Sweet collab serves up a taste of nostalgic Portrush summers

Two of Northern Ireland’s standout independent hospitality and food brands are joining forces for a limited-edition summer treat designed to make August stays in Portrush even sweeter.

Guests who book an overnight stay directly with Elephant Rock Boutique Hotel will receive a complimentary 50g bar of Melting Pot Fudge, the Belfast-born handmade fudge brand known for its bold personality, indulgent flavours and “Fudge it ’til you make it” attitude.

Elephant Rock will also be serving an Espresso Fudgetini – a bespoke cocktail created using Melting Pot Fudge, bringing together rich coffee, smooth sweetness and a playful coastal twist.

Elephant Rock, twice named Ulster’s Romantic Hotel of the Year, has become one of Portrush’s most distinctive places to stay, combining beautifully designed rooms, coastal charm, standout food and drink, and warm hospitality just moments from the sea.

With Portrush continuing to attract visitors for its beaches, restaurants, golf, coastal walks and access to the wider Causeway Coast, the hotel is perfectly placed for people looking to make the most of a Northern Ireland summer escape.

The award-winning Melting Pot Fudge has been building momentum with new retail listings, refreshed branding and a growing reputation for fudge that feels fun, modern and proudly local.

Jack McAdorey, General Manager, Melting Pot Fudge, said: “This is exactly the kind of collaboration we love. Elephant Rock is one of Northern Ireland’s most beautiful boutique hotels and Portrush in August is hard to beat. We wanted to give guests a little taste of Melting Pot Fudge when they arrive and then bring the brand to life in a fun way through the Espresso Fudgetini.

“For us, it’s about working with brilliant local partners who know how to create an experience people remember.”

Charlotte Dixon, Managing Director, Elephant Rock Boutique Hotel, said: “When I think of August in Portrush, I think of those nostalgic summer holidays by the sea, where a visit to a traditional sweet shop was always part of the experience.

“This collaboration feels like a lovely nod to that. Portrush has such a strong connection with people across Northern Ireland – it feels like almost everyone has a childhood memory of this place, from family picnics and days at the beach to seaside treats, sticks of rock, toffee and the little indulgences people remember from family getaways.

“Melting Pot Fudge brings that feeling into the hotel in a really fun, modern way. Our rooms, food, cocktails and location all come together to create happy memories for the guests who choose to stay with us. And of course, those memories can now be topped off with a delicious Espresso Fudgetini.”

The Melting Pot Fudge x Elephant Rock Boutique Hotel collaboration will run throughout August, with complimentary 50g bars available for direct booking guests and the Espresso Fudgetini available from the hotel bar for a limited time only.

Americans who are looking to buy a home for the first time are seeing some gradual improvement in affordability, though the market remains far more challenging than it was before the COVID-19 pandemic – particularly in some parts of the country.

A new analysis by Realtor.com finds that the cost of a typical starter home has risen from $256,000 in 2019 to $344,000, while the share of affordable listings priced under $350,000 has fallen from 55% to 37.6% in that period.

Realtor.com senior economist Hannah Jones told FOX Business that the market for starter homes has changed “dramatically” since the pandemic, with shifts driven by higher mortgage rates and inventory limitations.

“Factoring in mortgage rates, the income needed to qualify has risen from $43,000 to $78,000, a jump that incomes haven’t matched, and monthly payments are up more than 80% since 2019,” she said. “Altogether, buyers are paying more for less and the squeeze is most severe for the bottom tier of earners.”

WHY HOMEBUYERS ARE RACING TO THIS PENNSYLVANIA PORT CITY

Starter homes are more scarce and higher priced than they were before the pandemic, though those metrics have improved in the last few years. (Eric Thayer/Bloomberg/Getty Images)

Those dynamics have contributed to a rise in the age of the average first-time homebuyer to 40 years old, with Jones noting that the share of first-time buyers was only 30% a year ago – though it recovered somewhat to 35% in May.

“The profile has shifted toward higher-income households who can qualify at current rates, because lower-income buyers have largely been priced out,” she said.

“More households are pooling resources, living with parents longer to save, or relocating to more affordable markets. The practical effect is that today’s starter home buyer increasingly resembles the move-up buyer of a decade ago,” Jones said.

