The Iran War Is Reshaping Global Aviation
Lufthansa, BA, Delta face a challenge to capitalize on the upheaval For years, airlines in the US and Europe have gawked at the rise of Middle East carriers funneling ever more passengers through their gleaming hubs in Dubai and Doha at competitive prices with the...
Anthropic Surges Past OpenAI in Private Markets as SpaceX IPO Looms
Anthropic shares now trade more actively than OpenAI on secondary markets, per Rainmaker Securities president Glen Anderson in exclusive comments to TechCrunch The secondary market for private shares is experiencing unprecedented activity, signaling major investor...
It May Take a Year to Restore Abu Dhabi Aluminum Output, EGA Says
The Middle East’s biggest aluminum producer said it may take as long as a year to restore full output at its Abu Dhabi plant, following an Iranian attack a week ago. Emirates Global Aluminium said the Al Taweelah smelter went into emergency shutdown, after suffering...
Blue Owl Reels as Investors Who Fueled Its Growth Now Want Out
The top-line numbers from Blue Owl Capital Inc.’s funds were unambiguous and, by just about any measure, ugly. Investors sought to cash in more than 20% of shares from its flagship $36 billion private credit fund. Its smaller, tech-focused vehicle saw redemption...
First Prediction Market Note Offers Nvidia Bets With Less Risk
Investors who like the binary bets on Kalshi and Polymarket but without the all-or-nothing risk are being offered an unlikely new asset: a bond-like note tied to prediction market outcomes. London-based Marex Group Plc created and sold the first instance of this new...
Private Credit’s CLO Machine Ramps Up in Push to Raise More Cash
Faced with a wave of redemptions and market turmoil, the private credit industry is leaning into a classic Wall Street maneuver: securitization. Private credit firms are issuing collateralized loan obligations at a near record pace, despite unease over a potential...
Private Credit’s Implosion
President Donald Trump’s speech last night about Iran did little to change the current market dynamic. That will change in time. But the real challenge to market indexes goes beyond rising oil prices. In the background, the festering pool of bad private credit deals...
Singapore Reports First Domestic Spread of Mutated Mpox Strain
Singapore said a mutated monkeypox strain has spread locally for the first time, marking a new emergence of the potentially deadly virus in Asia while it continues to spread through Africa. Two men aged 30 and 34 are in stable condition after “likely being infected...
OpenAI Is Falling Out of Favor With Secondary Buyers
OpenAI shares have fallen out of favor on the secondary market — in some cases becoming almost impossible to unload — as investors pivot quickly to Anthropic, its biggest competitor. Even as OpenAI raced in recent months to raise tens of billions of dollars, Next...
Top Gulf Aluminum Producer EGA Halted Output After Iran Strike
Emirates Global Aluminium, the Middle East’s top producer of the metal, halted operations at its Al Taweelah smelter after the site was struck by Iranian missiles and drones over the weekend, according to a person familiar with the matter. The smelter on the outskirts...
London’s Family Offices Drew Mideast Money as Non-Doms Fled
London’s unsettled family office economy has drawn rising investment from wealthy Middle Eastern families in the past 18 months, providing a boost as other rich investors pull back. Firms managing multi-billion-dollar fortunes from the United Arab Emirates to Saudi...
Nike Plummets to Lowest in Decade as Turnaround Sputters
Nike Inc. shares tumbled after the retailer gave a surprisingly gloomy outlook for the year ahead, complicating Chief Executive Officer Elliott Hill’s efforts to turn around the business. Revenue is expected to decline 2% to 4% in the current quarter and will be down...
‘Who Pays for All This?’: Citi Rates Boss Flags Lasting War Cost
Deirdre Dunn has been reading up about fertilizer markets. Since the US attacks on Iran began roiling oil markets, the Citigroup Inc. rates-trading chief has been looking to other commodities to monitor the knock-on effects of the military action on inflation and how...
Walking away from the Strait of Hormuz won’t make gas cheap again
The world economy is being held hostage by the de facto closure of the Strait of Hormuz. Gasoline, jet fuel and diesel prices have skyrocketed. Stock markets have tumbled, and recession odds have climbed. After weeks of trying and failing to reopen the critical...