A powerful blizzard has isolated New York City and hobbled transport networks, threatening to be among the worst on record. Major snowfall of as much as 30 inches is expected across the East Coast in some areas, the National Weather Service said. More than 5,300 flights in, out or within the US were scrapped at the start of the week, according to FlightAware as of 2 a.m. New York time. ABC News Re...
A powerful blizzard has isolated New York City and hobbled transport networks, threatening to be among the worst on record. Major snowfall of as much as 30 inches is expected across the East Coast in some areas, the National Weather Service said. More than 5,300 flights in, out or within the US were scrapped at the start of the week, according to FlightAware as of 2 a.m. New York time. ABC News Reporter Lionel Moise breaks down the situation on Bloomberg Television. (Source: Bloomberg)
Full details of government plans to be published this morning with reforms partly driven by move to contain soaring costs Richard Adams is the Guardian’s education editor. Here is the full quote from Luke Sibieta of the Institute for Fiscal Studies on the Send reform plans as announced overnight. (See 9.50am .) The government is proposing a major set of reforms, with more funding and support provi...
Full details of government plans to be published this morning with reforms partly driven by move to contain soaring costs Richard Adams is the Guardian’s education editor. Here is the full quote from Luke Sibieta of the Institute for Fiscal Studies on the Send reform plans as announced overnight. (See 9.50am .) The government is proposing a major set of reforms, with more funding and support provided upfront through mainstream schools– as already happens in Scotland and Wales. To enable this change, the government will provide about £1bn per year to mainstream schools and local authorities to deliver more support and specialist services. This is a reasonably significant change, considering that extra Send funding for mainstream schools and local authority support services currently totals about £5bn per year. The government will be hoping that more upfront support and early intervention saves them money by reducing the need for expensive support currently provided through education, health and careplans (EHCPs). Reform will be a long and complicated process. If mainstream schools are to play a bigger role, how can we be sure they make decisions in a consistent and fair way? A new funding system will be needed to ensure resources are targeted across schools to where they are needed. There will need to be a plan to upskill and expand the workforce to ensure mainstream schools can play an expanded role. The government will need to manage the transition carefully to ensure minimal disruption to existing support for pupils. More focus on outcomes will also be needed to improve quality. My father always used to say: “Nick has achieved just as much as you, Keir.” It was a pointed observation. Like so many working-class children of my generation, I was the first in my family to go to university. And for families like ours, there is deep pride in that. Inevitably, you get put on a pedestal. But my dad was right. I believed him then and I believe him just as strongly now. Bec...
Foxx calls Tourette syndrome activist John Davidson’s shouts at the film awards ceremony ‘unacceptable’, while Sinners’ production designer criticises Bafta’s ‘throwaway’ apology With N-word incident, Bafta have shot themselves in the foot The fallout over Tourette syndrome (TS) activist John Davidson’s outbursts at the Baftas on Sunday continued after Jamie Foxx and Wendell Pierce expressed their...
Foxx calls Tourette syndrome activist John Davidson’s shouts at the film awards ceremony ‘unacceptable’, while Sinners’ production designer criticises Bafta’s ‘throwaway’ apology With N-word incident, Bafta have shot themselves in the foot The fallout over Tourette syndrome (TS) activist John Davidson’s outbursts at the Baftas on Sunday continued after Jamie Foxx and Wendell Pierce expressed their dismay at the incident. Davidson attended the Baftas as I Swear , the film inspired by his life of dealing with hostility triggered by TS, was up for a number of awards. He was heard several times shouting during the ceremony, including using the N-word while actors Delroy Lindo and Michael B Jordan were on stage presenting the evening’s first prize. Continue reading...
A company once described as an "indefinite" holding by Warren Buffett, which has been continuously held since 1991, may soon be Berkshire's largest investment.
A company once described as an "indefinite" holding by Warren Buffett, which has been continuously held since 1991, may soon be Berkshire's largest investment.
LorenzoT81/iStock Editorial via Getty Images When I first covered the YieldMax Ultra Option Income Strategy ETF ( ULTY ), I was open to its strategy. I rated the fund a Buy in small allocations, viewing it as a potential yield enhancement tool to combine with lower-yielding, more stable investments and target a desirable income level. The thesis was that, while the strategy carried higher risk, th...
LorenzoT81/iStock Editorial via Getty Images When I first covered the YieldMax Ultra Option Income Strategy ETF ( ULTY ), I was open to its strategy. I rated the fund a Buy in small allocations, viewing it as a potential yield enhancement tool to combine with lower-yielding, more stable investments and target a desirable income level. The thesis was that, while the strategy carried higher risk, there was a reasonable expectation that the fund managers could extract sufficient premium to justify that risk and offer passive exposure to the "hottest" stocks at any given time. Since then, ULTY has gone through a strategy update where it will now attempt to stabilize its NAV better through the added flexibility of owning less volatile assets. Performance has been pretty good since the change, but none of ULTY's problems have actually been solved. NAV erosion continues to be a big issue, and an under-the-hood look at its trades will reveal that the fund generally has had difficulty supporting its distributions. Hence, I downgrade my rating on ULTY to a Sell. ULTY's Strategy Change For those unfamiliar with ULTY, the ETF is best described as YieldMax's hedge fund. It began as a pure covered call ETF that targeted assets with the highest implied volatility ("IV") levels to maximize yield and income. This strategy, however, quickly eroded the fund's NAV as its underlying assets had high IV for a reason. Premiums from these highly volatile assets are huge, but that's because they have just as much potential to draw down 50% in a month as they do to rise. And so, a new put collar option strategy was implemented, where protective puts (and put spreads) could help limit losses. This, combined with updated weekly payouts and the success of many cryptocurrency companies that dominated ULTY's portfolio at the time, led ULTY to experience significant success for a brief time. It was what led me to give my original Buy rating, and I discussed these changes more deeply here . As many ...
A new Dutch government took power on Monday, with 38-year-old centrist Rob Jetten sworn in as the country’s youngest-ever prime minister and the first openly gay one. Jetten pulled off a stunning election win in October, coming from behind to dethrone the far-right Freedom Party (PVV) led by firebrand politician Geert Wilders by a razor-thin margin. The snap election was called after the PVV withd...
A new Dutch government took power on Monday, with 38-year-old centrist Rob Jetten sworn in as the country’s youngest-ever prime minister and the first openly gay one. Jetten pulled off a stunning election win in October, coming from behind to dethrone the far-right Freedom Party (PVV) led by firebrand politician Geert Wilders by a razor-thin margin. The snap election was called after the PVV withdrew from the previous coalition, the Netherlands’ most right-wing government in recent history,...