Readers respond to the Guardian’s revelation that Peter Mandelson failed developed vetting for his US ambassador post The emerging account of Peter Mandelson’s appointment as US ambassador raises a question not of process, but of judgment ( Revealed: Mandelson failed vetting but Foreign Office overruled decision, 16 April ). The prime minister was warned repeatedly. Briefings in November and Decem...
Readers respond to the Guardian’s revelation that Peter Mandelson failed developed vetting for his US ambassador post The emerging account of Peter Mandelson’s appointment as US ambassador raises a question not of process, but of judgment ( Revealed: Mandelson failed vetting but Foreign Office overruled decision, 16 April ). The prime minister was warned repeatedly. Briefings in November and December 2024 flagged reputational risks , including well-documented associations and potential exposure if the appointment went wrong. Keir Starmer’s national security adviser raised concerns directly. Yet the appointment proceeded at pace. Security vetting did not introduce uncertainty; it confirmed it. Developed vetting, even when expedited, typically requires several weeks. Factoring in the Christmas slowdown, the effective assessment window was little more than a fortnight. A refusal reached on that timescale is unlikely to reflect marginal doubt; it suggests concerns identified early and clearly. Yet by 6 January, Mandelson was already operating with a security pass marked for developed vetting access. The system was behaving as if clearance were assured before the decision had been taken. Continue reading...
Readers react to the speech Simon Tisdall has suggested King Charles should make to Congress when he visits the US Thank you for Simon Tisdall’s well-crafted article incorporating an alternative draft speech for delivery by King Charles to the US Congress later this month ( Protocol be damned: here’s what King Charles should say on his visit to the US, 12 April ). While many readers would agree wi...
Readers react to the speech Simon Tisdall has suggested King Charles should make to Congress when he visits the US Thank you for Simon Tisdall’s well-crafted article incorporating an alternative draft speech for delivery by King Charles to the US Congress later this month ( Protocol be damned: here’s what King Charles should say on his visit to the US, 12 April ). While many readers would agree with the gist of Tisdall’s draft, I and many others would also welcome the inclusion of even sharper, targeted criticism of key individuals in the current US administration, including Donald Trump. Such direct confrontation appears to be the only tactic that gives Trump even the slightest pause for thought in relation to his most recent ludicrous statement or action. Continue reading...
Prof Kim Solga responds to an article by an A-level student who wonders how attitudes will change if students aren’t taught the reality of British colonial history Astrid Barltrop makes a powerful case for why the British history curriculum is long overdue for a proper reckoning with the reality of empire and its ongoing legacy ( How will attitudes change if students like me aren’t taught the trut...
Prof Kim Solga responds to an article by an A-level student who wonders how attitudes will change if students aren’t taught the reality of British colonial history Astrid Barltrop makes a powerful case for why the British history curriculum is long overdue for a proper reckoning with the reality of empire and its ongoing legacy ( How will attitudes change if students like me aren’t taught the truth about British colonial history?, 16 April ). As a Canadian arriving to teach drama at a Russell Group university in 2012, I was staggered at how little students knew of Indigenous people’s history and the contemporary struggle for reconciliation in former settler colonies such as Canada. Continue reading...
jetcityimage/iStock Editorial via Getty Images UnitedHealth Group ( UNH ) is set to report Q1 results before market opens Tuesday, with analysts expecting an 8% Y/Y decline in earnings on largely flat revenue. Wall Street expects EPS of $6.61 , down 8.2% year over year, on revenue of $109.66B, up 0.1%. Over the past two years, UNH has beaten EPS estimates 75% of the time and topped revenue expecta...
