UWMC Friday said that its proposed acquisition of Two Harbors Investment ended after TWO signed a new merger agreement with CrossCountry Mortgage, replacing the earlier deal with UWM Holdings. “The actions by TWO’s management and board do not reflect the best interests of their shareholders. The same team that had to settle a $375 million lawsuit this past summer is at it again. TWO’s decision app...
UWMC Friday said that its proposed acquisition of Two Harbors Investment ended after TWO signed a new merger agreement with CrossCountry Mortgage, replacing the earlier deal with UWM Holdings. “The actions by TWO’s management and board do not reflect the best interests of their shareholders. The same team that had to settle a $375 million lawsuit this past summer is at it again. TWO’s decision appears to be driven more by ego, than by sound judgment," the company said in a statement. "The deal for us was a strategy to acquire their servicing book, not their operations, as ultimately there are no operational efficiencies to gain — UWMs operations are best in class," it said. More on UWM Holdings, Two Harbors Investment Two Harbors: New Takeover Offer Provides A Lifeline UWM Holdings Corporation 2025 Q4 - Results - Earnings Call Presentation UWM Holdings Corporation (UWMC) Q4 2025 Earnings Call Prepared Remarks Transcript Two Harbors terminates UWM deal for CrossCountry's superior $10.80 per share offer Two Harbors deems CrossCountry's $10.70/share proposal 'superior' to UWM Holdings'
Shutthiphong Chandaeng/iStock via Getty Images At a glance Performance The Fund returned 4.75% and the Russell 2500™ Growth Index returned 0.33%. Contributors/detractors Stock selection in the healthcare sector contributed to relative performance. Stock selection in the real estate sector detracted. Outlook We see a favorable environment for small-cap stocks, given their attractive relative valuat...
Shutthiphong Chandaeng/iStock via Getty Images At a glance Performance The Fund returned 4.75% and the Russell 2500™ Growth Index returned 0.33%. Contributors/detractors Stock selection in the healthcare sector contributed to relative performance. Stock selection in the real estate sector detracted. Outlook We see a favorable environment for small-cap stocks, given their attractive relative valuations and a more accommodative backdrop for mergers and acquisitions. Investment environment • Stocks rose in the fourth quarter on positive corporate earnings news and hopes for Federal Reserve (Fed) rate cuts. The Fed followed up a September rate cut with two 25 basis-point (bp) rate cuts, in October and December, respectively. • Economic growth remains resilient despite policy headwinds and slower-than-expected job growth. Inflation also has been relatively subdued. • The quarter saw some recalibration of the exuberance around artificial intelligence (AI) that characterized the market in 2025. As a result, we saw a broadening of the market and renewed focus on fundamentals, which benefited our fundamentals-driven investment approach. Portfolio review We were pleased to see many of our investments rewarded during the period, especially in the healthcare sector. Praxis Precision Medicines, a top performer, is a clinical-stage biopharmaceuticals company that uses genetic information to develop treatments for central-nervous-system conditions. The company has gained more attention from investors after reporting positive late-stage trial results for several products. These included Vormatrigine, an investigational anti-seizure medication that has shown effectiveness in addressing treatment-resistant epilepsy. Even with recent outperformance, the stock trades at a discount to its peers. Given that Praxis has multiple products in late-stage trials, we see several potential catalysts that could drive further investor interest in the company. Globus Medical was another contributor...
Adelle Nazarian of Innovexus Consulting warns that an escalation extending to US boots on the ground in Iran is increasingly likely, with neither the US or Iran in a position to back down. She speaks after President Donald Trump said that Iran “gave” the US most of the 15 demands it issued to Tehran to end the war, even as it remains unclear whether either side is negotiating. (Source: Bloomberg)
Adelle Nazarian of Innovexus Consulting warns that an escalation extending to US boots on the ground in Iran is increasingly likely, with neither the US or Iran in a position to back down. She speaks after President Donald Trump said that Iran “gave” the US most of the 15 demands it issued to Tehran to end the war, even as it remains unclear whether either side is negotiating. (Source: Bloomberg)
Europe's leading AI provider Mistral has raised $830 million in new debt to buy 13,800 Nvidia chips for a major data centre near Paris, the firm told Reuters, as Europe races to scale AI infrastructure to compete with the U.S. and China. The deal, set to be announced on Monday, marks Mistral's first debt raising and underscores growing investor confidence in European AI firms as they seek to c...
