Tedros Adhanom Ghebreyesus praises Spain’s ‘compassion and solidarity’ in evacuating virus-hit cruise ship The head of the World Health Organization has warned countries to prepare for more hantavirus cases after the outbreak onboard the MV Hondius, and thanked Spain for the “compassion and solidarity” it had shown by taking in the stricken cruise ship and evacuating its passengers and crew. Tedro...
Tedros Adhanom Ghebreyesus praises Spain’s ‘compassion and solidarity’ in evacuating virus-hit cruise ship The head of the World Health Organization has warned countries to prepare for more hantavirus cases after the outbreak onboard the MV Hondius, and thanked Spain for the “compassion and solidarity” it had shown by taking in the stricken cruise ship and evacuating its passengers and crew. Tedros Adhanom Ghebreyesus urged countries to follow the WHO’s advice and recommendations, which include a 42-day quarantine and constant monitoring of high-risk contacts. Continue reading...
Getty Images Introduction Costco ( COST ) keeps being a core holding of my portfolio, although I have not been touching this position since 2023. With over 20 articles on the company, it is one of the stocks I follow the most, although it is the one I trade the least. This is because Costco's business model is intellectually stimulating to understand. Once we realize how the company is built, the ...
Getty Images Introduction Costco ( COST ) keeps being a core holding of my portfolio, although I have not been touching this position since 2023. With over 20 articles on the company, it is one of the stocks I follow the most, although it is the one I trade the least. This is because Costco's business model is intellectually stimulating to understand. Once we realize how the company is built, the direct consequence is that we start a position and never look back, letting it do its job over the course of two or three decades. In this case, I have a simple criterion to buy this stock, which is often richly valued by the market: I bought some shares for each of my kids when they were born, and I will buy more if new kids are part of my family. Of course, there is always the possibility of buying the stock during a dip. But it rarely dips in real value territory; actually, Costco often does well during market fears, as I have often pointed out since my coverage initiation. Costco's Predictability One of the best assets Costco has is its predictability, which is also strengthened by the fact that the company releases a monthly sales report. As a result, we basically know in advance what each quarterly report could look like. In March, Costco reported net sales of $28.41B, an 11.3% YoY increase. In April, Costco reported strong sales of $23.92B, a 13% YoY increase, which included a 2% boost from Easter. Comparable sales in March were up 9.4%, while in April they rose by 11.6%. At the end of April, the 35-week revenue figure is $197.18B, a 9.5% YoY increase. We also need to mention that digital sales are up 21.6% YoY. When we adjust for Easter, we see that the average growth between the two months is above 9%. There are three main metrics that Costco's shareholders need to watch. First of all, Costco's results are a direct function of its membership renewal rate. As of Q2 FY26, the U.S. renewal rate was 92.1%. Recently, Jeff Marks said on CNBC that as the digital channel g...
Yum China Holdings ( YUMC ) has entered into share repurchase agreements in the U.S. and Hong Kong for an aggregate repurchase amount of ~$512M for the second half of 2026, commencing on July 1, 2026. The share repurchase agreements include ~$384M under the Rule 10b5-1 of the United States Securities Exchange Act of 1934 in the U.S. and approximately HK$1B for a similar program in Hong Kong, the c...