jetcityimage/iStock Editorial via Getty Images UnitedHealth Group ( UNH ) is set to report Q1 results before market opens Tuesday, with analysts expecting an 8% Y/Y decline in earnings on largely flat revenue. Wall Street expects EPS of $6.61 , down 8.2% year over year, on revenue of $109.66B, up 0.1%. Over the past two years, UNH has beaten EPS estimates 75% of the time and topped revenue expectations in 63% of quarters. However, sentiment has softened heading into the print. Over the last three months, analysts have cut estimates more often than raised them, with EPS seeing 10 downward revisions versus 8 upward, while revenue forecasts logged 10 downward revisions against just 2 upward. Investors will likely focus on medical cost trends, performance at Optum, membership growth, and management’s full-year outlook. Analysts and investors will also be tuned in to see hear how UnitedHealth will benefit from the announced 2.48% bump in average Medicare Advantage payments in 2027. The announcement earlier this month gave an immediate boost to UnitedHealth and other insurers' shares, but analysts remain on the fence over whether this can sustain a long-term rally amid persistent headwinds from medical cost inflation and elevated utilization. Seeking Alpha SA contributors were largely positive about the stock, with Mark Bern, CFA, viewing the recent pullback as a compelling long-term entry point. Oakoff Investments also sees recent CMS rate increases and Optum Health restructuring support as bullish for UnitedHealth’s outlook, with incremental revenue and operating profit potential not fully priced in. On the other hand, SA contributor Far Horizon maintains a Hold, citing ongoing margin pressure from rising medical costs outpacing reimbursement rates, as well as headwinds in the Optum segment, including regulatory scrutiny and margin compression. The stock, down about 2% YTD, carries a Buy rating from Wall Street, while Seeking Alpha’s Quant system remains cautious at Hol...
Trig points | Learning with Yes Minister | A swipe at government | Flyer failure | Public toilets Your report ( Campaigners seek listed status for historic trig points that mapped Britain, 16 April ) didn’t mention the Vanessa trig point – Vanessa being a corruption of the Venesta company, which made cardboard tubes into which the concrete for the pillars was poured. These were designed for less a...
Trig points | Learning with Yes Minister | A swipe at government | Flyer failure | Public toilets Your report ( Campaigners seek listed status for historic trig points that mapped Britain, 16 April ) didn’t mention the Vanessa trig point – Vanessa being a corruption of the Venesta company, which made cardboard tubes into which the concrete for the pillars was poured. These were designed for less accessible places, mostly in the Scottish Highlands and Islands. I was never less than half exhausted when I met one. Margaret Squires St Andrews, Fife • Who knew Yes Minister was a documentary ( Letters, 19 April )? My friend Graham Fortune did. He was a New Zealand public servant and diplomat. On their first day working for the public service, he would tell new recruits to watch the programme as an essential part of their training. Penelope Horner Whitchurch, Hampshire Continue reading...
British Prime Minister Keir Starmer acknowledged Monday that he made the wrong judgment when he appointed Jeffrey Epstein’s friend Peter Mandelson as UK ambassador to Washington but said he would not have done so if he had known Mandelson had failed security checks. Starmer faced a barrage of opposition calls to resign as he tried to explain why Mandelson was given the job despite failing security...
British Prime Minister Keir Starmer acknowledged Monday that he made the wrong judgment when he appointed Jeffrey Epstein’s friend Peter Mandelson as UK ambassador to Washington but said he would not have done so if he had known Mandelson had failed security checks. Starmer faced a barrage of opposition calls to resign as he tried to explain why Mandelson was given the job despite failing security vetting for the UK’s most important diplomatic post. Starmer brushed aside the demands, placing...
Last week, when news broke that QVC Group Inc. had filed for bankruptcy protection in an effort to shed $5 billion in debt, it might have been the first time you’d thought about televised home shopping in a while. The company, which operates both the QVC and HSN networks , feels in some ways like a relic of the near past—a time when average Americans didn’t carry a portal to unfathomable abundance...
