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LOUISVILLE, Ky. — Justin Thomas voiced strong disagreement Thursday after he and his playing partners were placed on the clock during the second round of the 2026 PGA Championship at Valhalla Golf Club, calling the decision unfair and poorly timed in a tournament already known for its demanding pace of play.

The two-time major champion, who opened with a solid 68 on Thursday, was notified by officials on the 12th hole that his group was being timed due to falling behind the pace. Thomas, playing alongside Brooks Koepka and another competitor, argued that the group had been moving efficiently and that external factors, including crowd movement and course setup, contributed to any minor delays. He finished the round with a 71, remaining well within contention but clearly frustrated by the ruling.

“I don’t think it was warranted,” Thomas said after his round. “We weren’t slow. We were dealing with some tough pin positions and a lot of people around the course. To put us on the clock like that felt unnecessary and honestly a bit disrespectful given how we were playing.”

The incident has sparked widespread discussion on social media and among golf analysts, with many questioning the PGA of America’s pace-of-play policies during major championships. Golf’s governing bodies have faced ongoing criticism for inconsistent enforcement, and Thomas’s public pushback has amplified calls for clearer guidelines and better communication with players.

Details of the Incident

According to officials, Thomas’s group fell more than a hole behind the group in front, triggering the timing procedure under PGA rules. Players are given warnings before being officially put on the clock, and penalties can include strokes if they fail to regain position within the allotted time. Thomas’s group avoided any penalty but completed the round under close scrutiny.

Koepka, a five-time major winner known for his no-nonsense approach, supported his playing partner’s view. “We weren’t the slowest group out there,” Koepka said. “JT’s right — it felt a little random. We were trying to play good golf, not rush it.”

The timing controversy occurred on a day when Valhalla played relatively tough due to firm greens and occasional wind. Several groups struggled with pace, but Thomas’s group drew particular attention because of the high-profile names involved and the stage of the championship.

Broader Pace of Play Debate in Golf

Pace of play has been a persistent issue in professional golf for years. The PGA Tour and major organizations have implemented various measures, including shot clocks on certain holes during regular events, but enforcement in majors remains more subjective and often draws player complaints.

Thomas, a former world No. 1 and fan favorite, has been vocal about the topic before. In previous seasons he has criticized slow play by other competitors while defending the need for reasonable time to execute shots under pressure. His comments Thursday resonated with many players who feel the current system unfairly targets certain groups or individuals.

PGA of America officials declined to comment specifically on the Thomas incident but reiterated their commitment to maintaining flow during the championship. “We monitor pace continuously and make decisions based on real-time observations,” a spokesperson said. “Player safety and the integrity of competition remain our top priorities.”

Analysts note that modern golf equipment and course setups have contributed to slower play overall. Players spend more time analyzing distances, wind and green slopes with advanced technology, which can extend round times. At the same time, large galleries at major championships create logistical challenges that slow groups down.

Thomas’s Performance and Season Context

Despite the frustration, Thomas played solid golf. His opening 68 left him well positioned, and the 71 in Round 2 kept him in the mix heading into the weekend. Known for his ball-striking and short game, Thomas has been working to regain consistency after some injury setbacks in recent years.

The incident comes at a pivotal time for Thomas. He has spoken openly about wanting to re-establish himself among the game’s elite and compete for more major titles. His willingness to speak candidly about the pace ruling may endear him to fans who appreciate authenticity, but it also risks drawing unwanted attention from officials.

Reactions from Fellow Players and Fans

Several players expressed support for Thomas on social media. Xander Schauffele, who has also experienced timing issues in past events, posted a subtle message of solidarity. Brooks Koepka, never one to shy away from controversy, was more direct in defending the group’s pace.

Fans were divided. Some applauded Thomas for standing up against what they see as overly strict enforcement, while others argued that professionals should maintain pace regardless of conditions. The debate quickly went viral, with golf forums and Twitter filled with strong opinions on both sides.

