Turnberry presents 'logistical challenges' for Open return, says R&A CEO
As usual, there appear to be plenty of options – and just as many questions.
Advertisement
In his first State of the R&A press conference since taking over the CEO role late last year, Mark Darbon fielded questions about the viability of at least three highly regarded courses – Turnberry, Muirfield and Portmarneck – with an open date on the calendar looming.
But, once again, it was Turnberry that was the most talked-about venue in the R&A's annual presser.
Lauded as possibly the best course in the Open rota, Turnberry hasn't hosted the game's oldest championship since 2009. It underwent a significant renovation as well as a change in ownership, with President Donald Trump now at the helm.
During his tenure, Darbon's predecessor, Martin Slumbers, was insistent that he would not bring an Open back to Turnberry because he was not confident that the focus would be on the competition.
Advertisement
Darbon on Wednesday pointed more to the logistical challenges that the site presents, including the rail system and accommodations nearby.
'I think we've been extremely clear on our position in respect to Turnberry,' Darbon said. 'We love the golf course, but we've got some big logistical challenges there. You see the scale of the setup here, and we've got some work to do on the road, rail and accommodation infrastructure around Turnberry.
'We've explicitly not taken it out of our pool of venues, but we'd need to address those logistical challenges should we return.'
When asked specifically about Trump, Darbon said that he met a few months ago with Trump's son, Eric, and other leaders from the organization to discuss some of the challenges that remained.
Advertisement
Of how Trump's ownership affected the decision, Darbon said, 'It's a somewhat hypothetical question in that unless we address the logistical challenges, it's difficult for us to go back.'
Darbon was also pressed about Muirfield, which last hosted an Open in 2013. He said the R&A continues to work with the club on some of its outstanding issues around staging a modern Open, such as the practice grounds and the production cabling. Darbon said he was 'open minded to solutions,' such as using the practice area of neighboring Renaissance Club, site of last week's Scottish Open.
'It's a good dialogue,' he said, 'and we'd love to be back there in the future.'
With the Open's return to Royal Portrush for the second time in six years – after a 68-year absence – Darbon said that the organization is also seriously exploring the possibility of taking the event outside the borders of the United Kingdom for the first time, at Portmarnock in Ireland.
Advertisement
It isn't just the venue for the 2028 Open that remains unclear. The dates for the event are also not confirmed, with the Los Angeles Olympics in mid-July complicating the timing. Darbon said he expects an announcement on the dates in the next few months.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 minutes ago
- Yahoo
Coca-Cola says it appreciates Trump's 'enthusiasm' after president says company will use real sugar in drinks
Coca-Cola (KO) appears set to be the latest food and beverage company to make ingredient changes under the Trump administration. On Wednesday, President Trump took to social media, saying 'I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so.' In a statement posted online, Coca-Cola said, 'We appreciate President Trump's enthusiasm for our iconic Coca‑Cola brand. More details on new innovative offerings within our Coca‑Cola product range will be shared soon.' The company is set to report quarterly earnings on July 22. Shares of the company were little-changed early Thursday. Asked about "general health and wellness considerations" at a recent conference, Coke CFO John Murphy said, "It's one that we've wrestled with. We've at times embraced and at times, not done a great job, honestly, over our long history." Currency, Coca-Cola uses high fructose corn syrup (HFCS) — a cheaper alternative to sugar — to sweeten its soda. Coca-Cola and PepsiCo (PEP) are the largest buyers of the sugar replicant in the country, tying HFCS producers' fortunes closely to the two beverage makers' production lines. Archer-Daniels-Midland (ADM), one of the country's leading HFCS providers, fell more than 2.7% in pre-market trading. Shares in Ingredion (INGR), another leading corn syrup supplier, fell more than 5% early Thursday. The sugar market, on the other hand, has reacted positively to the pronouncement as it eyes what would likely be a major contract from the seller of the most popular soft drink in the world. The contract price on Sugar No. 