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News from October 30, 2025

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Nobel economist lays out '3 types of lasting damage' from Trump's economic 'rampage'
Technology

Nobel economist lays out '3 types of lasting damage' from Trump's economic 'rampage'

When Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent are interviewed by friendly media outlets, they typically argue that President Donald Trump's steep new tariffs will create enormous prosperity in the United States. But liberal economist Paul Krugman has a very different view. In a Substack column posted on October 30, Krugman warns that even if Trump abandoned his protectionist trade policy, the U.S. economy would suffer long-lasting damage. "A little over six months ago," Krugman explains, "Donald Trump shocked the world by announcing a huge jump in tariffs to levels not seen since the 1930s. Most of these tariffs were clearly illegal and have been so ruled by lower courts — but it's anyone's guess how an extremely submissive Supreme Court will rule. Since then, he has backed off some tariffs but imposed others, some on bizarre grounds — a Canadian province ran an ad he didn't like! — creating constant uncertainty." Krugman goes on to identify "three types of economic damage" that "Trump's chaotic tariff policies" have inflicted: (1) "higher prices for American producers and consumers," (2) "economic uncertainty," and (3) "the global loss of American credibility." "Even if the worst in terms of prices and uncertainty is over," Krugman argues, "it's clear that Trump's tariffs have inflicted lasting damage on the U.S. economy as well as the global economic order." During the United States' 2024 presidential race, Trump attacked then-President Joe Biden and then-Vice President Kamala Harris relentlessly on inflation — which he promised to lower "on Day 1" if he returned to the White House. But Krugman laments that prices are going up, not down, during Trump's second presidency. "Inflation has accelerated since Donald Trump went on his tariff rampage," the liberal economist warns. "Late last year, before Liberation Day and all that, professional forecasters expected 'core' consumer prices — which exclude volatile food and energy prices — to rise 2.4 percent over the course of 2025. The latest official reading, and the last we may get for a while, put core inflation at 3 percent. More direct evidence comes from the Pricing Lab, which relies on retail prices posted online — something we need to do while the shutdown lasts, and maybe afterwards if Trump corrupts the official statistics." Krugman continues, "I've used their data before. They show a significant bump in the prices of imported goods, especially compared with their declining trend BT (before Trump). In a new paper, the Pricing Lab analyzes its data and estimates that the Trump tariffs have raised overall consumer prices by 0.7 percent." Paul Krugman's full Substack column is available at this link.

Alex Henderson
Is your carry-on putting flights at risk? United flight turns back mid-Atlantic after passenger’s lithium-ion laptop slips into inaccessible cargo area
Technology

Is your carry-on putting flights at risk? United flight turns back mid-Atlantic after passenger’s lithium-ion laptop slips into inaccessible cargo area

united airlines A United Airlines transatlantic flight bound for Rome made an unusual U-turn and returned to Washington Dulles Airport on Oct. 15 after a passenger’s laptop fell through a gap in the cabin wall and into a portion of the aircraft’s cargo area that the crew could not access, according to air-traffic recordings and airline tracking data. The lithium-ion laptop posed a safety risk to passengers after it fell near a sensitive section of the aircraft.“We have a minor situation here with a passenger who has somehow dropped a laptop that was on … down the sidewall into the cargo pit area of the airplane,” one of the pilots told Air Traffic Control (ATC) when they were notified.Flightradar data indicates that less than an hour into its eight-hour journey on October 15, a United Airlines Boeing 767-400ER executed an unexpected U-turn just off the coast of Boston.“Unfortunately, we’ll need clearance to return to Dulles,” one of the pilots informed Air Traffic Control just before the flight was set to cross the Atlantic Ocean.In the discussion with ATC, the pilots noted that the laptop had been powered on when it fell, and they were uncertain how long its battery would continue running.Live Events“We don’t know the status of it. We can’t access it. We can’t see it. So our decision is to return to Dulles and find this laptop before we can continue over the ocean,” the pilot added.Rather than declaring an emergency, the pilots informed ATC that the situation was purely a precautionary measure.“You know, due to the lithium battery in the cargo area, where it’s actually even … not even near the suppression system that we have for, you know, fires down there. So this is just a safety precaution.”After receiving clearance from ATC to reroute, the aircraft returned to Dulles Airport, landing at 12:35 am, more than two hours after departing for Rome.The laptop was eventually recovered, allowing the plane to refuel and depart again at 3:25 am. The pilots were commended for prioritizing passenger safety, though the flight arrived in Rome roughly five hours later than scheduled.Reflecting on the unusual incident, one ATC controller remarked to the crew, “I’ve never heard anything like that before. Good story to tell at the pilot lounge.” The pilot responded, noting, “That’s a first for me.”Lithium-ion batteries, which power devices such as laptops and smartphones, can pose risks to aircraft if damaged or overheated. As a result, airports and airlines have implemented stricter safety measures, including restrictions on placing such batteries in checked luggage.FAA data shows that lithium battery incidents have been steadily increasing, with the US reporting more than 50 cases just this year.Earlier this month, an Air China flight headed to Seoul had to make an emergency landing in Shanghai after a lithium battery in a passenger’s carry-on caught fire. Reports indicate that the flight crew successfully managed the situation, and no injuries were reported.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onUnited Airlinestransatlantic flight returnair traffic control incidentairline safety measuresatlantic oceanboeingpassenger safety precautions (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onUnited Airlinestransatlantic flight returnair traffic control incidentairline safety measuresatlantic oceanboeingpassenger safety precautions(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless Explore More Stories123

