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Paramount Earthmoving boss Shawn Tilley rejoins Macro after fraud charges dropped

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Paramount Earthmoving boss Shawn Tilley rejoins Macro after fraud charges dropped

Paramount Earthmoving managing director Shawn Tilley has been re-appointed as a Macro Metals director after fraud charges against him were dropped.

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Family office deal-making rebounds in April with healthcare bets

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Family office deal-making rebounds in April with healthcare bets

Laurene Powell Jobs, founder and president, Emerson Collective, speaks during the 29th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California on May 4, 2026.

Patrick T. Fallon | Afp | Getty Images

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.

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Investment firms of ultra-wealthy families stepped up their deal-making in April after a slowdown the month prior triggered by the outbreak of the Iran war.

Family offices made 55 direct investments in companies last month, up from 39 in March according to data provided exclusively to CNBC by Fintrx, a private wealth intelligence platform.

Nearly a third of April’s investments were made in healthcare and life sciences companies.

Laurene Powell Jobs’ Emerson Collective, her investment and philanthropy firm, joined fundraises for two startups, a seed round for Ultralight and a Series A round for Stipple Bio. Ultralight, an artificial intelligence software platform for personalized healthcare, raised $9.3 million in seed funding from Emerson Collective and other investors. Stipple Bio, a developer of targeted cancer therapies, raised $100 million in the round, which was co-led by Andreessen Horowitz.

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Family offices’ healthcare investments are often inspired by personal experience. Emerson Collective’s investment in Stipple Bio was managed by Yosemite, an oncology-focused venture fund founded by Reed Jobs, Powell Jobs’ son with Steve Jobs. The Apple co-founder died in 2011 from complications of pancreatic cancer.

Also in April, Dolby Family Ventures joined a 53 million euro ($62 million) Series B round for Exciva, a developer of treatments for agitation in Alzheimer’s patients. The impact-driven family office was founded by David Dolby in 2014, about a year after his father, billionaire engineer Ray Dolby, died of complications of Alzheimer’s disease and acute leukemia.

In a survey released by J.P. Morgan Private Bank in February, half of family offices cited healthcare innovation as a top investment theme, second only to artificial intelligence, at 65%.

This influx of private capital comes during cuts and interruptions to federal funding for healthcare research. A budget proposal released by the Trump administration in April seeks to cut an additional $5 billion from the National Institutes of Health.

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Consumers confused by new dietary guidelines

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Consumers confused by new dietary guidelines

Survey finds consumers are aware of the updated Dietary Guidelines for Americans but aren’t sure they understand them. 

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Peloton (PTON) earnings Q3 2026

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Peloton (PTON) earnings Q3 2026

The Peloton Tread+ and Bike+ during a media preview at Peloton headquarters in New York, US, on Tuesday, Sept. 30, 2025.

Gabby Jones | Bloomberg | Getty Images

Peloton posted fiscal third-quarter earnings results Thursday that beat Wall Street expectations on revenue but fell slightly short on earnings per share.

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The company touted better-than-expected equipment sales and subscription revenue as helping to drive its sales and profitability, with free cash flow up nearly 60%.

“The first order of business in earnings is reporting how you did financially, and we feel like that was a pretty good quarter in terms of where we are strategically,” CEO Peter Stern told CNBC.

Here’s how the company performed in its quarter ended March 31, compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

  • Earnings per share: 6 cents vs. 7 cents expected
  • Revenue: $630.9 million vs. $617.6 million expected

The company’s net income for the quarter was $26.4 million, or 6 cents per share, up from a loss of $47.7 million, or 12 cents per share, in the year-ago period. Sales came in at $630.9 million, up roughly 1% from $624 million a year earlier.

For the full fiscal year, Peloton said it projects total revenue of between $2.42 billion and $2.44 billion, lifting the lower end of the guidance range it provided last quarter.

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The company saw revenue for its connected fitness subscriptions come in at $202.9 million, down from $205.5 million a year prior, but beating estimates of $196 million, according to StreetAccount. Subscription revenue also topped estimates and grew 2% year over year, reaching $428 million.

