Boy, 17, charged after bottle of liquid set alight and thrown through window of Kenton united synagogue in Harrow A 17-year-old boy has been charged with arson after an attack on a synagogue in north-west London. The teenager, a British national from Brent, north-west London, who has not been named because of his age, is due to appear at Westminster magistrates court on Tuesday. Continue reading.....
Boy, 17, charged after bottle of liquid set alight and thrown through window of Kenton united synagogue in Harrow A 17-year-old boy has been charged with arson after an attack on a synagogue in north-west London. The teenager, a British national from Brent, north-west London, who has not been named because of his age, is due to appear at Westminster magistrates court on Tuesday. Continue reading...
Brady has been target of fan anger with club struggling She says Conference League win was the highlight Karren Brady has stepped down as vice-chair of West Ham. She joined the club’s board in January 2010 and has announced her departure the morning after West Ham drew at Crystal Palace to sit two points above the Premier League’s relegation zone. Brady and the co-owner David Sullivan have been th...
Brady has been target of fan anger with club struggling She says Conference League win was the highlight Karren Brady has stepped down as vice-chair of West Ham. She joined the club’s board in January 2010 and has announced her departure the morning after West Ham drew at Crystal Palace to sit two points above the Premier League’s relegation zone. Brady and the co-owner David Sullivan have been the target of fan anger. In a statement to the Times , Brady said: “It has been a privilege to work alongside the board, management, players, staff and supporters at West Ham United. Continue reading...
artisteer/iStock via Getty Images Investment Thesis Right now the market seems to be only looking at the next quarter or the next year's guidance and not at the full picture, at least for any company operating in the supply chain of building out data centers. Celestica ( CLS ) has seen strong demand for its communications segment, which works as a sort of plumber, enabling connectivity between dat...
artisteer/iStock via Getty Images Investment Thesis Right now the market seems to be only looking at the next quarter or the next year's guidance and not at the full picture, at least for any company operating in the supply chain of building out data centers. Celestica ( CLS ) has seen strong demand for its communications segment, which works as a sort of plumber, enabling connectivity between data centers and GPUs, making data transfer much faster, and helping lower operating costs. What some seem to forget is that CLS is not alone working with this. There are 3 major competitors, all of which have larger cash piles ready to be deployed. But then you have the long-term risk of this hardware installation becoming standardized, letting overseas companies mass produce it for much less, leading to market share erosion for companies like CLS. So what might seem like a moderate play right now could quickly turn into a large downside risk. I’m not confident rating this a buy. Given the long-standing history that CLS has in the industry, it might help mitigate some of the risk, meaning a sell rating would also be too harsh. This leads me to only one choice: rating CLS a Hold for the moment. Celestica Overview With CLS, there are two main segments. One where most investors would be looking, the CCS segment, which covers data center operations. The second one, the ATS segment, works instead with aerospace and defense, where customers typically are OEMs in a very diverse range of end markets. CCS Segment Revenues (Author / CLS SEC Filings) The biggest shift in customer types has been "communications" now being 57% of the revenues, having been at only 33% in 2023. This seems to purely come from the CCS segment scaling its revenues at a rapid pace. Looking back, the growth has had some shaky years when revenues between 2018 and 2021 fell by nearly 20%. It has since recovered very well, all thanks to the massive investments being poured into the data center market right now. CLS...
The euro is the second-best G-10 performer against the dollar over the past month, defying expectations that the energy shock caused by the Middle East war would hit Europe’s economy and drag the currency lower. More than seven weeks into the war, the euro is trading near $1.18, roughly the same level as before the US and Israel launched strikes against Iran. Looking ahead, options traders say tha...
The euro is the second-best G-10 performer against the dollar over the past month, defying expectations that the energy shock caused by the Middle East war would hit Europe’s economy and drag the currency lower. More than seven weeks into the war, the euro is trading near $1.18, roughly the same level as before the US and Israel launched strikes against Iran. Looking ahead, options traders say that a mix of steady prices and low volatility is creating even more demand for bullish bets. The euro has, essentially, gone off script. Energy prices did spike in Europe, which relies on imported gas to power factories and heat homes. The prospects for peace are unclear, and the Strait of Hormuz remains effectively blocked. Yet the euro has largely stabilized, with hedging costs returning to pre-war levels by early April, even as sterling and the yen still reflected elevated risk. “The conflict is still not resolved and we are back down already — is the market bored with it?” asked Andreas Koenig , global head of FX at Amundi SA, which manages about $2.6 trillion in assets. Hedging costs over the next month remain subdued, with implied volatility near 6%, short of this year’s highs above 9% and below the longer-term average. At the same time, traders are bullish on the currency’s prospects. That can be seen in the price action on one-year risk reversals, which gauge how expensive it is to buy versus sell a currency in the options market. It’s unclear why the euro has performed so well following an initial dip in the opening phase of the war, but the dynamic has opened the door for directional trades that are attracting both hedge funds and longer-term institutional investors. Amundi has been buying euro options that only kick in if the currency dips to $1.16. The idea is two-fold: if the conflict escalates and the euro weakens, the option takes effect; if tensions later ease, a broader view that the dollar will gradually slide comes into play. “My view is still unchanged — t...