Yum China Holdings ( YUMC ) has entered into share repurchase agreements in the U.S. and Hong Kong for an aggregate repurchase amount of ~$512M for the second half of 2026, commencing on July 1, 2026. The share repurchase agreements include ~$384M under the Rule 10b5-1 of the United States Securities Exchange Act of 1934 in the U.S. and approximately HK$1B for a similar program in Hong Kong, the company said . These agreements are in addition to the share repurchase agreements for the first half of 2026. Yum China Holdings ( YUMC ) remains on track to return $1.5B to shareholders in 2026, including approximately $400M in dividends and $1.1B in share repurchases, through a mix of systematic and discretionary buybacks. Beginning in 2027, Yum China intends to return approximately 100% of annual free cash flow after subsidiaries' dividend payments to non-controlling interests. This is anticipated to translate into an average annual return of approximately $900M to over $1B in 2027 and 2028 and to exceed $1B in 2028. More on Yum China Yum China: High-Quality Operator In The QSR Space Yum China: Beating Consensus And Outpacing The Roadmap Yum China Holdings, Inc. (YUMC) Q1 2026 Earnings Call Transcript Yum China outlines $1.5B 2026 shareholder returns while targeting 20,000 stores Yum China beats top-line and bottom-line estimates; reaffirms FY26 outlook
No thank you, we’re good. | Photo by Brandon Bell/Getty Images eBay has officially rejected GameStop's offer to buy the online marketplace for $56 billion, citing concerns around "operational risks" and how the acquisition will be financed. In a letter to GameStop CEO Ryan Cohen on Tuesday, eBay's board of directors said it has "concluded that your proposal is neither credible nor attractive." "We...
No thank you, we’re good. | Photo by Brandon Bell/Getty Images eBay has officially rejected GameStop's offer to buy the online marketplace for $56 billion, citing concerns around "operational risks" and how the acquisition will be financed. In a letter to GameStop CEO Ryan Cohen on Tuesday, eBay's board of directors said it has "concluded that your proposal is neither credible nor attractive." "We have taken into account such factors as 1) eBay's standalone prospects, 2) the uncertainty regarding your financing proposal, 3) the impact of your proposal on eBay's long-term growth and profitability, 4) the leverage, operational risks, and leadership structure of a combined entity, 5) the resulting implic … Read the full story at The Verge.
Getty Images By Michiel Tukker , Senior UK & Eurozone Rates Strategist Global factors add to GBP term premium, but not entire story The 10Y gilt yield has hit its highest level since 2008, and whilst the near-term focus remains on oil prices and politics, the Bank of England’s balance sheet unwind poses further upside risk. And with the discussion about quantitative tightening (QT) flaring up agai...
Getty Images By Michiel Tukker , Senior UK & Eurozone Rates Strategist Global factors add to GBP term premium, but not entire story The 10Y gilt yield has hit its highest level since 2008, and whilst the near-term focus remains on oil prices and politics, the Bank of England’s balance sheet unwind poses further upside risk. And with the discussion about quantitative tightening (QT) flaring up again in the US under new Fed leadership, markets can learn from the potential impact on US rates by looking at the UK. Sterling rates are relatively sensitive to global market moves, and the spillovers from the US term premium play an especially important role. Between 2023 and today, the correlation of weekly changes in the 2s10s of the GBP curve and the US curve has been a significant 0.6. If we take the 2s10s term spread as a rough proxy of the term premium, both seem to be similar at first sight. The market optimism in US equity markets helps the US curve steepen again and also adds to the upward pressure on gilt yields. Japan’s curve shows a very different picture, and therefore, we cannot simply assume a single global factor explains all term premia. For one, Japan’s economy has followed a very different path compared to other countries, experiencing stagflation for prolonged periods of time. Second, and of more importance to our analysis, is the fact that the Bank of Japan has intervened significantly more in the rates market through balance sheet policy than other central banks. Global term premia are strongly correlated, but domestic factors play a role too (Source: ING estimates, Macrobond) Besides a global factor, the term spread is also driven by the business cycle. When a central bank hikes rates, curves tend to flatten, and vice versa. These moves seem more pronounced than purely explained by changes in the expected policy rates. As such, the 2Y rate is arguably an important ingredient for the term premium. And indeed, when looking over the past decade, the 2Y an...
"Neither Credible Nor Attractive": eBay Rejects GameStop's Takeover Bid eBay's board released a statement on Tuesday morning, rejecting GameStop CEO Ryan Cohen's unsolicited, non-binding acquisition proposal, calling it "neither credible nor attractive." " We have concluded that your proposal is neither credible nor attractive ," Paul S. Pressler, eBay's chairman of the board of directors, wrote i...
