Author: Pritam Barman

Fermi Inc. invoked the Manhattan Project in a shareholder letter, arguing that building artificial intelligence and the nuclear-energy capacity to power it is a national priority on par with World War II’s most consequential R&D effort. The newly public power-plant developer laid out plans for a Texas data center campus anchored by future nuclear generation, even as it reported no revenue and a sizable annual loss in its first post-IPO results. “Make no mistake, America is at war,” the company wrote Monday, casting the race to develop AI and the clean baseload to run it as a strategic contest with…

AI stocks pulled back as U.S. equity futures edged lower, with Nvidia under pressure after SoftBank sold its entire stake and CoreWeave warned revenues will miss expectations. By 8:25 a.m. New York time, S&P 500 futures were down 0.3% and Nasdaq 100 futures fell 0.5%, a day after the tech-heavy index logged its biggest gain in nearly six months. The move reflected a reset in risk appetite toward high‑priced technology leaders. Nvidia slipped in premarket trading, dragging the Magnificent Seven, while CoreWeave sank about 10% before the bell. The dollar was little changed. Cash Treasuries were closed for Veterans Day.…

Somali piracy is resurging along one of the world’s busiest shipping corridors, raising fresh alarms for global trade and maritime security. Instability tied to conflict in Yemen and tensions across the Horn of Africa have created openings for pirate networks to test defenses off Somalia. At least three incidents were recorded this month alone, according to the UK Maritime Trade Operations, echoing the region’s tumultuous past when hijackings routinely disrupted container, tanker, and bulk cargo flows. Naval forces say they are responding. The European Union Naval Force’s Operation Atalanta said it freed a Maltese‑flagged tanker near Eyl on Friday, a…

UK asylum hotel ruling reverberated across Westminster after a London judge backed the government’s continued use of hotels to house asylum seekers while longer-term sites come online. The decision, delivered on Nov. 11, rejected a bid by Epping Forest District Council to bar a local hotel from accommodating new arrivals, offering short-term relief to ministers managing a strained system. At issue was whether the Home Office could keep using hotels as contingency accommodation. The judge said the need remains clear and immediate, emphasizing that the alleged statutory breach “is far from being flagrant.” For Labour, which has pledged to end…

Trump Tower Belgrade plans have drawn thousands of students and citizens into the streets of Serbia’s capital, focusing national attention on a $500 million development proposed for the ruins of the former Yugoslav army headquarters. The site, damaged during NATO airstrikes in 1999, is viewed by many as a protected cultural landmark—turning a high-profile real estate deal into a flashpoint over law, identity, and power. Local media showed large crowds gathering around the site on Tuesday, chanting and holding signs in defense of heritage protections. Demonstrators say the development would replace a potent symbol of recent history with luxury towers…

First Brands ex-CEO Patrick James is asking a Houston bankruptcy judge to unfreeze bank accounts and other assets, setting up a pivotal test of the court’s power to preserve money for creditors during a fast-moving restructuring. The hearing comes days after First Brands’ new leadership won a temporary restraining order (TRO) that locked down assets tied to James, with limited exceptions for basic living expenses. The company alleges he diverted hundreds of millions of dollars before the auto‑parts maker sought court protection. James disputes the accusations. His legal team says the order is overbroad, risks crippling legitimate businesses, and should…

SFO Alliance new CEO, Jeroen Vetter, is stepping into one of private wealth’s fastest‑growing networks as the invite‑only club scales across continents and professionalizes its leadership. The London‑based organization, co‑founded by ex‑Goldman Sachs proprietary trader Lex Van Dam, named Vetter as chief executive as it accelerates membership and events for single‑family offices. Van Dam moves to executive chairman, while co‑founder Keith Johnston departs after guiding the group since launch. The move caps a rapid ascent for a platform built in 2020 that now counts more than 1,100 member firms. Each firm must oversee at least $400 million in assets, putting…

Grain futures climbed Monday as signs of progress in Washington raised hopes that the prolonged U.S. government shutdown could be nearing an end, unlocking crucial federal agricultural data that traders have lacked for weeks. Chicago benchmarks advanced across the board in morning trading. Wheat led gains, soybeans firmed, and corn edged higher as investors repositioned for a busy week that may bring both a legislative breakthrough and the return of market-moving statistics from the U.S. Department of Agriculture. The bid under prices was shaped by two storylines: a potential compromise to reopen the government and anticipation for a long-awaited monthly…

US government shutdown negotiations moved forward Monday, with Senate leaders advancing a centrist deal that could reopen federal agencies within days—even as procedural hurdles and House logistics point to a late‑week timeline. The Senate resumed deliberations at 11 a.m. in Washington but has not yet scheduled a final vote. House Speaker Mike Johnson said representatives will be given 36 hours’ notice to return once the Senate passes the bill. After congressional approval, President Donald Trump would still need to sign the measure to end the closure officially. Where the US government shutdown deal stands now A bipartisan group of moderate…

US stocks rally as investors grow hopeful that lawmakers are nearing a deal to end the longest government shutdown in history, lifting risk appetite across sectors from semiconductors to airlines. The S&P 500 advanced 1.2% by mid-morning in New York, extending Friday’s late rebound tied to renewed negotiations in Washington. The Nasdaq 100 climbed 1.9%, breaking a two-session slide as mega-cap tech and chipmakers outperformed. “The resolution of this logjam in DC is certainly a positive development,” said Matt Maley of Miller Tabak. “However, there should be some questions about how long the bounce will last.” Market Snapshot: US stocks…