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Exelixis outlines December PDUFA timeline for ZANZA CRC filing while adding $750M buyback authorization (NASDAQ:EXEL)

Earnings Call Insights: Exelixis (EXEL) Q1 2026

Management View

  • Michael Morrissey (CEO, President & Director) said the company’s strategy is “to build a multi-franchise business in solid tumor oncology focused on GU and GI histologies,” anchored by cabozantinib and “the potential breadth of the zanzalitinib opportunity,” and added that “CABOMETYX

Seeking Alpha’s Disclaimer: This article was automatically generated by an AI tool based on content available on the Seeking Alpha website, and has not been curated or reviewed by humans. Due to inherent limitations in using AI-based tools, the accuracy, completeness, or timeliness of such articles cannot be guaranteed. This article is intended for informational purposes only. Seeking Alpha does not take account of your objectives or your financial situation and does not offer any personalized investment advice. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank.

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Live Nation outlines venue strategy targeting up to 30% premium capacity, as it highlights Q3-weighted 2026 growth (NYSE:LYV)

Earnings Call Insights: Live Nation Entertainment (LYV) Q1 2026

Management View

  • Michael Rapino said demand and cancellations were tracking normally, stating, “We always have a few cancellations” and “We tend to have 1% to 2% cancellation rate historically” (President, CEO & Director Michael Rapino).

Seeking Alpha’s Disclaimer: This article was automatically generated by an AI tool based on content available on the Seeking Alpha website, and has not been curated or reviewed by humans. Due to inherent limitations in using AI-based tools, the accuracy, completeness, or timeliness of such articles cannot be guaranteed. This article is intended for informational purposes only. Seeking Alpha does not take account of your objectives or your financial situation and does not offer any personalized investment advice. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank.

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Stefon Diggs found not guilty of felony strangulation on personal chef

Free agent NFL receiver Stefon Diggs has been found not guilty of felony strangulation and not guilty of misdemeanor assault and battery in connection with an alleged dispute with his private chef over money she said he owed her for her services.

Diggs remained stoic in the courtroom as the verdicts were announced, following less that two hours of deliberation by the jury.

Diggs was charged Dec. 30 and pleaded not guilty during his arraignment at Massachusetts’ Dedham District Court on Feb. 13, five days after playing in Super Bowl LX with the New England Patriots.

Diggs did not take the stand during the trial, which started Monday in Norfolk County District Court in Dedham, Mass.

His accuser, Jamila Adams, told the jury that the 11-year NFL veteran “smacked me with an open hand” and wrapped his arm around her neck during an incident that is alleged to have occurred at Diggs’ house on Dec. 2.

“When I went up to block him, he took his arms and came around my neck and he began to choke me,” said Adams, who became emotional during her testimony.

Defense attorney Andrew Kettlewell told jurors there was no evidence of an assault, with no one in the house reporting anything of the kind and no medical records, photos or video that documented any injuries.

Adams said she did not take any photos or video that showed any marks on her body that could be used as evidence because she “was in shock.”

According to Adams, her employment dynamic with Diggs was “complicated.” The two of them have known each other for more than four years, she said, and had previously been in a sexual relationship, although they were not at the time of the alleged assault. As Diggs’ private chef, she lived in his home and prepared him meals and snacks, she said.

In reporting the alleged incident to police Dec. 16, Adams said she and Diggs had a dispute over payment she thought she was owed. Kettlewell told jurors that Adams had sought money from Diggs after reporting the alleged incident, in amounts that increased over time and culminated in her attorney seeking $5.5 million.

“She was furious and she wanted Mr. Diggs to pay in every sense of that word,” Kettlewell said.

Asked Tuesday about the $5.5-million claim, Adams answered at various points, “I can’t speak on that,” “I don’t understand the question” and “I don’t know how to answer the question.”

At times during the trial, Judge Jeanmarie Carroll instructed jurors to disregard parts of Adams’ testimony that the judge said went beyond the scope of the questions.

The Associated Press contributed to this report.

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Broken Spirit: Jet Fuel Surge, Iran War Rattle Airlines

Amid Spirit Airlines’ bankruptcy, airlines that were once confident in their financial resilience are now navigating a volatile geopolitical landscape.

The collapse of Spirit Airlines, the scrappy low-cost carrier, underscores the fragile economics of air travel amid $4-per-gallon jet fuel and high crude prices.

From Atlanta-based Delta Air Lines to Hong Kong-based Cathay Pacific, carriers are reassessing routes and fares as soaring fuel costs threaten profits, while the Iran war disrupts shipping through the Strait of Hormuz.

Airlines and investors had anticipated stable fuel costs in the second quarter, but analysts have had to adjust their outlooks. Forward-looking projections indicate fuel prices will remain above previous forecasts, a development that could continue to pressure airline profit margins and ticket pricing strategies.

“Fuel forward expectations for the second quarter haven’t changed, but what has changed are expectations for the rest of the year,” Matt Woodruff, head of aerospace and defense/transports at CreditSights, told Global Finance. “[Fuel prices] will be higher for longer than we were thinking a month or two ago.”

‘Good Aircraft’ Grounded

On April 23, former President Donald Trump publicly mused about rescuing Spirit Airlines, calling the carrier “virtually debt-free” and noting its “good aircraft, good assets.” He suggested buying the airline and potentially profiting when oil prices decline, adding, “I’d love to be able to save those jobs … I like having a lot of airlines, so it’s competitive.”

