Business
10% Dividend Yields From Chimera Preferred Shares Offer Trading Opportunities (CIM.PR.B)
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Chimera Investment Corporation (CIM) has three preferred shares we will be discussing. Instead of buying one preferred share and holding it indefinitely, we monitor relative valuations to identify opportunities to swap between preferred shares. We will be going over current valuations and then our trade history for a good example of how we implement that strategy in practice.
Preferred Shares
CIM-B (CIM.PR.B) is currently in the buy range and CIM-D (CIM.PR.D) is currently in our hold range. CIM-C (CIM.PR.C) is in our hold range and would only need to fall below $22.67 to be in our buy range.
One of the biggest advantages of investing in preferred shares is that investors don’t need to take on the risks from the common stock to get an attractive yield. Sometimes the best opportunities come from recognizing when a preferred share is trading at an attractive valuation.
For a long time now, Chimera’s preferred shares have provided an excellent opportunity and example of how we use relative valuations to trade in and out of positions. The chart below highlights those trades.
The following sections will walk readers through our decision-making process on these dates.
March 30, 2026, Buying CIM-C
Back in late March, we believe CIM-C became a great opportunity because it had materially underperformed most of the other mortgage REIT floating-rate preferred shares. That includes the other Chimera’s preferred shares as you can see in the chart above.
At the time, this was the difference in yield:
- CIM-C offered a stripped yield of just over 11%.
- CIM-B offered a stripped yield of 10.98%.
- CIM-D offered a stripped yield of 10.71%.
Looking at those prices, my thought was pretty simple: I bet other investors will bid more for these in the future. That doesn’t require Chimera to suddenly become a better company. It simply requires a valuation gap between very similar securities to shrink.
While we waited, investors were collecting an attractive dividend rate.
April 27, 2026, Harvesting The Gains
Over the following month, that trade worked extremely well.
CIM-C rallied sharply and thoroughly outperformed the comparable preferred shares. As the valuation gap narrowed, the original investment thesis played out.
We decided to harvest the gains.
We weren’t selling because we suddenly disliked Chimera. We weren’t reacting to negative news. We simply recognized that CIM-C had delivered the outperformance we expected.
One of the key values our service provides is the research to help investors find opportunities to swap between similar preferred shares. This was a great example of how we utilize our strategy focusing on relative valuations instead of becoming emotionally attached to a particular ticker.
June 12, 2026, Another Opportunity
Less than two months later, another opportunity developed. Chimera’s preferred shares sold off rapidly over the course of a week. They weren’t even on my radar as potential buys the week before because they had been performing quite well.
Then they tanked.
Whenever I see a move like that, the first thing I want to know is whether the fundamentals changed. I double-checked Chimera’s common stock to see if there had been a major negative shift in investor perception.
Nothing.
The common shares were actually trading higher than they had been a week earlier. The preferred share scenario looked like sellers simply outnumbered buyers and prices declined in response.
Great.
Those are exactly the kinds of situations we like to investigate. After reviewing the fundamentals, I was comfortable purchasing both CIM-B and CIM-C because they had fallen back into attractive valuation ranges. The opportunity wasn’t created by improving fundamentals. It was created by changing prices.
June 17, 2026, Swapping Shares
Only a few days later, another relative value opportunity developed. CIM-C recovered quickly while MFA-C offered a better risk/reward profile, so we made another trade. We sold CIM-C and purchased MFA-C.
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I’m not getting married to these shares.
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I’m not trying to hold them forever.
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I’m simply taking advantage of a more attractive risk/reward profile.
We collect a pretty nice yield while we wait. If prices go up materially, or better opportunities appear elsewhere, we simply swap into the better opportunity.
Final Thoughts
I think these trades demonstrate one of the biggest advantages of following relative valuations instead of simply buying a preferred share and forgetting about it. The goal isn’t to predict where preferred share prices will trade in isolation in the future. The goal is to consistently own the preferred share offering the best upside potential relative to its risk and relative to other preferred shares.
Sometimes that means buying a preferred share that has become cheap. Sometimes it means harvesting gains after relative gaps close. Other times it means swapping into another preferred share because the relative values have shifted.
Today’s ratings reflect the same process we continue to use. We believe CIM-B currently offers the most attractive valuation. CIM-D is approaching our buy range but remains closer to fair value today.