Manu Kaushik
FIA investigates Ex-FBR Chief Shabbar Zaidi Over Rs16 Billion Refund Controversy
Technology

FIA investigates Ex-FBR Chief Shabbar Zaidi Over Rs16 Billion Refund Controversy

KARACHI – Federal Investigation Agency (FIA) filed a case against former Federal Board of Revenue (FBR) Chairman Shabbar Zaidi over allegations of misuse of authority. According to FIA’s Anti-Corruption Circle, Zaidi allegedly unlawfully released Rs16 billion to banks and companies that were his clients during his tenure from May 10, 2019, to January 6, 2020. The case states that he, along with other officials, misused his position by issuing unauthorized refunds to these companies. The investigation will be led by Assistant Director Nand Lal. Zaidi is a Pakistani chartered accountant and former Chairman of the Federal Board of Revenue (2019–2020). He has held leadership roles in the Institute of Chartered Accountants of Pakistan and the South Asian Federation of Accountants, and served as a partner at PwC Pakistan. He also authored books on Pakistan’s economy and governance and is actively involved in non-profit and educational initiatives, including SIUT and KSBL. He currently appears as an economic analyst on Pakistani television.

Web Desk lahore
India regulator bars Gretex from merchant banking for 21 days over IPO lapse
Technology

India regulator bars Gretex from merchant banking for 21 days over IPO lapse

India’s markets regulator on Thursday barred Gretex Corporate Services Ltd from taking on new merchant banking assignments for 21 days with immediate effect, citing lapses in due diligence during the public listing of small firm Jayant Infratech Ltd. The Securities and Exchange Board of India (SEBI) said Gretex failed to verify and disclose that nearly 40% of the IPO proceeds were proposed to be used as a deposit for renting an office premises that was still under construction. The firm relied solely on a site visit and did not obtain supporting documents such as a completion or occupancy certificate, SEBI added. Gretex did not immediately respond to a request for comment outside office hours. India has seen a surge in IPOs from small and medium-sized enterprises (SMEs) with annual turnover between 50 million and 2.5 billion rupees, prompting tighter regulatory scrutiny to protect investors. SEBI said Gretex’s “perfunctory” due diligence misled investors about the use of IPO proceeds and breached disclosure norms. It also noted that the firm failed to maintain the required minimum net worth of 50 million rupees in 2019–20, violating merchant banking regulations. While Gretex later took corrective action to restore its net worth, SEBI said the failure to disclose was a “substantive lapse” warranting regulatory action.

