As models get smarter and more capable, the "harnesses" around them must also evolve. This "harness engineering" is an extension of context engineering, says LangChain co-founder and CEO Harrison Chase in a new VentureBeat Beyond the Pilot podcast episode. Whereas traditional AI harnesses have tended to constrain models from running in loops and calling tools, harnesses specifically built for AI a...
As models get smarter and more capable, the "harnesses" around them must also evolve. This "harness engineering" is an extension of context engineering, says LangChain co-founder and CEO Harrison Chase in a new VentureBeat Beyond the Pilot podcast episode. Whereas traditional AI harnesses have tended to constrain models from running in loops and calling tools, harnesses specifically built for AI agents allow them to interact more independently and effectively perform long-running tasks. Chase also weighed in on OpenAI's acquisition of OpenClaw , arguing that its viral success came down to a willingness to "let it rip" in ways that no major lab would — and questioning whether the acquisition actually gets OpenAI closer to a safe enterprise version of the product. “The trend in harnesses is to actually give the large language model (LLM) itself more control over context engineering, letting it decide what it sees and what it doesn't see,” Chase says. “Now, this idea of a long-running, more autonomous assistant is viable.” Tracking progress and maintaining coherence While the concept of allowing LLMs to run in a loop and call tools seems relatively simple, it’s difficult to pull off reliably, Chase noted. For a while, models were “below the threshold of usefulness” and simply couldn’t run in a loop, so devs used graphs and wrote chains to get around that. Chase pointed to AutoGPT — once the fastest-growing GitHub project ever — as a cautionary example: same architecture as today's top agents, but the models weren't good enough yet to run reliably in a loop, so it faded fast. But as LLMs keep improving, teams can construct environments where models can run in loops and plan over longer horizons, and they can continually improve these harnesses. Previously, “you couldn't really make improvements to the harness because you couldn't actually run the model in a harness,” Chase said. LangChain’s answer to this is Deep Agents, a customizable general-purpose harness . Built on...
A group of investors holding a majority of Kennedy-Wilson Inc. bonds plan to skip the company’s debt exchange offer and instead seek a cash payment, according to people familiar with the matter. The group, which is being advised by law firm Milbank and investment bank Houlihan Lokey Inc. , holds a majority of each of the three series of senior bonds that the real estate investment firm is seeking ...
A group of investors holding a majority of Kennedy-Wilson Inc. bonds plan to skip the company’s debt exchange offer and instead seek a cash payment, according to people familiar with the matter. The group, which is being advised by law firm Milbank and investment bank Houlihan Lokey Inc. , holds a majority of each of the three series of senior bonds that the real estate investment firm is seeking to exchange, the people said, asking not to be identified discussing private information. Kennedy-Wilson agreed last month to be acquired in an all-cash merger by a consortium led by Chief Executive Officer William McMorrow and Fairfax Financial. That transaction triggers a change of control covenant in the senior notes. According to the bond prospectuses, a change of control event requires the company to repay the notes at 101 cents on the dollar plus accrued interest. Instead, Kennedy-Wilson launched an offer to exchange the three outstanding bonds for two bonds with longer maturities and higher coupons. Investors tendering the bonds by the early deadline of March 13 would receive a principal amount of the new notes at par or above, depending on the existing notes they were exchanging, and would receive 95% of face value if they accept the exchange later. When it announced the offer on March 2, the company said creditors holding about 19% of the existing 2029 notes, about 35% of the existing 2030 notes and about 27% of the existing 2031 notes had already agreed to support the offer. Representatives for Kennedy-Wilson, Milbank, Houlihan Lokey, McMorrow and Fairfax Financial did not immediately respond to a request for comment.
martin-dm/E+ via Getty Images NEW YORK (March 6) - The Bureau of Labor Statistics (BLS) today reported 92,000 jobs lost , according to the Establishment Survey, a collection of job creation data from businesses replying to the survey. The number was a catastrophic miss from the 65,000 jobs that markets had anticipated. The private payroll number showed 86,000 jobs lost after taking account of 6,00...
