Sarah Jones appeals for calm after rioting over the death of Nowak, who was handcuffed while dying from stab wound Yesterday Nigel Farage, the Reform UK leader, delivered what he called an “emergency address to the nation” on YouTube at around this time. In it, he claimed that the Henry Nowak case was proof that white people were treated unfairly in the UK. He said that George Floyd (whom he descr...
Sarah Jones appeals for calm after rioting over the death of Nowak, who was handcuffed while dying from stab wound Yesterday Nigel Farage, the Reform UK leader, delivered what he called an “emergency address to the nation” on YouTube at around this time. In it, he claimed that the Henry Nowak case was proof that white people were treated unfairly in the UK. He said that George Floyd (whom he described as a “career criminal”) died in policy custody in the US, there was a surge in support for the Black Lives Matter campaign, with Keir Starmer taking the knee. But nothing remotely similar has occurred after the death of Nowak, Farage claimed. Silence, absolute silence, proof, if ever there was any, that we’re living in a two-tier culture in this country where the rights and privileges of white people matter less than those of ethnic minorities. Enough of anti white prejudice a promotion of the idea that white lives matter just as much as black lives. An end to DEI [diversity, equity and inclusion] and positive discrimination, but a country that treats everybody equally and fairly before the law. This is serious. This is urgent. I fear for where our society would be in a few short years if we don’t grip this and do it very, very quickly. I don’t think the evidence at the moment would suggest that, if you look at the facts and figures about policing. I will always listen to the police in terms of what they’re saying and the home secretary said yesterday [that] we need to talk to the police. We need to talk to the Sikh community. We need to talk to knife crime campaigners. We need to understand what it is we need to do differently and better and we will do that. Continue reading...
Hong Kong’s Exchange Fund is looking for investment managers who can help it closely track the movement of the S&P 500 Index , according to people familiar with the matter. The HK$4.3 trillion ($550 billion) fund has been considering pitches in recent months but still hasn’t made a final decision, one of the people said. The Exchange Fund has asked for a so-called low-tracking-error approach, mean...
Hong Kong’s Exchange Fund is looking for investment managers who can help it closely track the movement of the S&P 500 Index , according to people familiar with the matter. The HK$4.3 trillion ($550 billion) fund has been considering pitches in recent months but still hasn’t made a final decision, one of the people said. The Exchange Fund has asked for a so-called low-tracking-error approach, meaning managers should attempt to limit the difference between how their funds perform and the returns of the S&P 500, the people said, asking not to be named because the details are private. It’s unclear how much the Exchange Fund will commit to the new S&P 500 mandate. It also adopts an active fundamental stock selection approach for the US, the people added. The mandate is part of the fund’s manager performance review process, the people said. The fund doesn’t publicly disclose US equities or fixed-income positions. The Exchange Fund is managed by the Hong Kong Monetary Authority , the city’s de facto central bank. The HKMA said it doesn’t comment on the specific details of its investment activities, but added that it engages different external asset managers to help manage various asset classes from time to time. Tracking Closely Low-tracking-error strategies limit managers from deviating from a benchmark outside a certain range. Tracking errors can occur because fund managers often don’t buy all of the stocks in an index, relying instead on a portfolio they think will rise and fall alongside the benchmark. Low-tracking-error approaches have become a feature of so-called enhanced investing, which has gained popularity in recent years, said Rupeng Chen, who leads the institutional investment and wealth business in North Asia at consultancy Mercer. “We have observed rising popularity of this strategy based on our recent work and client conversations,” Chen said. “The reasons vary, but they largely come down to an intersection of cost efficiency and the challenges many active...
Anna Moneymaker/Getty Images News President Donald Trump has signed an executive order to increase AI oversight, directing companies to provide the government access to advanced models for cybersecurity tests up to 30 days before public release. The executive order directs the departments of Treasury, Homeland Security, Defense and other agencies to design a voluntary framework with AI developers...
Anna Moneymaker/Getty Images News President Donald Trump has signed an executive order to increase AI oversight, directing companies to provide the government access to advanced models for cybersecurity tests up to 30 days before public release. The executive order directs the departments of Treasury, Homeland Security, Defense and other agencies to design a voluntary framework with AI developers to test their models. It calls on the agencies to form an AI cybersecurity clearinghouse, in voluntary collaboration with the AI industry, "that coordinates and deconflicts scanning for software vulnerabilities, discovers and validates such vulnerabilities, and coordinates and prioritizes remediation and distribution of vulnerability patches." The order comes amid mounting national security concerns over powerful AI models like Anthropic's (ANTRHO) Mythos, which can reveal major cybersecurity vulnerabilities across systems. An earlier draft of the executive order called for a longer 90-day review period, CNN reported , but companies pushed for a shorter timeline as they rapidly develop new models to stay ahead in the AI race. "The U.S. should lead on AI by continuing to develop the very best models, making sure they're safe, and getting cyber tools into the hands of trusted defenders," OpenAI ( OPENAI ) CEO Sam Altman posted on X, adding that the executive order "gets the balance right." Anthropic ( ANTHRO ) said the order is an important step in strengthening U.S. leadership in AI. "We look forward to collaborating with the White House to support its implementation." "The EO aims to deepen government and industry collaboration and give cyber defenders more solutions to stop bad actors," said Kent Walker, president of global affairs at Alphabet ( GOOGL ). "We're doing our part to ensure defenders have the AI tools they need to keep America secure." More on artificial intelligence Skeptics Call It Desperate, But Alphabet's $80B Raise Signals Infinite AI Demand Alphabet: The...
