CMR is the leading provider
of funding and management
support for small to
medium-sized businesses and
entrepreneurs
Established 1984 C MR
is the leading venture
capital, management
support and business
services provider for
small to medium-sized
businesses - linking
excellent management
skills with the
substantial financial
resources of a global bank
of private investors.
CMR has over 450 senior
executives, operating
in the UK, USA, Europe, Asia,
Australasia and
globally,
providing both funding and
specialist help for
entrepreneurial
businesses .
For Businesses
CMR provides excellent
resources:
CMR FundEX Business Exchange - gives all companies & entrepreneurs direct access to CMR's global investor base.
CMR Catalyst Group
Programme -
transform
profitability through
merging.
CMR Company Sales Division helps owners to exit
at the best price.
CMR Corporate Recovery
Division -
experts in rescue and
turnaround.
CMR Technology Licensing
Division -
commercialising
innovation.
CMR Executive
Professionals - management support
and consultancy.
CMR Executives-on-Demandâ„¢ Fully experienced
senior executives
available quickly and
cost effectively.
We always welcome
contact with new
business clients- please get in touch
- we will do our
best to match
your needs and exceed
your expectations.
For Investors
Preferential access to new opportunities for investment and/or acquisition
P re-vets
propositions and
provides a
personalised service
to our investors
Syndication service
enabling investors to
link together as desired
Executive and
management support for
investments as needed
CMR's services to
our investors are not
only fast & efficient
but also free
W e
always appreciate new
members- you are welcome
to join as an investor
or as a CMR Executive.
When you
join us as a Senior
Executive:
CMR's strength is in the
skills and experience of
our executive members -
all senior, director level
people with years of
successfully running and
managing companies.
Because the demand for
CMR's support and services
is ever-increasing,
especially as we enter
recessionary times, we
have a growing need for
more high calibre
executives to join us from
every industry and
discipline.
You will be using your
considerable experience to
help smaller businesses
and entrepreneurs to grow
profitably.
We offer full training
and mentoring support to
help maximise potential.
We are
always keen to find more
high calibre senior
executives in all areas-
skills and location.
Make contact with us today
and maximise your
opportunities.
HEAD
OFFICE
124 City Road
London EC1 2NX
Tel: +44 (0)207-636-1744
Fax:+44 (0)207-636-5639
Email: cmr@cmruk.com
Registered Office:
124 City Road ,
London EC1 2NX
Also Glasgow,
Dublin, Switzerland, Europe, USA/Canada
Privacy Statement: CMR only
retains personal details
supplied directly by executives
joining CMR themselves either as
Full Executive Members or
Interim Management Members or
Investors. Those details are
only used within CMR and not
disclosed to any third parties
without that person’s
agreement. We will keep that
data until requested by the
person to be removed – at that
point it will be deleted.
Personal data is never sold or
used for purposes outside of
CMR’s normal operations. Any
correspondence should be
directed to the Managing
Director, CMR,
Kemp House,
152-160 City Road, London EC1V
2N
Senior Executives
CMR is a worldwide network of senior executives. Join us to expand your career and business horizons.
Business Entrepreneurs
CMR has a complete range of resources & services provided by experts to help all businesses to grow and prosper.
Investors & Venturers
CMR has a continuous stream of business and funding propositions, which are matched to investor preferences. Join us - it's FREE!
FundEX
FundEX is CMR's worldwide stock market for small to medium sized companies and entrepreneurs to raise new capital.
Interim & Permanent Management
Many of CMR's executives can be recruited on an interim, permanent or NED basis.
Login
Main CMR Intranet members only
Regional Intranets
Fri, 14 Aug 2026 13:00:00 +0000 Bessent: US Readies Economic Isolation Of Iran "Like The World Has Never Seen Before"
Bessent: US Readies Economic Isolation Of Iran "Like The World Has Never Seen Before"
Treasury Secretary Scott Bessent told Newsmax Thursday night that the Trump administration will announce unprecedented economic measures against
Read more.....
Bessent: US Readies Economic Isolation Of Iran "Like The World Has Never Seen Before"
Treasury Secretary Scott Bessent told Newsmax Thursday night that the Trump administration will announce unprecedented economic measures against Iran next week, signaling that a sharp escalation in economic warfare is just ahead as negotiations to reopen the Strait of Hormuz remain stalled. The warning comes as Tehran-linked Houthi rebel forces resume attacks on Saudi Aramco energy infrastructure, raising concerns that the conflict is spreading geographically and pushing Brent crude futures higher.
Bessent told Rob Schmitt of Newsmax:
And, you know, at the president's orders, we have raised the level even again, and watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country. And I think the reason we are succeeding is because it is a one-two punch.
People say, well, you know, Cuba lasted a long time. Venezuela lasted a long time. Venezuela immediately crumbled when we put the blockade on. So, it will be a combination of economic isolation like the world has never seen before and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports.
Watch Bessent
By the midpoint of this week, we explained that, with US-Iran talks stalled, President Trump was more than likely to "opt for economic siege warfare, as the US military campaign is on hold ."
Trump recently told Axios that he is "low-keying it" with Iran. "We are just watching Iran with its huge inflation and the fact they have no money," he said.
Washington has imposed roughly 2,200 sanctions-related designations on Tehran since 2018, according to Jeremy Paner, a partner at Hughes Hubbard & Reed who tracks Iran's energy industry. The scale of the existing sanctions architecture underscores the challenge facing the Trump administration as it seeks to exert additional leverage on Tehran.
"If 47 years of sanctions haven't broken Tehran's will, more of the same is unlikely to produce any changes," according to a Bloomberg Economics report led by Jennifer Welch. She noted that the most likely scenario is that Trump stays on the same path as before, maintaining sanctions and the blockade.
The Trump administration's accelerated pivot toward economic warfare, rather than renewed strikes on Iran's missile and drone capabilities along the Hormuz chokepoint or an operation against Kharg Island, likely reflects growing concern over the "perfect storm" developing in refined-products markets. With the global diesel crisis intensifying and crack spreads approaching $100 level, further strikes risk triggering a severe supply shock to the fuel that powers global industries. It would also be a political disaster if gasoline and diesel prices at US pumps soared even higher with just 81 days left until the midterm elections (read diesel crisis report ).
Tyler Durden Fri, 08/14/2026 - 09:00 Close Fri, 14 Aug 2026 12:45:00 +0000 Farage Crushes Clacton By-Election With 63% As Comedy Candidates Dominate Longest Ballot In British History
Farage Crushes Clacton By-Election With 63% As Comedy Candidates Dominate Longest Ballot In British History
Nigel Farage has romped to victory in the Clacton by-election with 63.3% of the vote, seeing off 33 rivals including
Read more.....
Farage Crushes Clacton By-Election With 63% As Comedy Candidates Dominate Longest Ballot In British History
Nigel Farage has romped to victory in the Clacton by-election with 63.3% of the vote, seeing off 33 rivals including Count Binface, who won a quarter of the votes cast, on the longest ballot paper in British electoral history.
The Reform UK leader secured victory with 22,239 votes, which was 63.3% of the total vote and an increase on the 21,225 votes he secured when he was elected to the Essex seat at the 2024 General Election.
Count Binface, a comedian standing as a 5,900-year-old space warrior whose key policy was to freeze the price of ice cream in Clacton at 99p, was second with 9,455 votes, 26.9% of the total vote.
Mr Farage had triggered the poll and cast it as a ‘people vs the Establishment’ contest amid mounting questions over a £5 million donation from cryptocurrency tycoon Christopher Harborne.
