On August 6, Aflac (NYSE:AFL) reported second-quarter numbers that point in opposite directions. Net earnings climbed to $825 million, helped along by investment losses that shrank to $153 million from $421 million a year ago. Adjusted earnings, though, fell 7.7% to $883 million. Both numbers are real, but they answer different questions. Which measure you trust changes the story, so here is what sits underneath.
Start with the yen, because it is muddying the picture. The average rate was 159.45 to the dollar, 9.3% weaker than a year earlier, and that cost adjusted earnings $0.05 a share. Take the currency out of the first half and adjusted earnings per share rose 4.1% to $3.57. ******* an is also running more profitably. Its pretax adjusted margin widened to 34.3% from 32.0% as claims took a smaller bite out of premiums, and yen-based pretax adjusted earnings rose 3.4%. So part of the decline in ******* an's dollar-reported profit is currency, not operations.
The US business is still growing at the top line. Net earned premiums rose 2.3% to $1.5 billion, and sales climbed 2.6% to $349 million, led by group voluntary benefits along with dental and vision plans. In ******* an, the refreshed Tsumitasu life policy and the new Anshin Palette medical product grew strongly in the quarter, and first-half sales rose 7.0% to ¥37.3 billion. Then there is the cash. Aflac returned $1.3 billion to shareholders in the quarter, $983 million of it through buybacks, and declared a $0.61 third-quarter dividend, payable September 1 to holders of record on August 19, 2026. Management notes 43 straight years of dividend increases through 2025 and says the board is on a path to extend that in 2026.
The catch is that ******* an's profit gains came from lower claims, not a bigger business. Net earned premiums in yen fell 3.7%, mainly because of a new external reinsurance deal and older limited-pay policies reaching paid-up status. Premium persistency, the share of policies customers keep, slipped to 92.7% from 93.7%. ******* an's pretax adjusted earnings still fell 2.1% once currency is stripped out, and new sales dipped 5.6% in the quarter against a tough comparison for the Miraito cancer product, which launched in March 2025.
The US segment has its own soft spot. Pretax adjusted earnings fell 4.6% to $370 million, and the margin narrowed to 20.9% from 22.5% as claims and benefits took a bigger share of premiums. Corporate and Other swung to a $10 million pretax adjusted loss from a $20 million gain a year earlier, with interest expense up 21.6% to $62 million. And adjusted book value per share, excluding foreign currency remeasurement, slid to $41.22 at June 30 from $42.97 a year earlier.

#earnings #fell

Toward the end of the lightning round on September 17, a caller asked for Mad Money's host Jim Cramer's thoughts on Iron Mountain Incorporated (NYSE:IRM), and he replied:
It's been an incredible stock. It's a real estate investment trust, basically. And you know, we know that they shred, 3% yield, down 20 points from its high. I think it's a buy.
Iron Mountain Incorporated (NYSE:IRM) operates a highly durable business model centered on physical records management, secure document destruction, and expanding digital infrastructure. In Q2, total revenue reached $2.03 billion, representing an 18.7% increase year-over-year and 16.8% organic growth. The core physical storage business provides reliable cash flow, with storage rental revenue expanding 11.5% year-over-year excluding foreign-exchange effects across a global customer base of 240,000. Adjusted funds from operations grew 17% to $432.7 million, or $1.44 per share.
At the same time, management has channeled capital into scaling higher-growth segments, including digital solutions, ***** et lifecycle management, and data center operations. The data center segment posted 39% revenue growth during the second quarter, securing 110 megawatts in new leases through July and increasing power capacity across major enterprise markets. Operating as a real estate investment trust, the company maintains a quarterly dividend of $0.864 per share, offering shareholders a forward yield of over 3%.
On the other hand, Iron Mountain Incorporated (NYSE:IRM) faces risks inherent to capital-intensive real estate infrastructure expansion. Rapid buildouts of data center power capacity demand substantial capital expenditure, leading to elevated leverage across the balance sheet. Long-term debt, net of the current portion, reached approximately $17.1 billion at the end of the second quarter, increasing sensitivity to interest rate fluctuations and refinancing costs.

#revenue #Growth

(Bloomberg) -- Barely six weeks out from the midterm elections, housing costs that many Americans have long said are too high are looking even more out of reach.
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Saudis Give European Oil Buyers No Supplies for Next Month
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Blackstone Sees India Nearing Tipping Point for Foreign Capital

#buyers

The move to import foreign beef infuriated Republicans in farm states facing tough reelections — and gave Democrats and independents a rare opening with rural voters.
Independent Nebraska Senate candidate Dan Osborn speaks at an election night watch party at the Embassy Suites by Hilton Omaha La Vista Hotel & Conference Center in La Vista, Neb., Tuesday, Nov. 5, 2024. | Bonnie Ryan/AP
09/20/2026 01:00 AM GMT+9
Farm-state Republicans don’t support President Donald Trump’s move to import cheap beef — but they’re still getting grilled for it.

