KeyCorp: Strong Results Defy Private Credit Fears

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https://seekingalpha.com/article/4830591-keycorp-strong-results-defy-private-credit-fears?source=feed_all_articles

Food assistance is safe through October, but it may be at risk if the shutdown continues

A federal program that provides food assistance to 40 million low-income people could be at risk in November if the government shutdown isn’t resolved by then. In at least some places, new applications for the program are not being approved. However, there’s still a lot of uncertainty about the Supplemental Nutritional Assistance Program, known as SNAP or food stamps, a vestige of a previous incarnation of food aid. Here’s a look at where things stand.

### The Food Aid Program Benefits 1 in 8 People in the US

SNAP is a major piece of the nation’s social safety net, touching nearly 1 in 8 people in the country each month. Recipients receive benefits on prepaid cards that can be used for groceries.

### The Other Big Pieces of the Safety Net

Social Security and Medicaid are expected to continue paying benefits during the shutdown. But because of the way it’s funded, SNAP is vulnerable.

In the accounting year that ended on September 30, 2024, SNAP cost just over $100 billion, including half of the state administrative costs covered by federal taxpayers. It provided an average of $187 a month to 41.7 million people.

### States Were Warned About November Benefits

When the government shut down on October 1 amid a congressional budget impasse, a few things were clear about SNAP: benefits would continue through October, but it was unclear what would happen after that.

The U.S. Department of Agriculture, which oversees the program, sent letters on October 10 to state agencies administering it, telling them not to send certain files to the contractors that would clear the way for EBT cards to be loaded at the start of November. Different states send that information at different points in the month.

Carolyn Vega, associate director of policy analysis at Share Our Strength, an anti-poverty advocacy group, said that pausing the sending of this information now doesn’t necessarily mean that cards can’t be loaded next month, with or without the resumption of government operations. But she added, “The question marks are trending in a bad direction for November.”

### Finding Money During the Shutdown Could Be a Challenge

A budget agreement that ends the shutdown would also restore SNAP funding. Short of that, Vega said it’s possible state or federal governments could free up money to bridge the gap.

She noted that ahead of a looming 2015 shutdown, similar warnings were released and then reversed even before Congress reached a deal to keep the government running. But because of the sheer amount of money involved, that’s a significant challenge.

General SNAP costs far exceed those of other food aid programs. For example, the Special Supplemental Nutritional Program for Women, Infants, and Children (WIC) helps 6 million low-income mothers, young children, and expectant parents purchase nutritional staples. President Donald Trump’s administration has shored up WIC with $300 million, but doing the same for SNAP could cost about $8 billion a month.

At tens to hundreds of millions of dollars monthly per state, finding state money to cover SNAP costs could also be difficult.

Peter Hadler, deputy commissioner of Connecticut’s Department of Social Services, told lawmakers that he doesn’t expect the federal government to reimburse states if they cover SNAP benefits during the shutdown. He also said he expects the EBT network will be shut off at the retail level if the program isn’t federally funded. In that case, even people with a balance on their cards would not be able to access benefits.

### States Are Figuring Out How to React

More than 1 in 5 New Mexico residents receive SNAP benefits, at a cost of about $90 million a month. The prospect of those benefits disappearing is raising alarms.

“I think it’s direct harm to New Mexicans, to New Mexico’s communities and New Mexico’s economy that is unprecedented,” said state Rep. Nathan Small, a Democrat and chair of the main budget-writing committee. However, he added it’s too early to say whether New Mexico might find options to mitigate any harm if benefits are cut off.

“We’re following up,” said Charles Sallee, director of the Legislature’s budget and accountability office, “to verify whether food stamps is really out of money or if this is just a tactic that the administration is playing in the overall negotiation.”

In Minnesota, the Department of Children, Youth, and Families told counties and Native American tribes not to approve new SNAP applications after Wednesday. The state was also preparing to inform recipients on October 21 that benefits would not be issued for November barring any changes.

“An interruption in receiving food assistance can be very disruptive, even dire, for the lives of Minnesota’s families,” said Tikki Brown, the department commissioner.

