Analysts note ‘quiet revolution’ at FTSE 250 company as its profit before tax reaches £152.9m
11:48, 27 Feb 2026Updated 11:49, 27 Feb 2026
The Port of Liverpool Building, home to the Liverpool office of Rathbones
FTSE 250 firm Rathbones has declared its ambition to become the “best wealth manager in the UK by far”.
Shares climbed 9% to 2,410 pence in early trading on Friday, notching up a 24.6% gain year to date, after the group said pre-tax profit leapt 53.5% to £152.9m, up from £99.6m the prior year. That was underpinned by the performance of integrated synergies and higher funds under management (FUMA) at the Liverpool-founded business.
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The strong results come on the heels of a turbulent period for the broader UK wealth management sector, after several firms witnessed their share prices tumble following the launch of a new AI tool, prompting investors to question how artificial intelligence might reshape or even threaten the industry.
However, Rathbones chief executive Jonathan Sorrell, who assumed the role in August 2025, dismissed such fears, describing AI as a powerful tool that enables advisers to devote greater time to clients and nurture relationships, as reported by City AM.
He said: “We just feel that is a massive opportunity in terms of how it’s going to help achieve…change in our productivity as a business and the quality of service offering that we can provide.
“What it does is free up time to focus…on the human relationship we have with our client.”
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The recent acquisitions of Schroders by American investment firm Nuveen and Evelyn Partners by high street bank Natwest has further fuelled debate around sector trends, though Sorrell maintained the market possesses “long term growth dynamics” and is not “cyclical”. He observed that Rathbone’s clientele, individuals holding assets between £1m and £5m, represent the fastest expanding segment of the market, whilst the drive by the sector and government to encourage greater investment presents “an exciting proposition”.
Whilst he recognised that the “industry will consolidate further over time” he emphasised Rathbone’s is solely seeking to “optimise” its existing operations, with dependable shareholders and the IW&I division positioning the firm for continued expansion.
FUMA climbed to £115.6bn, up from £109.2bn, supported by the market rebounding from first half lows triggered by Trump’s ‘Liberation Day’ tariff upheaval.
The firm confirmed it was extending its £50m share buyback scheme, which it completed in mid February, by £20m, with the group stating that it aims to deploy its “shareholders capital as efficiently as possible”.
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The board proposed a final dividend of 68.0 pence per share, taking the annual total to 99.0 pence, a 6.5 per cent rise. The firm also highlighted the performance of its Investec Wealth and Investment (IW&I) division, which successfully completed its integration earlier in the year.
The operation surpassed expectations, delivering £76m on an annualised run-rate basis, considerably above Rathbones’ £60m target, and establishing the group as the UK’s largest discretionary wealth manager. Sorrel added that it had always set out “to maximise the opportunity” of integrating the business and “identified more areas” where IW&I could contribute to overall growth.
Rathbones also confirmed it wants to become the UK’s leading wealth manager, by establishing itself as the preferred choice for both clients and talent, whilst also enhancing its operational efficiency.
Rathbones still has a base at the waterfront Port of Liverpool Building, while it has another 20 offices across the UK including in Bristol, Cheltenham, Birmingham, Leeds, Manchester and Newcastle.
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Rae Maile of Panmure Liberum observed that there is a “quiet revolution underway”, but cautioned that the wealth manager must stay committed to nurturing client relationships and strengthening capital efficiency.
He said: “Rathbones enjoys strong client relationships, but it must seek to grow new ones as well as managing more effectively inherent redemption activity. “.
“It will seek to do this through clearer definition of and enhancement to its investment capabilities, further penetrating its financial planning and advice capabilities.
“The intention is to simplify the operating model, removing internal frictions and barriers to decision-making and activity, but also to develop further its capital efficiency.”
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Group finance director, Iain Hooley, further noted that rather than concentrating on securing a place in the FTSE 100 in its pursuit of market leadership, the firm is instead focusing its efforts on attracting older clients. Hooley stated: “The opportunity in the wider market with the ageing population, growing levels of wealth…the intergenerational transfer of wealth that’s going to happen, all of these things are definitely playing right into our space.”
TUCSON, Ariz. — The search for Nancy Guthrie, the 84-year-old mother of NBC *Today* show co-host Savannah Guthrie, entered its seventh week on March 21, 2026, with no confirmed breakthroughs, no arrests and growing calls from experts to treat the case as a potential “no-body homicide” amid persistent uncertainty about her fate.
