Core Scientific shareholders balk at terms of CoreWeave merger offer, FT reports
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The Independent
22 minutes ago
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What you should know about tipping on cruises
Cruise fares often do not include tips, known as gratuities or "crew appreciation," which are instead often added daily, per passenger and can significantly increase the overall cost. Daily gratuity rates vary by cruise line and cabin type, typically ranging from $16 (£12) to $20 (£15) per day for standard cabins and up to $27 (£20) per day for suites. While not compulsory, these tips are expected to reward various crew members, including those not directly seen by passengers. Some cruise lines, particularly British-focused ones like P&O Cruises and Marella, include gratuities in the initial fare, while others, such as Royal Caribbean, add them daily. Passengers can request to remove or reduce automatic gratuities at guest services, though this can be an awkward process, and additional tips can be given for exceptional service.
Reuters
23 minutes ago
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How hedge funds performed in turbulent July
LONDON/NEW YORK, Aug 5 (Reuters) - Hedge fund returns climbed in July as many were lifted by rising stock markets that hit record highs, though others were caught in turbulence sparked by U.S. trade uncertainty, according to a Goldman Sachs report and sources familiar with the funds. Hedge fund stockpickers returned almost 1.5% in July and are up roughly 7.8% for the year so far, said Goldman Sachs in a note to clients on Monday seen by Reuters. Systematic hedge funds trading stocks were on track to deliver their worst monthly performance on record before rebounding after July 25 to claw back half of their losses, finishing with a negative 2% return, said Goldman. These funds were up 10% for the year so far, however, added the bank. While stockpickers benefited by piling into already crowded trades, hedge funds using algorithms to create systematic trading strategies were hurt by busy trades, said Goldman. The S&P 500 (.SPX), opens new tab hit record highs during July, but only returned 1.38%. The biggest multi-strategy funds posted muted returns, including Schonfeld Strategic Advisors' flagship fund Strategic Partners, which was down 0.3% in July and is now up 5.8% for 2025, according to a source familiar with the matter. Schonfeld's Fundamental Equity fund gained 1.4% last month and was up 7.1% in the year, the source added. The $76.9 billion British hedge fund Marshall Wace returned a negative 0.2% in its Market Neutral TOPS fund, bringing its half-year performance to roughly 11%. Its Eureka fund returned 1.6% in July and is up 6.1% for 2025 so far, said another source familiar with the fund's results. *result as of Aug 4 **class B shares, as of July 25
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Reactions to Trump demanding Intel CEO's resignation
Aug 7 (Reuters) - U.S. President Donald Trump has demanded the immediate resignation of Intel (INTC.O), opens new tab CEO Lip-Bu Tan over concerns of his extensive investments in Chinese firms, just months after he assumed leadership of the struggling chipmaker. Tan has invested in hundreds of Chinese technology firms, including at least eight with links to the People's Liberation Army, Reuters reported in April. On Wednesday, Reuters exclusively reported that Republican Senator Tom Cotton questioned Tan's ties to Chinese firms and a recent criminal case involving his former company Cadence Design (CDNS.O), opens new tab. Some analysts and investors said Tan's deep knowledge of the Chinese semiconductor landscape is a strategic asset. Others see the political pressure as a sign of growing uncertainty around Intel. Here are some key quotes. "I believe that POTUS shouldn't be calling for any CEO to be stepping down, especially not one who just took the job this year. I think this all boils down to Lip-Bu's past involvement and investment in Chinese semiconductors, which is also what makes him so valuable as CEO." "He's more aware than most people on earth of China's capabilities and should be an asset to the U.S. and Intel." "While I can understand that many investors likely believe that President Trump has his hand in too many cookie jars, it's just another signal that he's very serious about trying to bring business back to the U.S. He has momentum from the Apple deal and now hoping that a few more businesses fall into place." "I think Trump is mostly attacking Lip-Bu because he wanted to stop the manufacturing business if Intel 14A doesn't work out with external customers. More speculation whether Trump is making some deals with TSMC to do something with Intel. I think it's very much a political move." "Investors remaining focused on issues like these hint that the company's manufacturing turnaround, and long-term viability, may be dependent on factors external to the company and thus increase long-term uncertainty." "It's not surprising. I mean we're seeing the administration step in and point fingers at private or corporate CEOs. It's not the first time he's done it, it's likely not the last time he'll do it." "It would be setting a very unfortunate precedent. You don't want American presidents dictating who runs companies, but certainly his opinion has merit and weight. The board of Intel will have to determine if that's something they would consider in their evaluation." "But this CEO is fairly new. So on one hand, I don't think the U.S. president has the ability to do that. I'm not sure that that's a good idea for any political official." "But certainly, when you look at where the company stands today, it hasn't benefited greatly over the last few years. And I think it's more than just a CEO issue here. It's the company's need for real, radical change."