### Other SNAP Changes Are Starting to Kick In

The government shutdown isn’t the only development that could cut access to SNAP. The broad policy and tax law that Congress passed and President Trump signed in July also calls for changes to the program.

Adults with children aged 14 to 17 will no longer be exempt from a work requirement to receive benefits, and neither will people aged 55 through 64. These policies are already in effect, and some people could begin losing coverage around the start of January.

Another change in the law will come in future years. Starting in October 2026, states will be required to pick up three-fourths of the administrative costs. The following year, states with higher benefit error rates will be required to pay some of the benefit costs.

While it’s possible Congress could modify some of these policies, simply resuming government operations will not change them.

The future of SNAP remains uncertain amid the shutdown and upcoming policy changes, raising concerns for millions who rely on this vital food aid program.
https://www.chicagotribune.com/2025/10/16/food-assistance-shutdown/

BlackRock Unveils Treasury Liquidity Fund to Manage Stablecoin Reserves

**BlackRock Launches Revamped Fund to Manage Stablecoin Reserves**

BlackRock, one of the world’s largest asset managers with $13.5 trillion in assets, is expanding its footprint in the stablecoin market by launching a restructured money market fund designed specifically to manage reserves for US dollar-pegged stablecoins. This move aligns with the new regulatory landscape and positions BlackRock as a key player in the rapidly growing stablecoin sector, which is projected to reach $4 trillion by 2030.

### Strategic Push into Stablecoin Reserve Management

In response to increasing demand for secure and liquid reserve options, BlackRock has revamped one of its key money market funds, now renamed the **BlackRock Select Treasury Based Liquidity Fund (BSTBL)**. The fund’s primary objective is to provide a safe, liquid vehicle for stablecoin issuers to manage their reserves. It invests exclusively in short-term US Treasury securities and overnight repurchase agreements, ensuring both safety and high liquidity.

Jon Steel, the global head of BlackRock’s cash management business, emphasized the company’s commitment:
*“We want to be and we believe we are a preeminent reserve manager.”*

This statement highlights BlackRock’s goal to capture a larger share of the stablecoin market as demand for secure reserve solutions grows alongside stablecoin adoption.

### Compliance with the GENIUS Act

The redesigned BSTBL fund is tailored to comply with the new regulatory framework introduced under the GENIUS Act, signed into law earlier this year. The GENIUS Act sets forth guidelines requiring stablecoin issuers to maintain their reserves in safe, highly liquid forms.

By focusing its investments solely on short-term US Treasury securities and repurchase agreements, BlackRock’s fund meets these stringent requirements, providing stablecoin issuers with a compliant and reliable reserve management solution. This regulatory alignment enhances BlackRock’s appeal to issuers looking to meet both immediate and long-term reserve management needs.

### Longer Trading Hours and Institutional Focus

To better serve institutional investors—including stablecoin issuers—the BSTBL fund has extended its trading hours until 5:00 pm Eastern Time. This adjustment provides greater flexibility for investors operating across multiple time zones. Moreover, the fund’s valuation times have been pushed back to support global trading schedules, enabling more efficient and transparent fund management.

BlackRock’s focus on institutional investors is clear, as the stablecoin market is primarily driven by large financial entities. Offering a yield-bearing reserve option with extended trading hours positions the BSTBL fund as an attractive tool for issuers aiming to comply with the GENIUS Act and optimize their reserve strategies.

### Expanding BlackRock’s Digital Asset Strategy

This move into stablecoin reserve management complements BlackRock’s broader digital asset strategy. The firm is already active in the cryptocurrency space with products such as its Bitcoin ETF, Ether product, and a tokenized liquidity fund launched earlier this year.

The revamped BSTBL fund reinforces BlackRock’s commitment to the digital assets sector and its ambition to be a leading reserve manager for US dollar-pegged stablecoins. BlackRock has already established partnerships with issuers like Circle, the company behind USDC, further solidifying its reputation as a trusted reserve manager.

