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US Treasury Secretary Scott Bessent and Sen. Jon Husted promoted a new federal tax credit for education scholarships at a roundtable in Columbus, Ohio, as the state’s EdChoice voucher program faces a legal challenge. Taxpayers can claim up to $1,700 for donations to approved scholarship-granting organizations, or up to $3,400 for married couples filing jointly, with the credit taking effect in January 2027. Husted said it could supplement existing programs, and criticized an appeals court ruling that found Ohio’s voucher program unconstitutional, saying he expects it to be overturned on appeal. Bessent said he expects wages to keep rising and inflation to fall despite a short-term energy supply shock.
- Miami - Dade Residents to Decide on Seven Local Referendums in November Election : Key Issues Include Commissioner Salaries and School Tax
On November 3, voters in Miami-Dade will decide on seven local referendums: six amendments to the county's Home Rule Charter and one school board referendum, with each proposal voted on independently. A major proposal would create an independent five-member commission to set commissioner salaries, currently fixed at $6,000 a year, with pay capped by a state salary formula at roughly $127,779 annually for counties with over a million residents for 2026-2027. Another measure would raise the minimum residency requirement for commissioner candidates from six months to one year. The school referendum asks whether to extend a tax for another four years to support educational staff salaries and school security. The article also mentions a proposal on commercial advertising in parks.
- Lebanon School Board opposes New Hampshire tax cap
The Lebanon School Board in New Hampshire voted unanimously to oppose Question 2 on the November 3 ballot, which would cap school property taxes under House Bill 1300. The board calls the ballot's statement that the caps do not affect classroom instruction misleading, noting that most of a budget cannot be cut in one year, so cuts would likely hit staffing and student programs. Rep. Ross Berry, who helped write the question, says the wording is accurate because the 6% limit on SAU central office spending is the only spending cap, and he expects cuts only to bloated administration. Under the proposal, the school levy could grow only by inflation plus new construction, not market revaluations, and the question needs a three-fifths majority to pass.
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A major internet outage appears to have taken down many websites and apps, including Lloyds Bank, HSBC, Screwfix, DPD and internet bank Revolut, according to Down Detector. At least some of the problems seem linked to Google Cloud, where Google confirmed issues with multiple services at its west Europe facilities and said there was no workaround. The article notes it is unclear whether all the disruptions are related. It also points out that cloud infrastructure providers such as Google Cloud, Cloudflare and Amazon Web Services are largely invisible yet support much of the internet, so an outage at one can knock out many seemingly unrelated services.
- BlackRock Files for 'Buffer' Bitcoin ETF as IBIT Draws $665M in a Day
BlackRock has filed with the SEC for the iShares Bitcoin Managed Protection ETF (ticker PBIT), a 'buffer' fund that would limit initial losses to about 10% in exchange for capping gains. Instead of holding Bitcoin directly, it would buy call options on IBIT or similar exposure, sell higher-priced calls to offset costs, use three overlapping monthly tranches, and hold fixed-income investments. The management fee has not been set. On the same day, IBIT was the only one of 12 U.S. spot Bitcoin ETFs to post net inflows, at $665.2 million, while the group's total net inflows were $526.6 million. The funds had shed about $910 million over the previous two weeks as hotter-than-expected inflation data revived bets on another Federal Reserve rate hike.
- The Best Trillion-Dollar Stock to Buy Right Now, According to Wall Street
According to the article, 13 U.S.-listed stocks have a market capitalization of at least $1 trillion, and analysts are most bullish on Micron, with a median target price of $1,575 per share, implying 70% upside from the current $925. Micron's results have surged amid a memory chip shortage driven by AI infrastructure demand: revenue in the September quarter rose 379% to $54 billion, and non-GAAP earnings reached $33.42 per diluted share, up from $3.03 a year earlier. The CEO expects tighter supply-demand conditions in fiscal 2027 and 2028. However, new capacity from Micron, Samsung, SK Hynix and others could lead to oversupply by 2029, and memory prices have historically fallen sharply in such periods. Some investors believe AI demand and longer contracts could weaken the boom-and-bust pattern, while others remain cautious.
- PNJ Shares 'Surge' Ahead of Extraordinary Shareholders' Meeting
PNJ shares hit the daily ceiling of 19,750 dong ahead of an extraordinary shareholders' meeting, with more than 4 million shares in unfilled buy orders at the ceiling price and matched volume above 16 million shares, worth over 315 billion dong. Foreign investors returned as net buyers of over 3.5 million shares after heavy selling. At the meeting, the company will present a restructuring plan following the diamond incident, including cutting this year's revenue target by about 20% to around 39,000 billion dong and setting aside over 7,071 billion dong in provisions, which would swing projected after-tax profit from 3,400 billion dong to a loss of 6,271 billion dong. It also proposes lowering last year's dividend payout from 20% to 10% and issuing up to 550 million shares privately. The stock has lost about 70% of its value since early July.
- Nvidia Stock Hasn’t Been This Cheap in 7 Years. Only 1 Explanation Makes Sense.
Nvidia's trailing P/E ratio is about 27, its lowest since June 2019 and less than half its 10-year average of 61.3, even though the share price has nearly tripled since Aswath Damodaran called the stock a bridge too far in early 2024. The article argues the only mathematical explanation is that earnings are growing faster than the share price, with second quarter fiscal 2027 revenue up 106% to $92.6 billion and earnings up 126%. Damodaran's 2024 valuation model assumed revenue growth of around 32% a year over five years, a pace Nvidia is now far exceeding. Risks noted include doubts about returns on huge AI infrastructure spending, local opposition to data centers, and rising competition from AMD and customers such as Amazon, Google and Microsoft. The author says Damodaran was badly wrong about Nvidia and suggests the trend could continue.
- Coteccons shifts growth focus as construction sector gains major rivals
Coteccons (CTD) views the entry of VinCons (Vingroup) and Tân Minh Nhân (Sun Group) as a force raising industry standards, and its chairman Bolat Duisenov prefers not to compare the company with other contractors. Instead, management focuses on three questions: how to become investors' first choice, how to attract and retain talent, and how to diversify revenue. In fiscal 2026, net revenue rose 38% to VND 34,340 billion and after-tax profit rose 73% to VND 788 billion, while backlog reached a record VND 70,000 billion. The company targets revenue of VND 42,000 billion and profit of VND 1,050 billion for fiscal 2027, although new contracts signed in Q1 of fiscal 2027 totaled VND 14,519 billion, down year on year, as it tightens client and project selection. Bolat said the company can sustain 20-30% growth in the coming years and is shifting its focus from volume to efficiency.
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