Reuters
Here's Why Indivior Stock Soared 15% Today
Technology

Here's Why Indivior Stock Soared 15% Today

Shares in Indivior Plc (INDV +13.79%) were up by 15.5% at 1 p.m. ET today after management released an excellent set of third-quarter results, upgraded its full-year guidance, and served notice that its "Indivior Action Agenda" three-phase plan is generating momentum as the profitable and cash-generative company grows sales of its key prescription medication Sublocade. Indivior goes for growth According to Indivior, Sublocade is "indicated for the treatment of moderate to severe opioid use disorder in patients who have initiated treatment with a single dose of a transmucosal buprenorphine product or who are already being treated with buprenorphine." Sublocade contains buprenorphine, but its delivery system offers a monthly dosage compared to the daily dosage regimen of buprenorphine -- something that can be a significant benefit for opioid use disorder sufferers. It's Indivior's key medication, and a key part of the pharmaceutical company's three-phase plan is to grow sales in the U.S. This is being achieved by increasing U.S. Sublocade sales by 7% in the first nine months of 2025 compared to the same period in 2024. Moreover, management updated its full-year guidance for total Sublocade sales to $825 million to $845 million, compared to previous guidance for $765 million to $785 million. Phase 2 and phase 3 Management is also aiming for $150 million in annual expense savings in 2026 through restructuring and consolidating its operating footprint, while engaging in the second phase (accelerating Sublocade revenue growth in the U.S. and converting it into earnings and cash flow generation) before moving on to the third phase (using the improved financial profile to generate growth through acquisitions). While the uniqueness of the "action agenda" is debatable, the progress made by the company is not, and if it can maintain the sales momentum established in 2025, the future looks bright.

Lee Samaha
A Further 20% Bitcoin Correction on the Table: Glassnode
Technology

A Further 20% Bitcoin Correction on the Table: Glassnode

It's no secret that the price action in bitcoin BTC$106,989.27 hasn't been great of late, but in truth, the world's largest crypto has mostly traded in a range between about $100,000 and $120,000 for nearly the whole of 2025. That may be about to change in an ugly way, according to Glassnode, whose latest weekly report highlighted growing concern for bitcoin BTC$106,989.27 as it struggles to reclaim the $113,000 short-term holder cost basis, which represents the average purchase price of investors who bought within the last 155 days. This level serves as a key threshold for sustaining a bull market. Despite multiple attempts to regain it, bitcoin’s repeated failures suggest weakening momentum. Glassnode warns that if the price continues to falter, a tumble all the way back to $88,000 — the next significant support level — could be in the cards. That $88,000 level is the current active investors’ realized price, a metric which reflects the cost basis of actively circulating supply that often marks deeper corrective phases. This same metric nearly came into play during the April 2025 “tariff tantrum” correction. The report suggests investor sentiment is showing signs of strain. Short-term holders are now selling at a loss. The Short-Term Holder Net Unrealized Profit/Loss (STH-NUPL) sits at –0.05 with bitcoin around $107,000, signaling mild losses. While not at full capitulation levels (around –0.2), it reflects deteriorating confidence. Long-term holders are also contributing to sell pressure. The Long-Term Holder Net Position Change has declined by 104,000 BTC this month, marking the largest wave of distribution since July. Glassnode notes that until long-term holders shift back from selling to accumulation, price recovery is likely to remain constrained. Meanwhile, the derivatives market appears calmer following the October liquidation crisis. Realized volatility has dropped to roughly 43%, and traders have scaled back downside hedges. The one-week options skew, which spiked above 20% during October’s turmoil, has now normalized near neutral, according to Glassnode. Overall, Glassnode sees the bitcoin market transitioning into a consolidation phase after October’s turmoil. However, sentiment and structural demand remain fragile, suggesting that while the worst of the panic may be over, recovery will depend on renewed investor conviction. Bitcoin is currently trading just under $107,000 lower by 4% over the past 24 hours.

James van Straten
Why FormFactor Stock Exploded Higher Today
Technology

Why FormFactor Stock Exploded Higher Today

Here in the middle of the artificial intelligence (AI) revolution, semiconductor stocks are red-hot -- and of the reddest, hottest semiconductor stocks on the market today is FormFactor (FORM +25.71%), a maker of probe cards and other equipment for testing the quality of manufactured chips. FormFactor stock is flying today -- up 23.6% through 1:15 p.m. ET -- after the company beat on earnings last night. Analysts forecast FormFactor to earn just $0.25 per share on $200 million in third-quarter revenue, but FormFactor actually earned $0.33 per share on sales of $202.7 million. FormFactor Q3 earnings That's still a pretty small revenue number for such a big earnings surprise -- and what's perhaps most surprising is that FormFactor's revenue actually declined 2.5% year over year (although it was up sequentially). Still, as CEO Mike Slessor pointed out, FormFactor is really "focused on, and committed to, improving our profitability." And FormFactor's making some progress there. True, the company's $0.33 profit was only a non-GAAP (adjusted) number. But actual earnings as calculated according to generally accepted accounting principles (GAAP) also improved markedly, nearly doubling sequentially to $0.20 per share. Still, as with revenue, GAAP earnings were down year over year, falling about 17%. Is FormFactor stock a buy? Worst of all, FormFactor's forecast for Q4 is an anemic $0.19 per share in GAAP net income, despite sales growing to $210 million, plus or minus. These numbers appear to be better than what Wall Street is looking for. Still, with the stock valued at $4.5 billion, trailing net income less than $44 million, and a price-to-earnings ratio consequently hanging at a very high ratio of 102, I find it hard to get excited about the stock -- earnings beat notwithstanding. For me, I'm afraid FormFactor stock remains a sell.