However, a parliamentary inquiry into Mr Harborne’s donation has yet to conclude, and Mr Farage could still face another by-election within months if he is found to have broken House of Commons rules. He is expected to be interviewed by a standards watchdog within weeks of MPs returning to Westminster after their summer break.
The Reform leader, 62, declared himself the winner of the Clacton by-election in the early hours of Friday morning while ballot papers were still being counted. He then took the unprecedented step of skipping the formal result declaration, with his party claiming police had advised him to stay away due to a ‘credible threat’.
But, as Mark Angelides reports for LibertyNation.com, none of the big parties fielding a contender, what remains is who wins the narrative war.
Farage Stands Down to Step Up
The election was triggered by Farage resigning his seat last month. He did so voluntarily because of mounting stories over his financial situation, including donations and gifts he had received before running for Parliament. His argument was that it should be the voters of Clacton who decide his political fate rather than a scrutiny committee.
To be abundantly clear, Mr. Farage receiving a gift of £5 million is not illegal. Not declaring it is a breach of protocol because it occurred within 12 months of him running for office. With his return to the House of Commons, the internal investigation will continue. But what is the likely outcome? And what punishment – if any – is likely to befall the veteran campaigner?
If he is found to have broken the rules, the committee could suspend him from the House for a short period. In such a case, there is a possibility of a recall petition that would trigger a fresh by-election – which poses a conundrum. The purpose of such a contest would be to determine whether his Clacton constituency still had faith in him to be its Member of Parliament. This question was put to bed yesterday with Farage increasing his vote count and share compared with the 2024 general election.
And crucially, Nigel will have spent the last six weeks in his constituency gathering data. If he ends up having to fight yet another election, he will have up-to-date major information which other parties do not have access to. When it comes to campaigning, the data advantage cannot be underestimated.
But, as ever, the knives are out for Nigel Farage.
Establishment Closes Ranks
Former Prime Minister Keir Starmer, before his ousting, described Farage’s Reform Party as a threat to the nation. This is echoed across the myriad parties that make up British Parliament. In other recent by-elections, we have seen parties run what can best be described as paper candidates to unite around any party other than Reform.
The dominant narrative from the more established party leaders is that although they refused to stand a candidate in this “stunt” election triggered by Farage, they would certainly stand one in the potential next contest after the results of the scrutiny committee are released. But it is more than reasonable to argue that the other parties did engage in yesterday’s election. Conservative Party leader Kemi Badenoch posted on social media that voters should support “the Bin,” a reference to a parody candidate, “Count Binface,” who wears a trashcan on his head and a shiny “spacesuit.” By tacitly backing any competitor – even a joke contender – the party essentially threw its hat in the ring. Notably, Count Binface came second with almost 27%.
A Political Parallel
The current mantra is that Nigel Farage has triggered an unnecessary election that has cost taxpayers roughly £250,000 and was an affront to voters. And yet the same voices uttered no such displeasure when now-PM Andy Burnham was the beneficiary of a palace coup through a similar mechanism earlier this year.
With around 24,000 votes from one of the Labour Party’s safest seats, Mr. Burnham was drafted into Parliament and installed as leader and PM without a general election or even a vote by the party members. For those who do not support Labour, there is the mild stench of hypocrisy.
Both politicians foisted a by-election on the British public to better secure their positions. One did so to retain his position, the other to gain advancement.
Where is Reform Now?
Mr. Farage’s Reform Party has dominated polling for the last 18 months. While Mr. Burnham’s Labour Party has received a polling bounce of around 6% – quite a typical bump when a leader is changed mid-Parliament – almost every survey has suggested Reform would be the largest party at the next general election.
Farage is a threat to the Westminster establishment that has not been seen in at least 100 years. Assuming he navigates the committee's results and commits no major faux pas in the next three years, he may well be Prime Minister. And more so, he may be the harbinger of doom for the Conservative Party and relegate Labour to a desultory second-place finish.
It seems no wonder that the Westminster establishment wants to end his career as early as possible.
Tyler Durden Fri, 08/14/2026 - 08:45 Close Fri, 14 Aug 2026 12:38:08 +0000 World Cup Hangover Triggers Retail Sales Slump In July, K-Shaped Economy Waning
World Cup Hangover Triggers Retail Sales Slump In July, K-Shaped Economy Waning
Based on BofA's almost omniscient analysts, traders should expect a big disappointment this morning from US retail sales as the bank's data showed a hug
Read more.....
World Cup Hangover Triggers Retail Sales Slump In July, K-Shaped Economy Waning
Based on BofA's almost omniscient analysts, traders should expect a big disappointment this morning from US retail sales as the bank's data showed a huge drop in online retail (card not present) in July...
...because Prime Day and related promotions were pulled forward from July to June this year. Many other retail categories also saw m/m declines, including clothing, gas (due to lower prices) and furniture . Other factors driving the weakness in July likely included the heat wave around July 4 weekend and a modest post-World-Cup hangover effect.
And once again, BofA was right... US Retail Sales plunged 0.6% MoM in July (+0.1% MoM exp) - the biggest MoM drop since May 2025 . This drop slowed the annual rise in retail sales to +5.0% YoY (still solid)...
Interestingly, unadjusted retail sales rose in July...
Both headline and core sales growth slowed YoY...
Most importantly, the 'Control Group' - which plugs directly into GDP calculation - dropped 0.4% MoM (dramatically worse than the +0.3% MoM rise expected).
Additionally, UBS noted that a key risk to the July data was fading support from larger tax refunds compliments of the OBBBA and that could be part of the disappointment today.
Under the hood, it was very mixed. A drop in gasoline station spending makes sense as gas prices dropped (before re-accelerating in August)...
But, the decline in online (non-store) retailer sales stands out...
This was the second biggest MoM drop Nonstore Retailers sales since COVID (likely due to the calendar shift form Prime Day as mentioned above)...
Real retail sales - admittedly roughly adjusted for CPI - remains positive, but slowed significantly in July...
Finally, the The latest BofA data provides additional evidence that K-shaped dynamics are waning . In each of the four weeks ending Aug 1, y/y total BAC card spending growth was stronger among lower- than higher-income HHs .
And this isn’t just due to higher gas prices. Even in discretionary categories, the “K” has turned into a “C” over the last couple of months: lower-income spending looks solid, while higher-income spending has cooled off modestly.
Tyler Durden Fri, 08/14/2026 - 08:38 Close Fri, 14 Aug 2026 12:20:00 +0000 Russia Quickly Rejects Ukraine's Offer Of Ceasefire On Black Sea Shipping
Russia Quickly Rejects Ukraine's Offer Of Ceasefire On Black Sea Shipping
Ukraine has quietly floated a deal through a third-party mediator to halt reciprocal strikes on civilian vessels in the Black Sea, Reuter
Read more.....
Russia Quickly Rejects Ukraine's Offer Of Ceasefire On Black Sea Shipping
Ukraine has quietly floated a deal through a third-party mediator to halt reciprocal strikes on civilian vessels in the Black Sea, Reuters reports, in what appears to be a calculated bid to unfreeze a critical global commodity corridor and to relieve pressure on Ukraine's battered wartime economy.
The maritime artery remains a vital economic lifeline for both nations, channeling massive volumes of grain and agricultural supplies to world markets - especially the Middle East and Africa - but there's now been weekly and almost daily tit-for-tat attacks .
via Reuters With roughly 90% of Ukrainian grain and sunflower shipments departing from the primary port cluster of Odesa, Chornomorsk, and Pivdenne, the fallout on Ukraine's agricultural sector has been severe.
