Ariel Investments, LLC is a global value-based asset management firm founded four decades ago in 1983. Ariel is headquartered in Chicago, with offices in New York City, San Francisco and Sydney, Australia. Ariel serves individual and institutional investors through five no-load mutual funds and eleven separate account strategies. Our four core values are: Active Patience®, Independent Thinking, Focused Expertise and Bold Teamwork. Ariel Investments models these behaviors in everything they do.Note: This account is not managed or monitored by Ariel Investments, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Ariel Investments’ official channels.

President Donald Trump on Sunday praised Giant Eagle for lowering prices on more than 300 frequently purchased products through Labor Day.

The grocery chain launched the seasonal promotion on July 9, reducing prices by an average of 10% on products that include proteins, produce and summer snacks.

Trump said the grocery chain will be cutting prices “by a lot.”

“Wonderful news! I have just been informed that Giant Eagle, a GREAT American Grocery Company, will be lowering Prices, by a lot, across more than 300 products this Summer, through Labor Day, to help hardworking American families,” Trump wrote on Truth Social.

MAJOR GROCERY CHAIN BEATS WALMART, ALDI IN PRICE WAR AS SHOPPERS HUNT FOR CHECKOUT RELIEF

Giant Eagle’s promotion comes after Walmart and Sam’s Club announced earlier in July that they would lower prices on thousands of products nationwide this summer “to help customers and members make the most of the season while spending less on the products they need, want and love most.”

The discounted Walmart and Sam’s Club products include ground beef, beverages, household essentials, apparel and toys.

“Giant Eagle, like Walmart, is stepping up in a big and bold way to answer my call to lower costs for working families,” Trump said on Sunday.

“We will continue to bring Prices DOWN, just like Oil, Gas, Eggs, and Prescription Drugs, all of which are dropping FAST after the disaster we inherited from Sleepy Joe Biden,” he continued.

Trump called on other grocery chains to follow Giant Eagle and Walmart by reducing prices.

MORE AMERICANS ARE RELYING ON CREDIT CARDS TO BUY GROCERIES, NEW STUDY FINDS

“Other Grocery Chains must immediately follow the lead of these absolute Patriots at Giant Eagle and Walmart,” he said. “Together, we will make America stronger and more affordable than ever before, and get rid of the stench and Inflation perpetrated on us by the Dumocrats and the Sleepy Joe Biden Administration!”

GET FOX BUSINESS ON THE GO BY CLICKING HERE

FOX Business reached out to Giant Eagle for comment.

Just one day after Spain lifted the 2026 World Cup trophy in New Jersey, soccer’s global governing body is already looking ahead to a tournament unlike any before it: the 2030 FIFA World Cup, which will be staged across six countries spanning three continents to mark the competition’s 100th anniversary.

According to FIFA’s proposed schedule, the tournament will open with a series of centenary matches held in South America before shifting to its three primary host nations in Europe and Africa, a format that will make 2030 the first men’s World Cup ever played across three continents.

A tournament rooted in history

Spain, Portugal and Morocco will serve as the tournament’s main co-hosts, staging the majority of the competition’s matches. To honor the World Cup’s centennial, Uruguay, Argentina and Paraguay will each host a single opening-round match before the remainder of the tournament shifts entirely to the three principal host countries.

The symbolism behind each South American host nation’s involvement is deliberate. Uruguay will host a match in recognition of staging the first-ever World Cup in 1930, while Argentina’s fixture will acknowledge its role as that inaugural tournament’s runner-up. Paraguay, meanwhile, will host a game as the home of CONMEBOL, South America’s soccer confederation and the only continental football governing body that existed at the time of the first World Cup.

Under FIFA’s proposed calendar, the centenary matches in Uruguay, Argentina and Paraguay are scheduled for June 8 and 9, 2030, with the main tournament’s opening ceremony and first matches following in Morocco, Portugal and Spain on June 13 and 14. Teams competing in the South American centenary matches will be given extra time to travel and prepare before beginning their group-stage campaigns in Europe and Africa. The remaining teams in those same groups are expected to begin play on June 15 and 16, with a second round of group matches following on June 21 and 22. FIFA has not yet released a complete match calendar, and the federation has indicated the World Cup final is expected to take place July 21, 2030, though that date has not been formally confirmed.