This is how we historically have looked at preferred shares. We expect relative valuations will continue to create opportunities for us in the future.
Business
Vijay Kedia’s new smallcap bet revealed; FIIs raise stake, stock up 15% in one month
At the current market price of Rs 1,755 per share, the value of Kedia Securities’ holding stands at approximately Rs 14.8 crore.
The stock has been on investors’ radar lately, gaining nearly 15% over the past one month. Eimco Elecon currently commands a market capitalisation of around Rs 1,024 crore.
Vijay Kedia’s listed portfolio
While shareholding disclosures for several companies are still awaited, the latest available data shows that Vijay Kedia publicly holds stakes in 23 listed companies, with a combined portfolio value exceeding Rs 1,369.7 crore. Among these, his largest investment by value is in Atul Auto, where his holding is worth around Rs 277 crore.
FII holdings increase
The latest shareholding pattern also indicates improving institutional interest in Eimco Elecon. Foreign Institutional Investors (FIIs) increased their stake from 3.10% in the March 2026 quarter to 3.25% in the June 2026 quarter.
Meanwhile, promoter holding remained unchanged at 48.96%, reflecting continued promoter confidence in the company.
According to Trendlyne’s SWOT analysis, Eimco Elecon stands out on several key fundamental parameters, reflecting a healthy financial position and improving business performance.
The company’s strengths include low debt levels, a consistent improvement in book value per share over the past two years, and zero promoter pledge, indicating a strong balance sheet and better financial discipline.
On the operational front, the company has reported revenue growth for three consecutive quarters, along with strong quarter-on-quarter EPS growth. Additionally, its rising net profit and improving profit margins highlight better profitability and operational efficiency.These factors indicate improving business performance and a healthy financial profile.
Stock performance, valuation & technical indicators
Eimco Elecon has delivered solid returns to shareholders over the long term. While the stock has surged around 15% in the last one month, it has rallied nearly 170% over the past three years, more than doubling investors’ wealth during the period.
The stock is currently trading at Rs 1,755, significantly below its 52-week high of Rs 2,588, while its 52-week low stands at Rs 1,405.50.
From a valuation perspective, the stock trades at a price-to-earnings (P/E) ratio of 26.1 and a price-to-book (P/B) ratio of 2.21.
On the technical front, the 14-day Relative Strength Index (RSI) stands at 55, indicating neutral momentum. Generally, an RSI below 30 is considered oversold, while a reading above 70 is considered overbought. The stock also maintains a positive technical setup, trading above 6 out of its 8 key simple moving averages (SMAs), suggesting that the broader trend remains constructive.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business
July 14, 2026 Solution for Puzzle #1851
Wordle players hunting for Tuesday’s answer can find it here: the solution to puzzle #1851, released July 14, 2026, is STEAK, according to multiple outlets tracking the daily New York Times word game.
The five-letter word refers to a high-quality, thick slice of meat or fish, typically cut across the muscle grain and prepared by grilling or frying, something a diner might order medium-rare at a restaurant. Puzzle trackers described Tuesday’s word as carrying a moderate difficulty rating overall, but flagged one particularly sharp trap embedded in the puzzle: STEAK shares the exact same five letters as STAKE, its perfect anagram, with only the positions of the K and A swapped between the two words.
According to puzzle guide EasternHerald, that overlap proved genuinely tricky for solvers who narrowed down the correct letter set early in their guessing but then locked in the wrong arrangement of those letters. “Solvers who narrow down the letter set early and land on STAKE first may find themselves using a precious extra guess before the correct arrangement clicks,” the guide noted. The same source pointed out that the word’s ending also opens onto a cluster of similarly structured words, including SNEAK, SPEAK, FREAK and CREAK, all of which share the same final four-letter combination and could further slow down a player’s endgame if their earlier guesses hadn’t already ruled out enough letters.
For those working through the puzzle before checking the solution, several structural clues were available. The word contains no repeated letters, begins with the two-letter combination ST and ends in EAK, distinguishing it from words like STOUT, Monday’s answer, which shared the same opening two letters. One puzzle tracker noted that Tuesday’s word marked the second consecutive day featuring an ST- opening, calling it “a coincidence worth noting” while clarifying that Wordle’s word list is not designed to intentionally cluster answers by shared starting letters.