#republicans #farm #import #democrats

Volkswagen announced a steep cut to its full-year profit outlook on Friday, citing roughly €10 billion ($11.5 billion) in one-time charges concentrated at its troubled Porsche division, amid mounting pressure from U.S. tariffs and a weakening Chinese auto market on the world's second-largest automaker.
The company said it now expects an operating return on sales of up to 1% for 2026, down from its previous guidance of 4% to 5.5%. Volkswagen also said full-year revenue is expected to fall to about €315 billion, from €321.9 billion in 2025.
The bulk of the charges — about €6 billion — stem from revised mid-term ******* umptions for Porsche, in which Volkswagen holds a 75.4% stake. The sports car brand has been hit by U.S. tariffs and a collapse in demand for foreign luxury vehicles in China. On top of that, Volkswagen said it would book a further €2 billion in impairments in the second half of the year, covering China-related writedowns as well as restructuring charges such as costs from early-retirement schemes and the pending divestiture of its Osnabrück plant in Germany, according to The Wall Street Journal.
Volkswagen stock closed down 5.6% following the announcement. Shares of Porsche and Volkswagen's top shareholder Porsche SE fell 3.3% and 4.9%, respectively.
The company cautioned that "further deterioration in the market environment, especially in China, as well as an accelerated shift in demand in favour of battery-electric vehicles" would drag down results, with its Audi and Volkswagen passenger car brands bearing the brunt. Volkswagen noted that its outlook ******* umes tariffs remain unchanged and does not account for possible future effects from the war in the Middle East.

#charges #tariffs #full

By Stine Jacobsen, Jacob Gronholt-Pedersen and Tom Little
COPENHAGEN, Sept 19 (Reuters) - Denmark and Greenland on Saturday said any agreement with the United States would not compromise Greenland's sovereignty, after President Donald Trump said the deal would give Washington "permanent control" over the Arctic ‌island's security, leaving its precise scope unclear.
The United States, Denmark and Greenland said late on Friday they had reached an agreement ‌for the US to develop a significant military presence on Greenland, while prohibiting US adversaries from building their own bases on the island.
Key details of the agreement have not been made public, including the scale of US military presence in the self-governing Danish territory and whether any formal power over foreign policy and resources would be ceded to Washington.
Denmark and Greenland expressed hope that a deal, which is expected to be signed during the UN General ******* embly next week, would end months of uncertainty triggered by Trump's threats to seize control of Greenland.

#greenland #control

On August 6, Aflac (NYSE:AFL) reported second-quarter numbers that point in opposite directions. Net earnings climbed to $825 million, helped along by investment losses that shrank to $153 million from $421 million a year ago. Adjusted earnings, though, fell 7.7% to $883 million. Both numbers are real, but they answer different questions. Which measure you trust changes the story, so here is what sits underneath.
Start with the yen, because it is muddying the picture. The average rate was 159.45 to the dollar, 9.3% weaker than a year earlier, and that cost adjusted earnings $0.05 a share. Take the currency out of the first half and adjusted earnings per share rose 4.1% to $3.57. **** an is also running more profitably. Its pretax adjusted margin widened to 34.3% from 32.0% as claims took a smaller bite out of premiums, and yen-based pretax adjusted earnings rose 3.4%. So part of the decline in **** an's dollar-reported profit is currency, not operations.
The US business is still growing at the top line. Net earned premiums rose 2.3% to $1.5 billion, and sales climbed 2.6% to $349 million, led by group voluntary benefits along with dental and vision plans. In **** an, the refreshed Tsumitasu life policy and the new Anshin Palette medical product grew strongly in the quarter, and first-half sales rose 7.0% to ¥37.3 billion. Then there is the cash. Aflac returned $1.3 billion to shareholders in the quarter, $983 million of it through buybacks, and declared a $0.61 third-quarter dividend, payable September 1 to holders of record on August 19, 2026. Management notes 43 straight years of dividend increases through 2025 and says the board is on a path to extend that in 2026.
The catch is that **** an's profit gains came from lower claims, not a bigger business. Net earned premiums in yen fell 3.7%, mainly because of a new external reinsurance deal and older limited-pay policies reaching paid-up status. Premium persistency, the share of policies customers keep, slipped to 92.7% from 93.7%. **** an's pretax adjusted earnings still fell 2.1% once currency is stripped out, and new sales dipped 5.6% in the quarter against a tough comparison for the Miraito cancer product, which launched in March 2025.
The US segment has its own soft spot. Pretax adjusted earnings fell 4.6% to $370 million, and the margin narrowed to 20.9% from 22.5% as claims and benefits took a bigger share of premiums. Corporate and Other swung to a $10 million pretax adjusted loss from a $20 million gain a year earlier, with interest expense up 21.6% to $62 million. And adjusted book value per share, excluding foreign currency remeasurement, slid to $41.22 at June 30 from $42.97 a year earlier.

