Mark, You like the dollar. You think it's got legs. Yes, absolutely.Good morning, guys. I think this is in context that has been really boring for the last few months. You know, the dollar was a big story the first part of this year.It's been the key part of why the end of U.S. exceptionalism has been a valid theme for 2025. It's been partially through the dollar component and then partially through stocks. Market lagging only slightly.So dollar was a big part of the first of the year, probably the most one ...

I think that this is a very exciting time for private equity investing in Africa for a couple of reasons. I think what I would say is that they are the increasing interest in Africa derives from two sources. I think you've got push factors and you've got pull factors.I think on the push side, you know, in the 15 or 12 or 13 years between 2010, the global financial crisis and a couple of years ago, you know, you had real outperformance in the US and Europen, private equity. But you know, substantially all of ...

Now President Donald Trump has threatened possible U.S. military action against Islamist militants in Nigeria. That's if the West African nation's government does not stop the killing of Christians. For more, our chief Africa correspondent John Zarrella joins us from Johannesburg.I mean, just just walk us through how all of this came about and President Trump's post about Nigeria over the weekend. Great team on it. This follows a few weeks where we've been seeing a number of U.S. officials, including Senato ...

OPEC+ Strategy & Rationale - OPEC+ brought back 137,000 barrels a day to the market as expected but decided to hold off on further increases for the first three months of next year [1] - OPEC's rationale is based on monitoring the market and digesting customer demand [2] - The decision to hold off on further increases may be influenced by Russia's production capabilities due to sanctions on Rosneft and Lukoil [3][4] Market Dynamics & Oversupply Concerns - The market is moving towards an oversupplied state, despite OPEC+ increasing output since earlier this year [5] - Chinese buying, which previously helped absorb increased output, may slow down going into 2026 [6] - US output has remained strong despite WTI being in the low $60 range [7][12] Chinese Demand & Economic Factors - Analysts are watching refinery run rates and teapot purchases to determine if Chinese demand is faltering [8] - Industrial output from China needs to be monitored to assess the overall Chinese economy [9] - EV sales in China are strong, suggesting that long-term gasoline demand may not grow as it has in the past [10] - China's industrial and economic growth has not met expectations, and has not significantly pushed up oil demand [11]

Currency Swap Plans for Argentina - Discussions involve a $20 billion swap line established by the Treasury with the Argentina central bank [1][2] - Reports indicate potential FX intervention, including outright purchases of pesos and sales of dollars [1] - Treasury is reportedly working with the private sector on another $20 billion to provide longer-term funding [2] Mechanics of Swap Lines - Swap lines involve the Federal Reserve exchanging dollars for the currency of another central bank at a specified exchange rate [3] - Swap lines can range from one day to three months in maturity [4] - At maturity, the Fed receives dollars back and returns the foreign currency at the same exchange rate [4]

H-1B Visa Program Overview - H-1B visas allow skilled foreign workers into the US, requiring at least a bachelor's degree and employer sponsorship [6][7] - The US caps H-1B visas at 65,000 annually, with an additional 20,000 for US graduate degree holders, but demand significantly exceeds supply [8] - The mismatch between supply and demand has created opportunities for outsourcing companies, with nearly half of H-1B visas in 2023 going to such firms [10][11] Impact of Proposed $100,000 Fee - A proposed $100,000 fee on H-1B visas is considered a substantial increase, potentially impacting skilled workers coming to the US [2] - Concerns exist that the fee could disproportionately harm small companies and startups, hindering innovation and long-term economic growth [13][15] - Research universities may struggle to afford the fee for all deserving candidates, potentially leading to scientific innovation shifting to other countries [16] Alternative Immigration Models - Some countries, like Canada, Australia, New Zealand, and the UK, use a points-based system to prioritize skilled immigrants based on qualifications [20][21] - An auction system where firms bid on H-1B visas is suggested as a market-driven alternative to the current lottery or the proposed $100,000 fee [22] Potential Negative Consequences - Increased costs associated with H-1B visas could make US universities less attractive to foreign students [24] - Restricting access to skilled foreign talent could negatively impact US competitiveness, particularly in fields like AI [26] - Some companies, like Walmart, have already announced they will no longer sponsor H-1B applicants, indicating a potential chilling effect [17]

AI Safety & Existential Risk - The AI industry acknowledges the existential threat of super-intelligent AI potentially replacing humans [4] - Some AI companies are perceived as less responsible regarding safety, with concerns raised about Meta and OpenAI becoming less focused on safety [5] - The primary concern for many companies is the race for dominance in AI, overshadowing concerns about humanity's survival and potential societal disruption from massive unemployment [7] - There is a need for a new model of coexistence with super-intelligent AI, drawing an analogy to a baby controlling a mother, suggesting AI should prioritize human well-being [11] Economic Impact & Job Displacement - A significant amount of investment, potentially trillions of dollars, has been poured into AI development [16][17] - The primary way companies expect to profit from AI is by replacing human jobs, raising concerns about massive job displacement [18][23] - Unlike previous technological revolutions, it is unclear whether AI will create enough new jobs to offset the jobs it destroys [21][22] Geopolitical Competition - The United States is currently slightly ahead of China in generative AI development, but China's strong focus on science, technology, engineering, and mathematics (STEM) education could lead to it overtaking the US [12][13] - Actions that undermine basic research and universities in the US could inadvertently benefit China in the AI race [14] Call for Action & Potential Solutions - There is a need for something to create a sense of urgency and focus resources on AI safety, potentially a "Chernobyl" or "Cuban missile crisis" moment for AI [28][30] - International collaboration is crucial to prevent AI from taking over, as no country wants AI to dominate humanity [8]

Legal and Compliance Concerns - The investigation involved potential money laundering and operating an unlicensed money transmitting business [2] - Prosecutors requested financial transaction records dating back to 2003 from Epstein and his six businesses [3] - The investigation lasted 18 months and uncovered at least tens of millions of dollars in questionable financial transactions [3] - The probe remained open until Epstein pleaded guilty to two sex charges in state court in 2008 [4] Key Individuals and Entities - Jeffrey Epstein was under investigation for financial crimes alongside sex crimes [1] - Marie Vilifia, the lead federal prosecutor, believed Epstein should be charged with money laundering [2] - Epstein's legal team aggressively campaigned to get the financial crimes probe dropped [2] Investigation Details - The investigation was triggered by suspicious financial activities [1][2] - Prosecutors requested every financial transaction conducted by Epstein and his six businesses dating back to 2003 [3] - Prosecutors contacted one of Epstein's most important clients, which upset Epstein [3]

the country would rather not have to pay $100,000. How do you do that. You hire an American $100,000 fee is is a huge huge increase on that.This is very significant for these organizations. And just to sort of highlight how big this change is, the the fees for an H-1B visa, they've never been cheap, right. Uh so they have ranged from $3 to $10,000 uh which is not minor.That $100,000 price tag is sure to hit the highly skilled people coming to the US each year. People like Vijay Ravi. >> You can live a reall ...

Combining his love of cooking with a desire to travel led Nobu to South America where new ingredients and new techniques shaped his culinary style. Peru is maybe first country inspired me to, how can I use the different ingredients. First time we went to Peru trying to culture food.I never had this ingredients never used in Japan. Kind of like wow and cilantro, chilli, garlic and olive oils and it's a lot of good seafood. Then completely different way.Example, they have the fresh fish, but Japan, the fresh ...