The plan never materialized, and Spirit shut down on May 3. Travelers remained stranded as jet fuel prices hit unprecedented highs amid the Iran war, now more than two months old.

“We regret to inform you that all Spirit Airlines flights have been canceled, effective immediately,” read a notice when opening the carrier’s app.

The ripple effects were felt beyond Dania Beach, Florida, where the airline is based. Spirit operated international flights throughout Latin America, the Caribbean, and Central America, including Colombia, Mexico, the Dominican Republic, Jamaica, Peru, Costa Rica, and Aruba. Its sudden closure left 17,000 direct and indirect employees without work.

The Trump administration and Treasury Secretary Scott Bessent quickly blamed Biden-era opposition to the much-debated Spirit/JetBlue Airways Corp. merger. The two carriers had a $3.8 billion deal in the works, which Bessent argued “would have given them much more resiliency.” Spirit filed for bankruptcy protection in November 2024, saddled with more than $2.5 billion in losses since 2020.

But no airline, not even one with low-cost appeal, is immune to the whims of the global oil market.

At the time of Spirit’s first bankruptcy under Biden, U.S. airlines were paying an average of $2.31 per gallon for jet fuel. Under Trump, that figure has nearly doubled, with the Argus US Jet Fuel Index reporting $4.26 per gallon as of May 4.

Consider the Warnings

Brent crude prices are hovering above $100 per barrel, while regional conflicts near the Strait of Hormuz—through which a significant share of the world’s oil passes—continue to heighten supply concerns.

Fuel is often the largest single operating expense for airlines. Delta Air Lines, for example, disclosed in a March filing that its 2025 fuel costs accounted for 31.3% of its operating expenses. The company noted that a one-cent increase in jet fuel adds about $40 million to its fuel tab for the year.

Delta paid $2.7 billion for fuel in the first quarter of 2026.

The airline produces some of its own jet fuel, which means it avoids paying full market prices for fuel conversion, shielding it from the worst of the “crack spread” costs, Woodruff said. “They’re getting a benefit relative to everyone else, but they’re still feeling it.”

Cuts are underway. Starting May 19, the company will no longer offer food or drinks on flights under 349 miles.

Other carriers are responding to the latest volatility by raising fares, canceling routes, rerouting aircraft to avoid restricted airspace, and reconsidering expansion plans. Airfares have increased five times since the war in Iran began, with a sixth hike underway late last month, according to the Wall Street Journal.

“The routes that aren’t doing well, those are going first,” Woodruff said. “Regional jets, for example, often don’t make much money — those are, for sure, a target.”

What’s Next

Spirit isn’t the only airline feeling the effects of this new norm. Its former suitor, JetBlue, is reevaluating routes that may no longer cover rising fuel, airport, and maintenance costs. Delta is canceling hundreds of flights, while international carriers — including Paris-based Air France, Cologne-based Lufthansa, and Cathay Pacific — are trimming routes to protect margins.

This shift stands in stark contrast to late 2024, when Delta CEO Ed Bastian welcomed the incoming Trump administration as a “breath of fresh air.” Through much of 2025, that optimism seemed justified, as major U.S. carriers forecast continued profitability into 2026.

And that might still be the case despite the war in Iran rattling global energy markets and upending long-held assumptions about fuel stability and travel demand.

Each airline is now telling a two-sided story about how robust demand is while also raising fares. United Airlines’ fare numbers, for example, will be 15% to 20% higher than last year. 

Whether consumers will tolerate such a price hike remains to be seen. “Ultimately, consumers are going to decide what they are willing to pay and what they aren’t, not a formula,” Southwest CEO Bob Jordan told reporters in April.

Chevron CEO Mike Wirth echoed the concern, telling CBS’s Face the Nation on April 23 that instability in the Strait of Hormuz was likely to continue driving up energy costs.

Even the forward fuel curves today indicate that, even if the war ended today, costs wouldn’t normalize until well into next year, Woodruff said.

By 2027, airlines expect to offset most, if not all, of the recent fuel cost increases through higher fares, he added. But that outlook assumes forward fuel prices in the first quarter of 2027 will be lower than they are today. If they’re not, carriers could continue to face significant financial pressure.

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GOP bill would fund $1 billion in White House security upgrades for Trump’s ballroom

Senate Republicans have added $1 billion in White House security upgrades to legislation that would fund immigration enforcement agencies, a proposed boost for President Trump’s ballroom project after a man was charged with trying to assassinate him at the White House Correspondents’ Assn. dinner last week.

The GOP bill released late Monday would designate the money for the U.S. Secret Service for “security adjustments and upgrades” related to the ballroom project, which Trump and Republicans have been pushing since Cole Tomas Allen allegedly stormed the April 25 media dinner at the Washington Hilton with guns and knives. The legislation says the money would support enhancements to the ballroom project, “including above-ground and below-ground security features,” but also specifies that the money may not be used for non-security elements.

White House spokesperson Davis Ingle praised Republicans for including the money for the “long overdue” project, saying it would “provide the United States Secret Service with the resources they need to fully and completely harden the White House complex, in addition to the many other critical missions for the USSS.”

The money is part of a larger bill to pay for Immigration and Customs Enforcement and Border Patrol, as Democrats have been blocking funds for both agencies since mid-February. Congress passed bipartisan legislation to fund the rest of the Homeland Security Department on April 30 after a record-long shutdown, but Republicans are using a partisan budget maneuver to push through the ICE and Border Patrol dollars on their own. The House has not released its bill yet, but the Senate is expected to start voting on its version of the legislation next week.