Kyiv Post cites that as a result grain exports have fallen 76% year-on-year so far in August . But the publication notes that the pressure is longer one-sided, as "on Wednesday, Ukraine launched a major coordinated strike on Novorossiysk, Russia’s key Black Sea naval and grain-export hub, forcing all three grain terminals to suspend operations and hitting naval infrastructure."
It didn't take long on Friday for the Kremlin to dismiss the idea of a Black Sea ceasefire , blaming Ukrainian acts of "terrorism" against maritime traffic. ?Foreign Ministry spokeswoman Maria Zakharova accused charged Kiev with "brazen acts of ?terrorism" against shipping.
"We view these attacks (by Ukraine) as a deliberate policy aimed at destabilizing ?civilian shipping in the Black Sea region to further escalate tensions and ?prolong the conflict, all with the blatant acquiescence of regional neighbours," Zakharova said .
"At the same time, we see no signs of improvement in the situation and, consequently, ?no grounds for half-measures that merely grant the Kyiv regime a temporary ?breathing space," she added.
Part of this grinding war of attrition if for each side to impose as much economic pain as possible, and Ukraine will be more easily squeezed by blocking its ability to export and import - given its key ports are all concentrated along its Black Sea coast.
Russian forces had hit more than 80 vessels believed involved in supplying the Ukrainian military in the month of July alone , state TASS wrote recently based on official defense ministry data.
Moscow seeks to sever military supply routes and disrupt arms shipments bound for Ukraine, but this has also obviously resulted in damaged and sunken tankers, auxiliary vessels, and even deaths of civilian bystanders among international shipping crew. It has accused Ukraine of seeking to hide military shipments under the guise of civilian cargo transit .
Russia's reaction is somewhat expected, given it has long voiced that it has no interest in short-term ceasefires which could only allow Ukraine forces to rearm and regroup; instead, it will only settle for a lasting and permanent political solution at end to the conflict.
Of course, in Moscow's view this means official recognition of the seized eastern territories and Crimea as Russian sovereign land. President Putin himself has made clear that he will not stop the 'special military operation' until at least this is fully accomplished.
Tyler Durden Fri, 08/14/2026 - 08:20 Close Fri, 14 Aug 2026 12:04:58 +0000 Stocks Set To Post Fresh All Time High As Tech Euphoria Returns
Stocks Set To Post Fresh All Time High As Tech Euphoria Returns
Futures are fractionally higher, as they have been much of this supercharged week which pushed stocks to new all tim ehighs, amid quiet news flow this morning. As of 8:
Read more.....
Stocks Set To Post Fresh All Time High As Tech Euphoria Returns
Futures are fractionally higher, as they have been much of this supercharged week which pushed stocks to new all tim ehighs, amid quiet news flow this morning. As of 8:00am ET, S&P futures are up 0.1% after the index closed at a record on Thursday. Nasdaq 100 futures advanced 0.2%, with the tech benchmark set for a 1.2% gain in the week. Momentum darling Sandisk rallied almost 6% in premarket trading after surging double digits yesterday and is now up 60% from its lows less than two weeks ago; Mag 7 stocks mostly unchanged with MSFT and META showing some modest declines as investors continued to focus on OpenAI’s plans for a Wall Street debut. Bond yields are 1-2bp higher, led by 30y. A Reuters article reported that BOJ is eyeing September rate hike and faster pace of tightening, affirming the recent hawkish bias: OIS now sees 81% probability of a September hike (vs. ~65% last Friday). Commodities are modestly higher: oil moved 0.6% higher; gold added 0.1% this morning. US economic data calendar include July retail sales (8:30am), August preliminary University of Michigan sentiment and June business inventories (10am). No Fed speakers scheduled for the session
In premarket trading, Mag 7 stocks are mixed (Tesla +0.5%, Microsoft -0.3%, Nvidia +0.2%, Alphabet 0.0%, Apple 0.0%, Amazon -0.1%, Meta -0.1%)
Dronemakers including AeroVironment (AVAV) are higher after the Trump administration said it is applying a 100% tariff on imports of unmanned aircraft systems and their components. AeroVironment shares are up 3%.
Aehr Test Systems (AEHR) rises 8% after Jefferies started coverage on the semiconductor manufacturing company with a buy rating, citing the firm’s growth profile.
Applied Materials (AMAT) falls 5% after the semiconductor capital equipment company’s estimate-topping forecast met with tepid investor reaction following the stock’s frenetic rally this year.
ARS Pharmaceuticals (SPRY) sinks 14% after the company pushed back the timeline for the biotech to reach cash-flow breakeven to the end of 2027. The firm’s management previously expected to reach that mark by the middle of 2027.
Capricor (CAPR) surges 100% after the drug developer said it plans to amend its biologics license application for its drug to treat a rare muscle disease and that the FDA has indicated it is willing to review this amendment. The news spurred an upgrade at Cantor.
Gemini Space Station (GEMI) falls 6% after the crypto exchange founded by the Winklevoss twins reported a wider-than-expected adjusted Ebitda loss for the second quarter amid crypto trading declines.
Globant (GLOB) falls 11% after the IT-services company cut its full-year forecast. It also gave a third-quarter forecast that was weaker than the analyst consensus estimate.
Nubank (NU) gains 10% after the Brazilian fintech reported second-quarter net income that beat the average analyst estimate and saw its 15 to 90-day non-performing loan ratio improve.
Reddit (RDDT) jumps 10% as the social media company is set to join the S&P 500 prior to the opening of trading on Aug. 18.
Sandisk (SNDK) rises 6%, set to extend Thursday’s 14% rally, as JPMorgan assigns an overweight rating following the firm’s investor day.
York Space (YSS) is down 17% after the space and defense company cut the revenue outlook for the full year.
Tech shares again lifted the S&P 500 to fresh highs this month as investors piled into beaten-down semiconductor and other AI-related stocks, with second-quarter earnings exceeding already lofty expectations. After a benign consumer inflation print and producer price data this week, US retail sales numbers on Friday could provide more clues on the direction of Fed policy ahead of next month’s meeting, although according to real-time BofA card spending data, expect a big miss when the data is released at 8:30am.
And speaking of Bank of America, its CIO Michael Hartnett said the “door wide open for bulls to rip risk higher.” He cites soaring earnings, a $10 trillion wealth surge in 2026 and over $1 trillion of AI capex expected in 2027. But most notably he says AI is now so big it is the market, and policymakers simply can not allow stocks to fall as it will spark an economic crash.
Elsewhere, the chip bubble is baaaaack: South Korea’s Kospi Index - a bellwether for retail and momentum euhoria in chip names - added over 2% Friday, bringing its weekly gain to 11% and snapping a seven-week losing streak. Samsung Electronics and SK Hynix both advanced more than 15% over the past five days.
“A huge amount of hyperscaler money is flowing into hardware,” said Hitoshi Asaoka, chief strategist at Asset Management One. “That is translating into extremely strong sales and profit growth for hardware companies. Investors are returning to the idea of, ‘let’s look at the earnings themselves again.’”
Meanwhile, the threat of lofty energy prices reigniting inflation remains. Brent crude jumped almost 2% on Friday, before reversing the move to trade around $87 a barrel. Treasury Secretary Scott Bessent promised unprecedented “economic isolation” for Iran and a “one-two punch” that includes the continued blockade of the country’s ports.