Last week, when news broke that QVC Group Inc. had filed for bankruptcy protection in an effort to shed $5 billion in debt, it might have been the first time you’d thought about televised home shopping in a while. The company, which operates both the QVC and HSN networks , feels in some ways like a relic of the near past—a time when average Americans didn’t carry a portal to unfathomable abundance in their pocket at every waking moment. But now most US households have an Amazon Prime subscription and access to a near-endless array of product recommendations and reviews online. Who, exactly, still wants to buy from some lady on TV rapturously extolling the virtues of a rainbow rack of sporty separates? QVC has struggled mightily in recent years—with declining network viewership, stiff competition for its e-commerce operation, difficulty wooing younger shoppers to an old name—so it’s not quite right to describe it as a victim of its own success. What it might be, though, is a victim of its own insights. Decades before affiliate links and livestreaming platforms made all of us potential salespeople, home-shopping TV understood that a skilled messenger could sell almost anything to bored people alone on the couch. The products—kitchen gadgets, cosmetics, business-casual blouses—were largely beside the point. QVC might be in dire financial straits, but we’re all living in the consumer world that its networks built. Enterprising hucksters had been tinkering with ways to scale up the personal, in-home sales pitch since the Industrial Revolution made the first forms of modern mass media possible. But it took the proliferation of television sets to really get things humming. TV shopping burst to prominence in 1985 with the national launch of what would later be called the Home Shopping Network. QVC joined the following year. The networks’ live sales sessions and call-in ordering gave customers a sense that they had a personal relationship with their favorite peddlers, with w...
Sandwish/iStock via Getty Images Investment Thesis I reiterate my buy recommendation on assets that track the main American indices. This article is part of a weekly series starting on November 7, 2024, where I bring valuable insights to SA readers. Amid contradictory news regarding the War in Iran, my intention in this article is to show the size of the opportunity generated by the situation. Con...
Sandwish/iStock via Getty Images Investment Thesis I reiterate my buy recommendation on assets that track the main American indices. This article is part of a weekly series starting on November 7, 2024, where I bring valuable insights to SA readers. Amid contradictory news regarding the War in Iran, my intention in this article is to show the size of the opportunity generated by the situation. Context Incredible as it may seem, the S&P 500 has already recovered from the drop after the War in Iran. Since the start of the War on February 28th until last Friday, the S&P 500 has already risen more than 3.5%, throwing cold water on alarmist analysts and skeptical investors. I already expected such behavior, but not with such force. Price (SA) The last week was the third in a row in which the S&P 500 rose above 3%. This performance only occurred in June 2020 in the recovery after the fall of C-19 and also in September 1982 and September 1940. Consecutive Weekly Gains Over 3% (Zero Hedge and Bloomberg) The turnaround in the rally was the 2nd fastest in history since 1950 and was only second to 1982, when the FED was under the command of Paul Volcker. S&P 500 Fast Paced From Weakness to Strength Rallies (Bloomberg) The data shows how strong the market is, but as I said, I already expected this behavior. Financial market specialists have analyzed the performance of the S&P 500 following major geopolitical events since the Korean War in 1953. The result is an average increase of 14.2% after 12 months. Of course you can argue that it is not possible to compare the current economy with the economy at the time of other geopolitical events, but I have solid arguments to believe that a similar performance will occur again. S&P 500 After Major Geopolitical Events (Procap) Bullish Arguments The next earnings season for the S&P 500 is full of expectations. The market has not expected profits to grow above 15% year on year for a long time, and as we know, companies have beaten market ...
PM sets out his side of events relating to appointment and security vetting in address to parliament UK politics live – latest updates Keir Starmer has ordered an investigation into any security concerns relating to Peter Mandelson’s tenure as UK ambassador to the US as he gave his side of events in a politically crucial statement in parliament. “I know many members across the house will find thes...
PM sets out his side of events relating to appointment and security vetting in address to parliament UK politics live – latest updates Keir Starmer has ordered an investigation into any security concerns relating to Peter Mandelson’s tenure as UK ambassador to the US as he gave his side of events in a politically crucial statement in parliament. “I know many members across the house will find these facts to be incredible,” Starmer told jeering MPs, after setting out how the Foreign Office opted to overrule the initial decision to refuse Mandelson’s security vetting without informing him and other ministers. Continue reading...
J Studios/DigitalVision via Getty Images Topline Summary and Update When I last took a look at Kura Oncology, Inc. ( KURA ) in March 2025, I had pretty substantial optimism for the company's launch for the approval and initial launch of ziftomenib, the second inhibitor of a protein called menin that is useful in selected populations of patients with acute myeloid leukemia (AML). Since that sanguin...
