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Lilleyman, Norwell join Zenith Energy board

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Lilleyman, Norwell join Zenith Energy board
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XEQT:CA: Looking Beyond Today’s Market Leaders (TSX:XEQT:CA)

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Allspring Special Small Cap Value Fund Q4 2025 Portfolio Review

This article was written by

I am a corporate finance professional with over ten years of experience in financial planning, capital budgeting, and risk assessment. As a long-term investor, I invest exclusively in funds and do not pick individual stocks. My approach is evidence-based: low costs, broad diversification, strategic asset allocation, and patience through market cycles. My motivation for writing is twofold: first, to help other long-term investors, especially women and those new to fund investing. I focus on what truly drives returns: costs, diversification, and time in the market. Second, to bring rigorous, data-driven fund analysis to a platform often dominated by single-stock commentary. I write to learn, share, and build a community of patient investors who value sleeping well at night over chasing short-term gains.

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.

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.

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Novo Nordisk sues Eli Lilly over GLP-1 ads

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Novo Nordisk sues Eli Lilly over GLP-1 ads

Photo illustration of a group of weight loss medications on a white background.

Ucg | Universal Images Group | Getty Images

Novo Nordisk on Tuesday filed a lawsuit against Eli Lilly, alleging that its advertising campaigns for its blockbuster obesity and diabetes drugs are designed to mislead consumers about their superior efficacy relative to the Danish drugmaker’s rival injections. 

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Novo is specifically taking issue with nationwide ads that cite what it called “outdated” clinical trials to compare the highest doses of Lilly’s medicines to lower doses of Novo’s drugs. For example, those campaigns don’t include new evidence about Novo’s recently approved high-dose version of its obesity injection, Wegovy, which entered the market in March and brings weight loss that’s more comparable to Lilly’s products.

That “leaves them with the inevitable conclusion that Lilly’s medicines are superior to Novo’s, and that’s not accurate,” said John Kuckelman, Novo’s group general counsel, in an interview on Monday. He said the suit comes after Lilly refused to pull down or correct certain ads despite a formal cease-and-desist request from Novo back in April. 

In the suit filed in the U.S. District Court for the District of New Jersey, Novo asked the court to permanently stop Lilly from running the ads and require the drugmaker to issue corrective advertising. Novo is also seeking financial damages, though it’s unclear how much. The company said it has also warned Lilly that if the ads are not removed voluntarily, it plans to seek a preliminary injunction in the coming days to block them immediately while the case proceeds. 

Lilly did not immediately respond to a request for comment. 

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The suit comes as Novo wages an aggressive battle against Lilly to regain market share in the GLP-1 space, positioning its new obesity pill, strategic price cuts and the new high-dose Wegovy to compete with its rival’s top-selling obesity injection Zepbound and diabetes counterpart Mounjaro.

In recent years, Lilly’s medications have become the preferred treatments in the space among many providers and patients due to their high efficacy. But high-dose Wegovy, which showed an average weight loss of around 19%, is a direct answer to that. 

Issues with ‘outdated’ trials

Novo said it is specifically bringing federal and state unfair competition and false advertising claims, including under the Lanham Act, which pharmaceutical companies have relied on in the past to hold competitors accountable for deceptive advertising. 

The suit alleges that Lilly’s campaigns across television and social media are harmful because consumers often rely on advertising to form their understanding of GLP-1s, unlike healthcare professionals, who have access to the full scientific evidence available. 

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“Lilly’s advertising campaign deprives consumers of the truthful, current, and complete information they need to make informed decisions about their available treatment options,” the suit said. 

The lawsuit cites a TV commercial presenting Zepbound and Wegovy in a direct side-by-side comparison, stating visually and verbally that patients on Lilly’s drug lose 50 pounds on average compared to 33 pounds on the 2.4-milligram dose of Novo’s treatment. That’s based on a previous head-to-head clinical trial comparing the highest doses of Zepbound to the 1.7- and 2.4-milligram doses of Wegovy. 