European shares hover near record highs with continued support from the artificial intelligence trade and after the region’s equity funds notched their largest inflows in six months. The Stoxx 600 is little changed as software and IT stocks rally, boosted by a report that Silver Lake is in talks to acquire Workday. HelloFresh falls to a record low after a downgrade at Barclays. Here are the biggest movers:
European software and IT stocks post broad-based gains on Friday, with sentiment boosted by a Reuters report that Silver Lake is in talks to acquire Workday. SAP, Dassault Systemes and Nemetschek are among gainers.
Maersk shares gain as much as 6.5% after an upgrade to hold from sell. The shipping company appears to have scope for a further guidance upgrade, and “ample room” for share buybacks over 2027-28.
Aviva shares rise slightly, briefly reaching their highest level since May 2018, after the insurer’s first-half operating profit exceeded estimates. Analysts note the beat was supported by reserve releases, tempering the market reaction.
Autostore shares extend a post-earnings rally after the stock was raised to buy from hold at Deutsche Bank, which cites multiple consecutive quarters of improving momentum, stronger customer engagement and a growing backlog at the warehouse automation firm.
DFDS shares rise as much as 21%, the steepest gain since 2008, after the shipping and logistics firm raised its revenue growth outlook for the year.
Talanx shares rise as much as 5.9%, the most in over a year, after the insurer’s second-quarter net income came in comfortably ahead of estimates and supported a lift to its guidance for the full year.
Napatech shares rally as much as 25%, the most in over three months, after the Danish company that provides Programmable Network Interface Cards used in data centers said it has secured a follow-on production order related to a major AI-infrastructure design win secured in 2025.
Cohort shares gain as much as 7.4%, the most since early July, after the electronic and surveillance technology solutions company announces that its German unit ELAC was awarded a contract to supply integrated sonar systems for the Polish Orka submarine program in collaboration with Saab.
VZ Holding shares jump as much as 10% after the provider of investment advisory services beat expectations in the first half.
HelloFresh shares fall to a record low as Barclays downgrades to underweight and assigns a Street-low price target, saying questions remain about the meal kit provider’s top line.
EnergieKontor shares plummet as much as 18% and hit their lowest level since 2020 after the wind-energy producercut its earnings goal after markets closed yesterday, just hours after reaffirming its guidance.
GB Group shares fall as much as 27%, their steepest drop since 2009, after the identity verification and fraud prevention company lowered its full-year revenue guidance.
Asian stocks rose, poised for their best week in two months, as the AI tech rally regains momentum on fading concerns over Federal Reserve rate hikes. The MSCI Asia Pacific Index advanced as much as 0.7% Friday, extending its weekly gain to about 3%. South Korea’s tech-heavy Kospi gained for a fifth-straight session, its longest streak since mid-June , while Japanese equities also advanced. Indonesian stocks gained after an address to the nation by President Prabowo Subianto before its budget. After last month’s volatile selloff, the AI trade is getting back on track following the latest corporate results. Stocks in South Korea and Taiwan are set for their biggest weekly foreign inflow in months, a sign that global investors are returning after a historic selloff. “Once traders start searching for yield again, they tend to gravitate back toward that AI and tech picture,” Tim Waterer, chief market analyst at KCM Trade, told Bloomberg TV. “I think that the US earnings season went some way into dispelling some of the fears that were building up about valuations and sustainability of operating margins.” Elsewhere, Hang Seng had its biggest weekly decline in seven weeks. Vietnam fell most in Asia on financial concerns.
In FX, the Bloomberg Dollar Spot Index falls 0.2% and is on course for its largest decline since last week’s payrolls miss. The Norwegian krone is leading gains against the greenback, rising 0.5%, also helped by higher oil prices. The kiwi is also at top of the leaderboard after underperforming on Thursday. USD/JPY edges down toward 159. European stocks are little changed while futures are pointing to a fairly flat open on Wall Street.
In rates, long-end Treasuries hold losses in early US session, with yields higher by around 1-2bp and extending this week’s curve-steepening move amid similar price action in European bond markets. The US sold 30-year bonds at the highest yield in a quarter century on Thursday, underscoring the premium investors are demanding to finance the nation’s deficits. US 10-year yield near 4.65% is less than 1bp higher on the day with bunds and gilts in the sector lagging by 2.5bp and 2bp; WTI crude futures are up about 0.5%, off session highs. With front-end and belly yields edging lower, US 2s10s spread widens nearly 2bp to 52bp, widest since May 21 and near 200-DMA which has broadly held since March; 5s30s spread is more than 2bp wider near 92bp, last seen May 14. UK and German 10-year borrowing costs rise 3 bps each. IG credit new-issue slate empty so far. Three companies sold a combined $5.85 billion on Thursday, paying about 11bp in new issue concessions on deals that were 2.6 times oversubscribed. Start of next week has the potential to be relatively active.
In commodities, WTI crude oil futures advance as talks around reopening the Strait of Hormuz continue to show limited progress. Brent crude futures rise 0.7% to around $87.60 a barrel and that’s hampered bonds.
US economic data calendar include July retail sales (8:30am), August preliminary University of Michigan sentiment and June business inventories (10am). No Fed speakers scheduled for the session
Market Snapshot
Top Overnight News
The United States on Thursday said that it could maintain a naval blockade of Iran indefinitely and would ratchet up economic pressure on Tehran as ceasefire talks have floundered, global oil supply is dropping and regional tensions are rising. RTRS
The US is pressing NATO allies to demonstrate support for Donald Trump’s policies, as it reviews potential troop cuts in Europe. BBG
Ukraine has sent Russia an offer suggesting they both halt attacks ?on civilian targets in the Black Sea, a source said, after mounting strikes on vessels and ports there raised fears over global food supplies. RTRS
China’s auto factories are building so many cars for export that the global shipping industry can’t keep up. Specialized car carriers, essentially floating parking garages, are booked out years ahead to export cars from Chinese factories. Rates to charter ships are up 65% this year on the surging demand to move vehicles out of China. WSJ
Tariffs latest: The US is imposing a 100% duty on some imported drones and their components, a move that may significantly affect China. Australia said the US agreed to “consider full exemption or, at the very least, no increase” to the tariffs. BBG
The BoJ is set to raise interest rates as soon as ?September and is considering hiking more aggressively thereafter from the current pace of roughly twice a year, said three sources familiar with its thinking. RTRS
Japan’s efforts to prop up the yen are creating fresh opportunities as investors return to carry trades — borrowing the low-yielding currency to buy higher-returning assets. BBG
Leading US AI labs such as OpenAI and Anthropic are releasing cheaper models as they fight to retain cost-conscious customers who are switching to cut-price alternatives from Chinese rivals. The price war comes as rising AI bills push companies to curb usage and seek cheaper models, helping Chinese developers including Moonshot and DeepSeek make inroads with users from Silicon Valley to Europe. FT
OpenAI is on track to generate annualized revenue of more than $40 billion based on its current performance, people familiar said. The ChatGPT maker’s revenue has accelerated in recent months. BBG
Fitch affirmed the US at AA+, outlook stable, while it stated that the US rating is supported by a large economy, high per capita income, dynamic business environment and exceptional financing flexibility. However, it also commented that labour demand has weakened and job creation has dropped significantly in 2026, while it expects inflation to move towards the target by year-end 2028.