MORTGAGE RATES JUMP TO HIGHEST LEVEL IN ALMOST A YEAR

The average age of a first-time homebuyer has risen in recent years. (David Paul Morris/Bloomberg via Getty Images)

The report noted that there are 220,000 more starter homes for sale compared with 2022, with prices down 4.2% from that period, so there has been improvement in the last few years after the pandemic shock.

Jones said that most of that change is due to new construction – much of which has occurred in the South – while homeowners with relatively low mortgage rates are largely remaining in place due to their reluctance to take on a higher-rate mortgage after moving.

“Builders in Texas, Florida, and the Carolinas drove the South’s recovery by bringing supply to market just as demand moderated,” she said. “Lock-in is still very much in play nationally, with almost 70% of outstanding mortgages at 5% or below. Life-event-driven turnover is happening at the margins, keeping the market cranking, but hasn’t meaningfully unlocked existing inventory more broadly yet.”

HOUSING AFFORDABILITY TO IMPROVE AS HOME PRICE GROWTH COOLS, REALTOR.COM FORECASTS

New home construction has helped ease affordability challenges in some parts of the country. (David Paul Morris/Bloomberg via Getty Images)

Jones said that while the national picture for the starter home market is slowly improving, the outlook across various regions of the country varies widely.

“The South is the clearest bright spot, with starter home prices down 3.5% from peak and 170,000 more sub-$350K listings, driven by aggressive Sun Belt construction. The West has also seen real price correction, down 7.3% from peak, though gains are concentrated in markets like Phoenix and Denver rather than California’s coast,” she said.

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“The Midwest remains the most affordable region but is losing that edge, with prices up 10% since 2022,” Jones noted. “The Northeast is the hardest story: prices up 12.6% since 2022, affordable listings down from 48% of inventory pre-pandemic to under 30% today.”

The Trump administration on Monday announced it will impose a 50% tariff on certain Canadian imports, citing what officials called trade “discrimination” against American businesses.

The duties will target specific Canadian goods and are set to take effect on Aug. 19 under the Tariff Act of 1930.

Officials said Canada’s current tax policies unfairly target U.S. automakers, contributing to a significant decline in American vehicle exports while giving foreign competitors an advantage.

The U.S. will levy a 50% tariff on certain Canadian imports beginning Aug. 19 (Al Drago/Getty Images / Getty Images)

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“I find that it is necessary and appropriate and in the public interest to impose an additional ad valorem duty of 50 percent on certain products of Canada,” the order said.

“The United States, U.S. businesses and workers, and U.S. commerce suffer from Canada’s discriminatory, unequal, and unreasonable tariff scheme.”

This is a developing story. Please check back for updates

Shares of Micron Technology climbed Monday morning, rising 3.42%, or $29.00, to $877.95, as the memory chipmaker’s stock rebounded following a turbulent stretch that had seen its shares fall sharply amid a broader selloff across the semiconductor sector.

The gain comes after a difficult few weeks for Micron, whose stock had declined roughly 22% to 30% from its post-earnings high, which had climbed above $1,200 following the company’s blockbuster fiscal third-quarter results in late June. Despite the recent pullback, Monday’s rebound suggests investor appetite for memory chip stocks may be stabilizing following weeks of intense volatility across the broader AI hardware sector.

Record earnings driven by AI memory demand

Micron’s recent stock swings have unfolded against a backdrop of extraordinary underlying business performance. The company reported record revenue of $41.4 billion for its fiscal 2026 third quarter, which ended May 28, marking a 346% increase compared with the same period a year earlier. That surge was fueled primarily by artificial intelligence-related memory demand across all four of the company’s business segments, with cloud memory contributing the largest share of revenue growth on the strength of booming sales of high-bandwidth memory, or HBM, chips.

The company’s profitability improved just as dramatically. Micron’s earnings rose 1,368% year over year to $24.67 per share during the quarter, while non-GAAP gross margin climbed to 85%, up sharply from 39% in the prior-year period. Micron’s own guidance suggests further revenue growth and continued margin expansion in the periods ahead, reflecting management’s confidence in sustained demand for the company’s memory products.

A supply crunch expected to persist for years

Much of Micron’s recent strength has stemmed from a global memory chip shortage that has allowed the company considerable pricing power across its product lines. The company has indicated that tight supply conditions for memory chips are expected to persist well beyond 2027, a forecast that has reinforced bullish sentiment among some investors even as the stock has experienced significant short-term volatility.

