Business
Head of Harvard’s $57 billion endowment, plans to retire, WSJ reports
Business
Weekly Indicators: A Negative Steepening Of Bond Yields And (Maybe) Shipping Rates
Weekly Indicators: A Negative Steepening Of Bond Yields And (Maybe) Shipping Rates
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Markets Weekly Outlook: The Kevin Warsh Repricing And Inflation Points
Markets Weekly Outlook: The Kevin Warsh Repricing And Inflation Points
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Pope to visit UNESCO, hit by Trump cuts, during September trip to France

Pope to visit UNESCO, hit by Trump cuts, during September trip to France
Business
The REIT Repricing Cycle Is Nearing A Turning Point
Jussi Askola is the President of Leonberg Capital, a value-oriented investment boutique that consults hedge funds, family offices, and private equity firms on REIT investing. He has authored award-winning academic papers on REIT investing, has passed all three CFA exams, and has built relationships with many top REIT executives.
He is the leader of the investing group High Yield Landlord, where he shares his real-money REIT portfolio and transactions in real-time. Features of the group include: three portfolios (core, retirement, international), buy/sell alerts, and a chat room with direct access to Jussi and his team of analysts to ask questions. Learn more.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of SBAC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
Trump says Xi agrees Iran must open strait, China says war should not have started

Trump says Xi agrees Iran must open strait, China says war should not have started
Business
Congressman Onboard American Airlines Jet in Emergency Landing After Smoke Detected
WASHINGTON — An American Airlines flight carrying a U.S. congressman made a dramatic emergency landing Thursday after smoke was detected in the cabin, prompting an urgent evacuation and swift response from emergency crews at a major East Coast airport.
Flight AA-2147, a Boeing 737 operating from New York’s LaGuardia Airport to Washington Reagan National Airport, diverted safely to Philadelphia International Airport shortly after takeoff when the crew reported smoke in the forward galley area. No injuries were reported among the 142 passengers and six crew members, but the incident triggered a full emergency response including fire trucks, hazmat teams and multiple ambulances.
Rep. Michael Thompson, a Democrat from California who serves on the House Transportation Committee, was among those onboard. Thompson later described the experience as “unsettling but handled professionally,” praising the flight crew for their calm demeanor during the crisis. “There was a noticeable smell of smoke, and the pilots acted quickly and decisively,” he said in a statement released by his office. “I’m grateful to the crew and first responders who ensured everyone’s safety.”
Rapid Response and Safe Evacuation
According to preliminary reports from the Federal Aviation Administration, the crew detected the smoke approximately 25 minutes into the flight. The captain declared an emergency and requested priority landing at Philadelphia, the nearest suitable airport. Passengers described a controlled but tense atmosphere as the plane descended, with flight attendants instructing everyone to remain seated and prepared for a possible evacuation.
Upon landing, the aircraft was met by emergency personnel who conducted a thorough inspection. Firefighters used thermal imaging to check for hidden fire sources while ground crews examined the electrical systems and galley equipment. Officials later confirmed the smoke originated from an overheated coffee maker in the forward galley, a relatively common but potentially serious issue if left unaddressed.
All passengers were safely deplaned via jet bridges and buses. Several individuals received precautionary medical evaluations for smoke inhalation, but none required hospitalization. American Airlines issued a statement expressing regret for the inconvenience and confirming that the aircraft was removed from service for detailed maintenance and safety checks.
Congressman’s Role Draws Extra Attention
The presence of Rep. Thompson, who chairs a subcommittee overseeing aviation safety, added a layer of public interest to the incident. Thompson told reporters he plans to use the experience to advocate for stronger cabin air quality standards and improved smoke detection systems on commercial aircraft. “This was a reminder that even routine flights can present unexpected challenges,” he said. “We must continue pushing the industry and regulators to prioritize passenger safety above all else.”
Aviation safety experts noted that while smoke events are uncommon, they represent one of the most serious in-flight emergencies due to the potential for rapid fire spread in a pressurized environment. Modern aircraft are equipped with advanced smoke detectors and fire suppression systems, which appear to have functioned as designed in this case.