US White House deputy national security adviser Andy Baker will leave the administration in coming weeks: Axios
A more detailed look at global markets courtesy of Newsquawk
APAC stocks traded mixed as the region only partially sustained the positive handover from Wall Street, where the S&P 500 hit a fresh record high, and the Nasdaq outperformed on tech strength, as softer PPI data further added to the case for the Fed to refrain from hiking rates in September. Nonetheless, the positive momentum began to wane overnight with little fresh major catalysts and after US President Trump signed a proclamation imposing tariffs on drones and components. ASX 200 was pressured as the strength in tech was overshadowed by losses in the heavy industries, including miners, materials, resources and industrials, while participants also digested earnings releases. Nikkei 225 gained and briefly reclaimed the 69,000 level before paring some of the advances, while participants continue to second-guess whether the BoJ will speed up the pace of rate increases. KOSPI outperformed on tech momentum, but is off earlier highs with resistance at the 7,000 level. Hang Seng and Shanghai Comp were subdued amid a slew of earnings releases including from SMIC and JD.com, with the latter pressured despite beating on the top and bottom lines, while sentiment was also not helped by trade-related frictions with the US to impose tariffs of up to 100% on drones, which seems to be aimed at China and DJI, which holds around an 80% share of the global drone market.
Top Asian News
PBoC keeps 7-day reverse repo operation volume at zero, while it injects CNY 349bln via overnight reverse repos.
Taiwan raises 2026 GDP forecast to +11.05% (prev. +9.64%).
Hong Kong revises 2026 GDP forecast to 3.5-4.5% (prev. 2.5-3.5%).
European bourses are broadly softer across the board, outside of the DAX 40 given the gains in SAP (see more below). Over in Asia, memory chip names (Kioxia +3.8%, SK Hynix +3.3%) climbed in Asia-Pac trade after Sandisk gave a positive outlook at its investor day. Sandisk said it expects revenue growth in the mid-to-high teens between 2028-30 and also plans to return 100% of excess cash to shareholders. Sectors are mixed. Tech is the sector outperformer, followed by Media and Insurance. To the downside is Utilities, while Basic Resources and Health Care also underperform.
Top European News
Reform UK leader Farage won the Clacton by-election with 22,293 votes.
FX
DXY gradually weakened throughout the morning to a 99.70 base, despite higher energy prices (Brent +1.5%), which are typically constructive for the USD. Weakness in the Buck likely comes as participants digest the July series of data, which contained dovish components. CPI/PPI were in-line and soft, respectively, while the payrolls figure will likely give food for Fed doves. Today, USD is set to digest US Retail Sales and the UoM survey.
USD/JPY -0.2% and continues choppy action, this time after another BoJ source said the Bank was set to raise interest rates as soon as September; this saw the pair slip 17 pips to a 159.15 base, a level which is being tested at the time of writing. Currently, markets assign a c. 80% probability of such action in September. More pertinently, Bloomberg sources on Thursday said the Takaichi government is said to support faster BoJ rate hikes. The piece also said the bank could raise rates in either September or October; the timing of the latest source potentially the reason why this JPY strength has stuck.
Kiwi is rebounding vs the USD after losses following Thursday's soft inflation expectations survey; action which has entirely faded with the pair ~0.2% higher than pre-data. NZD/USD +0.4%, once again above all significant DMAs.
NOK is the G10 outperformer, strength which is likely a function of oil prices despite the Norges Bank hold on Thursday raising questions over the removal of the tightening bias from the statement in September. Brent Oct’26 is firmer by 1.5%, after rising throughout the EU morning without a clear catalyst. NOK/SEK sees continues support above 1.00, while USD/NOK broke out of recent ranges
Fixed Income
USTs continue to fall further from Thursday's peak of 109-03+, after failing to hold above the current range highs of 109-01. The 30-year auction was soft, showing a 0.4bp tail, below-average bid-to-cover and above-average dealer allocation, all pointing to weaker demand despite the considerably higher outright yield on offer. Following the auction, analysts at TD Securities said this is problematic for the Treasury as it must fund the government at more expensive levels. Looking ahead, US Retail sales is on the docket.
Gilts opened lower and trades at the lower end of its 86.90-87.26 range, given the steady climb in energy prices. On the political front, Reform leader Farage won the Clacton by-election as expected. Following the count, More in Common's Tryl told Politico that despite that impressive raw vote total by Farage, the vote share was at the lower end of expectations, which shows that his opponents are highly motivated to turn out. Focus now turns to the outcome of the Parliamentary investigation into Farage over recent donations.
Bunds continue to trade counter to energy prices, currently trading at the bottom end of its 124.72-125.01 range. A light docket ahead in Europe, given the summer period.
Australia sells AUD 1bln November 2032 bonds, b/c 3.75, avg. yield 4.6868%.
Commodities
Crude futures have been grinding higher throughout the European morning despite the lack of a clear driver. Overnight, US Treasury Secretary Bessent said they will implement unprecedented measures on Iran and are conducting a maximum pressure campaign against Iran. Meanwhile, this morning, Iranian Foreign Ministry spokesman Baghaei said a possible agreement with Oman on a new shipping route through the Strait of Hormuz will not, by itself, mean the strategic waterway will reopen. Furthermore, UKMTO says a tanker was struck by a drone while transiting outbound through the Strait of Hormuz, possibly following comments by ADNOC stating that two of its vessels attacked while transiting the Strait of Hormuz on Thursday.
There have also been a couple of headlines regarding Russia/Ukraine/NATO: NATO HQ confirmed allied jets were scrambled after a drone entered Latvian airspace. Russia's Foreign Minister Lavrov said an immediate ceasefire in Ukraine is not possible.
WTI Sept and Brent Oct futures have been edging higher since European players entered the market. Brent trades towards the top end of a USD 86.20-88.60/bbl range at the time of writing whilst WTI sits towards the upper end of a USD 80.71-82.99/bbl range. Dutch TTF is firmer by almost 2% intraday and north of EUR 61.50/MWh.
Metals are flat/mixed amid a lack of drivers and in what is seemingly a summer lull. Spot gold resides towards the middle of a USD 4,322-4,363/oz range after dipping under yesterday’s 4,343/oz low. Spot silver ekes mild gains and resides towards the top end of a USD 63.51-64.73/oz range after briefly falling under yesterday’s USD 64.22/oz low. 3M LME copper remains above USD 14k/t in a USD 14,045.20- 14,125.28/t range.
US VP Vance said goal one is to keep oil and gasoline affordable for the US.
China's State Planner said domestic gasoline and diesel retail price caps will be cut by CNY 230/T and CNY 220/T, respectively; effective on August 14.
Ukrainian official said if a ceasefire is implemented in the Black Sea region, Ukraine could restore grain exports through its seaports within one month.
Trade/Tariffs
US President Trump signed a proclamation imposing tariffs on drones and components, which imposes 100% tariffs on certain-sized drones and a 25% tariff on smaller-sized drones. 10% tariffs will be imposed on drones from the UK and 15% tariffs on drones from the EU, Japan, Liechtenstein, South Korea, Switzerland and Taiwan. Tariffs will take effect 21 days after signing, while for components of drones that are not particularly sensitive, the tariffs will take effect 180 days after signing.
Australian PM Albanese said he spoke with US President Trump and reviewed advancements under the AUKUS defence agreement, while he added that the AUKUS initiative continues full steam ahead. Albanese said he raised the issue of tariffs with Trump and urged him to consider full exemption, while he added that Trump would consider Australia's request.
Brazil began analysing the reciprocity process on US tariffs, while it was notifying the US about the process and requesting that diplomatic consultations be held.
Central Banks
Fed's Goolsbee (2027 voter) said they have been getting a little bit better readings on inflation, which he hopes will continue and noted that a lot of inflation drivers were from tariffs, oil and things they hope to be one-time increases. Furthermore, he stated that if they can get some of that into the rearview mirror, they can get inflation heading back to 2%, and that the US economy is steady.
The BoJ is reportedly set to raise interest rates as soon as September and also considering accelerating subsequent hikes, according to reports.
