Earnings Call Insights: Silvercrest Asset Management Group Inc. (SAMG) Q4 2025 Management View Richard Hough, CEO, President & Chairman, reported that "Silvercrest's discretionary assets under management, which primarily drives the firm's revenue, decreased 1.2% during the fourth quarter from $24.3 billion to $24 billion." For the year, total discretionary AUM increased by 3% to $24 billion, suppo...
Earnings Call Insights: Silvercrest Asset Management Group Inc. (SAMG) Q4 2025 Management View Richard Hough, CEO, President & Chairman, reported that "Silvercrest's discretionary assets under management, which primarily drives the firm's revenue, decreased 1.2% during the fourth quarter from $24.3 billion to $24 billion." For the year, total discretionary AUM increased by 3% to $24 billion, supported by organic net new client accounts and supportive markets. Hough highlighted $124.5 million in organic new client flows in Q4, with full-year 2025 organic new client account flows totaling $688.3 million. He described this as "one of the stronger levels over the past several years, underscoring receptivity to our investment capabilities and momentum across our marketing efforts." The company initiated significant strategic investments in intellectual capital and headcount, noting that "our earnings and adjusted EBITDA are substantially lower than the steady-state business and reflect our concerted effort to invest capital to support long-term strategic priorities." Hough stated, "Our new business pipeline remains particularly robust with regards to our global and international equity strategies bolstered by outstanding performance," and indicated growing recognition through a #6 Nasdaq Investments Q4 2025 brand awareness ranking among midsized firms. Expansion efforts included reorganizing international business development, establishing professionals in London and Australia, nearly completing an Australian investment trust and a UCITS vehicle in Europe, and expecting regulatory approval in Dublin in Q2. Offices have been opened in Atlanta and Singapore, with further hiring expected in Dublin. Hough explained, "Our compensation ratio remains elevated during the fourth quarter and for the full year 2025. We expect the compensation ratio to remain elevated for the foreseeable future as these investments mature and begin to contribute to revenue growth." He said, "We prev...
Pla2na/iStock via Getty Images Portfolio management Adam Hetts, CFA Oliver Blackbourn, CFA Investment environment Global equities rose on signs of stable economic growth, positive corporate earnings, and hopes for central-bank rate cuts outside of Japan. The U.S. Federal Reserve (Fed) reduced rates twice during the quarter. Global fixed income securities declined in U.S. dollar terms. The yield on...
Pla2na/iStock via Getty Images Portfolio management Adam Hetts, CFA Oliver Blackbourn, CFA Investment environment Global equities rose on signs of stable economic growth, positive corporate earnings, and hopes for central-bank rate cuts outside of Japan. The U.S. Federal Reserve (Fed) reduced rates twice during the quarter. Global fixed income securities declined in U.S. dollar terms. The yield on U.S. benchmark 10-year Treasuries ended the quarter relatively unchanged, as investors tried to assess the outlook for the U.S. economy and Fed policy. UK benchmark yields fell on hopes that easing inflation and a weaker economy may lead to rate cuts. Japan’s 10-year yield rose to the highest level in 25 years on expectations for continued cautious tightening by the Bank of Japan. Portfolio review The portfolio held an overweight allocation to international fixed income. These investments contributed to relative performance. However, the portfolio's underweight allocation to U.S. fixed income detracted on a relative basis. In the equity market, the portfolio's modest overweight to U.S. equities was a small contributor to relative performance. The portfolio held a slight underweight in international equities, and these investments had a neutral impact on relative performance. The portfolio’s equity and fixed income exposures during the period averaged 42.48% and 55.47%, respectively. Manager outlook This economic and market environment is one of profound change and therefore presents a profound opportunity set for active investors. Sources of the change include the revolution in artificial intelligence (AI), the possibility of Europe undertaking a generational shift toward pro-growth reforms, and geopolitical realignment and global monetary policy continuing to diverge, with the resumption of U.S. rate cuts potentially extending the economic cycle. The outcomes of these developments are far from settled. So, while there are many reasons for optimism, we believe that investo...
Richard Drury/DigitalVision via Getty Images Investment Approach Fidelity® Growth Strategies Fund is a diversified domestic equity strategy with a mid-cap growth orientation. Our philosophy is anchored in the belief that the market often misjudges either the durability or magnitude of growth, presenting an opportunity to generate alpha (risk-adjusted excess returns). Our investment process focuses...