Nancy Guthrie & Savannah Guthrie
Guthrie was last seen at her home in the affluent Catalina Foothills neighborhood of Tucson on the evening of January 31, 2026. She was reported missing the following day after failing to appear for a scheduled virtual church service. Authorities believe she was abducted from her residence against her will, citing drops of her blood found on the front porch and signs of a struggle.
Pima County Sheriff Chris Nanos has described the disappearance as a targeted abduction, telling NBC News last week that investigators believe they know the motive but withheld details to protect the probe’s integrity. He warned residents to remain vigilant, stating the suspect could “absolutely” strike again. The sheriff has faced criticism over early handling, including releasing the home to family too soon — allowing media access to photograph blood evidence — and delays in securing neighbor security footage.
The FBI joined the investigation shortly after the report, amassing thousands of hours of video from doorbell cameras, traffic systems and private residences. Recent releases included footage of an “armed individual” tampering with Guthrie’s doorbell camera, plus images of a masked person believed to have visited the home prior to January 31. FBI agents returned to the neighborhood on March 18 — day 46 of the search — speaking with residents and reviewing additional footage, per law enforcement sources.
Multiple ransom notes have surfaced, some delivered to media outlets like TMZ, demanding payment for her safe return. The family, including Savannah Guthrie, offered a $1 million reward in late February for information leading to her recovery, supplementing the FBI’s $100,000. The private reward generated a surge of tips — more than 1,500 in the first month — though no credible leads have publicly resulted in her location.
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Savannah Guthrie has issued repeated emotional pleas on social media and the *Today* show, urging anyone with information to come forward anonymously. In a February 27 Instagram post, she emphasized, “Please — be the one that brings her home,” attached to a segment highlighting the case. She returned to the show set in early March for off-camera meetings but has kept public appearances limited.
Experts remain divided on the case’s trajectory. Cybersecurity and law enforcement analyst Morgan Wright told NewsNation that the abduction appears targeted rather than random, suggesting the motive may involve personal or financial reasons rather than a burglary gone wrong. He urged authorities to shift toward treating it as a “no-body homicide,” acknowledging hopes for her safe return but preparing for the possibility she is no longer alive. Wright pointed to the lack of sightings, vehicle evidence or confirmed ransom fulfillment as red flags.
Former FBI special agent Harry Trombitas told Yahoo News the search will likely persist “as long as there is an investigation to conduct,” with resources shifting to evidence consolidation rather than broad outreach. Attorney Peter Christiansen described the probe entering a “new stage” focused on clinical analysis of DNA, video and forensics.
DNA evidence includes a glove found near the home matching one worn by the doorbell camera suspect; testing traced it to a restaurant worker, though no direct link to the abduction has been confirmed. A backpack and other items have been examined, but no public breakthroughs emerged. The FBI has focused on specific dates — January 11 and January 24 — seeking additional video from those periods.
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The case has drawn international attention due to Savannah Guthrie’s prominence, prompting discussions on elder safety, family check-in protocols and the trauma of prolonged uncertainty for loved ones. Mental health experts note the emotional toll on families in missing-persons cases deepens with time, especially when hope persists alongside grim possibilities.
As of March 21, 2026, Nancy Guthrie’s condition and whereabouts remain unknown. Authorities continue urging tips via the Pima County Sheriff’s tip line or FBI channels, with anonymity assured and cash rewards available. The investigation, involving local detectives and federal resources, shows no signs of slowing despite the passage of weeks and mounting questions.
For the Guthrie family and community, the wait continues amid prayers and vigils. Savannah Guthrie’s public appeals underscore the enduring hope that information will surface to bring her mother home.
SYDNEY — Japan edged hosts Australia 1-0 in the AFC Women’s Asian Cup final on Saturday, March 21, 2026, securing their third continental crown and denying the Matildas a home triumph in front of a record crowd at Stadium Australia.
Japan 1-0 Matildas
Maika Hamano’s 17th-minute goal proved decisive in the tightly contested match, as Nadeshiko Japan defended resiliently to hold off late pressure from the Matildas. The result marked Japan’s second consecutive Asian Cup title — their first back-to-back wins since the 2014 and 2018 editions — and extended their dominance in the tournament, where they have now won three of the last five finals against Australia.
A crowd of 74,397 — the largest ever for a women’s football match in Australia — packed Stadium Australia, creating an electric atmosphere despite the heartbreak for the home side. South Korean referee Kim Yu-jeong officiated the high-stakes clash, which qualified both finalists for the 2027 FIFA Women’s World Cup co-hosted by Brazil, with additional World Cup berths awarded to semifinalists.