RBA's Harper will depart from the monetary policy board, and Melinda Cilento has been named as a part-time member of the RBA board.
Geopolitics: Iran
US VP Vance said the US has a lot of tools at its disposal for Iran.
US Treasury Secretary Bessent said they will implement unprecedented measures on Iran and are conducting a maximum pressure campaign against Iran, targeting its bank accounts and digital currencies worldwide, while the pressure campaign caused the collapse of the Iranian banking sector. Bessent added that measures against Iran will be a combination of economic isolation and blockade in the Strait of Hormuz, and he expects more announcements on Iran next week. Furthermore, he said they will take actions unprecedented in the history of economic isolation of a country and will prevent anything from entering or leaving Iranian ports.
Iranian Foreign Ministry spokesman Baghaei said a possible agreement with Oman on a new shipping route through the Strait of Hormuz will not, by itself, mean the strategic waterway will reopen, Press TV reported.
UAE's ADNOC said two of its vessels attacked while transiting the Strait of Hormuz on Thursday. Following this, UKMTO said a tanker was struck by a drone while transiting outbound through the Strait of Hormuz.
US CENTCOM commander and Saudi Crown Prince MBS discuss mutual defence cooperation and efforts to de-escalate regional tensions, according to Saudi State News Agency.
US President Trump's son-in-law Jared Kushner is to visit Israel next week for consultations on the situation in Gaza, according to Axios
Airstrikes hit separatist militant group in Erbil, Iraq, according to Tehran Times.
Geopolitics: Ukraine
Russia's Foreign Minister Lavrov said an immediate ceasefire in Ukraine is not possible, IFX reported.
Drones hit area around Russian Baltic seaport of Ust-Luga, according to the regional governor.
Latvia issued an air threat alert in areas bordering Russia and Belarus, while NATO fighter jets shot down a drone over northeastern Latvia. It was also reported that Finland restricted aviation and maritime traffic in eastern Gulf of Finland.
Geopolitics: Other
North Korea condemned US-South Korean military drills and said the military exercises are more provocative than last year, while it added that US-Japan-South Korea military cooperation is turning into a nuclear alliance. Furthermore, North Korea vowed to respond to a new level of threat with a new level of deterrent and will continue to expand nuclear deterrence, according to KCNA.
Japanese Regional Coast Guard said four Chinese ships intruded into Japanese territorial waters, Kyodo reported.
US Event Calendar
8:30 am: United States Jul Retail Sales Advance MoM, est. 0.1%, prior 0.2%
8:30 am: United States Jul Retail Sales Ex Auto MoM, est. 0.2%, prior -0.2%
10:00 am: United States Aug P U. of Mich. Sentiment, est. 55, prior 55.2
DB's Jim Reid concludes the overnight wrap
Right. I’m about to go off on holiday to find somewhere cooler after what was the 5th hottest day ever in the UK yesterday. I say 5th hottest but that is recorded history. Apparently the Early Eocene Epoch some 55 million years ago was the last time these sorts of temperatures were the norm in the UK. Admittedly the country was nearer the Mediterranean then! For the next couple of weeks you'll mostly find me bathing in an Alpine lake or shouting at my children. Henry and Peter will be holding the fort while I'm gone. See you on the other side.
That PPI release set the tone for the day, as it cemented the view after Wednesday’s CPI that the Fed didn’t need to rush into rate hikes. The data showed monthly headline PPI unchanged in July (vs. +0.2% expected), which meant the year-on-year reading fell back to +4.7% (vs. +4.9% expected). So the release supported the view that the energy shock was fading, and the Fed wouldn’t need to react next month. As ever, there was also some focus on the categories that feed into PCE inflation, which is the Fed’s preferred measure. But those were generally mixed and offset each other, with strength in portfolio management (+6.5%) offset by weakness in other categories like airfares (-3.4%). In net terms, the PPI details added a one basis point to our US economists’ estimate for July core PCE inflation.
The downside PPI surprise led to an immediate reaction in pricing for the next Fed meeting. For instance, the probability of a September hike had been at 40% right before the release, but was down to 35% by the close. Indeed, the last time a hike by September was considered that remote was back in June, before Warsh’s first press conference was unexpectedly hawkish. That said, there was a reluctance to go much lower on market pricing given we’ve still got the August jobs report and CPI report before the next FOMC meeting. And looking further out, futures are now pricing in a 92% chance of a hike by the December meeting, also the first time since June that this has been less than fully priced.
We did hear from a few Fed speakers as well, but there weren’t really any surprises from a market point of view. Cleveland Fed President Hammack said that “I think we need to act now”, but she’d already dissented for a rate hike in July, so that wasn’t a surprise. Meanwhile, Richmond Fed President Barkin (a non-voter this year) was more dovish, pointing out that much of today’s high inflation “has come from shocks, which should pass”.
This backdrop of softer inflation and more dovish rates pricing led to a big rally for US Treasuries yesterday. In fact, the 10yr Treasury yield (-5.1bps) fell to 4.64%, whilst the rate-sensitive 2yr yield (-5.9bps) fell to 4.14%, its lowest level in almost a month. And the 30yr yield declined by -4.5bps, though we did see the highest yield at a US Treasury auction since 2001 as $25bn of 30yr bonds were issued at 5.216%. In Asia this morning US yields are back up a basis point across the curve.
The dovish momentum received further help yesterday from lower oil prices, which finally ended their run of gains over the last week. It wasn’t a huge fall, but Brent crude was down -2.15% by the close to $87.07/bbl, ending a run of 6 consecutive daily gains. Brent did rise from its intraday low of $85.85/bbl after the Houthi-run Saba news agency reported that the Houthis were targeting the Aramco refinery in the Jizan region. And earlier on in the session, Iran’s state-run IRIB cited a joint military command spokesman, who said that no ship could safely transit the Strait of Hormuz without approval. But overall, in the absence of material news, some of recent run up in geopolitical risk premium was taken out of oil markets, not least given the sizeable recent shipping via Hormuz by shuttle transfers and ships operating without transponders. Brent is flat this morning.
Beyond the crude oil moves, it’s worth noting the continued tightness in refined product markets. Crack spreads in the US and Europe remain close to the highs reached in late July. So while crude oil prices are down by over 25% from their spring peak, the decline in refined product prices has been more modest. For perspective, while Brent crude is now +20% above pre-Iran war levels, US wholesale gasoline prices are about +50% higher and European diesel prices are about +60% higher. Just ahead of filling our car before the 14-hour drive to the Alps!
Whilst the PPI reading and lower oil prices were the main market drivers yesterday, we also had the US weekly initial jobless claims. They were a bit higher than expected, rising to 209k in the week ending August 8 (vs. 202k expected), so again that cemented the view that the Fed could stay on hold at the next meeting. And in turn, all this dovish newsflow benefited US equities, with the S&P 500 (+0.65%) at another record. This was aided by a recovery for the Magnificent 7 (+1.20%) as well as tech stocks more broadly as the NASDAQ (+0.81%) and the Philly semiconductor index (+0.46%) also advanced. But it was a positive day more broadly with the equal-weighted S&P 500 (+0.74%) outperforming and hitting a new high as well.
Earlier in Europe, markets hadn’t been quite as resilient, with the STOXX 600 (-0.04%) edging lower for a second consecutive session. In part, that reflected Europe’s smaller exposure to tech, and also that ECB pricing didn’t move as much as Fed pricing did. Indeed, investors continue to price a September rate hike as a 90% chance for the ECB. So yields saw a comparatively smaller fall in Europe than the US, with those on 10yr bunds (-2.9bps), OATs (-3.5bps) and BTPs (-4.8bps) ending the day lower. UK gilts were a particular underperformer, with the 10yr yield only down -1.9bps after the monthly GDP print surprised on the upside in June, unexpectedly rising by +0.3% (vs. -0.1% expected).