Wordle challenges players to guess a hidden five-letter word within six attempts, using color-coded tile feedback to indicate whether each guessed letter is correct and correctly placed, correct but misplaced, or absent from the word entirely. The game, created by software engineer Josh Wardle in 2021, was acquired by The New York Times the following year after surging in popularity, and has since become a fixture of the paper’s daily games lineup alongside titles such as Connections, Strands and the Mini Crossword.
Puzzle guides offered a familiar set of strategic reminders for players working through Tuesday’s word or preparing for future puzzles. Common advice includes opening with a word containing frequently used letters and multiple vowels, such as ADIEU, AUDIO, RAISE, ATONE or STONE, to quickly surface useful information before narrowing down toward a final answer. Guides also cautioned players to remain alert to the possibility of duplicate letters within a solution, even when a word appears straightforward at first glance, since overlooking a repeated letter has tripped up solvers on past puzzles featuring words like BUZZY, which contains a double Z.
One tracker outlined general endgame strategy for players who find themselves running low on guesses, advising a calm, methodical approach rather than rushing toward a final answer. “Stay calm under pressure,” the guide advised. “The sixth guess can feel intense, but don’t rush. Take a breath and think of all the possibilities that fit your clues.” The same source also recommended paying close attention to common word endings, such as -ED, -ER or -Y, which appear frequently among Wordle solutions and can help narrow down remaining possibilities once several letters have already been confirmed.
Looking back across recent puzzles, Tuesday’s word continued a stretch that has featured a wide mix of concrete, everyday vocabulary. According to PC Guide, the previous 10 Wordle answers before Tuesday’s puzzle were STOUT, CLACK, AVIAN, CANAL, AMEND, DEMON, SLING, TODDY, SWAMI and PIZZA. The outlet also noted that, since February 2, 2026, the New York Times has begun reintroducing older previously used words back into the daily rotation, a shift that began with CIGAR, the very first Wordle solution ever used and the first answer selected after the Times took over the game’s operation. Despite that change, puzzle trackers cautioned that recently used words are not expected to repeat again anytime soon.
Beyond the standard daily puzzle, Wordle’s broader ecosystem has continued to expand in recent years, inspiring companion games that build on its core format. Worldle, a geography-based spinoff in which players guess a country based on its outline shape, offered WESTERN SAHARA as its answer for July 14, continuing to challenge players’ knowledge of world geography using the same six-guess, distance-based feedback structure as the original game. For fans of the Times’ broader puzzle offerings, Tuesday’s NYT Spelling Bee answer carried the center letter M, while the previous day’s Spelling Bee solution was COMMITTAL.
The puzzle’s continued popularity nearly five years after its original release has been attributed in large part to its simplicity and shareability. Each day brings exactly one new word, with no ads interrupting the format, and players can share their results on social media through a grid of colored squares that reveals their guessing pattern without spoiling the actual answer for others who haven’t yet played. That shareable format helped fuel Wordle’s rapid rise in the early 2020s and has continued to sustain a large, dedicated daily audience in the years since.
Players who did not solve Tuesday’s puzzle were reminded by tracking outlets that a new Wordle puzzle becomes available every day at midnight in each player’s local time zone, meaning a missed word carries no bearing on future attempts and streak-conscious players can simply pick back up with the next day’s release. The Times has continued to expand its broader portfolio of daily puzzle offerings in recent years, part of a wider strategy aimed at keeping readers returning to its games platform on a consistent basis, with Wordle remaining the most widely recognized entry point into that ecosystem.
Wednesday’s Wordle puzzle is set to reset at midnight Eastern time, continuing the game’s unbroken daily cadence. Players looking for an early head start on hints can typically expect a new round of guides and clues to appear across puzzle-tracking sites shortly after the transition, following the same structural format used for Tuesday’s reveal.
Business
Chipotle: US burrito chain opening first outlet in Mexico
Internet users have been split over Chipotle’s entry into Mexico.
“Bold move selling Mexico a corporate version of Mexico,” a commenter on X said.
Another X post questioned why Mexicans would pay for Chipotle when they have “perfectly fine and healthy food available to them?”
“It’s like Pizza Hut [opening a] location in Napoli, makes no sense,” said another.
“Next up, Panda Express opening its first mainland China location,” one post read, referring to the US chain that specialises in Chinese food.
The move could be an important test for Chipotle’s plans to expand globally, one wrote, while another suggested the chain could do well as a “tourist novelty”.