But Novo said in the suit that a more recent study shows that the high-dose 7.2-milligram dose of Wegovy helped patients lose 47 pounds on average, which is “clinically consistent” with Zepbound’s weight loss in Lilly’s most recent rigorous trial on the drug. 

Novo said Lilly acknowledges the existence of that high-dose Wegovy in a “small footnote,” but called it “ambiguous, confusing, virtually illegible, and wholly inadequate,” as it does not communicate that it is significantly more effective than the lower doses of the drug. 

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In the suit, Novo added that no head-to-head trials have compared the highest doses of Wegovy and Zepbound currently available on the market, so Lilly has “no basis to make these comparative claims” that its drugs are more effective. 

“While it may have been accurate to say that before 7.2 milligrams became available for Wegovy, it is no longer accurate to say that,” said Kuckelman. “They have, we think, a legal obligation, but even more important, they have a responsibility to patients to share accurate information.”

The suit added that the Zepbound TV commercial has received more than 700 million impressions since it began airing around the end of April, which demonstrates the scale of the competitive harm to Novo. 

The suit alleges that Lilly takes the same approach when comparing the efficacy of Mounjaro and Ozempic in its ads, withholding new data on a higher dose of Novo’s drug that was approved more than four years ago. 

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“We feel that we have a very strong case here that we can show that Lily has indeed misled consumers with the advertising,” Kuckelman said. 

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Paramount and Warner Bros mega merger paused by judge

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A US federal judge has temporarily blocked the proposed $110bn (£85bn) merger between media giants Paramount Skydance and Warner Bros Discovery.

The decision follows a lawsuit brought by a coalition of 12 US states, including California and New York, aiming to halt the deal over concerns it would stifle competition and raise consumer prices.

Prosecutors representing the states said merging two major studios would cause “substantial harm on movie theatres, basic cable distributors, and, ultimately, audiences nationwide”.

In response, the media giants argued that the states had misread the market and that merging would improve streaming efficiency.

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US district judge Araceli Martínez-Olguín issued the temporary restraining order on Monday following legals arguments heard last week.

Under the 14-day injunction, neither company can finalise the deal or start joining the businesses together.

In her ruling, the judge noted that the state coalition raised “serious questions” regarding the deal’s impact on movie distribution.

She warned that allowing the merger to proceed now would make it “extraordinarily difficult to unscramble the egg” if the court decided later to block it all together.

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Judge Martínez-Olguín also pushed back against the companies’ arguments, highlighting that “public’s vital interest in antitrust enforcement” outweighed any temporary delay to the merger.

She said that Paramount and Warner Bros “will continue to operate as separate, viable companies competing in the marketplace” while legal proceedings continue.

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Thousands of websites taken down for illegal World Cup streams

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Almost 3,000 websites have been blocked or seized for illegally streaming World Cup matches, the US Department of Justice (DOJ) has said.

More than 1,000 domains were shut down in the US alone during the tournament, with a similar number blocked in Colombia.

Enforcement agencies in America and across South America carried out the action under investigations named “operation offsides” and “operation red card”.

Ivan J. Arvelo, director of the National Intellectual Property Rights Coordination Center (NIPRCC), said unauthorised broadcasting of World Cup matches violated intellectual property rights and “fuels criminal organizations”.

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The DOJ said at the end of last month it had taken down 400 webpages over illegal World Cup streaming. Now hundreds more have been taken down or blocked.

“The sustained effort to seize more than a thousand domains dedicated to illegally streaming the World Cup confirms the administration’s commitment to intellectual property rights and to the success of the 2026 FIFA World Cup,” said the DOJ’s assistant attorney general A. Tysen Duva.

The enforcement has been largely overseen by Immigration and Customs Enforcement (ICE), a federal agency that includes the NIPRCC.

The illegal streaming of sports often happens through webpages or websites created specifically for the event. Companies and broadcasters have estimated, external the activity costs them billions of dollars a year.

