Prosus NV is targeting $3.6 billion in revenue from Just Eat Takeaway.com in a year as it looks to boost efficiency in its European food-delivery business at a time of rapid consolidation in the sector. The Dutch technology investor also expects Just Eat to generate $100 million in adjusted earnings before interest, taxes, depreciation, and amortization by the end of its 2027 financial year, which...
Prosus NV is targeting $3.6 billion in revenue from Just Eat Takeaway.com in a year as it looks to boost efficiency in its European food-delivery business at a time of rapid consolidation in the sector. The Dutch technology investor also expects Just Eat to generate $100 million in adjusted earnings before interest, taxes, depreciation, and amortization by the end of its 2027 financial year, which falls in March, Chief Executive Officer Fabricio Bloisi said in a shareholder letter released Tuesday. Prosus bought Just Eat for last year in a deal that expanded its food-delivery portfolio into Europe. The business operates in 15 markets including the UK, Germany and the Netherlands. “After four years of decline, we expect to return Just Eat Takeaway.com to orders and revenue growth by the end of the year,” Bloisi said in the letter. As part of Prosus’s bid to acquire Just Eat, the company made a commitment to the European Commission last August to sell most of its 27% stake in rival Delivery Hero over competition concerns. Prosus said on Monday that it was offloading 5% of that stake to Hong Kong’s Aspex Management after selling a 4.5% stake to Uber Technologies Inc. last month. Bloisi said Prosus’s large commerce model would drive efficiencies in Just Eat’s business, with market tests showing overall order volumes growing more than 25% annually in some cities. Prosus is also accelerating its investment in its Ifood business in Brazil, which will see it reduce its adjusted Ebitda guidance to between $100 million and $150 million for the 2027 year, said Bloisi. Overall, Bloisi said Prosus met its guidance of $7.3 billion in revenue and $1.1 billion in e-commerce adjusted Ebidta for its 2026 financial year, excluding contributions from Just Eat and French online auto trader La Centrale, its other European acquisition. The company disposed of $2 billion in non-strategic assets during the year, and generated another $700 million through the sale of part of its stake in Del...
Keir Starmer’s plan for full state ownership marks latest chapter in Scunthorpe plant’s troubled history Full nationalisation of British Steel expected in king’s speech Nils Pratley: More questions than answers on the future Four queens – blast furnaces named after Anne, Bess (Elizabeth), Victoria and Mary – loom over the British Steel works at Scunthorpe. Within days the queens could be under pub...
Keir Starmer’s plan for full state ownership marks latest chapter in Scunthorpe plant’s troubled history Full nationalisation of British Steel expected in king’s speech Nils Pratley: More questions than answers on the future Four queens – blast furnaces named after Anne, Bess (Elizabeth), Victoria and Mary – loom over the British Steel works at Scunthorpe. Within days the queens could be under public ownership, after Keir Starmer on Monday promised legislation to nationalise the plant. “Strong nations in a world like this need to make steel,” Starmer said on Monday in a speech. The prime minister was hoping decisive action would fend off challenges to his leadership. Continue reading...
Nigel Farage’s ascent to power is not inevitable, and his party’s success in the May elections will expose its major weaknesses There is no sugarcoating the fact that on the basis of last week’s elections, Reform UK is now the largest party in British politics, if only by vote share. It is still a long way from ever winning power at Westminster, but we don’t need to look far to see whether a Refor...
Nigel Farage’s ascent to power is not inevitable, and his party’s success in the May elections will expose its major weaknesses There is no sugarcoating the fact that on the basis of last week’s elections, Reform UK is now the largest party in British politics, if only by vote share. It is still a long way from ever winning power at Westminster, but we don’t need to look far to see whether a Reform government would try to make good on its various threats – because Reform is our local version of an international wave of populist rightwing nationalism. This loosely connected movement has declared its hostility to the checks and balances that prevent democracy from becoming a tyranny of the majority, or even of those with only a plurality of support. It can be chaotic and destructive, like Nigel Farage’s beloved Donald Trump, or slow and grinding like the recently departed Hungarian government of Viktor Orbán. But we can make a reasonable guess as to what life under a Reform government might look like – and I suspect it’s something that neither you nor I would welcome. Continue reading...