It is unclear exactly how the $1 billion would be used, and the amount far exceeds the proposed $400 million for construction of the ballroom. The White House has said in court documents that the East Wing project would be “heavily fortified,” including bomb shelters, military installations and a medical facility underneath the ballroom. Trump has said it should include bulletproof glass and be able to repel drone attacks.

The National Trust for Historic Preservation has sued to block construction of the project, but a federal appeals court said last month that it can continue in the meantime.

The White House has said that private money would pay for the construction but public money would be used for security measures. Some Republicans have suggested that public money pay for all of it, arguing the security breach at the dinner shows the president needs a secure place to host events.

“It would be insane” to hold the dinner at a hotel again, said Republican Sen. Lindsey Graham of South Carolina, who introduced a bill to pay for the ballroom’s construction with Sen. Katie Britt, R-Ala.

Democrats have said they will oppose any efforts to pay for the ballroom.

“While Americans are struggling to make ends meet as a result of President Trump’s failed policies, Republicans are focused on providing tens of billions of dollars for the President’s vanity ballroom project and cruel mass deportation campaign,” said Illinois Sen. Dick Durbin, the top Democrat on the Senate Judiciary Committee, which oversees the U.S. Secret Service.

Jalonick writes for the Associated Press. AP writer Darlene Superville contributed to this report.

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EU trade chief urges US to ‘swiftly’ restore 15% tariff arrangement

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EU Trade Commissioner Maroš Šefčovič on Tuesday urged the US to honour its side of the EU-US trade deal during a meeting in Paris with US Trade Representative Jamieson Greer.


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Tensions have escalated in recent days over the implementation of the EU-US trade deal reached almost a year ago in Turnberry, Scotland, after US President Donald Trump threatened to impose 25% tariffs on EU cars, in breach of the agreement capping US tariffs on EU goods at 15%.

The agreement was further shaken in February after the White House introduced new tariffs following a US Supreme Court ruling declaring the 2025 tariffs illegal.

A European Commission spokesperson said Tuesday that during the 90-minute meeting with Greer, Šefčovič called for a “swift return” to the agreed Turnberry terms, meaning “a 15% all-inclusive tariff rate.”

The US currently imposes a 10% tariff on EU goods on top of duties already in place before Trump’s return to the White House in 2025, with rates varying across EU products. Combined duties can now reach as much as 30% on certain EU exports, such as cheese, exceeding the 15% cap established in the EU–US agreement.

During the meeting, Šefčovič also updated his counterpart on the EU’s implementation of the agreement, the spokesperson said, “to clarify” where the EU “stands.”

Washington wants Brussels to accelerate the EU legislative process needed to implement the deal, including the bloc’s commitment to cut tariffs on US industrial goods to zero.

But negotiations between EU governments and members of the European Parliament remain tense.

MEPs want to add safeguards that would make EU tariff cuts conditional on the US implementing its side of the agreement. They are also pushing for a “sunset clause” that would terminate the deal in March 2028 unless renewed.

The European Parliament’s position is backed by France, while Germany and other member states want to preserve the original agreement struck in July 2025 by Trump and European Commission President Ursula von der Leyen.

A round of negotiation is scheduled for Wednesday evening.

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Players v Grand Slams: Aryna Sabalenka says top players will boycott a major ‘at some point’ over prize money

Poland’s Swiatek said she would prefer continued discussions and negotiations with the majors instead of a boycott.

“I think the most important thing is to have proper communication and discussions with the governing bodies so we have some space to talk and maybe negotiate,” the Wimbledon champion said.

“Hopefully before Roland Garros there’s going to be opportunity to have these type of meetings and we’ll see how they go.

“But boycotting the tournament, it’s a bit extreme kind of situation.

“I guess we as players are here to play as individuals, and we’re competing against each other.

“So it’s really hard for me to say how it would work, if it’s even there on the picture. For now, I haven’t heard anything.”

But French Open champion Gauff thinks strike action would be a genuine possibility if the players come together as one.

“If we all collectively agree, then yes,” the American said.

“I wouldn’t want to be the only one, but we definitely can move more as a collective.

“From the things I’ve seen with other sports, usually to make massive progress and things like this, it takes a union. We have to become unionised in some way.”

World number two Elena Rybakina says she has not been involved in the campaign, but would go with the majority.

“If the majority say we are boycotting, then of course I’m up for it. It’s not an issue,” the Australian Open champion said.

World number five Jessica Pegula has been an articulate advocate of the players’ campaign, but virtually ruled out strike action during a BBC Sport interview in Indian Wells in March.

“We love playing the Slams – I don’t think anyone’s going to strike against the Slams,” the American said.

“I just think it’s us asking for what we think we deserve, but I do think that if the men and the women can come together – which we have on that front – and keep pushing, there’s nothing wrong with us just asking for what we think is right.”

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Ten years of Brexit: How have UK equities and the pound performed?

Almost a decade after British voters chose to leave the European Union on 23 June 2016, the FTSE 100 has been hitting record highs.


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Yet beneath the headline, the financial scars of that vote remain unmistakable.

A new Morningstar analysis titled “The Brexit Decade” laid out the damage in numbers that are hard to dismiss.

Since the referendum, UK equity funds have bled roughly $160 billion in cumulative net outflows, six consecutive years of redemptions that have hardened into a structural loss of confidence rather than a passing cyclical drawdown.

