They may be pennies a packet, but the ubiquitous custard cream can be a revelation if you make them at home. But who has come up with the ideal bake? Prue Leith reckons the custard cream is “arguably Britain’s most iconic biscuit” – and, certainly, we’ve been dunking this fern-patterned treat in our tea for well over a century, with early advertisements for this “delicious biscuit” placing it, per...
They may be pennies a packet, but the ubiquitous custard cream can be a revelation if you make them at home. But who has come up with the ideal bake? Prue Leith reckons the custard cream is “arguably Britain’s most iconic biscuit” – and, certainly, we’ve been dunking this fern-patterned treat in our tea for well over a century, with early advertisements for this “delicious biscuit” placing it, perhaps aspirationally, in the “fancy” category. By 1920, Bermondsey baking behemoth Peek Frean could confidently declare the custard cream “far and away the most popular of all the cream sandwich biscuits”, a status only slightly dented by the time I was at school about seven decades later, when it sat just below its contemporary, the chocolate bourbon, in the playtime snack ratings. Despite my love of both custard and cookies, however, I’ve always found this particular custard-flavoured product a bit sugary and dull. As historian Lizzie Collingham explains in her magisterial book, The Biscuit: The History of a Very British Indulgence , it combines two early industrial foodstuffs, namely custard powder and machine-made biscuits, and though they may have been created in a factory, I think they’re much better made at home. Continue reading...
Extra funding to be approved by Fifa Council this week National FAs feared losing money at this summer’s finals Fifa has agreed in principle to increase World Cup 2026 prize money and participation fees, with details of the enhanced funding to be approved at a meeting of the Fifa Council in Vancouver this week. World football’s governing body has responded to concerns raised by several national as...
Extra funding to be approved by Fifa Council this week National FAs feared losing money at this summer’s finals Fifa has agreed in principle to increase World Cup 2026 prize money and participation fees, with details of the enhanced funding to be approved at a meeting of the Fifa Council in Vancouver this week. World football’s governing body has responded to concerns raised by several national associations – first reported by The Guardian in February the high costs of travel, operations and tax in the United States in particular this summer will result in them losing money, even if their side has a successful tournament and reaches the latter stages. Continue reading...
Experts fear losing ground to virus even as the end of the HIV epidemic is in sight, and say decline in infant testing is ‘particularly concerning’ The US government released likely the last report from Pepfar (President’s Emergency Plan for Aids Relief) earlier this month and the chief science officer announced his resignation days later as the US moves to a patchwork of individual partnerships w...
Experts fear losing ground to virus even as the end of the HIV epidemic is in sight, and say decline in infant testing is ‘particularly concerning’ The US government released likely the last report from Pepfar (President’s Emergency Plan for Aids Relief) earlier this month and the chief science officer announced his resignation days later as the US moves to a patchwork of individual partnerships with each country, potentially driven by resource extraction. While more leadership with other countries has long been the goal with global HIV efforts, experts fear the US is moving too quickly without being able to monitor its efforts as well as it has done with Pepfar for more than two decades. They fear losing ground to the virus even as the end of the HIV epidemic is in sight. Continue reading...
US defense secretary’s openly Christian nationalist church continues to have growing influence in the White House On 17 April, at a briefing on the Iran war, secretary of defense Pete Hegseth told reporters he had been “sitting in church with my family” the previous Sunday while the minister preached from Mark 3. Hegseth then recast a passage about the Pharisees watching Jesus “so that they might ...
US defense secretary’s openly Christian nationalist church continues to have growing influence in the White House On 17 April, at a briefing on the Iran war, secretary of defense Pete Hegseth told reporters he had been “sitting in church with my family” the previous Sunday while the minister preached from Mark 3. Hegseth then recast a passage about the Pharisees watching Jesus “so that they might accuse him” as a description of the US press corps, which has long been a target of his ire. “Our press is just like these Pharisees,” Hegseth said. He accused “the legacy Trump-hating press” of a “politically motivated animus” that blinded it to “the brilliance of our American warriors”. Continue reading...
In the face of a prolonged US energy blockade of Cuba, solar panels from China have come to the rescue and provided a model of independence from fossil fuels that is resonating globally amid what is being called the worst energy crisis in history. Within the 12 months through February, solar’s share of national power generation in Cuba increased from 6 per cent to more than 20 per cent, according ...
In the face of a prolonged US energy blockade of Cuba, solar panels from China have come to the rescue and provided a model of independence from fossil fuels that is resonating globally amid what is being called the worst energy crisis in history. Within the 12 months through February, solar’s share of national power generation in Cuba increased from 6 per cent to more than 20 per cent, according to Microgrid Media, a California-based publication that tracks global renewable energy capacity. “By...