Rich Smith
China Agrees To Purchase 11 U.S. Soybeans 
Technology

China Agrees To Purchase 11 U.S. Soybeans 

SEOUL—In a historic trade agreement that President Donald Trump touted as a major win for an American farmer, China reportedly agreed Thursday to purchase 11 U.S. soybeans. “I am extremely honored that President Xi has authorized China to begin the purchase of this unprecedented amount of American-grown soybeans—not merely nine or 10 beans, but 11 whole, intact beans,” Trump said at a highly anticipated summit in South Korea with his Chinese counterpart, moments after handing President Xi Jinping a small handful of dry soybeans from his pants pocket in exchange for 2 cents worth of aluminum. “I counted these beans myself, and frankly, it’s a massive quantity. President Xi is a great friend of mine, and even he has to admit that, together, we have finally delivered a fantastic deal for the American people. Wait, hold on, I think I handed you 12 beans there, Xi. Can you give me one back?” At press time, Trump confirmed he had started negotiations for a Chinese trade deal involving an entire corncob.

The Onion Staff
Meet Rob Jetten, leader of the centrist D66 party in the Netherlands, who could become the country’s first gay PM
Technology

Meet Rob Jetten, leader of the centrist D66 party in the Netherlands, who could become the country’s first gay PM

Rob Jetten, the energetic leader of the Dutch centrist D66 party, is on the brink of making history. At just 38, he’s set to become the Netherlands’ youngest and first openly gay prime minister following his party’s strong showing in the October 29 election.ALSO READ: What does 67 mean, who made the 67 meme and why is it so popular?How did Rob Jetten rise to prominence? Rob Jetten transformed his public image from a “nagging climate minister” into an optimistic, forward-looking politician. His campaign struck a balance between positivity and practicality, winning over voters from both sides of the political spectrum. By broadening D66’s traditional focus on climate and education to address immigration and housing, Jetten managed to appeal to a more diverse base. With a polished message and increased advertising, his slogan-driven optimism — echoing “yes, we can” — resonated deeply. On election morning, he posted on Instagram, “Together we can beat Wilders, I am ready.” That confidence has now paid off, as exit polls show his party gaining significant ground, as per a report by CNBC TV.ALSO READ: 10 low-effort Halloween costumes that’ll save you time and still turn headsLive Events What sets Jetten’s campaign apart? Jetten’s campaign stood out for its focus on unity and positivity amid divisive politics. He repeatedly called out far-right leader Geert Wilders for “hijacking Dutch identity” and “only standing up for women’s and LGBTQ rights to cast Muslims in a poor light.” His colleague Kajsa Ollongren, a D66 party member and former defence minister, praised his leadership,"Rob is without a doubt one of the most talented politicians the Netherlands has ever had,” said Kajsa Ollongren, a D66 party member who served as defence minister in government with Jetten. "I’m sure that if we win as the exit polls say we do, he’ll want to unite the country and turn around the negative spiral that Wilders has pushed the country in."ALSO READ: What is the 6-7 Halloween costume and is it spooky enough? Can it be made at home? Jetten’s sexuality, while historic, was not central to his campaign. The Netherlands, long recognized for its LGBTQ rights, legalized same-sex marriage 25 years ago under a government led by his party, as per a report by CNBC TV. What are his policy goals? Jetten’s platform combines progressive ideals with practical governance. To manage immigration, he proposed that asylum applications be submitted from outside the EU, aiming to prevent dangerous journeys while strengthening integration programs. His policy emphasizes compassion and accountability, ensuring “people that really are fleeing from war and violence are received in a decent way, learn the language and can participate (in society) and that the rotten apples are pulled out of the system and are deported," as per a report by CNBC TV.ALSO READ: YouTube quietly launches exit program for US workers — is a mass layoff coming? On housing, one of the Netherlands’ most pressing concerns, Jetten promised to tackle the shortage by building ten new towns, allocating 2 billion euros annually to expand housing options. He also pushed for cutting bureaucratic hurdles to build 100,000 new homes every year, including repurposing large buildings and agricultural land, as per a report by CNBC TV. What makes Rob Jetten’s story unique? Beyond politics, Jetten’s personal life has drawn attention for its authenticity and relatability. His “bromance” with another politician went viral on TikTok in 2021 — a social media moment that led him to meet his now-fiancé, Argentinian hockey player Nicolas Keenan. The two plan to marry next August. Despite the challenges of campaigning amid political hostility, including attacks on his party’s headquarters, Jetten remained composed. When the D66 offices were vandalized during anti-migration protests, he was filmed addressing extremism while standing in the shattered glass, an image that became symbolic of resilience, as per a report by CNBC TV. Even appearances outside politics boosted his profile, including his stint on a trivia quiz show that aired during the campaign. That visibility helped cement his public image as both relatable and capable. What’s next for the Netherlands under Rob Jetten? If coalition talks succeed, Rob Jetten’s leadership will mark a generational shift, a young, openly gay leader steering one of Europe’s most liberal democracies. His message of optimism and cooperation stands in stark contrast to the country’s recent polarization. As he prepares for what could be a historic premiership, Jetten’s focus remains clear: unity, progress, and restoring faith in Dutch politics.FAQsWho is Rob Jetten?He’s the 38-year-old leader of the centrist D66 party and is set to become the Netherlands’ first openly gay prime minister.What are Rob Jetten’s main priorities?He’s focused on housing, climate policy, immigration reform, and political unity.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onRob Jetten first gay PMRob JettenNetherlands first openly gay prime ministerD66 partyLGBTQ rights in NetherlandsRob Jetten election campaignleader of the centrist d66 part (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onRob Jetten first gay PMRob JettenNetherlands first openly gay prime ministerD66 partyLGBTQ rights in NetherlandsRob Jetten election campaignleader of the centrist d66 part(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless Explore More Stories123