### Outlook

With stablecoin adoption on the rise and the market expected to expand exponentially, BlackRock’s strategic initiative to redesign its money market fund and align with new regulatory standards positions it to benefit from growing demand for secure, compliant reserve management solutions.

By proactively catering to the needs of stablecoin issuers, BlackRock is set to become an integral player in this dynamic and fast-evolving financial sector.
https://coincentral.com/blackrock-unveils-treasury-liquidity-fund-to-manage-stablecoin-reserves/

Enerpac outlines $635M-$655M revenue target for 2026 with new $200M buyback plan as DTA integration and E-commerce drive optimism

**Enerpac Outlines $635M-$655M Revenue Target for 2026 with New $200M Buyback Plan**

*October 16, 2025 | 11:07 AM ET*

Enerpac Tool Group Corp. has announced an ambitious revenue target of $635 million to $655 million for the year 2026. The company is also unveiling a new $200 million share buyback plan, signaling strong confidence in its growth prospects.

This optimism is driven by the ongoing integration of DTA and the company’s expanding e-commerce initiatives, which are expected to enhance operational efficiencies and market reach.

**Company Highlights:**

– **Revenue Target:** $635M – $655M for 2026
– **Buyback Plan:** $200M share repurchase authorization
– **Growth Drivers:** DTA integration and e-commerce expansion

Investors are keeping a close eye on Enerpac Tool Group Corp., with current short interest data and trending analysis indicating active market interest.

**Stock Information:**
– **Ticker Symbol:** EPAC
– **Status:** Trending

Stay tuned for further updates on Enerpac’s progress and market performance.
https://seekingalpha.com/news/4504881-enerpac-outlines-635m-655m-revenue-target-for-2026-with-new-200m-buyback-plan-as-dta?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news

Kansas SNAP funding accusations examined

**Kansas SNAP Funding Controversy: Attorney General Kris Kobach’s Claims Debunked by Gov. Laura Kelly’s Administration**

Kansas SNAP funding was reportedly at risk of losing $10.4 million, according to claims made by Kansas Attorney General Kris Kobach in a lawsuit filed against Governor Laura Kelly’s administration on September 8. However, these assertions were officially refuted by the Kelly administration on September 30 through a series of press releases, which addressed the most significant claim regarding the potential loss of funding for families depending on the SNAP program.

The Kelly administration stated, “After the USDA rejected the Kansas Department for Children and Families (DCF) Corrective Action Proposal, DCF filed an appeal with the USDA. The filing of that appeal immediately prevented the USDA from withholding the $10.4 million. The State of Kansas has not lost any SNAP administrative funding, and the program continues to operate as usual.”

Moreover, the administration revealed that Kobach made these allegations without conducting prior research or consulting with the Governor’s office. These unsubstantiated claims caused unwarranted panic among Kansas SNAP recipients and raised questions about the continued availability of their benefits. Gov. Kelly was quickly and repeatedly blamed despite no substantial evidence supporting Kobach’s accusations.

In response, Governor Kelly remarked, “Had the Attorney General met with my office prior to filing his lawsuit, as my office had requested, we could have explained the issue without having to go through the time and expense of the court.”

The Kelly administration also clarified that its decision to withhold certain SNAP recipients’ information went beyond Kobach’s claim that Gov. Kelly was “making a show of resistance to the Trump administration,” a statement never issued by anyone in Kelly’s office. Both DCF Secretary Laura Howard and Governor Kelly have expressed distrust of President Donald Trump’s executive order requiring states to share more detailed information about SNAP recipients to prevent fraud.

Secretary Howard explained in an interview with the *Kansas Reflector*, “The release of information isn’t about detecting fraud because those procedures are already in place.” Since effective fraud detection measures were established, Governor Kelly concluded that complying with the federal request to provide additional personal information could potentially violate recipients’ privacy.

Despite this, Kobach characterized the refusal as a “political demonstration,” without providing impartial evidence to support his claim.

Concerns about the Trump administration’s intentions were echoed by multiple parties. U.S. District Judge Maxine Chesney of California ruled against the federal agency’s effort to enforce this new policy after states raised worries that revealing such data could compromise sensitive applicant information—including income, family details, and immigration status—potentially facilitating mass deportations.

