removing the Easter adjustment for the whole services basket, we estimate that seasonally adjusted sequential core inflation was 0.08%mom in March, down from 0.33%mom in t...
Pleasant/Rock Investment Firm Co-Founders Brian K. Hinds Jr. and Malcolm Jenkins discuss the integration of sports and real estate investing. they talk with Katie Greifeld and Romaine Bostick on "The Close." (Source: Bloomberg)
Pleasant/Rock Investment Firm Co-Founders Brian K. Hinds Jr. and Malcolm Jenkins discuss the integration of sports and real estate investing. they talk with Katie Greifeld and Romaine Bostick on "The Close." (Source: Bloomberg)
Former FBI agents are seeking class-action status for a lawsuit on behalf of all of the bureau’s employees fired since January of 2025 “on the basis of perceived political affiliation, without being afforded due process.” Three named plaintiffs filed the complaint in US District Court in Washington on Tuesday against the Federal Bureau of Investigation, Director Kash Patel , Attorney General Pam B...
Former FBI agents are seeking class-action status for a lawsuit on behalf of all of the bureau’s employees fired since January of 2025 “on the basis of perceived political affiliation, without being afforded due process.” Three named plaintiffs filed the complaint in US District Court in Washington on Tuesday against the Federal Bureau of Investigation, Director Kash Patel , Attorney General Pam Bondi , and the Justice Department . The complaint accuses the agency heads of using their power to root out perceived political enemies through mass firings. “Defendants’ mission — in their own words — is retribution,” the complaint states. The lawsuit describes the former agents as career, non—partisan employees with strong performance records who worked on high profile investigations at the FBI, including those involving President Donald Trump before his second term. The agents were fired, the lawsuit claims, in violation of their First and Fifth Amendment rights protecting political beliefs and guaranteeing due process. In addition to certification of the class action, the former agents are seeking reinstatement for all affected employees. There have been previous instances of FBI agents fired under the current administration suing to get their jobs back , but this complaint appears to be the first attempt by former agents to be recognized as a plaintiff class. Representatives for the FBI and Justice Department did not immediately respond to requests for comment on the complaint.
The new Optics Styles glasses will support an ‘unrestricted’ range of prescriptions. | Image: Meta While Meta has released several versions of its AI glasses over the last few years, today it announced it's released two new styles specifically geared toward those of us with less-than-perfect vision. Dubbed the Ray-Ban Meta Optics Styles, the new frames come in a rectangular "Blayzer" style and a c...
The new Optics Styles glasses will support an ‘unrestricted’ range of prescriptions. | Image: Meta While Meta has released several versions of its AI glasses over the last few years, today it announced it's released two new styles specifically geared toward those of us with less-than-perfect vision. Dubbed the Ray-Ban Meta Optics Styles, the new frames come in a rectangular "Blayzer" style and a circular "Scriber" version. Compared to the regular Ray-Bans, these also sport overextension hinges, interchangeable nose pads, and adjustable temple tips for opticians so users can better customize fit. While the overextension hinges were introduced with the Meta Ray-Ban Display , they were absent from the regular Ray-Ban lineup. The frames will … Read the full story at The Verge.
stockcam Snap Inc. ( SNAP ) jumped 8.5% on a report that activist investor Irenic Capital Management has taken a stake. Irenic, which has an economic interest of ~2.5% in Snap's Class A shares, wants the company to spin off or shutter its smart glasses business, Specs, according to a Bloomberg report on Tuesday, which cited a letter Irenic sent to Snap Chief Executive Officer and co-founder Evan S...
