French publication Le Monde says Laure Ferrari ‘dodged’ question when quizzed over property purchase in Clacton Nigel Farage’s partner, Laure Ferrari, has refused to confirm how she paid for a house in the Reform leader and MP’s constituency of Clacton, adding “there’s more than one way to pay for a house”. In an interview with French publication Le Monde , Ferrari was questioned over revelations ...
French publication Le Monde says Laure Ferrari ‘dodged’ question when quizzed over property purchase in Clacton Nigel Farage’s partner, Laure Ferrari, has refused to confirm how she paid for a house in the Reform leader and MP’s constituency of Clacton, adding “there’s more than one way to pay for a house”. In an interview with French publication Le Monde , Ferrari was questioned over revelations in the Guardian that she had purchased a house in her name in Clacton after Farage had claimed to be the buyer. Continue reading...
IvelinRadkov/iStock via Getty Images This article updates my review of February 2024 in light of current holdings and recent performance. FNDX strategy Schwab Fundamental U.S. Large Company Index ETF ( FNDX ) was launched on 08/15/2013 and tracks the RAFI Fundamental High Liquidity U.S. Large Index. FNDX has 738 holdings, a 30-day SEC yield of 1.55%, and a total expense ratio of 0.25%. Distributio...
IvelinRadkov/iStock via Getty Images This article updates my review of February 2024 in light of current holdings and recent performance. FNDX strategy Schwab Fundamental U.S. Large Company Index ETF ( FNDX ) was launched on 08/15/2013 and tracks the RAFI Fundamental High Liquidity U.S. Large Index. FNDX has 738 holdings, a 30-day SEC yield of 1.55%, and a total expense ratio of 0.25%. Distributions are paid quarterly. The fund switched indexes from the Russell RAFI US Large Company Index to the RAFI Fundamental High Liquidity US Large Index on 6/21/2024. Although the starting universe and liquidity threshold changed, FNDX was and still is a large-cap fund implementing the RAFI methodology , using the same selection and weighting process. Therefore, I consider that performance and risk data before June 2024 are relevant to assess the current version of the fund. As described in the prospectus by Charles Schwab Asset Management , the underlying index ranks, selects, and weights stocks based on fundamental measures of company size: adjusted sales, retained operating cash flow, total return of capital (dividends and buybacks), and book value. Each eligible stock receives a score based on these metrics and a weight based on its percentage in the aggregate score. The top 87.5% of companies by cumulative score are included in the index. The index is partially reconstituted in four segments on a quarterly basis, resulting in an annual full reconstitution. The fund’s portfolio turnover rate was 10% in the most recent fiscal year. This article will use as a benchmark the Russell 1000 Index, represented by iShares Russell 1000 ETF ( IWB ). FNDX portfolio The portfolio is almost exclusively invested in U.S. companies (over 99% of asset value), with about 62% in large and mega caps, 29% in mid-caps, and 9% in small caps. Compared to the Russell 1000, FNDX greatly downplays technology, offering a more balanced sector allocation, as plotted below. No sector weighs more than 16%, ...
ALK-Abelló A/S press release ( AKBLF ): Q1 revenue increased by 18% Y/Y to DKK 1,771M on double-digit growth across regions and products. Revenue is now expected to grow by 13-16% (previously 11-15% growth). The EBIT margin is now expected at around 26% (previously 25%). ALK’s long-term financial ambitions remain unchanged. More on ALK-Abelló A/S ALK-Abelló A/S (AKBLF) Q1 2026 Earnings Call Transc...
ALK-Abelló A/S press release ( AKBLF ): Q1 revenue increased by 18% Y/Y to DKK 1,771M on double-digit growth across regions and products. Revenue is now expected to grow by 13-16% (previously 11-15% growth). The EBIT margin is now expected at around 26% (previously 25%). ALK’s long-term financial ambitions remain unchanged. More on ALK-Abelló A/S ALK-Abelló A/S (AKBLF) Q1 2026 Earnings Call Transcript ALK-Abelló A/S (AKBLF) Shareholder/Analyst Call Transcript ALK-Abelló A/S 2025 Q4 - Results - Earnings Call Presentation Historical earnings data for ALK-Abelló A/S Dividend scorecard for ALK-Abelló A/S
cokada/iStock via Getty Images Introduction The iShares MSCI Brazil ETF ( EWZ ) tracks the MSCI Brazil 25/50 Index. It is designed to provide concentrated exposure to the largest Latin American equity market. Brazilian stocks currently trade at a forward P/E near 9.6x against a backdrop that is becoming more and more attractive. The backdrop I am going to be talking about here is one of disinflati...