Jack Archer’s gentle film follows the immensely likable Rob MacNeacail as he journeys across Scotland and Ireland in a bid to save these traditional songs of people and place There’s no word in Scottish Gaelic for “moreish” – or if there is, it slips Rob MacNeacail’s mind as he reaches for another biscuit in a church hall. MacNeacail is a Gaelic psalm singer and the eccentric star of this gentle a...
Jack Archer’s gentle film follows the immensely likable Rob MacNeacail as he journeys across Scotland and Ireland in a bid to save these traditional songs of people and place There’s no word in Scottish Gaelic for “moreish” – or if there is, it slips Rob MacNeacail’s mind as he reaches for another biscuit in a church hall. MacNeacail is a Gaelic psalm singer and the eccentric star of this gentle and rather lovely film from Jack Archer that follows him on a mission to meet other singers keeping the tradition alive. Not that you’ll learn an awful lot about the history of psalm singing from this film; it is essentially an observational portrait of MacNeacail, at his home on the Scottish borders then out on the road to the Outer Hebrides, Skye, Belfast and County Cork. But no knowledge is necessary to enjoy the extraordinarily rich and textured sound of psalm singing, once practised at Free Presbyterian churches all over Scotland. It’s a community activity: one person – the precentor – sings a line of a psalm from the bible, and everyone else sings it back slowly, each with their own interpretation, at their own tempo. No instruments, just voices; like the sea, the sound comes in great swells and then retreats. It’s haunting; shut your eyes and you might be in a stone chapel in the 1800s. Continue reading...
An awe‑inspiring investigation of the untamed places and inhospitable environments in which life – besides humans – finds a way Off the coast of California, two miles down, there exist geothermal nurseries: gatherings of tens of thousands of small violet octopuses, each the size of a grapefruit. Known as pearl octopuses ( Muusoctopus robustus ), they congregate around hydrothermal springs which wa...
An awe‑inspiring investigation of the untamed places and inhospitable environments in which life – besides humans – finds a way Off the coast of California, two miles down, there exist geothermal nurseries: gatherings of tens of thousands of small violet octopuses, each the size of a grapefruit. Known as pearl octopuses ( Muusoctopus robustus ), they congregate around hydrothermal springs which warm their eggs, allowing them to hatch in less than two years (in cold water it can take 10 years). When I want to calm my mind, I think of these gatherings, this factory of octopuses powered by the Earth’s energy that exists quietly away from our gaze, and might easily never have been discovered. How many more such worlds exist? The seafloor is just one setting in Cal Flyn’s carnival of a book, The Savage Landscape, a wondrous personal journey to locate and understand wilderness. It’s a work of extraordinary physical and narrative movement that takes us from the depths of the ocean to volcanoes and icebergs, but is also a journey into our own psyches, and the stories we tell ourselves about “wild” landscapes. Above all, it is a reminder that the places we might conceive of as empty or barren are no such thing; that within wildernesses there is abundant life, both human and nonhuman. Continue reading...
We had booked a cruise for him and his carers, but we had a string of problems when we tried to change names In November 2024, I booked a cruise for my wife, myself and our severely disabled son for this July. I’d booked well in advance to ensure an accessible cabin for my son. At home, he needs round-the-clock care from a rota of eight carers, so we made extra bookings for three to accompany him....
We had booked a cruise for him and his carers, but we had a string of problems when we tried to change names In November 2024, I booked a cruise for my wife, myself and our severely disabled son for this July. I’d booked well in advance to ensure an accessible cabin for my son. At home, he needs round-the-clock care from a rota of eight carers, so we made extra bookings for three to accompany him. Because the care team has other commitments, I couldn’t confirm their names at the time of booking and was told to do so by this April, when the balance had to be paid. Continue reading...
The island of Samsø offers tranquil walks, biking, birding, distillery and pottery tours, and locally sourced fare – including citrusy ants ‘We have lammerullepøllse – lamb rolled sausage – today,” says Daniel Hesseldal-Haines, chef at Det Lille Sommerhotel on the Danish island of Samsø. “It tastes better than the translation sounds. And,” he gestures towards a woman sitting by the window, “the la...
The island of Samsø offers tranquil walks, biking, birding, distillery and pottery tours, and locally sourced fare – including citrusy ants ‘We have lammerullepøllse – lamb rolled sausage – today,” says Daniel Hesseldal-Haines, chef at Det Lille Sommerhotel on the Danish island of Samsø. “It tastes better than the translation sounds. And,” he gestures towards a woman sitting by the window, “the lamb is from Camilla’s farm.” Camilla gives us a friendly wave, and my eyes fix upon her sweater, featuring row upon row of colourful motifs. Think Fair Isle but less orderly: each stripe holds a different design. “Oh, I made this,” she says. “It’s hønsestrik – chicken knitting. You can use it to tell your story – so this one is about hiking,” she adds, pointing to each section: “These are my footprints, this is my tent, my coffee flask …” Continue reading...