stockcam Snap Inc. ( SNAP ) jumped 8.5% on a report that activist investor Irenic Capital Management has taken a stake. Irenic, which has an economic interest of ~2.5% in Snap's Class A shares, wants the company to spin off or shutter its smart glasses business, Specs, according to a Bloomberg report on Tuesday, which cited a letter Irenic sent to Snap Chief Executive Officer and co-founder Evan Spiegel. The activist believes that moves Snap could make could boost its shares to more than $26 each. The activist fund also wants Snap ( SNAP ) to rationalize its cost structure by cutting jobs and changing its compensation structure for employees, according to the report. Irenic also is pushing Snap to concentrate on adopting artificial intelligence to improve ad monetization. Irenic also recommends a stock buyback with the shares so discounted. Snap shares have dropped more than 50% over the past year. Michael Lynton, chairperson of Snap’s board responded to the report on Irenic to Bloomberg, saying the company has “taken steps to improve performance, strengthen free cash flow, and offset dilution, and will continue to evaluate actions that drive long-term value for all stockholders.” More on Snap Snap: Moving Out Of The Mainstream Snap Inc.: AI-Driven Margin Expansion Sets The Stage For A Medium-Term Re-Rating Snap: MAU Growth Creates Upside Catalyst Australia weighs legal action against Meta, Snapchat, others over teen ban breaches Global recorded music revenue hit $31.7B in 2025 as paid streaming surged
Roundhill Magnificent Seven ETF (NYSEARCA:MAGS) is down nearly 16% year-to-date, a sharper pullback than the Nasdaq 100’s 8% decline over the same period. The fund offers equal-weighted exposure to all seven Magnificent 7 stocks, a structure that amplifies both the best and worst performers simultaneously. The ETF launched in April 2023 and has grown to ... MAGS ETF: Two Signals Will Determine If ...
Roundhill Magnificent Seven ETF (NYSEARCA:MAGS) is down nearly 16% year-to-date, a sharper pullback than the Nasdaq 100’s 8% decline over the same period. The fund offers equal-weighted exposure to all seven Magnificent 7 stocks, a structure that amplifies both the best and worst performers simultaneously. The ETF launched in April 2023 and has grown to ... MAGS ETF: Two Signals Will Determine If the 16% Slide Gets Worse in 2026
StockPlanets/E+ via Getty Images Investment overview I wrote about Viking Holdings ( VIK ) previously with an upgrade to a buy rating as the pricing trends looked a lot better than I thought, and bookings are already packed for 2026. In this update, the good news is that pricing is holding even as more 2026 inventory gets sold and capacity still grows, which makes the demand story look a lot more ...
StockPlanets/E+ via Getty Images Investment overview I wrote about Viking Holdings ( VIK ) previously with an upgrade to a buy rating as the pricing trends looked a lot better than I thought, and bookings are already packed for 2026. In this update, the good news is that pricing is holding even as more 2026 inventory gets sold and capacity still grows, which makes the demand story look a lot more durable. On top of that, the growth runway is getting longer, and the moat looks stronger than I thought, especially in River. Pricing trend and growth runway As a quick recap, the reason I turned bullish again was because pricing had come back. VIK saw higher yields at high occupancy, and the forward curve for 2026 was moving up even as capacity grew. The story has developed for the better. I believe VIK's equity story is no longer just pricing coming back but that pricing is holding steady and that it is converting into earnings faster than before. For reference, in my previous update, 2026 advance bookings were ~$4.9 billion, and advance bookings per PCD were ~$861, with ~70% of the added capacity sold. At that point, the bears would say that was an early read and that VIK would have to give some of that back later (cancellations, etc.). Clearly, that view doesn't hold any ground today. As of Feb. '26 , VIK said its core products were 86% sold for the 2026 season, with $5.96 billion of advance bookings, up 13% y/y, and advance bookings per PCD of $859, which is up 6% vs. the same point in 2025. Moreover, core product capacity for 2026 is also 7% higher than 2025. In other words, even more of VIK's inventory has been booked, and pricing is still ahead despite capacity still growing! I would say this effectively cements the 2026 outlook for VIK. There is another point to make here. I believe the growth runway is getting longer too. VIK had entered into option agreements for two additional ocean ships for delivery in 2034 and shipbuilding commitments for two additional expe...
As the case draws to a close we recount the claims and counter claims from the past 10 weeks in court 76 Jaw-dropping allegations, extraordinary U-turns, talk of plots, plenty of tears and an alleged meeting on a roundabout. For the past 10 weeks, lawyers in court 76 at the Royal Courts of Justice have delved into claims of alleged unlawful information-gathering at the Mail titles. Prince Harry, E...