cokada/iStock via Getty Images Introduction The iShares MSCI Brazil ETF ( EWZ ) tracks the MSCI Brazil 25/50 Index. It is designed to provide concentrated exposure to the largest Latin American equity market. Brazilian stocks currently trade at a forward P/E near 9.6x against a backdrop that is becoming more and more attractive. The backdrop I am going to be talking about here is one of disinflation, a falling policy rate, a strengthening BRL, and last but certainly not least, the October 2026 election that markets are increasingly pricing as a potential reform catalyst. The setup is asymmetric one for investors, and those who choose to proceed will be paid a 4% yield to wait while three independent catalysts develop. I rate EWZ a buy as I closely monitor these developments. Country Investment Thesis The case for Brazilian equities right now rests on a few converging forces, each capable of moving the index independently. First, and most importantly, the monetary cycle has turned. COPOM, the Brazilian Central Bank, cut the Selic rate to 14.50% just last week , following another 25bps cut earlier this year. This has marked the beginning an easing cycle that markets had anticipated for over a year and maybe longer. BBVA expects the Selic to end 2026 around 11.50% , which would imply another 300 basis points of cuts. This is the base case, and we could see a wide range of scenarios here, but it seems clear that there will be additional cuts coming. Brazilian equities have historically delivered their strongest returns in the early stages of cutting cycles, when valuation multiples expand against a backdrop of still-attractive real yields. Global X ETFs report highlighted the fact that through the previous seven completed easing cycles, the MSCI Brazil Index rose in four, with those rallies delivering an average cumulative upside of about 96.7% As it stands right now, the current real interest rate holds near 10.7%, which is among the highest in the world. Even with the...
Hachette, Macmillan and others allege that Meta pirated millions of works from textbooks to novels for Llama model Five major publishers sued Meta Platforms in Manhattan federal court on Tuesday, alleging that the tech giant misused their books and journal articles to train its artificial intelligence models. Elsevier, Cengage, Hachette, Macmillan and McGraw Hill, as well as author Scott Turow, al...
Hachette, Macmillan and others allege that Meta pirated millions of works from textbooks to novels for Llama model Five major publishers sued Meta Platforms in Manhattan federal court on Tuesday, alleging that the tech giant misused their books and journal articles to train its artificial intelligence models. Elsevier, Cengage, Hachette, Macmillan and McGraw Hill, as well as author Scott Turow, alleged in the proposed class-action complaint that Meta pirated millions of their works and used them without permission to train its Llama large language models to respond to human prompts. Continue reading...
President Trump is reportedly pressuring Food and Drug Administration Commissioner Marty Makary to move faster to approve flavored vapes and nicotine products, sources told The Wall Street Journal. While the flavored vape issue is important with younger MAGA supporters and was a 2024 campaign promise, Makary has expressed concerns about approving fruit flavors or others potentially appealing to ch...
President Trump is reportedly pressuring Food and Drug Administration Commissioner Marty Makary to move faster to approve flavored vapes and nicotine products, sources told The Wall Street Journal. While the flavored vape issue is important with younger MAGA supporters and was a 2024 campaign promise, Makary has expressed concerns about approving fruit flavors or others potentially appealing to children because he is worried about the public health risks. It is possible that the FDA will only approve flavors like mint, coffee, tea, and spices that it views as more adult-oriented. Over the weekend, Makary and Trump discussed the FDA commissioner changing course on flavored vapes, although it is not clear if a final decision was made. If flavored vapes are approved, the main tobacco companies most likely to benefit are British American Tobacco ( BTI ) through R.J. Reynolds' Vuse line, Altria ( MO ) through NJOY and its stake in Juul, and Philip Morris International ( PM ) if its U.S. nicotine alternatives gain broader flavored access. More on vaping-related stocks Philip Morris: Room To Run Toward Fair Value Altria: Inflation Is A Double-Edged Sword, But The Dividend Train Keeps Smoking Altria Group, Inc. (MO) Q1 2026 Earnings Call Transcript Earnings scoreboard: 11 of 12 consumer staple names beat earnings estimates this week Altria projects 2026 adjusted diluted EPS of $5.56 to $5.72 while signaling more balanced first-half/second-half growth
Apple is exploring using Intel and Samsung to produce chips for devices in the US — as a backup to longtime partner TSMC. Peter Elstrom explains. (Source: Bloomberg)
Apple is exploring using Intel and Samsung to produce chips for devices in the US — as a backup to longtime partner TSMC. Peter Elstrom explains. (Source: Bloomberg)
Marine biologists step up criticism of privately funded operation to release stranded humpback whale off Germany’s Baltic Coast Marine biologists and whale experts have stepped up their criticism of a privately funded operation to release a humpback whale that was stranded for weeks off Germany’s Baltic Coast after it emerged that a tracker fitted to the whale was not working. The whereabouts and ...
