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Business students navigate market ‘roller coaster’ to secure positive returns - News
Students in Money and Banking and Global Trade and Finance classes at the Lundy-Fetterman School of Business recently wrapped up… More on this post
DOJ expands Trump settlement to cover his tax audits
The DOJ's settlement of Trump's lawsuit related to his leaked tax returns includes a sweeping pledge.
Noel Rash returns to Beechwood football after Volker's departure
Jay Volker is departing Beechwood football after shutting down rumors of his departure. Noel Rash will lead the Tigers in 2026. Here's what we know.
Tuesday concerts returning to Millsboro’s Cupola Park
Summer nights can be a little more magical with live music. And, once again, the Town of Millsboro will welcome the public to relax and jam at their 2026 Tuesday-night
Evaluating Rueben Chinyelu's NBA draft decision after combine results
One of the biggest questions heading into the NBA draft is whether Florida basketball's starting center Rueben Chinyelu will return to school.
‘The Pitt’ star Noah Wyle to lead healthcare rally on Capitol Hill
Noah Wyle is taking on the real-life role of advocate — “The Pitt” star is making a return trip to Capitol Hill to lead a rally pushing for bipartisan legislation focused on healthcare …
Deutsche Bank Says Just Half of Business Earned Cost of Capital
Most of Deutsche Bank AG’s business activities still failed to earn their cost of capital last year, demonstrating the long struggle the German lender is facing in generating attractive shareholder returns.
Alive@Five returns for 22nd season along Carroll Creek
Downtown Frederick Partnership has launched the 22nd annual Alive@Five summer happy hour series, presented by ACNB Bank, featuring 21 weeks of live music along Carroll Creek Park.
Orlando Science Center’s Science Night Live returns with illusions and games
Orlando Science Center's adults-only Science Night Live event returns with optical illusions, board games, trivia, and more. Don't miss out!
Orlando Science Center’s Science Night Live returns with illusions and games
Orlando Science Center's adults-only Science Night Live event returns with optical illusions, board games, trivia, and more. Don't miss out!
Fortnite Returns to the App Store Worldwide as Epic Signals 'Final Battle' With Apple
Fortnite is back on the App Store in every country except Australia, Epic Games announced today, as the company declared it is entering the "final battle" of its long-running legal dispute with Apple. Epic said the decision to push Fortnite back onto iOS globally was prompted by Apple's own words to the U.S.
Apple announces return of popular MagSafe iPhone stand and grip
Apple today unveiled a suite of new accessibility features coming with iOS 27, visionOS 27, and more later this year....
"We see this as the beginning of the end of the Apple Tax worldwide" - Fortnite returns to the App Store globally as Epic prepares for "the final battle"
Epic gains the upper hand in its long-running battle with Apple over App Store costs. Fortnite returns to iOS worldwide (excl. Australia) as a result.
May Fair Draws Crowds for Four Days of Entertainment
The Dixon May Fair returned May 7-10 for its 149th rendition, bringing carnival rides, live music, livestock exhibitions and community traditions to Northern California’s oldest fair.
Braves eager to see Ronald Acuna Jr. hit against Marlins
Ronald Acuna Jr. will return to the Atlanta starting lineup on Tuesday when the visiting Braves play the Miami Marlins in the second game of a four-game series.
Starbucks layoffs prompt renewed concern about Seattle business climate
The return of a bookstore, in the heart of what was once a thriving retail and dining district, should be a cause for celebration.
Jacoby Brissett’s holdout is a strongly miscalculated risk
The NFL offseason has entered the OTA phase, and teams like the Arizona Cardinals will soon transition into minicamps before they know it. In just a few months, the preseason will usher in the return of professional football. The Cardinals,…
Game 48: Astros at Twins
After fracturing his ankle in batting practice, Carlos Correa does not make his big return, but he’ll be felt in spirit. We’ll have to settle for Christian Vazquez instead. Today was originally Simeon Woods Richardson’s turn through the rotation, but after a disastrous start to the season, manager Derek Shelton will go with rookie Kendry […]
What to know about Trump’s $1.8 billion taxpayer-fueled fund for his allies
The unprecedented lawsuit President Donald Trump brought against the Internal Revenue Service over the unauthorized disclosure of his tax returns years ago has led to an unprecedented arrangement that will make nearly $1.8 billion in taxpayer funds available to allies of the president who say they were unfairly investigated by the government in the past.
