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Pathstone Holdings LLC lessened its stake in ResMed Inc. ( NYSE:RMD – Free Report ) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,473 shares of the medical equipment provider’s stock after selling 468 shares during the period. Pathstone Holdings LLC’s holdings in ResMed were worth $4,021,000 at the end of the most recent reporting period. Several other hedge funds have also made changes to their positions in the stock. UMB Bank n.a. lifted its stake in shares of ResMed by 1.9% in the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after buying an additional 47 shares during the period. QRG Capital Management Inc. lifted its stake in shares of ResMed by 4.5% in the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 56 shares during the period. Inspire Advisors LLC lifted its stake in shares of ResMed by 1.9% in the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after buying an additional 56 shares during the period. Concurrent Investment Advisors LLC lifted its stake in ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after purchasing an additional 57 shares during the period. Finally, Moss Adams Wealth Advisors LLC lifted its stake in ResMed by 2.0% during the third quarter. Moss Adams Wealth Advisors LLC now owns 3,043 shares of the medical equipment provider’s stock worth $743,000 after purchasing an additional 60 shares during the period. Institutional investors own 54.98% of the company’s stock. Analyst Upgrades and Downgrades RMD has been the subject of a number of analyst reports. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, KeyCorp raised their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.70. Insiders Place Their Bets In other news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. This trade represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink . Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here . In the last 90 days, insiders sold 62,174 shares of company stock valued at $14,882,278. Company insiders own 0.71% of the company’s stock. ResMed Stock Performance Shares of ResMed stock opened at $243.78 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm has a market cap of $35.79 billion, a P/E ratio of 32.29, a P/E/G ratio of 1.77 and a beta of 0.69. The firm has a 50 day simple moving average of $241.86 and a 200 day simple moving average of $224.47. ResMed Inc. has a fifty-two week low of $151.95 and a fifty-two week high of $260.49. ResMed ( NYSE:RMD – Get Free Report ) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $1.64 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that ResMed Inc. will post 9.28 earnings per share for the current fiscal year. ResMed Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is presently 28.08%. ResMed Company Profile ( Free Report ) ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights. Featured Stories Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter .
Los Alamos Chief Engineer Joins Nuclear Fusion Startup Fuse to Lead Federal Business
Nvidia, Netflix Lead Market Cap Stock Movers on MondayEXCLUSIVE: One of Japan ‘s leading talent agencies is betting big on short-form drama. Yoshimoto Kogyo , which reps some of the nation’s biggest comedians and actors, has joined with Fany Corporation on a new vertical short drama app titled Fany D – kicking off with 15 projects and targeting 50 per year. Audiences can watch an initial set of one-to-three minute drama series for free but have to pay if they want to watch more. The app’s creators will seek to turn some projects into webtoons and longer TV dramas. Yoshimoto has tied with Fany Corp , NTT Docomo Studio, and Live Inc. and Minto Inc on the short projects. Yoshimoto talent including Hoshida Hidetoshi, Cocorico Tanaka Naoki, Robert Yamamoto Hiroshi, Fruit Punch Murakami Takeshi, Hyokkorihan, Nelsons Wada Manju, Kawaretei Iwakura and Soitsu Doitsu Ichikawa Sashimi appear in the initial works. Projects include the likes of Stolen Life: The Other Me, Immoral – the Real Identity of Popular Model is the Devil and Apparently I’m having an Affair... about an amnesia sufferer who can’t work out if he’s cheated on his wife. Fany D comes four years after Jeffrey Katzenberg’s short-form bet Quibi shut down. The well-trailed platform made a range of short-form dramas and unscripted shows with talent like Idris Elba, Reese Witherspoon and Jennifer Lopez but failed to catch on, partly due to the unfortunate timing of launching as an on-the-go streamer at the start of the pandemic when the world ceased being able to travel. Four years on, Fany also said it is developing an AI technology that will allow it to create new original shorts inspired by comedians and localize them overseas. The move could create an additional revenue stream for one of Japan’s oldest talent agencies. Yoshimoto CEO Akihiko Okamoto praised the “vertically integrated” nature of the Fany D app, allowing Yoshimoto talent the opportunity to star in short projects and for the agency to develop IP further down the line. Okamoto recently spoke alongside Amazon international originals boss James Farrell at MIPCOM about LOL: Last One Laughing, the hit Amazon format that originated with Yoshimoto titled Documental . LOL: Last One Laughing is now in 20 territories including the UK, Ireland, South Africa and Australia, hosted around the world by the likes of Trevor Noah, Rebel Wilson and Graham Norton. Okamoto told us talks with U.S. buyers are ongoing. Yoshimoto is also behind slapstick gameshow comedy Freeze, a recent Deadline Global Breakout .
