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9/10
12:07
A journalist's estimate reveals that Europe loses approximately €50 billion each year to carousel VAT fraud, also known as missing trader intra-community (MTIC) fraud. This figure surpasses HSBC's $22 billion net income for fiscal year 2025. Author Oliver Bullough noted on a Bloomberg podcast that this type of fraud has no earnings ceiling, incentivizing criminal gangs to collaborate for larger and more elaborate schemes. The fraud involves importing products zero-rated for VAT, selling them to a shell company within the EU with VAT charged, then exporting the goods and reclaiming VAT from the treasury, while the initial trader disappears without remitting the VAT. HSBC is mentioned solely as a scale benchmark and is not suggested to be involved in the fraud.
12:07
Airbnb CEO Brian Chesky, in an interview at the Goldman Sachs Communacopia + Technology Conference, stated that AI is not "inherently good or bad," and its potential lies in human hands. He likened AI to nuclear energy, saying it "can both light up cities and destroy them," and proposed that AI is a "cognitive revolution" that humanity should advance with, riding this wave of technology.
12:07
Robert Kiyosaki, author of "Rich Dad Poor Dad," stated that his $1.2 billion debt is part of his wealth accumulation strategy, aimed at leveraging investments that generate cash flow. His ex-wife and long-time business partner, Kim Kiyosaki, clarified that this debt is not personally owned by Robert but is associated with a portfolio of approximately 1,500 apartment units held by a group of real estate investors, with their personal liability significantly limited through legal arrangements. Kiyosaki advocates using "good debt" to expand income and opposes traditional financial advice to "live within your means." Wealth advisors have noted that Kiyosaki's strategy was highly effective during specific periods of low interest rates in the past, but replicating it has become more challenging in the current environment of high housing prices and high interest rates.
12:06
Biohaven (BHVN) stock plummeted Thursday after the company paused enrollment in a midstage study of its seizure treatment opakalim due to safety concerns. The Food and Drug Administration (FDA) is now requiring Biohaven to assess the potential for human toxicity from a metabolite in the drug, which is in testing for focal onset seizures, after issues were observed in rats.
12:06
Associated British Foods (ABF) shares fell over 9% after its latest trading update showed another weak quarter for Primark in continental Europe, with like-for-like sales expected to decline 3% in the fourth quarter. The group's sugar division faces a sharply deteriorating outlook, with an adjusted operating loss expected towards the upper end of £25 million to £60 million this year, potentially worsening to between £70 million and £170 million in 2027. Amidst this, Primark confirmed plans to offer home delivery in Great Britain, acquiring Debenhams Group's Sheffield fulfillment facility for £90 million, though no launch date has been given.
12:06
A group of lenders led by State Bank of India agreed to provide about $3.5 billion of debt financing to Indian mobile telephone operator Vodafone Idea Ltd. to help it rebuild its business, people familiar with the matter said.
12:06
Norwegian deepwater driller Odfjell Drilling has received a letter of award from Vår Energi for the Deepsea Bergen rig, with an estimated contract value of $518 million (Nkr4.81 billion). The three-year contract is expected to begin in early 2028, extending Deepsea Bergen's firm contract backlog to the first quarter of 2031. The value includes mobilisation fees but excludes annual escalation, integrated services, performance bonuses, and fuel incentives. Odfjell Drilling CEO Kjetil Gjersdal expressed delight, highlighting the long-term partnership and the rig's capability to deliver world-class operational performances.
12:05
The report highlights that private credit has evolved into a major source of financing for energy and infrastructure projects, as banks retreat from long-dated and complex loans. It notes that artificial intelligence is creating a significant opportunity, with over $1 trillion in U.S. AI-related infrastructure investment estimated over the next five years, encompassing data centers, power generation, and grid infrastructure.
12:05
Dell Technologies reported its second-quarter AI server orders reached $61 billion, significantly up from $24 billion in Q1. The company's AI backlog has now grown to $95 billion, compared to $51.3 billion last quarter. Total revenue for Q2 climbed 58% to a record $47 billion, and adjusted earnings per share were $7.04, exceeding analyst estimates. Dell also raised its full-year growth forecast to around 70%.
12:05
AT&T executives, including CFO Pascal Desroches and EVP Melissa Arnoldi, stated at a Citi event that the company's multiyear investment strategy has strengthened its network assets and reduced leverage. They highlighted renewed momentum in business connectivity, with advanced-connectivity revenue growing nearly 2% year-over-year in Q2. The company is targeting AI workloads, investing in 400-gigabit capacity, and plans to return about 100% of free cash flow to shareholders.
12:05
Canada's ADF Group (TSE:DRX) anticipates full-year capital expenditures to slightly exceed C$40 million, including expansion plans in Quebec and Montana. Although the company does not expect to be directly impacted by the latest 50% US tariffs, higher steel costs and tariff-related expenses are putting pressure on its profit margins.
12:05
ADF Group Inc. (TSE:DRX) reported a record combined order backlog of C$693.7 million at the end of the second quarter, along with C$91.4 million in cash and cash equivalents, partly boosted by a C$25 million inflow from a client claim settlement.
12:05
Canadian steel structure manufacturer ADF Group (TSE:DRX) announced its second-quarter earnings for the period ending July 31, with revenue increasing year-over-year to C$95 million, adjusted EBITDA rising to C$8.4 million, and net profit reaching C$3 million. First-half revenue grew 79% to C$194.3 million, with a net profit of C$15 million, primarily driven by increased manufacturing activity, customer claim settlements, and a record order backlog.
12:04
Cummins' stock price has surged 42% over the past 12 months, driven by robust growth in its AI data center power solutions business, which is expected to continue benefiting from the escalating demand for data center electricity.

