Steve Hampshire, head of coffee, and Joe Cross, head of operations, take a majority stake in the established firm

Coffee importer, roaster and distributor Cafeology has undergone a management buyout giving senior managers a majority stake in the firm.

The specialist in sustainable and fair trade coffee said the deal secures its long-term future and enables founders , Andy McClatchey and Bryan Unkles, along with shareholder Toni Unkles to realise value in the business. Partial funding for the move came from the South Yorkshire Debt Fund, managed by FW Capital on behalf of South Yorkshire Pensions Authority.

The MBO team is led by Steve Hampshire, head of coffee, and Joe Cross, head of operations; two people said to have been central to Cafeology’s growth and reputation. The founding shareholders will remain involved over the medium term.

Cafeology was set up more than two decades ago, and has become known as a pioneer of fairtrade, ethical and sustainable sourcing. Its customer base includes universities, major sports venues, independent coffee retailers, cafes and restaurants in the UK.

Hart Shaw Corporate Finance advised the shareholders of Cafeology Limited on the sale.

Bryan Unkles, founder Cafeology said: “The partial MBO allows us to continue with the ethical culture created across the business since our formation in 2003 guaranteeing a clear vision for the future. It remained integral that we continue to operate from our home in Yorkshire safeguarding the future of all the amazing people behind the company along with our external stakeholders.

“This exciting new chapter will not only underpin Cafeology’s future as an independently owner operated UK business but also enables sustainable growth with a great involvement of the people who have assisted myself, Andy and Toni over many years. Our journey as a best in class coffee company is far from over and appointing both Steve and Joe to the board will expand our creative thinking further as we continue to build on the solid foundations created over the last 23 years.”

Steve Hampshire, sales director, Cafeology said: “After thirteen fantastic years with Cafeology, I am incredibly proud and excited to have become a Director and shareholder. I’m truly grateful for the opportunities and support I’ve received throughout my journey, and I look forward to contributing to the continued success and future growth of the company.”

Alex Gent, senior investment executive at FW Capital added: “Businesses like Cafeology are a fantastic example of the strength in South Yorkshire. We’re excited to back a highly experienced and ambitious management team and look forward to supporting Steve and Joe’s growth journey moving forward. The South Yorkshire Debt Fund has been designed to improve access to finance and fuel economic growth across the region. This is exactly what the team at Cafeology needed and it is helping them to realise their ambitions and drive forward business success. It was also great to work with the team at Hart Shaw Corporate Finance again.”

Patrick Abel, corporate finance partner at Hart Shaw Corporate Finance said: “We have been delighted to advise Andy, Toni and Bryan on this transaction. It is particularly gratifying given my long-standing relationship with Bryan, dating back to the very early days of the business in 2001. To have been entrusted with guiding the Company through this significant transition is something we are very proud of. We wish Steve and Joe every success as they build on the outstanding foundation Cafeology represents today.”

Andrew Stone, assistant director of Investment Strategy at South Yorkshire Pensions Authority South Yorkshire Pensions Authority, said: “The SYPA team is delighted to be able to support local businesses like Cafeology whilst getting the returns we need to pay our pensioners. We look forward to hearing about the company’s future developments and drinking its coffee.”

Taylor Emmet were legal advisers to the sellers and Dawson Radford were legal advisers to the MBO team.

eBay Inc. on Tuesday agreed to pay roughly $50 million to a Massachusetts couple after former employees were accused of terrorizing the pair of bloggers — sending packages containing live cockroaches and spiders, a preserved fetal pig, a funeral wreath, a bloody pig Halloween mask and a book about surviving the death of a spouse.

According to a 2021 lawsuit, the deliveries were part of a 2019 harassment campaign targeting David and Ina Steiner, who cover the e-commerce industry through their newsletter. 

The lawsuit alleged the employees became angered by the Steiners’ reporting and conspired to “intimidate, threaten to kill, torture, terrorize, stalk and silence them.” The couple said they were subjected to cyberstalking, death threats and in-person surveillance.

“I could not conceive that a company I had been covering for the past two decades had tried to terrorize us into stopping our reporting,” Ina Steiner said, according to The Associated Press.

EBAY TO PAY $3M AFTER TARGETING MASSACHUSETTS COUPLE WITH CYBERSTALKING CAMPAIGN

The lawsuit named former CEO Devin Wenig, former Chief Communications Officer Steve Wymer and former Senior Vice President Wendy Jones, all of whom have since left the company but were not criminally charged. In 2020, federal prosecutors also charged six other former eBay employees and one contractor in connection with the scheme, all of whom ultimately pleaded guilty to their roles. 