martin-dm/E+ via Getty Images NEW YORK (March 6) - The Bureau of Labor Statistics (BLS) today reported 92,000 jobs lost , according to the Establishment Survey, a collection of job creation data from businesses replying to the survey. The number was a catastrophic miss from the 65,000 jobs that markets had anticipated. The private payroll number showed 86,000 jobs lost after taking account of 6,000 government jobs lost. December and January revisions resulted in an additional 69,000 jobs lost. For the three months from December, 2025, average monthly jobs creation has been less than 6,000 jobs per month, affirming our view in prior jobs and GDP reports that the economy is slowing. The BLS’s Household Survey , which polls the number of people taking jobs, and is viewed as eliminating workers holding more than one job, printed even worse than the Establishment Survey, showing 185,000 jobs lost. The unemployment rate and the U6 rate were 4.4% and 7.9%, respectively. The “U6” is the percentage of the population that is unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, plus all persons marginally attached to the labor force. Just 18,000 people joined the civilian labor force, the Labor Force Participation Rate fell nonetheless, to just 62%. Let’s look at our exclusive schedule of November and December Jobs Creation by Average Weekly Wages: January & February Jobs Creation by Average Weekly Wages (The Stuyvesant Square Consultancy (from BLS Data)) As you can see, jobs data for February was a veritable blood bath, with virtually no bright spots in the current months' (green) bars. So let’s move on to the status of the… Economy Generally The onset of the Iran War has significantly altered the outlook for the economy. Gasoline and diesel fuel prices have increased significantly, according to this chart adopted from AAA: Time Frame Regular Mid-Grade Premium Diesel Current Avg. $3.32 $3.82 $4.18 $4.33 Yeste...
U.S. President Donald Trump speaks during a round table on collegiate sports in the White House in Washington, D.C., March 6, 2026. Nathan Howard | Reuters President Donald Trump on Friday urged Congress to "fix" what he described as an untenable financial situation in college sports because of the relatively new system of payments to football , basketball , and other players under name, image and...
U.S. President Donald Trump speaks during a round table on collegiate sports in the White House in Washington, D.C., March 6, 2026. Nathan Howard | Reuters President Donald Trump on Friday urged Congress to "fix" what he described as an untenable financial situation in college sports because of the relatively new system of payments to football , basketball , and other players under name, image and likeness compensation. Trump's comments came at a White House roundtable on college sports that he was hosting. "The amount of money being spent and lost by otherwise very successful schools is astounding, just in a short period of time," Trump said. "It's only going to get worse. "It's crazy," Trump said. "Young people are being signed, 17-year-old quarterbacks for $12 million, 13 million, 14 million." Read more CNBC politics coverage Iran foreign minister: Not seeking ceasefire, warns U.S. invasion would be ‘big disaster for them’ Epstein files: DOJ plans to release new batch of documents ‘fairly soon,’ MS NOW reports Sen. Merkley proposes prediction market ban for government officials after Maduro, Iran bets "We have a seven-year freshman," he said. "We're seeing things that we've never seen before. We have college players that don't want to go to the NFL because they're making more money in college, right?" "A lot of really bad things are happening, but basic questions like who is eligible to play are now virtually unregulated and decided randomly by judges rather than by reasonable, agreed-upon rules that could be very simple and very simply drawn," he said. "So this has grown into a major challenge." This is breaking news. Please refresh for updates.
In Brief Life Electric Vehicles Holdings, also known as Life EV, officially owns the intellectual property, inventory, and certain operating assets of Rad Power Bikes. Life EV acquired Rad Power for $13.2 million. Rad Power Bikes, a buzzy electric bike company that raised nearly $330 million in venture capital, filed for Chapter 11 bankruptcy protection in December. The company had struggled for m...
In Brief Life Electric Vehicles Holdings, also known as Life EV, officially owns the intellectual property, inventory, and certain operating assets of Rad Power Bikes. Life EV acquired Rad Power for $13.2 million. Rad Power Bikes, a buzzy electric bike company that raised nearly $330 million in venture capital, filed for Chapter 11 bankruptcy protection in December. The company had struggled for months prior to its bankruptcy filing, and had warned employees it might have to shut down without new capital. Life EV intends to keep the company intact and said it will continue retail operations under the Rad Power Bikes brand in the United States. It also plans to expand the retail footprint in select key markets. Life EV also pledged to support existing customers who might be wondering what would become of their bike warranties or even gift cards. The Florida-based Life EV has built its business by acquiring, developing, and scaling electric bicycle and micro-mobility brands. While Rad Power is perhaps its highest profile purchase, the company also holds an equity interest in LEV Manufacturing, Inc., which acquired the Serial 1 premium electric bicycle brand originally developed and spun off from Harley-Davidson. In a statement, Life EV said the acquisition fits into its broader strategy of expansion across North America.
Treasury Secretary Scott Bessent said the US may lift sanctions on further Russian oil supply after a move Thursday to give Indian refiners the green light to purchase crude from the nation. “Treasury agreed to let our allies in India start buying Russian oil that was already on the water,” Bessent said in an interview with Fox Business Friday.“To ease the temporary gap of oil around the world, we...