Automatic qualifiers already locked in

Six nations have already secured automatic qualification for the 2030 tournament by virtue of their hosting roles: Spain, Portugal and Morocco as the three primary co-hosts, along with Uruguay, Argentina and Paraguay through their centenary match hosting duties. The remaining 42 spots in the 48-team field will be determined through FIFA’s continental qualifying tournaments over the next several years.

Could the tournament grow even larger?

While the 2030 World Cup is currently set to retain the 48-team format that debuted at this year’s tournament in the United States, Canada and Mexico, FIFA President Gianni Infantino has signaled the organization may explore expanding the competition even further, to 64 teams.

Speaking with Swiss outlet Bluewin, Infantino called the expanded 48-team format a “huge success,” crediting it with giving more nations the chance to compete on the sport’s biggest stage and helping grow the game’s global reach. He pointed to strong showings from smaller footballing nations during the 2026 tournament as evidence that wider participation benefits the sport overall. Asked directly whether a 64-team World Cup could become reality, Infantino said the proposal “will be examined and discussed” going forward, though no formal decision or timeline has been announced.

A century of growth for the World Cup

The 2030 edition will arrive almost exactly a century after the World Cup’s origins, which trace back to the success of men’s soccer tournaments at the 1924 and 1928 Olympic Games, both won by Uruguay. At the time, Olympic football fell under the jurisdiction of the International Olympic Committee, prompting FIFA to create a standalone international tournament specifically for national soccer teams.

The 1924 Olympic final in Paris drew a crowd of nearly 50,000 spectators as Uruguay defeated Switzerland 3-0 to claim gold. Four years later, Uruguay successfully defended its Olympic title with a 2-1 win over Argentina, a result that helped convince FIFA officials that a dedicated World Cup tournament could succeed on its own.

FIFA formally approved plans for the inaugural World Cup in May 1928 and selected Uruguay as host, both in recognition of the country’s back-to-back Olympic titles and to coincide with the 100th anniversary of Uruguayan independence in 1930. That first tournament kicked off in July 1930 with 13 participating nations, several of which traveled from Europe by ship to compete. Uruguay went on to defeat Argentina 4-2 in the final at Montevideo’s Estadio Centenario, becoming the first nation crowned men’s World Cup champions.

Since that modest beginning, the tournament has grown dramatically in scale, expanding from 13 teams in 1930 to 32 teams by 1998 and, most recently, to 48 teams for this year’s tournament across North America. The 2030 edition will mark a full century since that first competition and stand as the first men’s World Cup ever contested across six countries and three continents simultaneously.

Looking further ahead: 2034 in Saudi Arabia

Beyond 2030, FIFA has already confirmed the host of the following World Cup. The 2034 tournament will be staged entirely within Saudi Arabia, which FIFA confirmed as host in December 2024 after emerging as the only country to submit a bid for that edition. Unlike the multi-continental 2030 format, the 2034 World Cup will return to a single-host-nation model. FIFA has not yet announced specific dates or a match schedule for that tournament, leaving further details to be finalized in the years ahead as the federation first turns its full attention to executing the historic six-country centenary celebration planned for 2030.

Shares of Axis Bank declined 5% to Rs 1,261 on the BSE on Monday even after the private lender reported a 22.5% year-on-year rise in standalone net profit to Rs 7,114 crore for the April-June quarter of FY27, with brokerages issuing mixed calls for the stock.

The private lender on Saturday released its Q1 FY27 results. Its net interest income (NII), meanwhile, rose more than 8% YoY to Rs 14,646 crore during the first quarter of the ongoing financial year 2027, from Rs 13,560 crore reported in the same period last year. Notably, this is higher than Nomura and Kotak Institutional’s estimates. Net interest margin during the quarter under review stood at 3.46%.

Axis Bank’s gross non-performing assets (GNPA) declined around 4% YoY to Rs 17,124 crore, while net NPA rose around 2.5% YoY to Rs 5,193 crore. The gross NPA and net NPA ratios improved on a YoY basis to 1.28% and 0.39%, respectively. However, both increased sequentially from 1.23% and 0.37% in Q4 FY26.

Provision and contingencies for Q1 FY27 stood at Rs 2,223 crore, while specific loan loss provisions stood at Rs 2,079 crore. Total deposits rose 3% QoQ and 18% YoY on a month-end basis, with current account deposits up 6% YoY, savings account deposits rising 14% YoY and term deposits increasing 23% YoY. The lender’s advances rose 19% YoY and 2% QoQ to Rs 12.62 lakh crore as on June 30, 2026.