Richard Drury/DigitalVision via Getty Images Investment Approach Fidelity® Growth Strategies Fund is a diversified domestic equity strategy with a mid-cap growth orientation. Our philosophy is anchored in the belief that the market often misjudges either the durability or magnitude of growth, presenting an opportunity to generate alpha (risk-adjusted excess returns). Our investment process focuses on building a mosaic around key drivers via fundamental research to help identify when growth expectations are mispriced. Through this approach, we attempt to uncover quality companies that exhibit persistent, above-average growth. When purchased at sensible valuations, we believe these stocks can outperform over time. Performance Summary Cumulative Annualized 3 Month YTD 1 Year 3 Year 5 Year 10 Year/LOF 1 Fidelity Growth Strategies FundGross Expense Ratio: 0.76% 2 -3.44% 12.63% 12.63% 19.91% 9.00% 12.19% Russell Midcap Growth Index -3.70% 8.66% 8.66% 18.64% 6.65% 12.49% Morningstar Fund Mid-Cap Growth -1.87% 7.67% 7.67% 15.15% 3.69% 10.91% % Rank in Morningstar Category (1% = Best) -- -- 23% 18% 7% 22% # of Funds in Morningstar Category -- -- 490 472 446 371 Click to enlarge 1 Life of Fund (LOF) if performance is less than 10 years. Fund inception date: 12/28/1990. 2 This expense ratio is from the most recent prospectus and generally is based on amounts incurred during the most recent fiscal year, or estimated amounts for the current fiscal year in the case of a newly launched fund. It does not include any fee waivers or reimbursements, which would be reflected in the fund's net expense ratio. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance stated. Performance shown is that of the fund's Retail Class shares (if multiclass). You may own another share class of the fund wit...
Consumer stocks were higher Tuesday afternoon, with the State Street Consumer Staples Select Sector Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
Consumer stocks were higher Tuesday afternoon, with the State Street Consumer Staples Select Sector Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
Israel claims it has killed the influential Iranian national security chief Ali Larijani in overnight strikes. If confirmed, Larijani’s death would represent a devastating blow to the regime, and the most senior official to die since Ali Khamenei’s death. Lucy Hough speaks to deputy head of international news, Devika Bhat. Continue reading...
Israel claims it has killed the influential Iranian national security chief Ali Larijani in overnight strikes. If confirmed, Larijani’s death would represent a devastating blow to the regime, and the most senior official to die since Ali Khamenei’s death. Lucy Hough speaks to deputy head of international news, Devika Bhat. Continue reading...
Apple (AAPL) builds consumer tech that blends hardware, software, and services into one seamless experience, keeping users deeply connected within its ecosystem. Over time, it has turned that integration into a powerful revenue engine, driving both device sales and recurring income. Now, after years of silence in its premium headphone lineup, Apple is back with a fresh update that’s already catchi...
Apple (AAPL) builds consumer tech that blends hardware, software, and services into one seamless experience, keeping users deeply connected within its ecosystem. Over time, it has turned that integration into a powerful revenue engine, driving both device sales and recurring income. Now, after years of silence in its premium headphone lineup, Apple is back with a fresh update that’s already catching the market’s attention. The company has unveiled the AirPods Max 2, its first major refresh since 2020, giving AAPL stock a slight lift. At $549, Apple clearly is not trying to play the budget game. Instead, it is leaning deeper into the premium space, packing in its H2 chip, better noise cancellation, improved mic quality, and a bunch of artificial intelligence (AI)-driven features like Live Translation and Adaptive Audio. It is the kind of upgrade that feels smooth and polished. In other words, very on brand for Apple. But zooming out a bit, this launch is about more than just headphones. Apple is up against strong rivals like Sony Group (SONY) and Bose Corporation, all fighting for the same high-end customer. Sure, it’s a solid upgrade, but is it enough to really move the needle for Apple’s stock story, especially when AAPL is already in the red in 2026? About Apple Stock Apple, the $3.7 trillion technology giant born in Cupertino, California, has spent decades reshaping how the world works, creates, and connects. From the iPhone that redefined mobility to the Mac and iPad that blurred the line between work and creativity, Apple built its reputation on products that feel personal yet powerful. Today, its story has evolved beyond devices. The company’s growing services business has become a quiet force, anchored by more than a billion paid subscriptions. High-margin offerings like iCloud, Apple Music, and the App Store now form a steady backbone, helping Apple navigate global uncertainty while deepening user loyalty. Apple might still wear the innovation crown, but its...
