Business
Pzena Emerging Markets Select Value Q1 2026 Commentary
Pzena Investment Management’s investment philosophy is simple: it seeks to buy good businesses at low prices. Pzena focuses exclusively on companies that are underperforming their historically demonstrated earnings power, performing fundamental, bottom-up research on these companies in an effort to determine whether the problems that caused the earnings shortfall are temporary or permanent.
Note: This account is not managed or monitored by Pzena Investment Management, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Pzena’s official channels.
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Oil falls more than $4 as US, Iran remain at odds over peace deal

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Frozen dog food sold in 9 states recalled over potentially deadly listeria risk
Life360 CEO Lauren Antonoff explains the company’s new real-time GPS pet tracker on ‘The Claman Countdown.’
A popular raw dog food brand is expanding a recall of dozens of products over fears they may be contaminated with Listeria monocytogenes, a potentially deadly bacteria that can sicken both pets and humans, federal officials warned Friday.
Raaw Energy’s recall impacts frozen dog food products manufactured between July 17, 2025, and Dec. 23, 2025, along with one batch of “Beef and Turkey Medley” dated March 31, 2026, according to a notice from the Food and Drug Administration (FDA).
The recall was issued “out of an abundance of caution” after testing detected listeria in several samples.
“Consumers are advised not to use, sell, or consume any affected product. Please discard these items immediately to help reduce the risk of illness,” the FDA said.
WHOLE FOODS MINESTRONE SOUP RECALLED IN 17 STATES OVER POSSIBLE LIFE-THREATENING ALLERGIC REACTION

Raaw Energy’s recall impacts frozen dog food products manufactured between July 17, 2025, and Dec. 23, 2025, along with one batch of “Beef and Turkey Medley” dated March 31, 2026. (Getty Images / Getty Images)
The recalled products were sold in 2-pound and 5-pound clear plastic tubes packaged inside brown cardboard boxes and distributed through the company’s website and pickup locations in Connecticut, Delaware, Massachusetts, Maryland, New Hampshire, New Jersey, New York, Pennsylvania and Virginia.
The company’s recall includes a wide variety of products, including “Beef and Chicken,” “Beef and Turkey Medley,” “Chicken Medley,” “Hybrid Dog’s Best Friend,” and more.
Listeria can spread through contaminated pet food and surfaces that come into contact with it, including pet bowls, countertops and utensils, according to the FDA.
COSTCO PATIO SWINGS RECALLED AFTER SEAT DETACHMENTS LEAD TO INJURIES

The recalled products were sold in 2-pound and 5-pound clear plastic tubes packaged inside brown cardboard boxes and distributed through the company’s website and pickup locations. (iStock / iStock)
In humans, listeria infections can trigger nausea, vomiting, diarrhea, fever and muscle aches. Severe cases may spread to the nervous system and cause meningitis, pregnancy complications or death.
“Severe infections can result in meningitis, abortion and death. Pets exposed to contaminated food can be infected without showing symptoms,” the FDA warned.
Raaw Energy also said it has temporarily halted all dog food production, effective last Thursday, May 21, 2026, as the company addresses sanitation concerns.
PET FOOD SOLD NATIONWIDE RECALLED OVER POTENTIAL SALMONELLA RISK