How wide a performance gap has opened between UK stocks and comparable equity markets since the vote? And how has the pound fared?

UK FTSE 100 has trailed Wall Street and continental Europe

The numbers speak for themselves.

The FTSE 100, the benchmark tracking the 100 largest companies listed on the London Stock Exchange, has gained 62% since Brexit.

Over a 10-year window, that works out to a compounded annual growth rate of just under 5%.

Wall Street has run a different race. The S&P 500 has rallied 253% over the same stretch, a 13.4% annualised return — almost three times the pace of UK large-caps.

The gap is not just a transatlantic story.

Within Europe, the German DAX has returned 151% and the Euro STOXX 50 has gained 109%, suggesting Brexit has weighed more heavily on London than on the continental rivals it left behind.

Why UK markets lagged: A pre-existing weakness Brexit made worse

According to Morningstar, Brexit was a catalyst rather than the root cause of the UK market’s underperformance.

The UK equity market entered the 2016 referendum with pre-existing structural headwinds — declining domestic pension demand, capital rotating toward US growth markets, and an unfavourable sector mix tilted toward energy, banks and miners rather than the technology platforms that dominated the 2010s.

Brexit amplified and accelerated these trends, increasing the UK’s perceived risk premium and damaging confidence at a critical moment.

Investor behaviour has been unambiguous. UK allocations were systematically redeployed to the US, while passive strategies gained share as active UK equity economics deteriorated.

The UK’s footprint in global benchmarks has roughly halved over the past two decades, falling from nearly 10% of the MSCI ACWI to around 4% today.

In the most aggressive sterling-allocation fund category tracked by Morningstar, average UK equity weights have collapsed from 40% to 18%, with the freed-up capital systematically redeployed to US equities.

The asset management industry has felt the chill directly.

Around 380 UK equity strategies have closed since 2016 against just over 200 launches, and the share of total assets sitting in passive UK equity vehicles has climbed from 22% to 46% over the same period.

Active large-cap managers, including Columbia Threadneedle, Jupiter, Liontrust, Aviva and Schroders, have absorbed the heaviest outflows. Vanguard, iShares and Phoenix Group have absorbed the inflows.

The damage was then compounded by Covid-19, the global inflation shock, geopolitical conflict, falling foreign direct investment, weaker goods exports and domestic policy missteps — most notably the gilt market crisis of autumn 2022.

Isolating Brexit’s impact is difficult, Morningstar acknowledges, but there is no serious argument that it did not materially worsen outcomes.

Sterling: Weaker where it matters most

The currency market tells a parallel story. The pound is down about 10% versus the US dollar and 12% versus the euro since the Brexit vote.

Against the world’s two reserve currencies, sterling has lost ground.

On the eve of the Brexit referendum, one pound bought €1.31. Almost a decade later, it buys just €1.15 — a roughly 12% loss of purchasing power against the single currency that the United Kingdom voted to step away from.

The picture sharpens against central and eastern European peers.

Sterling has tumbled over 20% against the Czech koruna and 13% against the Polish zloty, both economies that have absorbed manufacturing capacity and foreign direct investment that might otherwise have flowed to the UK.

Notably, the pound has barely held its ground against the Hungarian forint, eking out a 1.8% gain against one of Europe’s most volatile currencies.

Is there a turning point for UK markets?

The narrative is no longer one-way.

Since 2022, UK equities have outperformed US and global markets, driven by a strong value rotation and resilient dividends — without meaningful multiple expansion, according to Morningstar.

Valuations still reflect pessimism, however.

The UK trades at a 30% to 35% price-to-earnings discount to the US, with small and mid-caps the most depressed relative to history and developed peers.

Elevated mergers and acquisitions activity and record share buybacks suggest corporate insiders and overseas acquirers see value where public investors remain sceptical.

Some fund managers see this as the entry point.

Natalie Bell, fund manager on the Liontrust Economic Advantage team, said in a recent note that “valuations remain significantly depressed versus long run averages and other comparable markets,” adding that her team sees a broad-based valuation reversion opportunity for UK equities, particularly in small and micro-caps, even if the timing and magnitude is difficult to predict.

Others remain more cautious. Mislav Matejka, head of global and European equity strategy at JP Morgan, has argued that British equities often do well when investors turn bearish on everything else, given the FTSE 100’s defensive, liquid profile.

He sees the UK index rising 5% to 10% in 2026 but does not hold an overweight, on the view that the UK lacks a clear growth catalyst comparable to those emerging in Germany or China.

Ten years on from the vote, the question for international investors is no longer whether Brexit hurt UK markets — it is whether the resulting discount has now become the opportunity.

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Shares slip as oil prices stay elevated near peaks on Iran war concerns

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Oil prices fell back in early trade but remained elevated as investors kept an eye on escalating tensions between the US and Iran and progress on ships passing through the Strait of Hormuz.


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At the time of writing, Brent crude was trading 1.38% lower at $112.86 while US crude, or WTI, was down 2.27% at $104 per barrel. US futures edged 0.1% higher.

Elsewhere, regional trading was thin overnight with markets in Japan, South Korea and mainland China closed for holidays.

Hong Kong’s Hang Seng fell 1.1% to 25,805.98. Australia’s S&P/ASX 200 lost 0.5% to 8,649.80, while Taiwan’s Taiex traded 0.2% lower at 40,626.22.

