Investment management company Vulcan Value Partners recently released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. Vulcan Value Partners prioritizes long-term returns and lower risk over short-term performance. In the quarter, the Large Cap Composite (Net) returned 9.5%, the Small Cap Composite (Net) returned 13.3%, the Focus Composite (Net) returned 10.4%, the Focus Plus Composite (Net) returned 10.5%, and the All-Cap Composite (Net) returned 9.0%. The firm reported strong compounding across its strategies in Q2 2026. Management highlighted that their exceptional holdings remain deeply undervalued relative to "what is working" in the market, viewing this as an excellent opportunity for patient investors. In addition, please check the Firm's top five holdings to know its best picks in 2026.
Vulcan Value Partners' Q2 2026 investor letter highlighted ServiceNow, Inc. (NYSE:NOW), noting its inclusion in the firm's All-Cap strategy this quarter. ServiceNow, Inc. (NYSE:NOW) is a cloud-based software company that provides a platform for automating and managing digital workflows. On July 29, 2026, ServiceNow, Inc. (NYSE:NOW) closed at $115.76 per share, reflecting a market capitalization of $119.7 billion. ServiceNow, Inc. (NYSE:NOW) posted a one-month return of 4.56%, while its shares lost 44.33% over the past 52 weeks.
Vulcan Value Partners stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its Q2 2026 investor update:
"We purchased three new positions during the quarter: Veeva Systems Inc., Equifax Inc., and ServiceNow, Inc. (NYSE:NOW). We believe that ServiceNow is also one of the best businesses in the world. ServiceNow automates workflows in large and complex enterprises. Their platform sits on top of all of an enterprise's data and systems of record. This very unique and enviable position allows ServiceNow to orchestrate and automate work across departments, enterprise wide. To use an **** ogy, if a large enterprise is an airport, and its multiple software applications are planes, ServiceNow is the control tower coordinating all of these planes/applications.
The company has grown from its roots in IT and now has very large businesses in sales and service, HR, finance, supply chain, operations, and security, as well as in industry specific verticals like Financial Services, Healthcare, and Government. ServiceNow grew revenue 21%, adjusted EBIT 28%, and free cash flow per share 33% in 2025. This growth at scale puts ServiceNow in elite company. Despite the strong performance, the stock is down approximately 40% year to date and 60% since the beginning of 2025. The company has been on our MVP list for over 5 years and has compounded its value at an incredible rate over that period. It has never been materially discounted until recently…." (Click here to read the full text)

#servicenow #composite #company #returned

The New England Patriots wrapped up Day 6 of training camp practice on Friday with another impressive showing by the offense.
Patriots quarterback Drake Maye and company won the day through the air, even managing to finally push the ball downfield at points. It was an impressive showing when throwing into the teeth of one of the best secondary units in the NFL.
The ongoing training camp battles between star receiver A.J. Brown and cornerback Christian Gonzalez also continued to heat up on the field. In only two practices in pads, it's clear that the Patriots' offense has taken another step ahead of the 2026 season. Only time will tell how far that takes them.
Here were the eight standouts from Day 6:
It's crazy how quickly things can change. It was only a few days ago that people were worrying themselves over the shaky connection between A.J. Brown and Drake Maye.

#training

England men's team managing director Rob Key has not ruled out the possibility of Ben Stokes returning to international cricket before next year's Ashes, saying "anything is possible with Ben."

Stokes stepped down as England's Test captain and retired from international cricket after England lost the Test series to New Zealand 2-1 in June. That defeat came after a 4-1 Ashes series loss to Australia during the previous winter.

The 35-year-old had also been ruled out of the second Test against New Zealand after breaching a midnight curfew while celebrating England's victory in the opening Test.

There was speculation after the incident that Stokes was unhappy with the way he had been treated by England's management. On Thursday, England brought back Joe Root as Test captain and appointed Stephen Fleming as Brendon McCullum's replacement as Test head coach.

Asked if Stokes could return in time for next year's Ashes, Key told Sky Sports News: "It would be a brilliant story if he does."