11, the global benchmark futures contract for raw sugar trading, was up more than 1.3% on the news. The Teucrium Sugar Fund (CANE), a commodities-focused ETF that is intended to provide investors with exposure to sugar futures, was up more than 1% early Thursday. Seaboard Corporation (SEB) and Bunge Global SA (Q23.F), two of the country's major sugar importers and producers, remained relatively flat Thursday morning, up less than 1% and down less than 1%, respectively. The move from the Trump administration also comes as the president continues his tariff negotiations. Brazil, which produces a little less than a quarter the world's sugar cane, making it the top global producer, is currently facing a 50% tariff on goods from the country to the US starting in August. The US has not yet announced a tariff rate for India, the second largest producer. China, the third largest sugar producer, currently has a 30% tariff in place. Coca-Cola appears set to join a growing list of big food peers to announce ingredient changes, including Kraft Heinz (KHC), General Mills (GIS), and Nestlé USA, among others. On Thursday morning, Coca-Cola rival PepsiCo (PEP) was asked about cleaner ingredients on its quarterly earnings call. "We have road map to eliminate artificial colors and artificial flavors from our beverages the same as we do for our food business," CEO Ramon Laguarta said, "we'll be able to execute as the regulations evolve, or consumer preference evolve." PepsiCo stock was up as much as 5% after the company reported results that topped forecasts. Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@ Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at
Yahoo
11 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures edge higher as earnings roll in, retail sales jump
US stock futures were muted on Thursday as Wall Street filtered through a fresh wave of earnings but stayed wary for the next move in President Trump's campaign to oust Federal Reserve chief Jerome Powell. Dow Jones Industrial Average futures (YM=F) were roughly flat, while those on the S&P 500 (ES=F) traded 0.2% higher. Contracts on the Nasdaq 100 (NQ=F) rose 0.3% on the heels of another record-setting session for tech stocks. The major US indexes are consolidating near record highs as investors navigate a plethora of catalysts, including earnings, economic data, President Trump's tariffs, and the president's displeasure with the Fed's stance on interest rates. Retail sales rebounded in June, an indication that Trump's tariffs are not significantly impacting consumer spending habits yet. The reading serves as another snapshot of the health of the US consumer — who big banks so far this earnings season say seem to be doing just "fine." In earnings, TSMC (TSM) posted record quarterly profit early on Thursday, citing stronger and stronger AI demand. The Nvidia supplier's shares popped as its results boosted other chipmaker stocks. Meanwhile, PepsiCo (PEP) reported a surprise rise in revenue and lowered its forecast drop in 2025 profit. Read more: Full earnings coverage in our live blog But Netflix (NFLX) is the highlight of Thursday's docket, as kicks off this season's Big Tech earnings reports with results due after the bell. The streaming giant's shares are on a tear so far this year. On the backburner for now are Trump's renewed threats to attempt to fire Powell, which sparked a stock selloff at one point on Wednesday. While the president said he was "not planning" to do so, he has spent months excoriating Powell and the Fed's lack of appetite for interest-rate cuts. Investor bets suggest Trump is likely to remain disappointed after the central bank's meeting in two weeks, as nearly 100% of traders expect a rate hold amid mixed signals on inflation. Several Fed officials are scheduled to speak on Thursday, which could move the needle. Meanwhile, the dollar (DX=F) continued to climb out of the trough it fell into as the prospect of Powell's removal rattled markets. Read more: The latest on Trump's tariffs Trending tickers in premarket trading: TSMC, Opendoor, Pepsi, GE Aerospace, Netflix Here are some of the most notable movers in premarket trading as more second quarter earnings roll in: Check out more trending tickers here. Retail sales rise more than expected in June Yahoo Finance's Josh Schafer reports: Read more here. Pepsi stock rises on better-than-expected earnings PepsiCo (PEP) stock rose 2% after the company reported better-than-expected quarterly results. Pepsi still expects a drop in annual profit, though not as severe as it expected previously. It sees its full-year core earnings per share falling 1.5% instead of the 3% previously forecast. The Gatorade