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Qualcomm Just Opened a New AI Growth Engine. Here’s Why It Matters.


Qualcomm (QCOM -2.61%) is trying to turn its power-efficient computing expertise into a real data-center AI business. It’s hypercaler customers give the strategy an important proof point, but the bigger upside depends on repeat wins, later chip generations, and attractive margins.

Stock prices used were the market prices of Sept. 18, 2026. The video was published on Oct. 4, 2026.

Rick Orford has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Qualcomm. The Motley Fool has a disclosure policy. Rick Orford is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

The big interview: Exec says crowded non-QM field could squeeze smaller lenders


“There are certainly some people out there whose model in certain non-QM is to bulk up loans, and they got it handed to them,” he said. “Market moves, some were hedged, and others were not hedged.”

He has not heard of any that went out of business, though some took heavy losses.

“If you’re bulking and let’s say you just lost $15 million on a trade of $300, $400 million, how many of those trades have you had in the last 24 months where you made $15, $20 million?” he said.

Halpern had also heard, though not firsthand, about a mortgage bank left unhedged on a couple hundred million dollars in loans when the market moved.

“My first thought is, okay, well, that’ll be good because maybe it puts someone out of business, maybe there’s more business that comes,” he said. “Then I thought about it, and that’s not necessarily a good thing because ultimately who has a problem? It’s the warehouse banks. If the warehouse banks have a problem right now, they’re going to be looking at our haircuts, right? So it goes from anywhere from 100 to 95.”

Billionaires have left the U.K. and taken $160 billion to Monaco, Switzerland, and the UAE



It’s estimated that billionaire U.K. residents who have loosened their ties to the country in the past two years—or up and left completely—took around $160 billion with them collectively, according to a recent analysis from Bloomberg. It’s an eye-watering fortune that even surpasses the combined wealth of billionaires who have chosen to stick with their U.K. postcodes. 

It’s no secret that there’s been a wave of millionaires and billionaires quitting Britain. Wealthy U.K. residents had already been fleeing the country for years before the Labour party took office in July 2024, but the biggest shift happened upon the end of the non-dom regime—a policy first announced by the Conservative party in March of that year, months before handing over the reins. 

The government also raised capital gains tax rates in October 2024, with the higher rate jumping from 20% to 24%. 

It’s driving the perception that the U.K. has become less enterprise-friendly—so some business tycoons are taking their fortunes elsewhere. Now, British billionaires are flocking to low-tax destinations including Switzerland, Monaco, and the United Arab Emirates (UAE). 

Switzerland, Monaco, and the UAE have become U.K. billionaire hotspots

For Britain’s wealthiest, moving abroad can offer more than a change of scenery—it can mean a dramatically lower tax bill.

Lakshmi Mittal, an Indian-born steel billionaire with a roughly $40.8 billion net worth, up and left the U.K. after three decades for Switzerland, where he is now a resident. Switzerland has become a hotspot for British billionaires thanks to its comparatively favorable tax environment and longstanding appeal to wealthy international residents, with hedge fund billionaire Alan Howard (worth $5 billion), Ipsen heiress Anne Beaufour (worth $4 billion), and private-equity billionaire Jeremy Coller (worth $3.8 billion) taking the leap to the Alpine country. Howard became a Swiss resident in 2025, while Beaufour also changed her residency to Switzerland that year. 

Others like shipping mogul John Fredriksen with a $19.2 billion fortune, as well as Egyptian billionaire Nassef Sawiris (worth $9.6 billion) who lived in the U.K. for a decade, have uprooted in recent years and hold ties or residency in the UAE. The Gulf state has no federal personal income tax, and has become an increasingly popular luxe destination for wealthy expatriates.

And another picturesque locale has been a bright spot for the uber-rich: Monaco. 