Listeria can spread through contaminated pet food and surfaces that come into contact with it, including pet bowls, countertops and utensils, according to the FDA. (iStock / iStock)
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“We sincerely apologize for any inconvenience this may cause. As a small business, we are committed to doing the right thing and correct any issues,” Raaw Energy said in a statement.
“We appreciate your patience and understanding as we focus on making these improvements and ensuring that our products meet the standards our customers expect and deserve.”
The FDA first announced the recall in January. Consumers can view the complete list of recalled products on the FDA’s website.
Raaw Energy did not immediately respond to FOX Business’ request for comment.
Business
Strengthening ASEAN’s resilience to drive sustained economic growth
ASEAN showcases its resilience by turning global challenges into opportunities for enhanced integration and sustainable growth. Despite ongoing conflicts driving up commodity prices and straining economies, ASEAN remains committed to dialogue, institution-building, and fostering mutual restraint.
🌏 ASEAN’s Resilience and Strategy
- Resilience through cooperation: ASEAN has consistently turned crises into opportunities by prioritizing dialogue, institution-building, and restraint over escalation.
- Historic milestones: The ASEAN Free Trade Area (1992) and ASEAN Economic Community (2000s) deepened integration and investor confidence.
- Crisis-driven reforms: The Asian financial crisis led to the ASEAN Surveillance Process (1998) and Chiang Mai Initiative (2000). COVID-19 prompted the Hanoi Plan of Action to safeguard supply chains.
📈 Economic Growth and Integration
- Strong performance: ASEAN’s GDP grew from $2.5T (2015) to $4.3T (2025); trade nearly doubled to $4.4T; FDI rose from $115B to $242B.
- Future outlook: The Asian Development Bank projects 4.6% growth in 2026, driven by domestic demand and infrastructure investment.
⚡ Energy and Technology Drivers
- Energy transition: Demand surged 35% in the past decade; clean energy investment ($47B in 2025) nearly matched fossil fuels. Initiatives include the ASEAN Power Grid and cross-border integration projects.
- Digital economy: The Digital Economy Framework Agreement (DEFA) could double ASEAN’s digital economy to $2T by 2030, leveraging youth demographics and rapid tech adoption.
🌐 Geopolitical and Regional Challenges
- External pressures: Conflicts raise commodity prices and disrupt trade routes, but ASEAN emphasizes resilience as a condition for growth.
- Regional issues: ASEAN supports humanitarian aid in Myanmar and promotes dialogue on South China Sea disputes. Timor-Leste’s accession in 2025 highlights inclusiveness and adaptability.
The bloc’s history shows a recurring ability to adapt, from the ASEAN Free Trade Area to the ASEAN Economic Community, strengthening trade and investor confidence. This adaptability, coupled with a focus on energy transformation and digital cooperation, positions ASEAN to navigate geopolitical shifts and continue its economic expansion, making resilience its strategic advantage in a fragmented world.
Read More : Building ASEAN’s resilience to fuel further economic growth | World Economic Forum
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Uber weighs higher bid for Delivery Hero, FT reports

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John Hancock Alternative Asset Allocation Fund Q1 2026 Commentary
A company of Manulife Investment Management, John Hancock Investment Management serves investors through a unique multimanager approach, complementing our extensive in-house capabilities with an unrivaled network of specialized asset managers, backed by some of the most rigorous investment oversight in the industry. The result is a diverse lineup of time-tested investments from a premier asset manager with a heritage of financial stewardship. Note: This account is not managed or monitored by John Hancock Investment Management, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use John Hancock Investment Management’s official channels.
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Forensic experts sift through ruined dormitory in Russian-held Luhansk region

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Calamos Convertible And High Income Fund Q1 2026 Commentary
Calamos Investments is a diversified global investment firm offering innovative investment strategies including U.S. growth equity, global equity, convertible, multi-asset and alternatives. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in London, New York and San Francisco. For more information, please visit www.calamos.com.
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Guzman y Gomez permanently closes all 8 US restaurants in Chicago area
Check out what’s clicking on FoxBusiness.com.
Guzman y Gomez Mexican Kitchen, an Australian-born Chipotle rival that once planned to open hundreds of U.S. locations, has abruptly closed all of its American restaurants after six years in the Chicago area.
“All GYG USA restaurants permanently closed,” a message on the company’s U.S. website says. “Effective from May 22nd, GYG USA restaurants will cease trading. Thank you for your support.”
The chain also announced the move on Instagram, thanking customers and employees in Chicagoland, where all eight of its U.S. restaurants were located.
“After six years of burritos and big dreams in Chicagoland, we’ve made the difficult decision to close our US restaurants,” the post read. “To every guest who came through our doors – you chose us, and we never took that for granted.”
CAVA BUCKS RESTAURANT INDUSTRY TREND WITH SUCCESSFUL NO-DISCOUNT STRATEGY