The fragile ceasefire between the US and Iran was tested on Monday after the US military said it had sank six Iranian small boats targeting civilian ships, while two US-flagged ships successfully passed through the Strait of Hormuz.

The key waterway for oil and gas transport remains largely closed despite repeated demands from the US for Iran to reopen the strait and as the United States imposed a sea blockade on Iranian ports. US President Donald Trump’s “Project Freedom” plan under which the United States would help guide stranded ships through the Strait of Hormuz began on Monday.

Brent crude, the international standard, surged above $114 a barrel on Monday, gaining nearly 6%. Before the war began in late February, it was trading near $70.

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DTCC Launching Tokenization for $114T Asset Market This July

Just-in-time account funding may be right around the corner as tokenization provides real-time capabilities.

Banks, broker-dealers, and clearing agencies could soon reduce capital buffers as Depository Trust & Clearing Corporation (DTCC) moves closer to operationalizing tokenization through its subsidiary, Depository Trust Company (DTC).

The DTC—which provides book-entry custody for more than $114 trillion in assets, such as municipal bonds, corporate bonds, corporate stocks, and money market instruments from the U.S. and more than 131 other countries and territories—expects to launch a limited first phase of its tokenization service in July. The full service is scheduled to roll out in October.

In December 2025, the U.S. Securities and Exchange Commission (SEC) granted the industry utility permission for a three-year pilot to process highly liquid assets, including components of the Russell 1000 Index, exchange-traded funds that track other major U.S. indices, and various Treasuries. The intent is to give tokenized securities the same entitlements, protections, and ownership rights as assets currently held in DTC custody.

“Our vision is coming to fruition,” said Frank La Salla, president and CEO of DTCC, in Monday’s announcement. “Tokenization has the potential to reshape market structure by improving liquidity, transparency and efficiency.”

Standards Aligned

Tokenization—which creates a digital representation of a tangible asset like real estate or municipal bonds—is no longer just a finance-sector buzzword. More companies are weaving tokens into their corporate finance strategies, using them in a wide array of instruments, including smart contracts, stablecoins and tokenized U.S. Treasury bills.

The DTCC developed the tokenization platform in collaboration with the DTCC Industry Working Group, which includes more than 50 custodians, asset managers, broker-dealers, and market infrastructure providers across traditional and decentralized finance. The group is focused on aligning standards and preparing market participants for new operational and settlement workflows.

Despite the infrastructure milestone, the near-term implications for corporate treasurers may be limited.

“I don’t see a material benefit yet for CFOs,” said David Easthope, senior analyst and head of fintech research at Coalition Greenwich. “The more immediate value proposition is coming from stablecoins, not tokenized securities.” He added that the benefits for issuers, and their representatives like CFOs and treasurers, “are much further out in the tech cycle that we are in.”

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With ‘Eterno,’ Calle 24 is ready to move on from the glitz

Like most of his música mexicana contemporaries, Diego Millán, better known artistically as Calle 24, sang about the excesses of living the rock star life — the money, the cars, the booze and the women.

Since signing with Street Mob Records — the independent label founded by Fuerza Regida frontman Jesús “JOP” Ortiz Paz — in 2020, the singer-songwriter has been responsible for hits like “Que Onda, ” which featured labelmates Chino Pacas and Fuerza Regida. The trombone-laced earworm about a deboucherous tryst was a breakthrough for Millán, reaching No. 61 on the Billboard Hot 100 after it debuted in August 2023.

These days, the 23-year-old Chihuahua-born artist is dialing down the glitz, opting for songs that aren’t about living the luxurious life.

“Money brings more problems,” Millán tells me inside an Italian restaurant at the Americana at Brand, Glendale’s monument to opulent consumerism. “Because the more money you have, the more things you have to support.”

In April, Millán released “Eterno,” his fourth studio album. The 15-track LP largely forgoes the boisterous brass section that’s become a staple in the genre in favor of stripped-down tracks about being disillusioned with newfound wealth (“10 de mayo”), his mental health (the gritty “Si Me Ven”) and romantic heartbreak and anguish (“Solo”). He also touches on a topic that might be too taboo to discuss: Mexico’s widespread systemic relationship of organized crime (“El Sentrita”).

Millán says this is the most authentic he’s ever been in his music, something he attributes to moving back to Mexico, a country he believes is deeply misunderstood and has profoundlyshaped his personality.

“[Mexico] is filled with deep values, strong ethics and a profound sense of social understanding,” he said.

While música mexicana artists might feel compelled to move to the states in search of fame and fortune, Millán now finds freedom in his native country — and through “Eterno.”

“Now, I can be myself,” he said.

The follwing interview was conducted in Spanish, and has been condensed and edited for clarity.

In “Solo” you talk about romantic loneliness. Why was that vulnerability important to include in this album?

I prefer to approach those themes from a more grounded perspective. With that song, I wanted to really open myself up to that feeling and express regret, that sense of loneliness that comes with saying “I screwed things up.” I feel that’s how you establish a deeper connection with your audience. After all, so many people out there don’t have luxuries or material things like that so how do you get to them? With emotion. A feeling that expresses regret, including with the phrase: “I know I’m a piece of s—, but you know that I love you.”

It reminds me of Joan Sebastian’s “Un Idiota,” in which the singer admits he still loves the person he wronged, and that he knows he messed up.

That’s what I wanted to do too, talk about the human experience and what it is. I wanted people to listen to it as they’re drinking, and all of a sudden that wave of feelings just hits you like a slap to the face.