Golf commentator Brandel Chamblee weighed in on X, noting that while pace of play needs addressing, targeting high-profile groups during a major can create unnecessary drama. “Justin has a point,” Chamblee wrote. “Enforcement should be consistent and fair across the entire field.”

Implications for the Rest of the Championship

The controversy adds another layer of intrigue to what has already been a compelling PGA Championship. With Scottie Scheffler and other top players in strong positions, any distraction could affect performance. Thomas will look to put the incident behind him as he prepares for Friday’s third round.

The PGA of America may review its pace-of-play protocols after the event, especially if player complaints continue. Golf’s governing bodies have discussed potential changes, including more liberal timing allowances on difficult courses or during poor weather, but no major reforms have been implemented yet.

For now, all eyes remain on Valhalla as the world’s best golfers battle for the Wanamaker Trophy. Thomas’s comments have ensured that pace of play will be part of the conversation throughout the weekend, whether officials like it or not.

As the second round concluded, Thomas appeared focused and determined. “I’m here to win a golf tournament,” he said. “Everything else is noise. I’ll be ready tomorrow.”

The 2026 PGA Championship has already delivered drama both on and off the course. Justin Thomas’s public disagreement with being put on the clock has added another memorable chapter to a tournament that continues to captivate golf fans worldwide. How he and the rest of the field respond in the coming rounds will determine whether this controversy becomes a footnote or a defining moment of the week.

Essi Lipponen
Director of Investor Relations

Hello, and welcome to Fiskars Group’s Capital Markets Day. My name is Essi Lipponen, and I’m the Director of Investor Relations. Today is an exciting day. We have just published our new financial targets for 2026 to 2030. So we have a lot to share with you. In addition, this is the first Capital Markets Day with operationally independent business areas. So that means that we will also have the business area CEOs on stage today. But let’s look at the agenda for this afternoon. First, we will hear from the Group’s President and CEO, Jyri Luomakoski, who will present the group’s role and priorities in the new operating model.

After that, the group CFO, Jussi Siitonen, will continue with the new financial targets and will present them in more detail. Following group presentations, we will shift gears to the business areas, starting with Vita and its CEO, Daniel Lalonde. After that, we will have a short break of 10 minutes. When we return from the break, Dr. Steffen Hahn will present business area Fiskars and its priorities and growth model.

And finally, the group’s CEO, Jyri Luomakoski, will present the key takeaways after which is it’s time for a joint Q&A. I would also like to highlight that in addition to the

Operator

Hello, everyone, and welcome to Klarna’s First Quarter 2026 Earnings Call.

During this call, we will discuss our business outlook and make forward-looking statements. These statements are based on our current expectations and assumptions as of today. Actual results may differ materially due to various risks and uncertainties, including those described in our most recent filings with the SEC.

During this call, we will present both IFRS and non-IFRS financial measures. A reconciliation of non-IFRS to IFRS measures is included in today’s earnings press release, which is distributed and available to the public through our Investor Relations website as well as filed with the SEC.

Please note, unless otherwise stated, all comparisons in this call will be against our results for the comparable period in 2025. [Operator Instructions] Before we move to Q&A, we will begin with a brief presentation.

Sebastian Siemiatkowski
Co-Founder, CEO & Director

Good morning, everyone, and thank you for joining. This quarter was a good quarter. We delivered above the high end of every line. Revenue, $1.012 billion, up 44%. Transaction margin, $389 million, up 44%. Adjusted operating profit, $68 million against $3 million a year ago, and net income turned positive.

LONDON — When Chelsea and Manchester City walk out at Wembley Stadium on Saturday for the 2026 FA Cup Final, it will mark more than just another showpiece occasion in English football. For Enzo Maresca’s rapidly improving Chelsea side, it represents a chance to claim their first major trophy since 2022 and prove they are genuine title contenders. For Pep Guardiola’s Manchester City, it is an opportunity to secure a domestic double and extend their era of dominance.