Malavika Kaur Makol and Bhaskar Dutta discuss how frontier market assets are set to build on their rally in April, as demand picks up after the initial selloff due to the Iran war.
Malavika Kaur Makol and Bhaskar Dutta discuss how frontier market assets are set to build on their rally in April, as demand picks up after the initial selloff due to the Iran war.
Sunshine Seeds/iStock via Getty Images Yesterday, we covered what we believe to be one of the best current commodity-focused investments based on a limited view of oil price volatility. Our general perspective is that oil price volatility will continue so long as the Iran war continues, but once the Iran war concludes, oil production and transportation will recover to predicted levels. We expect o...
Sunshine Seeds/iStock via Getty Images Yesterday, we covered what we believe to be one of the best current commodity-focused investments based on a limited view of oil price volatility. Our general perspective is that oil price volatility will continue so long as the Iran war continues, but once the Iran war concludes, oil production and transportation will recover to predicted levels. We expect oil prices to fall back towards the $50-$60 range again, assuming that there is no wide-scale oil production infrastructure damage caused during the war. We use this as our worst-case expectation for oil prices throughout 2026. With this forecast, we are focused on commodity investments that will provide strong rewards to shareholders due to increased free cash flow from a limited period of oil price volatility. When we covered Canadian Natural Resources ( CNQ ), we highlighted the fact that their low breakeven point per barrel and structure that's clearly designed to reward shareholders from higher free cash flow mean that as long as the war persists, they will be able to provide excess cash flow-based rewards to shareholders. Today, I want to shift our focus from Canada back to the United States of America and look at an oil and gas producer within the United States that is structured similarly. Let's dive in! American Oil Producer With Eyes on Shareholder Returns EOG Resources ( EOG ) is an American-based oil and gas producer. We last covered EOG on March 19 . EOG Q4 Earnings Presentation While EOG is an American-based oil and gas producer, it does have oil and gas holdings within the Caribbean as well as the Middle East. However, the vast majority of their production comes from safe domestic production locations that are not exposed to any sort of military action or risk of military action. Furthermore, EOG is focused on having a low break-even point, similar to how we highlighted yesterday within Canadian Natural Resources ( CNQ ) that a low break-even point can mean th...
Pornpimone Audkamkong/iStock via Getty Images I've long admired Roper Technologies (NASDAQ: ROP ) and its business model. The company has operated as an M&A platform, rolling up tons of different primarily small- and mid-sized businesses over the years. Originally, Roper focused primarily on industrial markets. But, over time, it pivoted toward higher-margin software businesses while divesting mos...
Pornpimone Audkamkong/iStock via Getty Images I've long admired Roper Technologies (NASDAQ: ROP ) and its business model. The company has operated as an M&A platform, rolling up tons of different primarily small- and mid-sized businesses over the years. Originally, Roper focused primarily on industrial markets. But, over time, it pivoted toward higher-margin software businesses while divesting most of the legacy industrial holdings. This has turned into an incredible growth stock over the decades. To put a number on it, a $10,000 investment in ROP stock 30 years ago turned into as much as $550,000 in recent years: Data by YCharts However, Roper is now in one of its worst drawdowns to date. This leads to the question: Has Roper's compounding algorithm broken down, or is this a great buying opportunity in a proven long-term growth story? Let's take a look at the company's latest earnings and then examine the broader picture for Roper during this share price correction. Roper's Q1 Earnings Roper reported its Q1 earnings on Thursday. The results were not all that remarkable; shares initially traded up a couple of percent on the result but then slipped to close the week. In any case, earnings did little to move the stock, which has been stuck around the $350 level since March. More broadly, Roper shares have been in a major downtrend over the past year: Data by YCharts Neither bulls nor bears were particularly excited about Roper's Q1 results, and it's understandable why. Non-GAAP EPS of $5.16 beat expectations by 17 cents. That EPS result rose by 8% from the prior year's $4.78 figure. Meanwhile, revenues of $2.1 billion increased by 11.3% and topped expectations by $30 million. Operating income rose by 11%, and free cash flow increased by 12%. Fine enough numbers on the face of it, and in a different market environment, shares probably would have rallied on the results. That's especially true as the company raised full-year guidance, increasing its midpoint adjusted EPS...
More than three years after acquiring Twitter, Elon Musk says he’s nearing his long-stated goal of turning it into an “everything app” with a new financial services tool that he pledged to launch for the public this month. X Money, a banking and payments platform built inside the social network now known as X, is expected to make its early public access debut imminently, based on the timeframe off...
