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☆ Freetrade, Britain's answer to Robinhood, posted its first quarterly profit
▼ + stars: | 2024-04-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Freetrade reported adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of £100,000 ($124,863) in the first quarter of 2024, according to unaudited financial statements shared with CNBC. Freetrade still generated a loss of £8.3 million in 2023, down from the £28.8 million loss it racked up the year before. "We defied difficult market conditions and delivered healthy growth in 2023 while dramatically reducing losses" in 2022, said Adam Dodds, CEO and founder of Freetrade. Net inflows totalled £130 million in the first quarter, too, as retail investor activity grew in response to resurgent markets last year. Equity markets saw serious drops in 2022 as a result of macroeconomic uncertainty and higher interest rates stoked by Russia's full-fledged invasion of Ukraine, which triggered a risk-off trade around the world.

Persons: Rafael Henrique, Freetrade, Adam Dodds, who've, Dodds, we've, Russia's Organizations: Getty, CNBC, Freetrade, Equity Locations: Ukraine

COSTA MESA, Calif. (AP) — Joe Hortiz is going from assembling talent for John Harbaugh to leading the football operations with Jim Harbaugh. Hortiz has agreed to terms to become the Los Angeles Chargers general manager, a person familiar with the situation told The Associated Press. He started as an area scout in 1998 and has been the Ravens director of player personnel for seven seasons. New York Giants assistant GM Brandon Brown was the only other candidate to get a second interview. The other candidates interviewed were interim GM JoJo Wooden, Chicago Bears assistant GM Ian Cunningham, Buffalo Bills director of player personnel Terrance Gray, New Orleans Saints assistant GM Jeff Ireland, Indianapolis Colts assistant GM Ed Dodds, Chicago co-director of player personnel Jeff King and NFL chief football administrative officer Dawn Aponte.

Persons: Joe Hortiz, John Harbaugh, Jim Harbaugh, Hortiz, hasn’t, Hortiz —, Tom Telesco, Harbaugh, Hortiz's, Brandon Brown, Justin Herbert, Mike Williams, Keenan Allen, Khalil Mack, Joey Bosa, JoJo Wooden, Ian Cunningham, Terrance Gray, Jeff Ireland, Ed Dodds, Jeff King, Dawn Aponte, ___ Organizations: Los Angeles Chargers, Associated Press, NFL, Baltimore Ravens, Ravens, Chargers, AFC, Kansas City Chiefs, New York Giants, Bolts, Chicago Bears, Buffalo Bills, Terrance Gray , New Orleans Saints, Indianapolis Colts Locations: COSTA MESA, Calif, Baltimore, Los Angeles, Terrance Gray , New Orleans, Chicago

He will be the first former Chargers player to return to the team as head coach. The Chargers are the fourth of eight teams to fill their head coach job, following New England, Las Vegas and Tennessee. Manuel may promote Sherrone Moore to replace Harbaugh after the offensive coordinator filled in for him during the final three games of the regular season. Herbert will be playing for his fourth head coach and possibly fourth offensive coordinator in five seasons. Harbaugh became a first-time head coach at the University of San Diego in 2004 and left after three seasons to start a four-year run at Stanford.

Persons: — Jim Harbaugh, hasn’t, Harbaugh, Brandon Staley, Tom Telesco, Jan, Warde Manuel, Manuel, Sherrone Moore, Brady Hoke, Rich Rodriguez, Lloyd Carr, —, Justin Herbert, Herbert, Norv Turner, Marty Schottenheimer, Turner, Don Yee, Yee, Tom Brady —, Sean Payton, John, he’s, David Shaw, Leslie Frazier, Mike Vrabel, Dan Quinn, Raheem Morris, Steve Wilks, Todd Monken, Giff Smith, Kellen Moore —, Patrick Graham, Mike Macdonald, Ben Johnson, Aaron Glenn, Brian Callahan, JoJo Wooden, Brandon Brown, Joe Hortiz, Ian Cunningham, Terrance Gray, Jeff Ireland, Ed Dodds, Jeff King, Dawn Aponte, ___ Maaddi, Lage, ___ Organizations: Los Angeles Chargers, Associated Press, NFL, Chargers, Bolts, Raiders, Atlanta Falcons, Michigan, Ohio State Buckeyes, Wolverines, College Football, Alabama, Rose, AFC, Houston Oilers, Giants, Jets, Jaguars, Bowl, Denver, Minnesota Vikings, Broncos, Carolina Panthers, NFC, Indianapolis Colts, Pittsburgh, University of San, Stanford, 49ers, NCAA, Big, Buffalo Bills, Tennessee Titans, Dallas, Atlanta, Los Angeles Rams, Tampa Bay, San Francisco 49ers, Arizona, Baltimore Ravens, Las Vegas Raiders, Detroit Lions, Cincinnati Bengals, Nine, New York Giants, Terrance Gray , New Orleans Saints Locations: COSTA MESA, Calif, Michigan, Los Angeles, Las Vegas, New England, Las Vegas and Tennessee, Atlanta , Carolina, Seattle, Washington, Pasadena, San Francisco, Baltimore, University of San Diego, Minnesota, Atlanta, Carolina, Detroit, Tennessee, Chicago, Buffalo, Terrance Gray , New Orleans, Tampa , Florida