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Due to its global popularity, football has been found to be pirated at an “industrial scale”, according to analysts. The increasing cost of rights deals for matches has resulted in higher prices for fans at home, especially if they choose to pay for multiple services to watch their team play.

It has led to some fans turning to illegal streams of big games to avoid such costs.

Charles Rivkin, chairman of the Alliance for Creativity and Entertainment (ACE), which aims to combat digital piracy and helped in the police effort, said on Monday that the World Cup was the “kind of global live event that piracy networks move quickly to exploit”.

The crackdown on illegal streaming was also supported by Fifa, which organises the World Cup, beIN Media Group, NBC Universal, Ultimate Fighting Championship, and Warner Brothers.

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Much of Fifa’s revenue comes from the sale of broadcasting rights to the various global media networks that want to televise matches.

Fifa and the other media entities did not immediately respond to requests for comment.

The Colombian Attorney General’s Office said it had even made several arrests in connection with the operations.

Four members of what was referred to as the “cybercriminal group” Los Ciberinfiltrados were arrested for allegedly gaining and distributing access to World Cup games illegally.

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Another 830 websites in Argentina, Ecuador, Peru, Brazil and the Dominican Republic were also taken down.

As well as illegal streaming, police in Colombia conducted “nationwide search-and-seizure operations” around counterfeit sports clothing.

The DoJ said 11 people in the country has been arrested and convicted for the illegal manufacture and distribution of fake sporting merchandise.

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Families skipping meals during school holidays, warns charity

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Families are skipping meals to make ends meet during the school holidays, a charity has warned.

FareShare Sussex & Surrey says some parents are facing extra food costs as children cannot access free school meals over the summer break.

Dan Slatter, chief executive of the charity, told the BBC there was a “mountain of need. There’s a growing number of people that are facing food insecurity or even more extreme hunger.”

The government funds local authorities across England to run holiday activities and food camps, which are known as Club4 in Surrey.

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These camps are only for children who receive benefit-related free school meals, Surrey County Council says on its website.

Steve, a senior warehouse manager at FareShare Sussex & Surrey, said he used a food bank when he was homeless with his daughter 11 years ago.

“All the benefits I was getting were going on fuel to get my daughter to and from school every day,” he told the BBC.

“We were struggling.

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“I didn’t want to ask for help, but it got to the point where we weren’t eating.”

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Somerset dad facing difficult summer as food larder donations plunge

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“If this trend keeps happening one or two years down the line, I don’t know,” she said.

“We can’t keep buying food [and] if people can’t afford to donate the food then we’ll struggle.”

Loki Stokes, the food bank’s food logistics manager, added that he has “never seen our stock this low”.

“We try to hold a week’s buffer across all nine outlets, but this summer that’s getting hard to promise,” he said.

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A Somerset Council spokesperson said the authority recognised that many households continue to face financial pressures due to the ongoing cost of living crisis.

“These pressures will increase for many families over the summer holidays.

“The three years of government funding provided through the Crisis and Resilience Fund enable us to build on our strong partnerships with organisations across Somerset, helping to ensure that residents who need support can access it close to where they live,” they added.

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Aussie shares trim losses, gold bounces on truce hopes

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Aussie shares trim losses, gold bounces on truce hopes

Australia’s share market has pared its early losses to end the session roughly flat, as oil prices ease on hopes diplomacy could end a recent re-escalation of the US-Iran conflict.

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Visionary Mason Jappa Shares Entrepreneurial Insights from a Decade of Company Building

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Visionary Mason Jappa Shares Entrepreneurial Insights from a Decade of Company Building

When business moves fast, technology entrepreneur Mason Jappa slows his thinking down.

That instinct may seem counterintuitive for an entrepreneur who considers speed one of a founder’s greatest advantages. Yet after a decade of company building in emerging technology markets, Jappa has watched confidence turn into carelessness. Downturns expose weak balance sheets and fragile teams, but rapid growth can distort judgment just as quickly.

