Korean stocks recorded their worst two-day drop since the 2008 financial crisis as the Iran conflict weighed on investor sentiment across the region. That's dragged down the Asian equity benchmark to its third day of losses. Bloomberg MLIV Strategist Mark Cranfield discusses the market moves on The China Show. (Source: Bloomberg)
Korean stocks recorded their worst two-day drop since the 2008 financial crisis as the Iran conflict weighed on investor sentiment across the region. That's dragged down the Asian equity benchmark to its third day of losses. Bloomberg MLIV Strategist Mark Cranfield discusses the market moves on The China Show. (Source: Bloomberg)
Earnings Call Insights: Accel Entertainment (ACEL) Q4 2025 Management View Andrew Rubenstein, Co-Founder, President, CEO & Chairman, reported "Accel delivered a strong finish to 2025. We closed the year with record financial results, continued operating momentum, new growth opportunities, and an enhanced balance sheet." He highlighted a 7.5% year-over-year revenue increase to $341 million and a 19...
Earnings Call Insights: Accel Entertainment (ACEL) Q4 2025 Management View Andrew Rubenstein, Co-Founder, President, CEO & Chairman, reported "Accel delivered a strong finish to 2025. We closed the year with record financial results, continued operating momentum, new growth opportunities, and an enhanced balance sheet." He highlighted a 7.5% year-over-year revenue increase to $341 million and a 19% rise in adjusted EBITDA to $56 million for the quarter, both all-time highs. Rubenstein emphasized the company's expanding footprint, supporting over 4,500 locations and nearly 28,000 gaming machines nationwide. Rubenstein expressed optimism about the Chicago video gaming terminal (VGT) market, stating, "the city estimates 2,500 new locations in Chicago over the long term. We view this as a highly attractive opportunity that would enable Accel to further leverage its fixed cost structure and generate incremental returns at compelling margins." He also cited progress in Nevada, Louisiana, Nebraska, and Georgia as supporting ongoing expansion and profitability. Rubenstein announced a leadership transition: "I've stepped into the chairman role effective immediately, and in August, I'll transition out of the CEO role as Mark takes over day-to-day leadership of the company." Mark Phelan, COO & President U.S. Gaming, explained continued focus on optimizing Illinois operations, redeploying underperforming assets, and rolling out Ticket-In, Ticket-Out (TITO) technology, which has reached 81% of Accel locations. In Nevada, Phelan noted the acquisition of Dynasty Games and a new route partnership with Rebel Convenience Stores, which added significant locations and machines to the network. Brett Summerer, Chief Financial Officer, stated, "for the fourth quarter, total revenue increased 7.5% year-over-year to $341 million, the highest fourth quarter revenue in the company's history... Adjusted EBITDA increased 19% year-over-year to a record $56 million." Outlook Management reported a...
Key Points Atlassian was swept up in the broader sell-off in software stocks last month. The company beat estimates in its Q2 report, but slowing growth and a GAAP loss weighed on the stock. Atlassian spent close to 40% of its revenue on share-based compensation in the quarter. 10 stocks we like better than Atlassian › Shares of Atlassian (NASDAQ: TEAM) continued to bear the brunt of the software ...
Key Points Atlassian was swept up in the broader sell-off in software stocks last month. The company beat estimates in its Q2 report, but slowing growth and a GAAP loss weighed on the stock. Atlassian spent close to 40% of its revenue on share-based compensation in the quarter. 10 stocks we like better than Atlassian › Shares of Atlassian (NASDAQ: TEAM) continued to bear the brunt of the software sell-off last month as the collaboration-based software company disappointed the market with its fourth-quarter earnings report and fell alongside its software-as-a-service (SaaS) peers. Investors are worried that new AI tools will disrupt companies like Atlassian by offering easier, customizable solutions for things like kanban boards, a Jira tool that is one of its most popular products. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Atlassian sells to mostly small and medium-sized businesses, which also makes it more vulnerable to new competition. Atlassian finished the month down 36%, according to data from S&P Global Market Intelligence, continuing a long downward trend. As the chart below shows, the stock fell steadily throughout the month, only to recover modestly late in February. Atlassian's troubles continue Like most other SaaS stocks, Atlassian fell sharply last month as valuations compressed and fears about AI disruption led to a panic. Atlassian may be more vulnerable, however, given its focus on small and medium-sized businesses and its lack of generally accepted accounting principles (GAAP) profits. The biggest news out on Atlassian last month was its second-quarter earnings report. Even though the company beat estimates, the stock still fell. Revenue in the quarter rose 23% to $1.59 billion, which beat estimates at $1.54 billion. Adjusted earnings per share increased from $0.96 to $1.22,...