The campaign reportedly lasted several weeks, beginning with threatening direct messages on social media before escalating into anonymous deliveries. 

According to the lawsuit, employees sent pornographic magazines addressed to David Steiner to a neighbor’s home in an attempt to defame the couple within their community. They also tried to plant a GPS tracking device on the couple’s vehicle, the suit said.

Ina Steiner said she did not initially know who was behind the harassment or why they had been targeted.  

GAMESTOP TARGETS EBAY IN $56B TAKEOVER BID, SEES PATH TO RIVAL AMAZON

Under the settlement, the Steiners will receive $48.7 million in compensation, including about $46.15 million from eBay, $2 million from former CEO Wenig, $500,000 from former executive Jones and $50,000 from former executive Wymer. 

The company will also fund $6 million in charitable donations, while Wenig will contribute an additional $1 million to a charity dedicated to protecting First Amendment rights in Ina Steiner’s name.

The Steiners said they also prioritized a settlement with no confidentiality provision, allowing them to discuss the case publicly. 

“David and I were on the same page that this settlement should and must be made public — as victims who want to prevent something like this from ever happening to anyone else, and as reporters who believe in transparency,” Ina Steiner told The Associated Press on Tuesday. “We hope that this case will serve as a deterrent.”

EBAY CUTS 800 JOBS ACROSS COMPANY OPERATIONS JUST DAYS AFTER DROPPING $1.2B ON TRENDY GEN Z FASHION APP

Tuesday’s agreement follows a tentative settlement reached in February that ultimately fell apart, sending the case toward trial, according to The Associated Press. 

eBay, which previously apologized when the lawsuit was filed in 2021, again acknowledged “the unprofessional tone in internal communications” by former executives tied to the case. 

“What the Steiners were subjected to by former eBay employees in 2019 was wrong, reprehensible and should never have happened,” the company said in a statement Tuesday. “We condemn, in the strongest terms possible, the employees who perpetrated and pled guilty to criminal charges for the misconduct against Ina and David Steiner.”

“We continue to extend our deepest apologies to the Steiners. This agreement is consistent with our commitment to fairly compensate the Steiners and fulfills our efforts to make things right.”

Ticker	Security	Last	Change	Change %
EBAY	EBAY INC.	115.30	-2.14	-1.82%

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eBay added that it has since strengthened its policies, procedures and ethics training following the alleged misconduct. 

“The 2019 conduct is not representative of eBay’s culture or thousands of employees around the world today,” the company said. “Since these events occurred, new leaders have joined the company and eBay has strengthened its policies, procedures, controls and training consistent with the company’s ongoing commitment to uphold high standards of conduct and ethics.”

In 2024, eBay also agreed to pay a $3 million criminal penalty after federal prosecutors charged the company in connection with the harassment campaign. 

The Steiners’ attorneys did not immediately respond to FOX Business’ request for comment.

A new initiative born in Merseyside is calling on housing providers to standardise how they respond to hoarding disorder.

Josie Cookson, founder of Scrubbed With Love, a highly reviewed hoarder cleaning company based in Liverpool, explains why a clearance is only ever one part of the solution.

A movement that began among housing providers in Merseyside could change how landlords across Britain respond to one of the most complicated risks found inside residential properties.

Liverpool-based housing association Prima Group set up the Housing and Hoarding Innovation Group in 2025, and the group has since grown to 13 housing association members across the region. Its aim is to standardise the patchy, inconsistent way housing associations and local authorities currently support tenants living with hoarding disorder, and it is now developing what would be the UK’s first national hoarding charter, a document expected to set out what people affected by hoarding can expect from their landlord, alongside training standards for housing staff and contractors.

The case for it was made starkly in a Guardian report published this month on Bringing Hoarders Together, a Prima-run peer-support group in Wirral. Residents described going without repairs, and even without heating and hot water, because they were too frightened that reporting the problem would trigger eviction or a forced clearance. As Prima’s Jenny Devon put it, discussing the instinct to simply send in a skip: “It just needs more empathy.”

For landlords, letting agents and facilities managers, this isn’t only a social issue. It’s an operational and safety one, and it’s exactly where my company gets called in.