In Asia this morning, the KOSPI (+1.99%) continues its recent comeback, extending its rally to a fifth straight session, with the Nikkei (+0.56%) also firm. In contrast, Hong Kong's Hang Seng (-0.93%) and Australia's S&P/ASX 200 (-1.01%) are under pressure, while mainland Chinese benchmarks are seeing modest declines, with the CSI 300 (-0.12%) and Shanghai Composite (-0.21%) edging lower. S&P 500 futures are flat with the Nasdaq equivalent -0.15%. European futures are back up a quarter to half a percent as I type.
Looking at the day ahead, data releases include US retail sales for July, and the University of Michigan’s preliminary consumer sentiment index for August. Meanwhile in the Euro Area, there’s also the second estimate of Q2 GDP.
Tyler Durden Fri, 08/14/2026 - 08:04 Close Fri, 14 Aug 2026 11:45:00 +0000 Unusual Machines Jumps After Trump Slaps 100% Drone Tariff In "Hard Decoupling" From China
Unusual Machines Jumps After Trump Slaps 100% Drone Tariff In "Hard Decoupling" From China
Shares of drone makers AeroVironment and Aevex, and "pure-play" drone-parts company Unusual Machines, are higher in premarket trading Thursda
Read more.....
Unusual Machines Jumps After Trump Slaps 100% Drone Tariff In "Hard Decoupling" From China
Shares of drone makers AeroVironment and Aevex, and "pure-play" drone-parts company Unusual Machines, are higher in premarket trading Thursday after the Trump administration signed a proclamation imposing tariffs of as much as 100% on imported drones and components , part of a broader effort to decouple the nation's drone supply chain from China.
Drones weighing more than 55 pounds , in other words, Group 3 drones, equipped with thermal imaging and certain sensitive components will face the top rate. Smaller, less-capable drones (< Group 3) and other parts will be subject to a 25% duty. Qualifying imports from the European Union and several US trading partners will face a 15% levy, while UK products will be taxed at 10%.
"The tariffs will take effect 21 days after signing . For components of drones that are not particularly sensitive, the tariffs will take effect 180 days after signing," the White House wrote in a fact sheet describing the new drone tariffs.
"In the long term, we're probably slipping towards an outcome of a hard decoupling for at least certain types of drones ," said Christopher Beddor, deputy China research director at Gavekal Dragonomics, who Bloomberg quoted. "I think this is part of a broader pattern in which both the US and China uphold their basic trade agreement but continue to take relatively low-grade actions against each other."
Alicia Garcia-Herrero, chief economist for Asia-Pacific at Natixis, said these drone tariffs are all "about reducing dependence on China for advanced drones and, importantly, components, as previous FCC barriers did not cover imports of grandfathered models and many drone components ."
AeroVironment and Aevex were marginally higher in premarket trading. However, Unusual Machines, which we've labeled a "pure-play"
... jumped 13% and continues to move higher since our initial coverage began on July 23 (+54%).
Related
In the previous report , we focused on AeroVironment, Ondas, Red Cat, AEVEX, Redwire, Insitu and Teledyne FLIR. Private companies covered included Anduril, Skydio, Shield AI, Quantum Systems, Performance Drone Works, DZYNE, Firestorm Labs, and Neros.
Read the full report on how to profit from the "Asymmetric Warfare Boom."
Tyler Durden Fri, 08/14/2026 - 07:45 Close Fri, 14 Aug 2026 11:20:00 +0000 Saudi Oil Fleet Increasingly Going 'Dark' Due To Houthi Blockade
Saudi Oil Fleet Increasingly Going 'Dark' Due To Houthi Blockade
Saudi Oil Fleet Increasingly Going 'Dark' Due To Houthi Blockade
Via The Cradle
Yemen's maritime blockade on Saudi shipping has pushed the kingdom’s crude exports off the radar in the Red Sea, with tankers forced to turn off their tracking signals to avoid attack and every recent cargo loaded at Yanbu sailing "dark," Reuters reported on Wednesday.
Saudi export volumes can no longer be independently verified as a result of the increased invisibility, with ship-tracking firms issuing conflicting estimates of the same shipments, figures the International Energy Agency (IEA), OPEC, and traders use to gauge world supply and forecast the market.
via AFP Three firms tracking the same week beginning August 3 reached three different conclusions .
Vortexa measured a modest decline at Yanbu, to 2.38 million barrels per day (bpd) from 2.71 million, while Kpler reported a collapse to 1.78 million bpd from 4.04 million, and AXSMarine recorded a rise, to 850,000 bpd from about 420,000.
Vortexa analyst George Morris said no Yanbu cargo lifted last week had its Automatic Identification System (AIS) switched on.
"Last week Yanbu liftings were all conducted dark. We're not seeing any loadings with Automatic Identification System (AIS) on at the moment ," he said.
Kpler analyst Nhway Khin Soe said about 70 percent of loadings along the Saudi west coast were dark in recent weeks , and that every Yanbu cargo loaded since 23 July involved a vessel without continuous AIS coverage.
An average of 32 vessels per day passed through the Bab al-Mandeb Strait last week , according to Kpler data. That is down from roughly 50 a day before Ansarallah announced the blockade.
Saudi oil is meanwhile moving north instead , reaching the Mediterranean either through the Suez Canal or along Egypt's SUMED Pipeline, which runs overland from the Red Sea terminal of Ain Sokhna to Sidi Kerir on the coast.
Satellite imagery reviewed by independent maritime data analyst Phileeppos in a post on X points to a far steeper fall, with loading activity at Saudi Arabia's Red Sea terminals down by roughly half since the Yemeni blockade took effect on 20 July.
Tankers at the King Fahd and Muajjiz terminals were estimated to be holding an average of 10 million barrels per satellite pass beforehand, against around 5 million after.
This comes as Turkey confirmed its entry into a Saudi-led maritime coalition formed to protect shipping through the Bab al-Mandab Strait, the Turkish Ministry of National Defense announced in a recent statement.
The 13-country alliance, headquartered in Riyadh, was announced last month after the Ansarallah-led Yemeni Armed Forces (YAF) imposed its blockade on shipments already diverted into the Red Sea by the closure of the Strait of Hormuz.
The YAF has described the measure as a “blockade for blockade ” strategy, answering more than a decade of blockade and war waged against Yemen by the kingdom.
Ankara's participation deepens a trilateral defense pact signed in Mecca last week, committing Turkiye, Saudi Arabia, and Pakistan to collective security.
Tyler Durden Fri, 08/14/2026 - 07:20 Close Fri, 14 Aug 2026 10:55:00 +0000 Only 3% Of Americans Trust AI "A Great Deal" With Their Money - But One In Five Are Using It Anyway
Only 3% Of Americans Trust AI "A Great Deal" With Their Money - But One In Five Are Using It Anyway
Only 3% Of Americans Trust AI "A Great Deal" With Their Money - But One In Five Are Using It Anyway
A new Gallup survey finds a wide gap between the financial advice Americans say they trust and the advice they actually take.
Just 3% of Americans say they have "a great deal" of confidence in artificial intelligence to help manage their money - while about 30% express "a great deal" or "some" confidence. Moreover, roughly one in five people who sought financial advice in the past year used AI to get it.