Speaking after Fleming's appointment, Key said Stokes had given no indication that he wanted to return but admitted he would not be surprised if that changed.

"It would be a brilliant story if he does," Key told Sky Sports News. "He hasn't [indicated a change of heart], but I wouldn't be surprised. Anything is possible with Ben."

When asked if Stokes had damaged his relationship with England by announcing his retirement during the fourth day of the Trent Bridge Test, Key said: "No, not at all. Not as far as I'm concerned."

Since retiring, Stokes has focused on playing for Durham. He scored a century on his return last week in a One-Day Cup match, which was played on the opening day of The Hundred.

As long as Stokes continues playing domestic cricket, discussions about a possible England comeback before the 2027 Ashes are expected to continue.

#test #england #return #anything

Olympic gold medalist Mollie O'Callaghan of Australia will miss the Pan Pacific Championships, the year's biggest international swim meet, due to injury.
O'Callaghan has been managing a back injury, according to Swimming Australia.
This past week, O'Callaghan won four golds and one silver at the Commonwealth Games in Glasgow, Scotland, including gold in the 200m freestyle (which she won at the Paris Olympics and the 2025 World Championships).
"I always knew my program was going to be different, and I would reassess at the end of the Games, and my injury is exactly where I thought it would be," O'Callaghan said in a press release. "And the time is right for me to go home. Good luck to all my teammates (at Pan Pacs) in California."
Australian coach Rohan Taylor added, "She made the decision to return home rather than add another campaign with significant travel. As I said, our lens is on LA, and less is more right now for Mollie."

#o 'callaghan #injury #games

SummaryView Transcript
The logistics industry has a dirty little secret: trailers sit idle for 30-40% of their lifespan, costing carriers and shippers millions. Chris Hines, CEO of REPOWR, reveals how their new Trailer Optimization Platform (TOP) is transforming this inefficiency into opportunity. Discover how advanced data feeds and an execution layer can automate repositioning, boost utilization, and reduce operational costs. Learn why optimizing your "dumb boxes" is the next frontier in supply chain efficiency.
Trailers sit empty 30% to 40% of their working lives — and sometimes more — while every other link in the freight chain has been optimized. That is the core problem Repower is targeting with its new Trailer Optimization Platform, known as TOP, which automates the repositioning of trailer **** ets from surplus markets to deficit ones. CEO Chris Hines, a 44-year industry veteran, joined the Chattanooga-based startup to push it beyond its origins as a trailer marketplace and into an execution layer that carriers have long lacked.
The stakes are significant. A dry van trailer that cost $10,000 at the dawn of drop-and-hook operations now runs $50,000 depending on tariff conditions, Hines noted. Large carriers routinely run trailer-to-truck ratios of 2.5 to 3 to 1, meaning a fleet of 1,000 trucks could be managing 2,500 or more trailers — often tracked across a patchwork of TMS records, spreadsheets, and whiteboards. "Everything else is optimized in our chain," Hines said. "The gates are optimized, the dock's optimized, the truck's optimized, loads, fuel, but the trailers just lag behind."
"Visibility of the **** et is not enough. You need the execution layer and the automation to move the **** et to its next location." — Chris Hines, CEO, Repower

#optimized #chris #carriers #execution

Rob Key, the ECB's managing director of men's cricket, believes it was "too soon" to install Harry Brook as England Test captain after overlooking the Yorkshireman in favour of Joe Root.
Root's return as full-time skipper was confirmed on Thursday alongside the appointment of Stephen Fleming as England's new head coach following the retirement of Ben Stokes and departure of Brendon McCullum.
Brook, who leads England in white-ball cricket, was elevated to the vice-captaincy ahead of last year's Ashes and has since served as Stokes' deputy.
He was not promoted, though, when Stokes missed the second Test against New Zealand earlier in the summer, and has again missed out on the role despite expressing an interest.
Key explained that he and Fleming had discussed the captaincy at length before the new coach's appointment, with the pair agreeing that Root – who has already led England in a record 65 Tests – was the right man for the job at this moment.