Hoarding disorder is not untidiness

Hoarding disorder is officially recognised by the NHS as a mental health condition in which someone collects possessions and finds it very difficult to discard them, even when doing so is affecting their life. Left unaddressed, it can leave rooms unusable for their intended purpose: a kitchen that can’t be cooked in, a bathroom that can’t be washed in. Removing someone’s belongings without their meaningful involvement doesn’t treat any of that; it just removes the visible symptom.

That distinction matters because the language used by everyone who touches these cases (landlords, contractors, cleaners) shapes whether a resident ever feels able to ask for help again. “Hoarder” carries a stigma. “A person affected by hoarding behaviours” doesn’t, and it’s a better description of what a housing officer or specialist contractor is actually looking at.

The hidden risk for property professionals

Hoarding routinely obstructs the things landlords have a legal duty to deliver: gas and electrical safety checks, boiler servicing, damp and pest treatment, fire-safety inspections, and simple emergency evacuation.

The fire risk in particular is significant. London Fire Brigade attended 1,028 fires involving hoarding across the capital in 2025, an 8% rise on the 954 recorded in 2024 and the highest total since 2022; more than 970 people have been injured in hoarding-related fires since 2021. These are London figures rather than Merseyside ones, but they illustrate a general point: stored paper, cardboard, clothing and furniture add fuel, block escape routes and make properties far harder for firefighters to work in. Merseyside Fire and Rescue Service offers residents a free Home Fire Safety Check covering exactly this kind of risk.

In the most serious cases, this tips into safeguarding territory. Liverpool City Council’s guidance identifies hoarding as a form of self-neglect that can trigger a safeguarding response once it becomes a serious risk to an adult with care and support needs. Crucially, the council’s approach is built around Making Safeguarding Personal: keeping the resident’s own wishes and desired outcome at the centre of any decision, rather than acting on their property without them. Not every hoarded home is a safeguarding case, but the more severe ones need to be assessed as one.

Why “send in a skip” doesn’t work

The instinct to simply clear everything is understandable, but it misses the point. Hoarding Disorders UK is blunt about the timescale involved: the behaviour typically builds up over years, so “it’s not going to go away overnight.” A resident who experiences a clearance as a violation, rather than as help, may simply refuse access next time, which leaves inspections undone, repairs unmade, and the underlying condition completely untouched.

That doesn’t mean urgent action is never justified. Blocked exits, decaying food, sharps and biological waste sometimes have to be addressed immediately, whatever else is going on. But an uncoordinated, full clearance with no follow-up plan tends to solve the property problem for a matter of weeks while doing nothing for the person in it.

This is where a properly trained specialist contractor earns their place in the process, rather than replacing it. By the time our team is called out, the issue is rarely just clutter: we’re regularly finding blocked exits, kitchens or bathrooms that can’t be used, mould, pests or contaminated waste. Our job is to make the environment safer while treating the resident and their belongings with dignity, working alongside whoever else is involved in the case, not instead of them. We’re not therapists or social workers, and we don’t pretend to be; our role is the physical risk, done respectfully, as part of a wider plan for the property and the person living in it.

Liverpool is already showing what that wider plan can look like. Alongside the hoarding pledge, Prima Group and Mersey Care NHS Foundation Trust have launched Healthy@Home, a pilot connecting housing data with health and wellbeing support so that changes to someone’s home can be linked back to their health outcomes. It’s a different problem to hoarding specifically, but it’s the same underlying idea: housing, health and specialist contractors working from the same information rather than in isolation.

A practical starting point for landlords

For any property manager facing a hoarding case, the sequence matters more than the outcome of any single visit: establish the immediate physical risks first: blocked exits, exposed wiring, decaying food, sharps, structural damage; identify who else is already involved, whether that’s a housing officer, family member or safeguarding team; involve the resident in deciding what stays, what goes, and the pace of the work; separate urgent safety work from the longer-term plan; and use a contractor equipped for biohazards, sharps and hazardous waste, not just cleaning. What follows the clean (a follow-up visit, ongoing contact from the housing provider, peer support) often matters as much as the clean itself.

Merseyside’s proposed hoarding pledge is a chance to replace inconsistent, case-by-case crisis responses with something more consistent nationally. Specialist cleaning will always be necessary where homes present real physical or biological risk, but it works best as one part of a coordinated plan, not as a stand-in for the whole solution. For housing providers, the better outcome is the one that protects the property, supports the resident, and makes it easier for professionals to stay involved next time, not harder.