Japan, ranked No. 1 in the world by FIFA entering the tournament, entered as favorites after dismantling South Korea 4-1 in the semifinals. Riko Ueki led the Golden Boot race with six goals, though Hamano’s clinical finish in the final stole the headlines. The midfielder latched onto a precise through ball, evading defenders before slotting past goalkeeper Jada Mathyssen-Whyman.
Australia, coached by Joe Montemurro, fought valiantly but struggled to convert chances. Captain Sam Kerr, who scored crucial goals en route to the final including the winner against China in the semifinals, tested Japan’s backline repeatedly but found no breakthrough. The Matildas’ campaign ended in familiar disappointment against Japan, echoing defeats in the 2014 and 2018 finals — both also 1-0 losses.
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Japan coach Futoshi Ikeda praised his team’s composure under pressure. “We knew Australia would come hard, especially at home,” he said post-match. “Our focus on possession and quick transitions paid off. This victory is for every Japanese player who has built this legacy.”
Montemurro acknowledged the gap but highlighted progress. “Japan are the benchmark right now,” he told reporters. “We created opportunities but couldn’t finish. The crowd was incredible, and we’ll use this as fuel for the World Cup.”
The tournament, hosted across Sydney, Perth and other venues from March 1-21, set attendance records and showcased Asia’s rising talent. Japan topped Group C unbeaten, scoring 17 goals without conceding, while Australia navigated a tough Group A as runners-up before surging through knockouts with wins over DPR Korea and China.
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Key moments included Japan’s clinical semifinal display against South Korea, where Ueki, Hamano and Saki Kumagai scored, and Australia’s gritty 2-1 semifinal victory over China, powered by Kerr’s late strike. The final lived up to hype as a clash of styles: Japan’s technical precision against Australia’s physicality and set-piece threat.
Japan’s triumph extends their regional supremacy, with three titles in the last decade. The win also boosts confidence ahead of the 2027 World Cup, where they aim to improve on their 2011 world championship.
For Australia, the loss stings but highlights growth. The Matildas, world No. 4, drew massive local support and advanced deeper than expected despite pre-tournament injury concerns. Kerr’s form and emerging talents like Courtney Nevin signal promise for future campaigns.
The match capped a successful tournament for the AFC, with strong crowds, competitive play and increased global visibility for women’s football in Asia. Japan lift the trophy as deserving champions, while Australia reflect on a valiant effort that fell just short.
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As celebrations echoed in Sydney, Nadeshiko Japan began preparations for their next challenge, carrying continental pride into the global spotlight.
Juan de la Hoz has worked as a fixed income trader, financial analyst, operations analyst, and as an economics professor. He has experience analyzing, trading, and negotiating fixed-income securities, including bonds, money markets, and interbank trade financing, across markets and currencies. He focuses on dividend, bond, and income funds, with a strong focus on ETFs. Juan is a contributor to the investing group CEF/ETF Income Laboratory which is led by Stanford Chemist. Features of the service include: managed income portfolios (targeting safe and reliable ~8% yields) making use of high-yield opportunities in the CEF and ETF fund space. These are geared toward both active and passive investors of all experience levels. The vast majority of CEF/ETF Income Laboratory holdings are also monthly-payers, for faster compounding and steady income streams. Other features include 24/7 chat, and trade alerts. Learn More.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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Nissan’s logo is illuminated on a prototype of its new all-electric Ariya crossover. Nissan’s Z Proto performance car is reflected in the vehicle’s grille, while a redesigned Nissan Pathfinder SUV sits in the background.
Michael Wayland / CNBC
Nissan Motor plans to introduce a new type of hybrid to the U.S. market that drives like an all-electric vehicle but is powered — not driven — by a traditional gas-powered engine.
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The new Nissan “e-Power” is called a series hybrid. It uses the engine as a generator to power the vehicle’s electric motors that then propel the vehicle. It operates like emerging extended-range electric vehicles, or EREVs, but has a smaller battery and doesn’t require a plug.
It’s also different from a traditional hybrid, such as the Toyota Prius, because the gas engine in those vehicles is used to propel the vehicle. The series hybrid’s engine just keeps the battery charged to power the electric motors in the vehicles.
The e-Power hybrid system for Nissan is planned to launch domestically later this year in a new version of its popular Rogue compact SUV.
Timing for such a vehicle could be ideal for Nissan with climbing gas prices, slower-than-planned adoption of EVs and an expected surge in hybrid sales amid new entries, according to officials.
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After losing billions of dollars on EVs, automakers such as Nissan are turning to hybrid vehicles to meet customer expectations for fuel economy and to help with driving performance.
S&P Global Mobility expects hybrids in the U.S. this year to increase to 18.4% of new vehicle sales, up from 12.6% last year and 7.3% in 2023. It’s forecasting pure EVs, meanwhile, will be 7.1% of new vehicle sales, down from 8% last year.