Paid connected fitness subscriber count, however, fell year over year to 2.66 million.

The connected fitness company has been struggling with weak performance and sluggish sales, previously projecting that performance to extend into this quarter. It’s tried to revamp its product assortment and recently raised prices on both its equipment and subscription plans.

Stern said Peloton feels its pricing changes were appropriate.

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“We’re really sensitive to the fact that people feel stress in this economic environment, and it’s impacting different people in really different ways,” Stern told CNBC. “That being said, we feel like the price changes that we made in Q2 – it was time. We had added a tremendous amount of value over the succeeding three or four years since we previously made any change in our subscription prices.”

Peloton has also been inking new partnerships and trying new strategies to win back customers. Last month, Peloton announced a deal with Spotify, making more than 1,400 Peloton classes available to Spotify Premium subscribers. It also launched its first Bike and Tread products for high-traffic gym floors in March.

Stern added that the company had already factored the Spotify deal into its revenue guidance because it had been in the works for “a long time.” Peloton also does not count Spotify users toward its subscribers.

“We’re really excited about our deal with Spotify, that allows us to reach Peloton members in a lot more countries and is also a high margin revenue for us,” Stern said.

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First Parcels Land in Darlington as Prime Air Launches

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First Parcels Land in Darlington as Prime Air Launches

Amazon has quietly opened a new front in the battle for ultra-fast delivery, becoming the first retailer in Britain to drop parcels by drone after a limited launch in Darlington, County Durham.

The service, operated under the company’s long-gestating Prime Air programme, will see packages weighing less than 5lb (2.2kg) flown out from an Amazon fulfilment centre to homes within a 7.5-mile (12km) radius. Initial payloads are unglamorous but practical: beauty products, batteries, charging cables and the kind of small household items shoppers tend to discover they need only when it is already too late to drive to the shops.

For Amazon, which first promised drone deliveries more than a decade ago and has since watched the technology stutter through regulatory and engineering setbacks, the Darlington launch is both a proof point and a test bed. For Britain’s retail sector, including the small and medium-sized businesses that increasingly rely on Amazon’s logistics network, it is a sharper reminder still that the goalposts on customer expectation are moving once again.

The trial’s earliest beneficiary was Rob Shield, a Darlington farmer who let Amazon use an Airbnb on his land for its first test runs. The novelty, he admits, soon took over.

“Initially it was a novelty, so we were ordering everything under the sun,” he says. “Pens, paper, chocolates, anything to make it keep coming.”

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Parcels arrive in shoebox-sized packages, released from a height of around 12ft onto the front garden. The spectacle, Mr Shield concedes, drew its own audience: “We’d have people come just to see it.”

What began as a curiosity has become, in his telling, a quiet utility. “You start realising, ‘I actually need something today’, like tape measures and stuff you’re always losing. We just order it and it comes.”

In the UK, Amazon’s drones currently promise delivery within two hours. The American benchmark is rather more pointed: David Carbon, vice president of Amazon Prime Air, says the average delivery time in the US is now 36 minutes.

“The certainty is people have never told us they want their stuff slower,” he says. “If you’ve got kids and you want fever medication, you want it. You don’t want to drive to the store.”

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Amazon will cap operations at ten flights an hour and up to one hundred deliveries a day on weekdays, a deliberately modest cadence designed to satisfy regulators rather than sceptical shareholders.

The aircraft in question is the MK30, Amazon’s latest model, fitted with sensors intended to avoid trampolines, washing lines, pedestrians and other aircraft. GPS guides the drone to each drop-off, where it releases its load. “This is effectively an autonomous drone that can do what a pilot does in a flight deck. It can do what ground crews do, and it can deliver a package,” Mr Carbon says.

That autonomy is not absolute. The Darlington flights are conducted “beyond visual line of sight”, BVLOS in industry parlance, but every aircraft is monitored remotely by an operator who liaises with air traffic control at nearby Teesside Airport when required.

The choice of Darlington is, on closer inspection, a piece of careful corporate scouting rather than an accident of geography. The town offers a useful mix of residential streets, major roads and an airport in close proximity, allowing Amazon to stress-test its kit across multiple environments without travelling far. Crucially, it sits beside an Amazon hub with the deep stock needed to support the service.