“The moments I’ve made my worst decisions were always when I was caught up in momentum rather than anchored in fundamentals,” Jappa said in a recent interview. “I now treat rapid growth as a time to slow down intellectually, to ask harder questions, stress-test assumptions and make sure the foundation is solid before building higher.”

Founders need enough urgency to move before the market catches up, but enough discipline to keep speed from replacing sound judgment.

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Experience reshaped Jappa’s definition of leadership. Early in his career, he relied on personal conviction, long hours and an ability to persuade others to believe in an idea before the broader market did. That intensity helped him gain ground in an industry many people still dismissed. Over time, he learned that founder energy may launch a company, but durable systems and capable teams must carry it through changing market cycles.

Mason Jappa’s entrepreneurial journey began with a conviction that Bitcoin represented more than a volatile asset. When he discovered Bitcoin and the broader blockchain ecosystem in 2012, he saw infrastructure, a decentralized financial network that could give individuals greater control over their money.

In 2017, he founded Blockware Solutions to help Bitcoin miners source hardware, secure hosting and navigate an opaque, fragmented market. He combined a background in finance and enterprise technology with a willingness to enter the blockchain industry before it gained widespread acceptance.

Jappa said the company generated more than $500 million in revenue and helped deploy more than 400,000 mining machines. His team also produced research that reached more than 1 million readers and earned citations from Forbes, CoinDesk, Wired and other publications.

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He also helped Blockware Mining secure clearing privileges at the Chicago Mercantile Exchange, a milestone he viewed as evidence that institutional markets had begun to take Bitcoin mining infrastructure seriously.

Those achievements reinforced a broader company-building lesson. In an unfamiliar market, credibility can create an advantage that capital alone cannot buy.

“In an industry full of noise, we built trust through education,” Jappa said. “That trust became our most durable competitive advantage.”

Jappa Says Build the Team Before the Cycle Turns

Rapid growth can make founder intensity look like a complete leadership system.

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Mason Jappa once believed the founder should set the pace, carry the clearest vision and work harder than anyone else in the organization.

“When I started Blockware in 2017, my leadership model was essentially: have the strongest conviction in the room and outwork everyone,” he said. “And honestly, that got us a long way.”

That approach created urgency, but it placed much of the organization’s momentum on one person. Industry contractions eventually exposed the limits of a company powered primarily by its founder.

“Bitcoin markets are brutal teachers,” he said. “When the price collapses and the industry contracts, you find out very quickly whether you built a team or just assembled a group of people around your own momentum.”

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His approach to leadership evolved through periods of growth and difficulty. Jappa became more deliberate about developing employees, acknowledging what he did not know and allowing the strongest idea to prevail regardless of who proposed it. Instead of remaining the central source of energy and answers, he focused on building a team that could think, decide and execute under pressure.

“The best decisions I’ve made have been about people,” Jappa said. “Bitcoin mining taught me that businesses built for the bull market collapse in the bear market. I’ve always tried to build for durability.”

Founders do not need less conviction. They need to turn that conviction into shared capability before the market tests the organization.

Speed and Focus Before Scale

Mason Jappa’s advice to founders reflects hard-earned experience in industries where technology, capital and public perception can shift within months.

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He places speed and focus ahead of funding and connections because founders can control the first two. They can choose how quickly they test an idea, how decisively they respond to evidence and how carefully they protect the company from distractions.

“Capital follows execution. Connections follow credibility,” Jappa said. “Both of those follow a founder who moves decisively and stays locked on what actually matters.”

Speed does not mean chasing every opportunity. It means shortening the distance between insight and action. Focus requires founders to protect the company’s central mission when hype and outside pressure create tempting detours.

That discipline matters most when an entrepreneur operates ahead of consensus. Emerging markets rarely offer clear proof at the beginning. Jappa believes founders must become comfortable acting while others remain skeptical, provided they can support their conviction with research, operating knowledge and a defined advantage.