“This is a unique powertrain for the for the U.S.,” Kurt Rosolowsky, Nissan North America vehicle evaluation and test engineer, said during a media briefing. “This is an electrically driven vehicle, as far as what is powering the wheels, but it doesn’t have a plug, and you fill it up with gas like you do with a normal car.”
Series hybrids
Nissan and other automakers have used series hybrids elsewhere, particularly in Asia, but companies have been reluctant to bring the vehicles to the U.S. because of consumer expectations for driving dynamics and power.
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To address those concerns, Nissan said it has developed a more powerful 1.5-liter, three-cylinder turbocharged engine specifically for the e-Power system, in addition to new packaging and other upgrades, to appease American buyers.
“The turbo is only there to serve efficiency at higher speeds for the gas engine to deliver energy,” Rosolowsky said.
The e-Power for the U.S. market is Nissan’s third generation of the series hybrid since it debuted in Japan in 2016. Since then, Nissan said it has sold more than 1.6 million vehicles globally with e-Power in nearly 70 countries.
“I think it’s going to be a really good system. I think it’s going to be very popular for Nissan in the new Rogue when it arrives later this year,” said Sam Abuelsamid, vice president of market research at communications and consulting firm Telemetry.
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Abuelsamid said the only real drawback to the series hybrid is that it’s less efficient at higher speeds, which Nissan is trying to overcome with the new engine as well as battery size.
Driving e-Power
Driving a European version of the Nissan Rogue Sport sold with the ePower system around suburban Detroit, the vehicle’s driving dynamics — specifically fast acceleration and regenerative braking — are formidable.
They come with the familiar sound of an engine revving but without the shifting or sputtering of transmission gears and far less noise, vibration and harshness, or NVH, as the industry commonly refers to it.
“The driving experience really is what makes it different with those fewer components. You have less noise and less vibration,” Rosolowsky said.
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Nissan e-Power logo
Courtesy Nissan
Unlike traditional gas-powered vehicles, the e-Power system also does not require a traditional transmission to shift gears or a driveshaft that transfers torque from the transmission to the differential, powering the wheels.
While the Rogue Sport is a smaller vehicle and only forward-wheel-drive, it’s easy to see how the system will translate to a larger vehicle with all-wheel-drive, which the new Rogue with e-Power will be.
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The lack of a plug, some engine noise and slight vibration also might be more familiar for drivers who have been reluctant to adopt all-electric vehicles.
While Nissan is not releasing specifics such as pricing or fuel economy for the upcoming Rogue with e-Power, the Rogue Sport was achieving more than 40 miles per gallon during heavy city driving, according to the vehicle’s MPG system.
The current Nissan Rogue, depending on the model, can achieve more than 30 MPG, according to U.S. Department of Energy and the U.S. Environmental Protection Agency.
Nissan’s vehicles historically been less fuel efficient than those from its larger Japanese rivals. Honda Motor and Toyota Motor, the latter of which pioneered traditional hybrids with the Prius and continues to dominate the sector in the U.S.
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Nissan declined to discuss the possibility of expanding the e-Power system to other vehicles in the U.S., but confirmed the new system is modular and capable of working with many different engines.
“If we were to expand this to other vehicles, you can theoretically bolt this onto another gasoline engine of a different size and have more options for an e-Power system,” Rosolowsky said.
A mini burger, mini fries and mini beer, Clinton Hall’s “Teeny Weeny Mini Meal”, is pictured next to a regular-sized combo on Dec. 8, 2025 in New York City. Approximately one in eight American adults are currently taking drugs from the class of GLP-1 agonists that are now popular for weight loss, according to a November poll by the non-profit health policy tracker KFF. Some in the restaurant industry are taking note.
Angela Weiss | AFP | Getty Images
The cost of GLP-1 drugs is falling, and pill versions are hitting the U.S. market. For restaurant chains and snacking giants, higher adoption of weight loss and diabetes treatments poses a threat to their sales — or an opportunity.
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GLP-1 drugs slow digestion, suppress users’ appetites and increase satiety. For many restaurants and packaged food manufacturers, those reactions will likely mean weaker sales. Adults who use GLP-1s consume 21% fewer calories and spend nearly a third less on grocery bills on average, according to KPMG. JPMorgan estimates the growing use of the medications could wipe out $30 billion to $55 billion in annual sales for the food and beverage industry as soon as 2030.