No. 7 Tennessee 36, Vanderbilt 23A vegetarian diet seems unusual at best and anti-patriotic at worst to many folks. But I haven’t eaten red meat since 1980, and I’ve been able to accrue a whole lotta benefits from my decision to focus on eating plants — and so has the planet. Here’s the story of my journey to being a vegetarian, told at a time of year when we give thanks for the gifts bestowed on us. “We are the earth, made of the same stuff; there is no other, no division between us and ‘lower’ or ‘higher’ forms of being.” — Estella Lauder I am a Vietnam War child. I was part of the first youth group to view war through a television screen. I saw young people drafted and shipped to a faraway land that had no personal or political meaning for them. Protests connected the essential precious life we are given to the natural world around us, and texts like Rachel Carson’s Silent Spring and The Sea around Us spoke to me as an integral part of my identity formation. I came to understand that humans are one with the Earth — that we share ecosystems and life forces. I became a tree hugger, an eco-warrior, eco-nut, eagle freak — these derogatory terms for living in ways connected to the planet didn’t faze me. They empowered me. “What we most need to do is to hear within us the sound of the Earth crying.” — Thich Nhat Hanh When I was twelve years old, I was seated at the periphery of a group of older female relatives who were bemoaning the discovery of breast cancer in our aunt. It was a time before pre-screenings; my aunt was diagnosed with stage four, terminal. I swore I would never be someone who was susceptible to cancer and began to look into its causes. There I was in the 1970s, and the meat-processing industry was denying how chemicals like nitrates and nitrites react with meat and form cancer-causing compounds. The health risks weren’t important to these meat producers, as using these additives made curing cheaper and quicker, extended shelf life, and gave meat a pleasing pink color. I announced that I wanted to be a vegetarian; my mother said that, as long as I ate in her house, I would eat what she cooked. Meat, canned vegetables, and a potato it was. Since this time I learned that vegetarians have 14% lower cancer risk than meat-eaters. “What is the good of your stars and trees, your sunrise and the wind, if they do not enter into our daily lives?” – E.M. Forster In a few years I became a first-generation college student. On my own financially, I found a sporadic income source working in bars and restaurants as I figured out college. Soon I was lining up bar pour glasses, churning blenders with exotic frozen drinks, and rolling kegs. At one point I worked for a very kind family who happened to be vegetarians. Yes! I announced that I was going to join them in renouncing meat. Feeling responsible for my decision, they asked me to read a book titled Protein for Vegetarians . (I see now that the author is questioned for “pseudo-scientific” methodology.) Ah, I soon learned it was going to take a lot more than saying No to Meat in order to eat healthy. I continue to seek out protein every day of my life and take vitamin B12, too. “Realize that everything connects to everything else.” ― Leonardo Da Vinci In my 20s I came to understand the appalling treatment that animals receive in the industrial agriculture system. Cattle, pigs, and poultry are managed in Concentrated Animal Feeding Operations (CAFOs). Many of these animals remain their entire lives in cages with little to no room to move. The Union of Concerned Scientists has criticized such practices. As a vegetarian, I have made a conscious and ethical choice to live in a way that reflects values of compassion, respect for animals, sustainability, and social justice. It makes me a more critical thinker, as I examine my consumer choices and the impact they have on the lives of animals, the environment, and other humans. “Our relationship with nature is more one of being than having. We are nature: we do not have nature.” — Steven Harper Yes, I stuck to a vegetarian diet across the decades. Sometimes I did eat seafood or chicken, trying to adapt to a partner’s diet. Pressure to eat meat was profound — countries like the US, UAE, and Brazil make up the top 20 meat-consuming countries in the world , consuming more than 160 kg of meat per person per year. According to Our World in Data , half of the world’s habitable land is used for agriculture, with most of this used to raise livestock for dairy and meat. Livestock are fed from two sources – lands on which the animals graze and land on which feeding crops, such as soy and cereals, are grown. If everyone shifted to a plant-based diet, we would reduce global land use for agriculture by 75% due to a reduction in land used for grazing and a smaller need for land to grow crops. For the last decade I’ve been a lacto-ovo vegetarian — a bit of dairy and eggs, the rest plants. “Nature is the source of all true knowledge.” – Leonardo da Vinci The 21st century was a time that raised our consciousness about the need to reduce burning fossil fuels and power our world with renewables. Additionally, we became