Apple (AAPL) builds consumer tech that blends hardware, software, and services into one seamless experience, keeping users deeply connected within its ecosystem. Over time, it has turned that integration into a powerful revenue engine, driving both device sales and recurring income. Now, after years of silence in its premium headphone lineup, Apple is back with a fresh update that’s already catchi...
Apple (AAPL) builds consumer tech that blends hardware, software, and services into one seamless experience, keeping users deeply connected within its ecosystem. Over time, it has turned that integration into a powerful revenue engine, driving both device sales and recurring income. Now, after years of silence in its premium headphone lineup, Apple is back with a fresh update that’s already catching the market’s attention. The company has unveiled the AirPods Max 2, its first major refresh since 2020, giving AAPL stock a slight lift. At $549, Apple clearly is not trying to play the budget game. Instead, it is leaning deeper into the premium space, packing in its H2 chip, better noise cancellation, improved mic quality, and a bunch of artificial intelligence (AI)-driven features like Live Translation and Adaptive Audio. It is the kind of upgrade that feels smooth and polished. In other words, very on brand for Apple. But zooming out a bit, this launch is about more than just headphones. Apple is up against strong rivals like Sony Group (SONY) and Bose Corporation, all fighting for the same high-end customer. Sure, it’s a solid upgrade, but is it enough to really move the needle for Apple’s stock story, especially when AAPL is already in the red in 2026? About Apple Stock Apple, the $3.7 trillion technology giant born in Cupertino, California, has spent decades reshaping how the world works, creates, and connects. From the iPhone that redefined mobility to the Mac and iPad that blurred the line between work and creativity, Apple built its reputation on products that feel personal yet powerful. Today, its story has evolved beyond devices. The company’s growing services business has become a quiet force, anchored by more than a billion paid subscriptions. High-margin offerings like iCloud, Apple Music, and the App Store now form a steady backbone, helping Apple navigate global uncertainty while deepening user loyalty. Apple might still wear the innovation crown, but its...
Apple might still wear the innovation crown, but its stock chart this year tells a slightly more complicated story. AAPL has not exactly had a smooth ride, caught in a mix of global tensions and shifting tech sentiment. With uncertainty around geopolitical issues like the U.S.-Iran war and growing whispers of an AI bubble, risk appetite has taken a hit. Today, its story has evolved beyond devices....
Apple might still wear the innovation crown, but its stock chart this year tells a slightly more complicated story. AAPL has not exactly had a smooth ride, caught in a mix of global tensions and shifting tech sentiment. With uncertainty around geopolitical issues like the U.S.-Iran war and growing whispers of an AI bubble, risk appetite has taken a hit. Today, its story has evolved beyond devices. The company’s growing services business has become a quiet force, anchored by more than a billion paid subscriptions. High-margin offerings like iCloud, Apple Music, and the App Store now form a steady backbone, helping Apple navigate global uncertainty while deepening user loyalty. Apple, the $3.7 trillion technology giant born in Cupertino, California, has spent decades reshaping how the world works, creates, and connects. From the iPhone that redefined mobility to the Mac and iPad that blurred the line between work and creativity, Apple built its reputation on products that feel personal yet powerful. Sure, it’s a solid upgrade, but is it enough to really move the needle for Apple’s stock story, especially when AAPL is already in the red in 2026? But zooming out a bit, this launch is about more than just headphones. Apple is up against strong rivals like Sony Group (SONY) and Bose Corporation, all fighting for the same high-end customer. At $549, Apple clearly is not trying to play the budget game. Instead, it is leaning deeper into the premium space, packing in its H2 chip, better noise cancellation, improved mic quality, and a bunch of artificial intelligence (AI)-driven features like Live Translation and Adaptive Audio. It is the kind of upgrade that feels smooth and polished. In other words, very on brand for Apple. Now, after years of silence in its premium headphone lineup, Apple is back with a fresh update that’s already catching the market’s attention. The company has unveiled the AirPods Max 2, its first major refresh since 2020, giving AAPL stock a slight lift...
Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Alphabet’s modelled fair value sits at about US$376.95, essentially unchanged from the prior US$376.86, signaling only a very small adjustment to the price target in the latest update. That minor shift comes as research skews toward optimism around Alphabet’s AI footing, cloud momentu...
Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Alphabet’s modelled fair value sits at about US$376.95, essentially unchanged from the prior US$376.86, signaling only a very small adjustment to the price target in the latest update. That minor shift comes as research skews toward optimism around Alphabet’s AI footing, cloud momentum, and new Gemini partnerships, while still flagging questions on valuation and execution risk. As you read on, you will see how these competing points are shaping the current analyst narrative and what to watch as it evolves. Stay updated as the Fair Value for Alphabet shifts by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Alphabet. What Wall Street Has Been Saying 🐂 Bullish Takeaways Several firms, including Wells Fargo, BofA, Wolfe Research, Scotiabank, Canaccord, TD Cowen and others, have lifted Alphabet price targets into a US$350 to US$415 range, pointing to confidence in the company’s AI footing, cloud position and broader monetization potential. Wells Fargo highlights Alphabet’s capacity build out, with Project Google expected to take compute capacity to 35GW by 2028 from 15GW at the end of 2025, and describes capacity as a key edge relative to hyperscaler peers. Cantor Fitzgerald and Scotiabank describe Alphabet as well positioned across several layers of the AI tech stack, with long running investments and distribution viewed as supporting competitive moats and potential AI driven products for both consumers and enterprises. Multiple research houses cite Gemini traction, including adoption in Apple’s Apple Intelligence plans and Walmart’s Gemini integration, as tangible proof points that large partners are choosing Alphabet models and cloud as part of their AI roadmaps. TD Cowen’s ad buyer work points to Google Search scoring highly on return on investment and measurement, which analysts see as supp...
Ray Geiger The regulatory pressure on prediction market platforms was ratcheted up on Tuesday after Arizona's attorney general filed criminal charges against Kalshi ( KALSHI ) on Tuesday. Arizona Attorney General Kris Mayes charged Kalshi (KASLHI) with 20 counts, including charges for operating an illegal gambling business and providing election wagering. "Kalshi may brand itself as a 'prediction ...
Ray Geiger The regulatory pressure on prediction market platforms was ratcheted up on Tuesday after Arizona's attorney general filed criminal charges against Kalshi ( KALSHI ) on Tuesday. Arizona Attorney General Kris Mayes charged Kalshi (KASLHI) with 20 counts, including charges for operating an illegal gambling business and providing election wagering. "Kalshi may brand itself as a 'prediction market,' but what it's actually doing is running an illegal gambling operation and taking bets on Arizona elections, both of which violate Arizona law," stated Maye. The dispute includes Kalshi's ( KALSHI ) federal lawsuit seeking to block Arizona from enforcing state anti‑gambling laws against its CFTC‑regulated sports event contracts, with Kalshi ( KALSHI ) asking for declaratory and injunctive relief so it can continue offering those contracts without being treated as an unlicensed gambling operator. The company argues that its exchange is a federally regulated designated contract market and that Arizona’s threatened criminal penalties are preempted by federal commodities law, while Arizona regulators continue to maintain that Kalshi's ( KALSHI ) event contracts are simply illegal gambling under state law. Several other U.S. states have also taken notable actions against Kalshi ( KALSHI ), generally by treating its event contracts as unlicensed sports betting and demanding that it stop serving in‑state customers. Notably, Nevada's Gaming Control Board sent a March 4 letter ordering Kalshi ( KALSHI ) to cease offering event‑based contracts on elections and sports as an unlicensed sports pool, which prompted the company to sue in federal court in Las Vegas for a declaration that CFTC oversight preempts Nevada’s jurisdiction over those contracts. In addition, Massachusetts went on offense by filing suit in state court, leading to a Suffolk County Superior Court judge issuing a preliminary injunction holding that Kalshi's ( KALSHI ) sports event contracts are subject to Mass...
By Matt Tracy WASHINGTON, March 17 (Reuters) - Analysts anticipate a higher supply of debt being raised by the Big Five hyperscaler companies this year as they race to build out their data center infrastructure, following Amazon's near-record bond sale last week of roughly $54 billion in investment-grade bonds. Hyperscalers, which operate vast data centers and other infrastructure to facilitate ...