About one in every eight U.S. adults is currently taking a GLP-1 drug like Ozempic or Zepbound, according to the KFF Health Tracking Poll conducted from Oct. 27 to Nov. 2. That number doesn’t include consumers who have discontinued their use of the drugs; 18% of respondents said that they have taken a GLP-1 medication at some point.
Those numbers are expected to keep climbing, especially after Novo Nordisk launched its Wegovy pill in January and Eli Lilly prepares to roll out its own oral drug this year. By 2030, more than 30 million Americans could be on a GLP-1 treatment, up from 10 million in 2026, based on J.P. Morgan estimates.
Michael Siluk | UCG | Universal Images Group | Getty Images
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But the shift also presents an opportunity for restaurants and food and beverage companies.
With new protein- and fiber-rich options, many businesses are hoping to win over GLP-1 consumers and mollify investors’ concerns about how the treatments will affect their bottom lines.
“Whether it is labeling as GLP-1 friendly, decreasing the serving size, emphasizing protein content, or even when you shift over to the beverage world, because hydration is certainly a concern, there are a number of players that are starting to react to this,” said Don K. Johnson, principal of strategy and execution for EY-Parthenon.
Skipping snacks and breakfast
About half of GLP-1 users report consuming fewer calories while taking the medications, according to UBS Evidence Lab. But the effects aren’t even across the industry, and “certain categories are more impacted than others,” Johnson said.
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Snacking, once one of the fastest-growing grocery segments, has taken the biggest hit. About 70% of GLP-1 users who report consuming fewer calories said that they are snacking less, according to a survey conducted by EY-Parthenon last spring.
“I think it is about the specific type of snack, but I do think they’re also snacking less … Having said that, we do see that there is a shift to healthier foods, and that certainly will include healthier snacking,” Johnson said.
Think more yogurt, nuts or fruit, and fewer chips or pretzels.
Since GLP-1 drugs lead patients to lower their caloric intake, every calorie consumed means more. Protein intake is more important to prevent muscle loss. So, too, is fiber to support gut health and digestion. And staying hydrated helps mitigate some of the drugs’ side effects, like nausea and headaches.
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The effects of eating less extend to restaurants. About 60% of those respondents to the EY-Parthenon survey said that they are dining out less frequently.
The shift could also hit full-service restaurants where diners order a drink with their meals. Roughly 45% of survey respondents who are eating and drinking less said that they are drinking less alcohol.
Surveys conducted by Bernstein indicate that the frequency of restaurant visits among GLP-1 users can fall by as much as 45%, depending on the category of food and the nature of the occasion, analyst Danilo Gargiulo of Bernstein wrote in a research note published on Tuesday.
The pullback in restaurant visits isn’t spread evenly across times of day, according to Dana Baggett, executive director of restaurant client strategy at RRD, which works with more than 200 restaurant brands.
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Lunch, so far, hasn’t been impacted, she said. But breakfast has taken a hit, particularly from high-income GLP-1 users, who represent a bigger percentage of current patients, she said. In practice, that means fewer sugary coffee drinks and doughnuts, although options like Starbucks‘ protein cold foam could encourage those consumers to return.
A commercial for GLP-1 drugs during the Super Bowl LX broadcast on television screens at a bar in Los Angeles, California, US, on Sunday, Feb. 8, 2026.
Jill Connelly | Bloomberg | Getty Images
Dinner, especially at fast-food restaurants, has taken the brunt of the damage so far.
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Dinner traffic has fallen 6% among consumers who have been taking the medication regularly, according to Baggett; in other words, overall restaurant sales during dinner hours have declined about 0.4% due to GLP-1 use, she said. But as the number of consumers who use the drug consistently grows, so too will the pressure on restaurant traffic.
And snacking isn’t confined to grocery store aisles. For limited-service restaurants, like McDonald’s or Taco Bell, snacking accounts for 12% of spending, according to Bank of America Global Research.
Even so, threats to those large restaurants chains may only be gradual, which gives them time to adapt.
“I think there shouldn’t be this panic out there in the marketplace, but this is a trend that’s not going away,” Baggett said. “This is an amazing opportunity for brands to start repositioning themselves and focusing on what consumers want: less sugar, higher protein and that focus on fiber.”
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How Big Food is evolving
If recent earnings conference calls are any example, restaurant and food executives also think that it isn’t time to panic just yet. For some companies, the trend offers a chance to reach new customers through healthier options.
“I think there are more opportunities than threats, but there are both,” PepsiCo CEO Ramon Laguarta told Wall Street analysts on the company’s earnings conference call in early February.