The song “Si Me Ven” talks about burnout and the idea that money isn’t as fulfilling as one might think. Did you base it out of your own personal experiences?

This song fits like a ring on my finger. They say that money won’t make you happy and it’s true. In my case, I spent five years without seeing my family and missed many things.

On Instagram, you told fans: “I feel like I am more human than artist, I hope you all can understand. Sometimes I wake up wanting to do nothing, or sometimes asking myself what am I doing? Where am I going?” Do you feel drained by this career?

Of course [being a successful musician] is my dream, but I didn’t know all that it would entail. To this day, it has been draining, and there’s some days where I don’t feel like doing anything because I’m more of a person than an artist. There are some colleagues that do live life as if it were a movie, but I’m more of a homebody.

How do you make sense of the industry where part of the allure is tied to wealth, fancy cars and material goods?

I obviously love cars. Any normal person would love those types of things. And when you work hard, of course you fill the gaps you had when you were younger. But I don’t like putting it in people’s faces.

You say this, but your “Eterno” album cover shows you with a stack of money.

[Laughs] But there’s something curious about that cover. I was feeling down that day, there was just a lot of sadness around that time. Yet there I am, surrounded by all that stuff and that’s where the clash lies, you know? That contrast is what gives my album cover its depth.

Let’s talk about “El Sentrita.” The song contextualizes organized crime as a systemic issue. What prompted you to write about this topic?

I wanted to frame it as social commentary, addressing what has been going on in Mexico for decades, as well as the obstacles we face as artists who aren’t allowed to express ourselves or certain themes through music. Just as we were discussing right now, rap used to be how artists delivered social commentary through the medium of music. I would like to do that as well.

I figured if the government tells me I can’t sing a corrido, then I’ll use a corrido to offer them some criticism instead. You have to pay close attention to follow the character’s storyline as it unfolds. At the end of the song, it hits you, none of this would have happened if someone would have given him a chance. The goal was to raise awareness, to show that there are so many dreams within [Mexico] but they need to be given the opportunity to pursue them so that they don’t end up on the wrong path.

The music video for “El Sentrita” shows how one young boy gets roped into organized crime. It feels less of a choice and more a result of the system. Tell me more about this decision to give dimension to the character.

That’s the question: Who is the victim in this system? The way I saw it was that he was a good person who fell in with bad people and ended up becoming a bad person himself. If we look at it from a different angle, one where you don’t judge whether a person is good or bad, he was simply someone operating in that world out of necessity.

That’s when you have to question yourself and ask: how can we call someone a bad person when society leaves them with no other choice. I also wanted to do this to show young people that life in that world isn’t easy. Society right now is deeply damaged. This new generation of youth needs a lot of attention.

There is a phrase at the end of the song where you say, “You don’t sing about what you do, you sing about what you see.” What did you mean by that?

Because it’s not like we’re out there doing those things, you know? We aren’t engaging in any kind of criminal activity whatsoever. We simply sing, literally, about what we see, about what goes down in [Mexico] every single day. Because it’s not just some isolated incident; it’s something that happens constantly — day in, day out, without fail.

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Sri Lanka: FDI Is on the Rise

VITAL STATISTICS
Location: South Asia
Neighbors: India and the Maldives by sea
Capital city: Colombo is the executive and judicial capital; Sri Jayewardenepura Kotte is the legislative capital
Population [2024]: 21.8 million
Official language: Sinhalese, Tamil
GDP per capita [Est. 2026]: $5,250
GDP growth [Est. 2026]: 3.1%-3.3%
Inflation [March 2026]:
2.2%; 5.2% expected for 2026
Currency: Sri Lankan rupee
Credit Rating (Fitch January 2026): CCC+
Investment promotion agency: The Board of Investment of Sri Lanka (BOI) and the Export Development Board. The BOI has reduced the minimum investment threshold to $250,000 from $3 million.
Further reductions are available for tech-based branch offices. Service exports (IT/BPO) have 15% corporate tax rate. Multi-year income tax break are available for strategic development projects that exceed $50 million. Foreign owners guaranteed repatriation of capital and profits under the law.
Corruption Perceptions Index rank [2025]: 107/182, where 182 is the most corrupt
Political risk:
The energy and cost-of-living crisis; risk of public unrest; bureaucratic red tape
Security risk:
Violent crime against foreigners is rare

Sri Lanka is rewriting its economic story. After enduring the 2022 economic collapse and the devastation of Cyclone Ditwah in late November 2025—the deadliest disaster since the 2004 tsunami—the nation has emerged with renewed global confidence. The Board of Investment (BOI) recently reported that 2025 foreign direct investment (FDI) surged by 72%, reaching a historic $1.06 billion—the first time foreign investments in the country crossed the billion-dollar threshold.

Foreign investors are not merely maintaining their existing positions but are placing fresh, long-term bets on the country’s future in the form of greenfield investments that involve the highest upfront risk and longest payback horizons, says Hirotaka Mizutani, Founder & Representative Director of management consultancy One Step Beyond.

“Notably, 24 new greenfield projects contributed $134 million, representing approximately 13% of the total FDI,” he added. “This significantly exceeds the historical norm of 2% to 10%.”

This rebound is anchored by Singapore ($318.9 million), India ($213.7 million), and France ($122.5 million), followed by the Netherlands and Luxembourg. New capital is also flowing from the US, Malaysia, and Hong Kong. By sector, manufacturing led with a 46% share of the new capital, followed by port development (26%), tourism (11%), telecommunications (6%), and property development (5%).