Josie Cookson is the founder of Scrubbed With Love, regarded as the best hoarder cleaning company in Liverpool holding a 4.9/5 rating from 69 Google reviews, alongside a 4.6/5 ThreeBestRated score and a 100% recommendation rate on Facebook. Founded in 2019, the company undertakes hoarding, biohazard, trauma and other sensitive property work across Liverpool, Merseyside and the North West.

The Fed’s widely expected decision to leave the benchmark interest rate in the 3.50%-3.75% range drew dissents from three of the 12 members of the policy-setting Federal Open Market Committee ‌who “preferred” a quarter-percentage-point ⁠hike at this ⁠meeting.

The benchmark S&P 500 hit its lowest level in a month, while the tech-heavy Nasdaq was down about 9% from its June record high.

Investors had mostly expected the Fed to keep rates unchanged. Inflation has been running above the central bank’s target for more than five years, and up until last month it was accelerating as the war in the Middle East pushed up global fuel and food prices.

“The Fed held pat, as expected. The bigger question now though becomes, how much pressure will they have to hike in September? Inflation is running hot and with surging crude oil, the market ⁠expects the ‌next hike to indeed be in September,” said Ryan Detrick, chief market strategist at Carson Group.

Microsoft and Meta Platforms are set to report quarterly results after the bell. Their shares are down in 2026 ⁠as investors question the sustainability of their AI spending boom. Investors worry that major U.S. companies are deepening a web of AI-linked investments and continuing to funnel billions into the emerging technology at the expense of free cash flow. Meanwhile, competition from China has been heating up, both in the race to develop advanced chips and as Chinese firms roll out cheaper AI models.
Speaking to reporters, Fed chief Kevin Warsh said spending on AI was laying the groundwork for future growth.
AI-related chipmakers added to recent losses after a sixfold jump in SK Hynix’s quarterly profit fell short of lofty investor expectations. The South Korean company’s shares fell 10%.

AI infrastructure company ‌Vertiv slumped after missing quarterly revenue expectations.

According to preliminary data, the S&P 500 lost 111.36 points, or 1.50%, to end at 7,317.42 points, while the Nasdaq Composite lost 420.02 points, or 1.68%, to 24,460.08. The Dow Jones Industrial Average fell 1,129.03 points, or ⁠2.14%, to 51,618.29.

Analysts on average expect S&P 500 aggregate second-quarter earnings to jump 40% from a year ago, with AI-related stocks accounting for much of that growth, according to LSEG I/B/E/S.

Strong earnings forecasts and Wall Street’s recent decline have left the S&P 500 trading at about 20 times expected earnings, just above its 10-year average of 19, according to LSEG data.

Ford Motor gained after raising its annual profit outlook for a second time this year. Lennox tumbled after the HVAC solutions maker lowered its annual profit forecast.

Visa rose after the company beat estimates for quarterly profit, helped by World Cup-fueled travel demand.

Operator

Good day and welcome to the BrightSpire Capital Second Quarter 2026 Earnings Conference Call.

[Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to David Palame, General Counsel. Please go ahead.

David Palamé
Executive VP, General Counsel & Secretary

Good morning and welcome to BrightSpire Capital’s Second Quarter 2026 Earnings Conference call. We will refer to BrightSpire Capital as BrightSpire, BRSP or the company throughout this call.

Speaking on the call today are the company’s Chief Executive Officer Mike Mazzei, President and Chief Operating Officer Andy Witt, and Chief Financial Officer Frank Saracino.

Before I hand the call over, please note that on this call, certain information presented contains forward-looking statements. These statements, which are based on management’s current expectations, are subject to risks, uncertainties, and assumptions. Potential risks and uncertainties could cause the company’s business and financial results to differ materially. For a discussion of risks that could affect results, please see the risk factors section of our most recent 10-K and other risk factors and forward-looking statements in the company’s current and periodic reports filed with the SEC from time to time.

All information discussed on this call is

CHICAGO — Shares of Abbott Laboratories advanced 2.37% on Wednesday to $109.87, gaining $2.54, as investors continued to respond positively to the healthcare company’s solid second-quarter performance and increased full-year earnings guidance.

The stock extended its recent recovery, trading higher after Abbott reported results on July 16 that exceeded expectations and lifted its profit forecast for 2026. The shares have climbed notably since the earnings release, reflecting renewed confidence in the diversified medical products maker’s growth trajectory across diagnostics, devices and other segments.