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It is also the only location outside the United States where the company is operating drone deliveries.

The Civil Aviation Authority has granted approval for a trial running to the end of the year, with temporary protected airspace, a regulatory prerequisite for autonomous flight under current rules, secured until mid-June and expected to be extended. Darlington Borough Council, which approved temporary planning permission for what it described as the “unprecedented nature of the scheme”, said it was “great to see Darlington at the forefront of such a pioneering scheme which highlights our borough as an area of innovation, development and investment”.

The limits of flying logistics

For all the choreography, the technology has obvious constraints. Eligible customers will need a garden or yard. Flats and terraces without outside space are excluded.

Dr Anna Jackman, an associate professor of geography at the University of Reading, says the Darlington trial illustrates both the promise and the limitations of the technology. “A lot of our demand for delivery services is in urban centres. They are very densely populated, very congested. And the reality is [drone deliveries] don’t work well in high-rise buildings.”

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Rooftop drop-offs and centrally located drone hubs are being explored, she adds, “but right now we’re not there yet”.

There is also the question of safety, where Amazon’s record is not unblemished. In February, an MK30 drone clipped the gutter of an apartment building in a Dallas suburb after losing GPS signal, falling to the ground and breaking apart. No one was hurt, and Amazon has since suspended deliveries to similar buildings. Mr Carbon describes it as one of the “things we learn as we go along”, noting that 170,000 drone flights have been completed safely.

Drones are not entirely new to British skies. The NHS is trialling them to ferry blood supplies across London, and Royal Mail is using them to reach remote communities in Orkney. Amazon’s intervention is different in character: this is a commercial play by the country’s largest online retailer, and the read-across for smaller businesses is significant.

Independent retailers and the SMEs that use Amazon’s marketplace will, sooner or later, face customers who have come to view sub-two-hour delivery as the baseline. The pressure to match, or at least mitigate, that experience will fall hardest on those without the logistics muscle of a global platform. At the same time, the gradual normalisation of BVLOS flight could open new commercial doors for British drone operators, software firms and aerospace suppliers servicing the sector.

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For now, the residents of Darlington are the test market, and reaction has been mixed. The launch itself ran years behind Amazon’s original 2023 pledge to begin in 2024, a reminder that aviation regulation does not bend easily to Silicon Valley timelines.

Mr Carbon is unrepentant. “We wouldn’t be doing it if it wasn’t commercially viable,” he says. “It’s a business, right? Absolutely, it can be commercially viable, and that’s the goal that we’re going after.”

Whether it ends up reshaping British retail logistics or remaining an expensively engineered curiosity will depend on what happens next: the regulator’s willingness to widen the airspace, Amazon’s appetite to keep spending, and customers’ willingness to look up.


Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Insmed stock falls 6% on Q1 beat as investors eye guidance

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Insmed stock falls 6% on Q1 beat as investors eye guidance

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Norton Rose Fulbright’s Newcastle office boosts headcount in 10th year

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The Quayside base began as the global law firm’s innovation and technology hub

(Image: Unknown)

The Newcastle office of global law firm Norton Rose Fulbright has hailed growth with the creation of 40 new jobs over the past 12 months.

Bosses at the Newcastle Quayside base say they have made a significant investment in local talent, including six new associate and senior lawyers, 20 new roles across the firm’s finance and IT departments and 15 new paralegals. It comes as the city office celebrates its 10th anniversary.

In the decade since its 2016 launch with just a small group of paralegals working on due diligence, the office has grown to employ more than 370 staff across 10 departments. Those teams offer a range of business and legal services to clients around the world.

The office is described as critical to Norton Rose Fulbright’s global operations as its specialist innovation and technology hub. Leaders there says the North East’s emergence as a UK AI Growth Zone will help shape the office’s future.

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Rod Harrington, chief operating officer for Norton Rose Fulbright in Europe, Middle East and Asia Pacific, said: “10 years on, Newcastle has become one of the most important operational centres in our global firm. What began as our first innovation hub now delivers legal, technology and business services at a scale and quality that has genuinely changed how we serve clients across the EMEAPAC region and beyond.