Cnbc Tv
Scottish electric vehicle chargepoints grew by 22.5% over last year
Technology

Scottish electric vehicle chargepoints grew by 22.5% over last year

Scotland’s public electric vehicle (EV) charging network grew by 22.5% in the last year, according to statistics from the Department for Transport. The UK Government department said there are now 7,355 chargers on Scotland’s roads, with a further 1,349 added since October last year. Overall, the UK’s EV charging network grew by 23% in the last year, bringing over 15,000 more charging devices to motorists on UK roads. A number of Scottish Government initiatives have offered funding to support EV infrastructure around the country. The UK government has also launched the £650 million Electric Car Grant, which enables discounts on certain models. UK minister for decarbonisation Keir Mather said: “There’s never been a better time to go electric – chargepoints are up 23% in a year, and we’re helping drivers save with discounts of up to £3,750 on new electric cars — all part of our Plan for Change. “We’re also cutting red tape so renters and those without driveways can access affordable home charging, making it easier and cheaper for everyone to make the switch.” Transport Scotland has been approached for comment.

Holly Lennon,Pa Media
Ethereum Developers Lock In Fusaka Upgrade for Dec. 3 With PeerDAS Rollout
Technology

Ethereum Developers Lock In Fusaka Upgrade for Dec. 3 With PeerDAS Rollout

Ethereum developers have officially inked in the long-awaited Fusaka upgrade for December 3, following a decision made during the network’s bi-weekly coordination call on Thursday. The move kicks off the countdown to Ethereum’s second hard fork of 2025. The Fusaka upgrade’s headline feature is PeerDAS, one of 12 improvements included in the release. PeerDAS allows validators to verify only portions of data, rather than entire “blobs,” significantly reducing bandwidth requirements and cutting costs for both validators and layer-2 networks. This will make Ethereum faster and cheaper, both for users making transactions and developers building on the network. The decision was finalized during the All Core Developers Consensus Layer (ACDC) call #168, just two days after the upgrade was successfully deployed on Hoodi, the third and final testnet, without any issues. The upgrade will activate on the Ethereum mainnet when the blockchain reaches slot 13,164,544, expected to occur at 21:49 UTC on December 3. “Let’s go ahead and do this,” said Alex Stokes, an Ethereum Foundation researcher who leads the ACDC calls. “This was a big lift to get this together by this point in time, so thank you for that. This is a really cool fork.” Read more: Ethereum’s Fusaka Upgrade Completes Final Hoodi Test Ahead of Mainnet Launch