The poll, conducted March 20 - April 6, sampled 5,075 U.S. adults aged 21 and older using Gallup's probability-based panel. The survey was run in partnership with Edward Jones - a brokerage that employs roughly 19,000 financial advisors , and whose interests are not entirely disinterested in the result.
Meanwhile, about 80% of adults have at least some confidence in traditional financial advisers. Only about one-third of those who sought advice actually consulted one. Far more - 73% - relied on their own online research.
Most adults sought guidance from at least one source over the past year. Beyond internet searches, advisers and AI, 35% turned to a parent, sibling or other relative; 26% consulted news or social media; about one in five went to friends, authors, speakers or influencers; and smaller shares used employers, retirement-plan providers, robo-advisers or teachers.
The generational split
Roughly a quarter of Gen Z and millennial respondents who sought advice used AI, against 16% of Gen Xers and 7% of baby boomers.
The professional-adviser numbers run precisely the other way: 14% of Gen Z, 21% of millennials, 34% of Gen X, and 55% of baby boomers.
Cost is the obvious explanation. Online research, family input and AI tools are free or close to it. Hiring an adviser is not.
What the experts say
Taha Choukhmane, an associate professor at MIT's Sloan School of Management, told the Associated Press he recommends treating AI as a starting point rather than a final authority. "I would encourage people to use AI to explain and define," he said - for example, to clarify what the stock market is, or the difference between a mutual fund and an index fund. He also suggests asking AI to supply references so users can verify what they are told.
Certified financial planner Bobbi Rebell of Financial Wellness Strategies pointed to a legal distinction that has no technical equivalent. Professional advisers often carry fiduciary responsibility - a legal obligation to act in the client's best interest.
"There's no AI that is a fiduciary," she told AP. "It doesn't really know your life; it's not asking you all the questions."
Whatever the source, the decisions remain the individual's responsibility - and so do the losses.
Tyler Durden Fri, 08/14/2026 - 06:55 Close Fri, 14 Aug 2026 10:30:00 +0000 English Village Will Have Six Migrant Men To Every Woman
English Village Will Have Six Migrant Men To Every Woman
English Village Will Have Six Migrant Men To Every Woman
Authored by Steve Watson via Modernity News ,
A quiet North Yorkshire village of roughly 600 people is set to be flooded with around 1,200 single adult male asylum seekers at the nearby disused RAF Linton-on-Ouse base. Local women would be outnumbered six to one.
Labour MP Rachael Maskell has raised the alarm over the plan, which forms part of the government's wider push to move roughly 3,750 people into three former military sites near villages as it tries to empty asylum hotels.
The base sits beside a primary school and nursery, has only four buses a day into York, and already faces severe shortages of water, sewage capacity and electricity. Maskell has written to border security and asylum minister Anna Turley and is due to meet Home Office officials this month.
"It's just the wrong site," Maskell said. "The last government realised that, once they got into the detail. All we're saying to this Government is that it's really important that they recognise that too, because the site is in a worse state now than it was when the Government last looked at this."
Similar plans for Linton-on-Ouse were abandoned in 2022 after fierce local opposition. Now they are back under active consideration. Local Tory councillor Malcolm Taylor captured the mood of residents who moved there for a quiet life: "They've moved there for the peace, tranquillity and quality of life. This hand grenade has been thrown in."
Professor Olga Matthias of the Linton Action Group called the village "categorically the wrong place for so many reasons."
This is not an isolated case. It follows the same pattern seen in the tiny Oxfordshire village of Piddington, population around 350-400, which faces plans for 1,250 single adult male asylum seekers at a former Ministry of Defence depot right next to a children's playing field.
Residents held a symbolic independence referendum in which 96 percent voted to leave the United Kingdom in protest. Children wrote letters pleading with the Prime Minister not to destroy the only home they have ever known. Parish council chairman Tim McNally has repeatedly warned that the scale is neither fair, safe nor responsible.
Prime Minister Andy Burnham has responded by doubling down. He insists that "all parts of the country need to play their part" and that middle-class and leafy areas can no longer be shielded while poorer communities carry the load.
Borders minister Anna Turley has defended the approach as creating a "more fair and equitable system," even while acknowledging that concentrating arrivals in deprived areas previously fuelled "civil unrest."
The same government that lectures about fairness is also quietly imposing itself on other quiet rural communities. In the tiny Welsh seaside village of Gronant, population around 1,600, residents discovered that their former village hall - converted into 15 new-build homes they expected to go to local families or the open market - had been handed over to asylum seekers.
Thirteen of the fifteen units were taken by Home Office contractor Clearsprings. Blacked-out minibuses arrived without warning. Locals described it as pure betrayal. One resident, Kerrie Cox, said nobody was told about the arrivals. Another called it an "absolute betrayal."
These placements keep following the same template. Single adult men, overwhelmingly of fighting age, are being directed into the most culturally alien, high-trust, low-density English and Welsh villages imaginable - places defined by quiet streets, children's parks, limited public transport, and a long-standing sense of safety.
VIDEO
The contrast could scarcely be sharper. It repeatedly seems like an intentional choice designed to generate the maximum possible friction and cultural upheaval. They could not possibly find locations more foreign to the backgrounds of many of these arrivals.
The government claims the military sites will keep people "contained." In practice, residents are free to come and go. Infrastructure is inadequate. Policing is already stretched thin in these rural areas. Women and girls who once walked freely after dark now face the prospect of living in communities where adult men from very different cultural norms suddenly outnumber them by orders of magnitude.
This is the logical endpoint of a policy that refuses to stop the boats while insisting every corner of the country must absorb the consequences. Closing hotels and shifting people into former barracks or new-build village homes does not reduce the pull factor. It upgrades the destination.
The result is the steady erosion of the very places that once defined the character of rural Britain - one quiet village at a time.
Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch . Follow us on X @ModernityNews .
Tyler Durden Fri, 08/14/2026 - 06:30 Close Fri, 14 Aug 2026 09:45:00 +0000 Is AI Good For The US Labor Market And Bad For Europe's?
Is AI Good For The US Labor Market And Bad For Europe's?
France's unemployment rate has been climbing steadily over the past eighteen months to the highest level in five years, with unemployment increasing across al
Read more.....
Is AI Good For The US Labor Market And Bad For Europe's?
France's unemployment rate has been climbing steadily over the past eighteen months to the highest level in five years, with unemployment increasing across all age groups.
The US, by contrast, has stayed essentially flat and near multi-decade lows over the past few years.
While there are multiple factors driving both country's economic progress (or lack of it), Apollo's Chief Economist, Torsten Slok, recently noted that Europe and the US face the same AI displacement .
But, only the US gets what offsets it:
The widening unemployment gap between France and the US is starting to look like the price of being on the wrong side of that asymmetry .
Underestimating AI Disruption?
Slok also points out that consensus earnings expectations still imply remarkably little disruption from AI.
Of more than 200 publicly traded software and white-collar services companies we track, only 10 are currently expected to experience both revenue and EBITDA declines over the next two years.
That suggests markets may be pricing in the possibility of AI disruption without yet fully incorporating its potential impact on earnings and margins.
Apollo sees that AI pressure as manifesting through three channels:
direct replacement , where AI performs the same task at a lower cost;
labor displacement, where AI reduces the number of employees, contractors or users supporting a business model; and
execution risk , where AI-native competitors innovate faster and take market share.
As adoption accelerates, these are the channels we are watching for signs that AI disruption is beginning to show up in fundamentals .
Read more in Apollo's 2026 Midyear Credit Outlook.
Tyler Durden Fri, 08/14/2026 - 05:45 Close
Dotsquares