That supply-demand imbalance has been driven in large part by soaring AI infrastructure investment, with high-bandwidth memory chips serving as a critical component in the data center hardware stack powering artificial intelligence systems. Nvidia CEO Jensen Huang has previously identified memory as the single biggest bottleneck in AI infrastructure development, a characterization that has helped fuel investor interest in Micron and its primary memory chip rival, SK Hynix.

Strategic partnerships add to the bullish case

Beyond the underlying supply dynamics, Micron has also moved to deepen its position within the broader AI ecosystem through several notable partnerships. The company entered into a multiyear artificial intelligence partnership under which it will serve as the first-choice supplier of memory and storage for the advanced AI systems developed by Anthropic. As part of that arrangement, Micron will co-develop high-bandwidth memory and storage technologies alongside Anthropic while also making internal use of Claude, Anthropic’s AI model, and taking a strategic investment stake in Anthropic’s most recent financing round.

Micron has also expanded its footprint in the automotive sector, signing long-term supply agreements with Qualcomm, Visteon and other automotive ecosystem suppliers, further diversifying the company’s exposure across different segments of the broader AI and technology supply chain. Altogether, Micron has secured 16 long-term agreements collectively worth approximately $22 billion in future revenue, according to recent analyst estimates.

Wall Street remains largely bullish despite the volatility

Despite the sharp swings in Micron’s share price over recent weeks, Wall Street analysts have largely maintained a positive long-term outlook on the stock. Analysts tracking the company have continued to issue strong buy ratings, with some price targets implying substantial additional upside from current levels, even as the stock’s average analyst target has reportedly implied more than 80% potential upside following its recent decline.

Not all market participants share that optimism, however. Billionaire investor Michael Burry has disclosed a short position against Micron stock, reflecting a degree of skepticism among some market participants regarding how sustainable the current memory chip boom and Micron’s elevated valuation ultimately are. Additionally, the recent Nasdaq listing of SK Hynix, Micron’s chief HBM competitor, has drawn increased American investor attention to the broader memory chip competitive landscape, potentially creating capital rotation pressure between the two companies’ shares.

Broader chip sector context

Micron’s recent volatility has occurred alongside a broader selloff across memory and semiconductor stocks more generally, with the sector as a whole briefly falling into bear market territory amid concerns about oversupply as additional memory manufacturing capacity comes online and questions persist about the durability of near-term AI demand. Some analysts have cautioned that near-term volatility in the sector could continue even as the longer-term growth trajectory for AI-driven memory demand remains intact.

With Micron’s stock rebounding meaningfully Monday, investors appear to be reassessing the company’s near-term prospects following weeks of turbulence, even as the underlying business fundamentals, record revenue growth, expanding margins, and a persistent supply-demand imbalance in the memory chip market, continue to support a broadly optimistic long-term narrative around the company. Whether Monday’s gains mark a durable turning point or simply a temporary bounce within a still-volatile sector is likely to become clearer as Micron and its competitors continue reporting results and providing updated guidance in the weeks ahead.

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In her teens, Michelle Huynh, the eldest daughter of migrant parents in Australia, made a promise to her family that she would become a millionaire by the time she turned 30.

The 26-year-old describes it as “a somewhat silly promise” inspired by the sacrifices her non-English-speaking parents made to raise the family.

But she is trying to make that dream come true by investing her savings in the stock market.

“Times are so different and investing has become a necessity,” says Huynh, who works in sales for a tech firm. “It feels like our purchasing power is shrinking. This is the only way to combat that.”

This year, the technology-driven surge in stock markets has edged her closer to that goal.

With more than a third of her investments in tech stocks, by the middle of July that part of her savings had jumped this year by 50% – a rise of A$31,000 (£16,100; $21,666).

But those gains have now eased to about A$22,000 as the sector is going through what she calls a “wild moment”.

Huynh says she’s prepared for the volatility, viewing those investments as a long-term bet.

The rise in tech stocks, led by firms riding the artificial intelligence (AI) boom, has attracted large numbers of ordinary investors, many of them in their 20s and early 30s, even as some analysts warn that the fervour around AI may be overblown.

Retail investors have been caught up in the excitement, which has been fuelled by social media and marketing efforts to draw non-professionals, says Glenn Tan from advisory firm Providend.