#brook #test #missed

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On this episode of the Managing Madrid Podcast, Kiyan Sobhani discusses:
The incredible business model of the Real Madrid academy
How the Gonzalo Garcia deal works: the rights, future scenarios, etc
Cesar Palacios

#podcast

By Sam Tabahriti
LONDON, July 29 (Reuters) - Apple said on Wednesday that proposed UK rules governing its App Store would amount to price regulation, arguing that plans to loosen ‌its control over in-app payments could undermine innovation and investment.
In a submission to Britain's ‌Competition and Markets Authority, the iPhone maker said proposed "steering" requirements would go beyond promoting competition and give the regulator a "highly intrusive" role in managing its business.
The CMA's consultation, which closed on Monday, is part of its efforts to boost competition and consumer choice. Its proposed measures would allow app developers to direct users to payment options outside Apple's App Store and Google's Play Store and require any fees charged for such ‌steering to be fair and ⁠reasonable.
A CMA spokesperson rejected Apple's characterisation of the proposals as price regulation.

#price #steering #july #reuters

On this Members-only episode of the Managing Madrid Podcast, Lucas Navarrete talks about:
Are the players spoiled?
Should Real Madrid sign a CB?
Rating the transfer window ****** uming Real Madrid sign Diomandé and Rodri
More!

#real #Managing

Distressed investors are, by their nature, optimists. They must be, since they see bargains and opportunities where other investors fear to tread. True to form, recent conversations with a number of distressed players reveal a significant distressed opportunity set in the back half of 2026 in the face of a roaring US equity bull market and a vibrant US economy.
Beginning on a positive note, "the US economy is doing well and isn't likely to turn south in the next six to 12 months," says Jeremy Burton, managing director and portfolio manager at PineBridge Investments. Even the rise of oil prices isn't of great concern for Burton, as he believes that the hit to consumers from rising oil prices in one region of the country will be offset by a healthy oil-and-gas-based economy in another region. As a result, the opportunities are more sector-specific, he believes.
Concurring with Burton's relatively sunny view are Morgan Stanley strategists Vishwas Patka and Joyce Jiang, who, in a recent piece covering their mid-year outlook, said "capex growth and a resilient consumer support a stable macro environment with strong earnings, while attractive yields anchor robust [debt] demand." This bodes well for business growth and equity generally, the pair said.
That health is reflected in the numbers. PitchBook LCD reported on July 1 that the trailing 12-month default rate for the Morningstar LSTA US Leveraged Loan index was only 0.97% by dollar amount and 1.34% by issuer count. The default rate by count, including Liability Management Exercises (LMEs), was 2.77%.
But danger in the leveraged loan index lurks. The index's distress ratio by amount (defined as the share of loans trading below 80 cents on the dollar) rose 34 bps in June, to 6.87%. In fact, the distress ratio has trended higher over the past nine months after plumbing a near-term low of 2.59% in September 2025. The peak for 2026 is 7.23% in March, which was the result of six consecutive monthly increases and marked the highest level since the distress ratio hit 7.36% in December 2022, in the midst of a series of US fed funds rate hikes by the FOMC. Roughly 45% of the debt trading under 80 is in software-related sectors.