#adjusted #pretax

The Federal Communications Commission on Thursday granted Paramount Skydance's request to allow Middle Eastern royal families to hold a substantial stake in a merged Paramount-Warner Bros. Discovery.
Foreign investors, including the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi, are slated to indirectly own nearly 50% of the equity in David Ellison's proposed mega-studio. That will give them a hefty stake in CBS, CNN, Comedy Central, HBO and two historic Hollywood film studios.
Paramount also asked the commission, led by President Trump's appointee Brendan Carr, to allow the foreign investors to eventually take on an even bigger stake because the company expects that it will need more capital to run the merged entity after closing the highly leveraged deal.
The FCC's Media Bureau granted Paramount's petition. Ellison needed FCC approval because the deal will change the ownership structure of CBS.
As part of the Communications Act of 1934, Congress placed restrictions on foreign ownership of broadcast outlets because of concerns about national security. Current rules prevent foreign investors from owning more than 25% of a company that holds a U.S. broadcast license — unless the FCC determines that foreign ownership would serve a public interest.

#stake

The top Democrat on the Senate Foreign Relations Committee has exercised a hold on a $2.8 billion weapons sale to Israel, The Hill has learned, allying with her counterpart in the House and underscoring deep mistrust with the Trump administration and Israeli government.
Sen. Jeanne Shaheen (D-N.H.) has expressed frustration that Israeli Prime Minister Benjamin Netanyahu has done nothing to address concerns from, specifically, Democratic lawmakers over the high civilian death tolls in Gaza, Israel’s bombing in Syria and escalating violence against Palestinians by extremist Israeli settlers in the West Bank.
The weapons package includes 40,000 one-ton bombs, munitions that the former Biden administration held back from sending to Israel for its indiscriminate destruction, contributing to the high death toll in the Gaza Strip.
An estimated 70,000 Palestinians were killed over the course of the three-year war between Israel and Hamas, according to Palestinian health officials, but that does not distinguish between militants and civilians.
Shaheen, as the top Democrat on the Senate Foreign Relations panel, has authority to hold back the Trump administration from moving ahead on weapons sales over a certain dollar amount. It’s generally an informal consultative process, where the State Department works to address a lawmaker’s concerns and get the green light before moving ahead on the arms sale.

#Israel #israeli #weapons #democrat

Answering a caller's query about The Procter & Gamble Company (NYSE:PG) during the lightning round of the September 10 episode of Mad Money, Jim Cramer said:
It's a tough stock. It's a tough stock because they don't have the growth that I want. They do have the 3% yield, but that's not enough. So, I'm going to say, you know, we sold it for the club. Don't look back.
The Procter & Gamble Company's (NYSE:PG) upside relies on elite operational execution and pricing power in high-margin categories. Continuous supply chain savings and an aggressive premiumization push toward items like Tide PODS help protect profitability. Combined with strong free cash flow productivity, management returned roughly $15 billion in FY 2026 through dividends and share buybacks, ensuring a steady earnings floor despite slow top-line growth.
The primary headwind is weak top-line momentum, with organic sales flat in the second quarter as challenging consumer trends, particularly in the U.S., weighed on growth. Foreign exchange friction and cost pressures further cap near-term earnings acceleration. Additionally, while the stock offers a reliable 3% dividend yield, that income profile creates a steep opportunity cost when risk-free ******* ets and higher-growth stocks offer attractive returns. We recently discussed what Cramer thinks is the ideal valuation for a good entry point in our article, "Jim Cramer Discusses Procter & Gamble (PG) Valuation and Growth."
According to Insider Monkey's data, 83 hedge funds had a stake in The Procter & Gamble Company (NYSE:PG) in Q2 compared to 78 in the prior quarter. Short percentage of the float is 1.21%, showing its status as a defensive holding rather than a short target. While the company provides exceptional balance sheet stability and reliable cash returns for defensive portfolios, its modest top-line growth trajectory and premium valuation continue to test investor patience, validating Cramer's decision to reallocate capital toward faster-moving opportunities.

#company

Updated Sept. 15, 2026 3:48 pm ET
Listen
(3 min)
1546 ET – Treasury yields settle at new multi-year highs as markets price a Fed hike while facing an uncertain long-term outlook. Inflation expectations hover around 2.5%, as measured by one-year swap rates, according to LSEG, higher than the Fed’s 2% target. That’s up from below-target expectations in early August. A 20-year Treasury auction clears at the highest yield since 1986, shortly before the tenor was discontinued, and since it was reintroduced in 2020. Demand indicators in the sale come on the soft side. The 10-year yield rises 0.035 percentage point to 4.995%, the highest since July 2007. The two-year adds 0.028 points to 4.661%, highest since July 2024. (paulo.trevisaniwsj.com; ptrevisani)
1430 ET – Treasury yields tick higher as investors demand steeper returns to lend money to Washington long-term. A 20-year Treasury bond auction clears at a yield of 5.42%, the highest since 1986, when the tenor was discontinued, and since it was reintroduced in 2020. Still, demand indicators were on the soft side: the 2.57 bid-to-cover ratio was below the previous six-month average of 2.65, while indirect bidders, a group that includes foreign investors, took 52.5% of the bonds, also below average. The 20-year trades at 5.414%, up from 5.401% before the auction, while the 10-year rises to 5.014% from 4.996%. (paulo.trevisaniwsj.com; ptrevisani)