The tiny wealthy country on the French Riviera is not only known for luxury, yachts, and the Formula 1 Grand Prix—it’s also a long-standing tax haven for billionaires. Monaco has one of the lowest and most favorable tax systems in the world, charging no personal income tax for non-French residents. So it only follows that it’s become a billionaires’ playground.

Ian and Richard Livingstone, successful U.K. property developers with a $11.2 billion fortune, left their home country for Monaco in the spring of last year. Checkout.com founder Guillaume Pousaz, worth $6.8 billion, left the U.K. for Monaco in 2025 to settle down in the tax-friendly enclave. And John Reece, the British property billionaire with $4.1 billion in wealth, also set his sails for the Mediterranean principality back in 2019, before more recent changes in policy. 

While some of the ultra-rich are fleeing the U.K., others are asking to be taxed more 

Britain’s billionaires and millionaires are split over the country’s changing tax landscape. One camp of the ultra-rich cohort is actively exiting the country and slamming the tax policies as bad for business, while a whole other group is publicly demanding that they be taxed more.

Earlier this year, 88-year-old property magnate David Reuben and his brother Simon made headlines after leaving London for the sunny shores of Monaco. The businessmen, each worth an estimated $13.1 billion, were reported to have been non-dom, allowing them to pay U.K. taxes only on income earned or brought into the country. However, the status was scrapped in 2025, and under the new rules, long-term U.K. residents can also have their global assets subject to the country’s 40% inheritance tax. And telecoms entrepreneur Bassim Haidar, whose astronomical net worth is “close” to $1 billion, “urgently” left the U.K. after the non-dom policy was set to be abolished. 

“There’s no two questions about this; we have looked at it from every angle and it just doesn’t make sense to stay here,” Haidar told The Guardian in 2024. “This [the ending of the non-dom regime] is going to cost me millions and millions of dollars and pounds every year in taxes on money that I’ve actually made abroad and businesses that I’ve built abroad.”

However, not every wealthy Briton sees higher taxes as a reason to pack up and leave. Some argue that the country’s richest residents have a duty to alleviate economic inequality. 

In July of this year, 120 wealthy Britons signed an open letter to England’s prime minister Andy Burnham, asking for their taxes to be raised. 

The “Proud to Pay” campaign, organized by Patriotic Millionaires UK, garnered support from some of the country’s biggest stars, including the likes of former footballer Gary Lineker and legendary music producer Brian Eno. The group proposed a 2% tax on wealth over £10 million ($13.3 million)—which is supported by 80% of U.K. millionaires—that would generate around £24 billion ($32 billion) every year. 

By forking over more of their fortunes, the group argues that higher taxation would “disperse economic power” to those who need it most.

What are Cryptocurrency and How It Works? – [Hindi] – Quick Support



#WhatisCryptocurrency #QuickSupport #Innovation

What are Cryptocurrency and How It Works? – [Hindi] – Quick Support. क्रिप्टोकरेन्सी क्या है और कैसे इसे यूज किया जाता है, इसके बेनिफिट्स क्या क्या होते हैं, ऐसे सवालों के जवाब आपको इस वीडियो में मिल जाएंगे इसलिए इसीलिए इस विडियो को पूरा जरुर देखे |

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When Retail Capital Flow Overwhelms Institutional Fundamentals


GameStop is a primary example.

Since its 2014 inception, investment firm Melvin Capital Management had been short GameStop, expecting the stock price to fall as digital downloads of video games overtook its brick-and-mortar business.

The precise size and entry price of Melvin’s position weren’t publicly disclosed, so the figures here are a hypothetical illustration, not Melvin’s actual results. For example, consider shorting 1,000 shares on Jan. 22, 2021, at $65.01 per share. By the Jan. 27 close of $347.51 per share, up roughly 435%, that position would show a $282,500 paper loss before fees, more than four times its $65,010 notional value. Held to the Feb. 4 close of $53.50, it would instead show an $11,510 gross gain.