#distressed #ratio #leveraged

Night View Capital, an investment management firm, released its second-quarter 2026 investor letter. The letter highlights that AI is a transformative force, comparable to electricity due to its industry-wide impact. A copy of the letter can be downloaded here. Although fears about the software sector have led to significant declines in stock prices, the letter argues that AI integration will ultimately benefit many companies. They recognize that some software firms may experience temporary slowdowns, but most will adapt and succeed by embracing AI, citing advantages like systems of record, high switching costs, entrenched distribution, and rapid AI adoption. The sharp decline in software valuations appears to be an overreaction rather than a sign of industry failure. Nightview believes the so-called "software panic of 2026" is temporary, and resilient businesses will adapt and flourish in the age of AI. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Night View Capital highlighted ServiceNow, Inc. (NYSE:NOW). ServiceNow, Inc. (NYSE:NOW) is a cloud-based software company that provides a platform for automating and managing digital workflows. On July 27, 2026, ServiceNow, Inc. (NYSE:NOW) closed at $107.78 per share, reflecting a market capitalization of $111.15 billion. ServiceNow, Inc. (NYSE:NOW) posted a one-month return of 4.56%, while its shares lost 44.33% over the past 52 weeks.
Night View Capital stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its Q2 2026 investor update:
"ServiceNow, Inc. (NYSE:NOW) runs the digital plumbing of the enterprise: the workflows that move a request from "someone asked" to "someone did it." Automation is not a threat to that kind of business. The more work an organization wants to hand to software agents, the more it needs a trusted place to route, track, and govern what those agents do. We added here as well during the quarter."
ServiceNow, Inc. (NYSE:NOW) ranks 25 on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 108 hedge fund portfolios held ServiceNow, Inc. (NYSE:NOW) at the end of the first quarter, compared to 118 in the previous quarter. In the first quarter of 2026, ServiceNow, Inc.'s (NYSE:NOW) subscription revenues increased 19% year-over-year (in constant currency) to $3.67 billion. While we acknowledge the risk and potential of ServiceNow, Inc. (NYSE:NOW) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ServiceNow, Inc. (NYSE:NOW) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

#servicenow #software #quarter

Nicole Kidman is making the most of a quieter summer before the whirlwind of Venice, Toronto, the Emmys, the VMAs and Fashion Month gets underway.
Alfonso Pacifico Instagram
The actress has been enjoying time in Italy with her daughters, Sunday and Faith, staying at the iconic Splendido hotel in Portofino. Moments from the visit were shared by the hotel's managing director, Alfonso Pacifico, who captioned the photographs:
"Welcoming Nicole Kidman to Splendido was a privilege."
For the occasion, Nicole wore a burnt-orange Dodo Bar Or slip dress that couldn't have been more fitting for a balmy Italian summer evening. The warm hue echoed the glow of a sun-soaked day lingering into the evening, while the delicate lace panels lent the dress a subtle vintage inflection, enhancing its romantic appeal.

#pacifico

It's been almost four weeks since Shohei Ohtani last pitched in a game, still managing the left knee inflammation that still isn't 100 percent. But that's not the only injury the Dodgers superstar is dealing with.
After Tuesday night's game, Ohtani revealed that his right bicep has also been bothering him. That was part of the reason that his planned bullpen session over the weekend in New York was scrapped.
"It started with the knee, and the bicep thing started when he took a swing — I don't know, three or four weeks ago. Then as we got to the break we wanted him to rest his knee, to rest his body and arm. Then as he started ramping back up, in the bullpen … it just wasn't responding. Nor was his knee," manager Dave Roberts told reporters Tuesday night, as shown on SportsNet LA. "There is an effect from the lower half to the compromising of the upper half. So trying to mitigate that, we stopped the throwing, stopped the bullpens, trying to take care of the knee and hopefully not try to create velocity with the arm that's not 100 percent."
Ken Rosenthal at The Athletic wrote about how Ohtani's injuries, which might prevent him from pitching in October (though the Dodgers insist his rest now is a precaution and that they expect him to pitch in the postseason), could increase the Dodgers likelihood to pursue Tarik Skubal before next Monday's trade deadline.
Ohtani homered and doubled on Tuesday, part of a three-hit game against the Mariners. But he's hitting .250/.307/.500 in July, decent numbers but well below his established norms. Since the All-Star break, Ohtani is hitting .238/.283/.405.

#tuesday #game #rest #since

NEW YORK — Andy Green understands that there is a fine line he needs to walk while managing the Mets with five days to go until Major League Baseball's trade deadline.
With the Mets in clear sell mode, Green is open to talking with the players who believe they are on the block, but has not been inundated with questions.
As for keeping workloads in check with deals on the horizon, the Mets have the benefit of an unscheduled off day on Tuesday after thunderstorms rolled through the area. The top arms in the bullpen, which are likely to be pillaged at the deadline, is largely fresh coming off the idle day and a blowout 14-3 victory over the Braves on Monday.
The Mets will now look to find success with a rested roster in Wednesday's split-admission doubleheader against the Braves on Wednesday, with games slated for 1:10 p.m. and 7:10 p.m., at Citi Field.
Sean Manaea (2-5, 4.52 ERA) will take the ball the ball for the Mets in the opening game against AJ Smith-Shawver, who is making his first start since late May last season after undergoing Tommy John surgery. Manaea is coming off one of his best starts when he held the Dodgers to one run across six innings.