aware that reducing emissions takes place along various parts of the supply chain . Compared to plant-based proteins including beans and legumes, beef is responsible for some 20 times more emissions per edible gram of protein . Switching to a plant-based diet can reduce an individual’s annual carbon footprint by up to 2.1 tons with a vegan diet or up to 1.5 tons for vegetarians. I learned that my vegetarian diet dramatically cut greenhouse gas emissions. “In a real sense all life is inter-related. All are caught in an inescapable network of mutuality, tied in a single garment of destiny. Whatever affects one directly, affects all indirectly. I can never be what I ought to be until you are what you ought to be, and you can never be what you ought to be until I am what I ought to be... This is the inter-related structure of reality.” ― Martin Luther King Jr., “Letter from Birmingham Jail” I began to model what plant-based eating looks like for family and friends — olive oil butter, vegan bacon, soy milk, dark green vegetables. I held dinner parties and served intricate vegetable main dishes like vegan jambalaya, vegetarian mushroom Wellington, vegan sausage and rice casserole, vegan cream of carrot soup, and so many more. I am now a climate activist, drawing upon my experiences of being a vegetarian to guide my path toward sustainability. As I write, I hope that you, too, will consider choosing plant-based meals whenever possible. “Wonderful how completely everything in wild nature fits into us, as if truly part and parent of us. The sun shines not on us, but in us. The rivers flow not past, but through us, thrilling, tingling, vibrating every fiber and cell of the substance of our bodies, making them glide and sing.” — John Muir CleanTechnica's Comment Policy LinkedIn WhatsApp Facebook X Email Mastodon Reddit
Stifel Financial Corp. ( NYSE:SF – Get Free Report ) has been given a consensus rating of “Hold” by the seven ratings firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $103.17. A number of equities research analysts have recently commented on the company. TD Cowen raised their target price on Stifel Financial from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. StockNews.com lowered Stifel Financial from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their target price on Stifel Financial from $113.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. JMP Securities lifted their price target on shares of Stifel Financial from $105.00 to $110.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Finally, Citigroup upped their price objective on shares of Stifel Financial from $90.00 to $102.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Read Our Latest Analysis on SF Insiders Place Their Bets Institutional Trading of Stifel Financial Several institutional investors have recently made changes to their positions in SF. FMR LLC increased its stake in Stifel Financial by 18.8% during the third quarter. FMR LLC now owns 7,956,412 shares of the financial services provider’s stock worth $747,107,000 after acquiring an additional 1,256,595 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Stifel Financial by 78.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,958,709 shares of the financial services provider’s stock worth $183,923,000 after purchasing an additional 860,465 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Stifel Financial by 929.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 296,574 shares of the financial services provider’s stock valued at $24,957,000 after buying an additional 267,777 shares during the period. Icon Wealth Advisors LLC acquired a new position in Stifel Financial in the third quarter valued at about $12,290,000. Finally, Renaissance Technologies LLC purchased a new position in Stifel Financial during the second quarter worth about $7,415,000. Hedge funds and other institutional investors own 82.01% of the company’s stock. Stifel Financial Stock Up 1.1 % Stifel Financial stock opened at $116.22 on Friday. Stifel Financial has a 52 week low of $60.17 and a 52 week high of $118.12. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 21.02 and a beta of 1.08. The business’s 50-day moving average price is $102.16 and its 200 day moving average price is $89.57. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 0.27. Stifel Financial ( NYSE:SF – Get Free Report ) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.10). The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. Stifel Financial had a net margin of 12.98% and a return on equity of 14.92%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, sell-side analysts anticipate that Stifel Financial will post 6.44 earnings per share for the current year. Stifel Financial Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.42 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 1.45%. Stifel Financial’s payout ratio is currently 30.38%. About Stifel Financial ( Get Free Report Stifel Financial Corp., a financial services and bank holding company, provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States and internationally. It operates in three segments: Global Wealth Management, Institutional Group, and Other. Read More Receive News & Ratings for Stifel Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stifel Financial and related companies with MarketBeat.com's FREE daily email newsletter .Tom Brady aims dig at Bill Belichick amid Fox Sports 'bullying' clip