Europe's leading AI provider Mistral has raised $830 million in new debt to buy 13,800 Nvidia chips for a major data centre near Paris, the firm told Reuters, as Europe races to scale AI infrastructure to compete with the U.S. and China. The deal, set to be announced on Monday, marks Mistral's first debt raising and underscores growing investor confidence in European AI firms as they seek to challenge the dominance of U.S. tech giants like Microsoft, Google and Amazon in cloud computing and AI services. Mistral's debt raising was financed by a consortium of seven banks, including BNP Paribas, Crédit Agricole CIB, HSBC and MUFG, it said.
Middle East conflict enters fifth week as Israel strikes Tehran and Saudi Arabia intercepts nearly a dozen drones after Yemen’s Houthis join the fighting. (Source: Bloomberg)
Middle East conflict enters fifth week as Israel strikes Tehran and Saudi Arabia intercepts nearly a dozen drones after Yemen’s Houthis join the fighting. (Source: Bloomberg)
A deep dive into the horror novelist’s archives reveals pedantry, penny-pinching, and a total redraft of Carrie When Caroline Bicks first met Stephen King she was worried. As a teenager she had scared herself silly with his books – Carrie and The Shining were the two that crept under her skin and refused to budge – but now she found herself in the odd position of being Stephen E King professor at ...
A deep dive into the horror novelist’s archives reveals pedantry, penny-pinching, and a total redraft of Carrie When Caroline Bicks first met Stephen King she was worried. As a teenager she had scared herself silly with his books – Carrie and The Shining were the two that crept under her skin and refused to budge – but now she found herself in the odd position of being Stephen E King professor at the University of Maine. King had endowed the chair at his alma mater in 2016 for the study of literature, and Dr Bicks was a Harvard-trained Shakespeare specialist. What, beyond a name, would they really have in common? At the time of her appointment, Bicks’s employers had told her not to initiate contact with the famous author in any way. But four years into the job she got a phone call from “Steve” who turned out to be a teddy bear: “I couldn’t believe it. The man responsible for terrifying generations of readers – including me – was so … nice.” Not quite a meet-cute, but promising. Continue reading...
Interest rates as high as 4.45% and a steep cut in next year’s allowance fuel forecast of last-minute rush Savers who want to make the most of this year’s cash Isa allowance are being urged not to leave it to the last minute, as the deadline for applications falls on the Easter weekend. The Isa wrapper allows people to save or invest money and benefit from the returns free of tax. Each tax year, p...
Interest rates as high as 4.45% and a steep cut in next year’s allowance fuel forecast of last-minute rush Savers who want to make the most of this year’s cash Isa allowance are being urged not to leave it to the last minute, as the deadline for applications falls on the Easter weekend. The Isa wrapper allows people to save or invest money and benefit from the returns free of tax. Each tax year, people can pay in up to £20,000, which can then be moved around in subsequent years without the tax benefits being lost. Continue reading...
Millions are dipping into savings or borrowing to get by as the Iran war drives up prices, survey shows The Iran war has led to a surge in pessimism in the UK as half of households are already struggling to afford everyday essentials. The escalating conflict in the Middle East , which has driven the price of oil, gas, crop fertiliser and other raw materials sharply higher, threatens to cause anoth...
Millions are dipping into savings or borrowing to get by as the Iran war drives up prices, survey shows The Iran war has led to a surge in pessimism in the UK as half of households are already struggling to afford everyday essentials. The escalating conflict in the Middle East , which has driven the price of oil, gas, crop fertiliser and other raw materials sharply higher, threatens to cause another cost of living shock . Continue reading...
Jude Chehab turns the camera on the maelstrom – and slow liberation – after her mother’s expulsion from controversial group al-Qubaysiat Opening the Pandora’s box of her family secrets, Jude Chehab makes a complex and moving documentary debut that unfolds both as an investigation and as a kind of intergenerational therapy. For decades, her mother, Hiba, was devoted to al-Qubaysiat, a highly secret...