More than three years after acquiring Twitter, Elon Musk says he’s nearing his long-stated goal of turning it into an “everything app” with a new financial services tool that he pledged to launch for the public this month. X Money, a banking and payments platform built inside the social network now known as X, is expected to make its early public access debut imminently, based on the timeframe offered by Musk last month. Early users testing the service have touted competitive perks, including 3% cash back on eligible purchases and a 6% interest rate on cash savings — the latter of which is roughly 15 times the national average. Musk’s new product is also expected to offer free peer-to-peer transfers, a metal Visa debit card personalized with a user’s X handle, and an AI concierge built by Musk’s xAI startup that tracks spending and sorts through past transactions, according to reports from users with early access. Musk, who first rose to prominence in Silicon Valley by co-founding PayPal Holdings Inc. , sees payments as crucial to creating a so-called super app similar to social products that have flourished in China. WeChat, for example, lets users hail a ride, book a flight and pay off their credit card. As Musk told employees in February, “We want it to be such that, if you want to, you could live your life on the X app.” If it works, X Money would sit at the intersection of social media and finance in a way no American product has attempted at this scale. However, the super-app model has yet to take off in the US. Several key details about Musk’s payments project also remain unclear, including pricing, the full set of features and the date when it will be widely available. Musk is known for making bold promises and missing his own deadlines. In this case, he’s contending with regulatory headaches and delays: X Money still lacks payment licenses in several states including New York, where lawmakers have questioned whether the billionaire should be trusted with pe...
This is The Stepback , a weekly newsletter breaking down one essential story from the tech world. For more on Hollywood trends and streaming culture, follow Charles Pulliam-Moore . The Stepback arrives in our subscribers' inboxes on Sundays at 8AM ET. Opt in for The Stepback here . How it started Under David Zaslav's leadership, WBD got very into the practice of shelving its own nearly completed p...
This is The Stepback , a weekly newsletter breaking down one essential story from the tech world. For more on Hollywood trends and streaming culture, follow Charles Pulliam-Moore . The Stepback arrives in our subscribers' inboxes on Sundays at 8AM ET. Opt in for The Stepback here . How it started Under David Zaslav's leadership, WBD got very into the practice of shelving its own nearly completed projects in order to cash in on subsequent tax write-offs . To help deal with its looming debt and operating costs , the studio killed Adil El Arbi and Bilall Fallah's live-action Batgirl feature and the Scoob! Holiday Haunt movie from Michael Kurinsky … Read the full story at The Verge.
Investors are piling back into some of the riskiest markets, as demand for frontier assets picks up after an initial war-driven selloff. The MSCI Frontier Markets Index of equities is up about 10% in dollar terms in April, its best month since 2009, outpacing gains of roughly 9% in the S&P 500. In debt markets, Pakistan raised the size of its dollar-bond sale this month, while the Democratic Repub...
Investors are piling back into some of the riskiest markets, as demand for frontier assets picks up after an initial war-driven selloff. The MSCI Frontier Markets Index of equities is up about 10% in dollar terms in April, its best month since 2009, outpacing gains of roughly 9% in the S&P 500. In debt markets, Pakistan raised the size of its dollar-bond sale this month, while the Democratic Republic of Congo attracted bids worth four times the $1.25 billion it raised in its debut issuance. Money managers including PineBridge Investments, Pictet Asset Management and East Capital Group are adding exposure after trimming risk earlier in the conflict. They are buying bonds in oil exporters such as Kazakhstan, Angola and Ecuador, and equities in Vietnam, where returns are driven more by domestic factors. The move follows an initial selloff, when frontier assets fell alongside broader markets. With elevated energy prices fueling inflation risks and clouding the outlook for Federal Reserve rate cuts, some investors are turning to economies seen as less tied to global swings, even as liquidity risks persist and traders lack clarity on US-Iran peace talks. “Investors are showing the willingness to lend but also have a cash cushion that they’re willing to deploy at the right levels,” said Anders Faergemann , head of global sovereigns and economics at PineBridge in London. He has bought Egyptian bonds, betting that the country won’t raise interest rates. That appetite is already showing up in returns. The JPMorgan Next Generation Markets Index , which tracks the performance of debt issued by frontier nations, has risen about 5% this month. That compares with a return of just 0.1% by US Treasuries, as of Friday. Frontier stocks also escaped the worst of the war-driven swings, with the rolling 100-day volatility on MSCI’s gauge at 15%, compared with 23% for a similar gauge for emerging markets. Some asset managers are adding Vietnamese stocks, while demand for debt in nations i...
