SNB's Schlegel Warns Against Kneejerk Rate Moves on Negative Price Data
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The Swiss National Bank doesn't need to react to every monthly inflation reading even if it turns out to be negative, President Martin Schlegel said.
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30 minutes ago
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Departure of Reform UK chair Zia Yusuf is latest in a long line of Farage fallings-out
Delivered without warning in a 54-word tweet, Zia Yusuf's announcement that he was standing down as Reform UK's chair has seemingly come out of the blue. For close watchers of Nigel Farage's party in recent times, however, the departure of the man largely credited with 'professionalising' its operation before last year's general election performance and last month's local election breakthrough is not a shock. A self-described 'British Muslim patriot', it had not been hard to find Islamophobic commentary about Yusuf among users of Reform UK Facebook groups. Others who left the party – or who have been ejected from it – were angered by his corporate approach, which they blamed for making it a cold house for grassroots veterans and mavericks. In his 11 months as Reform's chair, Yusuf brought with him the ethos and language that might be more associated with a vibrant tech start-up than a hard-right British political party. A businessman who made a fortune from selling his luxury concierge service, Velocity Black, in 2023 for a reported $300m, Yusuf exploded on to the political scene last June by donating a six-figure sum to Farage's party. The two men had known each other for years, having met at a party hosted by the former Ukip treasurer Stuart Wheeler. In his new role at Reform, Yusuf oversaw a restructuring of the party from branch level upwards, pledging to introduce bespoke technology and enforce the tightest vetting of any political party in Britain in a bid to root out cranks and extremists. At rallies, he was a regular speaker, initially wowing the grassroots and earning the discreet praise even of political rivals. He was often one of the few non-white people in the room and was the living embodiment of Farage's insistence that Reform was not a racist party. As recently as Monday, Farage sought to fend off allegations of racism and xenophobia being levelled at Reform, by pointing out at a press conference in Scotland that his party's chair was Scottish born and had 'parents who come from the Indian subcontinent'. But there had long been rumours that all was not well in Reform, not least after the falling-out that led to the departure of its Great Yarmouth MP, Rupert Lowe. Aside from the online abuse, Yusuf is said to have been increasingly at odds with other senior figures in the party. This week's controversy over comments in parliament by Reform's newest MP, Sarah Pochin, in which she called on the prime minister to ban the burqa, appears to have been the straw that broke the camel's back. Yusuf wrote on X that it was a 'dumb' question, given that was not party policy. For some time, Farage and Yusuf appeared to be joined at the hip, frequently appearing side by side, but the party leader did not come in behind his young chair on the Pochin issue. Yusuf's tweet on X announcing his departure was as blunt as it gets. Crediting himself with having 'quadrupled Reform's membership and delivered historic electoral results', he added: 'I no longer believe working to get a Reform government elected is a good use of my time.' The response from Farage – also delivered, as custom now dictates, on X – was, on the surface, laudatory, with the leader describing him as 'a huge factor in our success'. Yet, a paternalistic tone was obvious. 'Politics can be a highly pressured and difficult game and Zia has clearly had enough,' Farage said. Looking back at the longer sweep of the Reform UK leader's political career, the parting of ways is on brand. Farage's time in charge of various parties – from Ukip to the Brexit party – has been littered with fallings-out. There is, as many of his admirers and critics agree, room for only one trailblazer at the top of any Farage-led party. However, at a time when Reform is riding high in the polls, the departure of Yusuf comes with a serious question. Could this be the thread that unravels the seemingly unstoppable Reform juggernaut?