The company plans to open up to 370 new restaurants globally this year, including new outlets in Singapore and South Korea.
Many commenters drew comparisons with other US chains like Taco Bell that have tried to break into countries that their menus took inspiration from.
Taco Bell has tried and failed to establish itself in Mexico twice, despite being one of the world’s biggest fast food franchises.
The chain moved out of the country in 2010 after failing to attract Mexican diners.
Domino’s Pizza closed its last outlets in Italy – the birthplace of pizza – in 2022 after facing stiff competition from local restaurants since it opened there seven years earlier.
Business
Timee: Our Framework In Action (OTC Markets:TMEEF)
kentoh/iStock via Getty Images

The following segment was excerpted from the Bristlemoon Global Fund Q2 2026 Report.
In our March 2026 letter, we introduced our compounding/conviction position sizing framework, which decomposes each investment position into two distinct exposures: 1) the compounding position; and 2) the
Business
BHP workers to proceed with strike after talks fail, union says

BHP workers to proceed with strike after talks fail, union says
Business
How US commerce secretary’s Epstein links were uncovered by British whistleblower
Four years earlier in Florida, Epstein had been sent to prison for two charges of soliciting prostitution – including one with a minor.
Andriesz suspected there was yet more to find in the Epstein files that could back up his claims – if only people knew where to look in the 3.5 million pages of documents.
“Everyone was searching ‘Lutnick’,” he says. He knew, though, that Cantor Fitzgerald executives preferred to use initials rather than full names in their emails.
Andriesz searched for “HWL” (Howard William Lutnick) and found emails sent to and from Epstein in 2018. Epstein had talked directly to Lutnick about a digital advertising company called Adfin, in which he and Lutnick’s firm, Cantor Fitzgerald, had both invested.
Andriesz spotted correspondence, external where Epstein had directly asked the HWL account: “what do you think the prospects for adfin are?”
Lutnick responded: “Producing revenue finally. This is their year. Next 12 months they need to become economically self-sufficient.”
Andriesz then shared this information with US politicians on the House Oversight Committee, the US Congress’s main investigatory committee.
Lutnick agreed to appear before the committee in an off-camera hearing in May.
He has not been accused of any wrongdoing in connection with Epstein, and he told the committee: “I unequivocally condemn the conduct attributed to Jeffrey Epstein and everyone who participated in his illegal activities. The survivors of his crimes deserve our respect and support.”
Business
U.S. Pet Insurance Direct Premiums Written Hit Record High In Q1'26
U.S. Pet Insurance Direct Premiums Written Hit Record High In Q1'26
Business
July 14, 2026 Solution for Puzzle #1129 With Full Category Breakdown
Puzzle fans working through Tuesday’s New York Times Connections game have their solution: puzzle #1129, released July 14, 2026, sorted 16 words into four groups spanning synonyms for a contract, computer edit menu commands, types of baskets and a clever visual category built around symbols commonly represented by arrows, according to multiple outlets tracking the daily puzzle.
Connections challenges players to organize 16 seemingly unrelated words into four hidden groups of four, with each group linked by a shared theme, color-coded by difficulty from yellow, the easiest, through green, blue and finally purple, traditionally the most difficult and often built around wordplay or non-verbal connections rather than straightforward meaning. Players select four words at a time and submit a guess, with the game indicating correct groupings by color and offering a “one away” warning when a guess is close but not quite right. Four incorrect guesses end the puzzle.
Tuesday’s yellow category centered on synonyms for a contract, grouping the words agreement, bargain, deal and understanding, all terms describing a formal or informal arrangement reached between parties. The green group asked players to identify common edit menu options found in most software applications, linking copy, cut, delete and paste, a set of commands familiar to anyone who has worked within a standard computer text-editing interface.
The blue category, one level up in difficulty, gathered different kinds of baskets, connecting Easter, grocery, laundry and picnic, each pairing with the word “basket” to form a recognizable everyday phrase. The puzzle’s purple group, traditionally its trickiest, required players to identify concepts commonly symbolized with arrows rather than described through a shared verbal meaning, linking recycling, shuffle, this side up and U-turn. According to puzzle guide NerdsChalk, that final category relied on visual rather than verbal logic. “The connection is visual rather than verbal. Each item is commonly represented by arrows. Some appear on signs or packaging,” the guide noted, pointing to how each of the four concepts is typically depicted through arrow-based iconography, whether on a recycling symbol, a shuffle button on a music player, a shipping label reading “this side up,” or a road sign indicating a permitted U-turn.