Investigation Underway
The FAA and National Transportation Safety Board have launched a joint investigation into the incident. Investigators will examine the coffee maker unit, review cockpit voice and data recorders, and interview crew members. American Airlines is cooperating fully and has grounded similar aircraft models for precautionary inspections of galley equipment.
This is the second reported smoke-related incident involving American Airlines this year. In March, a different flight experienced minor smoke from an overhead bin that was quickly contained. While neither event resulted in injuries, aviation safety advocates say repeated occurrences highlight the need for better maintenance protocols on aging aircraft components.
Passenger Experiences and Reactions
Passengers described varying levels of concern during the emergency descent. “At first we thought it was just a weird smell, but when the oxygen masks didn’t drop and the crew stayed calm, we knew they had it under control,” said one traveler who asked not to be named. Several others praised the flight attendants for maintaining order and providing clear instructions.
Social media quickly filled with passenger videos and accounts. One clip showing the plane’s smooth emergency landing has already been viewed millions of times. The hashtag #AASmokeEmergency trended briefly as users shared their experiences and expressed relief that the situation ended safely.
Broader Context of Airline Safety
American Airlines operates one of the largest fleets in the world and maintains a strong overall safety record. The company has invested heavily in pilot training and modern safety technology following several high-profile incidents in recent years. Thursday’s event, while serious, appears to have been handled according to strict FAA protocols.
The incident occurs amid heightened scrutiny of the aviation industry following several near-misses and equipment issues across carriers. The FAA has increased oversight of maintenance procedures, particularly for older aircraft still in service. Boeing, the manufacturer of the 737 involved, declined immediate comment but said it stands ready to assist with the investigation.
What Happens Next
Passengers were rebooked on alternative flights or offered hotel accommodations and compensation per airline policy. American Airlines said it expects most customers to reach their destinations by Friday morning. The affected aircraft will undergo extensive testing before returning to service.
For Rep. Thompson, the experience may inform future legislation on aviation safety. He has previously sponsored bills aimed at improving cabin air quality and modernizing emergency response procedures. Industry observers expect him to use this incident to push for faster adoption of advanced smoke detection and suppression systems across commercial fleets.
The safe outcome of Thursday’s emergency landing highlights the effectiveness of modern aviation protocols when followed correctly. While the event caused significant disruption and anxiety for those onboard, the professional response from the crew and first responders prevented what could have been a much more serious situation.
As the investigation continues, both American Airlines and federal regulators will work to determine whether this was an isolated mechanical issue or part of a larger pattern requiring industry-wide attention. For now, the focus remains on ensuring all passengers and crew are safe and that similar incidents are prevented in the future.
The aviation industry continues to maintain an excellent overall safety record, with millions of flights completed safely each year. Thursday’s event, while concerning, ultimately demonstrated the systems in place to protect passengers when unexpected situations arise. Both travelers and industry professionals will be watching closely for the final findings from investigators.
Business
Gen Z shoppers fuel mall comeback with $12 trillion spending potential
FOX Business correspondent Madison Alworth reports on new data showing Generation Z retail spending outpacing other generations on ‘Varney and Co.’
Gen Z shoppers are helping fuel a new chapter for America’s malls as younger consumers increasingly favor in-person shopping experiences over simply filling online carts. Their spending habits are becoming a major focus for retailers and mall operators looking to adapt to changing consumer behavior.
FOX Business’ Madison Alworth joined FOX Business’ Stuart Varney on “Varney & Co.” to report on how malls are redesigning spaces and adding new experiences aimed at younger shoppers, from social media-friendly dressing rooms to activities like indoor rock climbing walls.

Shoppers at a mall in Glendale, California, U.S. (Kyle Grillot/Bloomberg / Getty Images)
BURLINGTON TO OPEN OVER TWO DOZEN NEW STORES ACROSS COUNTRY IN MAY
According to data firm NielsenIQ, Gen Z retail spending is expected to surpass $12 trillion globally by 2030, with growth outpacing every other generation. Data from Circana also found shoppers between 18 and 24 years old made 62% of their general merchandise purchases in physical stores last year, compared to 52% among consumers 25 and older.