This interactive model has a limit on the number of drivers that can be modified in a single scenario. When the limit is reached those drivers not yet modified become disabled for modification. Your options are: Create new scenarios to try different combinations of driver modifications Reset one of your driver modifications in this scenario in order to modify another driver
This interactive model has a limit on the number of drivers that can be modified in a single scenario. When the limit is reached those drivers not yet modified become disabled for modification. Your options are: Create new scenarios to try different combinations of driver modifications Reset one of your driver modifications in this scenario in order to modify another driver
Communiqué de presse 04 mars 2026 - N° 04 Résultats du quatrième trimestre 2025 Résultat net de EUR 208 millions au quatrième trimestre 2025, contribuant à un excellent résultat net annuel de EUR 851 millions Proposition d’un dividende courant de EUR 1,9 par action Résultat net du Groupe de EUR 208 millions au T4 2025 porté par toutes les lignes de métier (EUR 214 millions ajusté 1 ) Ratio combiné...
Communiqué de presse 04 mars 2026 - N° 04 Résultats du quatrième trimestre 2025 Résultat net de EUR 208 millions au quatrième trimestre 2025, contribuant à un excellent résultat net annuel de EUR 851 millions Proposition d’un dividende courant de EUR 1,9 par action Résultat net du Groupe de EUR 208 millions au T4 2025 porté par toutes les lignes de métier (EUR 214 millions ajusté 1 ) Ratio combiné P&C de 80,9 %, avec une excellente sinistralité attritionnelle, permettant l’accroissement de la prudence Résultat des activités d’assurance L&H 2 de EUR 115 millions, avec un écart d’expérience au cours de l’année 2025, conforme aux prévisions Taux de rendement courant des investissements de 3,8 %, avec des taux de réinvestissement toujours attractifs de EUR 208 millions au T4 2025 porté par toutes les lignes de métier (EUR 214 millions ajusté ) Rendement annualisé des capitaux propres de 20,4 % (21,1 % ajusté 1 ) au T4 2025, conduisant à un rendement des capitaux propres (ROE) de 19,2 % (19,1 % ajusté 1 ) pour l’exercice 2025 20,4 % (21,1 % ajusté ) au T4 2025, conduisant à un rendement des capitaux propres (ROE) de 19,2 % (19,1 % ajusté ) pour l’exercice 2025 Valeur économique du Groupe 3 mesurée selon la norme IFRS 17 de EUR 8,5 milliards au 31 décembre 2025, en hausse de 13,7 % 4 à hypothèses économiques constantes 5 (en baisse de 1,1 % en données publiées) par rapport au 31 décembre 2024, correspondant à une valeur économique par action de EUR 48 mesurée selon la norme IFRS 17 de EUR 8,5 milliards au 31 décembre 2025, en hausse de 13,7 % à hypothèses économiques constantes (en baisse de 1,1 % en données publiées) par rapport au 31 décembre 2024, correspondant à une Ratio de solvabilité du Groupe de 215 % 6 au 31 décembre 2025, dans la partie haute de la plage de solvabilité optimale de 185 %-220 % de 215 % au 31 décembre 2025, dans la partie haute de la plage de solvabilité optimale de 185 %-220 % Proposition d’un dividende courant de EUR 1,9 par action au titre de l...
Press release 4 March 2026 - N° 04 Fourth quarter 2025 results EUR 208 million net income in Q4 2025, contributing to a strong full year net income of EUR 851 million Proposed regular dividend of EUR 1.9 per share Group net income of EUR 208 million in Q4 2025 driven by all business activities (EUR 214 million adjusted 1 ): P&C combined ratio of 80.9% with excellent attritional loss performance, a...