Although the Kelly administration did not participate in this lawsuit, its reasoning aligned with that of 21 states involved in the legal challenge.

Governor Kelly addressed the situation on social media, criticizing the “attacks” against her as “childish” and “idiotic.” She stated on X:

> “As public officials, we should be bigger than that and better than that. Kansans face serious challenges; many are just trying to make ends meet, and they expect us to be focused on their problems, not wasting time on idiotic memes. I’d like to invite the Republican officials who I know also disdain these types of silly attacks to join me in trying to restore a basic sense of civility to our politics.”

At the time of publication, Governor Laura Kelly could not be reached for further comment.
https://kstatecollegian.com/2025/10/16/kansas-snap-funding-accusations-examined/

Cotton Bounce Higher on the Midweek Session

Cotton prices are down 30 to 40 points so far on Thursday morning. This follows a turnaround on Wednesday, where futures contracts closed with gains of 20 to 25 points across the front months.

The US dollar index fell by $0.400 on Tuesday, reaching 98.410, while crude oil prices edged up by $0.05 per barrel. Meanwhile, Tuesday’s online auction from The Seam reported just 45 bales sold at an average price of 47.24 cents per pound.

The Cotlook A Index dropped another 35 points on October 14, settling at 74.95 cents. ICE certified cotton stocks remained unchanged on the same date, with the certified stocks level steady at 16,593 bales.

Here is a snapshot of recent cotton futures performance:

– December 2025 Cotton closed at 63.76 cents, up 25 points, but is currently down 40 points.
– March 2026 Cotton closed at 65.33 cents, up 24 points, currently down 34 points.
– May 2026 Cotton closed at 66.55 cents, up 24 points, currently down 36 points.

Stay informed on commodity trends— from crude oil to coffee— by signing up for Barchart’s best-in-class commodity analysis, available for free.

*Disclosure:* On the date of publication, Austin Schroeder did not hold positions (directly or indirectly) in any of the securities mentioned in this article. All information and data provided are for informational purposes only. For more details, please see the [Barchart Disclosure Policy](#).

**More news from Barchart:**

– Will Cotton Ever Rally?
– As China Shuns U.S. Ag Products, Make This 1 Trade Now
– Corn, Soybean, Wheat, Cotton: Let’s Break Down What You Need to Be Watching This Week
– Can Cotton Break Out from Its Bearish Trend?

*The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of Nasdaq, Inc.*
https://www.nasdaq.com/articles/cotton-bounce-higher-midweek-session-0

Tesla Is Still Fighting For Elon Musk’s $56 Billion Payday

Happy Thursday! It’s October 13, 2025, and welcome to *The Morning Shift*, your daily roundup of the top automotive headlines from around the world—all in one place. Here, you’ll find the most important stories shaping the way Americans drive and get around.

In this morning’s edition, we’re looking at Tesla’s ongoing efforts to pay Elon Musk a massive compensation package, Canada’s displeasure with Stellantis over plans to move Jeep production to the United States, threats to federal funding for General Motors and Stellantis, and yet another Ford recall.

### Tesla’s $56 Billion Pay Package Battle Continues

Remember when Elon Musk’s $56 billion pay package was approved, then rescinded, then reinstated, and then rescinded again? Well, Tesla isn’t ready to give up just yet.

According to Reuters, a Tesla attorney argued before the Delaware Supreme Court on Wednesday that Musk’s pay package should have been restored by a shareholder vote last year. This legal battle is entering its final stage after a lower court judge invalidated the CEO’s record-breaking compensation in January 2024.

Tesla is also appealing the court’s rejection of the shareholder vote to reinstate Musk’s pay. This case highlights a familiar dynamic in corporate America: while companies try to pay workers as little as possible, executives often secure enormous compensation packages justified by the need to attract “top talent.”

Of course, executives themselves often set their own pay rates—and that talent attraction rarely trickles down to other roles.