A ‘Mornings with Maria’ panel discusses the markets, the impact from the Spirit Airlines collapse and the resiliency of the U.S. economy.
Those trends come as broader retail spending has remained resilient despite ongoing economic uncertainty. U.S. retail sales rose 0.5% in April from the previous month and climbed 4.9% year over year, according to Commerce Department data released Thursday, showing consumers are still spending even as higher interest rates continue pressuring household budgets.
Macerich Executive Vice President of Asset Management Cory Scott said younger shoppers are increasingly prioritizing experiences alongside purchases.
WALMART CUTTING OR RELOCATING ABOUT 1,000 CORPORATE JOBS
“They value experiences almost more than they value material things. So it’s as much about the journey as the shopping and the things that they’re taking home with them,” Scott said.
‘The Big Money Show’ panelists discuss how Gen Z is increasingly opting for skilled trades over college degrees and desk jobs, as well as new brokerage accounts letting teens invest.
Some Gen Z shoppers told FOX Business malls offer a social connection that online shopping cannot fully replace.
One shopper said, “We grew up during like quarantine… Getting out and hanging out with people was a very big thing we didn’t appreciate during that time… As we grow older, we see that we need to be doing these things and it’s kind of fun.”
Business
(VIDEO) Spurs Dominate Wolves in Game 6, Advance to Face Thunder in Western Conference Finals
SAN ANTONIO — The San Antonio Spurs delivered a commanding performance Thursday night, defeating the Minnesota Timberwolves 112-89 in Game 6 to advance to the Western Conference Finals for the first time since 2017. Victor Wembanyama led the way with 28 points, 14 rebounds and 5 blocks, cementing his status as one of the league’s most dominant young forces as the Spurs closed out the series 4-2.

The victory sets up a highly anticipated Western Conference Finals matchup against the top-seeded Oklahoma City Thunder, beginning Monday night at Paycom Center. The Spurs, who finished the regular season as the No. 5 seed in the West, have now knocked off two higher-seeded teams in the postseason, showcasing remarkable depth, defensive intensity and poise under first-year head coach Mitch Johnson.
Wembanyama, the 22-year-old French phenom in just his third NBA season, was unstoppable in the decisive Game 6. He controlled both ends of the floor, altering shots in the paint while stretching the defense with his perimeter shooting. His performance drew immediate comparisons to legendary Spurs big men like Tim Duncan and David Robinson, with many analysts declaring him the best defensive player in the league right now.
“Wemby was a monster tonight,” Johnson said in his post-game press conference. “He sets the tone for everything we do. When he’s locked in like that, it’s really hard for any team to score inside or get easy looks.”
Dominant Spurs Defense Shuts Down Wolves
San Antonio’s defense was the story of the night. The Spurs held the Timberwolves to under 90 points, forcing 18 turnovers and contesting nearly every shot. Minnesota star Anthony Edwards, who had carried the Wolves through much of the series, finished with just 19 points on inefficient shooting. Karl-Anthony Towns struggled against Wembanyama’s length, scoring 14 points before fouling out late in the fourth quarter.
The Spurs jumped out to a 28-18 lead after the first quarter and never looked back. Their ball movement and transition offense overwhelmed Minnesota, who appeared fatigued after a grueling series that included several close, physical games. San Antonio shot 51 percent from the field and 42 percent from three-point range, while dominating the glass with a 48-36 rebounding advantage.
Veteran guard Chris Paul provided steady leadership off the bench with 12 assists, while Keldon Johnson added 18 points and strong rebounding. The Spurs’ bench outscored Minnesota’s reserves 42-19, highlighting the depth that has become a hallmark of this surprising team.
Historic Run for Rebuilding Spurs
The victory marks a remarkable turnaround for a Spurs franchise that was in full rebuild mode just two seasons ago. After drafting Wembanyama with the No. 1 overall pick in 2023, San Antonio has accelerated its contention timeline far faster than most experts anticipated. Reaching the Western Conference Finals in just the third year of the Wembanyama era signals a potential dynasty in the making.