Whoa! Netflix is Sending Narnia Heading to Theaters...What This Means for the Future of Film
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) Here’s a funny thing about the debate over whether streamers should release their movies in theaters first: Both sides think the other side represents the “conventional wisdom”. If you’ve been reading me for any amount of time, or even just scanned my front page, you know I think movies make more money by having a robust theatrical window compared to going straight-to-streaming. I’ve published thousands of words on this topic. And for years, I felt like I was standing up to a wave of opposition. See, while the “put your films in theaters to make money” take was obvious at any point before 2019, post-streaming revolution, most of the trendy thinkers took the opposite point of view. Big names argued that Netflix putting their film straight-to-streaming (“S-to-S” from here on out) actually made more money. Netflix was “disrupting” theaters, just as they disrupted Blockbuster Video, and since innovation is always good, this too was a great idea. This thinking then leaked into the mainstream business outlets like the Wall Street Journal and Bloomberg. I read many articles whose take boiled down to “Netflix makes tons of money from S-to-S releases” and “theaters were in structural decline” anyways. Covid-19 shutting down theaters and the 2023 strikes shutting down film production seemingly justified this point of view, as the box office struggled to return to 2017-2019 heights. Yet I’ve also read folks arguing the opposite point: the conventional wisdom says to put films in theaters! From some writers’ points of view, “everyone” actually agrees/agreed with my “send your films to theaters” take—especially the stodgy traditional studios—and folks still didn’t understand Netflix’s genius. I feel like, for the last two years, many people have argued this point as if it’s conventional wisdom. You know what? I may have been wrong. At this point, the “S-to-S strategy makes money” might be the minority viewpoint. Especially with the news this month that Netflix will put at least one film—Greta Gerwig’s Narnia film The Magician’s Nephew—in theaters in 2027 for a full 49-day run is big news. So that’s the story of the week, but I’ll also explain why they’re making this move now and why Netflix may not completely embrace theaters, along with other topics, like how I don’t buy Disney’s “super app” strategy, the latest good news out of the unions, my take on the latest attacks against free speech, and a whole lot more. Let’s get started. Subscribe Most Important Story of the Week - Netflix Goes to Theaters! Listen, I promise not to victory lap too hard today. As I just wrote, I’ve argued against sending films straight-to-streaming for—checks calendar—eight years now. Since 2018. Yikes. That’s a long time. And for years, others painted my thinking as “conventional” in that I was standing up for the status quo against trendy, cool disruption. And that’s not cool! But math is math, and I never could make the S-to-S numbers work. The only thing that ever enabled that model was Wall Street’s brief exuberance for it. It seems like the heads of Netflix now agree with me. (There were always rumors that former head of film for Netflix Scott Stuber argued internally for theatrical releases as well.) As they announced: “The Magician’s Nephew_—the first film in a Narnia series of films—will open on 12-Feb-2027, with a 49 day theatrical exclusive run.”_ I’m a little surprised at how little coverage this big change actually got. Credit to Bloomberg for leading with it and Matt Belloni’s The Town for highlighting it with the provocatively titled podcast “Hell Hath Frozen Over”. But after that? Instead of getting as much coverage as, say, the FCC’s latest egregious crackdown on free speech, this news story got crickets. But it’s massively more important for the future business of entertainment. So let’s start with the obvious question… Why Put Your Movies in Theaters? So…why should Netflix put (some!) of their movies in theaters? Well, I’ve already written that in a very, very, very long article from 2022: [ ](https://entertainment.substack.com/p/the-data-is-in-theatrical-films-massively) [ The Data Is In: Theatrical Films Massively Outperform Straight-To-Streaming Films ](https://entertainment.substack.com/p/the-data-is-in-theatrical-films-massively) Entertainment Strategy Guy · April 5, 2023 [ Read full story ](https://entertainment.substack.com/p/the-data-is-in-theatrical-films-massively) To summarize, theatrical runs make much more money, especially blockbusters, because they earn more money per viewing,1 and that helps boost home entertainment sales. Theatrical films also perform as well or better than the streaming-only films. Now, partially this is driven by increased marketing for said films, but said marketing ultimately boosts the awareness of the movies and drives improved streaming and library performance as well. Again, I’ve made this case after reviewing the economic models and streaming data for years. Just last week, Emily Horgan also made the case for kids films! Yes, it is probably conventional wisdom, but that’s also because it’s true! I’d also argue we’ve seen a lot of data in the various studios’ behavior. As I’ve noted before, the more a studio needs to make money, the likelier they are to put films in theaters. As such, Disney, Universal, Warner Bros., Paramount and Sony all send their major films to theaters. Even if they once made a big S-to-S push (*cough* Disney *cough*), they’ve since relented and returned to theaters. The tech companies don’t need to make money, per se, so it took them years to embrace theaters. Apple doesn’t need to make money because it doesn’t disclose their (likely) Quibi-sized losses each year. (They fear bad press more than losing money.) Amazon announced two years ago that they planned to make Amazon-MGM Studios/Prime Video profitable on its own, and guess what? Now they’re putting films in theaters. That leaves Netflix. They’re in between the “no need to make money at all” and the “desperately need to make money to offset linear TV declines”, so they had less pressure to put some films in theaters. Plus, for years, they were the sexy disruptor, and Wall Street rewarded them for that. (Honestly, they still do.) Yet, even Netflix likely saw the money they were leaving on the table (I’ve estimated it at an easy billion dollars before) so they changed their course. I heard one pundit argue that, because Netflix already makes so much money, they don’t need to make more money, which sort of goes against everything I’ve ever learned about business and economics. Again, to be super-nuanced, sending “films to theaters” does not mean EVERY film. TV movies have been a thing for decades. Lifetime films, Hallmark holiday films, Disney Channel Original Movies, and so on, don’t need theatrical runs. But films above a certain budget level (say $25 to 50 million) almost certainly need theaters to maximize their revenue. The Scenarios (with a Dose of Skepticism) Now time for some skepticism: it won’t surprise me at all if Netflix re-changes course. Specifically, Netflix announced that their Narnia film will go to theaters. And I’d bet anything we see KPop Demon Hunters 2: The Huntering2 also goes to theaters, cause it’s the surest hit outside of a Disney animated sequel right now. But how much does Netflix truly commit to theaters? They’ve already tried to emphasize that this is a one-off move. I see three broad scenarios:
What ‘High Potential’s Midseason Move Could Mean for Wagner’s Fate
Javicia Leslie and Deniz Akdeniz share hopes for Steve Howey's return.