Also read | Axis Bank Q1 Results: Net profit jumps 23% YoY to Rs 7,114 crore; NII up 8%

Nuvama on Axis Bank share price

Nuvama said Axis Bank delivered strong credit growth of 19%, but net interest margin slipped again by 16 bps QoQ to 3.46%, while management aims to pull it back to 3.8% over the next 12–15 months. Higher other income and lower provisions led to 9% PAT beat, it added.

GNPA inched up 5 bps QoQ to 1.3% due to seasonally higher agri NPAs, which should ease, according to Nuvama, which further noted that Axis has not used West Asia conflict related provisions.
“We believe Axis will be a key beneficiary of FCNR flows, which should help retrace margins. This coupled with lower LLP should drive-up RoA from 1.4% in FY26 to 1.6–1.8% over FY27–29,” the brokerage said. Nuvama retained its ‘Buy’ call on the shares of Axis Bank with a target price of Rs 1,650 apiece. This implies an upside potential of more than 24% from the stock’s previous closing price of Rs 1,328.50 apiece on NSE.

Motilal Oswal on Axis Bank share price

Motilal Oswal noted that while Axis Bank’s net profit was 7% higher than its estimate, the bank’s NII and NIM missed expectations. It cut its FY27 and FY28 earnings expectations by 2% each and estimated FY28 RoA and RoE at 1.6% and 15.3% respectively. Axis Bank reported a weak quarter, Motilal Oswal said, noting that the bank reiterated its through-cycle NIM aspiration of ~3.8%, driven by an improving balance sheet mix. “Credit costs edged up marginally due to seasonally higher slippages, which also resulted in elevated interest reversals. Business growth remained modest, with corporate lending driving overall loan growth, while retail growth continued to be relatively subdued. Deposit growth was primarily led by term deposits, keeping the CD ratio broadly stable at ~92%,” it said.

The domestic brokerage has a ‘Neutral’ call on the shares of Axis Bank with a target price of Rs 1,500 apiece. This implies an upside potential of nearly 13% from the stock’s previous closing price.

What other brokerages say?

Centrum Broking said Axis Bank delivered a healthy quarter, reinforcing its positive view on the franchise despite near-term margin pressures. Its maintained its ‘Buy’ call on the shares of Axis Bank, but increased its target price to Rs 1,720 apiece, implying an upside potential of more than 29% from the stock’s previous closing price.

Systematix Institutional Equities meanwhile reduced its target price to Rs 1,570 apiece, while maintaining its ‘Buy’ rating on the stock. Dolat Capital meanwhile had an ‘Accumulate’ rating on the shares of Axis Bank, with a target price of Rs 1,525 apiece.

Also read: Axis Bank weighs raising stake in its insurance venture to 30%

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Council wants to stop rental conversions taking over entire streets

Liverpool has declared “war” on houses of multiple occupation (HMOs) amid growing concern about the concentration of developments in communities. As the use of HMOs across the city becomes more prevalent, the city council is hoping to flex its muscles in a bid to stop the “blight” of the properties swallowing up residential streets.

Launching its local plan, city council leaders have set out their vision to set limits on how HMOs are utilised. According to data compiled by the authority’s Labour group, 260 applications for HMOs have been rejected since 2021.

Setting out the direction of the city over the next 15 years, the local plan lays out a design to provide a minimum of 33,000 new homes during that period. This is through a brownfield first approach.

Cllr Nick Small, cabinet member for growth and economy, told a cabinet meeting last week how the scheme was also about creating mixed communities with 81 sites identified for housing growth. However, a specific plan of action will be put together on how HMOs are used across the city.

He said: “What we are doing within the local plan is around managing the concentration of HMOs. We’re doing that as a separate piece of work within the local plan.

“We don’t want to see more than 10% of HMOs in any one area, we don’t want to see a loss of family dwellings, and we’ve got new policy in here around sandwiching that doesn’t result in a non-HMO being sandwiched between two HMOs which is an issue in certain parts of the city.”

No more than three HMOs would be allowed in a frontage, he added. Since June 2021, a directive has been in place known as an Article 4 that restricts the conversion of single dwellings into HMOs.