#treasury #highest #below #yield

WASHINGTON (AP) — The top Democrat on the House Foreign Affairs Committee said Wednesday that he's going to block a proposed sale of $2.8 billion in heavy weaponry to Israel over concerns that the powerful bombs may not be used in line with U.S. and international law.
Rep. Gregory Meeks of New York said he would withhold approval for the sale because of "grave, unresolved concerns" about how these munitions could be used in densely populated areas of Gaza and Lebanon by Israeli Prime Minister Benjamin Netanyahu's government.
"The Trump administration has not provided sufficient ****** urances that these weapons will be used by the Netanyahu government in accordance with U.S. law and with appropriate protections for civilians," Meeks said in a statement. "I therefore will not clear this sale at this time."
Meeks' objections, however, will not likely affect the sale, which was informally notified to lawmakers on Tuesday. Once it is formally notified to Congress, Secretary of State Marco Rubio can bypass the normal congressional review process by making an emergency determination that the transaction is an urgent national security interest.
Rubio has done so in the past, including bypassing a normal congressional review process to approve a nearly $3 billion sale to Israel last year. The administration then approved a new series of arms sales to Israel totaling $6.67 billion in January.

#used

WASHINGTON (AP) — The Trump administration is stripping tens of millions of dollars in U.S. military ******* istance from countries in Europe and the Middle East to support conservative-leaning governments in Central and South America.
The State Department on Tuesday notified Congress that it will reprogram $52 million in foreign military financing from Slovakia, North Macedonia, Tunisia and Iraq to Panama, Peru, Ecuador and Colombia.
Secretary of State Marco Rubio visited Colombia, Ecuador and Peru last week and pledged to them additional support as the Trump administration has prioritized the Western Hemisphere in its foreign policy with an emphasis on combating drug trafficking and illegal immigration.
It is just the latest in a series of moves that have reduced either money or troop deployments to Europe in response to President Donald Trump's complaints about NATO allies not spending enough on their defense budgets and other matters. Both North Macedonia and Slovakia are NATO members.
But it also comes as the administration has put particular attention on the Western Hemisphere, aligning deeply with right-wing governments as Trump celebrates a renewal of the 19th century Monroe Doctrine establishing Washington's dominance in the Americas.

#Trump #Europe #slovakia

Critics are slamming Norway over new legislation that they say singles out Jews. The proposed law could send individuals to prison for up to three years for knowingly conducting certain forms of business with Israeli communities in the West Bank.
The proposal, introduced by Norway's Ministry of Foreign Affairs, would prohibit the importation of goods originating in Israeli communities in the West Bank, including East Jerusalem and the exportation of goods to those communities. It would also restrict certain real estate transactions, construction and engineering services and investments in businesses headquartered and operating there.
Intentional violations could result in fines, imprisonment for up to three years or both, while negligent violations could carry fines, imprisonment for up to six months or both, according to Section 7 of the Norwegian Ministry of Foreign Affairs' official consultation document.
Israel's E1 Plan Explained: The Jerusalem-area Corridor Sparking International Backlash
(L-R) Palestinian Prime Minister Mohammad Mustafa, EU High Representative for Foreign Affairs and Security Policy Kaja Kallas, and Norwegian Foreign Minister Espen Barth Eide addressed the media following the 9th Global Alliance for the Two-State Solution Meeting and the Ad Hoc Liaison Committee (AHLC) Meeting, focusing on international aid for Palestinians and the revitalization of the peace process.

#west

Willing and Abel: Berkshire's New CEO Makes Huge Portfolio Changes in Q1
American Express raised its 2026 revenue-growth outlook toward 10% after reporting strong first-half trends, including 10% foreign-exchange-adjusted revenue growth, mid-teens EPS growth, 16% card-fee growth and double-digit net interest income growth.
The company plans to direct better-than-expected performance toward customer acquisition, technology and product development, while maintaining long-term aspirations of 10% revenue growth and mid-teens EPS growth.
International, travel and younger-cardmember growth remain key opportunities: international billings have risen about 50% in three years, travel spending is contributing to growth, and Millennials and Gen Z represent 65% of new accounts, with credit metrics remaining stable.
Capital One's Big Bet Faces Rising Credit Risk

#Growth #international #travel #makes

Former US CIA director David Petraeus was at a Ukrainian train station at the very moment a Russian drone struck a passenger train on Sunday, shortly after a diplomatic train carrying former UK Prime Minister Boris Johnson and other foreign dignitaries had passed through.
Kyiv framed the attack as evidence of the increased threat Russia's Vladimir Putin poses to Europe, with Ukraine's rail operator saying it was "quite likely" a targeted attack.
The diplomatic train carrying Johnson, European security officials and other former leaders from Kyiv to Poland had made an early departure from Yahodyn station –– about two kilometers (1.2 miles) from the Polish border –– due to the "constant threat of Russian strikes," said Ukrainian Railways. It had already crossed into Poland by the time of the attack.
Petraeus was traveling on a separate train which was still at Yahodyn station, a Ukrainian Railways statement said. CNN has reached out to Petraeus for comment.
The rail operator said that while it was still clarifying details, it is "quite likely" that the Russian drone could have deliberately targeted the officials' train.