and Lay's maker benefited from favorable foreign exchange rates and greater demand for energy drinks and healthier soda brands, like its prebiotic soda brand Poppi. For the quarter, Pepsi's adjusted earnings per share were $2.12 on revenue of $22.7 billion. Read more here or listen to Pepsi's earnings call live on its stock ticker page. TSMC stock pops 3% on record quarterly earnings Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit on Thursday, sending the stock 3% higher in premarket trading. The company reported net profit of 398.3 billion new Taiwan dollars ($13.5 billion), an increase of more than 60% year over year. TSMC, which is Nvidia's (NVDA) primary chip manufacturer, said that artificial intelligence demand was growing and raised its sales outlook for the third quarter and full year. In a policy reversal, Nvidia has been allowed to resume sales of its H20 chip in China, which could help it recoup as much as $15 billion in revenue. Nvidia shares were up half a percent on Thursday morning. "China is a big market, and my customer can continue to supply the chip to the big market," TSMC CEO C.C. Wei said at a press conference. "It's very positive news for them, and in return, it's very positive news for TSMC." While TSMC has not seen changes in customers' behavior so far, it cautioned that tariffs could affect income in the fourth quarter. Netflix earnings on deck: What Wall Street is watching Netflix (NFLX) is set to report second quarter earnings after the bell on Thursday. Shares have soared about 40% since the start of the year, with the stock's valuation a top debate on Wall Street as the streamer doubles down on live events and sports content. Yahoo Finance's Allie Canal reports on what to expect: Read more here. United Airlines stock slides in wake of fresh profit guidance United Airlines shares fell in premarket after the US carrier reset its full-year profit outlook, saying travel demand has picked up thanks to an easing in economic and geopolitical uncertainty. The airline now expects to post adjusted profit of $9 to $11 a share for 2025, compared with Wall Street expectations for $10.04 a share. "United saw a positive shift in demand beginning in early July, and, like 2024, anticipates another inflection in industry supply in mid-August," United CEO Scott Kirby said in a company statement. "The world is less uncertain today than it was during the first six months of 2025 and that gives us confidence about a strong finish to the year," he added. But United's revised guidance still undershot the range of $11.50 to $13.50 a share that it laid out at the start of the year. In April, the company issued two sets of profit outlooks based on whether the US fell into recession, with a range of $7 to $9 a share in the worse scenario. At the same time, it flagged it still might meet its higher target. Profit in the second quarter beat estimates, but its revenue growth fell short. Read more on United's earnings here, from Reuters. TSMC profits soar over 60% in Q2, notching all time high Taiwan Semiconductor Manufacturing Co. (TSM), the global leader in contract chip production, delivered a blockbuster second quarter. It reported net profit of T$398.3 billion ($13.53 billion), a 60.7% year-over-year surge that shattered analyst expectations and marked an all-time high for the company. TSMC's robust momentum comes as tech giants like Apple (AAPL) and Nvidia (NVDA) ramp up chip orders to support AI advancements and next-gen devices. Shares in the chip giant closed at $237.56 on Thursday, up 0.3%, before jumping more than 5.6% in overnight trading, pushing past $250 before steadying. Oil prices bounce back from early week losses Oil prices rose overnight Wednesday despite recent fears of oversupply by OPEC+ producers. Reuters reports: Read more here. Trending tickers in premarket trading: TSMC, Opendoor, Pepsi, GE Aerospace, Netflix Here are some of the most notable movers in premarket trading as more second quarter earnings roll in: Check out more trending tickers here. Here are some of the most notable movers in premarket trading as more second quarter earnings roll in: Check out more trending tickers here. Retail sales rise more than expected in June Yahoo Finance's Josh Schafer reports: Read more here. Yahoo Finance's Josh Schafer reports: Read more here. Pepsi stock rises on better-than-expected earnings PepsiCo (PEP) stock rose 2% after the company reported better-than-expected quarterly results. Pepsi still expects a drop in annual profit, though not as severe as it expected previously. It sees its full-year core earnings per share falling 1.5% instead of the 3% previously forecast. The Gatorade and Lay's