By Matt Tracy WASHINGTON, March 17 (Reuters) - Analysts anticipate a higher supply of debt being raised by the Big Five hyperscaler companies this year as they race to build out their data center infrastructure, following Amazon's near-record bond sale last week of roughly $54 billion in investment-grade bonds. Hyperscalers, which operate vast data centers and other infrastructure to facilitate AI training and deployment, have been raising debt to finance data centers needed to fuel the boom in AI. "There continues to be an expectation of a lot of capital to be raised in this sector," said John Servidea, co-head of investment-grade debt capital markets at JPMorgan, which led the Amazon deal. "Whether it's the companies' publicly stated capex budgets, or whether it's various banks' estimates of the amount of hyperscaler issuance, if you look at all of those, a realistic expectation would be that at some point there's more," Servidea added. Analysts at BofA Global Research on Friday raised their forecast for the hyperscalers' new debt in 2026 to $175 billion from $140 billion. In early February, Barclays analysts said that U.S. investment-grade corporate bond issuance could be greater than $2 trillion in 2026, which they said "would exceed even the post‑COVID record levels seen in 2020." The five major AI hyperscalers - Amazon, Alphabet's Google, Meta, Microsoft and Oracle - issued $121 billion in U.S. corporate bonds last year, versus an average $28 billion per year between 2020 and 2024, according to a January report by BofA Securities. Microsoft and Oracle declined to comment, while the other companies did not immediately respond to requests for comment. Hyperscalers made up four of the five biggest U.S. high-grade bond deals in 2025, according to a December report by MUFG analysts. Most of those took place in the second half of the year. Oracle sold $18 billion in bonds in September. This was followed in October by Meta's $30 billion deal and November de...
Love Employee/iStock via Getty Images Today, I am putting CytomX Therapeutics, Inc. ( CTMX ) in the spotlight. The stock jumped by nearly 45% on Monday after posting Q4 results before the bell. Management also launched a large secondary offering to raise additional funding after the bell on Monday. A post-earnings/pipeline update assessment follows below. CTMX Stock Chart (Seeking Alpha) Company O...
Love Employee/iStock via Getty Images Today, I am putting CytomX Therapeutics, Inc. ( CTMX ) in the spotlight. The stock jumped by nearly 45% on Monday after posting Q4 results before the bell. Management also launched a large secondary offering to raise additional funding after the bell on Monday. A post-earnings/pipeline update assessment follows below. CTMX Stock Chart (Seeking Alpha) Company Overview CytomX Therapeutics is headquartered in San Francisco. The company's approach to development is designed to take advantage of high levels of protease activity in the tumor microenvironment with the goal of turning a tumor against itself while having little impact on the surrounding healthy tissue. With yesterday's rally, the stock trades for around $5.80 a share with an approximate market cap of $1.14 billion. January 2026 Company Presentation CytomX's primary pipeline candidate is an EpCAM-targeting PROBODY antibody drug conjugate for varsetatug masetecan, also known as Varseta-M or Varseta. Management believes Varseta-M could be a first-in-class ADC for colorectal cancer, or CRC. Nearly two million individuals across the globe are affected with CRC. 5-year survival in patients with metastatic CRC is only approximately one in eight, a dismal mark. Leadership hopes to eventually develop Varseta-M for other cancers with solid tumors and has a couple of efforts in Phase 1 development. January 2026 Company Presentation In addition, some earlier-stage candidates in preclinical development are not germane to this analysis. Another candidate, CX-801, is being developed to treat advanced melanoma. Phase 1 data from a study evaluating it as a part of a combination therapy with blockbuster Keytruda should be out near the end of this year. Fourth Quarter Results CytomX Therapeutics posted its fourth-quarter numbers on March 16. The company delivered a GAAP loss of 15 cents a share, which was below expectations. However, the earnings number is not that critical right now to an...