Press release 4 March 2026 - N° 04 Fourth quarter 2025 results EUR 208 million net income in Q4 2025, contributing to a strong full year net income of EUR 851 million Proposed regular dividend of EUR 1.9 per share Group net income of EUR 208 million in Q4 2025 driven by all business activities (EUR 214 million adjusted 1 ): P&C combined ratio of 80.9% with excellent attritional loss performance, allowing for buffer building L&H insurance service result 2 of EUR 115 million, with an experience variance in line with expectations over the course of 2025 Investments regular income yield of 3.8%, with continued attractive reinvestment rates of EUR 208 million in Q4 2025 driven by all business activities (EUR 214 million adjusted ): Q4 annualized Return on Equity of 20.4% (21.1% adjusted 1 ), implying full year 2025 Return on Equity of 19.2% (19.1% adjusted 1 ) of 20.4% (21.1% adjusted ), implying full year 2025 Return on Equity of 19.2% (19.1% adjusted ) IFRS 17 Group Economic Value 3 of EUR 8.5 billion as at 31 December 2025, up 13.7% 4 at constant economics 5 (down 1.1% on a reported basis) compared with 31 December 2024, implying an Economic Value per share of EUR 48 of EUR 8.5 billion as at 31 December 2025, up 13.7% at constant economics (down 1.1% on a reported basis) compared with 31 December 2024, implying an of EUR 48 Group solvency ratio of 215% 6 as at 31 December 2025, in the upper part of the optimal solvency range of 185%-220% of 215% as at 31 December 2025, in the upper part of the optimal solvency range of 185%-220% Proposed regular dividend of EUR 1.9 per share for 2025 SCOR SE’s Board of Directors met on 3 March 2026, under the chairmanship of Fabrice Brégier, to approve the Group’s Q4 2025 financial statements. Thierry Léger, Chief Executive Officer of SCOR, comments: “Driven by the disciplined execution of our Forward 2026 strategic plan and the exceptional commitment of our teams, SCOR demonstrated the robustness of its leading franchise and diversif...
The evening light is thinning at Lanark Cross and there is a hush. Then the wee bell in St Nicholas’s church tower, which has lain silent since last autumn, starts up its six o’clock chimes. The waiting crowd of children explodes into movement and noise. About a hundred youngsters, helped by grownups, then make three laps clockwise around the church, swinging homemade balls of paper on string abov...
The evening light is thinning at Lanark Cross and there is a hush. Then the wee bell in St Nicholas’s church tower, which has lain silent since last autumn, starts up its six o’clock chimes. The waiting crowd of children explodes into movement and noise. About a hundred youngsters, helped by grownups, then make three laps clockwise around the church, swinging homemade balls of paper on string above their heads as they run. This is Whuppity Scoorie, a rite of spring that takes place every year in the historic market town of Lanark. Its precise origins are lost to time, but its continued practice and popularity speaks to a revival across the UK of folkloric customs. “It’s about heralding spring and banishing the winter woes,” says Eleanor McLean, the secretary of the Royal Burgh of Lanark community council, which has in recent decades hosted the event that takes place every 1 March, aside from when that falls on a Sunday – as happened this year, meaning it moved to the second day of the month. McLean says local historians have an array of theories about the original practice of the tradition and its unusual name. It was first reported in the Hamilton Advertiser in 1893, when it was claimed the tradition was already 150 years old. Children take part in Whuppity Scoorie Since the mid-19th century Whuppity Scoorie has been known as a children’s festival that marks the end of the curfew of dark nights with a wild celebration of street play. The colourful paper balls chase away the duller, darker spirits of winter, but in an earlier version the town’s children tied up their caps with long strings and whirled them around to see off the young apprentices coming home from the mills at New Lanark. And further back still, the custom may have been linked to ancient religious penitents who were whipped (whupped) around the church, then washed (scoored) in the nearby river. But it is sustained in modern times by Lanark’s “very strong community spirit”, says McLean. “There are a lo...
A prolonged energy crisis triggered by the widening war in the Middle East could offer an economic lifeline to Russia’s war machine at a moment when it was beginning to show signs of strain. The sharp weakening and possible collapse of the regime in Iran would deprive the Kremlin of one of its closest regional partners. But that setback could be outweighed by an economic windfall if disruption pus...
