Business

Stelrad talks of strong performance despite further market decline

Published

36 minutes ago

7 August 2026

NewsAdmin

The radiator firm said it had made progress on medium-term goals in half year results published to investors on the London Stock Exchange

Stelrad Radiators’ Mexborough plant.(Image: Shaun Flannery Photography Ltd)

Radiator maker Stelrad has boosted profits despite a gloomy assessment of its market.

In interim results published to the London Stock Exchange, the Newcastle company – which has its main factory in South Yorkshire – saw revenue of £124m in the six months to the end of June, compared with £136.5m in the same period last year. But adjusted operating profits were up 4.9% to £16.7m, compared with £15.9m.

Bosses said that was thanks to initiatives to boost profitability and offset market weakness. Across the half year, Stelrad saw further volume declines of 14.6%, which it said reflected subdued demand across some of its core markets including the UK & Ireland. That market was down 6.6% thanks to weakness in new build housing, repairs and improvements.

Its volumes in Europe were down 14.4%, and down 61.8% in its smaller Turkish and international segment where there had been a decision to reduce sales. Investors were told of notable decline in Germany, following a decision to leave a loss-making contract, and in France where there had been decline in higher-volume lower-margin parts of the market.

At the end of June, the group had cash of £17.6m, compared with £19m at the end of December, and undrawn facilities of £25.3m. Net debt before lease liabilities was £57.5m, up from £51.1m at the end of December but down on £64.8m at the same point last year. Directors expected a reduction in net debt by the end of the financial year due to seasonality in working capital investment.

Despite the downbeat talk of market weakness, Stelrad said it was well positioned to capitalise on a recovery in demand – though there was a question mark over when that may be. It said progress had been made towards medium-term targets despite the challenging conditions. So far, trading in the second half of the year has been in line with expectations.

Trevor Harvey, chief executive officer, said: “During the period, we delivered a strong financial performance against a backdrop of ongoing economic uncertainty suppressing volumes in the group’s key markets. Crucially, despite this environment, we have maintained our market leadership position and continued to optimise our cost base.

“The board remains confident in its strategic pillars and in driving continued shareholder value. Our operational excellence initiatives, underpinned by our competitive advantages and market positioning, mean that Stelrad remains well-placed to target market share gains across the geographies in which we operate.”

In October, Stelrad will pay an interim dividend of 3.19p per share, an increase of 5%. It said the increase reflected a strong group balance sheet and confidence in future growth prospects and increasing cash generation.

Business

Admiral Group plc 2026 Q2 – Results – Earnings Call Presentation (OTCMKTS:AMIGY) 2026-08-07

Published

3 minutes ago

7 August 2026

NewsAdmin

OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

Business

2 Preferred Stocks That Put You First In Line

Published

10 minutes ago

7 August 2026

NewsAdmin

2 Preferred Stocks That Put You First In Line

Rida Morwa is a former investment and commercial Banker, with over 35 years of experience. He has been advising individual and institutional clients on high-yield investment strategies since 1991. Rida Morwa leads the Investing Group High Dividend Opportunities where he teams up with some of Seeking Alpha’s top income investing analysts. The service focuses on sustainable income through a variety of high yield investments with a targeted safe +9% yield. Features include: model portfolio with buy/sell alerts, preferred and baby bond portfolios for more conservative investors, vibrant and active chat with access to the service’s leaders, dividend and portfolio trackers, and regular market updates. The service philosophy focuses on community, education, and the belief that nobody should invest alone. Learn More.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SYF PREFERREDS, SCHW PREFERREDS 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.

Beyond Saving, Philip Mause, and Hidden Opportunities, all are supporting contributors for High Dividend Opportunities. Any recommendation posted in this article is not indefinite. We closely monitor all of our positions. We issue Buy and Sell alerts on our recommendations, which are exclusive to our members.

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.

Business

Companies plan to hide airlines’ restrictive ‘basic’ business fares

Published

16 minutes ago

7 August 2026

NewsAdmin

Companies plan to hide airlines' restrictive 'basic' business fares

United Airlines Polaris lounge in Chicago

United Airlines

CHICAGO — No advanced seat selection, lounge access or flight changes included with a C-suite executive’s business-class ticket? Absolutely not, some companies say.

Delta Air Lines joined United Airlines last month in launching stripped-down business class fares for certain flights, taking the same approach they used to carve up coach class to their more expensive cabins as carriers get customers to pay more for perks in the sky.