Mastercard said it will acquire the stablecoin infrastructure startup BVNK for as much as $1.8 billion. It's the latest example of a traditional payment network positioning to remain competitive as emerging technologies become more prominent. Diksha Gera, Bloomberg Senior Analyst, and Bloomberg Reporter Paige Smith joins Scarlet Fu and Tim Stenovec on "Bloomberg Crypto." (Source: Bloomberg)
Mastercard said it will acquire the stablecoin infrastructure startup BVNK for as much as $1.8 billion. It's the latest example of a traditional payment network positioning to remain competitive as emerging technologies become more prominent. Diksha Gera, Bloomberg Senior Analyst, and Bloomberg Reporter Paige Smith joins Scarlet Fu and Tim Stenovec on "Bloomberg Crypto." (Source: Bloomberg)
The Vanguard Total Stock Market ETF (VTI +0.36%) and the iShares Core S&P Total U.S. Stock Market ETF (ITOT +0.37%) both aim to capture the full U.S. equity market, spanning large-, mid-, and small-cap stocks with broad sector exposure. This comparison looks at cost, performance, portfolio makeup, and practical differences to help investors decide which may better suit a total-market approach. Sna...
The Vanguard Total Stock Market ETF (VTI +0.36%) and the iShares Core S&P Total U.S. Stock Market ETF (ITOT +0.37%) both aim to capture the full U.S. equity market, spanning large-, mid-, and small-cap stocks with broad sector exposure. This comparison looks at cost, performance, portfolio makeup, and practical differences to help investors decide which may better suit a total-market approach. Snapshot (cost & size) Metric VTI ITOT Issuer Vanguard iShares Expense ratio 0.03% 0.03% 1-yr return (as of March 17, 2026) 20.39% 20.26% Dividend yield 1.11% 1.10% AUM $2.1 trillion $80.7 billion Beta (5Y monthly) 1.04 1.04 VTI and ITOT are equally affordable, each charging a 0.03% expense ratio. They also post a nearly identical dividend yield, so neither offers a meaningful cost or payout advantage. Performance & risk comparison Metric VTI ITOT Max drawdown (5 y) -25.37% -25.35% Growth of $1,000 over 5 years $1,700 $1,698 What's inside ITOT tracks the S&P Total Market Index, covering 2,482 stocks and providing exposure to technology (31%), financial services (12%), and consumer cyclical (10%) sectors. Its largest holdings are Nvidia, Apple, and Microsoft. The fund has been in existence for over 22 years and does not employ any leverage, currency hedging, or ESG screens. VTI, by comparison, is even broader, holding 3,503 stocks and offering similar sector weights — technology at 31%, financial services at 12%, and consumer cyclical at 10%. Its top positions match ITOT’s, though the exact weightings differ slightly. Both funds provide diversified access to the U.S. market without notable quirks or strategy overlays. For more guidance on ETF investing, check out the full guide at this link. What this means for investors VTI and ITOT are incredibly similar in most meaningful ways. They offer the same expense ratio and almost identical dividend yields, leading to no meaningful difference in fees or income. They also have the same beta and roughly the same max drawdown, meaning t...
US President Donald Trump said he wanted to have no wind turbines built during his presidency, reiterating his distaste for the renewable energy source after his administration has made multiple moves to thwart its development. “I’m proudly telling you that we’re going to try and have no windmills built in the United States during my” administration, Trump said in remarks from the Oval office on T...
US President Donald Trump said he wanted to have no wind turbines built during his presidency, reiterating his distaste for the renewable energy source after his administration has made multiple moves to thwart its development. “I’m proudly telling you that we’re going to try and have no windmills built in the United States during my” administration, Trump said in remarks from the Oval office on Tuesday. “They’re very bad environmentally.” The remarks came after the New York Times reported that the Trump administration is weighing a $1 billion deal with TotalEnergies SE, the French energy company spearheading two US offshore wind farms, to cancel leases in federal waters. A representative for Total declined to comment when contacted by Bloomberg News, and the Interior Department didn’t respond to a request for comment. Trump has long shown contempt for wind power, claiming without evidence that the farms cause cancer, and dismissing the turbines as overly expensive eye-sores. His campaign against offshore wind energy is part of wider efforts to roll back Biden-era climate policies and to champion fossil fuels. The administration’s efforts against the wind industry have included rescinding permits and halting construction for wind farms worth billions of dollars, including projects by companies such as Equinor ASA and Orsted A/S. US judges have overruled the administration’s efforts to block those offshore projects, rulings that the Trump administration has vowed to appeal. Trump’s latest comments have the potential to throw cold water on negotiations with Democrats to revive permitting reform, one of the White House’s top legislative priorities. Congressional negotiations over legislative plans to fast-track permitting for major energy and other infrastructure projects stalled after Democrats bawked at the Trump administration’s moves to halt already permitted projects, including solar and wind farms. But recently, key Democratic negotiators said they would come bac...