maker benefited from favorable foreign exchange rates and greater demand for energy drinks and healthier soda brands, like its prebiotic soda brand Poppi. For the quarter, Pepsi's adjusted earnings per share were $2.12 on revenue of $22.7 billion. Read more here or listen to Pepsi's earnings call live on its stock ticker page. PepsiCo (PEP) stock rose 2% after the company reported better-than-expected quarterly results. Pepsi still expects a drop in annual profit, though not as severe as it expected previously. It sees its full-year core earnings per share falling 1.5% instead of the 3% previously forecast. The Gatorade and Lay's maker benefited from favorable foreign exchange rates and greater demand for energy drinks and healthier soda brands, like its prebiotic soda brand Poppi. For the quarter, Pepsi's adjusted earnings per share were $2.12 on revenue of $22.7 billion. Read more here or listen to Pepsi's earnings call live on its stock ticker page. TSMC stock pops 3% on record quarterly earnings Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit on Thursday, sending the stock 3% higher in premarket trading. The company reported net profit of 398.3 billion new Taiwan dollars ($13.5 billion), an increase of more than 60% year over year. TSMC, which is Nvidia's (NVDA) primary chip manufacturer, said that artificial intelligence demand was growing and raised its sales outlook for the third quarter and full year. In a policy reversal, Nvidia has been allowed to resume sales of its H20 chip in China, which could help it recoup as much as $15 billion in revenue. Nvidia shares were up half a percent on Thursday morning. "China is a big market, and my customer can continue to supply the chip to the big market," TSMC CEO C.C. Wei said at a press conference. "It's very positive news for them, and in return, it's very positive news for TSMC." While TSMC has not seen changes in customers' behavior so far, it cautioned that tariffs could affect income in the fourth quarter. Taiwan Semiconductor Manufacturing Company (TSM) posted a record quarterly profit on Thursday, sending the stock 3% higher in premarket trading. The company reported net profit of 398.3 billion new Taiwan dollars ($13.5 billion), an increase of more than 60% year over year. TSMC, which is Nvidia's (NVDA) primary chip manufacturer, said that artificial intelligence demand was growing and raised its sales outlook for the third quarter and full year. In a policy reversal, Nvidia has been allowed to resume sales of its H20 chip in China, which could help it recoup as much as $15 billion in revenue. Nvidia shares were up half a percent on Thursday morning. "China is a big market, and my customer can continue to supply the chip to the big market," TSMC CEO C.C. Wei said at a press conference. "It's very positive news for them, and in return, it's very positive news for TSMC." While TSMC has not seen changes in customers' behavior so far, it cautioned that tariffs could affect income in the fourth quarter. Netflix earnings on deck: What Wall Street is watching Netflix (NFLX) is set to report second quarter earnings after the bell on Thursday. Shares have soared about 40% since the start of the year, with the stock's valuation a top debate on Wall Street as the streamer doubles down on live events and sports content. Yahoo Finance's Allie Canal reports on what to expect: Read more here. Netflix (NFLX) is set to report second quarter earnings after the bell on Thursday. Shares have soared about 40% since the start of the year, with the stock's valuation a top debate on Wall Street as the streamer doubles down on live events and sports content. Yahoo Finance's Allie Canal reports on what to expect: Read more here. United Airlines stock slides in wake of fresh profit guidance United Airlines shares fell in premarket after the US carrier reset its full-year profit outlook, saying travel demand has picked up thanks to an easing in economic and geopolitical uncertainty. The airline now expects to post adjusted profit of $9 to $11 a share for 2025, compared with Wall Street expectations for $10.04 a share. "United saw a positive shift in demand beginning in early July, and, like 2024, anticipates another inflection in industry supply in mid-August," United CEO Scott Kirby said in a company statement. "The world is less uncertain today than it was during the first six months of 2025 and that gives us confidence about a strong finish to the year," he added. But United's revised guidance still undershot the range of $11.50 to $13.50 a share that it laid out at the start of the year. In April, the company issued two sets of profit outlooks based on whether the US fell into