What ‘High Potential’s Midseason Move Could Mean for Wagner’s Fate
Javicia Leslie and Deniz Akdeniz share hopes for Steve Howey's return.
Jenks America Food Truck Festival returns with specialty foods and live entertainment
Foodies unite! The annual Jenks America Food Truck Festival is back this month with a wide selection of specialty foods.
409 Media Mixer returns Saturday with free networking, panels for entertainment pros
The most powerful climate phenomenon on record could hit the US in 2026, experts warn | BBC Science Focus Magazine
The world’s most powerful climate phenomenon El Niño is returning – and this time, it may be arriving in record-breaking form.
Slumping Austin FC fires coach, sporting director before World Cup break
Slumping Austin FC fired head coach Nico Estévez and sporting director Rodolfo Borrell on Monday as the team sits near the bottom of the MLS standings just one season after returning to the playoffs.
Three things to know about Aaron Rodgers' return to the Steelers, plus breaking down the 2026 NFL schedule
Here's everything you need to know about the NFL for May 18
🎥 “Salerno returns”: spine-tingling display, choreography’s viral 😍
Top-flight atmosphere at the Arechi Stadium for the Serie C playoff clash between Salernitana and Ravenna.Watch the full Serie BKT live on OneFootball for just €9.99 a month. Click here to buy the L...
Did ‘Family Guy’ Just Have Its Best Season in Years?
What happened in the finale, Season 24, and will it return?
Kin Health raises $9M to build an AI notetaker for patients
The app is similar to a meeting notetaker: you can record doctor visits, and it will return an AI summary of the meeting, with the next steps, all of which you share with family and friends if you want to.
Aaron Rodgers returns: Quarterback reunites with Mike McCarthy, signs with Steelers for 22nd season in NFL
New 'Lanterns' trailer reveals Laura Linney casting, Nathan Fillion's Guy Gardner return
New 'Lanterns' trailer reveals Laura Linney casting and a first look at Nathan Fillion's Guy Gardner return.
Tudor Dixon returns to Michigan politics with new PAC aimed at boosting Republicans in key battleground
Tudor Dixon announces her role leading United We Fund, a new multi-million dollar PAC aimed at boosting Republicans in battleground state Michigan.
Trump moves to dismiss $10 billion suit over leak of tax returns after reports of a resolution
The creation of a fund to pay allies of the president who believe they were wrongly investigated and prosecuted reflects Trump's long-running claims that the Biden administration Justice Department was weaponized against him.
A Look At AMC Entertainment (AMC) Valuation After Analyst Upgrade And Arena One Concert Launch
AMC Entertainment Holdings (AMC) is back in focus after an analyst upgrade linked to improving box office conditions, along with management comments on a lower revenue bar for free cash flow breakeven and the new Arena One at AMC concert format. See our latest analysis for AMC Entertainment Holdings. At a share price of $1.28, AMC has seen pressure recently, with the 7 day share price return down 9.22% and the 30 day share price return down 31.18%, while the 1 year total shareholder return is...
Trump moves to dismiss $10B suit over leak of tax returns
The disclosure was made in a filing in federal court in Florida, where the lawsuit was filed last year
Trump moves to dismiss $10B suit over leak of tax returns
The disclosure was made in a filing in federal court in Florida, where the lawsuit was filed last year
It's time for Pint of Science
This week is the return of Pint of Science in Urbana. This international festival connects renown scientists with curious local people at bars across the globe to discuss the latest scientific research. Pint of Science ...
The BMW M3 CS Returns With A Manual Gearbox Surprise
The three-pedal CS marks the end of the run for the current-generation M3.
Boston Scientific invests $1.5 billion in MiRus with option to buy heart-valve business
U.S. medical device maker Boston Scientific said on Monday it has invested $1.5 billion in privately held MiRus LLC in return for a 34% equity stake and potential access to the startup's heart-valve business.
Pop star Shakira is acquitted in a Spanish tax fraud case
A Spanish court acquitted Shakira in a tax fraud case, ordering the government to return more than $64 million in wrongly imposed fines.
Jose Mourinho: Real Madrid agree deal for ex-Man Utd boss to return as head coach on two-year deal
Pop star Shakira is acquitted in a Spanish tax fraud case
A Spanish court has acquitted Shakira of tax fraud and ordered the government to return over 55 million euros in fines and interest. The decision, seen Monday by The Associated
Evaluating Flutter Entertainment (NYSE:FLUT) After A Sharp Share Price Pullback
Recent performance snapshot for Flutter Entertainment (NYSE:FLUT) Flutter Entertainment (NYSE:FLUT) has drawn investor attention after a period of weaker share performance, with the stock down about 16% over the past month and roughly 25% over the past 3 months. See our latest analysis for Flutter Entertainment. The recent decline has been steep, with the share price down 57.68% year to date and the 1 year total shareholder return falling 62.95%. This points to fading momentum as investors...