“The office has shown what is possible when you bring lawyers, paralegals, technologists and business professionals together in a single team with a shared purpose. As we move into the next phase, with AI reshaping professional services, Newcastle is exceptionally well placed to play a critical role in that work on behalf of the whole firm.”

Peter Scott, global managing partner and managing partner for Europe, Middle East & Asia Pacific, added: “Newcastle has played a crucial role in advancing the firm’s transformation programme, and we thank everyone for their extensive contributions to our success. Reaching our 10-year milestone in Newcastle is a testament not only to the strength of our teams, but also to the relationships we have built across the city and the wider North East.

“As we celebrate this anniversary, we also look ahead with a shared ambition for Newcastle to help shape the future of our legal service delivery in the UK and globally.”

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Dan Newcombe, head of Legal Services in Newcastle, who joined the office in 2016, said: “Alongside the Newcastle office leadership committee, I want to thank everyone who has contributed to the success and growth of our fantastic office over the past decade.

“We are incredibly proud of what has been built here and look forward to continuing to strengthen our impact, while cementing our position as an employer of choice in the North of England.”

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Birmingham and Tampa top ADP’s best cities list for college grads

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Birmingham and Tampa top ADP's best cities list for college grads

The slowing labor market is posing a challenge to recent college graduates looking to begin their careers, with many new graduates finding work in Southern cities.

A study by ADP using anonymized data to compare the 53 largest metro areas in the U.S. based on hiring, wages and affordability for workers in their 20s with college degrees. 

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It found that Birmingham, Alabama, and Tampa, Florida, were at the top of the list of destinations for fresh graduates embarking on careers. Birmingham was in the 85th or higher percentile in wages, affordability and hiring, while Tampa was buoyed by topping the rankings in hiring despite middling scores for wages and affordability.

Those cities were followed by San Jose, California, and Columbus, Ohio, in the rankings. 

PRIVATE SECTOR ADDED 109,000 JOBS IN APRIL, ABOVE EXPECTATIONS, ADP SAYS

Tampa, Florida, skyline.

Tampa, Florida, was once of the cities at the top of the list of destinations for fresh graduates embarking on careers. (Joe Sohm/Visions of America/Universal Images Group via Getty Images)

Four other cities in the top 10 were also located in the South, including Raleigh, North Carolina; Tulsa, Oklahoma; Nashville, Tennessee; and Charlotte, North Carolina. Two large metro areas rounded out the top 10, with San Francisco and New York City ranking seventh and tenth, respectively.

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A report by The Wall Street Journal about the ADP study’s findings noted that the analysis suggests an emerging recovery in hiring for college graduates is playing out unevenly around the country.

The Journal noted that both Columbus and San Jose unexpectedly rose in the rankings this year despite some components of their overall ranking being less consistent, as San Jose ranked in the 12th percentile of metro areas in terms of affordability and Columbus was in the 50th percentile for earnings.

HOW AI EXPOSURE IS RESHAPING JOBS IN CREATIVE FIELDS

aerial view of Raleigh, North Carolina

Raleigh, N.C., ranked in the top 10 of the list of metro areas hiring the most recent college graduates. (iStock)

Several prominent metro areas lost ground in their overall rankings, such as Milwaukee, Wisconsin; Baltimore, Maryland; and Austin, Texas, were in the top five of the rankings last year but fell below their peers this year. 

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Austin was in the 94th percentile a year ago but fell to 77th, while Baltimore also dropped from the 96th percentile to the 75th.

RECENT COLLEGE GRADS ARE LOSING THEIR EDGE IN THE JOB MARKET, STUDY SHOWS

San Francisco Golden Gate Bridge

San Francisco and San Jose represented the West in the rankings. (Justin Sullivan/Getty Images)

The biggest risers in the report from last year included several members of the top 10 list. Tampa jumped from the 54th percentile to the 98th, while San Jose rose from the 76th percentile to the 96th, and Tulsa climbed from the 50th to the 90th percentile.