That’s a new headache for companies’ business travel mangers.

AerSale — which leases aircraft and engines and offers maintenance and other services — likely won’t block basic premium options altogether for its hundreds of traveling employees. But those tickets would be impractical for many of its workers, said Jackie Carlon, the Doral, Florida-based company’s senior vice president of marketing and communications.

“The real value is flexibility,” Carlon said. “Paying a bit more, it’s not necessarily a cost to us — it’s insurance.”

What’s included with basic business — and what’s not

With the new fares, the cheapest option for long-haul international flights won’t come with things like access to an airport lounge or the ability to pick a seat for free in advance. Perhaps most important for business travel, no changes are allowed without paying a fee on top of a difference in fare.

Delta said change fees for basic business class could range from none at all up to $400, depending on the route, and from $99 to as much as $500 for cancellations.

Because work trips can change on a dime, a restrictive ticket in business class can cost a company even more if travelers have to buy a whole new flight. Only a small proportion of a corporation’s business travelers usually fly in top-tier cabins, but the higher fares could further drive up travel costs.

The difference in fares, meanwhile, could be several hundred dollars to close to $1,000, if not more.

On United, for example, the least expensive fare in the airlines’ lie-flat pod Polaris cabin doesn’t come with access to the Polaris business-class airport lounge, which features a bar, sit-down dining, a rest area, showers and other amenities. The traveler also can’t pick a seat in advance without paying a fee and no changes are allowed. Travelers can cancel the flight with a fee. United doesn’t disclose its fees for the new fares, and a spokeswoman said the amounts vary.

For a flight going from Newark, New Jersey, to London Heathrow on Oct. 1 and returning Oct. 8, the “base” Polaris ticket was going for $4,490, while the standard fare was $4,890, and it was $5,390 for a flexible, refundable ticket.

Airlines say it gives customers more of a choice.

“We support our corporate travel partners by giving them full control over which fare products are available to their business travelers based on their own policies and business objectives,” Delta said in a statement. “We continue to see strong demand for premium travel.”

Corporate considerations

Dane Molter, senior vice president at Navan Group Travel Marketplace, which reported $9.1 billion in gross booking volume in the 12 months ended Jan. 31, said clients that use the platform are seeking more detailed policy controls that could determine which fare an employee books for a trip.

“Travel managers are asking a sensible question: Does the lower upfront fare still represent good value if it lacks flexibility, seat selection, lounge access or other benefits their travelers expect?” he said in a statement.

The Late Stage Management Investors Whose SpaceX Stock Vanished Before They Could Cash In

Published

22 minutes ago

7 August 2026

NewsAdmin

The Late Stage Management Investors Whose SpaceX Stock Vanished Before They Could Cash In

Ram Rupireddy could hardly believe his luck in 2020 when his friend told him about a New Jersey firm pitching investment opportunities in SpaceX and other buzzy privately held companies.

Rupireddy lives in Ashburn, Va., with his wife and two kids and was earning a reliable income as a data engineer at a healthcare company. But he had friends in the Bay Area who had invested early in hot startups, and he wanted in. This was his chance.

The investment firm, Late Stage Management, wasn’t selling actual shares, but stakes in vehicles that it said held them.

Known as special-purpose vehicles, the funds hold shares in private companies either directly or indirectly, by investing themselves in other funds with stakes. The SPVs provide a workaround to the limit on the number of shareholders private companies can have without offering more detailed financials. They operate under few regulations and are supposed to be only for accredited investors, or those whose net worth or income reaches a certain threshold.

Business

Plans for new riverside neighbourhood in Swansea

Published

28 minutes ago

7 August 2026

NewsAdmin

Plans from Urban Splash will go on public display next week

08:11, 07 Aug 2026Updated 08:12, 07 Aug 2026

Artist impression of the scheme in St Thomas, Swansea.(Image: Media Wales)

Proposals for a new riverside neighbourhood in Swansea that would deliver 124 new homes alongside new public spaces and improved access to the River Tawe will soon go on public display.

The plans, for a seven-acre site in St Thomas, Swansea, on the eastern bank of the river just north of the river bridges, are being brought forward by Swansea Council’s regeneration partner Urban Splash, working with housing partnership specialist Lovell, and Wales’ largest provider of housing, care and support Codi Group.