A Look At Live Nation Entertainment (LYV) Valuation After Recent Share Price Momentum
What recent performance says about Live Nation Entertainment stock Live Nation Entertainment (LYV) has drawn fresh attention after a period of steady share price movement, with the stock up 7.9% over the past month and 6.7% over the past 3 months. For investors tracking momentum and business fundamentals, those returns sit alongside reported annual revenue of US$25.6b and a reported net loss of US$410.3m, highlighting a mix of scale and ongoing profitability challenges. See our latest...
Prolight + Sound Guangzhou 2026: the world's largest entertainment and professional AV fair returns on 28 May
/PRNewswire/ -- The 24th edition of Prolight + Sound Guangzhou (PLSG) is set to open on 28 May and will run until 31 May at Areas A and B of the China Import...
Prolight + Sound Guangzhou 2026: the world's largest entertainment and professional AV fair returns on 28 May
/PRNewswire/ -- The 24th edition of Prolight + Sound Guangzhou (PLSG) is set to open on 28 May and will run until 31 May at Areas A and B of the China Import...
Canadian national health agency confirms 1 positive hantavirus test
Canada's national health agency confirms that one of four Canadians returning from a cruise ship with a hantavirus outbreak has tested positive.
Canadian national health agency confirms 1 positive hantavirus test
Canada's national health agency confirms that one of four Canadians returning from a cruise ship with a hantavirus outbreak has tested positive.
Aaron Rodgers Returns to Steelers With a Big Raise
Rodgers’s one-year deal is reportedly worth up to $25 million.
Canadian national health agency confirms 1 positive hantavirus test
Canada's national health agency confirms that one of four Canadians returning from a cruise ship with a hantavirus outbreak has tested positive.
Canadian national health agency confirms 1 positive hantavirus test
Canada's national health agency confirms that one of four Canadians returning from a cruise ship with a hantavirus outbreak has tested positive.
Canadian national health agency confirms 1 positive hantavirus test
Canada's national health agency confirms that one of four Canadians returning from a cruise ship with a hantavirus outbreak has tested positive.
Canadian national health agency confirms 1 positive hantavirus test
Canada's national health agency confirms that one of four Canadians returning from a cruise ship with a hantavirus outbreak has tested positive.
Canadian national health agency confirms 1 positive hantavirus test
Canada's national health agency confirms that one of four Canadians returning from a cruise ship with a hantavirus outbreak has tested positive.
Canadian national health agency confirms positive hantavirus test
Canada's national health agency confirms that one of four Canadians returning from a cruise ship with a hantavirus outbreak has tested positive.
Bulgaria gives its Eurovision winner Dara a grand welcome upon her return home
Hundreds of cheering fans waving Bulgarian flags have welcomed Eurovision Song Contest winner Dara upon her return home | Newsradio 1140 WRVA
Bulgaria gives its Eurovision winner Dara a grand welcome upon her return home
Hundreds of cheering fans waving Bulgarian flags have welcomed Eurovision Song Contest winner Dara upon her return home.
Bulgaria gives its Eurovision winner Dara a grand welcome upon her return home
Hundreds of cheering fans waving Bulgarian flags have welcomed Eurovision Song Contest winner Dara upon her return home.
Analysis: Black Cats' dream season continues
What a dream season it has been for Regis le Bris' Sunderland side on their return to the top flight for the first time since dropping out of the Premier League in 2016-17. Sunderland's win, which takes them above Everton, leaves them ninth, one point behind Brentford in eighth and two points behind Brighton in seventh, although Chelsea in 10th have a game on the Black Cats. With Manchester City beating Chelsea 1-0 in Saturday's FA Cup final, that means seventh in the Premier League would qualify for the Europa League, with eighth place going into the Conference League.
Twilight Alive concert series returns to Kingsport in May
KINGSPORT — Twilight Alive — one of the most popular concert series in the region — will soon be jammin’ on the streets of downtown Kingsport this summer, offering fans
Business People: General Mills veteran Dana McNabb named COO
General Mills, Golden Valley, announced that Dana McNabb has been promoted to chief operating officer, effective June 1. MONO, a Minneapolis- based ad agency, announced the return of Jeffrey Gorder as CEO. Pope Design Group, St. Paul, announced the addition of Sara Rapp as northern Minnesota market lead, based in Duluth.
God, The Science, The Evidence: The Dawn of a Revolution
In effect, therefore, this book is a call for a return to the medieval vision of a rational God who created rational creatures equipped to discover the verities of nature. In other words…
Max Verstappen: Red Bull F1 driver plans Nurburgring 24 Hours return after reliability costs his team chance at win
Max Verstappen was on course for a remarkable win on debut at the Nurburgring 24 Hours but his car suffered a problem when in contention for victory in the closing hours of the race; watch the Canadian Grand Prix Sprint weekend from this Friday, live on Sky Sports F1
Retro Recap: All The Classic Gaming News From The Past Week (May 17th 2026)
SN Operator! Zelda! 3DS! Return To Blacktooth!