The matchup pits two of the Premier League’s most tactically sophisticated teams against each other in what promises to be a high-quality, high-stakes encounter. Chelsea have shown remarkable progress under Maresca, blending youthful energy with experienced leadership, while City continue to set the standard despite occasional signs of vulnerability this season.

Current Form and Road to the Final

Chelsea enter the final in excellent form, having dispatched strong opposition en route to Wembley. Their path included memorable victories over Arsenal in the semi-finals and impressive performances against lower-league sides that showcased their depth. Maresca’s side has developed a clear identity built on possession, high pressing and quick transitions, averaging more than 60 percent possession in recent matches.

Manchester City, as expected, have been formidable. They overcame tough challenges in earlier rounds and defeated rivals Liverpool in the semi-finals. Despite a congested schedule and some injury concerns, Guardiola’s team has shown the experience and quality that have defined their reign over English football for nearly a decade.

Both clubs have key players available, though fitness concerns linger for a few. Chelsea will be without a couple of squad members due to minor issues, but their core group is expected to be fit. City face similar questions around defensive reinforcements but remain formidable with their star-studded lineup.

Tactical Battle at Wembley

The final is expected to be a fascinating tactical duel between two coaches who know each other well. Maresca, who previously worked under Guardiola at Manchester City, has implemented a system that challenges City’s usual control. He is likely to deploy a 4-2-3-1 formation designed to limit Kevin De Bruyne’s influence while looking to exploit transitions through the pace of Nicolas Jackson and Noni Madueke.

Guardiola will look to control the tempo and use the width provided by his full-backs to stretch Chelsea’s defense. The Spaniard has spoken highly of Maresca’s work, calling him “one of the brightest young coaches.” That respect may translate into a measured approach early on as both sides look to avoid mistakes in such a high-pressure environment.

Set pieces could prove decisive. Chelsea have improved significantly in this area, while City remain dangerous from dead-ball situations thanks to Erling Haaland’s aerial presence. Midfield battles between Moisés Caicedo and Rodri will likely dictate the flow of the game.

Key Players to Watch

Cole Palmer will be central to Chelsea’s hopes. The England international has been in sensational form, creating chances and scoring regularly. His ability to find pockets of space could trouble City’s defense. For the visitors, Haaland needs no introduction — the Norwegian striker’s finishing remains elite, and Chelsea’s backline will need to be at their best to contain him.

Reece James’s leadership from right-back and Levi Colwill’s composure in central defense will be vital for the home side. On the City side, the creativity of De Bruyne and the midfield control of Rodri remain the biggest threats. Goalkeepers Robert Sánchez and Ederson will also play crucial roles in what could be a tight contest.

Historical Context and Rivalry

Chelsea and Manchester City have produced some memorable encounters in recent seasons, including dramatic title-deciding matches and cup ties. While City have generally had the upper hand, Chelsea have shown they can compete when playing with intensity at neutral venues. This will be their first FA Cup Final meeting since 2019, when City won on penalties.

For Maresca, there will be added motivation to get one over his former mentor. For Guardiola, it represents another opportunity to add silverware and maintain his remarkable record in cup competitions.

Expert Predictions and Betting Insight

Most pundits expect a close contest, with many predicting a narrow City win or a draw followed by penalties. Bookmakers have City as favorites, reflecting their experience in big matches, but Chelsea are seen as dangerous opponents on the day. A high-scoring game is possible given both teams’ attacking talent, though defensive organization may prevail.

Former players and coaches have highlighted the tactical nuance required. “It will be a chess match,” said one Premier League manager. “Maresca has done an excellent job organizing Chelsea, but Guardiola’s teams always find a way. The team that handles the big moments better will likely prevail.”

Broader Season Implications

A Chelsea victory would be a massive statement, boosting their confidence for the Premier League run-in and providing a first major trophy under the current ownership. For Manchester City, success would secure a domestic double and further cement their status as the team to beat.