Morgan, who has spent the past three seasons as the Panthers' assistant GM, will oversee the personnel operation, the team announced. The team had requested interviews with eight candidates: Giants assistant GM Brandon Brown, Buccaneers assistant GM Mike Greenberg, Chiefs vice president of football operations Brandt Tilis, Eagles assistant GM Alec Halaby, Saints assistant GM Khai Harley, Ravens vice president of football administration Nick Matteo, Colts assistant GM Ed Dodds and Raiders interim GM Champ Kelly. He went on to work as director of player personnel for the Buffalo Bills before returning to the Panthers as assistant GM in 2021. A first-round draft pick in 2001, he helped the Panthers reach their first Super Bowl in 2003, anchoring the middle of the defense. He played seven seasons for Carolina set an NFL record with 25 tackles in the Panthers' Super Bowl loss to the New England Patriots on Feb. 1, 2004.

Persons: CHARLOTTE, Dan Morgan, Morgan, David Tepper, Scott Fitterer, Bryce Young, Dan, ” Tepper, ” Morgan, Tepper, Brandon Brown, Mike Greenberg, Brandt Tilis, Alec Halaby, GM Khai, Nick Matteo, Ed Dodds, Champ Kelly, Frank Reich, Matt Rhule, Ron Rivera, Chris Tabor, Steve Wilks, Perry Fewell, Ben Johnson, Frank Smith, Bobby Slowik, Dave Canales, Brian Callahan, Todd Monken, Dan Quinn, Raheem Morris, Mike Macdonald, Tabor, Ejiro Evero, Young, mightily, Sam Howell, Eddy Pineiro, ___ Organizations: The Carolina Panthers, Panthers, New York Jets, Giants, Buccaneers, Chiefs, Eagles, GM Khai Harley, Ravens, Colts, Raiders, Seattle Seahawks, Buffalo Bills, Carolina, New England Patriots, Pro, Lions, Dolphins, Cowboys, Rams, The Panthers, Cleveland Browns Locations: N.C, Alabama, Carolina

Now, hundreds of migrants from the Middle East and Africa have appeared at Finland's border from Russia, seeking entry into the Nordic country. They accuse Russia of driving the migrants to the border to sow discord as payback for Finland's membership in NATO. Finnish authorities quickly closed four checkpoints and then three more, leaving just one Arctic crossing point open for asylum-seekers. Finland also asked for help from EU border agency Frontex, which said it would send dozens of officers and equipment as reinforcements to the Finnish border. The Kremlin denies encouraging the migrants, and says it regrets the Finnish border closures.

Persons: Elina Valtonen, Petteri Orpo, Maria Zakharova, Valtonen, Russia’s, ”, Klaus Dodds, ” Dodds, Ylva Johansson, Sauli Niinistö, Alexander Lukashenko, Evika Siliņa, Siliņa, Lukashenko, Vladimir Putin, “, Geert Wilders, Orpo’s, Vanessa Gera Organizations: HELSINKI, —, NATO, Nordic, Associated Press, HOW, EU, Frontex, Russian Foreign Ministry, Royal Holloway, University of London, VU EU Home Affairs, Belarus —, Latvian, AP, Poland’s, Guard Locations: Finland, Russia, East, Africa, Syria, Yemen, Somalia, Iraq, Afghanistan, Finnish, FINLAND, Helsinki, Belarus, Europe, Moscow, Ukraine, Poland, Lithuania, Latvia, Baltic, Netherlands, Finns, Lapland, Murmansk, Warsaw

☆ The rise of electrification is fuelling our fanbase, says Formula E CEO
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe rise of electrification is fuelling our fanbase, says Formula E CEOJeff Dodds, CEO of Formula E — Formula 1's electric counterpart — gives his take on the growing popularity of the league and the surge in EVs worldwide.

Persons: Jeff Dodds Organizations: Formula E

☆ California says goodbye to junk fees — no more hidden charges that aren't advertised up-front
▼ + stars: | 2023-10-09 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

California governor Gavin Newsom has signed into law a new bill that outlaws hidden junk fees. The Consumer Financial Protection Bureau estimates that Americans spend at least $29 billion a year on junk fees. AdvertisementAdvertisementThe nonprofit watchdog Consumer Reports estimated in 2019 — based on a survey of more than 2,000 US adults — that 85% of Americans have been charged hidden junk fees. President Joe Biden has made combating junk fees a key priority for his administration since 2022. Biden said in July that "folks are tired of being played for suckers" as he announced measures cracking down on junk fees in the rental housing market.