World Cup’s revisited: Belgium at Mexico 1970
With less than a month to go until the World Cup kicks off in North America, we are revisiting a handful of tournaments featuring both Belgium and the Netherlands. To start, we are returning to 1970, ...
A measles outbreak crossed into Mexico from Texas. A larger tragedy followed
It all started when a 9-year-old boy went with his parents to visit relatives in Seminole, Texas, early last year. After he returned home to Mexico, a red rash erupted on his skin. Within weeks, so many of his classmates fell ill that their school shut down.
MVP MMA 1 Highlights: Mike Perry vs. Nate Diaz
"Platinum" Mike Perry made his return to mixed martial arts on Saturday, defeating Nate Diaz via corner stoppage in the second round. It was both fighters’ return to mixed martial arts. Perry last fought an MMA bout in April 2021. Diaz was last in the cage in September 2022, but they put on an ...
A Look At Brookfield Business Partners (BBU) Valuation After Softer First Quarter 2026 Results
Brookfield Business Partners (BBU) is in focus after Brookfield Business Corporation reported first quarter 2026 results, showing sales of US$6,436 million and net income of US$40 million, both lower than in the same period a year earlier. See our latest analysis for Brookfield Business Partners. The recent 1-day share price decline of 2.09% to US$31.46 and a 30-day share price return down 9.21%, alongside a year to date share price return down 12.20%, contrasts with a 1-year total...
Aaron Rodgers reportedly agrees to 1-year-deal with Steelers
Former NFL MVP Aaron Rodgers is running it back with the Steelers as he reportedly agreed to a one-year deal to return to Pittsburgh.
Aaron Rodgers returns: Quarterback reportedly reunites with Mike McCarthy, Steelers for 22nd season in NFL
Rodgers is set to return to Pittsburgh for another season.
Aaron Rodgers returning to Steelers for 2026 season
Aaron Rodgers is returning to the Pittsburgh Steelers for the 2026 season, league sources confirmed to The Athletic, giving the franchise another year with the future Hall of Fame quarterback under center. After months of uncertainty surrounding his future and speculation about retirement, Rodgers and Pittsburgh are set to run it back following a season that delivered both stability and flashes of vintage production. Rodgers arrived in Pittsburgh in 2025 on a one-year deal after a lengthy free-agency process and quickly became a central figure in the Steelers’ offense.
Warriors would ‘love' to have Kristaps Porziņģis and Al Horford back next season
Steve Kerr and Mike Dunleavy discussed Friday the potential returns of veteran big men Al Horford and Kristaps Porziņģis to the Golden State Warriors.
Aaron Rodgers re-signing with Steelers for 2026 season
Rodgers is returning to the Steelers
Winter Sports Wrap: See Belmont’s League All-Stars
In Mackenzie Clarke’s own words, she felt FOMO (Fear of Missing Out). After missing her sophomore season of ice hockey to focus on year-round field hockey in the most important year for her college recruiting, she yearned to return to her first sport at the high school level. Two years later, she’s graduating as the lone Belmont High School All-Scholastic honoree across all Marauders winter athletes. “It’s always been a part of me,” Clarke said. “I started to miss it, and a bunch of people who I played field hockey with were on the team that year.” The senior forward
'Pawn Stars' icon Rick Harrison says Trump tax policies change everything for small businesses
Rick Harrison of "Pawn Stars" told Fox News that workers at his Las Vegas businesses are seeing astronomical tax returns thanks to Trump's small business tax policies.
Elliot Cadeau announces return to Michigan, laying foundation for potential repeat run
The Wolverines got some great news on Saturday with the return of the 2026 NCAA Tournament Final Four Most Outstanding Player
Liverpool must return to heavy metal football
Mohamed Salah says Liverpool must return to being a "heavy metal attacking team that opponents fear" after trophyless season.
Jeremiah Smith, Colin Simmons among college football's active statistical leaders entering 2026 season
College football enters 2026 with an unusually deep group of returning producers across every major statistical category
Austria proves too good for Britain at ice hockey worlds
Britain marked its return to the ice hockey world championship with a 5-2 loss to Austria on Saturday. Britain answered with a couple of goals through David Clements and Liam Kirk 37 seconds apart still in the first period before Austria stretched the lead with two more goals in the second when the newcomer was restricted to only two shots on goal. Peter Schneider scored twice for Austria.
Trump Returns From China With Little Progress to Reopen Hormuz
Iran said transit through the Strait of Hormuz will normalize once security conditions are restored, after US President Donald Trump returned from a visit to China with an agreed desire to reopen the critical maritime route but little in the way of a path to achieving it.
Potter second and Yee fifth on triathlon return
Beth Potter finishes second in Yokohoma for a second consecutive year while Alex Yee comes fifth on his return to the men's triathlon.
Trump returns from China with no Iran breakthrough — and a decision to make
As Donald Trump grew increasingly frustrated with diplomatic efforts to end the war with Iran, administration officials were closely watching whether the president’s trip to China — a nation with close ties to Tehran — would yield a significant breakthrough.
Is Tencent Music Entertainment Group (TME) Priced Attractive After Sharp Share Price Declines?