From Black debutantes to Bolivian matriarchs, this year’s Saltzman-Leibovitz prize shows the diverse subjects being tackled by the next generation of female storytellers Continue reading...
From Black debutantes to Bolivian matriarchs, this year’s Saltzman-Leibovitz prize shows the diverse subjects being tackled by the next generation of female storytellers Continue reading...
A special education institute in eastern China that targets “problematic” teenagers has sparked controversy for allowing its students to carry toy dolls throughout the school day as part of gratitude lessons. Yuanzhong Special Education School, located in Xuzhou, Jiangsu province, accepts adolescent students who exhibit rebellious behaviour, lack motivation for studying, are addicted to online gam...
A special education institute in eastern China that targets “problematic” teenagers has sparked controversy for allowing its students to carry toy dolls throughout the school day as part of gratitude lessons. Yuanzhong Special Education School, located in Xuzhou, Jiangsu province, accepts adolescent students who exhibit rebellious behaviour, lack motivation for studying, are addicted to online games, or display a fiery temper and early dating tendencies. Recently, videos of students carrying toy...
Oselote/iStock via Getty Images By Mandy Xu Cross-Asset Volatility : Implied volatilities were mixed last week as risk assets continued to rally on better US economic data and hopes of US-Iran resolution. Oil, rates, FX, and credit volatilities all fell wk/wk led by oil volatility, with the OVX Index declining 3.3 vol pts to 72% - though oil still ranks as one of the richest cross-asset vols (see ...
Oselote/iStock via Getty Images By Mandy Xu Cross-Asset Volatility : Implied volatilities were mixed last week as risk assets continued to rally on better US economic data and hopes of US-Iran resolution. Oil, rates, FX, and credit volatilities all fell wk/wk led by oil volatility, with the OVX Index declining 3.3 vol pts to 72% - though oil still ranks as one of the richest cross-asset vols (see Exhibit 1). Inflation expectations fell on the back of lower oil prices, helping to drive both rates and credit volatilities lower. In contrast, both equity and gold implied volatilities gained modestly, with the VIX® Index rising 0.2 pt to 17.2% and GLD 1M implied volatility increasing 0.7 pt to 23.7%. The correlation (1M) between equities and gold has jumped sharply higher in recent weeks to a 1-year high of 83%, with gold trading more like a risk asset than a safe haven asset (see pg 3 for more on correlation). While the two assets have traded in tandem recently, their outlooks have diverged notably. While equity positioning has gotten more bullish, gold options positioning remains very cautious, with GLD 3M skew trading in the 87th percentile high (vs. SPX® 3M skew falling to near a 1-year low). Equity Volatility : While the SPX Index is up over 9% over the past month, the rally has been incredibly concentrated, led largely by tech (up 20%). In fact, 4 of the 11 S&P sectors are down over the past month, and another 3 are mostly unch’d. In other words, we’ve seen incredibly high dispersion underneath the index surface, which helps explain why index volatility is so muted while single stock volatility remains elevated (e.g., VIX Index down 4 pts vs. VIXEQSM Index up 1 pt over the past month). The difference between the two has widened to the 98th percentile high (see Exhibit 2). This can also be seen in measures of implied correlation, with the COR1M Index falling back to near a historically low level of ~10%. Retail Positioning in Tech Reaches 2021 Extremes: As tech has ...
The Reon Pocket Pro Plus delivers a 20 percent improvement in cooling performance over last year’s model. | Image: Sony Sony has announced a new version of the wearable personal air conditioner the company first revealed in 2019 ahead of the 2020 Tokyo Olympics. The latest version is an upgrade to last year's Pro model , and while the new Reon Pocket Pro Plus isn't a complete overhaul of the hardw...