#ukrainian #russian

On September 10, Adobe (NASDAQ:ADBE) posted record third-quarter revenue of $6.76 billion, up 13% year over year, and raised its full-year revenue and profit targets. Non-GAAP EPS climbed 15% to $6.13, while GAAP EPS rose 11% to $4.62. Buried inside those headline numbers was a sharper story: AI-first ending ARR topped $650 million, growing more than 150% year over year. The same call brought a leadership change, with Anil S. Chakravarthy set to take over as CEO from Shantanu Narayen on December 1. Investors got a lot to digest in one afternoon.
Adobe's AI tools are no longer just a demo. Firefly ending ARR, which spans the Firefly app and its credit packs, grew 40% quarter over quarter, and the Acrobat AI ******* istant doubled its monthly active users over the same three months. Total monthly active users across Adobe's businesses surpassed 1 billion in the quarter, up more than 20% year over year, and creative premium MAU crossed 100 million, up more than 70%. Business professionals and consumers MAU passed 900 million, up more than 25%. That kind of user growth, concentrated in free and freemium tiers, is what feeds the paid AI upgrades now showing up in ARR.
The company backed that growth with cash. Operating cash flow hit a third-quarter record of $2.52 billion, and Adobe bought back roughly 9.5 million shares during the quarter, leaving $24.55 billion still authorized for repurchases. Management raised its full-year revenue target to a range of $26.58 billion to $26.63 billion and its non-GAAP EPS target to $24.45 to $24.50. On the product side, Adobe struck a deal to acquire Topaz Labs, whose AI enhancement models for image and video work would slot directly into Firefly and Creative Cloud. Enterprise demand held up too, with ending ARR growing more than 20% year over year at each of Adobe Experience Manager, Adobe Gen Studio, and Adobe Experience Platform.
Not every metric moved as fast. Remaining performance obligations, the backlog of contracted but unrecognized revenue, grew 8% year over year to $22.16 billion, trailing both the 13% revenue growth and the 11.2% growth in total ending ARR. Current RPO grew 9%, also behind the topline. Interim CFO Steven Day flagged a separate issue heading into the fourth quarter: a foreign-exchange headwind that partly offset the benefit of the third-quarter beat when management updated its full-year guidance.
AI-first ARR, for all its 150% growth rate, is still just over $650 million against a total ARR base of $27.50 billion, so it remains a small slice of the business even as it scales. The transition arrives at a pivotal moment too, with Chakravarthy set to take the CEO seat on Dec. 1 just as the company leans harder into an unproven agentic-software strategy, and the Topaz Labs deal still needs to clear regulatory approval before it adds anything to the numbers.

#adobe #billion #million

Prince Harry might be back in the UK, but that doesn't mean he's returned to royal duties. In fact, both Harry and his father, King Charles, have made it clear that he is not a working royal and likely won't ever be again. Proof of that is that Harry was not invited to the funeral of Norway's King Harald.
William represented the British royal family and walked behind the monarch's coffin on Wednesday, September 9. He was accompanied by Princess Anne for the procession, which extended from the Royal Palace to Oslo Cathedral. Other foreign royals present included King Felipe VI and Queen Letizia of Spain, as well as King Carl XVI Gustaf and Queen Silvia of Sweden and King Frederik X and Queen Mary of Denmark.
More from StyleCaster
'Wounded' Harry Reportedly 'Blames' Charles for Devastating Business 'Withdrawal'-He Feels 'Injured'
William Reportedly 'Disturbed' by Harry's 'Vulgar' Act-It's a 'Betrayal'