Marine biologists step up criticism of privately funded operation to release stranded humpback whale off Germany’s Baltic Coast Marine biologists and whale experts have stepped up their criticism of a privately funded operation to release a humpback whale that was stranded for weeks off Germany’s Baltic Coast after it emerged that a tracker fitted to the whale was not working. The whereabouts and health of the young male whale – nicknamed Timmy after one of the sandbanks that it was stranded on – remain unknown three days after it was transported in a water-holding barge pulled by a tugboat to waters off the coast of Denmark. Continue reading...
Bruno Fernandes will earn around £250,000 a week Majority of squad will benefit from return to Champions League Manchester United’s qualification for the Champions League means a 25% rise in salary for most of the squad. While not all players who will be paid more will receive the 25% increase, the majority will. Bruno Fernandes, the club’s highest paid player, will earn around £250,000 a week wit...
Bruno Fernandes will earn around £250,000 a week Majority of squad will benefit from return to Champions League Manchester United’s qualification for the Champions League means a 25% rise in salary for most of the squad. While not all players who will be paid more will receive the 25% increase, the majority will. Bruno Fernandes, the club’s highest paid player, will earn around £250,000 a week with the increase. Kobbie Mainoo signed a new five-year contract worth around £120,000-a-week last week, while Harry Maguire also recently agreed a new one-year contract. Both players’ deals are thought to be incentivised in regards to their involvement in next season’s Champions League. It is unclear which United players are to miss out completely, though it is understood to relate to individual clauses in contracts. Continue reading...
Elmos Semiconductor press release ( ELTTF ): Q1 sales reached 152.5M Euro (Q1 2025: 126.9M Euro). In addition to higher sales and the success of cost optimization and efficiency programs on the one hand, Q1 results were also influenced by cost increases for materials and supplier services. The company now expects sales growth of 12% ± 2 percentage points (previously: 11% ± 3 percentage points). Mo...
Elmos Semiconductor press release ( ELTTF ): Q1 sales reached 152.5M Euro (Q1 2025: 126.9M Euro). In addition to higher sales and the success of cost optimization and efficiency programs on the one hand, Q1 results were also influenced by cost increases for materials and supplier services. The company now expects sales growth of 12% ± 2 percentage points (previously: 11% ± 3 percentage points). More on Elmos Semiconductor Elmos Semiconductor SE (ELTTF) Q1 2026 Earnings Call Transcript Elmos Semiconductor SE 2026 Q1 - Results - Earnings Call Presentation Elmos Semiconductor SE (ELTTF) Analyst/Investor Day Transcript Historical earnings data for Elmos Semiconductor Dividend scorecard for Elmos Semiconductor
Tesla's aim to roll out its supervised "full self-driving" software in Europe got a boost from Belgium on Tuesday, where the Flanders region said it was looking into whether it can quickly adopt it following approval in the Netherlands. The Netherlands' regulator provisionally approved the use of the software on Dutch roads last month, making it the first country in the EU to allow the software...
Tesla's aim to roll out its supervised "full self-driving" software in Europe got a boost from Belgium on Tuesday, where the Flanders region said it was looking into whether it can quickly adopt it following approval in the Netherlands. The Netherlands' regulator provisionally approved the use of the software on Dutch roads last month, making it the first country in the EU to allow the software, which can control a car but requires drivers to pay attention. Annick De Ridder, the transport minister for Flanders, the mainly Dutch-speaking half of Belgium which borders the Netherlands, said in a post on X that she had asked Tesla to provide documents so as to possibly follow suit in her region.
Earnings Call Insights: Diamondback Energy (FANG) Q1 2026 Management View "As with the last few years, we're going to go straight into Q&A." (CEO & Director Kaes Van't Hof) "[We are] the operator with the best inventory quality and depth in North America being executed at the best cost structure" and management framed the activity increase as both macro- and company-driven: "We're 2 months into th...
