Stocks Rise as Trump Says ‘Buy' Before China Talks
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are John Belton, Gabelli Funds, Greg Fleming, Rockefeller Capital, Peter Supino, Wolfe Research, Gerrit Marx, CNH CEO, Michael Regan, Bloomberg, Kailey Leinz, Bloomberg News, Aoifinn Devitt, Moneta, Peter Tchir, Academy Securities, Gary Vaynerchuk, Vaynermedia, Monica Guerra, Morgan Stanley, Ryan Serhant, Serhant Founder & CEO, Niki Leondakis, CorePower Yoga. (Source: Bloomberg)
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Manitoba sees growth from interprovincial migration for 1st time since 2004
More people moved to Manitoba from other parts of Canada than left during the first quarter of 2025 — a feat the province hasn't accomplished in a quarter since 2004. New data from Statistics Canada says the province benefited from interprovincial migration during the first three months of the year, gaining 106 more people from other provinces and territories than it lost to other jurisdictions. During that period, 4,352 people moved to Manitoba from elsewhere in Canada, while 4,246 people moved away. However, Manitoba's total population rose at its lowest quarterly rate since 2020, as a result of federal policies to curb immigration levels. The province had an estimated population of nearly 1.51 million as of April 1, according to Statistics Canada. Manitoba historically loses more people to interprovincial migration than it gains, but the population still consistently grows on an annual basis, mainly through immigration from other countries. There was a net loss of between 3,500 to 7,000 people annually for the first half of the 2010s, but that number began to grow in later years, aside from a pandemic blip that curtailed travel around the world. It was more than two years ago, in 2022-23, when Manitoba saw a net loss of more than 9,000 people — the highest deficit in decades. In 2024-25, the province lost 2,481 people to interprovincial migration, according to demographic estimates from the Manitoba government. The NDP government took partial credit for Manitoba's interprovincial net gain from the first three months of 2025. Labour and Immigration Minister Malaya Marcelino said the government has been focused on attracting skilled workers and reducing trade barriers. Marcelino said in a news release that Manitoba is a "welcoming province," attracting people because "our economy is strong and there are opportunities to build a good life." Last year, Premier Wab Kinew suggested his government was open to the possibility of tax credits or incentivizing economic development to counteract the province's long-term interprovincial exodus. Kinew said the government can "move the needle" by growing the economy, creating more jobs, maintaining a low cost of living and extolling the province's draws, such as its arts scene. Lower immigration slows growth While Manitoba saw an increase in migrants from other Canadian jurisdictions in early 2025, the province's population increased by 0.2 per cent — its lowest quarterly rate since 2020, when the COVID-19 pandemic depressed population growth. Manitoba saw a net gain of 2,749 migrants from other countries, which is down from the increase of nearly 4,200 reported in the last quarter of 2024. The lower immigration numbers reflect the federal government's decision in 2024 to clamp down on arrivals from other countries. Canada's population rose by 20,107 people from Jan. 1 to April 1, the smallest increase since the third quarter of 2020 and an increase so small that it amounted to 0.0 per cent growth, Statistics Canada said. Immigration still accounted for all of the national population growth, as there were 5,628 more deaths than births in Canada.
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As federal funding cuts hit Harvard, a private investment firm and other donors step up
At a time when Harvard University is experiencing deep cuts to its federal funding and looking for alternative avenues for money, Turkish investment firm, İş Private Equity, committed $39 million over 10 years to support a Harvard faculty member's lab, according to the university. The investment, through the private equity firm's biotech startup, is aimed at Harvard T.H. Chan School of Public Health faculty member Gökhan Hotamışlıgil's work, aiming to create potential therapies for obesity and other metabolic diseases. Read more: Federal judge delays decision over Trump admin barring Harvard foreign students The privately sourced funding could be a highly pursued avenue for the institution, as the federal government strips nearly $3 billion of its federal dollars and additional contracts in the name of addressing antisemitism. 'Harvard Chan School has long welcomed industry collaborations and research sponsorship, with strong guardrails to prevent conflicts of interest,' Andrea Baccarelli, Dean of the Faculty at Harvard Chan School, wrote in a letter to the community last week. Initial funding of Hotamışlıgil's more than 20 years of work came from the National Institutes of Health. It helped uncover new insights about the metabolic system and identified a protein that plays a critical role in obesity and age-related disorders, according to the university. The lab didn't have any current federal grants canceled at the time of the investment firm's announcement, a university spokesperson said. Harvard has also been dealing with a wave of federal research grant terminations and was barred from acquiring new federal grants. While a federal judge on Monday ordered that the Trump administration restore 367 National Institutes of Health grants, it doesn't apply to a broad swath of grants, including the large numbers at Harvard. The Harvard Chan School announced in April that it was facing a 'significant budget crisis' resulting in layoffs and the non-renewal of two building leases. Since then, every one of the school's direct federal grants have been terminated and the school has even taken to social media to ask for donations. Federal funding makes up 46% of Harvard Chan School's budget. At the same time as the investment firm is putting money into Harvard, others have been pitching in as well. Donors have contributed more than $3.5 million in recent weeks and alumni and members of the public have raised $350,000 for Harvard Chan School, according to a letter from Dean Baccarelli. 'Each contribution is a vote of confidence in our mission, our people and our future,' she said. The school also created a new Dean's Leadership Fund for existing donors to support. 'Harvard Chan School will emerge from this crisis a focused, resilient and unambiguously world-class school of public health, dedicated to excellence and impact and strengthened by surprising, solutions-focused partnerships," she wrote. 20 NIH grants restored to UMass system after judge rules against Trump admin Trump admin asks court to rule against Harvard without a trial Federal judge orders Trump admin to reinstate hundreds of NIH grants Federal judge delays decision over Trump admin barring Harvard foreign students Harvard's Monday court date will be important for international students. Here's why Read the original article on MassLive. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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an hour ago