Melvin did not ride that path. Gabriel Plotkin, the founder of the firm, later said Melvin closed its GameStop position on Jan. 26 before the peak and at a loss, with its thesis unchanged. In February congressional testimony, he added that Melvin also cut other long and short positions at significant losses. The eventual gain was unavailable to a manager forced out during the surge.

The lesson is that surviving the interval can matter as much as the valuation call.

[INTERVIEW] Founder of The Points Standard



Today, we are featuring an unconventional interview. We are interviewing the founder of The Points Standard. You will see what we mean during the interview below. The founder is really passionate and really wants their work to speak for itself….

The post [INTERVIEW] Founder of The Points Standard appeared first on Pointshogger.

Meet 10 finance leaders on Fortune’s Most Powerful Women Asia list



Good morning. This week, Fortune released the third annual Most Powerful Women Asia list, recognizing 100 women whose leadership, business performance, and influence are helping shape the region’s economic future.

The ranking spans 14 markets across Asia-Pacific. DBS Group CEO Tan Su Shan retains the No. 1 position. She made history in March 2025 as the first woman to lead DBS, Southeast Asia’s largest bank.

Twenty-four women are newcomers to this year’s list. Alongside CEOs and chairwomen, the ranking includes finance leaders working across industries. Fortune evaluated candidates based on the scale and performance of their organizations, career trajectory, influence, innovation, and broader societal impact.

Meet 10 finance leaders featured on Fortune’s 2026 Most Powerful Women Asia list:

—Meng Wanzhou, Deputy Chairwoman, Rotating Chairwoman and CFO at Huawei, China (No. 4)
Huawei is a tech company that builds telecommunications equipment, smartphones, and smart devices. It posted 881 billion yuan ($126 billion) in revenue in 2025, its second-highest annual total on record. The company has also reclaimed the top spot in China’s smartphone market.

—Julie Gao, CFO at ByteDance, China (No. 15)
Julie Gao spent more than a decade as a partner at law firm Skadden, specializing in capital markets, before joining ByteDance as CFO in 2022. The technology company is best known as the parent of short-video platform TikTok.

—Lin Tao, CFO and Corporate Executive Officer at Sony Group, Japan (No. 20)
Lin Tao made history in April 2025 as Sony’s first female CFO. She oversees finance, strategy, corporate planning, and investor relations at the global entertainment giant.

—Arundhati Chakraborty, Global Lead for Finance and Global Capability Centers at Accenture, India (No. 39)
Arundhati Chakraborty leads Accenture’s Finance Reinvention Partner unit, one of seven units established in a services reorganization that took effect in March 2026. The unit helps clients improve financial performance and supports the CFO agenda. She also leads Accenture’s global capability centers practice. 

—Phatpuree Chinkulkitnivat, CFO at Bangchak, Thailand (No. 56)
Phatpuree Chinkulkitnivat has held senior accounting and finance leadership roles at Bangchak since 2022 and formally became CFO in November 2023. She is the Thai energy group’s first female finance chief.

—Susanna Hui Hon Hing, Executive Director, Group Managing Director and Group CFO at PCCW, Hong Kong SAR (No. 59)
Susanna Hui joined Cable & Wireless HKT in 1999, before its acquisition by PCCW, a telecommunications, media, and IT company. She has been PCCW’s group CFO since April 2007.

—Arisara Sakulkarawek, CFO at Banpu, Thailand (No. 65)
Arisara Sakulkarawek has been Banpu’s CFO since 2019. She manages the finances of the Thai energy group, whose operations span nine countries.

—Duangdao Wongpanitkrit, Chief Finance and Strategy Officer at Bank of Ayudhya (Krungsri), Thailand (No. 66)
Duangdao Wongpanitkrit has spent 18 years at Krungsri, Thailand’s fifth-largest financial group, including 13 years as CFO. On Jan. 1, 2026, she became its first chief finance and strategy officer.

