Oaktree's Marks Says Trump Values Unpredictability, Be Cautious

Oaktree Capital Management LP co-founder Howard Marks said investors should expect uncertainty to endure under US President Donald Trump and relatively high valuations in global markets require a cautious stance.
'As someone who is a serial negotiator, he values unpredictability, and I think you're going to have that for a long time,' Marks said of Trump at the Morgan Stanley Australia Summit on Thursday in Sydney via video link from Spain.

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Yahoo

an hour ago

• Yahoo

How Trump has targeted Harvard's international students — and what the latest court ruling means

President Donald Trump and his administration have tried several tactics to block Harvard University's enrollment of international students, part of the White House's effort to secure policy changes at the private, Ivy League college. Targeting foreign students has become the administration's cornerstone effort to crack down on the nation's oldest and wealthiest college. The block on international enrollment, which accounts for a quarter of Harvard's students and much of its global allure, strikes at the core of Harvard's identity. Courts have stopped some of the government's actions, at least for now — but not all. In the latest court order, a federal judge on Friday put one of those efforts on hold until a lawsuit is resolved. But the fate of Harvard's international students — and its broader standoff with the Trump administration — remain in limbo. Here are all the ways the Trump administration has moved to block Harvard's foreign enrollment — and where each effort stands. Homeland Security tries to revoke Harvard's certification to host foreign students In May, the Trump administration tried to ban foreign students at Harvard, citing the Department of Homeland Security's authority to oversee which colleges are part of the Student Exchange and Visitor Program. The program allows colleges to issue documents that foreign students need to study in the United States. Harvard filed a lawsuit, arguing the administration violated the government's own regulations for withdrawing a school's certification. Within hours, U.S. District Judge Allison Burroughs in Boston put the administration's ban on hold temporarily — an order that had an expiration date. On Friday, she issued a preliminary injunction, blocking Homeland Security's move until the case is decided. That could take months or longer. The government can and does remove colleges from the Student Exchange and Visitor Program, making them ineligible to host foreign students on their campus. However, it's usually for administrative reasons outlined in law, such as failing to maintain accreditation, lacking proper facilities for classes, failing to employ qualified professional personnel — even failing to 'operate as a bona fide institution of learning.' Other colleges are removed when they close. Notably, Burroughs' order Friday said the federal government still has authority to review Harvard's ability to host international students through normal processes outlined in law. After Burroughs' emergency block in May, DHS issued a more typical 'Notice of Intent to Withdraw' Harvard's participation in the international student visa program. 'Today's order does not affect the DHS's ongoing administrative review,' Harvard said Friday in a message to its international students. 'Harvard is fully committed to compliance with the applicable F-1 (student visa) regulations and strongly opposes any effort to withdraw the University's certification.' Trump has sought to ban U.S. entry for incoming Harvard students Earlier this month, Trump himself moved to block entry to the United States for incoming Harvard students, issuing a proclamation that invoked a different legal authority. Harvard filed a court challenge attacking Trump's legal justification for the action — a federal law allowing him to block a 'class of aliens' deemed detrimental to the nation's interests. Targeting only those who are coming to the U.S. to study at Harvard doesn't qualify as a 'class of aliens,' Harvard said in its filing. Harvard's lawyers asked the court to block the action. Burroughs agreed to pause the entry ban temporarily, without giving an expiration date. She has not yet ruled on Harvard's request for another preliminary injunction, which would pause the ban until the court case is decided. 'We expect the judge to issue a more enduring decision in the coming days,' Harvard told international students Friday. At the center of Trump's pressure campaign against Harvard are his assertions that the school has tolerated anti-Jewish harassment, especially during pro-Palestinian protests. In seeking to keep Harvard students from coming to the U.S., he said Harvard is not a suitable destination. Harvard President Alan Garber has said the university has made changes to combat antisemitism and will not submit to the administration's demands for further changes. The administration has stepped up scrutiny of Harvard scholars' and students' visas In late May, Secretary of State Marco Rubio directed U.S. embassies and consulates to start reviewing social media accounts of visa applicants who plan to attend, work at or visit Harvard University for any signs of antisemitism. On Wednesday, the State Department said it was launching new vetting of social media accounts for foreigners applying for student visas, and not just those seeking to attend Harvard. Consular officers will be on the lookout for posts and messages that could be deemed hostile to the United States, its government, culture, institutions or founding principles, the department said, telling visa applicants to set their social media accounts to 'public.' In reopening the visa process, the State Department also told consulates to prioritize students hoping to enroll at colleges where foreigners make up less than 15% of the student body, a U.S. official familiar with the matter said. The official spoke on condition of anonymity to detail information that has not been made public. Foreign students make up more than 15% of the total student body at almost 200 U.S. universities — including Harvard and the other Ivy League schools, according to an Associated Press analysis of federal education data from 2023. Most are private universities, including all eight Ivy League schools. Some Harvard students are also caught up in the government's recent ban against travel to the U.S. by citizens of 12 nations, mostly in Africa and the Middle East. The Trump administration last weekend called for 36 additional countries to commit to improving vetting of travelers or face a ban on their citizens visiting the United States. International students make up half the students at some Harvard programs Harvard sponsors more than 7,000 people on a combination of F-1 and J-1 visas, which are issued to students and to foreigners visiting the U.S. on exchange programs such as fellowships. Across all the schools that make up the university, about 26% of the student body is from outside the U.S. But some schools and programs, by nature of their subject matter, have significantly more international students. At the Harvard Kennedy School, which covers public policy and public administration, 49% of students are on F-1 visas. In the business school, one-third of students come from abroad. And within the law school, 94% of the students in the master's program in comparative law are international students. The administration has imposed a range of sanctions on Harvard since it rejected the government's demands for policy reforms related to campus protests, admissions, hiring and more. Conservatives say the demands are merited, decrying Harvard as a hotbed of liberalism and antisemitism. Harvard says the administration is illegally retaliating against the university. ____ The Associated Press' education coverage receives financial support from multiple private foundations. The AP is solely responsible for all content. Find the AP's standards for working with philanthropies, a list of supporters and funded coverage areas at