#prince #harald

Vale S.A. (NYSE:VALE) is considering making its debut in China's domestic bond market as soon as this year, with CFO Marcelo Bacci saying the company is preparing for a potential Panda bond issuance. The move would be strategically significant because China accounts for roughly half of Vale's revenue, making renminbi financing a natural extension of its relationship with its largest market. Bloomberg reported that Vale is still ****** sing the market, including whether it can obtain a maturity longer than the typical two-, three-, or five-year terms available to international issuers.
The timing is also favorable for Vale because China's Panda bond market is expanding rapidly. Reuters reported that foreign issuers have increasingly turned to Asian bond markets to diversify funding sources, while Chinese yuan bond issuance has reached record levels in 2026. For Vale S.A. (NYSE:VALE), the potential transaction therefore looks less like a necessity for raising capital and more like an effort to diversify its investor base, potentially lower funding costs, and build a longer-term financing relationship with Chinese investors.
The strongest bullish argument is that Vale S.A. (NYSE:VALE) could potentially lower and diversify its cost of capital by accessing a large pool of Chinese investors at a time when renminbi funding remains relatively inexpensive. Reuters noted that Chinese onshore and offshore yuan bond markets have experienced record issuance this year, with foreign borrowers increasingly using these markets to diversify away from traditional funding currencies. If Vale can achieve competitive pricing, a Panda bond could provide an additional funding channel alongside its established dollar financing, reducing its dependence on a single market.
The move could also create a better natural match between Vale's revenues and its financing currency. Because China represents approximately half of Vale's revenue, raising at least some debt in renminbi could provide a degree of currency alignment with its Chinese business exposure. More importantly, establishing itself as a repeat issuer could strengthen Vale's relationships with Chinese banks and institutional investors, potentially giving it access to another source of capital when global dollar markets become less attractive.
There is also a broader strategic benefit. China is actively expanding the Panda bond market and encouraging international companies to use it. Official Chinese data showed that more than 160 billion yuan of Panda bonds were issued during the first half of 2026, up 69% year over year, demonstrating that the market is becoming more established and liquid. Vale entering this market could therefore position the company early in a growing financing ecosystem rather than waiting until it becomes more crowded.

#chinese #bond #panda #China

On August 13, a federal appeals court ruled in favor of Gilead Sciences, Inc. (NASDAQ:GILD), upholding a preliminary injunction that bars the defendants from importing or facilitating the sale of foreign-market Gilead-branded medications in the US. The US Court of Appeals for the Fourth Circuit found that the differences between Gilead's HIV medication for the US market and the foreign versions being imported were "material, not theoretical." The controversy began in December 2024 when Gilead Sciences, Inc. (NASDAQ:GILD) filed suit against a number of companies, including third-party administrator Meritain Health, pharmacy benefit manager ProAct, and pharmacies Rx Valet and Advanced Pharmacy, alleging illegal imports of its best-selling HIV drug Biktarvy.
The dispute dates back to December 2024, when Gilead Sciences, Inc. (NASDAQ:GILD) sued a group of companies, including third-party administrator Meritain Health, pharmacy benefit manager ProAct, and pharmacies Rx Valet and Advanced Pharmacy, alleging illegal imports of its top-selling HIV drug Biktarvy. The lawsuit arose from a specific instance in which a patient in Maryland received the medicine in the mail from Turkey, with label instructions written in Turkish.
A federal district court in Baltimore ruled in Gilead's favor and ordered a preliminary injunction, determining that the company was likely to succeed on its Lanham Act trademark violation and unfair competition arguments. As the case continued, the injunction was increased to include new sellers like CanaRx, ElectRx, and ScriptSourcing. The defendants filed an appeal with the Fourth Circuit, and the district judge declined to suspend the injunction while the appeal was pending, thus the import restriction has been in effect the entire time. The recent ruling maintains the order rather than overturning it.
In court documents, Rx Valet stated that the Turkish-sourced Biktarvy was chemically identical to the US version, which was offered at a significantly higher price. Meritain, for its part, said that it has never supported getting non-FDA-approved pharmaceuticals from outside the US and denies the claims, despite being named as a defendant.
The Fourth Circuit rejected the defendants' main argument that the imported and domestic versions of Biktarvy are interchangeable. The court's judgment that the two versions differ materially, not just in packaging or labeling, but also in the quality-control protocols that each version goes through before reaching a patient, challenges the basic argument that these alternative funding programs have used to support their business model.

#gild

By Susan Heavey
WASHINGTON, Sept 10 (Reuters) - The Trump administration has proposed eliminating a 60-day grace period that allows certain immigrants, including skilled workers on H-1B visas, to stay in the United States and find a new sponsor after losing ‌their job, according to a government notice posted online on Thursday.
Under the planned rule change, published in the Federal ‌Register by the U.S. Department of Homeland Security, those with H-1B and certain other temporary work visas would have to leave the country as soon as their employment ends — a potential blow to top American tech companies that rely heavily on foreign workers.
It is the latest step by U.S. President Donald Trump to limit legal immigration since returning to office in January 2025. His administration has also introduced higher visa fees for skilled workers and recently paused immigrant visa appointments at U.S. missions globally while it implements a new training program.
Companies affected by the change could see some disruption, ‌DHS wrote in its proposal, but it said ⁠the jobs could go to American workers instead. In some situations, immigrant workers who leave could potentially reapply if their employer petitions for them, it added.

