Elliott Eyes Bet on Pipeline Carrying Russian Gas
The U.S. hedge fund, headed by billionaire founder Paul Singer, is considering a stake in the Bulgarian extension of the TurkStream pipeline, along with access to a network of data centers, data cables and other infrastructure assets, according to people familiar with the matter.
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Why Gorman-Rupp (GRC) Stock Is Up Today
What Happened? Shares of gorman-Rupp (NYSE:GRC) manufactures and sells pumps globally. jumped 7.6% in the afternoon session after the company reported record second-quarter financial results that surpassed analyst expectations, driven by strong sales linked to infrastructure spending. The industrial pump manufacturer posted earnings of $0.60 per share on a record $179 million in revenue, surpassing analyst expectations. This performance marked a significant improvement compared to the $0.32 per share reported in the same quarter last year. The revenue growth was primarily fueled by a $3.5 million increase in sales to the municipal market, which the company attributed to infrastructure investment. The fire suppression, industrial, and petroleum markets also contributed to the gains. In a further sign of strength, Gorman-Rupp announced record incoming orders of $188 million, up 15.7% from the prior year, which suggested a positive outlook for the second half of the year. Is now the time to buy Gorman-Rupp? Access our full analysis report here, it's free. What Is The Market Telling Us Gorman-Rupp's shares are not very volatile and have only had 5 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 4 months ago when the stock dropped 5.1% after stocks gave back some of the gains from the previous day as the White House clarified the tariffs on imports from China would add up to 145%, while the baseline 10% tariffs remained in place for all countries. This reminded markets that the global trade environment remained volatile, limiting the potential for sustained gains. Also, President Trump said he was willing to accept pain in the short term, and was aware his policies could cause a recession, but he remained more mindful of a more severe case of economic depression (higher unemployment and prolonged downturn). For investors, this suggested that the administration could prioritize long-term structural shifts over near-term economic stability, further increasing policy-driven risk in the markets. Gorman-Rupp is up 11.2% since the beginning of the year, and at $41.46 per share, it is trading close to its 52-week high of $43.09 from November 2024. Investors who bought $1,000 worth of Gorman-Rupp's shares 5 years ago would now be looking at an investment worth $1,295. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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EU's Von der Leyen to Meet Trump in Bid to Clinch Trade Deal
(Bloomberg) -- European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as the two sides aim to conclude a trade deal ahead of an Aug. 1 deadline when 30% tariffs on the bloc's exports are otherwise due to kick in. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Trump Administration Sues NYC Over Sanctuary City Policy After months of talks and shuttle diplomacy between Brussels and Washington DC, the two sides have been zeroing in on an agreement this past week that would see the EU face 15% tariffs on most of its trade. Limited exemptions are expected for aviation, some medical devices and generic medicines, several spirits, and a specific set of manufacturing equipment that the US needs, Bloomberg previously reported. Steel and aluminum imports would likely benefit from a quota under the arrangements under discussion but above that threshold they would face a higher tariff of 50%. 'We'll see if we make a deal,' Trump said as he arrived in Scotland on Friday. 'Ursula will be here, highly respected woman. So we look forward to that.' Trump reiterated that he believed there was 'a 50-50 chance' of a deal with the EU, saying there were sticking points on 'maybe 20 different things' that he did not want to detail publicly. Trump gave similar odds in Washington before leaving, but also said the EU had a 'pretty good chance' of reaching an agreement. Trump announced tariffs on almost all US trading partners in April, declaring his intent to bring back domestic manufacturing, to pay for a massive tax-cut extension and to stop the rest of the world from taking advantage of the US. He has also sought to remove what he describes as barriers for American companies to do business around the world. Alongside a universal levy, the US president has hit cars and auto