Sergei Chuyko/iStock via Getty Images By Kyle Richards North American natural gas demand is poised for a historic increase driven by growth in liquefied natural gas (LNG) exports and the demand for power, which includes data centers. This backdrop is driving unprecedented opportunities for natural gas-focused midstream companies. Learn more about the drivers of upsized midstream backlogs, some maj...
Sergei Chuyko/iStock via Getty Images By Kyle Richards North American natural gas demand is poised for a historic increase driven by growth in liquefied natural gas (LNG) exports and the demand for power, which includes data centers. This backdrop is driving unprecedented opportunities for natural gas-focused midstream companies. Learn more about the drivers of upsized midstream backlogs, some major natural gas projects, and how they're supporting long-term EBITDA growth. Natural Gas-Focused Backlogs Surge Amid Historic Tailwinds Rising international demand for LNG and growing domestic power needs, including for data centers, are requiring new and expanded natural gas infrastructure. The midstream corporations that have disclosed backlog figures have seen significant growth over the past year. This includes both sanctioned projects that are under construction and unsanctioned opportunities in various stages of development. In particular, diversified Canadian midstream name Enbridge ( ENB:CA ), which has disclosed the largest backlog by far, has grown its secured capital program (i.e., sanctioned projects) from C$28 billion in 1Q25 to C$40 billion in 1Q26. Since much of the new natural gas infrastructure is being driven by demand related to LNG and power, contract terms and customer quality are generally stronger now than they were a few years ago ( read more ). As seen below, midstream companies with natural gas infrastructure are investing tens of billions of dollars over the next few years. Importantly, these companies see even more opportunity on the horizon, as represented by the unsanctioned columns in teal. Note that MLPs like Energy Transfer ( ET ) and MPLX ( MPLX ) also have notable natural gas assets but do not disclose backlog figures. Long-Term EBITDA Growth These massive backlogs translate directly into a durable runway for long-term EBITDA growth for names with natural gas infrastructure (as shown in the chart below). Importantly, natural gas pipelines ...
More Hong Kong carriers including Cathay Pacific Airways and Hong Kong Airlines cancelled or rescheduled flights to Japan on Wednesday as Typhoon Jangmi headed towards Tokyo. Cathay, the city’s flag carrier, cancelled six scheduled flights between Hong Kong and Japan, affecting routes to and from Tokyo, Osaka, and Nagoya on Wednesday. The airline said it had notified all affected customers and reb...
More Hong Kong carriers including Cathay Pacific Airways and Hong Kong Airlines cancelled or rescheduled flights to Japan on Wednesday as Typhoon Jangmi headed towards Tokyo. Cathay, the city’s flag carrier, cancelled six scheduled flights between Hong Kong and Japan, affecting routes to and from Tokyo, Osaka, and Nagoya on Wednesday. The airline said it had notified all affected customers and rebooked them onto alternative flights, waiving all rebooking and re-routing fees. “We are closely...
bombermoon The Organisation for Economic Co-operation and Development (OECD) lowered its global growth outlook and cautioned that a prolonged U.S.-Iran war could inflict far greater damage on the world economy unless a durable peace settlement is secured quickly. In its June Economic Outlook , the OECD said global growth is now expected to slow to 2.8% in 2026 from 3.4% in 2025, before recovering ...
bombermoon The Organisation for Economic Co-operation and Development (OECD) lowered its global growth outlook and cautioned that a prolonged U.S.-Iran war could inflict far greater damage on the world economy unless a durable peace settlement is secured quickly. In its June Economic Outlook , the OECD said global growth is now expected to slow to 2.8% in 2026 from 3.4% in 2025, before recovering to 3.1% in 2027, should the current energy price shock start easing by the middle of this year. But that’s assuming a time-limited disruption scenario in which a peace agreement is reached and current disruptions to the Strait of Hormuz are swiftly resolved, said Stefano Scarpetta, the OECD’s chief economist. A worse scenario, in which the disruptions to shipping and energy infrastructure continue well into 2027, would see global growth fall sharply to just 2.1% in 2026, and 1.8% in 2027. That would tip some economies into, or close to, recession, Scarpetta warned. The OECD's analysis examines how a closure of the Strait of Hormuz, combined with damage to energy infrastructure across the Gulf region, has driven a sharp rise in energy prices and increased the cost of fertilizers and other critical industrial inputs. Scarpetta said that a durable settlement to the current conflict would not only bring relief to the region but also “lay the groundwork for a resolution to the disruptions it has caused to the global economy.” “The longer the disruptions last, the larger the economic and social costs become,” he said in the report. In the worse-case scenario, global inflation is expected to rise by 0.4 percentage points in 2026 and 1.3 percentage points in 2027. “The consequences would be global but could prove especially severe for developing economies with limited energy reserves, higher shares of energy and food in household consumption, constrained fiscal capacity and weak social safety nets, low private savings buffers, and more fragile currencies.” The crisis also highlight...