Residents are invited to help shape the proposals at two public consultation events next week:

Wednesday – Y Storfa on Oxford Street from 12.30pm-6.30pm; and
Thursday – St Thomas Church on Lewis Street from 10.30am-4.30pm.

The proposals include a mix of houses and apartments, with the majority of the affordable homes intended to be managed by Codi Group.

They also include improved walking and cycling links along with flexible retail or leisure spaces on the ground floor of a gateway apartment building.

Connected open spaces that better link the community with the river are also proposed as part of a plan tocreate a green and sustainable riverside neighbourhood.

A website where people can see the plans and give online feedback will be made available in the coming weeks.

Councillor Rob Stewart, Swansea Council leader, said: “Providing more affordable homes is one of our biggest priorities, and these proposals show how we can do that while transforming a long-vacant riverside site into a vibrant new neighbourhood.

“This is about creating homes local people can afford in a place that reconnects St Thomas with the River Tawe, and I encourage residents to come along to the consultation events or head online to help shape the plans.”

David Warburton, of Urban Splash, said: “We’re looking forward to sharing these proposals with the community. They set out a vision for a sustainable new neighbourhood that delivers much-needed homes while creating greener public spaces, opening up the riverfront and providing new opportunities for people to live, work and spend time by the River Tawe.”

Anthony Vagges, regional managing director of Lovell, added: “We’re proud to be working with Urban Splash and Swansea Council to bring forward a scheme that puts people and place first.

“Creating high-quality homes, including a 50% affordable housing provision, with open green spaces and improved waterfront access, this development will create new opportunities for local families and businesses while respecting the character of St Thomas.”

The proposals come just weeks after a public consultation was held for the Civic Centre.

Urban Splash is moving forward with this wider City Waterfront concept which includes cafes and bars, beach‑sports retail, new apartments together with new cultural spaces, an aquarium and flexible events space.

The site, formerly occupied by railway sidings, is one of seven key regeneration sites being brought forward through the long-term partnership between Swansea Council and Urban Splash as part of the broader City on the Beach vision.

Business

The million-dollar home is becoming surprisingly normal

Published

46 minutes ago

7 August 2026

NewsAdmin

Mortgage rates rise to 6.38%: Freddie Mac

A $1 million home no longer guarantees luxury in much of the United States, as years of rising prices have pushed millions of properties into seven-figure territory.

The number of owner-occupied U.S. homes worth at least $1 million climbed from about 1.5 million in 2005 to 6.9 million in 2024, according to an analysis from the National Association of Realtors (NAR). Those homes now make up 8% of the market, up from 2% two decades ago.

The shift is most dramatic in high-cost markets. About 40% of owner-occupied homes in Hawaii are valued at $1 million or more, while roughly one-third of homes in California and Washington, D.C., have reached that level, the report noted.

By contrast, million-dollar homes account for about 1% of properties in Mississippi, North Dakota and West Virginia.

CASH-STRAPPED HOAS RAMP UP FORECLOSURES AGAINST DELINQUENT HOMEOWNERS: REPORT

Billy Rose, founder and vice chairman of real estate brokerage The Agency, told FOX Business that the $1 million mark stopped representing true luxury in Los Angeles years ago.

“In L.A., it seems like there’s so much wealth here and there’s so much elevated housing that the million-dollar threshold now is truly entry,” Rose said.

Some first-time buyers in the region begin their searches at around $2.5 million or $3 million, he added.

Buyers are also confronting stubborn prices and limited inventory in many markets. Rose said sellers remain anchored to values reached when borrowing costs were lower, while buyers are waiting for better deals.

“That has put kind of a staring contest between buyers and sellers,” he said.

The $1 million threshold also appears to shape buyer behavior.

MIAMI’S TALLEST NEW TOWER NEARS SELLOUT AS PROJECT SPARKS MASSIVE WEALTH MIGRATION FOR TOP EXECUTIVES

Since 2015, about 2.4 times more homes have sold just below $1 million than just above it, according to NAR. Buyers may set searches below the round number, face different mortgage requirements or encounter taxes that begin at $1 million.

New York’s mansion tax is one example. The tax has applied to purchases of $1 million or more since 1989, even though that amount would equal about $2.7 million today after adjusting for inflation, the report noted.

The 1% tax adds $10,000 to the purchase of a $1 million home.

“I think you need to be looking at whether those thresholds need to increase and be more keeping with the times,” Rose said.

The changing definition of luxury is also not limited to the U.S., according to a recent report from The Agency.