#METS #green #coming

By Sam Tabahriti
LONDON, July 29 (Reuters) - Apple said on Wednesday that proposed UK rules governing its App Store would amount to price ‌regulation, arguing that plans to loosen its control over in-app payments ‌could undermine innovation and investment.
In a submission to Britain's Competition and Markets Authority, the iPhone maker said proposed "steering" requirements would go beyond promoting competition and give the regulator a "highly intrusive" role in managing its business.
The CMA's consultation, which closed on Monday, is part of its efforts to boost competition and consumer choice. Its proposed measures ‌would allow app developers to ⁠direct users to payment options outside Apple's App Store and Google's Play Store and require any fees charged for such ⁠steering to be fair and reasonable.
Apple said the App Store facilitated more than £46.5 billion ($61.8 billion) in UK billings and sales in 2025, with commissions accounting for less than 3.5% of the total. It added that there was no evidence changes to ‌its payment model would lower prices for consumers.

#store #proposed

Aliyah Boston had to be helped off the floor with an apparent right knee injury during the second quarter of Tuesday's Indiana Fever game vs. the Seattle Storm.
Boston was moving to the lane to receive a Caitlin Clark pass when she tripped over Flau'jae Johnson's foot. She appeared to land directly on her right knee and immediately grabbed at it in pain.
Players from both teams quickly surrounded Boston as the team trainer rushed out to check on her. She was helped off the floor and taken directly to the locker room.
Boston had has 11 points, two rebounds, an ***** ist and a steal through 10:38. She will likely be replaced at the 5 by a combination of Monique Billings and Makayla Timpson. Billings is off to a strong start vs. the Storm, scoring 12 points and six rebounds in 15:57.
Boston has been managing a right lower leg injury that's caused her to miss three games this season.

#storm #floor #directly #points

By Yantoultra Ngui and Selena Li
SINGAPORE/HONG KONG, July 27 (Reuters) - Investors are expected to scrutinise whether Shein can justify the $40 billion to $50 billion valuation it is seeking in a Hong Kong initial public offering after a prospectus filed ‌on Sunday showed slowing growth and a sharp decline in profitability.
Revenue rose 8% to $41.8 billion in 2025, but net ‌income fell 39% to $2.06 billion. In the first quarter of this year, the fast fashion retailer swung to a $99 million loss, the filing showed.
While the quarterly loss partly reflected a $328 million fair-value charge on convertible redeemable preferred shares following an accounting change, slowing revenue growth and weaker core earnings underscore the company's mounting challenges.
"Institutional investors on the HKEX (Hong Kong Stock Exchange) will ... zero in on the 2.9% operating margin," said Winston Ma, executive director of the Global Public Investment Funds Forum and a former managing director at the China Investment Corporation.

#hong

By Yantoultra Ngui and Selena Li
SINGAPORE/HONG KONG, July 27 (Reuters) - Investors are expected to scrutinise whether Shein can justify the $40 billion to $50 billion valuation it is seeking in a Hong Kong initial public offering after a prospectus filed on Sunday showed slowing growth ‌and a sharp decline in profitability.
Revenue rose 8% to $41.8 billion in 2025, but net income fell 39% to $2.06 billion. In the first ‌quarter of this year, the fast fashion retailer swung to a $99 million loss, the filing showed.
While the quarterly loss partly reflected a $328 million fair-value charge on convertible redeemable preferred shares following an accounting change, slowing revenue growth and weaker core earnings underscore the company's mounting challenges.
"Institutional investors on the HKEX (Hong Kong Stock Exchange) will ... zero in on the 2.9% operating margin," said Winston Ma, executive director of the Global Public Investment Funds Forum and a former managing director at the China Investment Corporation.