Sri Lanka: ‘A Neutral Zone’

Although a smaller slice of the investment pie, the real estate sector is viewed as a high-upside opportunity. Indika Hettiarachchi, an independent private market investment and strategy consultant, notes that Sri Lanka’s real estate offers attractive entry costs as the economy stabilizes. He argues that by maintaining strategic neutrality, the island provides a secure alternative to Middle Eastern hubs disrupted by the Iran war.

“This reliability was strikingly demonstrated during the 2026 International Cricket Council Men’s T20 World Cup, where Colombo successfully hosted high-stakes fixtures like the India-Pakistan match, signaling to investors that the nation’s emergence as a regional center is increasingly compelling,” he adds.

Sri Lanka’s reputation as a stable “neutral zone” has increased investor confidence and capital inflows. The $3.7 billion Sinopec oil refinery project in Hambantota, finalized in 2025, is the country’s largest-ever FDI and a cornerstone in addressing its energy challenges. This commitment exceeds other major projects, including the $1.4 billion Colombo Port City development and the $700 million Adani Group terminal.

Meanwhile, China Harbour Engineering Company Port City Colombo confirmed a $300 million FDI commitment in January 2026.

Beyond securing the nation’s energy and port development, investments are diversifying into high-value niches, such as information and communication technology, renewable energy, and a “Green and Digital Economy” mandate that includes the 2030 Digital Economy Strategy and the use of quartz in the solar supply chain.

PROS
Located on a major strategic shipping route between Asia and Europe
Fast-growing transshipment hub
Aims for 70% of electricity to be generated from renewable sources by 2030
South Asian Free Trade Area, Asia-Pacific Trade Agreement, current EU GSP+ program valid till 2027, and the Thailand-Sri Lanka Free Trade Agreement
English-speaking, technologically
proficient workforce
A 10-year residency visa is available for a $200,000 investment in government-approved investments

Promising Sectors

Yasiru Ranaraja, Founding Director of the Belt and Road Initiative Sri Lanka, highlights that the most promising sectors are logistics, supply chain management, and high-value services.

“Sri Lanka sits directly along the main East-West shipping route, and the Port of Colombo has already become South Asia’s largest transshipment hub,” he says.

“As trade between Asia and Africa expands in what many analysts call the ‘Asian century,’ maritime traffic through the Indian Ocean is expected to grow significantly. Colombo is well-positioned to benefit from this shift.”

Corporate titans are propelling this expansion. Indian heavyweights include UltraTech Cement, a gray cement manufacturer, alongside tire leader CEAT, and energy giant Lanka IOC.

US-based Synopsys and Virtusa lead in semiconductor design and digital engineering, respectively.

Japanese firms, such as Tos Lanka, manufacture high-precision electronics, and YKK Lanka makes zippers for apparel.

CONS
India-China investment competition may affect project approvals
Volatile currency
Foreigners can only lease real estate
Highly vulnerable to climate disasters
Small domestic market
IMF reform pressures
SOURCES: World Bank, KPMG Sri Lanka Budget Analysis 2026 Snapshot Report, IMF, Ministry of Finance, Economic Policy Statement 2026, Board of Investment Sri Lanka – Investment Guide 2026, Central Bank of Sri Lanka, Asian Development Bank Outlook 2026, Transparency International, www.newswire.lk, 15th Census of Population and Housing
For more information on Sri Lanka, check out our Country Economic Reports.

Tourism Steps Up

Sri Lanka’s tourism industry is a magnet for premium global brands. Hong Kong’s Shangri-La anchors Sri Lanka’s luxury sector with properties in Colombo and Hambantota, alongside a significant presence from India’s Taj Hotels and ITC, and US leaders Hilton and Marriott.

Regional strength is further bolstered by Nepal’s CG Corp Global, which holds strategic stakes in the island’s homegrown Jetwing Hotels. With more than 20,000 new hotel room keys expected to be operational in 2026, Sri Lanka’s tourism strategy has shifted toward high-yield, experiential travel.

Facilitating this influx of capital is a package of structural incentives designed to eliminate red tape. This includes amending the Strategic Development Projects Act to allow tax holidays of up to 40 years within the Colombo Port City Special Economic Zone.

Additionally, Sri Lanka’s new Investment Protection Bill and a “single-window” approval system ensure a predictable business environment. However, while the government has committed to this initiative, “the real test will be whether it delivers genuine bureaucratic streamlining rather than a cosmetic rebranding,” argues One Step Beyond’s Mizutani.

A new Public-Private Partnership Act, expected to be introduced in the first half of 2026, will further liberalize the economy by inviting private equity into the infrastructure, energy, and telecom sectors.

It will also enhance stability through the restructuring of state-owned enterprises.

Sri Lanka’s investor-friendly landscape is underpinned by a network of four Free Trade Agreements, 28 Bilateral Investment Protection Treaties, and 46 Double Tax Avoidance Agreements.

Furthermore, while the IMF projects growth of 3.1%-3.3% for 2026, the Central Bank of Sri Lanka has upgraded its forecast to 4%-5%. Reserves are at a post-crisis high of $7 billion, supported by a 32% surge in early-year remittances and a 92% completion rate on public external debt restructuring.

Nonetheless, Sri Lanka’s staff-level agreement for $700 million confirms a return to stability, though it remains fragile.