INSIDE FLORIDA’S $85M JAMES BOND-INSPIRED MANSION BUILT TO ‘MAKE A BILLIONAIRE’S JAW DROP’

In markets near Toronto, 1 million Canadian dollars, or about $731,000, no longer buys true luxury, Steve Bailey of The Agency noted. Bailey said luxury properties generally begin closer to 1.7 million to 3 million Canadian dollars, or about $1.2 million to $2.2 million.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The U.S. housing market is moving in two directions, with a recent Zillow report finding that luxury demand is surging while starter-home sales are softening as inventory in that segment grows.

Rose said the trend reflects a broader “K-shaped economy,” in which wealthy buyers have greater financial flexibility while lower-income buyers face more pressure.

“It’s creating a larger divide between, you know, the haves and the have-nots,” he said.

FOX Business’ Eric Revell contributed to this report.

Business

Did King Charles Privately Wish Meghan Markle Happy Birthday? Royal Experts Weigh In Amid Rift This Year

Published

53 minutes ago

7 August 2026

NewsAdmin

LONDON — Meghan Markle turned 45 on Aug. 4 without any public birthday message from Buckingham Palace or Kensington Palace, continuing a pattern that has held since the Duchess of Sussex and Prince Harry stepped back from royal duties in 2020. But royal commentators say that absence of a public post does not necessarily mean the King stayed silent behind the scenes.

Meghan marked the occasion with her own social media posts, sharing photos and videos on Instagram, including images of herself jumping into a swimming pool while holding balloons. Her brand, As Ever, also posted a public tribute, writing simply, “Happy birthday to our founder, @meghan.” Neither King Charles III, Queen Camilla, Prince William nor Catherine, Princess of Wales, issued any public greeting, extending years of royal silence around Meghan’s birthday since the Sussexes’ departure from official royal life.

A Protocol, Not a Personal Snub, Experts Say

Royal commentator Tom Sykes told Page Six the absence of a public message was entirely expected, explaining that there is absolutely no way anything would be posted on the royal family’s official social media feeds for Meghan given her status as a private citizen rather than a working royal. Royal expert Kinsey Schofield offered a similar assessment, noting that the palace has not publicly marked Meghan’s birthday since she and Harry resigned from their senior royal roles, and describing the pattern as a matter of institutional protocol rather than a personal slight.

The royal family has generally reserved official public birthday posts for working members of the monarchy or for milestone birthdays among non-working royals, a practice that has applied consistently to Meghan’s birthdays since 2020, following earlier years in which the family’s official accounts did publicly acknowledge her.

Speculation Over a Private Gesture

While no public message was issued, both Sykes and Schofield suggested Charles may have reached out to Meghan privately, away from the public eye. Sykes described the King as a scrupulously polite man, saying he would expect Charles to send birthday wishes to his daughter-in-law privately even without any public gesture. Schofield offered a similar view, suggesting Charles could have arranged for palace staff to deliver a card or a modest gift, and describing the King as someone who has generally avoided going out of his way to be overtly unkind toward Meghan, despite years of strained family relations.

It’s worth noting that neither Buckingham Palace nor representatives for the Sussexes have confirmed whether any private communication actually took place. Any claim that Charles reached out to Meghan around her birthday remains informed speculation from royal commentators rather than a confirmed fact, and readers should treat it accordingly.

A Birthday Following a Notable Family Visit

This year’s birthday arrived under somewhat different circumstances than in recent years. Meghan’s birthday came roughly a month after a private audience between Harry and King Charles at the monarch’s Highgrove residence, a meeting that had prompted speculation among royal watchers about whether relations between the Sussexes and the wider royal family might be beginning to thaw after nearly four years of public estrangement. Reports also indicated that Harry and Meghan’s children, Prince Archie and Princess Lilibet, visited Charles and Queen Camilla at Highgrove in July, marking a notable development in the family’s limited recent contact.

Despite that apparent softening, commentators have cautioned against reading too much into the visit as evidence of a broader reconciliation. Some reports characterizing the Highgrove meeting have suggested it was not an especially warm encounter, and the continued absence of any public birthday acknowledgment this year suggests that formal royal protocol toward the Sussexes remains largely unchanged, regardless of any private family contact that may have occurred.