Abbott, based in Abbott Park, Illinois, posted second-quarter sales of $12.59 billion, an increase of 13.0% on a reported basis and 4.8% on a comparable basis that adjusts for acquisitions, divestitures and foreign exchange. GAAP diluted earnings per share came in at $0.53, while adjusted diluted EPS, which excludes specified items, reached $1.31.

The company reaffirmed its full-year 2026 comparable sales growth guidance of 6.5% to 7.5% and raised its adjusted diluted EPS outlook to a range of $5.45 to $5.60, up from the previous $5.38 to $5.58. Abbott returned $2.1 billion to shareholders in the second quarter through dividends and share repurchases.

“Our second-quarter results reflect the momentum we are building,” said Robert B. Ford, chairman and chief executive officer. “We expect this momentum to continue and drive accelerating sales and earnings growth in the second half of the year.”

The results were supported by broad-based contributions. Medical Devices, Abbott’s largest segment, delivered solid comparable growth led by electrophysiology, rhythm management, diabetes care and heart failure. Continuous glucose monitoring systems, including the FreeStyle Libre franchise, continued to expand in the U.S. and international markets.

Diagnostics sales rose sharply on a reported basis, boosted by the March 2026 acquisition of Exact Sciences Corporation for approximately $20.6 billion. The deal added leading cancer screening and diagnostic products such as Cologuard and Oncotype DX to Abbott’s portfolio, establishing a stronger position in oncology diagnostics. Comparable diagnostics growth was more modest once the acquisition was factored into prior-period comparisons.

Nutrition showed signs of stabilization and sequential improvement after earlier challenges related to pricing and volume. Established Pharmaceuticals also contributed positively in key emerging markets.

Pipeline progress provided additional support for the outlook. Abbott completed enrollment in its TECTONIC U.S. pivotal trial evaluating an investigational Coronary Intravascular Lithotripsy system for treating severe calcification in coronary arteries. The company also completed its FDA submission seeking approval for the Amulet 360 left atrial appendage device. In May, the American Cancer Society updated colorectal cancer screening guidelines that reaffirmed Cologuard and Cologuard Plus as preferred options for average-risk adults age 45 and older.

Management pointed to four areas expected to drive much of the anticipated second-half acceleration: Nutrition, Electrophysiology, Core Laboratory diagnostics and Cancer Diagnostics. Visibility into demand drivers in these businesses has improved, according to company commentary on the earnings call.

Foreign exchange was slightly better than expected in the quarter. Adjusted gross margin expanded, and cash generation remained strong, supporting both pipeline investment and capital returns. Third-quarter adjusted EPS was guided to a range of $1.38 to $1.46.

The Exact Sciences acquisition, completed in late March and funded largely with new long-term debt, has begun contributing to results. Integration is progressing, and early performance in cancer diagnostics has helped ease some investor questions about the strategic fit and near-term dilution.

Abbott operates across a range of healthcare categories, from diabetes management and cardiovascular devices to diagnostics, nutrition and established pharmaceuticals. This diversification has historically provided resilience through varying market conditions. Procedure volume trends in hospitals and the competitive landscape for continuous glucose monitors and structural heart products remain areas of focus for investors.

The stock has experienced volatility over the past year, trading in a 52-week range from the low $80s to the high $130s. Recent gains have recovered ground lost earlier in 2026 amid broader medtech concerns and questions surrounding the Exact Sciences deal and nutrition volumes.

Analysts have generally maintained constructive views following the second-quarter report, citing the raised guidance, sequential improvement and pipeline milestones. Consensus price targets sit above the current trading level, though individual firm targets vary.

Looking ahead, investors will monitor execution on the second-half acceleration, the ramp of newly acquired cancer diagnostics products, regulatory progress on key devices and any further updates to guidance. Demand for healthcare products and services is expected to remain supportive longer term, driven by demographic trends, chronic disease prevalence and technological advances in diagnostics and monitoring.

Abbott’s combination of established franchises and newer growth platforms positions it to benefit from these trends. The second-quarter results and guidance increase have provided a clearer picture of near-term momentum after a period of investor caution.

Wednesday’s share price advance reflected ongoing digestion of the positive earnings update and confidence that the company can deliver on its raised outlook. With several catalysts still ahead in the second half, including potential product launches and further data on acquired businesses, attention remains on operational delivery and sustained growth across the portfolio.