Margaux Nijkerk
Why C.H. Robinson Stock Exploded Higher Today
Technology

Why C.H. Robinson Stock Exploded Higher Today

C.H. Robinson Worldwide (CHRW +20.21%) stock motored ahead 20.4% through 12:50 p.m. ET Thursday despite the freight transport and logistics company reporting mixed results last night. Heading into its Q3 report, analysts forecast Robinson would earn $1.30 per share on more than $4.2 billion in sales. In fact, while non-GAAP (generally accepted accounting principles) earnings were a better-than-expected $1.40, sales missed expectations at $4.1 billion. C.H. Robinson's Q3 earnings Robinson began its report on a down note, warning of "a continued soft freight environment," and CEO Dave Bozeman colorfully commented, "Truckload spot rates continue to bounce along the bottom due to low demand," while internationally, shipping has been disrupted by "front-loading" orders to avoid tariffs, leading to "dislocation of shipments." "This is a new C.H. Robinson," however, said Bozeman, "and we don't use the macro environment as an excuse" for missing numbers. Revenue may have fallen 11%, but Robinson offset that decline by cutting operating costs more than 12%. As a result, Robinson succeeded in growing net profit by 68%. In addition to beating on non-GAAP numbers, Robinson delivered a $1.34 per-share profit as calculated according to GAAP. Is C.H. Robinson Worldwide stock a buy? 2025's not done yet, but looking ahead, Robinson also raised guidance for 2026, with CFO Damon Lee predicting Robinson could conceivably earn as much as $6 a share next year as it captures market share and continues to expand profit margins. At its current $155 stock price, that works out to about a 26 times forward earnings valuation on the stock. For a commodity transport company pegged for only low-teens earnings growth over the next five years, that seems a bit expensive to me. Despite last night's earnings win, I can't yet call this stock a buy.

Rich Smith
Fenimore Sells Off All 244K WAT Shares Valued At $85.1 Million
Technology

Fenimore Sells Off All 244K WAT Shares Valued At $85.1 Million

Fenimore Asset Management Inc. fully exited its position in Waters Corporation (WAT +0.31%), selling approximately $85.09 million in shares. What happened According to a Q3 2025 filing submitted to the U.S. Securities and Exchange Commission on October 20, 2025, Fenimore Asset Management Inc. sold all 243,780 shares of Waters Corporation during the third quarter. The estimated trade size was $85.09 million, calculated using the average share price for the quarter. The fund reported no remaining Waters Corporation shares as of September 30, 2025. What else to know The fund fully liquidated its Waters Corporation holding, which previously accounted for 1.7% of AUM as of Q3 2025; post-sale, the position represents 0% of AUM. Top holdings after the filing: APH: $253.7 million (5.1% of AUM)ROST: $244.6 million (4.9% of AUM)VMC: $204.8 million (4.1% of AUM)BRO: $202.3 million (4.1% of AUM)SYK: $194.2 million (3.9% of AUM) As of October 29, 2025, Waters Corporation shares were priced at $345.29, down 6.9% YTD, underperforming/overperforming the S&P 500 by 23.7 percentage points during the same period. Company Overview Company Snapshot Offers high and ultra-performance liquid chromatography systems, mass spectrometry technology, thermal analysis instruments, and software-based analytical solutions.Generates revenue through the sale and servicing of analytical instruments, consumables, and software, with recurring income from post-warranty service plans and consumable products.Serves pharmaceutical, life science, industrial, environmental, academic, and governmental laboratories focused on research, development, and quality assurance.Waters Corporation is a leading provider of specialty measurement and analytical workflow solutions, operating globally with a focus on innovation in laboratory instrumentation. The company leverages its expertise in chromatography and mass spectrometry to address complex analytical needs across diverse scientific and industrial sectors. Its integrated approach, combining hardware, consumables, and software, supports customers in achieving high precision and efficiency in laboratory environments. Foolish take Fenimore Asset Management recently sold off its entire $85 million stake in Waters Corporation stock, completely exiting the analytical instruments maker after a pretty tough year for the shares. The stock is down almost 7% in 2025 through late October and has fallen behind the broader market as spending in life sciences and industrial sectors has cooled down. This move likely means the company is taking profits and shifting its portfolio into sectors that are growing faster or are more cyclical. Waters is still a major player in chromatography and mass spectrometry—these are essential technologies for pharmaceutical research, food safety, and environmental testing. The company’s stable foundation comes from the recurring revenue they get from consumables and service contracts, which holds up even when demand for new capital equipment slows down. Its long-term strength is in its innovation and its deep-rooted relationships with research labs and manufacturers. Fenimore’s decision to sell seems more like a tactical play than a sign of pessimism, as Waters’ strong balance sheet and reputation for precision will keep it well-positioned to benefit when lab and R&D spending eventually bounces back. Assets Under Management (AUM): The total market value of investments managed by a fund or asset manager. Liquidated: Sold off an entire investment position, reducing the holding to zero. Reportable assets: Investments that must be disclosed in regulatory filings, typically due to size or regulatory requirements. Filing: An official document submitted to a regulatory authority, often detailing financial or investment activities. Average price: The mean price at which shares were bought or sold over a specific period. Post-warranty service plans: Maintenance agreements for products after the original warranty period has expired. Consumables: Products used up during operation, such as reagents or parts, requiring regular replacement. Chromatography: A laboratory technique for separating mixtures to analyze their components. Mass spectrometry: An analytical method for identifying substances by measuring the mass of their molecules. TTM: The 12-month period ending with the most recent quarterly report. Integrated approach: Combining multiple products or services to provide a comprehensive solution for customers.