parts with a 25% levy, and steel and aluminum with double that. He's also threatened to target pharmaceuticals and semiconductors with new duties as early as next month, and recently announced a 50% tariff on copper. The EU has been seeking quotas and a ceiling on future sectoral tariffs that the US has yet to implement but it's unclear if an initial agreement will shield the bloc from potential future levies at this stage. The agreement would also cover non-tariff barriers, cooperation on economic security matters and strategic purchases by the EU in sectors such as energy and artificial intelligence. The terms of any initial deal, which is expected to take the form of a short joint statement, would need to be approved by member states, according to people familiar with the matter. The statement is seen as a stepping stone toward more detailed negotiations. Because of the ongoing uncertainty, the EU has in parallel put together countermeasures in the event of a no-deal scenario, which would see it quickly hit American exports with up to 30% tariffs on some €100 billion ($117 billion) worth of goods — including Boeing Co. aircraft, US-made cars and bourbon whiskey — in the event of no-deal and if Trump carries through with his threat to impose that rate on most of the bloc's exports after Aug. 1 or in future. The package also includes some export restrictions on scrap metals. In a no-deal scenario, the bloc is also prepared to move forward with its anti-coercion instrument, a potent trade tool that would eventually allow it to also target other areas such as market access, services and restrictions on public contracts, provided that there is a majority of member states backing its use. (Updates with Trump remarks in paragraphs 4-6.) Burning Man Is Burning Through Cash Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P.
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Breakthrough as Bayern Munich prepare IRRESISTIBLE offer for Luis Diaz
Liverpool's record-breaking transfer window shows no signs of slowing down. Having already added Florian Wirtz, Hugo Ekitike, Milos Kerkez, Jeremie Frimpong and Giorgi Mamardashvili - the Reds are pressing on with a bid for Alexander Isak. Richard Hughes has already overseen around £265m worth of spending - with more to come not only on Isak but perhaps a centre-back too. LFC x New Era Shop Now LFC Signed Merch Shop Now LFC x Titleist Shop Now To finance any further spending, it's likely that sales will be required. Liverpool have got the likes of Federico Chiesa, Ben Doak, Harvey Elliott and Tyler Morton potentially available for transfer this summer. But the two heavyweight departures who could go a long way towards guaranteeing Isak's arrival are Darwin Nunez and Luis Diaz. Bayern ready to sweeten Diaz deal Nunez, 26, has got interest from Saudi Arabia and could be on his way if Liverpool receive around £70m. Bayern Munich, meanwhile are the frontrunners for Diaz - with Liverpool thought to be holding out for €80m for their Colombian winger. The Bavarians have been reluctant to go that high - with the latest reports from BILD indicating that a deal reaching €75m could be sanctioned. However there is a crucial TWIST in Bayern's latest offer - according to the same source. In order to make up the shortfall, Bayern are now willing to insert a Saudi sell-on clause. Diaz is attracting interest from Al-Nassr this summer but would probably prefer to remain in Europe at this stage of his career. But should the 28-year-old opt to pursue a deal in the Saudi Pro League a little further down the line then Liverpool will be there to cash in. Bayern propose "Saudi sell-on" to Liverpool 'SPORT BILD learned: Before Liverpool FC left for their trip to Asia on Sunday, Diaz's agent Raúl Costa was in Liverpool for several days to negotiate and sound out the possibilities of a deal,' a report reads. 'Bayern Munich aren't willing to go as high as €80 million for a transfer fee. Internally, a threshold has been set for Díaz's transfer fee and salary. The transfer fee is expected to be around €75 million. 'However, various models are being discussed. One is to include a sell-on clause in Díaz's contract with Liverpool. 'This means that if he is sold to Saudi Arabia in, say, three years (Diaz is to receive a four-year contract), Liverpool can participate. The fact is: Bayern are very optimistic that the deal can be completed in the next 7 to 10 days!' And so we enter a crucial period for Diaz's future. If Bayern can get this deal over the line - it will add a crucial €75m to the mix for Isak. And then, if and when Diaz heads off to Saudi Arabia, the club will cash in again.