Treasury Secretary Scott Bessent said the US may lift sanctions on further Russian oil supply after a move Thursday to give Indian refiners the green light to purchase crude from the nation. “Treasury agreed to let our allies in India start buying Russian oil that was already on the water,” Bessent said in an interview with Fox Business Friday.“To ease the temporary gap of oil around the world, we have given them permission to accept the Russian oil. We may unsanction other Russian oil.” Bessent said there’s “hundreds of millions of sanctioned barrels” of crude on the water now. “In essence, by unsanctioning them, Treasury can create supply,” he said.
Next week brings a slate of potentially market-moving events, with inflation data front and center. Wednesday's consumer-price index and Friday's personal-consumption expenditures index will offer the Federal Reserve two new reads on price pressures.
Next week brings a slate of potentially market-moving events, with inflation data front and center. Wednesday's consumer-price index and Friday's personal-consumption expenditures index will offer the Federal Reserve two new reads on price pressures.
Key Points 140 Summer Partners Increased position by 178,360 shares in the fourth quarter. The quarter-end value of stake rose by $64.9 million, reflecting both buying activity and stock price movement. The additional shares brought the firm's stake to 225,860 shares valued at $81.3 million as of December 31, 2025. Acuity now comprises 6% of 140 Summer Partners LP’s 13F assets, which places it out...
Key Points 140 Summer Partners Increased position by 178,360 shares in the fourth quarter. The quarter-end value of stake rose by $64.9 million, reflecting both buying activity and stock price movement. The additional shares brought the firm's stake to 225,860 shares valued at $81.3 million as of December 31, 2025. Acuity now comprises 6% of 140 Summer Partners LP’s 13F assets, which places it outside the fund's top five holdings. 10 stocks we like better than Acuity › On Feb. 13, 2026, 140 Summer Partners LP disclosed a buy of 178,360 Acuity (NYSE:AYI) in the fourth quarter. The fund held a stake valued at $81 million based on closing market prices at the end of the quarter. What happened According to a Feb. 13, 2026, SEC filing, 140 Summer Partners LP increased its position in Acuity by 178,360 shares in the fourth quarter. The quarter-end value of the stake rose by $64.9 million, reflecting both share purchases and price fluctuations. What else to know This buy brings the fund’s AYI stake to 6.0% of reportable assets under management (AUM) as of Dec. 31, 2025. Top holdings after the filing: NYSE: COF: $148.1 million (10.9% of AUM) NASDAQ: SATS: $99.6 million (7.4% of AUM) NYSE: PFSI: $88.3 million (6.5% of AUM) NYSE: WBS: $85.6 million (6.3% of AUM) NYSE: AER: $81.6 million (6.0% of AUM) As of Feb. 13, 2026, shares were trading at $305.50, down 6.1% over the past year and underperforming the S&P 500 by 17.9 percentage points. Company overview Metric Value Revenue (TTM) $4.54 billion Net income (TTM) $410 million Dividend yield 0.23% Price (as of market close 2/13/26) $305.50 Company snapshot Offers commercial, architectural, and specialty lighting solutions, lighting controls, and building management systems through brands such as Lithonia Lighting, Holophane, Distech Controls, and Atrius. Generates revenue primarily by designing, manufacturing, and distributing lighting and building management products for indoor and outdoor applications, as well as providing in...
Leila Melhado/iStock Editorial via Getty Images Yesterday, I was looking at some Walmart ( WMT ) charts and saw this bizarre thing: Koyfin Today, Walmart's forward P/E ratio is 43x, which is already high considering its average of 27x. But there's a huge gap when we consider the Nasdaq ( QQQ ), and this shows how the market is (heavily) rewarding some stocks. But then I had the idea of checking ou...
Leila Melhado/iStock Editorial via Getty Images Yesterday, I was looking at some Walmart ( WMT ) charts and saw this bizarre thing: Koyfin Today, Walmart's forward P/E ratio is 43x, which is already high considering its average of 27x. But there's a huge gap when we consider the Nasdaq ( QQQ ), and this shows how the market is (heavily) rewarding some stocks. But then I had the idea of checking out Walmart's global peers. I know that domestic peers, such as Costco ( COST ), are just as expensive or even more expensive, and basically that's the only player as big as Walmart. But it turns out that some names like Carrefour SA ( CRRFY ) ( CRERF ) aren't just a little cheaper; they're much cheaper than Walmart, which shows how the market is also neglecting some regions. We aren't looking at a fragile player in the supermarket industry or, for instance, a big player in a volatile region such as Latin America. Carrefour is actually a European behemoth, but with a very low valuation (and with a dividend yield of 7.4% ). I'm starting my coverage of Carrefour with a buy. Carrefour Isn't A Small Company I think that before delving into Carrefour's risks, it's worth looking at its big numbers, precisely because the single-digit P/E makes it look like it's a dying company or one with very high risks, which definitely isn’t the case. Carrefour has about 15,000 stores, and check the image below; they're a leader or second in core regions. They're a leader only in Brazil, and the market is still very fragmented, so it has a lot of capacity for expansion. Last year, Carrefour had €91B+ in revenue. Of course, it's still far from Walmart's size (around 87% lower), but it's still a big figure, especially in the European context. Carrefour IR Still comparing it with Walmart, Carrefour doesn’t have a giant ecosystem yet, but we can't say it's just a simple supermarket. Private labels already have very high penetration, which helps with margins, and e-commerce is in a good momentum, not ...