A prolonged energy crisis triggered by the widening war in the Middle East could offer an economic lifeline to Russia’s war machine at a moment when it was beginning to show signs of strain. The sharp weakening and possible collapse of the regime in Iran would deprive the Kremlin of one of its closest regional partners. But that setback could be outweighed by an economic windfall if disruption pushes buyers toward Russian energy, alongside a possible slowdown in western arms supplies to Ukraine. “When a good fifth of global oil supply and roughly a quarter of seaborne trade is effectively locked up, that’s a boon for Russia,” said Sergey Vakulenko, a senior fellow at Carnegie Russia Eurasia Centre and leading expert on Russia’s energy sector. Brent crude rose more than 7% on Tuesday to above $80 a barrel, adding to Monday’s 7.2% jump, after a halt to shipping in the strait of Hormuz followed by Iranian missile and drone strikes on regional infrastructure. The surge pushed prices to their highest level since July 2024 and they are predicted to rise further. India and China – among the largest buyers of Middle Eastern crude – would be hardest hit by any extended disruption and could be forced to increase purchases from Moscow. While Beijing has long diversified its oil imports across the Middle East, Africa and Russia, any sustained disruption to Gulf supplies – particularly from Iran – could speed up a deeper tilt towards Russian barrels, Vakulenko said. View image in fullscreen Petrol trucks lined up at a production facility in Russia. Photograph: Maxim Shemetov/Reuters India faces a more delicate balancing act. Until recently, Russia was its largest supplier of crude, a relationship that deepened after western sanctions reshaped global energy flows. But under a trade deal struck with Donald Trump last month, New Delhi began replacing some Russian cargoes with oil from the Gulf, cutting imports from Moscow to their lowest level since 2022. Should Middle Eastern supp...
Instead of removing plant-munching caterpillars, gardeners asked to take relaxed attitude to support the moths many of them grow into As spring unfolds and plants come to life, gardeners often fight a losing battle against the caterpillars who munch their cabbages. Traditionally, advice for gardeners regarding caterpillars would be about how to get rid of them and stop unsightly holes in plants. B...
Instead of removing plant-munching caterpillars, gardeners asked to take relaxed attitude to support the moths many of them grow into As spring unfolds and plants come to life, gardeners often fight a losing battle against the caterpillars who munch their cabbages. Traditionally, advice for gardeners regarding caterpillars would be about how to get rid of them and stop unsightly holes in plants. But the Royal Horticultural Society (RHS) and the Wildlife Trusts are asking Britons to take a relaxed attitude to caterpillar carnage in order to support the moths many of them grow into. Foxgloves: These pretty plants are food for several moths, including the lesser yellow underwing ( Noctua comes ), angle shades moth ( Phlogophora meticulosa ) and setaceous Hebrew character ( Xestia c-nigrum ). Lady’s bedstraw : This native wildflower with frothy yellow blooms provides food for the hummingbird hawk-moth ( Macroglossum stellatarum ), elephant hawk-moth ( Deilephila elpenor ) and bedstraw hawk-moth ( Hyles gallii ). Mullein : These tall, drought-resistant yellow plants are enjoyed by the brightly striped caterpillars of the mullein moth ( Cucullia verbasci ). Mint: This provides food for the mint moth and beautiful plume moth. It is also loved by bees. Hedges : If you have space, a mixed native hedge planted with hawthorn ( Crataegus monogyna ), blackthorn ( Prunus spinosa ), hazel ( Coryllus avellana ) and dog rose ( Rosa canina ) provides food for a multitude of caterpillars. Continue reading...
At home and abroad, Labour and its leader are under siege. Though the Gorton and Denton result is history now, the repercussions roil his party and underpin the fight for its future. Abroad, the policy rift within the Labour tribe is just as bad, with the fear that the party will be dragged backwards into the wreckage of another illegal war in the Middle East. Yet again Labour and Starmer are damn...
At home and abroad, Labour and its leader are under siege. Though the Gorton and Denton result is history now, the repercussions roil his party and underpin the fight for its future. Abroad, the policy rift within the Labour tribe is just as bad, with the fear that the party will be dragged backwards into the wreckage of another illegal war in the Middle East. Yet again Labour and Starmer are damned both ways, with much of the party raging at its leader and a “very disappointed” Donald Trump angry, not appeased. In seeking a clear way through the multiple rocky paths before him, the prime minister could sensibly start by looking again, and at last, at the way he was charged with those responsibilities. With the Middle East in flames and oil prices soaring, the representation of the people bill got scant attention when it passed through parliament on Monday. It was conceived to reform the electoral system, but it’s notable for what is absent: changes that must now be made to first past the post (FPTP). Last week’s byelection shocked Labour, but it also shocked the Institute for Government, that sober monitor of due process, into sounding the alarm about the risk to democracy itself when a system built for two parties no longer fits a multiparty world. Director Hannah White warned of a message from Gorton and Denton, saying the system has become “dangerous” when people are forced to vote tactically, but can’t know where best to place that X. This denial of democracy, she cautioned, may “undermine the legitimacy of the future governments it delivers”. Perhaps that is already happening. Given that Labour took 63% of seats on just 33.7% of votes in 2024’s general election, who is to say its rapid descent into unpopularity is not the result of so few having actually voted for it. It was one of the most disproportional votes-to-seats results seen anywhere in the world. But then, nowhere in Europe but the UK still uses first past the post. The first-past-the-post system was...