Earnings Call Insights: Diamondback Energy (FANG) Q1 2026 Management View "As with the last few years, we're going to go straight into Q&A." (CEO & Director Kaes Van't Hof) "[We are] the operator with the best inventory quality and depth in North America being executed at the best cost structure" and management framed the activity increase as both macro- and company-driven: "We're 2 months into the world's largest oil supply disruption in history" and "global inventories are starting to decline very rapidly." (CEO & Director Van't Hof) "We were going to run somewhere between 4 and 5 frac crews... And so we're just bringing that crew back and going to run the 5 crews essentially consistently" and "add the 2 to 3 rigs." (CEO & Director Van't Hof) "We bought back 42 million shares for $6 billion to date at $148 a share" and management said it wants "the flexibility to make more cyclical moves versus moves within a 90-day window within a quarter," including potentially "use kind of excess free cash flow over the next couple of quarters to pay down debt." (CEO & Director Van't Hof) "Post the Endeavor merger... we started trading a lot of ideas" and described drivers behind Q1 outperformance as completion changes and base optimization, including "perforating strategies, rate design and sand loadings" plus production actions like "acid jobs, the chlorine dioxide jobs, the surfactant jobs" and "layered on machine learning... working towards implementing AI into our field operations" to reduce downtime. (Executive VP & COO Daniel Wesson) "We... have about 300,000 barrels a day going down to Corpus on EPIC and Gray Oak" and "about another 100,000 a day going down Wink to Webster" as part of a crude marketing strategy to access coastal pricing; management added, "the next trend is to improve that on the gas side." (CEO & Director Van't Hof) "We've talked previously about hitting that $10 billion net debt figure sometime in the next 12 to 18 months" but "it looks like we'll be ...
Earnings Call Insights: Shopify (SHOP) Q1 2026 Management View Shopify reported Q1 scale and cash generation, with President Harley Finkelstein saying, "Q1 GMV was $101 billion, that is up 35%." He also stated, "Our revenue was $3.2 billion for the quarter, that is up 34%. And our free cash flow was $476 million, delivering a 15% free cash flow margin." Finkelstein framed AI as central to product ...
Earnings Call Insights: Shopify (SHOP) Q1 2026 Management View Shopify reported Q1 scale and cash generation, with President Harley Finkelstein saying, "Q1 GMV was $101 billion, that is up 35%." He also stated, "Our revenue was $3.2 billion for the quarter, that is up 34%. And our free cash flow was $476 million, delivering a 15% free cash flow margin." Finkelstein framed AI as central to product velocity and merchant outcomes, stating, "In 2026, AI is now Shopify's native language." He highlighted adoption metrics for Sidekick, including that weekly active shops using it were up 4x year-over-year, with "over 12,000 custom apps created in Q1 alone using Sidekick." Management emphasized AI-driven demand creation and new commerce surfaces, with Finkelstein saying, "We are the only platform that enables discovery and selling inside ChatGPT, Copilot and Google, all from one single system of record." He added that in Q1, "AI-driven traffic to Shopify stores has grown 8x year-over-year, while orders from AI-powered searches have increased nearly 13x." Finkelstein tied Shopify’s structured catalog to conversion, noting, "we've structured more than 1 billion products with clean attributes, real-time pricing and accurate inventory," and said "Traffic from catalog-powered AI searches converts 2x more than traffic from general AI searches." CFO Jeff Hoffmeister described cohort durability and mix, stating, "in Q1, almost 90% of our revenue was from merchants who had been on the platform for more than a year," and added, "Europe maintained its momentum with European GMV up 48% or 35% in constant currency." Outlook Shopify guided to Q2 revenue growth "in the high 20s year-over-year," with Chief Financial Officer Jeff Hoffmeister adding that Q2 assumes "approximately 0.5 point of FX tailwinds" versus "more than 2 points" in Q1. Hoffmeister guided that Q2 gross profit dollars are expected to grow "in the mid-20s" and that Q2 operating expenses are expected to be "35% to 36% of rev...
(RTTNews) - Insurance giant AXA (AXAHY.PK, CS.PA, AXA.DE) on Tuesday reported first-quarter gross written premiums and other revenues of 38.0 billion euros, up 3% from 37.0 billion euros in the prior-year period, driven by growth across Life & Health and Property & Casualty segme
(RTTNews) - Insurance giant AXA (AXAHY.PK, CS.PA, AXA.DE) on Tuesday reported first-quarter gross written premiums and other revenues of 38.0 billion euros, up 3% from 37.0 billion euros in the prior-year period, driven by growth across Life & Health and Property & Casualty segme
Iceye , the Finnish satellite startup tapping into increased defense spending in Europe, is in talks to raise €250 million ($293 million) in a round that may nearly double its previous valuation, according to people familiar with the matter. A new fundraising round could value Iceye at roughly €5 billion or more, the people said. Some people touted the prospect of a significantly higher figure, su...