Shares of GameStop slipped modestly Monday morning, trading at $21.74, down 0.71%, or 16 cents, as investors continue to weigh the company’s contested bid to acquire eBay and the broader strategic direction chief executive Ryan Cohen has charted for the video game retailer.

The dip comes amid ongoing uncertainty surrounding GameStop’s unsolicited $125-per-share proposal to acquire the outstanding shares of eBay that it does not already own, an offer eBay’s board has already formally rejected. Despite that rejection, Cohen has signaled he has no intention of abandoning the pursuit.

Cohen digs in after eBay’s rejection

Responding directly to eBay’s decision to reject the takeover proposal, Cohen made clear GameStop intends to keep pressing forward. “We’re Coming for eBay,” Cohen said in comments reported by TipRanks, reflecting his refusal to back down despite the board-level pushback from eBay’s leadership.

According to Yahoo Finance, Cohen has indicated plans to take his case directly to eBay shareholders rather than relying solely on board-level negotiations, a strategy that would attempt to build shareholder pressure on eBay’s leadership to reconsider the offer. That approach leaves the ultimate outcome of the proposed acquisition uncertain and has contributed to a degree of investor caution surrounding GameStop’s stock in recent weeks.

Shareholders clear the way for a potential deal

GameStop took a significant procedural step toward enabling the proposed acquisition earlier this month. At the company’s 2026 Annual Meeting of Stockholders, held July 7, shareholders approved all proposals presented to them, including an amendment to GameStop’s certificate of incorporation increasing the number of authorized shares of Class A common stock to 2.5 billion. The amendment passed with 68.7% of votes cast in favor, providing GameStop with substantially greater flexibility to issue common stock in connection with strategic transactions, including its proposed eBay acquisition.

Beyond the share authorization increase, stockholders also ratified the appointment of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending January 30, 2027, with more than 333 million votes cast in favor. Executive compensation was also approved on a non-binding, advisory basis, while a previously disclosed proposal regarding a chief executive performance award was withdrawn prior to the meeting and not presented for a shareholder vote.

Details of the proposed eBay transaction

GameStop first delivered its non-binding proposal to eBay’s board on May 3, 2026, offering to acquire all outstanding eBay common stock that GameStop does not already own at a price of $125 per share, payable through a combination of cash and GameStop common stock. As of its most recent disclosures, GameStop directly owns more than 4.3 million shares of eBay common stock and has additionally entered into a series of American-style put/call option transactions with an unaffiliated financial institution, providing economic exposure to nearly 39.1 million additional eBay shares. Those options are set to expire in February 2028, and GameStop does not currently hold voting or dispositive power over the underlying shares unless the option pairs are physically settled for common stock.

An important regulatory condition tied to that arrangement was satisfied on June 3, 2026, when the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, commonly known as the HSR Act, was cleared. That development gave both GameStop and its counterparty financial institution the option, though not the obligation, to elect physical settlement of the underlying eBay shares going forward.

A broader strategic pivot for GameStop

The eBay pursuit represents part of a broader transformation underway at GameStop under Cohen’s leadership, as the company continues shifting away from its traditional identity as a struggling brick-and-mortar video game retailer. GameStop recently provided its fiscal year 2026 outlook, projecting adjusted EBITDA in excess of $600 million for the fiscal year ending January 30, 2027, a substantial increase from the $345.4 million in adjusted EBITDA the company reported for fiscal year 2025.

GameStop has also continued to diversify its business through new partnerships, including a recently announced collaboration with Uber Eats to launch on-demand gaming delivery services, an initiative aimed at expanding the company’s relevance among gamers seeking faster access to physical game and hardware purchases.

A stock shaped by more than fundamentals

GameStop’s stock has long been influenced by factors extending well beyond traditional retail fundamentals, given the company’s history as one of the most prominent “meme stocks” during the retail trading surge of 2021. In more recent periods, the stock has continued to draw attention for reasons tied to Cohen’s broader capital allocation strategy, including the company’s substantial cash reserves and, at times, exposure to cryptocurrency holdings as part of its treasury management approach.

With eBay’s board having already rejected GameStop’s initial offer and Cohen signaling intent to appeal directly to shareholders, the path forward for the proposed acquisition remains uncertain. Investors are likely to continue closely watching for further developments regarding both the eBay bid and GameStop’s broader operational transformation, including additional details on strategic partnerships and updates tied to the company’s fiscal 2026 financial targets, as the situation continues to unfold in the weeks ahead.