#hong #billion #slowing

Crypto exchange BitMart said Sunday it will wind down its trading platform after nine years, sending its BMX token crashing and marking the second major crypto exchange to announce its closure in a week.
The exchange stopped taking new registrations, deposits, and orders from 01:30 UTC on Sunday. All spot and derivatives trading ends August 26, and the platform formally shuts on January 31, 2027.
The platform added that it "remains committed to managing this wind-down process in a responsible, orderly, and transparent manner." Withdrawals remain open, though BitMart warned that identity, device, sanctions, and source-of-funds checks could slow processing as users rush to exit.
BitMart blamed its "operating conditions, market environment, and future strategic direction," without saying which forced the decision. BMX, its exchange token, has crashed 81% over the past week to $0.057, cutting its market value to $19.6 million, according to CoinGecko data.
The platform lost $196 million to a hot-wallet breach in December 2021, one of the larger exchange hacks of that cycle, and covered customer losses.

#bitmart #Crypto #token #week

EAGAN, Minn. — The Minnesota Vikings quarterback competition is continuing into training camp.
Kyler Murray and J.J. McCarthy will split first-team snaps during the early portion of camp.
Head coach Kevin O'Connell met with each of his quarterbacks as they reported to camp this week to explain his vision and plan for managing snaps and determining who will start Week 1. O'Connell has an ideal timeline in mind for making a decision, he said Tuesday, though he declined to share it publicly.
"I told the quarterbacks: 'We don't need to make this 50-50,'" O'Connell said in an introductory news conference from team headquarters. "I know we'll be thorough. I know both guys will feel like they've gotten an opportunity to compete."
O'Connell expects Murray and McCarthy to have similar numbers of first-team reps initially but that gap will widen based off the structure of camp as well as what defensive coordinator Brian Flores is dialing up for his group at any time. Perhaps one quarterback will get more reps on a day because he's shown the coaches less third-down work so far, for example. Another day, a different emphasis could shift the evaluation.

#camp #mccarthy #quarterback #first

The BitMart and BitMEX shutdowns have drawn bullish reactions, with ******* ysts calling the closures a healthy reset.
BitMart began winding down on Sunday, three days after BitMEX confirmed its own exit. AscendEX closed on July 1, bringing the total number of exchange closures this month to 3.
Moonrock Capital founder and managing partner Simon Dedic argued that the recent closures of several centralised crypto exchanges reflect deeper flaws in the industry's business model.
"The extraction model has a fatal flaw: it needs a steady supply of victims. When those dry up, so does the business. One of the underrated perks of a brutal bear: the market is actually healing," he noted.
Ran Neuner, CEO of Crypto Banter, made a cycle-timing argument instead. According to him,

#bitmart #business #model #moonrock

On the ESPN College Football podcast, Dan Wetzel asked: is Michigan football poised to surprise pundits across the sport in 2026? His compatriot there on the writing side, Bill Connelly, notes in his preview that if a few things go right for the maize and blue, a deep run could be in their future.
In his feature-length write-up on the conference, the Wolverines aren't one of Connelly's contenders for the ****** le and beyond -- such belongs to Ohio State, Oregon, and Indiana -- but Michigan is in the same category as USC, Penn State, Washington, Iowa, Illinois, Nebraska, Minnesota, UCLA, Maryland, Wisconsin, and Northwestern as schools that 'could be a couple of breaks away from a run."
Of course, Michigan is thought of much more highly than, say, UCLA, Maryland, and Northwestern, but Connelly asks a couple of questions that the answer will determine the team's ceiling in 2026.
Whittingham's bona fides are top notch, but I do have two big questions.
1. Can the hard-nosed overachiever coach properly connect with and motivate a roster of blue-chippers? Going from managing a roster of chip-on-their-shoulder underdogs (relatively speaking) to leading higher-caliber recruits with higher expectations has tripped up plenty of coaches through the years. And that's without getting into the fact that Whittingham is 66 years old. (Between Patterson and Whittingham, it's a big year for 66-year-olds.)