I still remember, when I was a kid, the end of spring and early summer when markets in Jerusalem and across Palestine overflowed with freshly harvested freekeh. As you approached, the air carried a smoky, earthy aroma. Freekeh is an ancient grain, a staple across the Middle East and Turkey, made from green wheat roasted over open fires to burn off the husks, which gives it the characteristic nutty...
I still remember, when I was a kid, the end of spring and early summer when markets in Jerusalem and across Palestine overflowed with freshly harvested freekeh. As you approached, the air carried a smoky, earthy aroma. Freekeh is an ancient grain, a staple across the Middle East and Turkey, made from green wheat roasted over open fires to burn off the husks, which gives it the characteristic nutty flavour. The name comes from the Arabic freek, meaning “to rub”, which describes how the grains are cleaned, dried, cracked and stored for the year. Stuffed peppers with freekeh, lamb and spicy tomato sauce Throughout the Middle East and Palestine, mahashi (stuffing vegetables) is a true labour of love, creating dishes that are designed to be shared. Though they take time to prepare, they disappear quickly once served. Here, romano peppers work beautifully, but small normal peppers are a great alternative. When they’re in season, tomatoes or small aubergines can be used instead. Once cooked, these peppers taste better next day; serve reheated or at room temperature with yoghurt and bread to soak up the juices. Any leftovers make a great lunch, too. Prep 10 min Soak 15 min Cook 2 hr, plus cooling Serves 4 100g cracked freekeh 8 large red romano peppers (about 1.2kg) 500g tomato passata 3 tbsp olive oil, plus extra for drizzling 3 tbsp pomegranate molasses 3 garlic cloves, peeled and crushed ¾ tsp dried mint Salt and black pepper 1 small onion, peeled and finely chopped (100g) 250g minced lamb 10g flat-leaf parsley, finely chopped ½ tsp dried aleppo chilli flakes 1¼ tsp ground cumin 1 tsp ground coriander ¼ tsp ground cinnamon ¼ tsp ground allspice Put the freekeh in a fine sieve and rinse under cold running water. Transfer the freekeh to a small saucepan, cover with plenty of fresh cold water, and leave to soak for 15 minutes. Using a small knife, make a vertical cut along the length of each romano pepper, keeping the stem intact. Gently prise open the peppers, then scoop o...
I sit my office in Srinagar surrounded by the steady, safe hum of the secondary school where I work. As academic head, my mind is occupied with curriculums and pupil progress. But my soul is 130km north of the Jammu and Kashmir city, behind the jagged peaks of the Razdan Pass, in the silence of the Tulail valley. I am a daughter of the Dard Shin. We are a tribe whose history is etched in the Himal...
I sit my office in Srinagar surrounded by the steady, safe hum of the secondary school where I work. As academic head, my mind is occupied with curriculums and pupil progress. But my soul is 130km north of the Jammu and Kashmir city, behind the jagged peaks of the Razdan Pass, in the silence of the Tulail valley. I am a daughter of the Dard Shin. We are a tribe whose history is etched in the Himalayan granite by the glacial water of the Kishanganga River. My father became the first professor of commerce from Tulail. His struggle to education was physical. He walked through snow that reached his waist to find a world that did not know he existed. His journey from the remote highlands to higher education gave me wings to fly. Yetthose I left behind – the sisters of my tribe – are still grounded in the frost. For six months, snow seals the Tulail valley. In this frozen isolation, the Dard Shin women are the architects of survival. They are the first to break the ice on the water buckets in the dawn. Their hands never stop. They spin, they knead, they work until they collapse into sleep, only to wake and do it all again. In the middle of this hardship, the children of Tulail carry dreams. I remember nine-year-old Zubeida. “I want to be a doctor,” she told me. “When the snow is deep and the mothers are in pain, I want to be the one who knows how to make them better. I will wear a white coat like the snow, but I will bring warmth.” The path to a medical degree is blocked by more than just mountains. There is no high school here for her to attend. Twelve-year-old Irfan’s father and brothers are away working in the building sites of Shimla. Irfan’s jaw is set: “I don’t want to carry stones. I want to be a scientist. “I want to study why the stars are so bright in Tulail and how we can use the sun to keep our homes warm when the electricity goes away.” When the first frost bites, the men of Tulail pack their frayed bags and leave for the construction sites in Shimla or the a...