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Qinetiq, which is helping equip the Royal Marines, has slashed its revenue and profitability targets – Anthony Upton The chaos unleashed by Donald Trump’s reluctance to back America’s allies has triggered a squeeze on defence spending, military contractor Qinetiq has warned.On Monday, the UK company cut its revenue and profitability targets, blaming “recent geopolitical uncertainty” for a dearth of new contract awards since January.Qinetiq shares fell as much as 22pc – wiping more than £500m off the market value of the Hampshire-based business. The contractor had already warned that tight public spending and the election of new governments in Britain…

Bitcoin (BTC) investors are looking to move past four consecutive Monday losses. Over the past few weekends, the largest cryptocurrency has experienced significant price volatility, driven by macroeconomic uncertainty including geopolitical tensions, tariffs and rising global bond yields. The weekend nervousness appears to have carried over into Mondays. Data from Velo shows the over the past three months Mondays and Thursdays have been the most negative days of the regular workweek. Sunday, however, stands out as the worst-performing day of the week overall, with an average price decline of 1%. Overall, weekends perform slightly worst than weekdays in terms of…

The International Cricket Council (ICC) on Monday said that all-rounder Khushdil Shah has been fined 50 per cent of his match fee for breaching level 2 of its Code of Conduct in the first Twenty20 against New Zealand in Christchurch on Sunday. The tourists began the five-match series in disastrous fashion, reduced to 11-4 at the end of the fifth over after towering paceman Kyle Jamieson ran amok with the new ball. They were eventually dismissed for their lowest score in a T20 on New Zealand soil and the home side had few problems in responding with 92-1 off just…

​​Michael Mortensen was looking forward to spending two weeks in Hawaii with his family last month, but his patriotism wouldn’t let him.The Vancouver-based development consultant and urban planner said he’s refusing to spend money south of the border while President Donald Trump “levies idiotic tariffs and rains chaos” on Americans and Canadians alike.Mortensen, 58, had budgeted about $10,000 for accommodations, food and entertainment, but he’s now exploring alternative destinations that bypass the U.S. “without even a connection or layover.” He added that he wrote letters to Hawaii’s governor and the state’s tourism board explaining his decision.Trump’s escalating trade war against…

(Bloomberg) — Michael Saylor’s Strategy said it bought $10.7 million of Bitcoin, a week after unveiling plans to issue up to $21 billion of preferred stock to acquire more of the cryptocurrency. Most Read from Bloomberg The enterprise software company turned leveraged Bitcoin proxy controlled by co-founder and chairman Saylor has been buying Bitcoin on a frequent basis since late October. The former MicroStrategy purchased 130 Bitcoin at an average price of approximately $82,981 from March 10 through March 16, according to a filing with the US Securities and Exchange Commission on Monday. It now holds about $41.6 billion of…

Business intelligence firm Strategy, formerly known as MicroStrategy, has added 130 Bitcoin to its holdings, purchasing them for $10.7 million at an average price of $82,981 per BTC between March 10 and March 16. According to the company’s latest SEC filing, the acquisition was funded through the sale of 123,000 shares of its 8.00% Series A perpetual strike preferred stock (STRK), generating approximately $10.7 million in net proceeds. Strategy confirmed that no Class A common stock was sold during the period. Class A common stock refers to a type of equity ownership in a company that typically grants shareholders voting…

A majority of American voters say their sympathies lie more with Ukraine than Russia in the war between the two countries. At the same time, nearly half say they think President Donald Trump favors Russia, while most of the remainder believe he favors neither, according to the new national NBC News poll.Sixty-one percent of registered voters choose Ukraine when asked which of the two countries has their sympathies more, while just 2% say Russia. Another 35% say they are more sympathetic to neither side, while 2% are not sure.When asked where they believe Trump’s sympathies are, 49% choose Russia, 40%…

Private assets currently account for less than 1% of assets in 401(k)s and other defined contribution plans, but some major asset managers and plan administrators want to increase that share.”We are seeing institutions worldwide blend public and private markets, and in many cases, it’s been a great investment,” said Larry Fink, chairman and CEO of BlackRock, at a summit on retirement that the company sponsored last week. More than half of the $11.6 trillion assets under management at BlackRock are in retirement products.Fink and other proponents say a key reason for including private assets in the $12.5 trillion workplace retirement plan…

Over a double cheeseburger and fries, Robert F. Kennedy Jr. told Fox News host Sean Hannity earlier this month of his plans to improve the country’s health by incentivizing companies to step away from processed foods.From across the red high-top table of a Florida Steak ’n Shake, the health and human services secretary went on to praise the Indianapolis-based fast-food chain as a shining example of change since it began cooking its shoestring fries in beef tallow instead of one of the many seed oils that have become targets of Kennedy’s health agenda.“Steak ’n Shake has been great,” Kennedy said.…

Investor disillusionment with President Trump’s economic agenda continues to mount. The surprising message from Trump and his top advisers: Bring it. Two months into Trump’s presidency, stocks are down, and Trump and the investing community are unfriending each other. Wall Street expected the businessman-president to push market-friendly policies and put a floor under asset prices. Instead, Trump has imposed import tariffs more aggressively than anybody expected and dismissed the inevitable adverse reaction in markets. Stock reversals highlight the whiplash. The S&P 500 (^GSPC) index hit a new high on Feb. 19, marking the moment of peak optimism in Trump 2.0.…