The IMF stresses the need to build resilience against Middle East energy shocks and post-Cyclone Ditwah reconstruction. Additionally, the government must pass its anti-money laundering evaluation to avoid inclusion on the Financial Action Task Force’s “Grey List” of jurisdictions under increased monitoring for financial crime and secure a long-term recovery.

The post Sri Lanka: FDI Is on the Rise appeared first on Global Finance Magazine.

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EU and US trade chiefs to meet as tariff tensions escalate

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The EU Trade Commissioner Maroš Šefčovič is scheduled to meet his US counterpart Jamieson Greer on Tuesday amid rising tensions between the bloc and the US following President Donald Trump’s announcement of a potential 25% tariff on EU automobiles.


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The discussions, scheduled ahead of a G7 trade ministers’ meeting in Paris, were planned before President Trump’s latest tariff threat, Euronews has learned.

But they now give both sides an opportunity to ease tensions after Trump signalled measures that would breach the EU-US trade deal agreed last summer in Turnberry, Scotland, between Trump and Commission President Ursula von der Leyen, which caps US tariffs on EU goods at 15%.

On Monday, the Commission sought to project a sense of calm.

“It’s not the first time we have seen threats,” Commission spokesperson Thomas Regnier said, adding: “We remain very calm, focused on enforcing the joint statement in the interests of our companies, of our citizens.”

Trump’s threat came after German Chancellor Friedrich Merz criticised the US approach to the war in Iran, and after Washington announced the withdrawal of 5,000 US troops from Germany, further straining transatlantic relations.

German MEP Bernd Lange (S&D), chair of the European Parliament’s trade committee, told Euronews on Monday that Trump’s threats were aimed specifically at German car manufacturers.

“All options remain open”

The US president also accused the EU of moving too slowly to implement the agreement.

“Since day one we are implementing the Joint Statement [the EU-US deal] and we are fully committed to delivering on our shared commitments,” Regnier said, adding that the EU was seeking predictability in the EU-US trade relation.

The Turnberry deal is currently being negotiated between EU governments and lawmakers before it can enter into force on the EU side. Co-legislators must still agree on the modalities for cutting EU tariffs on US goods to zero, as outlined in the agreement.

MEPs have nonetheless introduced safeguards to ensure the EU is not the only party adhering to its commitments and to protect the bloc from future US threats.

The Commission reiterated Monday that if the US takes measures that are “inconsistent” with the trade deal, all “options” remain open.

Last year, during the trade dispute that followed Trump’s return to power, the EU executive prepared a package targeting €95 billion worth of US products, though the measures were later suspended.

At the time, several EU countries also urged the use of the bloc’s anti-coercion instrument, which enables the EU to respond to economic pressure from third countries with a wide range of trade defence tools, including restrictions on licences and intellectual property rights.

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Anthropic in talks to secure UK-based Fractile AI chips and diversify supply

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The major AI company Anthropic is exploring a potential partnership with the British semiconductor firm Fractile to secure a steady supply of chips for custom inference and reduce the significant overheads associated with current semiconductor solutions.


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According to reports, these talks represent a strategic effort by the San Francisco-based firm to decrease its dependency on Nvidia whilst enhancing the speed and efficiency of its current and next-generation models.

As the global demand for generative AI capacity continues to climb, the financial burden of the hardware required to run these systems has become a primary hurdle for developers.

Anthropic, which has received multi-billion-dollar investments from both Amazon and Google, currently relies heavily on Nvidia’s H100 units alongside custom processors provided by its cloud partners.

However, the high market price and limited availability of these industry-standard chips have squeezed profit margins, prompting firms to look elsewhere.

According to industry analysts, a deal with a specialised firm like Fractile could allow Anthropic to exert greater control over its technical infrastructure.

This strategy reflects a broader trend among tech giants, including Microsoft and Meta, who are increasingly moving away from general-purpose chips in favour of internal or boutique designs.

A shift in memory architecture and a boost for British technology

Founded in 2022 by Oxford PhD Walter Goodwin, Fractile has gained significant attention for its unconventional approach to processor design.

Unlike standard chips that must constantly shuttle data between the processor and separate memory modules, Fractile’s “memory-compute fusion” architecture keeps data directly on the chip using static random-access memory, or SRAM, which does not need to be refreshed.

According to the British start-up, this method can run large language models up to a hundred times faster than existing hardware while lowering operational costs by 90%.

While these performance claims are impressive, the technology is still in the development phase.

Fractile has not yet launched a commercial product, and its specialised chips are not expected to be ready for full-scale data centre deployment until 2027.

Despite the long timeline, the start-up is reportedly in negotiations to raise $200 million (€170.5m) in funding at a valuation exceeding $1 billion (€853m).

The potential partnership highlights the growing significance of the UK’s semiconductor sector on the world stage. If a formal agreement is reached, Fractile could become Anthropic’s fourth major chip supplier, joining the ranks of Nvidia, Google and Amazon.

According to market reports, the discussions remain at an early stage and no binding contract has been signed.

However, the interest from a major player such as Anthropic suggests that in the AI race, the ability to deliver faster and cheaper compute power is the defining factor.

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Bitcoin surge above $80K fuels rally in cryptocurrency-linked stocks (BTC-USD:Cryptocurrency)

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Crypto-linked equities advanced in U.S. premarket as Bitcoin (BTC-USD) surged past $80,000 – its highest level in over three months – amid renewed investor risk appetite.

Coinbase (COIN) gained 4.1%, while other gainers included Strategy (MSTR) +3.3%, MARA Holdings (

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