This was introduced in areas of the city where HMO numbers had reached a certain level and greater control was needed. This includes areas like Tuebrook, where Cllr Joe Dunne has campaigned against the expansion of HMOs, with some thought to be unregistered.

He said: “The council’s stronger language on HMOs is welcome, but residents will judge this by action rather than declarations of a ‘war’. Communities such as Tuebrook have lived with the consequences of poorly managed and unauthorised HMOs for years, including overcrowding, waste problems, increased pressure on local services and the loss of much-needed family homes.

“The new Local Plan must give the council stronger policies to resist further concentrations of HMOs, supported accommodation and other intensive residential uses in areas that are already under significant pressure. However, planning policy alone will not solve the problem. It must be backed by properly resourced enforcement, faster investigations and much closer coordination between planning, housing options and licensing.

“I have repeatedly raised concerns about properties appearing to operate as HMOs despite having no planning permission or after permission has been refused. It is unacceptable for different council departments to act in isolation, with one department potentially licensing, funding or referring residents into a property while its planning status remains unresolved. Residents deserve more than strong words-they need visible enforcement and lasting protection for their neighbourhoods.”

Cllr Small, who represents the city centre north ward, said officers were looking separately around the expansion of the Article 4 direction and getting the evidence base on that. He added: “There’s some really important work that’s gone on in the local plan around HMOs alongside the work that we’ve been doing and will continue to do around the Article 4.

“We recognise that HMOs are an issue in parts of the city, the over concentration of HMOs and we want to take robust action against that within the local plan.”

Cllr Angela Coleman, cabinet member for adult social services, said the impact of HMOs on communities had been stark. She said: “I’m really, really pleased to see the information on HMOs.

“They’ve been such a blight on so many communities across the city and to see it there embedded into this legal blueprint for development is a really good sign that we’ve listened to residents’ concerns and done something about it.”

Cllr Liam Robinson, leader of Liverpool Council didn’t mince his position on where he saw the authority’s position on the housing situation. He said: “I am very pleased the next stage of what I’ll very straightforwardly call the war on HMOs in communities like the one me and Liz (Cllr Parsons) represent.

“We know we’re having success in knocking some of these things back but the fact we’ll get further additional powers on top of the existing article 4s, stopping of the sandwiching, making sure no loss of family dwelling and the other work we’re doing to extend the article 4 is exactly what we want to see in our city.” The new policy set out by city leaders after years of development with officials across the authority did acknowledge a place for HMOs across Liverpool moving forward.

It said: “While it is recognised that HMOs are an essential part of Liverpool’s housing stock, meeting a diverse range of housing needs, the cumulative impact of excessive concentrations within any given area can harm the character and amenity of the wider neighbourhood. This policy aims to manage the distribution and concentration of HMOs within Liverpool, promoting sustainable, balanced communities, and safeguarding the character and amenity of residential areas.”

This was echoed earlier this month by Cllr Hetty Wood, the city’s lead for housing. She said: “We know residents have genuine concerns about the impact of poorly managed HMOs in some neighbourhoods, particularly where family homes are being converted without the right checks and permissions.

“That is why the council has strengthened its work in this area, including more intelligence-led enforcement, additional housing enforcement capacity and a wider review of how HMOs are managed across the city. HMOs must be properly regulated, safe for tenants and managed in a way that respects surrounding communities.

“The council has already strengthened procedures following previous cases where planning status had not been verified before accommodation was used, and work is under way to improve cross-service checks and due diligence.”

Ariel Investments, LLC is a global value-based asset management firm founded four decades ago in 1983. Ariel is headquartered in Chicago, with offices in New York City, San Francisco and Sydney, Australia. Ariel serves individual and institutional investors through five no-load mutual funds and eleven separate account strategies. Our four core values are: Active Patience®, Independent Thinking, Focused Expertise and Bold Teamwork. Ariel Investments models these behaviors in everything they do.Note: This account is not managed or monitored by Ariel Investments, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Ariel Investments’ official channels.

EAST RUTHERFORD, N.J. — Spain won the World Cup for the second time Sunday, defeating a 10-man Argentina 1-0 in extra time at New York New Jersey Stadium in a tense, foul-heavy final that became the first men’s World Cup decided under the shadow of a lengthy halftime show and a late red card.