Central 1 reports 2024 third quarter financial resultsWEST PALM BEACH, Fla. (AP) — Canadian Prime Minister Justin Trudeau returned home Saturday after his meeting with Donald Trump without assurances the president-elect will back away from threatened tariffs on all products from the major American trading partner. Trump called the talks “productive” but signaled no retreat from a pledge that Canada says unfairly lumps it in with Mexico over the flow of drugs and migrants into the United States. After the leaders’ hastily arranged dinner Friday night at Trump's Mar-a-Lago club in Florida, Trudeau spoke of “an excellent conversation” but offered no details. Trump said in a Truth Social post later Saturday that they discussed “many important topics that will require both Countries to work together to address.” For issues in need of such cooperation, Trump cited fentanyl and the “Drug Crisis that has decimated so many lives as a result of Illegal Immigration," fair trade deals "that do not jeopardize American Workers” and the U.S. trade deficit with its ally to the north. Trump asserted that the prime minister had made “a commitment to work with us to end this terrible devastation” of American families from fentanyl from China reaching the United States through its neighbors. The U.S., he said, “will no longer sit idly by as our Citizens become victims to the scourge of this Drug Epidemic.” The Republican president-elect has threatened to impose a 25% tax on all products entering the U.S. from Canada and Mexico as one of his first executive orders when he takes office in January. U.S. customs agents seized 43 pounds of fentanyl at the Canadian border last fiscal year, compared with 21,100 pounds at the Mexican border. On immigration, the U.S. Border Patrol made 56,530 arrests at the Mexican border in October alone and 23,721 arrests at the Canadian border between October 2023 and September 2024 — and Canadian officials say they are ready to make new investments in border security. Trudeau called Trump after the Republican's social media posts about the tariffs last Monday and they agreed to meet, according to a official familiar with the matter who was not authorized to publicly discuss detail of the private talks. The official said other countries are calling Canadian officials to hear how about how the meeting was arranged and to ask for advice. Mexican President Claudia Sheinbaum, after speaking with Trump on the telephone, said Thursday she was confident a tariff war with Washington would be averted. At the dinner that was said to last three hours, Trump said he and Trudeau also discussed energy, trade and the Arctic. A second official cited defense, Ukraine, NATO, China, the Mideast, pipelines and the Group of Seven meeting in Canada next year as other issues that arose. Trump, during his first term as president, once called Trudeau “weak” and “dishonest,” but it was the prime minister who was the first G7 leader to visit Trump since the Nov. 5 election. "Tariffs are a crucial issue for Canada and a bold move was in order. Perhaps it was a risk, but a risk worth taking,” Daniel Béland, a political science professor at McGill University in Montreal. Trudeau had said before leaving from Friday that Trump was elected because he promised to bring down the cost of groceries but now was talking about adding 25% to the cost of all kinds of products, including potatoes from Prince Edward Island in Atlantic Canada. “It is important to understand that Donald Trump, when he makes statements like that, he plans on carrying them out. There’s no question about it,” Trudeau said. “Our responsibility is to point out that he would not just be harming Canadians, who work so well with the United States, but he would actually be raising prices for Americans citizens as well and hurting American industry and business,” he added. The threatened tariffs could essentially blow up the North American trade pact that Trump’s team negotiated during his first term. Trudeau noted they were able to successfully renegotiate the deal, which he calls a “win win” for both countries. When Trump imposed higher tariffs as president, other countries responded with retaliatory tariffs of their own. Canada, for instance, announced billions of new duties in 2018 against the U.S. in a response to new taxes on Canadian steel and aluminum. Canada is the top export destination for 36 U.S. states. Nearly $3.6 billion Canadian (US $2.7 billion) worth of goods and services cross the border each day. About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports are from Canada. Canada is also the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is eager for and investing in for national security. Canada is one of the most trade-dependent countries in the world, and 77% of Canada’s exports go to the U.S. ___ Gillies reported from Toronto.