In recent months, Pepsi has released protein-packed Doritos, relaunched Gatorade and unveiled fiber-rich varieties ofSunChips and Smartfood popcorn. Those moves are part of the company’s broader strategy to modernize its portfolio and boost sales by appealing to health-conscious consumers, but they also align with Laguarta’s assumption that GLP-1 medications will be adopted more broadly.
Domino’s Pizza CEO Russell Weiner sounded unshaken when he told analysts last month that the pizza chain hasn’t seen GLP-1 drugs affect its sales yet.
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“Dinner, for us, is a sharing occasion, so perhaps that’s why we’re not seeing any impact, but we’re going to continue to watch it,” he said. “But if there needs to be menu innovation around that, we will do that.”
RRD’s Baggett told CNBC that she thinks portions and snack sizing will be key for restaurants to attract consumers who are on GLP-1 treatments.
When asked about the drugs on McDonald’s earnings conference call last month, CEO Chris Kempczinski touted the burger chain’s existing protein options. But he added that the preferences of GLP-1 users are also being considered as the chain creates new menu items.
“We’re also seeing changes around maybe less snacking, changes in some of the beverages that they drink, less sugary drinks, and so all of those things are factoring into some of what we’re out there experimenting with and testing with,” he said.
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Other restaurant chains have already launched options that appeal to diners on GLP-1 drugs, even if the medications weren’t the key impetus. For example, Chipotle launched grab-and-go protein cups in December, aiming to cash in on the protein and snacking crazes as its restaurant sales struggled.
And Olive Garden, owned by Darden Restaurants, released a Lighter Portions menu last year, downsizing a handful of its classic entrees at a lower price. Darden CEO Rick Cardenas said that the chain introduced the new menu to give all of its customers more options.
“It just so happens to benefit the consumers that might want smaller portions that are on GLP-1 medications, and we have a lot of options like that in all of our menus,” Cardenas said on the company’s earnings conference call in December.
Marketing to GLP-1 users
Other companies have explicitly appealedto GLP-1 users, particularly when it comes to innovation.
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In 2024, Nestle led the pack when it launched Virtual Pursuit, a frozen-food brand targeting GLP-1 users. While the packaging initially didn’t call out that it was “GLP-1 friendly,” the food company updated it later to include it prominently, boosting sales.
“It’s a big initiative for Nestle,” Nestle USA CEO Marty Thompson told CNBC at a media event earlier in March. “There will be those things that are designed for GLP-1, and there will be those things that will be sort of a companion to GLP-1, clearly calling out protein and fiber, but not necessarily designed portion-size wise or whatever for GLP-1.”
Nestle’s focus will extend beyond food, too. Thompson said that the company plans to expand into beverages and listed protein shakes as one potential way to appeal to GLP-1 customers.
Even food companies without much exposure to GLP-1 users are broadening their portfolios to reach them.
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Close-up view of Dippin’ Dots ice cream cup in a person’s hand, Santa Cruz, California, June 22, 2024.
Smith Collection | Gado | Archive Photos | Getty Images
For example, Dippin’ Dots and Icee owner J&J Snack Foods makes most of its sales in stadiums, theme parks and malls. Because of its “experiential” focus, CEO Dan Fachner told CNBC that he thinks that J&J is more insulated from the effect of GLP-1 drugs compared with its snacking peers.
“I still think that in most cases, even people on GLP-1 drugs will still use those occasions for snacking,” he said.
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Even still, more than a year ago, Fachner presented employees with a challenge for the company’s grocery business, which accounts for 13.5% of annual sales.
“Take the core products — pretzels and churros and Icees and Dippin’ Dots and frozen novelties — tell me how we can make them more GLP-1 friendly as it continues to grow,” he said.
This year, J&J has a number of new products hitting the freezer aisle. Protein has been added to its soft pretzels, now available in a smaller portion size. And Luigi’s Italian Ice, traditionally sold in a cup, will come in a “mini pop size,” with a formula that includes more antioxidants or helps hydration, according to Fachner. If the new products succeed in grocery stores, then J&J plans to take themto the company’s food service customers, as well.
J&J’s new products also have the benefit of appealing to a wider audience than just consumers who are on GLP-1 medication. For example,Fachner expects the new Luigi’s mini pops will appeal to health-conscious moms as a snack for their kids.
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Uptake could change strategies
For restaurants and food suppliers, current data on the eating and drinking habits of GLP-1 users are informing their efforts to appeal to those consumers. But that behavior can still fluctuate.
About 5% of users lapse in taking the medications, due to cost, side effects or hitting their weight goal. After quitting, they tend to maintain the same eating habits for a couple of months before eventually returning to a higher caloric intake.