The company reported record-high revenue of $9.5 billion in Q2 2026 and raised its full-year revenue guidance, projecting a 10% to 13% increase. Goldman Sachs anticipates that U.S. data center power demand will rise from 31 gigawatts in 2025 to 66 gigawatts by 2027. Analysts have a median price target of $782 for Cummins' stock over the next 12 months, representing an upside of approximately 40% from its September 4 closing price of $560.75.
12:03
Michael Burry, founder of Scion Asset Management and famed for "The Big Short," reduced his risk exposure in September by closing out NVIDIA (NVDA) put options expiring in December 2026. He did not roll them into later contracts, directly reducing his most prominent AI short bet. Burry stated that this move was due to rapid time decay and NVIDIA's continued stock price increase, which is up 19% year-to-date.

Despite this, Burry still holds put options on Palantir (PLTR) and Invesco QQQ Trust (QQQ) expiring in 2027, and stated that this move should not be interpreted as an optimistic signal, as his AI short thesis remains intact.
12:03
CME Group, the world's leading derivatives marketplace, today announced it will launch CME Securities Clearing Inc. on December 7. The new SEC-registered clearing house will operate alongside CME Group's existing cross-margining partnership with FICC, aiming to expand clearing capacity, choice, and capital efficiency in the U.S. Treasury market.
12:03
MarketWatch suggests that these mandates, particularly in "blue states," are a primary cause of higher electricity bills, directly exacerbating the cost-of-living crisis.
12:03
Cathie Wood's ARK Invest bought 43,091 shares of Meta Platforms (NASDAQ:META) worth approximately $27.9 million, while selling 84,392 Alphabet (NASDAQ:GOOG) shares valued at about $27.8 million. This portfolio adjustment comes as Meta has rallied 14% over the past three months and Alphabet has fallen almost 8%, prompting analysts to question if the firm is buying high and selling low. Meta's recent EPS missed estimates, with costs surging 55% and free cash flow collapsing, while Alphabet's Google Cloud posted 82% year-over-year revenue growth.
12:03
24/7 Wall St. analysts initiated coverage on Broadcom (NASDAQ:AVGO) with a “Buy” rating and a $426.47 price target, implying 17.2% upside from its current close. The firm projects Broadcom could become one of the world’s most valuable tech companies, driven by its surging AI semiconductor revenue. Broadcom’s AI semiconductor revenue soared 221% year-over-year to $16.7 billion in Q3 FY2026, contributing to an 85.5% overall revenue increase to $29.59 billion. Management forecasts AI semiconductor revenue to reach approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, backed by multi-year custom chip deals with major AI labs including Google, Meta, OpenAI, and Anthropic.
12:03
★★★★★Previous -1.17Forecast -1.4Actual 1.27 Above forecast↑
12:02
The Trump administration has proposed eliminating a 60-day grace period that allows H-1B and certain other temporary work visa holders to remain in the U.S. and find a new sponsor after losing their job. Under the planned rule change, published by the U.S. Department of Homeland Security, affected workers would have to leave the country as soon as their employment ends. This move could significantly impact American tech companies that heavily rely on foreign skilled workers, as it sharply compresses the timeline for HR teams to manage layoffs and offboarding for foreign national employees.
12:02
Private equity firms Centre Partners and Altivare Capital Partners have jointly acquired Navajo Expedited, a third-party logistics (3PL) provider specializing in time-sensitive and temperature-controlled truckload transportation. The acquisition aims to accelerate Navajo Expedited's growth, expand its technology platform, and pursue complementary acquisitions in the freight brokerage sector. Financial terms of the transaction were not disclosed. Analysts note this deal highlights a growing trend of consolidation in the freight brokerage industry.
12:01
NVIDIA announced in its Q2 FY2027 earnings report that it will pay a cash dividend of $0.25 per share on October 1 to all shareholders of record as of September 10. This marks the second consecutive quarter NVIDIA has paid a dividend of $0.25 per share, representing a 2400% increase from the previous quarterly payout of $0.01 per share.
12:01
Morgan Stanley analyst Brian Nowak projects Meta Platforms (NASDAQ:META) shares to reach $815 by year-end 2026, implying a 25% gain from current levels and comfortably above Street consensus. Nowak attributes this bullish outlook to AI-driven ad gains, citing a 14% impression surge and an 8% click lift. However, he notes the primary risk is Meta's heavy AI capital expenditure, which has compressed free cash flow from $8.55 billion to $784 million.
12:01
Armstrong believes Bitcoin could reach this level due to several factors: its adherence to a roughly four-year market cycle, with the current downturn's bottom likely already in around $60,000; potential institutional capital unlock if the CLARITY Act provides clearer regulatory rules; increasing government spending pushing investors towards scarce assets like Bitcoin (digital gold); the GENIUS Act making regulated stablecoins structural buyers of U.S. government debt; and historical price increases ahead of the next Bitcoin halving, expected in 2028.
12:01
Chile will allow local pension funds (AFPs) to participate in repurchase and reverse repurchase agreements for the first time, a move aimed at improving their liquidity management, reducing costs, and boosting trading volumes in an inactive segment of the Latin American debt market.

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