—Joanne Rodrigues, Group CFO at Affin Bank, Malaysia (No. 99)
Banking veteran Joanne Rodrigues spent 18 years at CIMB and AmBank before joining Affin Bank as group CFO in June 2020. She previously worked in AmBank’s wholesale banking arm.

—Yik Sook Ling, CFO at Public Bank, Malaysia (No. 100)
Yik Sook Ling has been CFO of Public Bank, Malaysia’s third-largest bank by assets, since July 2012.

View the complete 2026 list here.

Sheryl Estrada
Sheryl.Estrada@fortune.com

Leaderboard

Brian LaRose resigned as CFO of Neighborhood Intelligence (Nasdaq: NXH), formerly Bed Bath & Beyond, effective Oct. 5 after roughly six months in the role. LaRose became CFO in April following the company’s acquisition of The Container Store, where he previously served as finance chief. The company did not disclose a reason for his resignation in its SEC filing. Paul Kosturos, a managing director at Alvarez & Marsal, was appointed interim CFO effective Oct. 5. He brings more than 30 years of finance and accounting experience and joins as the company integrates its businesses and cuts costs.

Stephen Cumming was appointed senior vice president and CFO of Penguin Solutions (Nasdaq: PENG), an AI infrastructure and memory solutions company, effective Oct. 6. Cumming most recently served as CFO of Edgio. Previously, he was CFO of Cambium Networks, where he led the company through its 2019 IPO, and held CFO roles at Kenandy and Atmel. His appointment comes as Penguin seeks to expand its AI data center business. Aaron Johnson, who had served as interim CFO since July, will return to his role as vice president of finance and accounting.

Big Deal

Salesforce’s CFO Priorities Report explores how finance leaders are taking on broader responsibilities as AI adoption and increasingly complex revenue models reshape their work. The survey of 865 finance executives across five countries found that nearly three-quarters said their roles had expanded over the past year, with managing AI use and expansion the leading driver.

Meanwhile, 65% manage multiple revenue models, and 71% say their companies sell through more channels than a year ago. Among respondents using AI, 90% reported positive returns on investment; more than 90% of those using AI agents reported benefits in time savings, productivity, cost savings, and forecast accuracy. Still, adoption faces hurdles: 46% cited security as a top barrier to expanding AI use, while 42% cited governance concerns and 42% cited integration with existing systems.

Going deeper

An Anthropic report finds that robots are already capable of performing 74% of physical work tasks in the U.S. But that doesn’t mean most of those jobs are about to disappear.

The bigger constraint today is economics: robots are currently cost-competitive with human labor for just 0.3% of work, and most still struggle in unpredictable, real-world environments. The jobs most exposed to robotics tend to be physical, repetitive, and structured, including driving, warehousing, packing, and material handling. By contrast, work requiring dexterity, hands-on care, and interpersonal interaction, such as nursing, repair, and many personal-service jobs, remains much harder to automate.

The report’s bigger takeaway is that robots expand the potential impact of AI well beyond the kinds of computer-based work affected by large language models. Taken together, robots and LLMs could theoretically affect around 80% of U.S. job tasks, according to the report. 

But the path from technical capability to widespread adoption will depend heavily on falling robot costs, improvements in physical capabilities, regulation, and whether people actually want robots doing certain kinds of work.

Overheard

“I put health as the foundation. Why? Because I think it’s very difficult to feel emotionally good with yourself if physically you’re not at your best.”

—Mikel Arteta, manager of English Premier League team Arsenal, told Fortune in an interview.

OrthoPediatrics launches knee contracture brace for children




OrthoPediatrics launches knee contracture brace for children

Mortgage Rates Finally Fall, But Not By Much


It’s been tough sledding for mortgage rates since early March.

And especially rough over the past month and change, with very few down days.

But today just might be a winner though because both oil prices and bond yields moved lower.

That means 30-year fixed mortgage rates should also get some much-needed relief.

However, the drop will likely be pretty minimal and the larger trend still isn’t our friend.