“I think that we don’t spend enough time talking about the fact that there may be sort of a cycle of behaviors — people going on and off of the drugs — that will have sort of an interesting impact on manufacturers of food because there’s no ‘before’ and ‘after,’” EY’s Johnson said. “It’s a process.”
And a whole new group of consumers could soon be taking daily pill versions of GLP-1 medications. It’s too soon to tell if oral GLP-1 drugs will result in more consistent usage or higher quit rates and to know who exactly is trying the pill version over the injectable.
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“I don’t have a crystal ball, but my guess is from our survey that the folks using the oral version of the drug will be a new set of people, because one of the barriers to trial was — as can be expected — a lot of people don’t like to take shots of injections,” Johnson said.
There is one prediction that is widely accepted: the pill version will mean much higher adoption of GLP-1 drugs.
BOSTON — People with type 1 diabetes face nearly three times the risk of developing dementia compared with those without diabetes, according to a large new U.S. cohort study published March 18, 2026, in *Neurology*, the medical journal of the American Academy of Neurology. The findings highlight a stronger association for type 1 than for type 2 diabetes and raise concerns as advances in care allow more individuals with type 1 to reach older ages.
type 1 and type 2 diabetes
Led by Jennifer Weuve, MPH, ScD, of Boston University School of Public Health, the research drew on data from the National Institutes of Health’s All of Us Research Program, analyzing electronic health records and surveys from 283,772 adults aged 50 and older (mean age 65, 57% women). Of these, 5,442 (1.9%) had type 1 diabetes and 51,511 (18.2%) had type 2. An algorithm distinguished diabetes types, validated against self-reports and C-peptide levels.
Over an average 2.4-year follow-up (2017–2023), 2,348 participants (0.83%) developed dementia. Incidence rates were 2.6% among those with type 1 diabetes, 1.8% with type 2 and 0.6% without diabetes. After adjusting for sociodemographic factors — age, sex, race/ethnicity, education and household income — the hazard ratio for all-cause dementia was 2.82 (95% CI 2.28-3.48) for type 1 diabetes and 2.08 (95% CI 1.87-2.31) for type 2, relative to no diabetes.
The elevated risk held across genders, racial/ethnic groups and persisted even after accounting for lifestyle factors like smoking and alcohol use in supplementary analyses. Researchers estimated that about 65% of dementia cases among people with type 1 diabetes could be attributed to the condition itself.
“We have known that type 2 diabetes is linked to an increased risk of dementia, but this new research suggests that, unfortunately, the association may be even stronger for those with type 1 diabetes,” Weuve said in a statement. “As advances in medical care have extended the lives of people with type 1 diabetes, it’s becoming increasingly important to understand the relation of type 1 diabetes to the risk of dementia.”
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The study adds to prior evidence, including a 2025 Swedish nationwide registry analysis of over 43,000 people with type 1 diabetes showing a roughly twofold higher risk (HR 2.02 for all-cause dementia) over 14 years, with particularly elevated vascular dementia (HR 3.73). That research identified additional risk factors like higher HbA1c, systolic blood pressure, cardiovascular history, stroke/transient ischemic attack, lower education, single status and longer diabetes duration.
Mechanisms linking diabetes to dementia remain under study. Chronic hyperglycemia may damage blood vessels and promote inflammation, contributing to vascular dementia and cognitive decline. Hypoglycemia episodes, more common in type 1 due to insulin therapy, could also play a role by causing brain injury over time. Type 1’s autoimmune nature and earlier onset might amplify long-term brain effects compared with type 2, often tied to insulin resistance and metabolic syndrome.
The U.S. study’s shorter follow-up contrasts with longer-term cohorts but benefits from diverse representation through All of Us, aiming to address underrepresentation in research. Limitations include reliance on electronic records (potential misclassification), short observation period (limiting detection of slower-onset dementias) and exclusion of some dementia subtypes like frontotemporal or Lewy body.
Experts emphasize the association does not prove causation. “This study shows an association and does not prove that diabetes causes dementia,” the American Academy of Neurology noted in its release. Researchers called for further investigation into mechanisms, including potential roles of glycemic variability, insulin therapy and neuroprotective strategies.
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For patients and clinicians, the findings underscore proactive brain health measures. Good glycemic control, blood pressure management, cardiovascular risk reduction, regular cognitive screening and lifestyle interventions — exercise, diet, social engagement — may help mitigate risks. As type 1 populations age, with more reaching 65+, targeted prevention becomes critical.
The results align with growing recognition of diabetes as a modifiable dementia risk factor. Previous meta-analyses and cohorts have linked type 2 to 50-100% higher odds, but type 1 data were scarcer until recent large-scale efforts.