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Credit scores will drop for more student loan borrowers, data shows
Imagine your credit score suddenly dropping by 63 points. For more than four million federal student loan borrowers, that's no nightmare. It's a wake-up call. In fact, a 63-point drop was just the average. Many of these borrowers experiencing a serious delinquency — at least 90 days late on a payment — in early 2025 saw their credit score drop by 42 to 175 points, according to a May analysis by the credit bureau TransUnion. And no one is immune. Borrowers with strong credit histories and cleaner credit reports saw their scores drop the most, by up to three figures. Even scarier? These borrowers could soon have more company. Some of the nearly eight million enrolled in the decaying SAVE Plan may soon face delinquency. So too could borrowers who have been struggling to enroll in income-driven repayment (IDR) plans. 'We're just waiting for them to be reported — we're calling those the shadow delinquencies,' says Michele Raneri, TransUnion vice president of financial services research and consulting. Yes, more than one in every five federal student loan borrowers in active repayment — 20.5 percent of about 19.6 million individuals — are three months or more late on their monthly dues. That's an all-time high, according to TransUnion, in part because Raneri says her team filtered out millions of federal loan borrowers who don't have an active payment due date. According to the Department of Education's own figures, that means more than five million borrowers are in default (270 or more days tardy), and as many as 10 million could be this summer. Being in default hits your credit, but it can also mean wage garnishment and forfeiture of federal tax refunds and Social Security benefits, among other consequences. 'So everything indicates that [this] is just the first group' to be reported, Raneri says. Related: We're facing a student loan default crisis. This academic research might help As mentioned, 20.5 percent of borrowers are 90 or more days delinquent (as of February 2025), but that figure pales in comparison to the 11.5 percent who were similarly tardy five years ago. Secretary of Education Linda McMahon places the blame squarely on colleges and universities, but the COVID-19 pandemic-inspired repayment pause and the last half-decade's fallout undoubtedly play a role, student loan payments are paused, borrowers saw their credit scores increase by an average of 74 points, thanks to the pause, according to the New York Federal Education Department announces 'Fresh Start,' removing the default status on credit reports for about 7.5 million defaulted Education Department calls for the resumption of monthly loan servicers begin reporting 90-days-or-more delinquencies to the credit Education Department resumes debt collection for federal loan defaults. In case you'd like a refresher, payment history is the single biggest determinant of your credit score. For FICO scores, for instance, whether you're on time or tardy with debt payments accounts for 35 percent of your score composition. That explains why borrowers have seen their scores fall so precipitously. Credit score before defaulting Average credit score drop after default (pts) 300 to 600 42 601-660 64 661-720 99 721-780 121 781 plus 175 Though borrowers with super-prime credit are the least vulnerable cohort, their path back to excellent credit won't be easy, Raneri says. 'They probably didn't have a 90-day-past-due on any [account] in the last seven years,' she says. 'And so it's difficult to come out and still become a super-prime again… And it'll take a couple of years probably for that to be in the rearview mirror, for it to fade away enough for it to bring the[ir score] back up.' Unsurprisingly, the lower your credit score, the more likely you have fallen behind in repayment. However, over the past half-decade, higher-credit borrowers have seen the biggest jump into delinquency. Percent of borrowers who are at least three months past due on a federal loan February 2020 February 2025 Percent change 300 to 600 38.8% 50.8% 31% 601 to 660 9.1% 23.3% 156% 661 to 720 1.3% 7.5% 477% 721-780 0.1% 2.1% 2,000% 781-plus 0.1% 0.9% 800% Spoiler alert: What's good for your student loan repayment is mutually beneficial for your credit report and score. Rehabilitate a defaulted loan, and your credit will thank you. Make a series of on-time payments toward your outstanding balance, and your score should increase over time. Of course, it's all easier said than done. And it can be overwhelming when you're wondering where to start. She continues, 'And so, if you have a fear of your credit, then you need to buckle down and just do it because it's not going to just go away. And I feel like there [are] people who with these student loans are kind of gambling with their credit score, thinking that maybe some [relief] is going to come through and it's not going to affect them. And by the time that you see it, it's probably too late. And then you have to start repairing it.' Take it from a certified student loan counselor: The important thing is to get moving. Here are some initial steps to take if your repayment has gone awry or requires a reset: Create or update your budget. It's the best way to understand your cash-flow, minimize unnecessary experience and set priorities, whether for your student loan or other debt payments. Reacquaint yourself with your education debt. You might log into your account (or your private lender's portal) to check your outstanding balances, interest rates and repayment status. Ask for help. While it's critical to be your own expert on your student loan accounts, it's always wise to request assistance. If you're disappointed in your federal loan servicer or private lender, talk to a certified counselor, student debt lawyer or organizations that offer student loan help. Settle on a strategy. Once you know where you stand and are aware of your education debt payoff options, picking a lane will ensure you keep moving toward the finish line. With that said, changes to your cash-flow could necessitate switching tactics down the road. Start or resume monitoring your credit. As you're getting more confident about handling your outstanding loans, track the improvement of your credit score. That can be gratifying and motivate you to stay on track to the bitter end. How to find help The National Foundation for Credit Counseling or your state's student loan ombudsperson are potential starting points. 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