Adam Palasciano
Why a Workers’ Compensation Settlement May Not Be Enough
Technology

Why a Workers’ Compensation Settlement May Not Be Enough

When you’re injured on the job, workers’ compensation benefits can feel like a lifeline. They’re designed to cover medical bills, lost wages, and help you recover without financial disaster. But for many injured workers, that settlement check doesn’t stretch as far as expected. Once the paperwork is signed and the payments begin, reality often sets in, and some costs and consequences simply aren’t covered. Understanding why a workers’ comp settlement may not be enough can help you make better financial and legal decisions before accepting any offer. The Basics of Workers’ Compensation Settlements Workers’ compensation laws vary by state, but most operate under the same premise: if you’re injured while performing your job, your employer (through its insurance company) must cover certain expenses. That typically includes medical treatment, partial wage replacement, and in some cases, disability benefits. A settlement can take two main forms: a lump-sum payment or a structured agreement that pays out over time. The goal is to close your claim and provide compensation for your injuries and related losses. However, once a settlement is finalized, you usually waive your right to pursue any additional claims, even if your medical condition worsens later. That’s why it’s critical to understand exactly what your settlement covers, and more importantly, what it doesn’t. Compensation Settlements Rarely Cover the Full Scope of Damages Workers’ compensation was never meant to make employees “whole” in the same way a personal injury lawsuit can. It’s a trade-off: you receive guaranteed benefits without having to prove your employer was at fault, but you give up the right to sue for broader damages. For that reason, even a fair settlement may leave certain losses unpaid, like pain and suffering or loss of future earning potential. This limited scope can leave injured workers struggling to make ends meet, particularly if they experience ongoing medical complications or cannot return to their previous line of work. Medical Costs Can Escalate Over Time One of the biggest reasons settlements fall short is the unpredictable nature of medical recovery. A doctor’s initial prognosis may underestimate future needs, especially for injuries that worsen gradually or lead to secondary complications. For example, a back injury might seem stable at the time of settlement but later require surgery, physical therapy, or pain management years down the road. Once the settlement is finalized, the insurance company typically has no obligation to cover these new expenses. Even when a portion of the settlement is allocated for future medical care, it’s easy to underestimate how quickly those funds will be spent; medical inflation and changing treatment recommendations can make even a well-planned settlement inadequate. The Problem of Lost Earning Capacity Workers’ comp benefits only cover a fraction of your income while you’re unable to work, based on your average weekly wage. While that helps, it rarely replaces your full take-home pay. If your injury prevents you from returning to your old job or limits the kind of work you can do, your future earnings may drop permanently. Unfortunately, many settlements don’t fully reflect that long-term loss. For instance, an injured construction worker who can no longer perform heavy labor may have to take a lower-paying job, reducing lifetime earnings by tens of thousands of dollars. Once a settlement is signed, there’s no way to reopen the case to account for this change. Understanding the Role of Legal Guidance Insurance companies have one primary goal: to resolve claims for the lowest possible cost. While adjusters may seem sympathetic, their job is to minimize payouts. Without legal representation, it’s easy for injured workers to accept settlements that undervalue their cases. An attorney specializing in workers’ compensation can assess whether a proposed settlement truly reflects your current and future needs. They can also negotiate with insurers, secure independent medical evaluations, and ensure your rights are protected before you sign anything. If your injury involves permanent impairment, loss of future income, or complex medical treatment, professional legal review is especially critical. Planning for the Long Term Accepting a settlement is both a legal decision and a financial decision that affects your life for years to come. Before finalizing an agreement, take time to consider whether all future medical care has been estimated accurately, how the settlement aligns with your long-term earning potential, whether there are possible third-party claims, and how you’ll manage and protect your settlement funds. Consulting with both a workers’ compensation attorney and a financial advisor can give you a clearer understanding of your options and help you avoid costly mistakes. Finding the Best Solution A workers’ compensation settlement can be a helpful step toward recovery, but it’s rarely the whole solution. Many injured workers discover too late that their payout doesn’t cover long-term costs or compensate for the true impact of their injuries. Before signing any agreement, make sure you understand what’s included, what’s excluded, and what future expenses may still arise. With sound legal advice and careful financial planning, you can protect yourself from shortfalls and secure a more stable path forward after a workplace injury.

