May 21, 2025 at 6:53 AM EDT
Bloomberg Terminal outage brings finance to a halt.
The $28,000-per-year service delivers live pricing, data, and analytics on stocks and bonds, and the Financial Times describes it as 'the gold standard for the financial services industry.' A near two-hour outage this morning left traders unsure what to do with themselves, delaying an auction of UK government debt and a sale of Swedish bonds.
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12 hours ago
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Top food critic delivers verdict on the massive Stockport Pyramid curry buffet
Top food critic Jay Rayner has given his verdict on the Royal Nawaab Stockport. After writing for the Observer for 25 years, he recently moved to the Financial Times, and has dined in some of the finest restaurants in the country. And in his latest column for the broadsheet paper, published today (June 7), Rayner described his visit to Stockport's newest and flashiest curry buffet. READ MORE: Exact time the Red Arrows will fly over the North West this afternoon READ MORE: Discounts and a deserted car park - what's going on with the Trafford Centre's Premium Parking? The gargantuan restaurant and events space opened its doors to much fanfare in April of this year. The pyramid itself, formerly occupied by the Co-Op bank, underwent an enormous renovation to the tune of some £15 million, with an aesthetic Rayner describes as 'classy cruise ship'. The M.E.N's Adam Maidment visited the restaurant on its soft opening and praised the food and decor - even if the enormous scale and bustling crowd of diners was a little 'chaotic'. The space now encompasses three banqueting suites accommodating over 1,000 people and a buffet restaurant with over 400 covers that Rayner said was full when he visited - he had to rely on a local connection to get him a table. Rayner wrote that he was immediately 'clocked' as a reviewer by the restaurant, after which the staff were especially assiduous: "It was a chorus of 'Let me bring you the lamb chops' and 'You must try our nihari' and 'You need three types of naan'". He, too, raised his eyebrows at the scale of the operation which 'laughs in the face of the challenges facing hospitality', writing: "There are, on any given day, more than 100 dishes; a parade of pakoras and tikkas, birianis, masalas and the rest - a startling array. But ultimately the critic heaped warm praise on the food. Setting out his stall as no big fan of buffets, he conceded: "That meagre word doesn't do justice to the gargantuan offering here." "Perfect, bursting mouthfuls" of pani puri as a starter 'set the standard' for the evening, Rayner wrote, describing them as "delicate lentil flour globes filled with nutty chaat alongside jugs of a tamarind-based dressing". "Lamb chops, cut thin, have a decent smoky char. Deep-fried masala-marinated fish is especially good. " Then moving on from grilled items to the curries, he praised more familiar curry house favourites like the lamb nihari: "One of the great dark stews, heavy with green and black cardamom". But he also praised the variety of the dishes on offer. "What's striking is that, while there are crowd-pleasers, the kormas and tikka masalas with broad appeal, it's not all obvious," he wrote. "Lamb paya, a new dish to me, brings lamb trotters, cooked low and slow until chewy and lightly gelatinous, and served in an intensely restorative soup-like broth. "They also have haleem, an extraordinary concoction of lamb in lentils flavoured with ginger, green chillies and lemon, cooked down for so long that it has turned into a paste-like soup. "With this we have blistered Peshawari naan, the almond and pistachio filling dyed a disconcerting pink, alongside still-warm garlic and kulcha naan, crusted with sesame seeds." Rayner noted that there were some non-Asian items on offer as well, including chicken nuggets and lasagne. "But generally, the turnover of fried items is so fast they don't get a chance to go soggy." This was followed by a mouth-watering description of the desserts on offer: "deep-frying curls of cough-sweet-coloured jalebi" and "dinky globes of syrup-soaked gulab jamun, which are served still warm." Concluding by describing it "a remarkable operation", he wrote: I've sneered at the idea of buffets in the past, called them the place where good taste goes to die, and many of them are. "But the Royal Nawaab is a classy rebuttal."