Persons: Gavin Newsom, —, Sen, Bill Dodds, Nancy Skinner, Vicki Morwitz, Morwitz, Joe Biden, Biden Organizations: Consumer Financial, Service, NBC, SB, Consumer, Bureau, CBS, Columbia Business School Locations: California

As the players idled by the chain-link fence at the side of the field, taking great gulps of air and water and conducting an immediate autopsy of the game that had just finished, they focused their attention on three outstanding bones of contention. The first considered whether a penalty that had not been awarded absolutely should have been, as an aggrieved plaintiff was claiming. The second investigated if a particularly egregious foul was premeditated (yes) and/or warranted (also yes). Each player had to dig into wallets or pockets to find five pounds — just over $6 — to pay their share for the use of the field. As they strolled stiffly to the parking lot, the squabbling gave way to discussion of plans for the rest of the evening, and for next week.

Persons: stiffly

☆ Formula E's Hughes sets indoor world speed record
▼ + stars: | 2023-07-28 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

LONDON, July 28 (Reuters) - British Formula E driver Jake Hughes has smashed a world indoor speed record by hitting 218.71kph (135.9mph) inside London's ExCeL Centre in a modified version of the electric championship's Gen3 racecar. NEOM McLaren driver Hughes, who had three practice runs before his record attempt, warmed up with a run of 214.80kph before further runs of 215.05 and 217.65 through the speed trap. His record attempt was then clocked at 217.65kph. "I felt like I’ve never wanted anything more in my life than having a world record," he added. "It’s all about showcasing the potential of what an electric racing car can do," he told Reuters.

Persons: Jake Hughes, 218.71kph, Lucas di Grassi, Leh, NEOM McLaren, Hughes, Di Grassi, Briton, I’ve, Jeff Dodds, Alan Baldwin, Pritha Sarkar Organizations: Reuters, Porsche, New, New Orleans Convention, Guinness World Records, Mahindra, Thomson Locations: Docklands, U.S, New Orleans, 216.87kph

The Arctic Council was created in 1996 to discuss issues affecting the polar region, ranging from pollution to local economic development to search-and-rescue missions. The Arctic Council comprises the eight Arctic states of Russia, the United States, Canada, Finland, Norway, Iceland, Sweden and Denmark. Russia's possible degree of involvement with the Council once Norway takes over is still unclear. Russian Foreign Minister Sergei Lavrov had earlier extended an invitation to Arctic officials to attend a transition ceremony in Salekhard, Siberia. Russian Arctic Ambassador Nikolay Korchunov, chair of the Senior Arctic Officials on the council, told Reuters the transition would "presuppose active and responsible participation of all Arctic Council member states in this preparatory process."

☆ Investor who predicted Credit Suisse decline says Swiss banking model is 'damaged'
▼ + stars: | 2023-03-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestor who predicted Credit Suisse decline says Swiss banking model is 'damaged'Richard-Mark Dodds, chief investment officer of Swiss fund manager Pure Value Metrics, who had previously predicted that Credit Suisse was bound to require government support now believes the entire Swiss banking business model is "damaged."

☆ 'Never been so cheap': Fund manager explains why he loves shipping stocks right now
▼ + stars: | 2022-12-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

There are a host of reasons to consider investing in shipping companies, according to Pure Value Metrics' Richard-Mark Dodds, who said many of the stocks had attractive entry points. It's in contrast to the bumper year of 2007, Dodds said, when ship owners mistakenly expanded their shipping fleets instead. Buy-rated shipping stocks CNBC Pro screened for stocks in the shipping sector that could offer opportunities to investors. Shipping fleet 'becoming more valuable' Meanwhile, Dodds pointed toward another trend that could boost earnings: a reluctance by shipping owners to buy new vessels over environmental concerns. "The [existing] shipping fleet is becoming more valuable as time goes by because fewer ships are being built."

☆ Apple vs. Microsoft? One outperforming fund manager picks his favorite — and explains why
▼ + stars: | 2022-12-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Apple The Switzerland-based fund manager says Apple's shares have performed relatively better than Microsoft's because it has spent $90 billion buying back shares in the last financial year, compared to Microsoft's $30 billion of buybacks. Dodds believes this masks underlying weaknesses in Cupertino-headquartered Apple's business. Microsoft On the other hand, Dodds highlighted steps that Microsoft is taking that make it a better investment. Whereas Dodds said Apple relies on a handful of highly profitable revenue streams to keep up growth. "They rely a lot on the consumer continuing to convince themselves that an Apple 14 is a must have over an Apple 13."

☆ Apple vs. Microsoft? Outperforming fund manager says there's a clear winner
▼ + stars: | 2022-12-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple vs. Microsoft? Outperforming fund manager says there's a clear winnerRichard-Mark Dodds, chief investment officer at Pure Value Metrics, thinks the choice is clear between Apple and Microsoft. As one of the companies spends money on share buybacks, the other is making investments to further its business, he said.

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