Nicholas Hawkins
MD, CEO & Executive Director

Good afternoon, everyone, and welcome to IAG’s 2026 Investor Day. I’m joined here by our Chief Financial Officer, William McDonnell; our COO, Neil Morgan; the CEOs of our divisions, Julie, Jarrod and Phil and other members of the executive team of IAG are all sitting in the front row here in Sussex Street. We’re holding today’s event on IAG Sydney’s offices on the lands of the Gadigal people. And so we acknowledge the traditional owners of country throughout Australia, and we recognize their continuing connection to lands, waters and the community. I pay my respects to elders past, present and emerging.

Many of you have been on the bus trip this morning attending the showcases at our research center and the major event command center. And I hope you enjoyed the insights and the kind of uniqueness of IAG that you’ve just seen. Just in terms of agenda, as you can see, we’ve got a full agenda this afternoon. But within that, we’re going to break for a couple of times for questions after a couple of the sessions. And

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This article was written by

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

This article is written for informational and academic purposes only. Each investor should seek licensed investment, accounting and legal advice for their own situation before making any investment decision.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Most people know that Vanguard offers low-cost index funds. Some know that Vanguard is itself owned by those fund investors collectively. But few realize that this clever corporate structure is why the funds are so low cost. And why Americans have access to low-cost index funds at all. Together with the other large index-fund companies like BlackRock, State Street and Fidelity, Vanguard owns an estimated 24% of the entire U.S. stock market. Here’s how that happened:

1535 ET – Oil futures post back-to-back gains as the prolonged closure of the Strait of Hormuz starts to raise concerns about falling global inventories. “While strategic releases and demand reduction have prevented immediate chaos, the margin for error is shrinking rapidly,” Phil Flynn of the Price Futures Group says in a note. A continued closure of the strait points to tighter physical markets, potential product shortages, and upward pressure on prices in coming weeks and months. On the other hand, prices further out on the curve may be suggesting that demand destruction, strategic releases, and non-Gulf supply responses “are proving more effective and elastic than the bullish narrative suggests.” WTI settles up 4.2% at $105.42 a barrel for a 10% weekly gain. Brent rises 3.3% to $109.26, up 7.9% on the week. (anthony.harrup@wsj.com)

Brent Set for Weekly Loss of More Than 7% as Hormuz Impasse Worries Markets

1406 GMT – Oil prices are little changed, with Brent headed for a weekly loss of more than 7% as hopes for a swift reopening of the Strait of Hormuz have faded. Brent crude is up 2.7% to $108.56 a barrel, while WTI futures rise 2.9% to $99.71 a barrel. At the end of a two-day summit with Chinese leader Xi Jinping, U.S. President Donald Trump said China agreed that the war in Iran should end and ship traffic through the Strait of Hormuz be free. Still, a lack of progress in U.S.-Iran negotiations is making markets nervous. “The longer the Strait of Hormuz remains blocked, the more attention is focused on inventory levels,” analysts at Commerzbank say. “If the U.S. Department of Energy’s weekly inventory report shows another significant drawdown in U.S. oil stocks, this is likely to support oil prices.” (giulia.petroni@wsj.com)