The match also carries financial and reputational weight. A strong performance could boost season ticket renewals and sponsorship interest for both clubs. For Chelsea, winning the FA Cup would validate their long-term project and provide momentum heading into the summer transfer window.

Fan Expectations and Atmosphere

Wembley Stadium will be packed with passionate supporters from both sides. Chelsea fans will be hoping for a repeat of their 2022 FA Cup success, while City supporters will look to extend their trophy haul. The atmosphere is expected to be electric, with both sets of fans creating a memorable occasion regardless of the result.

Social media is already buzzing with predictions, memes and historical references. The clash has captured the imagination of neutral fans as well, promising a high-quality spectacle between two of English football’s most ambitious projects.

What to Expect on the Day

Both managers will likely name strong lineups, with few surprises expected. The game could hinge on small details — a set-piece, a moment of individual brilliance or a tactical adjustment at half-time. Fatigue from a busy schedule may play a role, making squad depth crucial.

Regardless of the outcome, the 2026 FA Cup Final is set to be a memorable occasion. It showcases the best of modern English football: tactical sophistication, world-class talent and the unique drama of cup competition. For Chelsea, it is a chance to write a new chapter. For Manchester City, it is another step toward greatness.

As the teams prepare for battle at Wembley, anticipation is building. Whether Chelsea can pull off a famous upset or Manchester City extend their supremacy will be one of the defining moments of the 2025-26 season. The football world will be watching closely as two ambitious projects collide in English football’s oldest and most prestigious cup competition.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of TRIP either through stock ownership, options, or other derivatives. 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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Wall Street’s major market averages dropped lower on Friday as tech stocks fell and U.S. Treasury yields marched higher following the U.S.-China summit ending. Investors will continue to watch for further developments around the U.S.-China summit after the second round of talks concluded today. Chinese President Xi also warned U.S. President Donald Trump that tensions over Taiwan could lead to direct clashes between the U.S. and China.

The next week is expected to be relatively quiet on the economic front, with few major data scheduled in the latter half of the week. FOMC’s minutes of the meetings will be released on Wednesday, with Fed Vice Chair for Supervision Michael Barr also scheduled to speak. Initial jobless claims and S&P Global’s PMI data are due on Thursday.

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Earnings spotlight: Monday: Baidu (BIDU). See the full earnings calendar.

Earnings spotlight: Tuesday: Home Depot (HD). See the full earnings calendar.

Earnings spotlight: Wednesday: Nvidia (NVDA), Analog Devices (ADI), Intuit (INTU), Target (TGT). See the full earnings calendar.

Earnings spotlight: Thursday: Walmart (WMT). See the full earnings calendar.

Volatility watch: Intel (INTC) and Ondas (ONDS) are set up for another volatile week of trading based on options volatility. The most overbought stocks per their 14-day relative strength index include Robo.ai (AIIO), Bandwidth (BAND), and Vishay Precision (VPG). The most oversold stocks per their 14-day Relative Strength Index include SunCar (SDA), EPAM Systems (EPAM), and Zoetis (ZTS). Short interest is elevated on PureCycle Technologies (PCT) and Sunrun (RUN) again.

IPO watch: Investment bank Lincoln International (

NEW YORK — World oil prices climbed sharply Thursday, with Brent crude surpassing $109 per barrel and West Texas Intermediate trading near $102 as escalating tensions in the Middle East, restricted flows through the Strait of Hormuz and shrinking global inventories continued to support a bullish market outlook.

The surge reflects persistent supply risks from the ongoing U.S.-Iran conflict and limited prospects for a swift resolution. Brent crude, the international benchmark, settled around $109.26 per barrel, up more than 3 percent on the day, while WTI crude rose to approximately $101-102 per barrel. Both benchmarks have gained more than 60 percent year-over-year, marking one of the strongest rallies in recent memory.

