Three-time Olympic medallist Katie Archibald retires from cycling - despite being previously chosen for Scotland's 2026 Commonwealth Games team - having "fallen in love" with her new career as a nurse.
Three-time Olympic medallist Katie Archibald retires from cycling - despite being previously chosen for Scotland's 2026 Commonwealth Games team - having "fallen in love" with her new career as a nurse.
On today's show, the ceasefire between the US and Iran reached a particularly precarious moment as President Donald Trump said the agreement was on “massive life support” after he rejected Tehran’s latest peace offer. The Middle East and trade are expected to top the agenda when President Trump and Chinese counterpart Xi Jinping meet Thursday morning in Beijing. The Kospi saw wild swings — sheddin...
On today's show, the ceasefire between the US and Iran reached a particularly precarious moment as President Donald Trump said the agreement was on “massive life support” after he rejected Tehran’s latest peace offer. The Middle East and trade are expected to top the agenda when President Trump and Chinese counterpart Xi Jinping meet Thursday morning in Beijing. The Kospi saw wild swings — shedding more than $300 billion in value over 97 minutes, and then paring losses — after a top South Korean official floated the idea of a “citizen dividend” using AI profits but later clarified it would be funded by excess profits. And Keir Starmer is facing growing pressure to step down as Britain’s prime minister after dozens of members of Parliament, including Cabinet allies, are said to have joined calls for Starmer to set out a timetable for his departure. Today's guest: Maria Ferraro, Siemens Energy, CFO. (Source: Bloomberg)
EQT AB raised its takeover offer for Intertek Group Plc as the private equity firm seeks to overcome repeated rejections from the UK product testing business. EQT’s latest proposal includes £60 ($81) a share in cash, a 59% premium to Intertek’s price on April 9, the day before its initial offer, the company said Tuesday in a statement . EQT will also include the 107.7 pence final dividend announce...
EQT AB raised its takeover offer for Intertek Group Plc as the private equity firm seeks to overcome repeated rejections from the UK product testing business. EQT’s latest proposal includes £60 ($81) a share in cash, a 59% premium to Intertek’s price on April 9, the day before its initial offer, the company said Tuesday in a statement . EQT will also include the 107.7 pence final dividend announced by Intertek in March. The previous offer was for £58 a share. Intertek’s board rejected that proposal last week, as well as two earlier bids from EQT.
Endurance specialist won Olympic gold in Rio and Tokyo ‘I don’t know where I’ll get these feelings again’ Katie Archibald, the Scottish track cyclist who won gold medals at the Rio and Tokyo Olympics , has announced her retirement with immediate effect. The decision means the 32-year-old, who also won multiple world, European and Commonwealth titles, will not compete in July’s Commonwealth Games i...
Endurance specialist won Olympic gold in Rio and Tokyo ‘I don’t know where I’ll get these feelings again’ Katie Archibald, the Scottish track cyclist who won gold medals at the Rio and Tokyo Olympics , has announced her retirement with immediate effect. The decision means the 32-year-old, who also won multiple world, European and Commonwealth titles, will not compete in July’s Commonwealth Games in Glasgow. Continue reading...
Dragos Condrea/iStock via Getty Images Dear Fellow Investors, The Partners Fund returned approximately 2% 1 net in the fourth quarter, bringing full-year returns to 14%. The criteria for selecting managers in the Partners Fund include: One-person investment committee Concentrated holdings Reasonable amounts of capital (AUM) Significant personal investments (“skin in the game”) Original thinking Mi...
Dragos Condrea/iStock via Getty Images Dear Fellow Investors, The Partners Fund returned approximately 2% 1 net in the fourth quarter, bringing full-year returns to 14%. The criteria for selecting managers in the Partners Fund include: One-person investment committee Concentrated holdings Reasonable amounts of capital (AUM) Significant personal investments (“skin in the game”) Original thinking Mindset: Getting rich is not the point None of these criteria point to heavy exposure to the “Magnificent 7”. In 2025, that mattered: our managers' focus on smaller, less-followed companies was a headwind as the largest technology companies continued to deliver 20%+ revenue growth, and investors paid higher prices for that growth, even as those businesses migrated from asset-light to capital-intensive businesses. Murray Stahl, CEO and portfolio manager at Horizon Kinetics, has written about “invisible companies.” As passive investing has grown, some businesses receive little attention for structural reasons—size, liquidity, listing venue, or index rules—rather than fundamentals. Entire categories such as royalty companies, exchanges, and smaller resource companies can be overlooked because of liquidity constraints, domicile rules, sector classification, or trading venue. Ironically, Stahl's own firm, Horizon Kinetics Holding Company ( HKHC ), is effectively an invisible company. It went public through a reverse merger whereby a private company merges with a pre-existing public company (not a traditional IPO), has zero analyst coverage, no investor presentation, and trades OTC (not on the Nasdaq or NYSE). HKHC is not in any major index. Unlike virtually every S&P 500 company where Vanguard and BlackRock show up as top 10 shareholders through their passive products, those firms do not own HKHC. Instead, HKHC’s management shows up as its largest holder. I want to highlight Horizon Kinetics because it is a large holding of Maran Capital, a fund that we are invested in. As Dan Rol...
Tyler Technologies ( TYL ) priced of an upsized private offering of $1.25B 0.50% convertible senior notes due 2031, from the initially announced $1B. The issuance and sale of the notes are scheduled to settle on May 14, 2026. The initial purchasers of the notes have an option to buy up to an additional $187.5M aggregate principal amount of notes. The company also said it expects to use a portion o...
Tyler Technologies ( TYL ) priced of an upsized private offering of $1.25B 0.50% convertible senior notes due 2031, from the initially announced $1B. The issuance and sale of the notes are scheduled to settle on May 14, 2026. The initial purchasers of the notes have an option to buy up to an additional $187.5M aggregate principal amount of notes. The company also said it expects to use a portion of the proceeds for concurrent share repurchases and to enhance financial flexibility. Tyler ( TYL ) expects net proceeds of about $1.22B to be used for capped call transactions, share repurchases worth about $320.7M, and general corporate purposes. More on Tyler Technologies Tyler Technologies: Can't Get Behind The Valuation Despite The Selloff Tyler Technologies: Encouraging Recovery In Bookings (Rating Upgrade) Tyler Technologies, Inc. (TYL) Q1 2026 Earnings Call Transcript Tyler Technologies plans $1B convertible senior notes offering due 2031 Tyler targets 80%+ of on-prem customers moved to the cloud by 2030 as For The Record adds ~$30M to 2026 revenue guide
UK government bonds fell as a growing number of Labour party politicians called on their leader Keir Starmer to step down following large losses in local elections last week. The yield on 10-year gilts rose as much as 10 basis points to 5.10% on Tuesday, as investors fret that a potential change in leadership could result in increased fiscal spending to win back disaffected voters. The pound was 0...
UK government bonds fell as a growing number of Labour party politicians called on their leader Keir Starmer to step down following large losses in local elections last week. The yield on 10-year gilts rose as much as 10 basis points to 5.10% on Tuesday, as investors fret that a potential change in leadership could result in increased fiscal spending to win back disaffected voters. The pound was 0.2% weaker against the euro, its lowest since late April. An historic election defeat last week for Starmer’s Labour Party deepened concerns about the prime minister’s unpopularity. That’s put bond investors on edge, given they view Starmer and his Chancellor of the Exchequer Rachel Reeves as being more committed to keeping bond issuance in check than their potential replacements. Read more: Schroders Stays Clear of UK Bonds, Citing Risk Starmer Is Ousted