A Guzman y Gomez restaurant in Sydney, Australia, on Wednesday, Feb. 18, 2026. (Brent Lewin/Bloomberg via Getty Images / Getty Images)

Guzman y Gomez’s U.S. website shows just a message of its sudden closing Friday.
“To our team – thank you. Your passion and your purpose built something special. If you’re ever in Australia, Singapore or Japan, come find us – we’ll have your favs waiting for you. Chicagoland, Thank you!”
The shutdown marks a sharp reversal for Guzman y Gomez, which had recently reaffirmed its intent to expand in the U.S. market. The company (ASX: GYG) was founded in Australia by native New Yorkers Steven Marks and Robert Hazan and made its U.S. debut in 2020 with ambitions to build a much larger American footprint.
“I have always been confident in the differentiation of our food and guest experience, however this was not translating to an improvement in sales momentum,” Marks said in an Australian Securities Exchange announcement, Business News Australia reported.

An employee prepares food at a Guzman y Gomez restaurant in Sydney, Australia, on Wednesday, Dec. 13, 2023. (Brent Lewin/Bloomberg via Getty Images / Getty Images)
“Having spent the last three months in the US, I realized this was going to take significantly more time and capital than we had expected.
“In assessing the trajectory of the current network, the board and I have concluded that the business is unlikely to deliver the performance that would justify continued investment of shareholder capital.”
FMR FAST FOOD CEO PREDICTS MORE RESTAURANTS WILL CLOSE NATIONWIDE OVER HIGHER PRICES

Guzman y Gomez says adios to the U.S., but remains active in Australia, Japan and Singapore. (Guzman Y Gomez/Instagram / Unknown)
The company chose the Chicago area as its entry point. At the time, its founders said they intended to open “hundreds, if not thousands” of Guzman y Gomez locations across the country.
Instead, the company is exiting the U.S. entirely, which has helped is stock price in Australia surge more than $3 Australian from $18.05 to $21.10 when the news dropped Friday morning.
“We have a long runway ahead of us in Australia as we progress towards our longterm target of 1,000 restaurants and segment underlying EBITDA as a percentage of network sales of 10%,” Marks said.
“Concentrating our capital, focus and infrastructure behind this opportunity is the most effective way to compound shareholder value over the long term.”
The retreat comes as U.S. restaurants face pressure from cautious consumers, higher food costs and declining traffic.
ITALIAN RESTAURANT CHAIN FILES FOR BANKRUPTCY, CITING INFLATION AND HIGHER INTEREST RATES

Guzman y Gomez (ASX: GYG), an Australian-based Chipotle rival in Chicago, is forced to close all its Chicago-area restaurants. (Brent Lewin/Bloomberg via Getty Images / Getty Images)
TheStreet reported that three in 10 Americans have cut back on retail spending and restaurant visits compared with a year earlier, citing S&P Global data. Food-away-from-home prices rose 39.3% from January 2019 to January 2026, far faster than in the previous seven-year period, according to the same report.
Those headwinds have weighed on chains across the industry, especially those trying to scale in crowded categories.
Guzman y Gomez positioned itself as a cleaner take on fast-casual Mexican food, touting no added preservatives, no artificial flavors, no added colors and no “unacceptable additives” on its Australian website.
Its U.S. closure leaves Chipotle — which has roughly 4,000 restaurants — without one of its smaller fast-casual Mexican challengers in the American market.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CMG | CHIPOTLE MEXICAN GRILL INC. | 32.89 | +0.09 | +0.27% |
| CAVA | CAVA GROUP INC | 80.42 | -0.85 | -1.05% |
| QSR | RESTAURANT BRANDS INTERNATIONAL INC. | 75.38 | -0.87 | -1.14% |
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RBC Capital Markets analyst Michael Toner told Reuters the exit could be positive for Guzman y Gomez’s broader business because its U.S. operations had limited prospects and were weighing on earnings.
“The U.S. business had very low prospects of being successful, and the losses of the business were weighing down the earnings of the group so the sooner exit than anticipated is positive,” Toner said.
Reuters contributed to this report.
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