One puzzle guide covering Tuesday’s board described the overall design as blending practical, everyday vocabulary with more conceptual, symbol-based thinking. “Today’s grid featured a combination of practical everyday vocabulary and conceptual connections,” NerdsChalk wrote. “Solvers likely spotted one or two categories quickly, but distinguishing between similar meanings and identifying the symbol-based group may have taken extra thought. The puzzle rewarded careful observation and attention to context.” The same source offered a general strategy tip for approaching similarly structured puzzles going forward. “The 14 July 2026 Connections puzzle balances straightforward action words with trickier conceptual links, making it satisfying once everything clicks,” the guide wrote, advising players to “lock in obvious verb groups early, then examine remaining words for structural patterns or shared cultural references.”
Connections was developed internally by the Times and rolled out widely in 2023 following a beta testing period, building on the momentum generated by Wordle, which the paper had acquired the previous year. Since its full launch, Connections has become one of the more popular entries in the Times’ expanding games section, which also includes Wordle, Strands, the Mini Crossword, Sudoku and Pips, part of a broader strategy by the paper to build a suite of daily puzzles that keeps readers returning to its platform consistently.
The category names themselves remain hidden from players at the outset of each puzzle, requiring solvers to infer each group’s connecting theme purely from the 16 scrambled words presented on the board. That design choice has made the game notably prone to misdirection, since certain words are often deliberately chosen because they could plausibly fit into more than one category before a puzzle’s true structure becomes clear. Tuesday’s board illustrated that tendency well, given that words like “deal” and “cut” carry multiple everyday meanings that could have initially pointed solvers toward the wrong grouping before the puzzle’s true categories became apparent.
The NYT’s own official guidance for tackling Connections encourages players to start with the categories they feel most confident about, think through alternate meanings or uses of ambiguous words, and pay attention to shared word endings or suffixes that might hint at a hidden pattern, strategies that align closely with the kind of layered thinking Tuesday’s board rewarded, particularly given the shift required to solve the visually oriented purple group.
Beyond the standard Connections puzzle, the Times has also continued expanding into sports-specific content through its ownership of The Athletic, with Connections: Sports Edition offering a spinoff format that resets daily at midnight Eastern time alongside the main puzzle, asking players to group 16 sports-related terms into four themed categories drawn from teams, players and league-specific vocabulary.
For players who prefer working through Connections gradually rather than seeing the full solution at once, most puzzle-tracking outlets offer graduated hint systems that follow the game’s own difficulty ladder, presenting clues from the yellow category through purple in ascending order of difficulty. That structure allows players to request a partial nudge, such as a thematic hint for the purple category alone, without necessarily spoiling the remaining groups if they would still like to solve those independently.
Access to the daily Connections puzzle, along with Wordle and the Mini Crossword, remains free through the Times’ games app and website, while the publication’s full puzzle archive, spanning more than 1,100 previous Connections boards, requires a Times Games subscription to access. The paper has continued to build out tools surrounding its puzzle offerings in recent years, including performance-tracking features that let players monitor their solving statistics over time, similar in spirit to the Wordle Bot analysis tool available for that game.
Wednesday’s Connections puzzle is scheduled to reset at midnight Eastern time, continuing the game’s daily rotation. Players looking for hints ahead of the next release can typically expect updated guides to appear across puzzle-tracking sites within hours of each new puzzle going live, following the same category-by-category format used to break down Tuesday’s grid.
Business
Full List of Players for American, National League Squads in Philadelphia Tuesday
Major League Baseball unveiled the full rosters for the 2026 All-Star Game on July 4, setting the stage for Tuesday’s Midsummer Classic at Citizens Bank Park in Philadelphia, with the Los Angeles Dodgers, Atlanta Braves and Philadelphia Phillies each sending five players, more than any other franchise in either league.
Starters were determined by fan voting, with Dodgers designated hitter Shohei Ohtani and Toronto Blue Jays infielder Ernie Clement receiving the most votes in their respective leagues, allowing both to skip the second phase of balloting entirely. The remainder of each 32-player roster was filled out through player voting and selections made by the commissioner’s office, which ensures all 30 MLB teams have at least one representative. In the American League, the New York Yankees, Blue Jays and Tampa Bay Rays led all clubs with four selections apiece. Dodgers manager Dave Roberts will lead the National League squad, a reward for guiding Los Angeles to last year’s World Series title, while Blue Jays manager John Schneider will helm the American League.