#whittingham

Ahead of the match between his former and current clubs, Kagawa spoke with managing directors Carsten Cramer and Lars Ricken, among others. Roman Weidenfeller was also at the table. The two had played together for Borussia Dortmund and won two German championships and two DFB Cup ***** les together. Joo-Ho Park, who played for BVB from 2015 to 2017 and is now active with the BVB Legends, also joined the group.
"You've been part of professional soccer for 20 years, and we want to honor that," said Cramer as he presented Kagawa with a trophy commemorating his now 20-year professional career—along with an invitation to represent BVB as an ambassador in the future.
Kagawa's professional career began at Cerezo Osaka. He now plays for that club again and will face Borussia Dortmund on Wednesday. "I'm very proud that the relationship continues, and I still think about the ***** les and memories from my time in Dortmund. The older I get, the more that means to me," the now 37-year-old said at a press conference about BVB at noon. (cr)

#titles

Myles Garrett is obviously the headliner of the Los Angeles Rams' pass rush, but Byron Young is a crucial part of the defense, too. Entering a contract year, Young is looking to get even better in 2026 after making the Pro Bowl for the first time last season.
Unfortunately, he's not fully healthy, and it sounds like he hasn't been in quite some time.
After sitting out practice on Monday, the Rams' second session of training camp, Young told reporters that he's still nursing a knee injury that's bothered him "for years." Young says he's "feeling real good," but he spent his offseason managing his knee with the Rams' training staff.
"It's been good," Young said of his offseason. "I've just been nursing up my knee. That was a process. They've got a good plan for me in place."
Young was asked about the recovery plan for his knee, and he says he and the Rams are going to take it "day by day." He practiced on Sunday and then sat out Monday's practice, but he plans to be back on the field "in a couple of days."

#knee #plan

By Xinghui Kok
SINGAPORE, July 27 (Reuters) - Singapore's central bank tightened its monetary policy settings unexpectedly on Monday, with inflation projected to step up in the months ahead.
Singapore's central bank has a unique ‌method of managing monetary policy, tweaking the exchange rate of its currency instead of changing domestic interest ‌rates like many economies.
The Monetary Authority of Singapore (MAS) sets the path of what it calls the policy band of the Singapore dollar nominal effective exchange rate (S$NEER), thus strengthening or weakening the local currency against those of its main trading partners.
WHY DOES SINGAPORE USE THIS METHOD?

#Singapore

By Clare Jim and Danial Azhar
HONG KONG/JOHOR, Malaysia, July 24 (Reuters) - After leapfrogging Singapore to become the region's fastest-growing data centre hub, Malaysia is facing intensifying scrutiny as the resources debate that has complicated the industry's growth spreads to emerging Asia.
Protests over a data centre complex in Johor state's southern tip — the epicentre of the boom — were the first of their kind in ‌the country. In Selangor, the richest and most populous state, debate about the burden on communities has become politicised.
"Two years ago, it was just about building capacity," said Cheam Tat Inn, managing director ‌at the Malaysian arm of U.S. data centre operator Equinix.
"The conversation today is more like, How will you use power? Are you looking at renewables? They want to see how you're going to grow sustainably and responsibly."

#johor #debate #clare

Real Madrid have entered the battle for Yan Diomande, and that matters. It matters for RB Leipzig, it matters for Paris Saint-Germain, and it certainly matters for Liverpool, who had already tested the water earlier in the summer over a deal worth close to €100million. Once Madrid show up, the market changes. Prices move, agents gain leverage, and clubs with genuine interest quickly discover whether they are truly prepared to go all the way.
According to David Ornstein of The Athletic, Madrid are now in talks with Leipzig over the 19-year-old winger. PSG remain keen and, crucially, Diomande had made the European champions his preferred destination. That preference is relevant, though only up to a point. Leipzig are under no pressure to sell, the player is contracted until 2030, and no club gets a discount just because it happens to be favoured by the player.
This is where Liverpool's position starts to look awkward. They made an approach earlier in the window, with the report stating it was "approaching €100million (£86.8m; $115m) in value." Leipzig, however, were "holding out for a fee closer to €130m" while also attempting to secure Diomande on a new deal. In other words, the German club's stance has been clear from the start. If someone wants one of the most explosive young wide players in Europe, they will pay heavily for the privilege.
Photo IMAGO
There is no mystery around Leipzig's public line either. "Our clear intention is that Yan Diomande will play for RB Leipzig next year," the club's managing director of sport Marcel Shafer said. Clubs say things like this all the time, and sometimes they are posturing. Sometimes they are setting up a negotiation. In this case, it looks more like a simple message, bring a huge fee or go away.