Coach Johnson, who took over after Gregg Popovich stepped back, has instilled a defensive identity while allowing the team’s young talent to play with freedom and joy. “This group believes in each other,” Johnson said. “We’ve grown together through some tough losses, and now we’re seeing the payoff.”
Wembanyama, typically reserved in interviews, allowed himself a moment of celebration after the game. “It feels amazing to be here with my teammates,” he said. “We worked so hard for this. But we’re not done yet. OKC is going to be a tough challenge.”
Thunder Await in Western Conference Finals
The Thunder, led by MVP candidate Shai Gilgeous-Alexander, finished the regular season with the NBA’s best record. Oklahoma City defeated the Denver Nuggets in five games in the second round and will enter the Conference Finals as heavy favorites. However, the Spurs have already shown they can compete with elite teams, having split their season series with OKC.
The matchup pits two of the league’s brightest young stars against each other — Wembanyama versus Gilgeous-Alexander — in what promises to be one of the most exciting series in recent years. Thunder coach Mark Daigneault praised the Spurs after their Game 6 win, calling them “a complete team with incredible size and versatility.”
Game 1 of the Western Conference Finals is scheduled for Monday night in Oklahoma City. The series will test San Antonio’s depth and experience against Oklahoma City’s speed and star power. Many analysts view this as a potential changing of the guard in the Western Conference, with both teams built around elite young talent rather than aging superstars.
Broader NBA Playoff Picture
The Spurs’ advancement comes as the Eastern Conference Finals are also underway, with the Boston Celtics holding a 3-1 lead over the New York Knicks. Whoever emerges from the East will face a formidable Western champion in the NBA Finals, setting up what could be one of the most competitive championship series in years.
For the Timberwolves, the series loss marks another disappointing end to a promising season. Despite strong regular-season play and the emergence of Edwards as a true superstar, Minnesota once again fell short in the playoffs. Coach Chris Finch expressed pride in his team’s effort but acknowledged the need for adjustments moving forward.
What’s Next for San Antonio
The Spurs now shift focus to preparing for Oklahoma City. Johnson emphasized rest and recovery for the team after a physical series against Minnesota. Wembanyama, who has logged heavy minutes throughout the postseason, will benefit from the extra days off before Game 1.
San Antonio’s surprising run has energized the fan base and the city. The Spurs, long known for their sustained excellence under the Popovich era, appear poised for another extended period of contention with Wembanyama as the cornerstone. Ticket demand for potential home games in the Conference Finals has already surged, with fans eager to witness history in the making at the Frost Bank Center.
As the Western Conference Finals approach, the basketball world turns its attention to this intriguing matchup. The Spurs have defied expectations all season, and their Game 6 masterclass against Minnesota proved they belong among the NBA’s elite. Whether they can continue their magical run against the top-seeded Thunder remains to be seen, but one thing is certain — this young, fearless San Antonio team has announced its arrival on the biggest stage.
The 2026 postseason continues to deliver drama, and the Spurs’ journey has quickly become one of its most compelling stories. With Wembanyama leading the charge, San Antonio is ready to take the next step in what could be the beginning of a new dynasty in the Western Conference.
Business
NVE Corporation: A Great Niche, But With Limited Upside (NASDAQ:NVEC)
My name is Myriam Hernandez Alvarez. I received the Electronics and Telecommunication Engineering degree from the Escuela Politecnica Nacional, Quito, Ecuador, the M.Sc. degree in computer science from Ohio University, Athens, OH, USA, a graduate degree in Business Management from Universidad Andina Simon Bolivar, Quito, Ecuador, and the Ph.D. degree in computer applications from the University of Alicante, Spain.Disclosure: I collaborate professionally with Edgar Torres H, who is also an author on Seeking Alpha. Our analyses are conducted independently, and we adhere to Seeking Alpha’s Shared Association Guidelines.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
Trump says Iran war is worth the economic pain. These rural voters agree

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