Yahoo
2 hours ago
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4 Money Traps the Newly Wealthy Fall Into — and How To Avoid Them
Suddenly seeing more zeros in your bank account is an inexplicable feeling. Whether it's a big raise, a windfall or finally hitting your stride in business, coming into money can feel like a dream come true. But if you're not careful, that dream can quickly turn into a financial mess — fast. 'Getting rich in a hurry feels exciting, like winning a huge prize at the fair, but the rush can also make people trip over their own wallets,' said Andrew Gosselin, CPA, personal finance expert and senior contributor at SaveMyCent. Be Aware: Learn More: From lifestyle inflation to 'helping' everyone you know, the newly wealthy often fall into the same money traps. These are some of the most common pitfalls to watch out for, according to experts — and how to keep your money working for you, not against you. The first stumble, according to Gosselin, happens when spending climbs as fast as income. Forbes even called lifestyle inflation the 'silent drain on your finances.' A solid car might suddenly look old next to a shiny sports model, and a cozy house may feel small beside a mansion. But Gosselin recommended taking a deep breath before buying. 'Waiting one full day before any big purchase gives your brain time to ask whether this thing brings real joy or just quick sparkle. Saving that cash instead lets it grow into even bigger choices later,' he said. Michael Foguth, founder of Foguth Financial Group, had similar advice. 'One of the first things I tell clients who've just come into significant wealth — whether through inheritance, a business sale or a windfall — is to pause.' Check Out: A second trap is forgetting to draw a map for the money. When dollars show up without a plan, Gosselin said they tend to wander off into risky deals or sit in a low-interest account doing nothing. Writing a clear goal list helps every coin know where to go. He said a trusted professional who must put your interests first can polish that map so taxes stay low and investments spread out safely. 'Spending a little on good advice keeps you from spending a lot on mistakes,' he said. The thrill of wealth often whispers that you can double it fast, according to Gosselin. Shiny offers promise huge profits with almost no risk, yet most of these offers hide danger. Before you place money in any deal, he advised studying it until you can explain it in simple words to a friend. If it still sounds perfect, share the idea with your advisor and use only money you can afford to lose. 'Putting savings in a mix of safe bonds, broad stock funds and maybe a small slice of daring ideas keeps a fall in one area from squashing the whole pile,' he said. Family and friends may ask for loans because they know you have extra, Gosselin said. And while helping feels good, he said mixing money and love can end up twisting both. Instead, decide in advance how much you are willing to give without needing it back. If you choose to lend, put every promise on paper with dates for paying you back. Remember, saying no can feel hard, yet protecting your financial future helps everyone in the long run. 'Some people start paying for every dinner and vacation once their bank account swells,' Gosselin said. While picking up the bill once in a while is a kind gesture, doing it every time turns you into a walking wallet and can make others feel awkward. What should you do instead? Invite friends to split costs or choose fun activities that do not break the bank. 'True friends care more about shared time than fancy price tags,' he said. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard The 10 Most Reliable SUVs of 2025 Clever Ways To Save Money That Actually Work in 2025 This article originally appeared on 4 Money Traps the Newly Wealthy Fall Into — and How To Avoid Them Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Why Nebius Group Rocketed 62% Higher in May
Nebius Group is one of the premier AI "neoclouds." It reported first-quarter earnings in May, with triple-digit hypergrowth, albeit off a small base. The company also invested in Toloka, a Jeff Bezos-funded AI data start-up. 10 stocks we like better than Nebius Group › Shares of up-and-coming "neocloud" Nebius Group (NASDAQ: NBIS) rocketed 61.7% in May, according to data from S&P Global Market Intelligence. Nebius was formerly known as Yandex, the "Russian Google." However, following Russia's invasion of Ukraine and the dawn of the artificial intelligence (AI) revolution, the company divested its Russian assets and changed its name to Nebius Group in August 2024, with the goal of becoming an AI neocloud based in Europe. In May, Nebius reported its first-quarter 2025 results, showing strong hypergrowth, albeit off a very low base, due to its change in business model. Nebius also invested in a Jeff Bezos-backed AI start-up, perhaps adding to the enthusiasm. The strong results, which came on a generally very good month for AI tech companies, propelled Nebius to new heights. While Nebius' revenue is still quite small, it is just deploying all the cash it received from its divestments into new AI data centers adorned with Nebius' proprietary infrastructure servers. In his letter to shareholders, CEO Arkady Volozh noted that in the span of just three quarters, the company has expanded from one data center in Finland to now five across Europe, the U.S., and the Middle East. In the first quarter, Nebius grew revenue by 385% to $55.3 million, while adjusted (non-GAAP) net losses per share deepened by only 19%. Meanwhile, the company's annualized recurring revenue (ARR) grew at an even higher rate than revenue, up a whopping 684% to $249 million. Investors were also able to get a good sense of the company's future profit potential. While revenue grew 385%, Nebius' total gross, depreciation, and operating costs combined grew by only 96%. Given the strong results, on top of a strong recovery in AI tech stocks following the May 12 U.S.-China rollback of tariffs, it's no wonder Nebius had a strong month. In addition, on May 9, Nebius made a strategic majority investment in Toloka, an AI data solutions start-up backed by both Bezos Expeditions and Mikhail Parakhin, CTO of Shopify (NASDAQ: SHOP). Toloka is a best-in-class expert data provider, drawing from experts in over 50 fields, and is a generator of synthetic data. The company already counts top AI clouds as clients, which use Toloka's data to power their large language models. Not only did Nebius have a fine May, but it also skyrocketed another 29.4% in June, after London-based Arete Research analyst Andrew Beale initiated coverage on the stock with a whopping $84 price target -- more than double the stock's price at the time. Like peer CoreWeave, it appears Nebius is also at the front of the line when receiving Nvidia reference design systems. That should pave the way for continued strong growth. Still, with an $11.4 billion market cap, or 45 times its current ARR, Nebius' recent skyrocketing stock price appears to reflect a lot of this hypergrowth already. That being said, Arete Research's analyst apparently thinks its growth trajectory justifies that sky-high valuation -- and then some. Before you buy stock in Nebius Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nebius Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nebius Group, Nvidia, and Shopify. The Motley Fool has a disclosure policy. Why Nebius Group Rocketed 62% Higher in May was originally published by The Motley Fool
