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Yahoo
7 minutes ago
- Yahoo
Lufax Holding (LU) Up on 4th Day After NPL Sale Strategy
We recently published . Lufax Holding Ltd. (NYSE:LU) is one of the best-performing stocks on Thursday. Lufax Holdings extended its winning streak to a fourth straight day on Thursday, jumping 5.68 percent to close at $3.35 apiece as investor sentiment was bolstered by the company's asset sale strategy to rid itself of non-performing loans. Earlier this week, Lufax Holding Ltd. (NYSE:LU), through its subsidiary Ping An Consumer Finance, entered into an asset transfer agreement with Shenzhen China Merchants Ping An Asset Management for the sale of 469 million yuan worth of non-performing debts for a consideration of 36.44 million yuan. The transfer of claims will effectively reduce the credit risk for Lufax Holding Ltd. (NYSE:LU), which announced earlier this year that it was able to narrow its total outstanding loans by 18 percent to 193.4 billion yuan from 235.2 billion yuan previously. Lufax Holding Ltd. (NYSE:LU) is a dual-listed financial services company based in China, whose trading remains suspended on the Hong Kong Stock Exchange pending regulatory issues. While we acknowledge the potential of LU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Newsweek
9 minutes ago
- Newsweek
Donald Trump To Release Billions In Frozen Funds: What To Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. More than $5 billion in frozen education grant funding to the states will be released in the coming weeks, according to the Department of Education. The money, which was used to found a range of initiatives including teacher training and English language programs, was suspended by the Trump administration on June 30 pending a review by the federal Office of Management and Budget. Newsweek contacted the Department of Education for comment on Saturday via email outside of regular office hours. The Context The announcement follows weeks of lobbying from both Democratic and Republican lawmakers concerned about the impact the funding suspension would have on their districts. Lawsuits aiming to get the money unfrozen had been submitted by 24 states and the District of Columbia along with a separate group of teaching unions, school districts and parents. What To Know On Friday, the Department of Education spokesperson Madi Biedermann said the funding had been unfrozen and would begin being paid out next week. The money was part of a larger sum of nearly $7 billion that had been approved by Congress for education spending and was due to be released on July 1, but that the Trump administration announced it had placed a block the previous day. On June 30, the Education Department announced the spending was under review with the Office of Management and Budget saying it would investigate whether it had previously been spent supporting a "radical left-wing agenda." President Donald Trump speaks to the media as he arrives at Glasgow Prestwick Airport on July 25, 2025 in Prestwick, Scotland, UK. President Donald Trump speaks to the media as he arrives at Glasgow Prestwick Airport on July 25, 2025 in Prestwick, Scotland, UK. Andrew Harnik/GETTY The money had been earmarked for a number of services including migrant education, English language programs and adult education with $2.2 billion committed to teachers' professional development. On Friday the administration said there would be "guardrails" in place to ensure the released money wasn't spent "in violation of executive orders or administration policy." Earlier this month the Supreme Court ruled the Department of Education can go ahead with its plan to lay off nearly 1,400 workers. The Trump administration reportedly considered abolishing the Department of Education in its entirety earlier this year. What People Are Saying In a post on X, Nebraska House Republican Don Bacon wrote: "Exciting news to announce! All frozen education funding for the upcoming school year have been released." Referring to the payments on Friday at the National Governors Association's summer meeting Education Secretary Linda McMahon said: "I would think now that we've reviewed them … a year from now, we wouldn't find ourselves in the same situation." Addressing The Washington Post Democratic Senator Patty Murray said: "This administration deserves no credit for just barely averting a crisis they themselves set in motion. "You don't thank a burglar for returning your cash after you've spent a month figuring out if you'd have to sell your house to make up the difference." Speaking to Axios Republican Senator Shelley Moore Capito said: "The programs are ones that enjoy long-standing, bipartisan support like after-school and summer programs that provide learning and enrichment opportunities for school aged children, which also enables their parents to work and contribute to local economies, and programs to support adult learners working to gain employment skills, earn workforce certifications, or transition into postsecondary education." Skye Perryman, president of the Democracy Forward campaign group, said: "While this development shows that legal and public pressure can make a difference, school districts, parents, and educators should not have to take the administration to court to secure funds for their students." What Happens Next Payments from the frozen funding should start going out next week according to the Department of Education.