American League Starters: Catcher Shea Langeliers (Athletics); first baseman Vladimir Guerrero Jr. (Blue Jays), though he later opted out with back discomfort; second baseman Ernie Clement (Blue Jays); shortstop Bobby Witt Jr. (Royals); third baseman Junior Caminero (Rays); outfielders Mike Trout (Angels), Byron Buxton (Twins) and Aaron Judge (Yankees); and designated hitter Yordan Alvarez (Astros).
American League Reserves: Catchers Dillon Dingler (Tigers) and Adley Rutschman (Orioles); first basemen Yandy Díaz (Rays) and Nick Kurtz (Athletics); second baseman Travis Bazzana (Guardians); third baseman Miguel Vargas (White Sox); infielder Kevin McGonigle (Tigers); outfielders Cody Bellinger (Yankees), Randy Arozarena (Mariners) and Riley Greene (Tigers).
American League Pitchers: Bryan Baker (Rays), Dylan Cease (Blue Jays), Aroldis Chapman (Red Sox), Jacob Latz (Rangers), Parker Messick (Guardians), Drew Rasmussen (Rays), Joe Ryan (Twins), Cam Schlittler (Yankees), Cade Smith (Guardians), Ranger Suárez (Red Sox), Louie Varland (Blue Jays) and Michael Wacha (Royals).
National League Starters: Catcher Drake Baldwin (Braves); first baseman Freddie Freeman (Dodgers); second baseman Ozzie Albies (Braves); shortstop CJ Abrams (Nationals); third baseman Max Muncy (Dodgers); outfielders Brandon Marsh (Phillies), Juan Soto (Mets) and Andy Pages (Dodgers); and designated hitter Shohei Ohtani (Dodgers), who was originally expected to get one or two at-bats but was ultimately ruled out due to knee discomfort ahead of a scheduled offseason procedure.
National League Reserves: Catchers Hunter Goodman (Rockies) and William Contreras (Brewers); first basemen Matt Olson (Braves), Sal Stewart (Reds) and Bryce Harper (Phillies); second baseman Luis Arraez (Giants); shortstop Otto Lopez (Marlins); outfielders Corbin Carroll (Diamondbacks), Pete Crow-Armstrong (Cubs), Jordan Walker (Cardinals) and James Wood (Nationals); and designated hitter Kyle Schwarber (Phillies).
National League Pitchers: Chase Burns (Reds), Jhoan Duran (Phillies), Raisel Iglesias (Braves), Max Meyer (Marlins), Mason Miller (Padres), Jacob Misiorowski (Brewers), Eduardo Rodriguez (Diamondbacks), Cristopher Sánchez (Phillies), Chris Sale (Braves), Paul Skenes (Pirates), Logan Webb (Giants) and Yoshinobu Yamamoto (Dodgers).
The rosters underwent several notable changes in the days between their initial announcement and Tuesday’s game. Commissioner Rob Manfred added future Hall of Famer Justin Verlander to the American League roster as a special Legends Pick on July 8, honoring the veteran right-hander even though hip and hamstring injuries have kept him out of action since March 30 and will prevent him from pitching in the game itself. Verlander subsequently announced that 2026 will be his final season. Judge was later ruled out due to injury, with Boston Red Sox outfielder Ceddanne Rafaela added as his replacement on the American League roster, while Buxton was also scratched after landing on the injured list. Guerrero’s decision to skip the game to rest his back led to Kurtz being elevated into the American League’s starting lineup, with catcher Willson Contreras added to the roster as a further replacement. On the National League pitching staff, right-handers Riley O’Brien, Jesús Luzardo and Braxton Ashcraft were all added following a mix of injuries and scheduling conflicts that opened additional roster spots. Brewers right-hander Jacob Misiorowski, while officially named to the roster, is not expected to pitch in the game itself.
Tuesday’s Midsummer Classic caps a multi-day celebration of the sport in Philadelphia that also included the 2026 MLB Draft, held July 11 and 12, the annual Futures Game showcasing top prospects on July 12, and the T-Mobile Home Run Derby on July 13, which streamed exclusively on Netflix for the first time in the event’s history, ending ESPN’s run as its broadcaster since 1994.