#Companies #administration #skilled #visas

TikTok creator molly.rutter posted a video describing her highly anticipated first date with a foreign student that, since its publication, has drawn over 15 million views and generated over 7300 comments. Molly appeared excited on her way to the date and said she liked him when they met in person. But by the end of the date, she said things had taken a different turn.
At the beginning of the video, Molly filmed herself on her way to meet her date and said she was excited to see him. She said he was from India and that it was his first time in the United States. She added that he attended a university in Buffalo, New York, where he studied artificial intelligence.
Molly said they had spoken on the phone before meeting and that she found him attractive from their initial conversation. This seemed to add to her excitement. Because he was still getting familiar with Buffalo, she said she planned to take him to one of her favorite food spots in the city.
Shortly after their date began, she gave an update on how it was going. She described him as "Absolutely adorable" and said that she found him physically appealing. Molly also said that she detected some shyness from her date, which only made her more fond of him.
As the night progressed, she was all smiles and said they had already planned a second date. However, she was a bit disappointed when he initially said he couldn't go to a second location because he had classes the next morning. She decided to meet up with her friend after the date.

#second

By Aditya Kalra
NEW DELHI, Sept 9 (Reuters) - India's Serious Fraud Office has recommended Xiaomi be investigated for alleged irregularities in its business model and compliance with foreign investment law, potentially intensifying scrutiny of the smartphone maker, a government document shows.
China's Xiaomi was once India's top-selling smartphone brand but has seen its market share dwindle amid intense competition from Apple ‌and Samsung. It is also battling several tax demands and royalty payment disputes.
The recommendation from India's Serious Fraud Investigation Office (SFIO) said the investigation should examine movement of funds and whether Xiaomi sought ‌mandatory investment approvals as required after India tightened scrutiny of Chinese investments following deadly border clashes between the two nations in 2020.
A person familiar with the matter said the government is examining the memorandum, which was drafted in May and reviewed by Reuters.

#serious #fraud #investigation #investment

Iran is increasingly using cryptocurrencies to settle cross-border trade as the country faces intensifying U.S. sanctions and a naval blockade, the Financial Times reported on Sep. 8.
A cryptocurrency is a digital currency that runs on a blockchain, a shared public ledger, allowing money to move across borders without passing through the traditional banking system.
The country's central bank has in recent months quietly eased its strict foreign currency controls, encouraging businesses to bring funds back into the country through whatever channels are available, including crypto exchanges that handle Tether's USDT and Bitcoin (BTC), citing regime insiders, business executives and **** ysts, the report said.
Tether's USDT is a stablecoin, a type of cryptocurrency designed to hold a steady value against the U.S. dollar, making it useful for trade settlements.
Bitcoin is the world's first and largest decentralized cryptocurrency which has seen a wild appreciation in its value since its launch in 2009.

#trade #Iran

In recent months, U.S. Treasury Secretary Scott Bessent has not been afraid to intervene in the bond or foreign exchange markets.
In early August, the Treasury executed a coordinated purchase of **** anese yen with **** an's Ministry of Finance to strengthen the yen, which had been losing ground to the U.S. dollar.
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The Treasury also plans to repurchase as much as $6 billion of longer-dated Treasuries at its next operation on Sept. 10, triple the normal amount, in an attempt to curb Treasury yields. While the moves have received their fair share of criticism, Bessent seems to have no plans to back down.
"... I am the house now," said Bessent, during a speech in front of Southern Methodist University's business school on Sept. 8. "So when we intervene with the **** anese yen, I have pretty good insight what the **** anese, what the Bank of **** an is going to do, what **** anese policymakers are going to do. Bet against me if you want."

#flashing #down

WASHINGTON (AP) — Donald Trump's pitch to send Americans $5,000 checks should Republicans prevail in the November midterms is drawing scorn from some members of Congress — the very people who have constitutional authority over federal spending.
Economists and other political observers are voicing concerns about the potential effects on inflation and the national balance sheet. Taken together, it's a swift reaction that makes clear that Trump's dubious election-year gambit is likely little more than another grand promise from a politician with a long history of them.
"Donald Trump is a known liar. This is the biggest liar to ever serve in government. Period," said Rep. Robert Garcia, a California Democrat who was in Dallas on Thursday as part of his party's effort to counter Republicans' midterm convention. "The dividend is not happening."
Trump previously pledged to use savings from the Department of Government Efficiency and revenue from tariffs on foreign imports to distribute payments of $2,000 or more, but none of that came to pass.
His latest idea comes as the U.S. economy is reckoning with persistent inflation and rising interest rates, two forces that have politically undermined Republicans after previously helping them reclaim power from Democrats. Trump claimed the payments would be possible because of the economy's strength, yet consumer sentiment is weak as gasoline prices are increasing because of the war with Iran and wages are struggling to keep pace with inflation.