### Canada Threatens Legal Action Over Stellantis Jeep Production Shift

Stellantis manufactures many vehicles in Canada, but after tariffs imposed during the Trump administration, the company has started considering shifting some production to the U.S. Unsurprisingly, Canada isn’t happy.

*Automotive News* reports that Canada has threatened legal action following Stellantis’ announcement to move Jeep Compass SUV manufacturing from Brampton, Ontario, to Belvidere, Illinois.

Canada’s Industry Minister Melanie Joly labeled the move “unacceptable,” pointing out that Stellantis had previously received federal and provincial support based on an agreement to maintain its full Canadian footprint, including the Brampton plant.

Joly demanded Stellantis quickly identify new production mandates for the Brampton facility to keep it central to the company’s manufacturing footprint and ensure contracts with Canadian suppliers are honored.

While Canada may care less about the Compass specifically, the government is adamant that the Brampton factory continues operating. If it switches to making something else, that’s fine, but it has to stay active.

### Federal Funding at Risk for GM and Stellantis Amid Political Shifts

Since the Trump administration prioritized rolling back climate-focused programs, the future of federal funding for progressive initiatives has become uncertain. These programs, often dismissed as “leftist” or “socialist,” include projects supporting electric vehicles and green technology.

*Automotive News* shares that the Department of Energy recently terminated funding for 233 projects described as part of “the Left’s climate agenda.” Included in a leak published by news outlet Semafor on October 7 are several awards tied to automotive giants: five for General Motors, two for Stellantis, plus others involving Bosch and Plug Power.

While the list has not been officially confirmed, Semafor has a reliable track record.

If GM and Stellantis begin losing federal funding—especially given that the U.S. has pushed them to conduct business domestically, sometimes at the expense of international advantages—their financial outlook and strategic calculations could change drastically.

Stay tuned for more updates throughout the day!
https://www.jalopnik.com/1998560/tesla-still-fighting-for-elon-musk-56-billion-dollar-package/

Salesforce jumps 4% after giving new revenue target of $60 billion by 2030

Salesforce (NYSE: CRM) saw its stock price climb approximately 3.6% during after-market trading on Wednesday.

This surge followed the company’s announcement of new long-term revenue targets during its Investor Day at Dreamforce. The updated guidance reflects Salesforce’s growth strategy and future outlook for the coming years.
https://seekingalpha.com/news/4504605-salesforce-jumps-4-after-giving-new-revenue-target-of-60-billion-by-2030?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news

Apex Mining resumes Maco mine activities after Davao quakes

MANILA, Philippines — Apex Mining Co. Inc. has resumed operations at its Maco mine in Davao de Oro as of Wednesday. This follows a temporary closure that was implemented due to recent earthquakes in the area.

The Razon Group’s listed mining company initially suspended operations at the Maco mine last week after receiving an order from the provincial government. The suspension was a precautionary measure to ensure safety and assess any potential damages caused by the seismic activity.

For more details on the recent developments, read: Ports tycoon Razon takes over Apex Mining.

https://business.inquirer.net/552832/apex-mining-resumes-maco-mine-activities-after-davao-quakes

温室ガス濃度、記録更新 化石燃料や山火事、WMO


title: 温室ガス濃度、記録更新 化石燃料や山火事が要因とWMO報告
date: 2025-10-16 06:43
categories: 社会, 科学・環境

世界気象機関(WMO)は15日、主な温室効果ガスである二酸化炭素(CO2)、メタン、一酸化二窒素の大気中の濃度が2024年に最高記録を更新したと発表しました。

この濃度上昇には、化石燃料の消費に加え、北半球・南半球で発生した大規模な山火事も大きく影響しているとされています。

WMOの発表は、地球温暖化問題の深刻さを改めて示すものであり、温室効果ガスの削減に向けた国際的な取り組みの強化が求められています。

(2025年10月16日、西日本新聞me)

※この記事は有料会員限定です。残り文字数:354文字
7日間無料トライアルや、1日37円の読み放題プラン、年払いプランもご用意しております。


https://www.nishinippon.co.jp/item/1411854/