Little Expectation of Outreach From William and Kate

While commentators believe Charles may have privately acknowledged Meghan’s birthday, they expressed considerably more skepticism about any message coming from Prince William or Catherine. Sykes said the Sussexes were unlikely to expect birthday wishes from the Prince and Princess of Wales at all. Schofield went further, arguing that there is simply no relationship remaining between Meghan and William, adding that the future king and his wife continue to believe that trust within the family was seriously damaged during the years following Harry and Meghan’s departure from royal duties.

A Pattern Dating Back Years

The lack of a public birthday message from the royal family is not new. Meghan’s 42nd birthday similarly passed without any public tribute from Buckingham Palace or Kensington Palace, a shift from earlier years, including her 41st birthday, when the official Kensington Royal account shared a public birthday message and photo. A palace representative told reporters around that time that the family generally does not mark birthdays for every royal, particularly non-working members, reinforcing the protocol-based explanation commentators have continued to offer in the years since.

What Remains Unknown

For now, there is no public evidence that Meghan’s 45th birthday prompted any thaw between her household and the broader royal family. While royal commentators believe Charles may have quietly acknowledged the occasion in private, no official confirmation, whether in the form of a message, card or gift, has been provided by Buckingham Palace or by representatives for the Sussexes. The question of whether any private birthday gesture occurred is likely to remain a matter of informed speculation among royal watchers rather than an established fact, absent any future confirmation from either side.

Business

Logistics firm FSEW launches first sector electric charging hub in Wales

Published

60 minutes ago

7 August 2026

NewsAdmin

The new hub is see a further 50 new drivers being recruited.

Manging director of FSEW Geoff Tomlinson at the firm’s new e-freight hub in Cardiff.

Leading logistics venture FSEW has launched Wales’ first dedicated electric charging hub for heavy good vehicles.

In a major investment the UK market leader in global logistics decarbonisation has unveiled its new e-freight hub on a 2.5 acre site at the Old Ely Transport Yard at the Lamby Way Industrial Estate in Cardiff.

The development features high-powered charging infrastructure capable of supporting the heaviest electric trucks on the market. The site will also lead to a recruitment drive for up to 50 new drivers as FSEW aims to expand its electric fleet to 70 vehicles by 2027.

The hub has eight initial charging points, financed, designed and installed by electric vehicle fleet and battery storage specialist Zenobe. The 480kW chargers can power vehicles up with 190 miles of range in just one hour. While primarily powering FSEW’s own fleet the hub will also be available for third party charging by agreed external van and arctic truck operators with compatible vehicles.

The hub development has been supported with a grant from the UK Government’s depot charging scheme.

FSEW was launched in July 2002 after managing director Geoff Tomlinson identified a gap in the market for a customer orientated global freight forwarding company. The firm, which in 2005 was named the fastest-growing indigenous firm in the Wales Fast Growth 50 index, now employs 90 with a fleet of 40 plus trucks.

In December 2024 it officially became diesel free. As the UK’s only freight FSEW was the first company to launch the UK’s first commercial use electric HGVs in partnership with Tesco in 2021.

Mr Tomlinson said: “The e-freight hub is a personal and professional milestone. We are proving that the electrification of heavy freight is not just possible, but commercially viable. By providing accessible, high-power charging, we are removing one of the biggest barriers facing operators today, ‘range and charging anxiety.’

“This hub isn’t just about trucks, it’s about better air quality for our communities and a complete shift in how the industry thinks about energy. Up until this point everything we have done has been self-funded, but we have now secured a grant from the UK Government’s depot charging scheme which is accelerating our plans.”

The project follows the launch of FSEW’s GreenFlow service, an industry first framework that allows clients to achieve international net-zero shipping across road, rail, air, and sea, supporting their path to net zero freight.

Maesteg-based firm Siderise has already used GreenFlow to export containers from Wales to Dubai with a zero-carbon footprint. FSEW’s new Cardiff hub will serve as the physical heart of the GreenFlow service.

Business

AppLovin Stock Drops After Revenue Misses Estimates

Published

1 hour ago

7 August 2026

NewsAdmin

AppLovin Stock Drops After Revenue Misses Estimates

AppLovin’s APP -19.66%decrease; down pointing triangle profit and revenue growth continued in the latest quarter but the advertising company said the results weren’t quite up to par with its standards.

The company, which provides software and AI solutions aimed at improving marketing and monetization of mobile apps, reported second-quarter revenue of $1.92 billion, up 53% year over year but toward the bottom end of the guidance range it had provided in May.