Wondering whether Tencent Music Entertainment Group's current share price really reflects its underlying value, or if the market is mispricing the stock right now. The stock closed at US$8.47, after falling 8.3% over the past week, 14.3% over the past month, 52.6% year to date, and 47.7% over the past year, while the 3 year return stands at 13.6% and the 5 year return shows a decline of 41.3%. Recent coverage has focused on Tencent Music Entertainment Group's position in the online...
Overland Park hotels filling up as sports tourism booms ahead of World Cup
City booked 80% of hotel rooms last June, with Top Gun softball tournament returning this year
PGA Championship: Michael Block, after missing the cut, has 'no doubt' he will make a return to the major
Michael Block posted a 5-over 75 on Friday and fell outside the projected cutline at Aronimink.
CDC Didn’t Tell New York About Resident on Hantavirus-Plagued Cruise
There’s no indication that the New Yorker was returning to the U.S. But public health experts said the city and state still should have been informed.
Computer Science Grad Helps Develop AI System to Track Bee Pollen
On the edge of the Arboretum and Botanical Garden at Cal State Fullerton, honeybees return to their hive carrying tiny packets of pollen, a protein source that can mean the difference between a thriving colony and a collapse. But the warning signs are easy to miss. Class of 2026 computer science grad Kshitij Pingle is […]
Gas Prices, Gerrymandering and Obama’s Return to Texas
Co-hosts Brandon Rottinghaus and Jeronimo Cortina delve into the latest news in politics
Trump leaves China with breakthroughs — and unfinished business on Xi’s biggest fights
Trump returns from China summit praising Xi and trade progress, but Taiwan, AI, human rights, and Iran remain unresolved after high-stakes talks.
Entertainment: Book of Mormon Sales begin, Hoku Finalists
"The Book of Mormon" returns to the Blaisdell Concert Hall later this year after a sold out Honolulu run nearly a decade ago.
Will Ferrell returns to ‘SNL’ for Season 51 finale with Paul McCartney
Will Ferrell returns to host the 'Saturday Night Live' Season 51 finale with musical guest Paul McCartney. Here's how to watch.
Praise to the chief: A week of homage to Trump
Since returning to office, Trump hasn’t just solidified his grip on Republican politics and asserted his executive authority deep into the federal government. He has inspired, encouraged, and, at times, outright demanded to be showered with homage.
Chartbook 449: Voldemort on Threadneedle street. The Bank of England and the "haunted house" of English politics.
Imagine the scene: In some Harry Potter version of 21st-century London, a group of deathless UK Treasury officials gathered from across the last century huddle over warm pints and glasses of Chardonnay. Around the table there are officials from the 1920s, the 1930s, the 1970s, 2022 and today. Inevitably, in May 2026, the subject of conversation is the disintegration of the current Labour government. Despite its huge majority in parliament, it has been reduced to tatters by catastrophic local election result. These exposed the fact that rather than having a government with a clear popular majority, the UK is like most other modern societies divided into 5 segments each of which commands between 26 and 16 percent of the vote. Perhaps unsurprisingly, the leadership at Nos 10 and 11 Downing Street - where the Prime Minister and the Chancellor (Treasury Secretary) work - seem paralyzed. They are caught between mounting discontent over unfairness and the cost of living, and tough fiscal strictures that push them into making unpopular spending decisions. In the London pub, the Treasury officials from across the ages, can barely hide their satisfaction at the latest display of democratic politics caught in the vice-grip of financial logic. “Remember the mur d’argent and the banker’s ramp?” “Just like yesterday!” There are smirks around the table. Then the representative of 2026 pipes up: “One thing you have to say about the current lot (referring to the latest hapless Labour government), you don’t have to teach them about the bond market!” There is a murmur of ascent from the Treasury Mandarins. The trauma of the fiscal crisis of September-October 2022 sits deep. Back then, in the final stages of Tory decay, a ‘mini budget’ that challenged fiscal orthodoxy led to a brief but fierce panic in one of the oldest government bond markets in the world (aka gilt market). Now all you have to do is to mention the “bond market” to hush debate. [ Paul Mason@paulmasonnews In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/ 3:57 PM · May 12, 2026 · 466K Views 224 Replies · 674 Reposts · 3.93K Likes ](https://x.com/paulmasonnews/status/2054229532404519082?s=20) “And the funny thing is”, the young man in the huddle continues, “they don’t even want to talk about … ”. There is a sudden hush. Significant looks are exchanged around the table. About? One of the senior figures puts down his glass with a decisive “clink”. He-Who-Must-Not-Be-Named has entered their thoughts. Meanwhile, a few miles away in a grubby pub in Bloomsbury, two conspirators from the camp of Critical Macrofinance huddle over cans of low-alcohol IPA. They look at each other and blurt out loud: “The Bank!” “Everyone in the bloody Labour party is talking about the bond market. But why aren’t they even mentioning … the Bank of England!?” “Why is no one talking about Voldemort?” In Paul Mason’s blogpost, after much chest-thumping about basic fiscal logic, the basic point about the Bank of England is buried in the fine print at #3 in his list of suggestions as to what a radical Labour government might actually be able to do! [ Conflict & Democracy Down with the bond market! Down with gravity! It may seem unfair to focus on Labour MP Paula Barker for her off-the-cuff assertion that the bond market would have to “fall in line” with Andy Burnham, should he replace Keir Starmer as prime minister. But Burnham himself told the New Statesman that Labour had to “get beyond this thing of being in hock to the bond markets… Read more 2 days ago · 100 likes · 3 comments · Paul Mason ](https://htsf.substack.com/p/down-with-the-bond-market-down-with?