Jude Chehab turns the camera on the maelstrom – and slow liberation – after her mother’s expulsion from controversial group al-Qubaysiat Opening the Pandora’s box of her family secrets, Jude Chehab makes a complex and moving documentary debut that unfolds both as an investigation and as a kind of intergenerational therapy. For decades, her mother, Hiba, was devoted to al-Qubaysiat, a highly secretive female Muslim order that operates in Lebanon and Syria. Chehab’s grandmother Doria had also been a follower, and the film-maker herself was initiated into the group as a young girl. For the two older women, this all-female religious movement inspired feelings of solidarity and freedom, yet al-Qubaysiat also demanded absolute submission to the leader, known to followers as the Anisa, or the Teacher. And when Hiba was expelled for unclear transgressions, her world fell apart. In contrast to other documentaries on controversial organisations, Chehab’s film doesn’t sensationalise the tactics of indoctrination. In fact, information about the group only comes in bits and pieces, as revealed by Hiba and Doria. This storytelling choice lifts the focus away from the unseen but powerful Anisa, focusing instead on the emotional maelstrom endured by Hiba and the rest of Chehab’s family. Chehab might have thought of her camera as a potent tool for catharsis, yet when she urged her father to speak on the al-Qubaysiat, his answers were not as scathing as she had hoped, as if he had gone off an imaginary script. Continue reading...
M Gessen explores the wild truth about his cousin, who keeps kidnapping his own child. Plus: will the world of porn really be Screwed By AI? “Anyone’s first cousin could be plotting murder …” New York Times columnist M Gessen is the reporter and host of this leftfield five-parter released under the NYT/Serial Productions banner, with shades of its previous series such as We Were Three and S-Town. ...
M Gessen explores the wild truth about his cousin, who keeps kidnapping his own child. Plus: will the world of porn really be Screwed By AI? “Anyone’s first cousin could be plotting murder …” New York Times columnist M Gessen is the reporter and host of this leftfield five-parter released under the NYT/Serial Productions banner, with shades of its previous series such as We Were Three and S-Town. A braggart with a problematic habit of kidnapping his own son, M’s “idiot” cousin Allen is charged with ordering a hit on his ex-wife, Priscilla. Hannah J Davies Widely available, episodes weekly Continue reading...
Beyond the Belgian capital’s more obvious sights lies a thriving district known for its classic Belgian cuisine, alternative art scene and gigantic flea market The Brusseleir dialect that’s still spoken in much of the Marolles dates back to the middle ages, a symbol of the independence of this proudly working-class neighbourhood in central Brussels. Located between the Palace of Justice and Halle ...
Beyond the Belgian capital’s more obvious sights lies a thriving district known for its classic Belgian cuisine, alternative art scene and gigantic flea market The Brusseleir dialect that’s still spoken in much of the Marolles dates back to the middle ages, a symbol of the independence of this proudly working-class neighbourhood in central Brussels. Located between the Palace of Justice and Halle Gate, it’s always been an inclusive refuge for immigrants from Europe and north Africa. The must-see Brussels tourist attractions of the Grand-Place central square and Mannekin-Pis statue are within walking distance, but the Marolles offers a very different experience: fashion, antiques and bric-a-brac shopping; alternative creative centres and provocative graffiti; characteristic estaminets (hybrid pub, cafe, bistros) specialising in hearty local dishes; and artisan breweries. Continue reading...
When Merlin came to live with me, his only job was to clear the weeds from my fields. But his calm, affectionate nature has made him a vital part of my therapy practice Merlin the sheep came to me by chance four years ago. A friend of mine had a lamb she was bottle-feeding, but she couldn’t look after it any more so she asked me if I could take care of it. I live in Moortown, Leeds, and rent about...
When Merlin came to live with me, his only job was to clear the weeds from my fields. But his calm, affectionate nature has made him a vital part of my therapy practice Merlin the sheep came to me by chance four years ago. A friend of mine had a lamb she was bottle-feeding, but she couldn’t look after it any more so she asked me if I could take care of it. I live in Moortown, Leeds, and rent about three hectares (seven acres) of land in Eccup, a small village nearby, where I’ve kept horses for about 13 years. I needed some help clearing the weeds that the horses wouldn’t eat and sheep seemed like the best solution because they’ll eat anything – so I said yes. The lamb was called Bambi and when I came to collect her, my friend offered me another lamb, Merlin. Shortly after, Bambi died and it was just Merlin left. It wasn’t long until he started to show his special powers. Continue reading...