The government is to put the BBC’s charter on a permanent footing for the first time, after the corporation said the change was needed to protect it from political interference. In a significant change to the governance of the BBC, the culture secretary, Lisa Nandy, said she wanted to grant the corporation’s demand for a permanent charter. She said she wanted to protect it from repeated “culture w...
The government is to put the BBC’s charter on a permanent footing for the first time, after the corporation said the change was needed to protect it from political interference. In a significant change to the governance of the BBC, the culture secretary, Lisa Nandy, said she wanted to grant the corporation’s demand for a permanent charter. She said she wanted to protect it from repeated “culture war” attacks. BBC executives had argued that the current system in which the broadcaster’s charter had to be renewed every 10 years created a rolling existential threat. That threat has become more acute with the rise of Reform UK, an arch critic of the BBC that has vowed to end the licence fee. Speaking at the Society of Editors conference in London, Nandy said the BBC was “one of the two most important institutions in our country”, alongside the NHS. “While the terms, the structures and the funding for the BBC will continue to be negotiated every several years, we should seek to end the bizarre situation where if the charter isn’t agreed in time, the BBC ceases to exist,” Nandy said. “The truth is we would not accept this for the NHS and we should not accept it for the BBC. This is about protecting the BBC – and everything that it represents – for the long term for all of us. “We will act to future-proof this vital institution in these stormy times when public debate feels more toxic and polarised than ever and too often the BBC becomes a lightning rod for the ongoing, exhausting culture wars.” It marks a significant win for the BBC and the outgoing director general, Tim Davie, who had been arguing for the change. The BBC called for a permanent charter as part of its first official response to the government talks on the renewal of its current charter, which expires at the end of 2027. The BBC also demanded the end of political appointments to its board, which Nandy did not comment on. Nandy also said she wanted the BBC to face greater accountability, both from licence fee...
July NY world sugar #11 (SBN25) Thursday closed up +0.37 (+2.16%), and August London ICE white sugar #5 (SWQ25) closed up +9.50 (+1.96%). Sugar prices Thursday settled moderately higher as a +3% rally in WTI crude oil (CLM25) sparked short covering in sugar futures. Higher crude prices benefit ethanol and could prompt the world's sugar mills to divert more cane crushing toward ethanol production r...
July NY world sugar #11 (SBN25) Thursday closed up +0.37 (+2.16%), and August London ICE white sugar #5 (SWQ25) closed up +9.50 (+1.96%). Sugar prices Thursday settled moderately higher as a +3% rally in WTI crude oil (CLM25) sparked short covering in sugar futures. Higher crude prices benefit ethanol and could prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies. Don’t Miss a Day: Last Friday, July NY sugar posted a 3-3/4 year nearest-futures low, and on Wednesday, London sugar fell to a 3-1/2 month low on the outlook for higher Brazil sugar production. Last Wednesday, Unica reported that Brazil Center-South sugar production for the first half of April rose +1.3% y/y to 731,000 MT. Last Wednesday's report from Unica is the first report for the 2025/26 season. Last Tuesday, Conab forecasted Brazil's 2025/26 Brazil sugar production would climb +4.0% y/y to 45.875 MMT. Signs of larger global sugar output are negative for prices. On Tuesday, the USDA's Foreign Agricultural Service (FAS) predicted that India's 2025/26 sugar production would rise +26% y/y to 35 MMT, citing favorable monsoon rains and increased sugar acreage. On April 23, the USDA's FAS predicted that Brazil's 2025/26 sugar production would climb +2.3% y/y to 44.7 MMT from 43.7 MMT in the previous season. The outlook for abundant rain in India that leads to a bumper sugar crop is undercutting sugar prices. On April 15, India's Ministry of Earth Sciences projected an above-normal monsoon this year, with total rainfall forecast to be 105% of the long-term average. India's monsoon season runs from June through September. Also, on the negative side, consultant Datagro on March 12 projected that 2025/26 Brazil Center-South sugar production would climb +6% y/y to 42.4 MMT. In addition, Green Pool Commodity Specialists on February 5 projected that the worldwide sugar market will shift to a surplus of +2.7 MMT in the 2025/26 crop year...