recession, with a range of $7 to $9 a share in the worse scenario. At the same time, it flagged it still might meet its higher target. Profit in the second quarter beat estimates, but its revenue growth fell short. Read more on United's earnings here, from Reuters. United Airlines shares fell in premarket after the US carrier reset its full-year profit outlook, saying travel demand has picked up thanks to an easing in economic and geopolitical uncertainty. The airline now expects to post adjusted profit of $9 to $11 a share for 2025, compared with Wall Street expectations for $10.04 a share. "United saw a positive shift in demand beginning in early July, and, like 2024, anticipates another inflection in industry supply in mid-August," United CEO Scott Kirby said in a company statement. "The world is less uncertain today than it was during the first six months of 2025 and that gives us confidence about a strong finish to the year," he added. But United's revised guidance still undershot the range of $11.50 to $13.50 a share that it laid out at the start of the year. In April, the company issued two sets of profit outlooks based on whether the US fell into recession, with a range of $7 to $9 a share in the worse scenario. At the same time, it flagged it still might meet its higher target. Profit in the second quarter beat estimates, but its revenue growth fell short. Read more on United's earnings here, from Reuters. TSMC profits soar over 60% in Q2, notching all time high Taiwan Semiconductor Manufacturing Co. (TSM), the global leader in contract chip production, delivered a blockbuster second quarter. It reported net profit of T$398.3 billion ($13.53 billion), a 60.7% year-over-year surge that shattered analyst expectations and marked an all-time high for the company. TSMC's robust momentum comes as tech giants like Apple (AAPL) and Nvidia (NVDA) ramp up chip orders to support AI advancements and next-gen devices. Shares in the chip giant closed at $237.56 on Thursday, up 0.3%, before jumping more than 5.6% in overnight trading, pushing past $250 before steadying. Taiwan Semiconductor Manufacturing Co. (TSM), the global leader in contract chip production, delivered a blockbuster second quarter. It reported net profit of T$398.3 billion ($13.53 billion), a 60.7% year-over-year surge that shattered analyst expectations and marked an all-time high for the company. TSMC's robust momentum comes as tech giants like Apple (AAPL) and Nvidia (NVDA) ramp up chip orders to support AI advancements and next-gen devices. Shares in the chip giant closed at $237.56 on Thursday, up 0.3%, before jumping more than 5.6% in overnight trading, pushing past $250 before steadying. Oil prices bounce back from early week losses Oil prices rose overnight Wednesday despite recent fears of oversupply by OPEC+ producers. Reuters reports: Read more here. Oil prices rose overnight Wednesday despite recent fears of oversupply by OPEC+ producers. Reuters reports: Read more here. 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
Yahoo
11 minutes ago
- Yahoo
Retail sales rise more than expected in June
Retail sales rebounded in June, an indication that President Trump's tariffs are not significantly impacting consumer spending habits yet. Headline retail sales rose 0.6% in June, above economists' expectations for a 0.1% increase month on month. By comparison, sales decreased 0.9% in May, according to revised Census Bureau data. The control group in Thursday's release, which excludes several volatile categories and factors into the gross domestic product (GDP) reading for the quarter, rose 0.5%. That compares with a 0.2% increase seen in May. Economists expected a 0.3% increase. June sales excluding auto and gas increased 0.6%. Economists had expected a 0.3% rise. In May, sales excluding auto and gas were flat. A 1.8% increase in miscellaneous store retailers and a 1.2% gain in motor vehicle and parts dealer sales led the gains in June. Also out Thursday morning, data from the Department of Labor showed 221,000 initial jobless claims were filed in the week ending July 12. After picking up in May, weekly filings for unemployment claims are now at their lowest level in three months. The release comes as investors have held their bets on Federal Reserve interest rate cuts steady despite data out earlier this week that showed signs of sticky inflation. As of Thursday morning investors were pricing in a 54% chance the central ban cuts interest rates by its September meeting, down from a roughly 70% chance seen just last week, according to the CME FedWatch Tool. Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. 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