"Neither Credible Nor Attractive": eBay Rejects GameStop's Takeover Bid eBay's board released a statement on Tuesday morning, rejecting GameStop CEO Ryan Cohen's unsolicited, non-binding acquisition proposal, calling it "neither credible nor attractive." " We have concluded that your proposal is neither credible nor attractive ," Paul S. Pressler, eBay's chairman of the board of directors, wrote in a statement. Pressler cited concerns over GameStop's financing, the risks of a combined business, leadership and governance questions, and the potential impact on eBay's valuation and long-term growth. Pressler laid out the concerns : eBay's standalone prospects, the uncertainty regarding your financing proposal, the impact of your proposal on eBay's long-term growth and profitability, the leverage, operational risks, and leadership structure of a combined entity, the resulting implications of these factors on valuation, and GameStop's governance and executive incentives. Recall that Cohen's $56 billion bid for eBay was, in his own words, funded by "half cash and half stock." Yet, when Cohen joined CNBC's Andrew Sorkin for an interview early last week, he struggled to explain the deal math , given that GameStop's market capitalization is only a fraction of eBay's. Here's the most contentious part of Ryan Cohen's CNBC Squawk Box interview about the GameStop-EBAY acquisition. This is a HEATED back and forth, uncommon for financial news. $GME Sorkin, at one point is in disbelief at RC's repetitive answering to his question. pic.twitter.com/MWAbYWStlp — Reese Politics (@ReesePolitics) May 4, 2026 Even Michael Burry exited his GameStop long position, saying the $56 billion cash-and-stock acquisition would likely require too much debt and would no longer align with his original thesis for the stock. Burry wrote on X: "Wall Street does indeed mistake debt for creativity, and does so constantly. I, of all people, should have known." Why yes they did: "GameStop's Highly Confident ...
CGI ( GIB ) named Tim Hurlebaus as President and CEO and a member of the Board of Directors, effective immediately. Hurlebaus previously served as president and COO for the past two years, overseeing operations across the U.S., U.K., and Australia, which together account for nearly half of CGI’s ( GIB ) annual revenue. Mr. Hurlebaus succeeds François Boulanger who will be retiring after 30 years a...
CGI ( GIB ) named Tim Hurlebaus as President and CEO and a member of the Board of Directors, effective immediately. Hurlebaus previously served as president and COO for the past two years, overseeing operations across the U.S., U.K., and Australia, which together account for nearly half of CGI’s ( GIB ) annual revenue. Mr. Hurlebaus succeeds François Boulanger who will be retiring after 30 years at CGI. More on CGI CGI Inc. (GIB.A:CA) Q2 2026 Earnings Call Transcript CGI Inc. 2026 Q2 - Results - Earnings Call Presentation CGI Inc.: A 'Show Me' Story With Asymmetric Setup CGI and Caisse Alliance sign 10-year deal to upgrade digital banking Historical earnings data for CGI
Trump’s China summit threatens the AI boom, Ford gets into the energy storage business, Hims & Hers posts a surprise loss, and more news to start your day.
Trump’s China summit threatens the AI boom, Ford gets into the energy storage business, Hims & Hers posts a surprise loss, and more news to start your day.
British Prime Minister Keir Starmer defied calls to resign on Tuesday, telling ministers he would “get on with governing” despite a “destabilising” 48 hours of growing calls to set out a timetable for his departure after a drubbing in local elections. At a meeting of his cabinet, Starmer, in the top job for less than two years, repeated that, while he took responsibility for one of his Labour Par...
British Prime Minister Keir Starmer defied calls to resign on Tuesday, telling ministers he would “get on with governing” despite a “destabilising” 48 hours of growing calls to set out a timetable for his departure after a drubbing in local elections. At a meeting of his cabinet, Starmer, in the top job for less than two years, repeated that, while he took responsibility for one of his Labour Party’s worst election defeats, there had been no official move to trigger a leadership contest. Four...
The UK approved more early construction funding for power -grid projects, as part of efforts to boost renewables generation and secure equipment amid supply-chain snarls and competition from other nations. Energy regulator Ofgem granted such funding for power lines and upgrades at some transmission projects in Scotland, taking the number approved in its fast-track grid pipeline to 26, it said in a...