Fresno, California, was outside the top 10 but made a significant leap in the report from the 22nd percentile to 79th.

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Wetherspoon v Ryanair: Tim Martin takes on Michael O’Leary over the airport pint debate

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Wetherspoon chair brands any limit on early morning airport alcohol sales a ‘Big Brother’ approach after Ryanair chief questions airport drinking

Ryanair CEO Michael O'Leary, left, and Wetherspoon chair Tim Martin

Ryanair’s CEO Michael O’Leary, left, and Wetherspoon chair Tim Martin(Image: Daily Record/PA Wire)

JD Wetherspoon’s Tim Martin has hit out at outspoken Ryanair chief Michael O’Leary over demands for airports to tighten restrictions on early morning alcohol consumption.

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Mr Martin, chairman of the UK’s most recognisable pub chain, says regulating drinking at airports amounts to a “Big Brother” approach that could ultimately result in passengers being breathalysed.

Ryanair boss Mr O’Leary had called on airports to prohibit passengers from drinking pints ahead of early-morning flights, as reported by City AM.

The budget airline mogul claimed his carrier is forced to divert flights on an almost daily basis due to the unruly conduct of intoxicated passengers.

O’Leary told the Times earlier this week: “It’s becoming a real challenge for all airlines. I fail to understand why anybody in airports bars is serving people at five or six o’clock in the morning. “

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“Who needs to be drinking beer at that time?”

The Ryanair chief executive accused airports of “profiteering” from disorderly behaviour which causes havoc for airlines and other passengers.

“The ones who are profiteering off it are the airports who have these bars open at five or six o’clock in the morning and during delays are quite happy to send these people as much alcohol as they want,” he said.

However Mr Martin, whose company runs sizeable pubs at major UK airports including Heathrow and Gatwick, has fired back. Any cap on alcohol consumption would prove extremely challenging to enforce, he said, adding: “It is in everyone’s interests to have good behaviour at airports and on flights.

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“[But] a two-drink limit would be extraordinarily difficult to implement, short of breathalysing passengers, and would, in our opinion, be an overreaction – especially since many of the problems stem from incoming flights.”

Wetherspoon maintains that food, soft drinks, tea and coffee represent two thirds of turnover at its airport establishments, as the pub group attempts to challenge suggestions that it benefits from inebriated conduct.

A “significant proportion” of alcoholic beverages purchased in airports are accompanied by a meal, and introducing restrictions would simply drive passengers towards buying drinks from off-licences or supermarkets prior to reaching the terminal, Wetherspoon argued.

Shadow transport secretary Richard Holden described the proposals to restrict drinking as “slightly draconian”.

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“There is something peculiarly British about the tradition of having a pint at 6am when waiting for your Ryanair flight,” he said.

This is not the first clash between Tim Martin and Michael O’Leary over airport pints, as the pair previously argued over the issue in 2024.

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Trump Administration Sues New York Times Over Claim It Discriminated Against White Man

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Trump Administration Sues New York Times Over Claim It Discriminated Against White Man

The New York Times

NYT

8.31%

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increase; green up pointing triangle was sued by the Equal Employment Opportunity Commission over allegations it passed over a white man for promotion in pursuit of what the agency called unlawful corporate diversity policies. 

In a complaint filed in Manhattan federal court Tuesday, the U.S. watchdog said the Times chose not to promote the staffer to an editor role in early 2025 because of his race and gender. Instead, it hired a nonwhite woman who, the agency alleged, had less experience than the man.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Star Returns in Just 9 Days but Not Yet 100% Fully Recovered

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Anthony Edwards #1 of the Minnesota Timberwolves pauses during the second half against the Cleveland Cavaliers at Rocket Mortgage Fieldhouse on February 28, 2022 in Cleveland, Ohio. The Timberwolves defeated the Cavaliers 127-122.

MINNEAPOLIS — Minnesota Timberwolves superstar Anthony Edwards has made a stunningly fast return from a left knee hyperextension and bone bruise, playing in Game 1 of the Western Conference Semifinals against the San Antonio Spurs just nine days after the injury, though he remains on a minutes restriction and is not yet considered 100% fully recovered as the team manages his workload carefully.