J Studios/DigitalVision via Getty Images Topline Summary and Update When I last took a look at Kura Oncology, Inc. ( KURA ) in March 2025, I had pretty substantial optimism for the company's launch for the approval and initial launch of ziftomenib, the second inhibitor of a protein called menin that is useful in selected populations of patients with acute myeloid leukemia (AML). Since that sanguine forecast, KURA has risen around 30% overall after experiencing a post-approval rise and then decline into the end of the year. Today, I want to review what we've learned so far about the initial launch of ziftomenib, as well as make the case for excitement heading into maturity of trials studying combinations, despite the looming challenges associated with a crowded field of real and potential competitors. Pipeline Updates Ziftomenib KURA's flagship molecule is the menin inhibitor ziftomenib, which is approved for the management of previously treated AML in patients who have a mutation in the NPM1 gene. This aberration is found in approximately 30% of patients, making it one of the most common biomarkers found in the disease. This approval came weeks after that for Syndax's revumenib in October . Revumenib was previously also approved for patients with the much less-common KMT2A translocation. Both ziftomenib and revumenib are offered as single agents in the relapsed/refractory setting. This approval was based on findings from the KOMET-001 study, which demonstrated a complete response rate of 23% in the phase 2 portion, with a median duration of overall response of just 4.6 months. One slight advantage that ziftomenib has over revumenib in terms of toxicity is that dose adjustments are not recommended on the label for patients who are receiving strong CYP3A4 inhibitors (eg, antifungal agents, certain antibiotics, certain antidepressants), which may influence decision making in the setting of polypharmacy. Both revumenib and ziftomenib have had a bit of a "coming to earth...
Half of UK executives now think AI will mean fewer jobs over the next decade — with young workers expected to be hardest hit. Irina Anghel explains. (Source: Bloomberg)
Half of UK executives now think AI will mean fewer jobs over the next decade — with young workers expected to be hardest hit. Irina Anghel explains. (Source: Bloomberg)
DNY59/E+ via Getty Images Thesis Summary Over the last 10 days, stocks have staged an absolutely historic rally. With encouraging news that the war may be over, oil coming off the highs, and AI stocks continuing to deliver, it seems like sentiment has shifted quickly. I recently talked about the key market forces that were helping markets rally. Things like options, positioning, and liquidity tail...
DNY59/E+ via Getty Images Thesis Summary Over the last 10 days, stocks have staged an absolutely historic rally. With encouraging news that the war may be over, oil coming off the highs, and AI stocks continuing to deliver, it seems like sentiment has shifted quickly. I recently talked about the key market forces that were helping markets rally. Things like options, positioning, and liquidity tailwinds. This creates a reflexive scenario, where higher prices force market participants to chase and create a reflexive loop. But reflexivity works both ways. If the narrative begins to shift, then a historic rally could be followed by a historic sell-off. Renewed stress in Hormuz, an AI slowdown, stubborn inflation, and political instability are all possible triggers that could force a reflexive loop, only this time to the downside. Is Hormuz Really Open? If you believe some of the headlines from last week, then you’d be inclined to think the Strait of Hormuz is a non-issue. But at the very least, there are some mixed opinions. As I write this, Iran has said it has no intentions to continue talks with the U.S. following an embargo of an Iranian ship. Moreover, it seems like Iran is ready to retaliate. I maintain what I said in a previous article. I think oil may have stopped, or at least it won't go much higher from here. But if we keep at over $100 levels for the next few months, this is going to become a very real drag on the economy. The market seems highly complacent here, and this gives us a clear downside set-up. AI Slowdown If geopolitics is the obvious risk, AI is a more subtle one that we can’t overlook. AI has become the backbone of this market rally and the economy. It’s the spending from hyperscalers that is really helping maintain high corporate earnings, paired with AI efficiencies. This is all well and good until it isn't. It doesn’t need to collapse in order for sentiment to shift. A delay in deployments, a moderation in capex growth, or weaker-than-expecte...