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“The founders who win in rapidly evolving industries are almost always the ones who saw the wave coming and paddled hard before anyone else was in the water,” he said.

Jappa applies three filters when evaluating technology ventures. The technology must solve a problem that exists at scale, the market must have reached the right infrastructure moment and the founder must possess an advantage that competitors cannot easily reproduce.

The framework helps separate foresight from trend-chasing. Being early has little value when the problem is imaginary, the timing is wrong or the business lacks a defensible position.

Mason Jappa: ‘Build Your Reputation Like It’s Your Most Valuable Asset’

Founders often track cash, customer growth and market share before they measure trust. Jappa argues that reputation deserves the same strategic attention as any other core asset.

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“Build your reputation like it’s your most valuable asset, because it is,” he said. “In fast-moving industries, trust is scarce and credibility travels fast in both directions.”

Jappa built visibility through research, media relationships and consistent execution. He did not treat communication as a promotional layer added after the business matured. He used it to help investors, partners and customers understand an unfamiliar market.

He calls storytelling infrastructure because clear communication supports nearly every part of a growing company. It gives employees a shared language for the mission, helps investors understand the business beyond its projections and shows customers why the company’s approach differs from its competitors.

A strong narrative cannot rescue a weak strategy. Founders still must deliver results. But even a valuable business can struggle when its leaders cannot explain what it solves or why the market should trust it.

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The same principle shapes Jappa’s view of fundraising. After raising more than $100 million across multiple entities, he came to see capital as a tool rather than an objective.

“The best way to raise it is to not need it,” he said.

Companies gain leverage when they can show revenue, demand and a credible path to growth before approaching outside investors. Founders also must study the structure of capital, not only the amount. An impressive funding announcement can conceal terms that weaken the business over time.

A Decade of Building, Distilled

Over the past decade, Mason Jappa has learned that entrepreneurship rewards conviction, but it tests judgment.

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Founders must act before certainty arrives. They also must know when to question their assumptions, strengthen the organization beneath the growth and resist believing that momentum proves every decision correct.

Jappa views market cycles as leadership tests. A downturn shows whether the company can endure pressure. A surge shows whether leaders can protect the business from excess confidence, careless spending and a false sense of permanence.

“I’ve seen more founders destroyed by a good market than by a bad one,” he said. “Build like the cycle is always about to turn, because eventually it will.”

Jappa still believes entrepreneurs create value by recognizing possibilities before the crowd does. Experience has made him more selective about what deserves that belief and more deliberate about what must follow it.

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The work does not end when the market validates an idea. That is when founders must build the systems, leadership and trust required to carry it further.

Strong founders, he believes, do more than arrive early. They build organizations designed to endure after the rest of the market catches up.

“The role I hope to play is the same one I’ve always aimed for: being the operator who builds the infrastructure layer before the crowd arrives and doing it in a way that leaves the industry more open, more competitive and more resilient than I found it,” Jappa said.

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Alphabet Q2 Preview: Brace For A Blowout EPS That Won’t Mean What You Think (NASDAQ:GOOGL)

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Alphabet Q2 Preview: Brace For A Blowout EPS That Won't Mean What You Think (NASDAQ:GOOGL)