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Back in Bloomsbury they shake their heads and ask: “Didn’t we learn anything from the Eurozone crisis?” Meanwhile, as if summoned to the conversation by some higher force, the “pink pages” announce: “The days of ultra-cheap government borrowing have come to an end” and Martin “Whizzard” Wolf publishes the graph of the season Look at the UK in 2026, perilously positioned on the upper edge of the pack. No wonder no one in London needs any lessons about the “bond market”. But, look again. Imagine how they feel in Rome. What is London’s nightmare in 2026? The nightmare is that you end up like Italy in the early 2010s during the Eurozone crisis. Once comfortably situated in the middle of the pack, watching with horror as your ten-year yields explode to 7 percent and “spreads” become a national nightmare. One of the largest economies in Europe, a founding member of the euro, stigmatized. But the message of the Italian experience is ambiguous. After all, the stigma didn’t last. In 2026, Italy borrows at rates lower not only than the UK but the US. The US, which, as everyone knows, enjoys the “exorbitant privilege” of being the issuer of reserve, safe asets. What kind of magic is this? How did Italy, in the space of fifteen years, go from being good, to bad and back again? Which brings us back to our dissident friends in their Bloombury boozer and their memories of the Eurozone crisis. Italy never was Britain - with its ongoing fiscal deficits. Without interest payments, on primary balance, from 2000 to 2020 Italy ran a tight fiscal ship. Even in 2008 it barely went into deficit and when it was being put on the rack in the early 20210s its primary surplus matched that of austere Germany. So, what happened? How did it end up stigmatized? Of course Italian politics didn’t help. Berlusconi was at the helm and he had legal issues. But amongst friends in the Bloomsbury pub, Berlusconi is a sideshow, the name we whisper to each other is “Trichet”. From 2004 to 2011 the ECB was headed by Jean-Claude Trichet, ex of the French Treasury, more German than the Germans. After 2009 as the news of the Greek fiscal disaster broke, the European bond markets wento into panic mode and Trichet began a brutal game of cat and mouse. Between 2009 and 2011, Trichet intervened in the bond market to help, only when he thought he had compliance with austerity. When he thought they were uncooperative, he withdrew. In the summer of 2011, he even made direct suggestions to his Italian counterparts in Rome, as to how Italy should be governed. It was this cat and mouse game that drove the bond markets crazy and exposed Italy to a violent squeeze. When Mario Draghi took over the ECB at the end of 2011 and declared “whatever it takes”, the pressure on Italy, gradually eased. It is that starring role that has made Draghi into the towering figure in European politics that he remains today. So now you see why voices in London hush when it comes to the Bank of England. “The bond market” isn’t an irresistible objective force like the weather or an avalanche. It can appear like that. But that depends on the way it is being handled, or not handled by the central bank. Which is why the silence about the Bank of England in London right now is so significant. If you think this all sounds a bit fishy, coming from a left-liberal Keynesian like myself, well, let me introduce you to Robin Brooks, who, to put it mildly, plays on a different quidditch team to me. Here, from the position of a fiscal hawk is Robin’s celebratory account of the Bank of England’s role since 2022; In October 2022, at the height of the bond market blow-up in the UK, something incredible happened. Governor Andrew Bailey told British pension funds the Bank of England would end its support program for the country’s fragile gilt market, drawing a line under how much help the central bank was willing to give to exposed pension funds and - implicitly - the government. By the end of that week, Kwasi Kwarteng - the finance minister - had resigned. Prime Minister Liz Truss would soon follow. This episode is so incredible because it contrasts with what happened in the Euro zone earlier that year. Bond markets in Spain and Italy were under pressure amid high inflation and rising interest rates. In the middle of this, Mario Draghi - Italy’s Prime Minister - resigned, compounding pressure on bond markets of high-debt countries on the Euro periphery. Unlike the Bank of England, the ECB caved. It bought Italian and Spanish government bonds in an effort to cap yields and introduced a new tool that signaled to markets it might do such caps more frequently going forward. Faced with pressure on bond markets, the ECB capitulated to political pressure from high-debt countries like Italy and Spain. The Bank of England stood its ground and toppled the Truss government. This kind of thing has long-lasting consequences. It means markets price a higher probability of yield caps in the Euro zone, which keeps Italian and Spanish yields artificially low, while markets feel free to push up UK yields without fear of central bank intervention. As I flagged in yesterday’s post, this means you really can’t compare UK yields to those of other high-debt countries. The UK looks worse, but only because its central bank isn’t interfering with markets. There’s more to this than just that 2022 episode. The Bank of England has also been much more aggressive in its quantitative tightening (QT) than other central banks. If one motivation for quantitative easing (QE) is to lower bond yields - especially longer-dated ones - then it stands to reason QT pushes yields up. The left chart above shows a four-quarter moving average of UK government debt issuance (black line) in percent of GDP and which sectors absorb this issuance, including the Bank of England (blue bars). The right chart above compares the Bank of England’s accumulation or run-off of government bonds (blue line) with that of other central banks, where this blue line is the same as the blue bars in the left chart. The Bank of England was quicker and more aggressive than other central banks in downsizing its bond holdings, so UK yields will have risen more than elsewhere also