The US customs agency is readying a system within 45 days to process refunds on President Donald Trump’s tariffs that were struck down as illegal, a customs official said in a court filing on Friday. The declaration by Customs and Border Protection official Brandon Lord came just before government lawyers met with a federal trade judge to try to hammer out a broad settlement process for returning...
The US customs agency is readying a system within 45 days to process refunds on President Donald Trump’s tariffs that were struck down as illegal, a customs official said in a court filing on Friday. The declaration by Customs and Border Protection official Brandon Lord came just before government lawyers met with a federal trade judge to try to hammer out a broad settlement process for returning US$166 billion in tariff payments to around 330,000 importers. Last month, the US Supreme Court struck down as unconstitutional the tariffs that were a central part of Trump’s economic policy. The court did not say how the collected tariffs should be refunded, leaving small importers worried the process would be expensive and time-consuming. Advertisement “This new process will require minimal submission from importers,” Lord said in his declaration, filed with the US Court of International Trade as government lawyers began meeting with Judge Richard Eaton from the court. Eaton called the meeting to discuss how the government will carry out his sweeping order issued on Wednesday directing the CBP to begin refunding tariffs to potentially hundreds of thousands of importers using the agency’s existing internal process. The US Court of International Trade is pictured in New York in March 2015. Photo: AP On Friday, after concluding the meeting with the government lawyers, he said in a court filing he was amending that order to no longer require “immediate compliance” and appeared to be giving CBP time to carry out the new system. Eaton said he changed his order after considering the “declaration of Brandon Lord”.
Key Points Sold 189,819 AppFolio shares; estimated transaction value ~$45.11 million based on fourth-quarter average pricing. Quarter-end position value declined by $58.87 million, reflecting both share sale and price movement. Trade represented 3.7% of Brown Capital’s reported 13F assets under management. Post-trade holding: 152,123 shares valued at $35.39 million. AppFolio stake now 2.9% of fund...
Key Points Sold 189,819 AppFolio shares; estimated transaction value ~$45.11 million based on fourth-quarter average pricing. Quarter-end position value declined by $58.87 million, reflecting both share sale and price movement. Trade represented 3.7% of Brown Capital’s reported 13F assets under management. Post-trade holding: 152,123 shares valued at $35.39 million. AppFolio stake now 2.9% of fund AUM, placing it outside the fund’s top five holdings. 10 stocks we like better than AppFolio › On February 17, 2026, Brown Capital Management reported selling 189,819 AppFolio shares, an estimated $45.11 million trade based on quarterly average pricing, per SEC filings. What happened According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Brown Capital Management sold 189,819 shares of AppFolio (NASDAQ:APPF) during the fourth quarter. The estimated transaction value was $45.11 million, based on the average closing price for the period. The quarter-end value of the AppFolio position declined by $58.87 million, a figure that includes both the share reduction and changes in the stock price. What else to know Brown Capital Management’s AppFolio position now represents 2.9% of its 13F assets under management after the sale. Top five holdings after the filing: NASDAQ:CAMT: $114.33 million (9.4% of AUM) NASDAQ:GLBE: $94.53 million (7.8% of AUM) NASDAQ:CYBR: $68.04 million (5.6% of AUM) NASDAQ:RGEN: $44.89 million (3.7% of AUM) NASDAQ:XMTR: $41.55 million (3.4% of AUM) As of February 17, 2026, AppFolio shares were priced at $168.79, down 20.6% over the previous year and trailing the S&P 500 by 34.25 percentage points. Company overview Metric Value Revenue (TTM) $950.82 million Net Income (TTM) $140.92 million Price (as of market close 2026-02-17) $168.79 One-Year Price Change (20.61%) Company snapshot Provides cloud-based business management solutions for the real estate industry, including property management platforms, investment management tools,...