This article was written by

Thematic. Top down. I often find the theme before I find the stock. My philosophy is that themes are often born quiet and die loud. I try to catch them while they’re still finding their voice. When the music plays, I mainly chase pockets that rhyme with growth, momentum, perception shifts, and sometimes even the most absurd narratives (mostly AI-related). When the music slows and the tape deteriorates, I don’t wait around. I raise cash/rotate out, and watch for the next setup. A parabolic run may trigger a similar move. During a bull run, you won’t find much common ground between the deep value crowd and me. I liked the core ideas of deep value investors, and I briefly followed that philosophy. However, it demands patience, and the AI supercycle broke whatever patience I had left. The market changed, and so did I. My style is not set in stone. I’m mostly long when the music is playing. When it stops/slows down, I may dabble with shorts via put options, although it’s not my forte. My style is highly speculative. I have a high risk tolerance that most rational investors would find alarming. I don’t have a favorite timeframe. That said, I trade mostly the mid-term and the short-term. I have a pathetic low six-digit portfolio, and I consider myself part of the mid to low end of the K-shaped economy. It sometimes drops to the five-digit range when life has other plans. I’ve been in the game since mid 2024, although my first dabbles with stocks (i.e., burning $100 trading accounts in a matter of days) go back to the early/mid 2010s. I have a B.Sc. in aeronautical engineering and experience as a consultant in the aerospace sector. The latter statement is not relevant to my investment style, but I thought to add it for self-indulgent purposes. I live on the wrong side of the Atlantic. The opening bell is my lunch bell. I like astrology, so I’m a follower of technical analysis (mainly trends and support/resistance/psychological levels). I also look at the fundamentals of individual names, although the theme and the macro often prevail in my decision-making. I dislike empty suits, high-level BS, deep-level BS (especially), unnecessary jargon, and self-indulgent, third-person written introductions with an air of superiority.

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.

I am not a registered investment adviser, broker, dealer, or tax professional. This article, including any comments or replies I post, reflects my personal opinions only and is provided for informational and educational purposes. Nothing I write is investment, legal, tax, or financial advice, or a personalized recommendation to buy, sell, hold, or short any security. My views may change without notice. Nothing I write is tailored to any reader’s objectives, financial situation, risk tolerance, or portfolio. Investing involves risk, including possible loss of principal. Readers should conduct their own research and consult a qualified professional before making investment decisions.

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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.

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Thai Government Extends Stay and Work Period for Three Migrant Worker Groups

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Thai Government Extends Stay and Work Period for Three Migrant Worker Groups

The government extended temporary stay and work authorization for eligible migrant workers from Myanmar, Laos, and Vietnam until December 11, 2027, addressing labor shortages and economic stability in critical sectors.


Key Points

  • The government has extended temporary stay and work authorization for eligible migrant workers from Myanmar, Laos, and Vietnam until December 11, 2027, ensuring economic stability and addressing workforce shortages. This decision, announced by Deputy Government Spokesperson Patdarasm Thongsaluaykorn, specifically benefits currently registered workers.
  • This extension prevents potential disruptions in industries like manufacturing, construction, and agriculture, crucial for major industrial and tourism areas. It aims to help employers maintain workforce continuity and avoid production suspensions.
  • Relevant agencies will enhance worker databases and improve documentation processes while the Ministry of Labor will issue new regulations. Employers are advised to follow official sources to avoid scams related to payments or benefits.

The government has extended temporary stay and work authorization for eligible migrant workers from Myanmar, Laos, and Vietnam until December 11, 2027, to support economic stability and address labor shortages.

​Deputy Government Spokesperson Patdarasm Thongsaluaykorn announced that the Cabinet approved the extension on July 14, 2026. This measure applies only to current workers already registered in the government system and does not allow new registrations.

​Many migrant workers’ permits were set to expire at the end of 2026. Without this extension, businesses relying on these workers could face disruptions in manufacturing, construction, services, and agriculture, especially in major industrial and tourism areas.

​This measure will help employers maintain workforce continuity and reduce the risk of production suspensions or temporary closures.

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​During the extension, relevant agencies will enhance migrant worker databases and integrate information systems. This initiative aims to ensure proper documentation, strengthen oversight, reduce irregular immigration and unauthorized employment, and help businesses meet international labor standards.

​The Ministry of Labor will issue detailed regulations and procedures, and will work to simplify documentation and speed up processing.

​Employers and business operators should follow official announcements from the Department of Employment at www.doe.go.th or contact the Ministry of Labor hotline at 1506, then press 2. Authorities urged the public to rely only on official information to avoid fraudulent requests for payments or benefits.

Source : Thai Government Extends Stay and Work Period for Three Migrant Worker Groups

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