for this reason, not just because of Governor Andrew Bailey’s remarks in October 2022. Back in October 2025, after a conversation in New York with friends in British politics, my sense of dysphoria was such that I raised the issue of the Bank of England openly in the FT Since 2008, the UK has slid into a deep economic and political predicament. Growth has stagnated to a degree far worse even than in the 1970s. The Tory leadership’s wager on the Brexit referendum spectacularly backfired, leaving the UK isolated from Europe and at the mercy of its special relationship with the US, many of whose political class regard the UK as a basket case. After years of austerity, the Labour party lurched to the left and then back to the centre. The Tory party has been eclipsed by the populist nationalism of Reform. Any British government should be worrying first and foremost about how to restart growth. Instead, Keir Starmer is beset by shades of the gilt market panic triggered by the Liz Truss government in 2022. The debt level is higher than in recent years, but there is no cause for panic. UK debt is at far from critical levels and of long duration. Whether you want to “take back control” or launch progressive economic policy, a democracy dogged by fear of bond market vigilantes is unhealthy. In a country that is a monetary sovereign, this climate points to one thing: a disconnect between the government and the central bank. Since 1997, the independence of the Bank of England has become a sacred cow. But independence is what you make of it. And in the wake of the gilt market crisis of September 2022, relations between the Bank of England and the UK government need a reset. In normal times, there is no doubt that an inflation-targeting independent central bank can serve a country well. But since 2008, the UK and other advanced economies have not had the luxury of such simple problems. To their credit, central bankers around the world have not stood on orthodoxy. After 2008, the US Federal Reserve rescued the global banking system and, through quantitative easing, it stabilised the Treasury market in the face of huge deficits. In Europe, things were trickier. Both the Bank of England under Mervyn King and Jean-Claude Trichet’s European Central Bank played cat and mouse with national governments. This was a high stakes wager that between 2010 and 2012 escalated bond market tension and triggered a disastrous turn to austerity. Shaken by the impact of those shocks, their successors, Mark Carney and Mario Draghi adopted a more protective stance (assuming you were not the government of Greece). Recall that Draghi’s legendary slogan, “Whatever it takes”, was uttered to face down the City of London’s bond vigilantes. In 2015, Draghi launched QE — financial repression by another name. In 2016, Carney used the authority of the Bank of England to stabilise markets following the vote for Brexit, an exemplary demonstration of how central banks can underpin democratic choice, even when those choices are wrong headed. All these were independent central bankers steeped in the best practice of the 1990s, who recognised that historic crises demanded radical action. It was the price surge of 2021-2023 that poisoned the atmosphere. Though the shock came mainly from the supply side, central banks ended up in the dock. Nowhere more so than in the UK. The Bank of England reacted with aggressive normalisation. Faced with a cost of living crisis, the governor called for workers to accept real wage cuts. In early 2022, as gas prices were at record levels and Russia’s army was poised to invade Ukraine, the Bank adopted a stringent programme of quantitative tightening, elevating interest rates. When the Truss government got itself in trouble, the Bank took almost a week to come to the rescue. Rather than enacting a charade of normality, it is time to recognise that in 2025 the UK faces a period of historic transition. To meet this challenge, what is needed is a new concordat with the Bank. This should not ignore inflationary pressures or the long-run trajectory of debt, but should affirm the priority of reviving investment-led growth. One could follow Donald Trump in demanding interest rate cuts. The Bank could shadow the ECB in its commitment to capping Eurozone yields. But the top priority should be to lay the ghost of September 2022. The Bank’s slowing of QT last month was a concession. An immediate and complete end would send the right signal. Such a concordat will not by itself restore sanity to politics, solve the housing problem or rebuild the NHS. But it would help to lift the fear of bond market crisis, which is paralysing the effort by democratic politicians to answer the fundamental questions facing the nation. Now, that call for a new concordat between government and Bank of Englands seems more urgent than ever. The problem is that in October 2025, Starmer still had some authority. Today the government is in tatters. And when you are the “under the harrow” - to echo a phrase of Montagu Norman’s from the 1920s - it is the worst possible time to consider institutional change. To make general arguments at a time of crisis can only seem like special pleading rather than a general argument for long-term change. The same, unfortunately, is also true for the other basic institutional reform that Britain urgently needs i.e. the abolition of the out-dated first past the post electoral system and its replacement by a moderated form of proportional representation. And thirdly - whilst we are saying the quiet parts out loud - Britain needs to reopen the question of EU membership. What the local election results of 2026 show is that this remains a key issue. And what they also show is that there is a clear majority that would favor a return. Until these basic features of Britain’s political economy are addressed the country will carry on its politics as though in a haunted house, governed by governments that lack actual majorities, conjuring up false constraints whilst ignoring the real ones. This one is for DG and MI. I love writing the newsletter. If you enjoy it too and fancy buying me a coffee once a month, you know what to do. Click below! Subscribe
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