After a war-driven sell-off sent the S&P 500 (SNPINDEX: ^GSPC) cratering nearly 10% in March, the index has come roaring back in April. The rally has been driven by the usual suspects: Semiconductor and other artificial intelligence stocks more prevalent in the Nasdaq Composite (NASDAQINDEX: ^IXIC) , some of which were hardest hit in the first quarter. Investors buying the dip have been rewarded. ...
After a war-driven sell-off sent the S&P 500 (SNPINDEX: ^GSPC) cratering nearly 10% in March, the index has come roaring back in April. The rally has been driven by the usual suspects: Semiconductor and other artificial intelligence stocks more prevalent in the Nasdaq Composite (NASDAQINDEX: ^IXIC) , some of which were hardest hit in the first quarter. Investors buying the dip have been rewarded. But stock volatility remains high with ongoing negotiations and threats between the United States and Iran. With the S&P 500 recently trading at an all-time high, investors may be wondering if it's smart to simply wait for another downturn in stocks before buying again. Fortunately, the strong market rally in the first half of April provides a clear signal for what comes next. Image source: Getty Images. Continue reading
Exclusive: Investigation into campaigning materials for local polls in May challenges tactical voting claims Election leaflets are providing “grotesque” information about how to vote tactically in the May elections, using national polling data, “dodgy” bar charts and doorstep surveys to support claims about parties’ chances of winning. Leaflets distributed by local politicians across England are c...
Exclusive: Investigation into campaigning materials for local polls in May challenges tactical voting claims Election leaflets are providing “grotesque” information about how to vote tactically in the May elections, using national polling data, “dodgy” bar charts and doorstep surveys to support claims about parties’ chances of winning. Leaflets distributed by local politicians across England are claiming that either only their party can win, or another party “can’t win here” when “there is no good evidence to show that’s true”, a Full Fact investigation for the Guardian has revealed. Continue reading...
The first public trial in Syria of officials linked to the rule of former President Bashar al-Assad opened in Damascus on Sunday. Atef Najib, a former Syrian army brigadier general who was head of the Political Security Branch in southern Syria’s Daraa province under Assad, and who is also a cousin of the former president, appeared in the courtroom to face charges related to “crimes against the Sy...
The first public trial in Syria of officials linked to the rule of former President Bashar al-Assad opened in Damascus on Sunday. Atef Najib, a former Syrian army brigadier general who was head of the Political Security Branch in southern Syria’s Daraa province under Assad, and who is also a cousin of the former president, appeared in the courtroom to face charges related to “crimes against the Syrian people,” the state-run news agency SANA reported. Najib was in that position in 2011 when...
DronG/iStock via Getty Images In private, with my friends and family members, I like to joke that I am perfect. It certainly gets the eyeballs rolling. But if you are going to make an effort to invest on your own, the most important thing that you can do is to be objective about your own decisions. Embrace your mistakes and learn from them. Otherwise, you will lose a lot of money. A good example o...
DronG/iStock via Getty Images In private, with my friends and family members, I like to joke that I am perfect. It certainly gets the eyeballs rolling. But if you are going to make an effort to invest on your own, the most important thing that you can do is to be objective about your own decisions. Embrace your mistakes and learn from them. Otherwise, you will lose a lot of money. A good example of me taking stock and correcting a decision that was wrong can be seen by looking at my decision in November of last year to reaffirm JBT Marel Corporation ( JBTM ) as a ‘hold’ candidate. At that time, the company had been demonstrating strong growth on both the top and bottom lines. The firm was targeting significant cost savings as part of its merger that saw John Bean Technologies and Marel hf merge last year. But at the end of the day, I was not ready to upgrade it because of its valuation. The stock has since fallen about 8.5%, which is painful in comparison to the 3.8% increase that the S&P 500 saw. And right now, even with that drop, I wouldn't say that shares are cheap. What I would say, however, is that new data provided by management is pointing toward a very specific future for the business. And if management can achieve the targets that they are aiming for, the upside is strong enough to justify a bullish outlook. In light of this, I believe that upgrading the company from a ‘hold’ to a soft ‘buy,’ even though we have seen the stock price fall since my previous article about it, is the right move. The Picture Has Changed Author - SEC EDGAR Data In the chart above, you can see the financial performance achieved by JBT Marel Corporation for the final quarter of the 2025 fiscal year compared to the same time in 2024. Revenue for the company more than doubled, and net profits improved drastically. Cash flows were admittedly mixed. But I wouldn't say that the picture here was bad. The aforementioned combination of John Bean Technologies and Marel hf can explain the c...