Yahoo

an hour ago

• Yahoo

Invest $20,000 in a TSX Stock, Create $1,278.98 in Passive Income

Written by Amy Legate-Wolfe at The Motley Fool Canada When inflation is high and the cost of living keeps climbing, reliable income from investments becomes more important than ever. One of the best ways to generate this income is through dividend-paying stocks on the TSX. And if I had $20,000 to invest right now, I'd seriously consider putting it into Peyto Exploration & Development (TSX:PEY). This dividend-paying energy stock offers both stability and strong returns, especially for those looking to boost their monthly cash flow. Peyto is one of Canada's most established natural gas producers. Based in Alberta, it focuses on exploration and development in the Deep Basin, an area rich in natural gas and natural gas liquids. What sets it apart is how efficiently it runs its operations. The dividend stock built a reputation for keeping costs low and margins strong. That gives it the flexibility to return more cash to shareholders, something that's especially appealing in a world where interest rates are uncertain and recession fears loom. Right now, Peyto trades for about $20.60 per share. Its annual dividend sits at $1.32 per share, which works out to a dividend yield of around 6.4%. That's far above the TSX average. So, if you were to invest $20,000 at today's price, you could buy 969 shares. At $1.32 per share annually, that means you'd receive almost $1,280 in passive income each year. That's about $107 every single month just for holding the dividend stock! COMPANY RECENT PRICE NUMBER OF SHARES DIVIDEND TOTAL PAYOUT FREQUENCY INVESTED AMOUNT PEY $20.62 969 $1.32 $1,278.98 Monthly $19,982.78 That level of income is especially appealing inside a TFSA. Because dividends in a TFSA are tax-free, every dollar of that $1,280 stays in your pocket. You don't have to worry about tax slips or losing part of your income to the Canada Revenue Agency (CRA). It's one of the most efficient ways to generate passive income in Canada, and Peyto fits perfectly into that strategy. Looking at the company's most recent earnings, Peyto continues to perform well. In the first quarter of 2025, it reported revenue of $323.8 million and earnings per share (EPS) of $0.57. While natural gas prices have come down from their highs, Peyto remains profitable and has kept its payout ratio in check. Over the last twelve months, earnings per share came in at $1.48. This means its current dividend payout is comfortably below earnings, which suggests that the dividend is sustainable. Peyto also pays its dividend monthly, which makes budgeting much easier for investors looking to build consistent cash flow. The monthly payout has held steady at $0.11 per share for the last 12 months. That consistency is hard to find, especially in the energy sector, where prices can swing wildly. But Peyto's disciplined approach to debt and cost control helps it ride out the cycles more smoothly than some of its peers. Of course, no investment is risk-free. Peyto's business is tied closely to the price of natural gas. If prices fall sharply, earnings could take a hit. But management has a solid track record of adjusting capital spending and maintaining flexibility when needed. And even during tough times, it has shown a strong commitment to preserving its dividend. In short, if you're looking to put $20,000 to work in a way that generates meaningful monthly income, Peyto is worth a close look. With its 6.4% yield, monthly payouts, and reliable operations, it stands out as a solid TSX stock for passive income. That $1,280 a year could go a long way toward covering bills, topping up savings, or simply helping you feel more financially secure. And in times like these, that kind of peace of mind is hard to beat. The post Invest $20,000 in a TSX Stock, Create $1,278.98 in Passive Income appeared first on The Motley Fool Canada. More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 2025 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Washington Post

an hour ago

• Washington Post

How Trump has targeted Harvard's international students — and what the latest court ruling means

President Donald Trump and his administration have tried several tactics to block Harvard University's enrollment of international students, part of the White House's effort to secure policy changes at the private, Ivy League college. Targeting foreign students has become the administration's cornerstone effort to crack down on the nation's oldest and wealthiest college. The block on international enrollment, which accounts for a quarter of Harvard's students and much of its global allure , strikes at the core of Harvard's identity. Courts have stopped some of the government's actions, at least for now — but not all.