As the global population with type 1 diabetes grows older thanks to better management, studies like this highlight the need for integrated care addressing both metabolic and neurological health. Future research may explore whether advanced insulin pumps, continuous glucose monitoring or emerging therapies reduce long-term brain risks.
SEOUL — BTS unleashed their highly anticipated full-group comeback with the release of their fifth studio album “ARIRANG” on March 20, 2026, and the official music video for lead single “SWIM” quickly became a global sensation, amassing over 36 million views on YouTube within its first day while topping trending charts worldwide.
BTS ‘SWIM’ Official MV
Directed by acclaimed Spanish filmmaker Tanu Muiño and starring American actress Lili Reinhart, the “SWIM” MV delivers a sweeping, cinematic narrative set against the vast ocean. Filmed on a massive sailing ship in Lisbon, Portugal, the video blends high-seas drama with introspective moments, featuring all seven members — RM, Jin, Suga, j-hope, Jimin, V and Jung Kook — navigating ropes, steering through waves and reflecting on perseverance amid life’s challenges. Reinhart appears as a central figure facing personal turmoil, with BTS encouraging her metaphorical “swim” forward, symbolizing resilience and forward momentum.
The production, overseen by HYBE Chairman Bang Si-hyuk, showcases overwhelming scale and visual beauty through intricate sets, dynamic camera work and stunning ocean backdrops. Credits highlight an UnderWonder Content Production with Jason Baum as producer, and music helmed by Tyler Spry and Leclair. The track itself is an alternative pop anthem with a minimalist, repetitive chorus — “Swim, swim / Water falling off your skin” — that builds into an uplifting message of enduring obstacles without stopping.
Fans and critics have lauded the MV’s maturity and emotional depth. Billboard described it as “a cinematic experience” that sees the members “work the ropes and navigate a sailing ship,” emphasizing its high-seas drama. ARMY reactions flooded social media, with many calling it “beautiful” and “peak BTS visuals,” praising the aesthetic, vibes and how it captures the group’s evolution after a nearly four-year hiatus from full-album releases. One popular reaction video noted the MV’s prettiness but expressed a desire for more intense choreography, while others highlighted the song’s subtle charm that grows with repeated listens.
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Jimin explained the track’s meaning in pre-release comments, saying it reflects BTS’s current mindset: “still moving forward” despite challenges. V admitted initially finding “SWIM” “unstimulating” but noted its lasting appeal, while RM revealed the group deliberated longest over selecting it as the title track, underscoring its thoughtful fit for this era. The lyrics encourage embracing life’s waves, with lines like “I could spend a lifetime watching you swim” evoking support and admiration.
The video’s rapid success — surpassing 5 million views in the first hour and becoming the most-liked music video of 2026 on YouTube in under three hours — underscores ARMY’s fervor for BTS’s return. It hit #1 on YouTube’s music trending chart shortly after premiere at 1 p.m. KST (0 a.m. ET) on March 20, coinciding with “ARIRANG”‘s drop. The 14-track album draws its name from the traditional Korean folk song “Arirang,” exploring themes of identity, longing, separation and reunion.
“SWIM” stands out for its understated production: a simple, monotone yet catchy hook anchors the verses, avoiding bombastic drops in favor of emotional resonance. Reviews like The Bias List called it “fine” in a year of solid but not revolutionary K-pop releases, appreciating its repetition without overstimulation. Fan discussions on Reddit noted the song’s strength contrasting some feelings that the MV felt “underwhelming” compared to expectations, though album production overall earned high marks as “peak” BTS.
The comeback extends beyond the MV. BTS is set for a special concert at Gwanghwamun Square in Seoul on March 21, 2026, with a world tour planned across 34 regions, including Australian dates in 2027. The release marks their first full-group album since before military service hiatuses, symbolizing reunion and renewed artistic direction.
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As “SWIM” continues climbing charts and inspiring covers, reactions and fan theories, it solidifies BTS’s ability to blend grand visuals with introspective messaging. In a statement tied to the era, the group emphasized perseverance — a theme mirrored in the video’s nautical journey — reminding listeners that even in turbulent waters, the key is to keep swimming.
With the album receiving widespread acclaim for its depth and the MV’s stunning execution, “SWIM” has set a high bar for BTS’s 2026 chapter, proving their enduring global impact.
Despite weak broader markets and rising geopolitical tensions, select smallcap stocks delivered sharp gains this week, with some surging over 40%. The rally highlights pockets of strength in sectors like chemicals, energy, and industrials, even as inflation concerns and global uncertainties continue to weigh on overall market sentiment.
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