#diomande #matters #sometimes #year

Commodity traders are having the rug pulled out from under one of their biggest paydays yet as refiners start bypassing oil and traders and buying Venezuelan crude directly, according to Reuters. Refiners and major oil-producing firms are rapidly gaining market share in Venezuelan crude by locking in direct supply contracts with state-run Petróleos de Venezuela, S.A. (PDVSA), bypassing the global middlemen and commodity trading houses such as Trafigura and Vitol that previously dominated the ***** e.
Six months after traders reopened Venezuela's oil market, Phillips 66 (NYSE:PSX) and India's Reliance Industries have already signed direct supply agreements, with Valero (NYSE:VLO) and Thailand's Tipco expected to follow.
Previously, Vitol and Trafigura enjoyed first-mover advantage, managing to become dominant in Venezuelan crude marketing because of their exclusive U.S. government licenses, pre-existing logistical infrastructure and historical ties to PDVSA. Following major political shifts in Venezuela in January, the U.S. administration brokered a deal to manage and sell the country's oil. The U.S. Department of the Treasury issued special, long-term licenses specifically to Vitol and Trafigura until June 2027, effectively giving the traders a temporary monopoly. The pair collectively moved more than 100 million barrels of crude over a six-month period while other global firms remained legally locked out.
Their unmatched logistics also gave them a clear upper hand. After all, global trading houses have the fleet capacity and global reach to quickly deploy tankers and reroute large volumes of crude. They could absorb massive storage and shipping costs in a difficult market, using floating storage facilities in places like Malaysia to break up bulk shipments. When the ongoing war in Iran disrupted Middle Eastern supply chains, Vitol and Trafigura quickly diverted heavy Venezuelan grades like Merey 16 to major Asian refining hubs in India, South Korea, and Malaysia at narrower discounts.
Related: Equinor CEO: Europe May Miss Winter Gas Storage Goal

#venezuelan #crude #storage

Photo via ****** nal Academy on Twitter
The German Football ****** ociation have officially announced that former ****** nal defender and academy manager Per Mertesacker will become the DFB‘s new Managing Director of Sport at the start of next year.
Mertesacker will replace Andreas Rettig, whose existing deal lasts until the end of 2026. The former ****** nal man will be responsible for both the national team and their youth system.
Arsenal Head of Coach and Player Development Marcel Lucassen and Academy Manager Per Mertesacker during the The Checkatrade Trophy group match betw…
“I am very much looking forward to this new task and the responsibility that comes with it,” Mertesacker said. “My connection to the DFB never broke off, even after the end of my national team career. That’s why it’s something special for me to return in this role.

#academy

Speaking in front of the media for the first time since officially being announced as Germany’s new head coach, Jürgen Klopp has set boundaries with the media and the DFB.
DFB President, Bernd Neuendorf, kicked off the press conference by stating what had occurred to get here and how pleased they are to have the former Mainz, Borussia Dortmund, and Liverpool man on board:
“We’ve had very intensive talks in recent weeks. He was our preferred solution from the beginning; we were all in agreement on that within the ******* ociation. We made every effort to bring Jürgen Klopp on board. He is the best solution.”
Neuendorf also confirmed that Klopp’s staff will include Peter Krawietz, Pepijn Lijnders, and Sven Bender. Per Mertesacker will also replace the outgoing Andreas Rettig as DFB Managing Director at the end of 2026.
Before setting out his stall, Klopp firstly took time to reflect on the previous weeks and securing the role:

#neuendorf #solution