Mortgage Rates Get a Rare Win Today

The bellwether 10-year bond yield that correlates strongly with 30-year fixed mortgage rates is down about five basis points today.

The move lower is being driven by lower oil prices, which take pressure off inflation and thus bond yields.

That should translate to a slightly lower 30-year fixed mortgage rate as well, though the movement probably won’t be anything major.

Still, getting a down day these days is hard to come by. So any sort of relief will be welcomed by both home buyers and industry participants.

We’re already hearing rumblings of mortgage layoffs again, and if rates stay at these high levels, there will surely be more.

In the meantime, expect the 30-year fixed to continue to hover around 7.50%, assuming things don’t get worse.

If things do get even worse, we could be looking at new highs this cycle, which were around 8% back in late 2023.

Mortgage Rates Remain Near Cycle Highs

Mortgage rates are falling today. That’s the good news.

The bad news is the 10-year is less than 10 bps off its recent high, and we hit new highs yesterday, so we’re still very much at the wrong end of things.

In other words, it’s a game of one step forward, two steps back. Repeated over and over again.

This upward trend in rates has pushed us from sub-6% at the beginning of March to as high as 7.60% this past week.

Perhaps we settle in around 7.50% if the global bond rout subsides. If it doesn’t, there’s not much to stop us from testing 8% again.

Or even going higher than that.

I wrote recently that if we follow a path similar to those 1980s mortgage rates, we could see a double-top and a terminal rate for the 30-year fixed around 8.88%.

That’s effectively a 9% mortgage rate and would surely spell disaster for the housing market, which is already reeling from the rise in rates this year.

But for today, take comfort that rates are lower and not higher. You’ve got to start somewhere.

Read on: Try my mortgage rate calculator to see payments at different rates.

Colin Robertson
Latest posts by Colin Robertson (see all)

Chase IHG Select Card Annual Fee Hike and Other Changes


Chase IHG Select Card Annual Fee Hike and Other Changes

Update: Chase Media Team confirmed via email that beginning in 2027, Anniversary Free Nights awarded will have a point redemption value of up to 50,000 points or less and cardmembers will continue to be able to add points from their IHG One Rewards account to top off the certificate. The card will also continue to include automatic Platinum Elite status and its current earning structure.

Chase is making changes to the old IHG One Rewards Select Credit Card, a legacy product that has long been one of the better cards to keep around thanks to the low $49 annual fee.

The bad news is that the annual fee is doubling. The good news is that the card’s anniversary Free Night Certificate is also getting a meaningful upgrade.

Chase has confirmed that the annual fee will increase from $49 to $99, with the higher fee taking effect on cardmember renewals in 2027.

IHG Select Card Changes

Here are the changes:

  • Annual fee: Increasing from $49 to $99
  • Anniversary Free Night: Increasing to a 50,000-point redemption cap
  • Platinum Elite status: Remains
  • 10% points rebate: Remains

The Select card is no longer available to new applicants, so these changes only affect existing cardholders who have kept the grandfathered product.

The upgraded 50,000-point Free Night is a nice improvement, up from the old 40,000 points cap. It also looks like cardholders will be able to top off the certificate with IHG points when a hotel costs more than 50,000 points.

When Does the $99 Annual Fee Start?

The higher annual fee will begin with cardmember renewals in 2027. The exact timing will depend on your individual renewal date. 

Guru’s Wrap-Up

A jump from $49 to $99 is obviously significant. But the card gets an upgraded 50K Free Night Certificate, along with continued Platinum status and the 10% rebate on redeemed points.

For anyone who can reliably use the certificate for an IHG stay worth more than $99, the card should still be pretty easy to justify.

Chase recently announced broader changes across its IHG credit card portfolio and said existing cardmembers would receive notices in October, with annual fee adjustments taking place in 2027. It also launched a new premium card with a $350 annual fee.

HT: DoC