Substitute Ferran Torres broke a scoreless deadlock in the 106th minute, converting a header from fellow substitute Nico Williams to give Spain the lead it would not relinquish. The victory made Spain the first nation in history to hold the men’s and women’s World Cup titles simultaneously, having already won the Women’s World Cup previously.

The match, played before 80,663 fans, never reached the heights many expected from two of the tournament’s most talented squads. Argentina, the defending champions, leaned heavily on defensive discipline and disruption rather than sustained attacking football, while Spain created the better chances throughout without finding a breakthrough until deep into the additional 30 minutes.

The contest turned decisively in the third minute of second-half stoppage time, when Argentina midfielder Enzo Fernandez was shown a second yellow card for a reckless challenge on Spain defender Pau Cubarsi, having already been cautioned earlier in the match. Fernandez’s dismissal left Argentina to play the entirety of extra time a man down, a disadvantage that ultimately proved decisive against a Spain side that controlled possession for long stretches.

A tense, stop-start final

Referee Slavko Vincic’s officiating became a recurring point of frustration for Spain throughout the match, with the team repeatedly appealing for cards it felt were not given, including a late challenge by Alexis Mac Allister on Dani Olmo. The first caution of the match did not arrive until the 40th minute, when Argentina defender Lisandro Martinez was booked for fouling Mikel Oyarzabal, shortly before Martinez was forced off with an injury.

Argentina goalkeeper Emiliano Martinez was his team’s standout performer for much of the match, denying Spain a series of clear chances. In the closing seconds of regulation time, Martinez produced a crucial save to deny a Lamine Yamal free-kick, keeping the score level and forcing the match into extra time. He was called into action again in the additional period, making another important stop on a Williams header shortly before Spain finally broke through.

Spain also had what looked to be a second goal ruled out during extra time, after Williams put the ball in the net following a foul committed by substitute Mikel Merino on Argentina defender Nicolas Otamendi.

Off-field spectacle overshadows the football

Sunday’s final carried significance well beyond the result, unfolding as one of the most heavily produced World Cup finals in the tournament’s history. U.S. President Donald Trump attended the match, arriving at the stadium as part of a fleet of helicopters ahead of kickoff. The halftime interval stretched to 27 minutes to accommodate performances from Shakira, Madonna and Justin Bieber, marking the first World Cup halftime show of its kind.

Despite the spectacle surrounding it, the match itself was widely regarded as one of the more disappointing finals in recent tournament history, marked by frequent stoppages, tactical caution and a lack of the free-flowing football that had characterized both nations’ paths to the final.

Spain’s steady rise to the title

Spain’s triumph capped a tournament arc that began modestly, with the team opening group play in a goalless draw against Cape Verde before steadily building momentum through the knockout rounds. Their run included a commanding win over tournament favorites France in the semifinals, a result that underlined the squad’s growth under coach Luis de la Fuente.

De la Fuente, known for his measured and understated approach on the touchline, has now delivered back-to-back major international successes for Spain, having previously led the team to victory over England in the Euro 2024 final in Berlin. His side’s composure in the face of Argentina’s physical and disruptive approach on Sunday was seen as a key factor in securing the title.

Nineteen-year-old winger Lamine Yamal was named player of the match, finishing with the tournament’s highest average fan rating of any player in the final at 7.94. Rodri, Nico Williams and Torres also received high marks for their performances in a match where Spain’s squad depth ultimately proved decisive.

A bittersweet ending for Messi

For Argentina, the defeat marked a painful end to their bid to defend the title they won in 2022, and potentially closed the book on Lionel Messi’s World Cup career. At 39, Messi remained Argentina’s talisman throughout the tournament, scoring eight goals overall and playing a central role in the team’s dramatic semifinal win over England, where he set up both of Argentina’s goals in a 2-1 victory.

Sunday’s final offered a far quieter conclusion for the veteran forward. Closely marshaled by Spain’s defense throughout the match, Messi managed just one shot, which did not test Unai Simon in the Spain goal, and was largely kept away from dangerous areas for the majority of the contest.

Argentina had shown resilience earlier in the knockout stage, coming from behind to beat both Egypt and England en route to the final. But they could not replicate that fighting spirit against a Spain team playing with a numerical advantage for the final stretch of the match, and left New Jersey with the runner-up medal instead of the trophy they had hoped would cement a second consecutive title.