The UK approved more early construction funding for power -grid projects, as part of efforts to boost renewables generation and secure equipment amid supply-chain snarls and competition from other nations. Energy regulator Ofgem granted such funding for power lines and upgrades at some transmission projects in Scotland, taking the number approved in its fast-track grid pipeline to 26, it said in a statement Tuesday. That allows companies to get a head start in locking in things like heavy duty cables and substation equipment, where global bottlenecks have threatened timelines. Delays in securing components could hurt the push for more wind and solar output. Tackling the grid queue has been a cornerstone of Energy Secretary Ed Miliband ’s drive for a fully clean power system by 2030, with planned green projects at risk if upgrades and connections fail to keep pace. Supply-chain disruptions and rising costs have also been worries in recent years. “Early funding helps transmission operators secure scarce components, avoid supply-chain delays, and deliver the grid upgrades needed to power homes and businesses with more clean, homegrown energy,” Beatrice Filkin, Ofgem’s director of major projects, said in the statement. The government is also under pressure over energy bills after pledging to cut costs for consumers by transforming the energy system.
Shareholders of The Swatch Group AG rejected US activist investor Steven Wood ’s push for a seat on the watchmaker’s board of directors for a second time, reinforcing the controlling Hayek family’s hold on the company. The effort by the founder of US-based Greenwood Investors, who had argued that change is needed to turn the company’s fortunes around and loosen the family’s grip, was defeated at S...
Shareholders of The Swatch Group AG rejected US activist investor Steven Wood ’s push for a seat on the watchmaker’s board of directors for a second time, reinforcing the controlling Hayek family’s hold on the company. The effort by the founder of US-based Greenwood Investors, who had argued that change is needed to turn the company’s fortunes around and loosen the family’s grip, was defeated at Swatch’s annual general meeting on Tuesday with 79.6% of shareholders rejecting the proposal. Wood had first tried to acquire a seat at the AGM last year. The vote leaves intact the tight control on the company held by Chief Executive Officer Nick Hayek ’s family, which has blocked Wood with the 44% of voting rights and three board seats it holds. “There may be expectations that the whole thing will end up in the courts and ultimately there could be a change on the board and the strategic direction of the group,” said Kepler Cheuvreux analyst Jon Cox . The Biel, Switzerland-based watch group, which owns 16 brands including Omega, Blancpain and Longines has maintained that Wood’s American citizenship and his seat on Italian defense company Leonardo Spa ’s board prevent him from being an acceptable candidate. Chairwoman Nayla Hayek added the Swatch Group doesn’t see Wood as an appropriate representative of bearer shareholders given “he has no relation to Swiss industry, which is vital for a company like Swatch Group.” “His short-term investor interest is also not compatible with the values of the Swatch Group,” she said. Swatch also reiterated that Wood wasn’t a suitable representative of bearer shareholders since GreenWood Builders Fund IV has just 30,000 of such shares, or about 4% of its holding. The company had instead proposed Andreas Rickenbacher , a Swiss business economist, who is set to take over the seat from Jean-Pierre Roth , the current representative of bearer shareholders, who owns just 10 such shares. Wood got 80.4% support in the the bearer shareholder vote, c...
Palantir (NASDAQ:PLTR) just delivered one of the most impressive quarterly blowouts in its history, but it wasn’t quite enough to power a turnaround in the stock. Not with expectations as high as they were and broader fears surrounding what AI could do to some of the software plays out there, including ones that have already ... Alex Karp Claims Palantir’s Results ‘Dwarf’ Software History — Q1 Sho...
Palantir (NASDAQ:PLTR) just delivered one of the most impressive quarterly blowouts in its history, but it wasn’t quite enough to power a turnaround in the stock. Not with expectations as high as they were and broader fears surrounding what AI could do to some of the software plays out there, including ones that have already ... Alex Karp Claims Palantir’s Results ‘Dwarf’ Software History — Q1 Shows He Isn’t Exaggerating