Yahoo
15 hours ago
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Wall Street Has a New Secret Code for Laughing Behind Donald Trump's Back
Wall Street traders have adopted a term to mock President Trump's flip-flopping trade policy. TACO, an acronym that stands for 'Trump Always Chickens Out,' was coined by Financial Times columnist Robert Armstrong. It has since become a favorite among stockbrokers. Simply put, the tongue-in-cheek term describes how markets dip on President Trump's tariff threats, only to rebound when he inevitably reverses course. In the latest example, markets rallied earlier this week after Trump delayed the 50 percent tariff on the European Union that he had threatened just days earlier. In response to his relenting, the S&P 500 posted its biggest gain in weeks. Speaking on MSNBC Tuesday, Australian economist Justin Wolfers mocked Trump by saying this tariff policy 'nearly lasted one entire long weekend.' 'He was a little unlucky. There was Memorial Day, extended the weekend to three days, and you couldn't have a tariff policy last a full weekend. So, Friday's policy was reversed by Monday. And so, we get to analyze it today on Tuesday. And I think that's really symptomatic,' he said. Suggesting that Trump's word is worth very little in certain circumstances, including tariff threats, Wolfers used the example of Wall Street's new favorite acronym. 'In fact, on Wall Street right now, and it's one level funny and another level tragic. There's a trade called the TACO trade, T-A-C-O, Trump Always Chickens Out,' he said. Wolfers had said Trump's word now lacks 'credibility.' 'There was a time when the president opened his mouth, when you had to pay attention because you thought it meant something, that it was a shift in policy that other countries could rely on and respond to. That's no longer the case,' he said. Salomon Fiedler, an analyst from German bank Berenberg, is just one of many speculators who now say they are happy to wait it out when Trump makes a threat. 'Wild threats by Trump are not unusual,' he wrote in a note last month, when the president 'paused' the super-charged 'Liberation Day' duties he imposed on a slew of countries. 'Given the damage the U.S. would do to itself with this tariff, he will probably not follow through.' Trump paused the duties to allow his economic buffs to secure renewed deals with dozens of nations. So far, only the United Kingdom and China have inked any sort of agreement. Sign in to access your portfolio
Yahoo
20 hours ago
- Yahoo
Why Warren Buffett Said A Man You've Probably Never Heard Of 'Has Done Probably More For The American Investor Than Any Man In The Country'
Warren Buffett's name carries the same weight in the world of investing that Michael Jordan's carries in the world of professional basketball. Like Jordan, Buffett is widely regarded as one of, if not the best, of all time. So, why does Buffett credit a man you've probably never heard of as having "done more for American investors than anyone else in the country"? Buffett was referring to Vanguard founder Jack Bogle. Vanguard offers some of the investing world's most highly respected and best-performing investment funds. Vanguard's offerings are available in a wide variety of sectors. They work by tracking some of the world's largest indexes and bundling stocks into one diverse package. This allows retail investors to earn passive income or grow wealth through a diversified fund without having to become market experts themselves. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Maximize saving for your retirement and cut down on taxes: . Diversifying investment is a critical element of building a quality portfolio. However, diversification was much easier said than done before Bogle helped make Vanguard a household name. Retail investors who wanted to build investment portfolios by themselves had to become knowledgeable in multiple investment sectors. Then they had to identify stocks with growth or upside potential and track them constantly to figure out when to buy, hold, or sell. Aside from that, an investor's best option was to buy into a hedge fund, which brought about a different set of complications. First, they were not always available to non-accredited investors. Second, many of the best hedge funds had high fees that ate up a significant portion of any passive income or profits the fund generated. Buffett, who has always been known for his frugality and pragmatism, was never a big fan of hedge funds. Trending: Invest where it hurts — and help millions heal:. Buffett was vocal about his preference for passive index funds like Vanguard's because they offered similar performance to hedge funds without the high fees. Buffett believed that index funds offered better returns once management and trading fees were taken out of investor profits from hedge fund investments. Buffett's convictions were so strong that he famously "put his money where his mouth was" in 2008. He made a $1 million challenge to any hedge fund manager who could beat the returns he generated by investing in passive index funds over a decade. Tom Sedies, who was managing Protegee Funds at the time, took Buffett up on his bet, and the race was on. Buffett chose Vanguard's S&P 500 index fund, while Sedies relied on a combination of five hedge funds. By the time it was over, the Financial Times reported that the Vanguard fund Buffett chose had returned 126%, while Sedies' hedge funds only generated 36% returns during the same period. Buffett planned to make the results public at his Berkshire-Hathaway (NYSE: BRK.A, BRK.B) shareholders' meeting, but he also invited proclaimed Bogle "has probably done more for the American investor than any man in the country,' during his keynote speech. 'I estimate that Jack, at a minimum, has saved and left tens and tens and tens of billions into their pockets, and those numbers are going to be hundreds and hundreds of billions over time," Buffett continued. It was high praise considering the source. Buffett's endorsement put index funds on the map in a way that they hadn't been before. It helped pave the way for Vanguard to become a household name and gave millions of investors an alternative to expensive hedge funds. Buffett had long crusaded against high management fees, and Bogle helped him show investors there was an equally effective way to diversify their holdings. Read Next: Here's what Americans think you need to be considered wealthy. Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Why Warren Buffett Said A Man You've Probably Never Heard Of 'Has Done Probably More For The American Investor Than Any Man In The Country' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