NBC News
9 minutes ago
- NBC News
Why a 'mini Trump' is breaking through in Japan
TOKYO — As President Donald Trump's tariffs add to a sense of uncertainty in Japan, more voters here are embracing an idea inspired by their longtime ally the United States: 'Japanese first.' The nationalist slogan helped the right-wing populist party Sanseito make big gains in Japan's parliamentary elections on Sunday, as it capitalized on economic malaise and concerns about immigration and overtourism. Party leader Sohei Kamiya, who since 2022 had held Sanseito's only seat in the upper house of Japan's parliament, will now be joined by 14 others in the 248-seat chamber. It's a far cry from the party's origin as a fringe anti-vaccination group on YouTube during the Covid-19 pandemic. Though Japan has long had a complex relationship with foreigners and its cultural identity, experts say Sanseito's rise is another indication of the global shift to the right embodied and partly fueled by Trump, with populist figures gaining ground in Europe, Britain, Latin America and elsewhere. Kamiya 'fancies himself a mini-Trump' and 'is one of those who Trump has put wind in his sails,' said Jeff Kingston, a professor of Asian studies and history at Temple University's Japan campus. Speaking at a rally on Saturday at Tokyo's Shiba Park, Kamiya said his calls for greater restrictions on foreign workers and investment were driven not by xenophobia but by 'the workings of globalization.' He criticized mainstream parties' support for boosting immigration in an effort to address the labor shortage facing Japan's aging and shrinking population. 'Japan is still the fourth-largest economy in the world. We have 120 million people. Why do we have to rely on foreign capital?' Kamiya told an enthusiastic crowd. The election results were disastrous for Japanese Prime Minister Shigeru Ishiba, who is facing calls to resign now that his conservative Liberal Democratic Party — which has ruled almost uninterrupted since the end of World War II — has lost its majority in both houses of parliament. The Japanese leader had also been under pressure to reach a trade deal with the Trump administration, which said Tuesday that the two sides had agreed to a 15% U.S. tariff on Japanese goods. On Wednesday, Ishiba denied reports that he planned to step down by the end of August. The message from his party's string of election losses is that 'people are unhappy,' Kingston said. 'A lot of people feel that the status quo is biased against their interests and it advantages the elderly over the young, and the young feel sort of resentful that they're having to carry the heavy burden of the growing aging population on their back,' he said. Kamiya, 47, an energetic speaker with social media savvy, is also a strong contrast to leaders such as Ishiba and the Constitutional Democrats' Yoshihiko Noda, both 68, who 'look like yesterday's men' and the faces of the establishment, Kingston said. With voters concerned about stagnating wages, surging prices and bleak employment prospects, 'the change-makers got a lot of protest votes from people who feel disenfranchised,' he said. Sanseito's platform resonated with voters such as Yuta Kato. 'The number of [foreign immigrants] who don't obey rules is increasing. People don't voice it, but I think they feel that,' the 38-year-old hairdresser told Reuters in Tokyo. 'Also, the burden on citizens including taxes is getting bigger and bigger, so life is getting more difficult.' The biggest reason Sanseito did well in the election, he said, 'is that they are speaking on behalf of us.' Kamiya's party was not the only upstart to benefit from voter discontent, with the center-right Democratic Party for the People increasing its number of seats in the upper house from five to 16. Sanseito, whose name means 'Participate in Politics,' originated in 2020 amid the Covid-19 pandemic, attracting conservatives with YouTube videos promoting conspiracy theories about vaccines and pushing back against mask mandates. Its YouTube channel now has almost 480,000 subscribers. The party has also warned about a 'silent invasion' of foreigners in Japan, where the number of foreign residents rose more than 10% last year to a record of almost 3.8 million, according to the Immigration Services Agency. It remains far lower as a proportion of the population than in the U.S. or Europe, however. Critics say such rhetoric has fueled hate speech and growing hostility toward foreigners in Japan, citing a survey last month by Japanese broadcaster NHK and others in which almost two-thirds of respondents agreed that foreigners received 'preferential treatment.' At the Sanseito rally on Saturday, protesters held up signs that said 'No Hate' and 'Racists Go Home.' Kamiya denies that his party is hostile to foreigners in Japan. 'We have no intention of discriminating against foreigners, nor do we have any intention of inciting division,' he said Monday. 'We're just aiming to firmly rebuild the lives of Japanese people who are currently in trouble.' Despite its electoral advances, Sanseito doesn't have enough members in the upper house to make much impact on its own and has only three seats in the more powerful lower house. The challenge, Kingston said, is whether Kamiya can 'take this anger, the malaise, and bring his show nationwide.'