This year’s National League pitching staff has drawn particular attention for its depth, with nine qualified National League starters carrying sub-3.00 ERAs entering All-Star week, a group that includes several pitchers who did not even make the final roster. Ohtani himself enters the break with a 1.47 ERA on the mound, a figure that ranks among the best in baseball despite his absence from Tuesday’s lineup, alongside other standout arms including San Francisco’s Logan Webb and Philadelphia’s Cristopher Sánchez, both of whom did earn selections to the National League staff.
The 2026 All-Star Game also carries added significance tied to the 250th anniversary of the United States, with MLB incorporating commemorative elements into the Midsummer Classic festivities held in Philadelphia, a city with deep historical ties to the nation’s founding. Every one of MLB’s 30 franchises has at least one representative on this year’s combined rosters, continuing a long-standing tradition designed to ensure balanced representation across the league regardless of team performance during the first half of the season.
First pitch for Tuesday’s game is scheduled for 8 p.m. Eastern time, broadcast live on FOX from Citizens Bank Park, bringing together the sport’s top performers from the season’s opening half for what promises to be one of the more closely watched All-Star Games in recent memory, both for the caliber of talent on display and the celebratory backdrop surrounding the event’s return to Philadelphia.
Business
Burnham urged to act on day one
Andy Burnham will walk into Downing Street next week with an in-tray already overflowing, but business has told him exactly where to start: energy bills that sit 45 per cent above the G7 average and act, in the words of the CBI and Energy UK, as an “anchor” holding back the economy.
Stripping a suite of green levies out of business energy bills could cut costs by a fifth and deliver a £130 billion boost to the economy by 2050, according to a report from the two lobby groups published on Tuesday, compiled with analysis from Cornwall Insight and the National Institute of Economic and Social Research.
For smaller firms the stakes are immediate. Retailers, food and drink producers and hospitality businesses, the sectors least able to hedge or absorb energy costs, stand to benefit most from the recommendations. That will resonate with the eight in ten SME owners who already fear what a Burnham premiership will mean for their business.
The problem is not new, but it is getting worse. Britain’s electricity prices put firms at a competitive disadvantage, stifle investment and have contributed to the country’s sluggish productivity growth since the 2008 financial crisis, official price data shows. The war in the Middle East has compounded the pain, with the UK’s heavy reliance on imported gas pushing factory costs up at their fastest pace since Black Wednesday.
The report’s central charge is that successive Conservative and Labour governments have spent decades loading the cost of the net-zero transition onto electricity bills. Its remedies include scrapping the renewables obligation, a scheme launched in 2002 requiring suppliers to provide a set quantity of renewable energy, and ditching a two-decade-old levy on businesses using electricity generated outside the UK. The lost revenue, it argues, should be recouped through general taxation or a public fund.
Dhara Vyas, the chief executive of Energy UK, said: “Energy is an essential service that underpins both daily life and economic growth. Yet years of making policy decisions with little regard to the impact on business energy users has left the UK with some of the highest industrial energy costs in the developed world.”
Louise Hellem, the CBI’s chief economist, said: “With a new prime minister coming into office, it’s clear that reducing business energy costs must be a day-one priority. If we want to tackle the cost of living and invest in public services, we need stronger economic growth, and that can’t happen while firms are navigating sky-high energy bills.”
Whether Burnham listens may hinge on who he installs next door. Ed Miliband, seen as his most likely choice to replace Rachel Reeves as chancellor, has rigorously pursued the fastest possible route off fossil fuels as energy secretary, drawing criticism from business groups who argue the private sector is shouldering too much of the net-zero burden. Sowing early tension between Numbers 10 and 11 is the last thing Burnham needs, with voters having deserted Labour over Reeves’s £25 billion payroll tax raid and the botched winter fuel U-turn.
Reeves is expected to strike a valedictory note at the Mansion House dinner this evening, saying the government has been “fixing the foundations, restoring economic stability, and proving our capacity to deliver radical change”.
Burnham, for his part, wants to reindustrialise the economy. The report’s verdict is blunt: that will be impossible “on the back of some of the most expensive electricity in the developed world”. With one in four manufacturers already moving production abroad or weighing it up, SME owners will learn a great deal from the new prime minister’s first appointment, and his first bill.
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