As the case draws to a close we recount the claims and counter claims from the past 10 weeks in court 76 Jaw-dropping allegations, extraordinary U-turns, talk of plots, plenty of tears and an alleged meeting on a roundabout. For the past 10 weeks, lawyers in court 76 at the Royal Courts of Justice have delved into claims of alleged unlawful information-gathering at the Mail titles. Prince Harry, Elton John and his husband, David Furnish, the actors Sadie Frost and Elizabeth Hurley, the campaigner Doreen Lawrence and the former politician Simon Hughes have brought the case against Associated Newspapers Ltd (ANL), publisher of the Daily Mail and the Mail on Sunday. Allegations go way beyond phone hacking and include landline tapping and the bugging celebrity houses. Continue reading...
Artificial intelligence (AI) stocks have delivered astronomical growth to investors in recent years. They've climbed in the double, triple, and even quadruple digits as investors piled in, aiming to invest early and score a win as these companies developed their AI programs. Why has AI caused such excitement? The technology promises to reshape how many things are done -- from factory operations to...
Artificial intelligence (AI) stocks have delivered astronomical growth to investors in recent years. They've climbed in the double, triple, and even quadruple digits as investors piled in, aiming to invest early and score a win as these companies developed their AI programs. Why has AI caused such excitement? The technology promises to reshape how many things are done -- from factory operations to drug discovery -- and this is very positive for companies' top and bottom lines. But over the past few months, AI stocks and other growth players have seen their positive momentum slow or even screech to a halt. Even the biggest of names, such as AI chip giant Nvidia , have stumbled. Investors have grown more cautious about buying stocks. This is amid general uncertainty, such as worries about the economy, and as investors question whether AI expectations have gone too far. Still, evidence doesn't support the idea of an AI slowdown. Companies from chip designers to cloud providers all speak of soaring demand. And the economic backdrop, while it could weigh on growth stocks temporarily, doesn't change the long-term AI story. This means it's still a great idea to buy and hold onto such players. Continue reading
Taco Bell is asking U.S. customers to choose which international menu item will make its domestic debut through the company's first "Global Taco Vote." Starting March 26, U.S. Rewards Members can vote daily in the Taco Bell app to decide between the Kickin' Chicken Taco from Thailand and the Butter Chicken Taco from India. The winning item will be available at U.S. locations for a limited time lat...
Taco Bell is asking U.S. customers to choose which international menu item will make its domestic debut through the company's first "Global Taco Vote." Starting March 26, U.S. Rewards Members can vote daily in the Taco Bell app to decide between the Kickin' Chicken Taco from Thailand and the Butter Chicken Taco from India. The winning item will be available at U.S. locations for a limited time later this year. The Kickin' Chicken Taco from Thailand features crispy chicken strips, lettuce, a three-cheese blend, pico de gallo, and a spicy sauce wrapped in a flour tortilla. It originally launched in 2019 to coincide with the brand's entry into the Thai market. Meanwhile, the butter chicken taco from India consists of slow-roasted chicken in a tomato cream-based sauce topped with onions, cilantro, lettuce, and cheddar cheese in a fried chalupa shell. The menu item was added in 2023 as part of a menu highlighting Indian culinary heritage. "This vote is all about celebrating the creativity of Taco Bell menus around the world while bringing globally inspired flavors and innovations to U.S. fans," Amy Ellis Durini, chief marketing and strategy officer, Taco Bell International, said in the press release. "Both tacos have already built passionate followings in their home countries, and now we're giving U.S. fans the power to choose which one earns a spot on menus nationwide." The voting period runs through April 1, and the winning menu option will be announced on April 2. Taco Bell was spun off from PepsiCo ( PEP ) in 1997, along with KFC and Pizza Hut, to form a new company, Tricon Global Restaurants, which evolved into Yum! Brands ( YUM ). More on Yum! Brands Yum Brands: 'Me-Me-Me' Consumer Play Is Strong, Still Not For Me Yum! Brands: Stock Is Overbought, Valuation Is Fully Cooked Yum! Brands: The 'Taco Bell-ification' Of KFC (Rating Downgrade) Taco Bell turns up the heat with aggressive new menu expansion Pizza Hut to close some underperforming stores in the U.S. as part ...