Energy analysts attribute the latest jump to a combination of physical supply constraints and heightened geopolitical risk premium. The Strait of Hormuz, through which roughly 20 percent of global oil passes, remains heavily restricted, with tanker traffic significantly reduced amid security concerns. The International Energy Agency noted that global observed oil inventories have drawn at a record pace outside of pandemic conditions, tightening the market further.

Geopolitical Risks Dominate Market Sentiment

The U.S.-Iran conflict has entered a critical phase, with President Donald Trump’s recent comments indicating that ceasefire efforts are on “life support.” This uncertainty has kept risk premiums elevated, as traders price in the possibility of further disruptions to Middle Eastern supply routes. Saudi Arabia’s output has fallen to its lowest level since 1990, adding to the supply-side pressure.

Oil traders and analysts say the market is in a “higher for longer” price environment. Amos Hochstein, a former senior energy advisor, told CNBC that the current $90-to-$120 range could persist for some time. “We are in a structurally tighter market,” he said. “Geopolitical risks are not going away quickly, and demand remains resilient despite higher prices.”

Supply and Demand Dynamics

Global oil demand has held up better than expected, supported by steady economic activity in Asia and recovering travel sectors. The IEA warned of greater volatility ahead, revising its demand forecasts upward while noting that non-OPEC supply growth is slowing. OPEC+ production cuts have also helped rebalance the market, though compliance questions linger.

U.S. crude inventories have shown modest builds in recent weeks, but product inventories, particularly gasoline, remain relatively tight ahead of the summer driving season. Refinery utilization rates are high, but any unexpected outages could exacerbate supply concerns.

Impact on Consumers and Economy

Higher oil prices are feeding through to gasoline costs at the pump, with national averages in the United States approaching $4 per gallon in some regions. This adds pressure to household budgets already strained by inflation in other areas. Airlines and transportation companies have begun passing on higher fuel costs, potentially contributing to broader price increases.

Economists note that sustained prices above $100 per barrel could slow global growth if they persist. However, the current environment also benefits oil-producing nations and energy companies, many of which are reporting record profits. U.S. shale producers have increased rig counts modestly, though capital discipline remains a priority for many operators.

Market Reaction and Trading Activity

Oil futures showed strong upward momentum throughout the session, with significant buying interest from hedge funds and institutional investors. The rally extended gains from earlier in the week, pushing Brent to levels not seen consistently since 2023. Volatility measures, including implied volatility in options markets, have risen but remain below crisis levels.

The energy sector outperformed broader equity markets, with oil majors and service companies posting gains. However, higher energy costs weighed on transportation and consumer discretionary stocks, contributing to mixed performance across major indices.

Outlook and Key Factors to Watch

Looking ahead, traders will monitor developments in the Middle East closely. Any progress toward de-escalation or reopening of key shipping routes could ease prices, while further restrictions would likely push them higher. The upcoming OPEC+ meeting and U.S. inventory reports will also provide important signals.

Longer-term, the energy transition continues to influence market dynamics. While renewable energy growth is accelerating, oil demand is expected to remain robust for years, particularly in emerging markets. Analysts at firms like Goldman Sachs and JPMorgan have raised their price forecasts for the remainder of 2026, citing structural supply tightness.

For consumers, the message is one of caution. Energy experts recommend budgeting for higher fuel costs and considering efficiency measures where possible. Businesses exposed to energy prices are hedging where feasible to manage volatility.

The current oil price environment reflects a market balancing geopolitical risks against economic realities. While $100+ oil brings challenges for consumers, it also underscores the strategic importance of energy security and the complex interplay between geopolitics, economics and commodity markets. As the situation in the Middle East evolves, oil prices are likely to remain volatile, rewarding those who navigate the uncertainties with careful planning and diversified exposure.

As of Thursday’s close, Brent crude stood at approximately $109.26 per barrel and WTI near $101-102. The coming days and weeks will be critical in determining whether this rally sustains or corrects as new information emerges from key producing regions and consuming economies. Investors, policymakers and everyday consumers will all be watching closely as the oil market remains one of the most sensitive barometers of global risk and economic health.