The Reon Pocket Pro Plus delivers a 20 percent improvement in cooling performance over last year’s model. | Image: Sony Sony has announced a new version of the wearable personal air conditioner the company first revealed in 2019 ahead of the 2020 Tokyo Olympics. The latest version is an upgrade to last year's Pro model , and while the new Reon Pocket Pro Plus isn't a complete overhaul of the hardware, it comes with performance upgrades and design updates making it easier to wear discreetly under many kinds of shirts. It's launching in Europe and other markets today for €229/£199, or around $270. As with all the previous versions, Sony hasn't mentioned plans to bring it to the US. Instead of simply blasting you with air like the Dyson HushJet Mini Cool , the Re … Read the full story at The Verge.
Europe Fails To React To Ukrainian Drone Incidents Authored by Lucas Leiroz de Almeida via Global Research, Recent drone incidents in European countries, especially in the Baltic states, are generating controversy among those who support the war with Russia. Some argue that Ukraine is merely defending itself against “Russian aggression,” with these “accidental” occurrences being an inevitable side...
Europe Fails To React To Ukrainian Drone Incidents Authored by Lucas Leiroz de Almeida via Global Research, Recent drone incidents in European countries, especially in the Baltic states, are generating controversy among those who support the war with Russia. Some argue that Ukraine is merely defending itself against “Russian aggression,” with these “accidental” occurrences being an inevitable side effect of hostilities. Others believe that Kiev should act more cautiously to avoid harming partner countries. Meanwhile, drones continue to crash in Europe without a definitive solution being presented for this issue. Recently, a kamikaze drone launched by Ukraine struck a fuel storage tank in Latvia . At the time of the incident, the tank was empty, which prevented a major tragedy. Had the drone hit a full tank, the result would have been a large explosion, followed by a massive fire, generating serious economic and environmental damage – as has happened in several recent cases in Russian border regions, with drones hitting energy facilities and causing serious fires. Obviously, the expected attitude of any country hit by a foreign drone – even from an allied country – is at least to condemn the action and demand financial compensation for the damage caused. But apparently, this is not the Latvian stance regarding Ukrainian drones falling in the country. Recently, Latvian Defense Minister Andris Spruds stated that Kiev should not be held responsible for these incidents. According to him, these are merely accidental collateral damages, with the real blame for the occurrence lying with Russia – which he believes “started the war”. Spruds stated that “Ukraine has every right to defend itself,” admitting that even incidents affecting Latvian territory should be tolerated, since Kiev is only acting in “legitimate self-defense.” In practice, he prioritized the supposed Ukrainian “right” to attack Russia over the national security of Latvian territory and people. Not only that,...
Tim Robberts/DigitalVision via Getty Images DigitalOcean ( DOCN ) has become an AI winner. The stock has delivered incredible results, and management is projecting the company to see growth more than double by next year. Agentic AI will require greater computing needs for inference, and this appears to have given DOCN an ability to reap the rewards even in the face of historic investment from the ...
Tim Robberts/DigitalVision via Getty Images DigitalOcean ( DOCN ) has become an AI winner. The stock has delivered incredible results, and management is projecting the company to see growth more than double by next year. Agentic AI will require greater computing needs for inference, and this appears to have given DOCN an ability to reap the rewards even in the face of historic investment from the hyperscalers. The current valuation might look highly buyable at first glance, but I remain of the view that investors may be underestimating the long-term valuation pressure from having to compete with the hyperscalers. I have definitely been wrong, but I reiterate my "N eutral" rating. DOCN Stock Price I last covered DOCN in February , where I recommended avoiding the stock due to what I viewed to be a poor risk-reward. That was very incorrect, as the stock has proceeded to soar 168% since. Data by YCharts There is great optimism for AI stocks as of late, but that very optimism is reason for caution. DOCN Stock Key Metrics I view DOCN as one of the only pure-play cloud computing stocks in the market today. Investors have long treasured the cloud arms such as Amazon Web Services ( AMZN ) and Azure ( MSFT ), but the hyperscalers have more diversified business models. DOCN offers investors an unbridled way to invest in the AI opportunity from the perspective of cloud providers. In the most recent quarter, DOCN generated $258 million in revenue, representing 22% YoY growth and beating guidance for up to $250 million in revenue. The company 's 41% adjusted EBITDA margin exceeded guidance of up to 37%. 2026 Q1 Presentation I had previously highlighted the risk that historic investment from the hyperscalers may lead to greater churn at DOCN given the latter 's inability to invest nearly as much. That was incorrect - the company has instead seen its larger customers spend more and more. 2026 Q1 Presentation DOCN has carved out a niche amidst the booming AI trade: inference. Where...