Iceye , the Finnish satellite startup tapping into increased defense spending in Europe, is in talks to raise €250 million ($293 million) in a round that may nearly double its previous valuation, according to people familiar with the matter. A new fundraising round could value Iceye at roughly €5 billion or more, the people said. Some people touted the prospect of a significantly higher figure, suggesting an unusually wide range of possibilities given the industry’s fast growth. The terms of the fundraising round haven’t been finalized and may still change, they said. A representative for the company declined to comment. Iceye, founded in 2014 to monitor environmental changes, has become a critical tool following Russia’s invasion of Ukraine for militaries seeking images through clouds, darkness and smoke. It last raised funds at a €2.4 billion valuation in December. Chief Executive Officer Rafal Modrzewski is accelerating satellite production, and said the company will soon produce 100 a year. The German government as well as defense forces in Finland, Sweden, Poland, Portugal, Greece and the Netherlands have struck deals with the company. Iceye says it has a €1.5 billion backlog and expects to roughly double revenue this year to more than €500 million. Chief Financial Officer Magdalena Bartos said in a March interview that the company’s improved profitability, cash flow and contract visibility should support a “significant step up” in valuation compared to the December round. Read More: Satellite Firm Iceye Targets €1 Billion Revenue Next Year Iceye has a constellation of about 64 satellites orbiting the earth every 90 minutes. It’s planning to send more than 25 more into space this year. It has previously raised funds from BlackRock , OTB Ventures , Seraphim Space Investment Trust , and public entities including European investment bank and Solidium Oy .
Everton recognise ‘swift response’ by supporters Marc Guéhi was also subjected to racist abuse online A 71-year-old man was arrested on suspicion of racially abusing Antoine Semenyo of Manchester City during their 3-3 draw at Everton on Monday, when his teammate Marc Guéhi was subjected to racist abuse online. Merseyside police arrested the man after supporters and stewards reported the incident a...
Everton recognise ‘swift response’ by supporters Marc Guéhi was also subjected to racist abuse online A 71-year-old man was arrested on suspicion of racially abusing Antoine Semenyo of Manchester City during their 3-3 draw at Everton on Monday, when his teammate Marc Guéhi was subjected to racist abuse online. Merseyside police arrested the man after supporters and stewards reported the incident at Hill Dickinson Stadium. He has been bailed with conditions, including restrictions preventing him from going within one mile of any designated sports stadium for a period of up to four hours before kick-off, during matches and up to four hours after the final whistle. Continue reading...
The Justice Department is taking a new tack to overcome hurdles in attracting qualified legal talent and to prevent current lawyers from leaving: offering signing and retention bonuses throughout the Civil Division. New vacancy postings show signing bonuses of $25,000 are newly available to staff offices investigating youth transgender treatments and litigating the Trump administration’s immigrati...
The Justice Department is taking a new tack to overcome hurdles in attracting qualified legal talent and to prevent current lawyers from leaving: offering signing and retention bonuses throughout the Civil Division. New vacancy postings show signing bonuses of $25,000 are newly available to staff offices investigating youth transgender treatments and litigating the Trump administration’s immigration agenda. Further, the head of the Civil Division—which plays a crucial role advancing and protecting the president’s policies in court—informed all his attorneys Monday that they’ll begin receiving a “retention incentive allowance” ranging from around $60 to $220 every pay period through Thanksgiving, according to an internal email reviewed by Bloomberg Law. Listen to the season trailer The financial enticements are an apparent first for a department that in previous years would be inundated with resumes from lawyers willing to take significant salary reductions compared to private sector legal practice. Padding lawyers’ biweekly paychecks signals a division growing more desperate to stave off further departures of valuable legal minds, including those who’ve expressed discomfort with defending the president’s policies from a slew of lawsuits. Trial attorney vacancies posted on DOJ’s website Tuesday for the Civil Division’s recently created enforcement and affirmative litigation branch describe in bold print “a signing bonus of up to $25,000\ repeatedly losing in court over efforts to subpoena pediatric hospitals for sensitive data on minors prescribed drugs for gender dysphoria, instruct applicants that time is of the essence. “Applicants are strongly encouraged to submit their completed application as soon as possible,” as the financial incentives are “contingent upon the availability of funding,” states one of the two Civil Division vacancy postings —both of which offer the signing bonus. A separate civil section focused on immigration litigation, which has been managi...