#inflation

The move represents a sharp reversal from the yen's weakness earlier in the summer, when the USD/JPY approached 165 and forced **** anese authorities to intervene in the foreign-exchange market.
The latest appreciation is increasingly being driven by expectations that the Bank of **** an (BoJ) is preparing to raise interest rates at its September meeting, while investors are also reassessing the outlook for US monetary policy. The BoJ is scheduled to meet next Thursday and Friday, with markets now pricing in a high probability of a 25-basis-point increase. More importantly, investors will be looking for guidance on whether the central bank could accelerate the pace of subsequent tightening.
U.S. consumer-price data due on Friday will provide an important signal ahead of the Federal Reserve's September 15-16 meeting. The inflation figures have become particularly significant because the Fed's policy outlook remains unusually divided. Governor Christopher Waller has indicated that he could support keeping rates unchanged if inflation continues to moderate, while Fed Chair Kevin Warsh has stressed that insufficient progress on inflation could warrant tighter policy.
From a technical perspective, the weekly chart points to a clear deterioration in the USD/JPY trend. The pair has broken below its ascending trend structure and is trading beneath both the Tenkan-sen and Kijun-sen lines of the Ichimoku Cloud index. This suggests that the medium-term bullish structure has weakened. The weekly RSI has also fallen below the neutral 50 threshold and is moving lower, indicating that bearish momentum is becoming more established.
The fundamental backdrop is becoming increasingly challenging for the USD/JPY bulls because the interest-rate differential that supported the yen carry trade for years is gradually narrowing.

#Friday #rates

Chinese independent refiners may be about to start reducing their processing rates as international oil prices rise and supply from major exporters such as Venezuela and Iran dries up as a result of U.S. foreign policy decisions.
"Teapots are unlikely to be able to afford a full shift to mainstream grades," an Energy Aspects ***** yst said this week, as quoted by Bloomberg. The so-called teapots are more sensitive to adverse oil market changes due to their refining margins being slimmer than those of state-owned majors. These margins have already fallen to breakeven, from around $10 per barrel in early July, Jianan Sun also said.
China imported 37.93 million tons, or 8.93 million barrels per day of crude oil in August, up by 6.2% compared to July, and further recovering from the decade-low seen in June, official Chinese customs data showed on Tuesday. The August import level was still 23.4% lower compared to the same month last year, but it's a marked improvement from the June lows of just 7.1 million bpd.
China slashed its total crude oil imports to a decade low in June, culminating three months of very low import levels amid high prices and constrained supply from the Middle East. This affected refinery output, which in turn contributed to the global fuel squeeze that is now set to deepen and extend in time as fighting in the Middle East continues and intensifies, pushing oil prices higher and sapping some refiners' appetite for the commodity.
With Venezuelan and Iranian crude all but gone, Chinese refiners will probably lean more heavily on Russian crude in the coming weeks. However, Russian crude prices are also on the rise on the futures market, in tune with all the other blends that trade internationally, which will likely put a lid on demand.

#june #july #China #middle

Apple Inc. (NASDAQ:AAPL) raised the price of Apple TV in the U.S. to $14.99 a month from $12.99 and increased the individual Apple One bundle to $21.95 a month from $19.95, CNBC reported.
Apple TV launched in 2019 at $4.99 a month and has since added significant content, including the film "F1" and a fourth season of "Ted Lasso." The move follows a $1-a-month increase to Apple Music in July, which Apple attributed to licensing costs. Apple reported $30.7 billion in services revenue for its fiscal third quarter, up 12% year over year. The segment's gross margin fell more than a percentage point sequentially, which the company blamed on product mix and foreign exchange headwinds.
The higher price shows a genuinely larger content library, not just a margin grab. Apple TV launched with limited programming at $4.99 a month. It now includes award-winning originals like "Severance" and blockbuster films like "F1" and gives Apple a stronger case that the price increase tracks real value added rather than outpacing what subscribers get.
Apple Inc. (NASDAQ:AAPL) is raising prices in step with the rest of the industry, not standing out as an outlier. Netflix, Hulu, Disney+, and Peacock have all raised their own prices recently, reducing the competitive and reputational risk that price-sensitive subscribers abandon Apple TV specifically for a cheaper alternative.
Services remains a genuine growth engine with real momentum behind it. Revenue in the segment grew 12% to $30.7 billion in the fiscal third quarter, and price increases across Apple TV, Apple Music, and Apple One bundles all flow directly into that high-margin, recurring revenue line, reinforcing one of Apple's most valuable businesses beyond hardware sales.

#Margin #aapl #Services

Since Liga MX Femenil was established in 2017, the league has attracted a growing number of high profile players from abroad. Here are five international stars in Liga MX Femenil who have made an impact on Mexican women's football.
Interestingly, Liga MX Femenil increased its limit for foreign players from two per club in 2021 to five in 2024, and then to seven starting in 2025. The change reflects growing international interest in playing in Mexico.
One of the biggest names in Spanish football, Jenni Hermoso made history by signing with Pachuca in 2022 in an unprecedented, high profile move.
Hermoso became a World Cup champion with Spain in 2023 while playing for Pachuca. She later moved to Tigres before continuing her career in Mexico and abroad.
Embed from Getty Images

#liga #profile #abroad