Melissa Thompson
Celtic forward Johnny Kenny hoping to be Hampden hero v Rangers after boost from brace in Falkirk win
Technology

Celtic forward Johnny Kenny hoping to be Hampden hero v Rangers after boost from brace in Falkirk win

Celtic forward Johnny Kenny is aiming to be a Hampden hero against Rangers after netting a brace on Wednesday night. The Hoops prepared for Sunday’s game against their city rivals with a convincing 4-0 win over Falkirk at Parkhead. Kenny has been leading the line in the absence of Kelechi Iheanacho and Daizen Maeda and he repaid new interim manager Martin O’Neill’s faith in him with a first-half double against the Bairns. And he is now hoping that can help him kick on towards cementing his place as a first-choice forward for the champions, starting with this weekend’s semi-final. Speaking after the game, he said: “It was brilliant, it’s always great to get two goals in any game. I felt it was coming in my last couple of performances, but just didn’t hit the net, and thankfully tonight they did. “I think we needed that result, the fans got behind us tonight, it was brilliant. “There is always going to be pressure playing for Celtic, no matter who the manager is or what the style of play is. “We need to react to that pressure by putting in big performances and getting big results. “I’d like to think (I could be the long term answer at centre forward), it was key for me to start getting goals tonight and hopefully that can now spur me on.” Maeda returned from injury on Wednesday night and will be in the running to start through the middle against Rangers at Hampden. Kenny regards the derby as one of the biggest games in world football, and is hoping he can take inspiration from fellow Irishman Adam Idah if he gets the chance to become a hooped hero on Sunday. Idah, who is now at Swansea, scored a late winner after coming off the bench in the 2024 final when Celtic beat Rangers 1-0 to lift the trophy. And Kenny would love to have a similar impact in the latest instalment. He said: “Tonight was a massive boost for me, I don’t think I can describe how much it will mean, and hopefully I can now take that into Sunday, which will be a massive game. “It’s one of the biggest games in world football, Adam Idah came into the team a couple of years ago and scored the winner against them at Hampden, so hopefully I can replicate something like that.”

Peter Cassidy
UHS declares MDCAT 2025 results
Technology

UHS declares MDCAT 2025 results

LAHORE – The University of Health Sciences (UHS) on Thursday announced the results of the Medical and Dental Colleges Admission Test (MDCAT) 2025. According to a UHS spokesperson, a total of 47,772 candidates appeared in the test held on October 26. The test carried 180 marks in total. Out of all the candidates, 42,048 secured more than 50 per cent marks, while out of them, 39,648 scored above 55 per cent, which is the minimum qualifying criterion for admission to the MBBS program. As per the result statistics, 817 candidates scored between 170 and 180 marks, 5,955 candidates obtained marks between 160 and 169, while 6,993 candidates scored in the range of 150 to 159. The spokesperson added that all candidates can check their results on the official website of the University of Health Sciences (www.uhs.edu.pk).

Staff Report
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