Edwards suffered the injury in Game 4 of the first-round series against the Denver Nuggets on April 25, 2026. Initial projections suggested he would miss multiple weeks, potentially the entire second-round series. However, aggressive rehabilitation—including hyperbaric chamber sessions, pool running and around-the-clock treatment—allowed him to make “unforeseen progress,” according to league insiders.

The Timberwolves officially cleared Edwards for on-court activities on May 4 and listed him as questionable for Game 1. He was upgraded to available shortly before tip-off on May 5 and came off the bench for 25 minutes in Minnesota’s 104-102 road victory. Coach Chris Finch confirmed a minutes restriction, though the exact limit was not publicly detailed.

Edwards’ Own Assessment

In a post-game interview, Edwards said he felt “great” and was “not limited at all.” He emphasized focusing on preventing stiffness, a common issue after hyperextensions. “I’m just trying to keep it from being stiff because that’s the usual outcome,” he told ESPN. Teammates and coaches have praised his work ethic and determination to return for the team’s playoff push.

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Despite the positive comments, medical experts note that bone bruises can linger and require careful management to avoid setbacks. Edwards is listed as questionable for Game 2 on May 7, with the team expected to continue monitoring his knee closely.

Timeline of the Injury and Recovery

  • April 25: Edwards exits Game 4 vs. Nuggets with left knee injury.
  • April 26-27: Testing rules out ligament damage; initial timeline estimated at 1-4 weeks.
  • May 3-4: Edwards begins light on-court work and travels with the team.
  • May 5: Cleared and plays 25 minutes in Game 1 vs. Spurs.
  • May 6-7: Listed questionable for Game 2 while continuing recovery.

The nine-day turnaround has drawn widespread praise as “miraculous,” though the Timberwolves are taking a conservative approach given Edwards’ importance to their championship aspirations.

Impact on the Timberwolves

Minnesota advanced past Denver without Edwards in the final two games, relying on strong team defense and contributions from Julius Randle, Rudy Gobert and others. His return in Game 1 provided an immediate boost, though he started on the bench to ease him back into action. The Wolves stole home-court advantage in San Antonio, highlighting the value Edwards brings even at less than full strength.

Edwards averaged 28.8 points per game during the regular season and remains the clear offensive engine for Minnesota. His presence changes defensive schemes and spacing, making the Timberwolves a more dangerous playoff contender.

Medical Perspective on Knee Injuries

Knee hyperextensions combined with bone bruises typically require 2-4 weeks for full recovery. Edwards’ rapid return is attributed to his youth (24 years old), elite conditioning, and intensive treatment protocols. However, rushing back carries risks of re-injury or compensatory issues in the opposite knee, where he has previously dealt with runner’s knee.

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Timberwolves vice president of medical performance David Hines noted in a team video that Edwards hit key metrics for pain management, mobility and strength ahead of schedule. Long-term, the organization will prioritize protecting Edwards through the remainder of the postseason.

What’s Next for Edwards and the Timberwolves

The team will provide daily updates as the series progresses. Edwards is expected to play in Game 2, likely still on restricted minutes, with gradual increases possible if he responds well. Full recovery—meaning no limitations, full explosiveness and zero soreness—may take additional weeks, potentially aligning closer to the original 2-4 week timeline for complete healing.

For fans and fantasy managers, Edwards’ availability is a major positive, but expectations should be tempered. His explosiveness and lateral quickness may not be at peak levels immediately. The Timberwolves’ depth has proven capable of supporting him during the ramp-up period.

As the Western Conference Semifinals unfold, Anthony Edwards’ resilience has become a storyline in itself. While he is back on the court and contributing, he is not yet 100% fully recovered. The coming games will test both his knee and the Timberwolves’ ability to balance his health with their championship goals.

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Minnesota’s medical staff, coaching decisions and Edwards’ own feedback will dictate his usage moving forward. For now, the star guard’s presence alone elevates the Wolves’ ceiling in a highly competitive Western Conference.

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