Botafogo won the Copa Libertadores for the first time in their history with a 3-1 victory over fellow Brazilians Atletico Mineiro on Saturday. Botafogo played almost the entire match with ten men after Gregore was sent off in the first minute but they showed impressive spirit and resilience to secure victory at River Plate's Monumental Stadium in Buenos Aires. Midfielder Gregore was shown a red card after a wild, high challenge on Fauto Vera, forcing Botafogo to adjust their game plan, but Atletico failed to press home their numerical advantage. Veteran forward Hulk had an effort from outside the box saved by John but the team from Belo Horizonte created little pressure. Sensing the game might not be the rearguard action they might have expected, Botafogo began to show more attacking intent and they were rewarded in the 35th minute. Marlon Freitas's shot from the edge of the box ricocheted around a crowded box before the ball fell to Luiz Henrique, who fired home from close range. To their credit, Botafogo didn't retreat to defend their slim advantage and they were able to double their lead in the 44th minute. Atletico defender Guilherme Arana attempted to shepherd the ball back to goalkeeper Everson but Luiz Henrique snuck between the pair and went down under challenge from the keeper. After a VAR review, a penalty was awarded and Alex Telles confidently smashed home the spot kick to give Botafogo an unlikely 2-0 lead at the break. Atletico, who won the Libertadores in 2013, made a triple substitution at the interval and it paid off swiftly with Eduardo Vargas heading in from a corner. Inevitably, there was late pressure from Atletico, but Botafogo made sure of the victory when Junior Santos finished off a counter-attack deep in stoppage time. With the win, Botafogo earns the final of 32 places in next year's FIFA Club World Cup to be held in the United States. sev/js
Rupert Murdoch's audacious bid to cement his eldest son's control over one of the world's most influential media empires has failed, a US report said Monday. The first family of news -- commanding a stable that includes Fox News, The Wall Street Journal and a host of British and Australian media -- had been the inspiration for the hit TV series "Succession." Like the fictional version, this real-life fight pitted the children of a powerful patriarch against each other for who should be the face and the voice of the empire after the old man dies. Murdoch, now 93, had long intended that his children inherit the empire, and jointly decide its direction. The eldest daughter, Prudence, has had little involvement in the family business, but at various times the other three -- Lachlan, James and Elisabeth -- have all been considered as successors. But in recent years Murdoch senior had reportedly grown concerned that Fox News -- the crown jewels of the collection -- might drift away from its lucrative right-wing moorings after his death, to reflect the more centrist views of James and Elisabeth. He had therefore sought to designate Lachlan -- who currently heads Fox News and News Corp -- as the controlling player in the wider business. That had required rewriting the terms of an irrevocable trust that passed power to the four siblings jointly, stripping three of them of voting power, while allowing them to continue to benefit financially. Rupert Murdoch had argued that giving control to Lachlan -- who is understood to share his father's worldview -- was in the financial interests of the whole brood. The family intrigue played out behind closed doors in a Nevada courtroom, where Murdoch senior and his four children were understood to have given several days' evidence in September. In a decision filed at the weekend, probate commissioner Edmund J. Gorman Jr. said the father and son had acted in "bad faith" in trying to rewrite the rules, The New York Times reported, citing a copy of the sealed court document. The plan to alter the trust's structure was a "carefully crafted charade" to "permanently cement Lachlan Murdoch's executive roles." "The effort was an attempt to stack the deck in Lachlan Murdoch's favor after Rupert Murdoch's passing so that his succession would be immutable," the Times cited the ruling as saying. "The play might have worked; but an evidentiary hearing, like a showdown in a game of poker, is where gamesmanship collides with the facts and at its conclusion, all the bluffs are called and the cards lie face up. "The court, after considering the facts of this case in the light of the law, sees the cards for what they are and concludes this raw deal will not, over the signature of this probate commissioner, prevail." Murdoch's lawyer, Adam Streisand, did not immediately reply to an AFP request for comment. The ruling is not final, and must now be ratified or rejected by a district judge. That ruling could be challenged, perhaps provoking another round of legal arguments. The complicated structure of the irrevocable trust reflects the colourful familial relationships that shaped Rupert Murdoch's life as he built the multibillion-dollar empire. The trust was reported to have been the result of a deal agreed with his second wife -- mother of Lachlan, Elisabeth and James -- who wanted to ensure her offspring would not be disenfranchised by children Murdoch had with his third wife, Wendi Deng. The Murdoch empire has transformed tabloid newspapers, cable TV and satellite broadcasting over the last few decades while facing accusations of stoking populism across the English-speaking world. Brexit in Britain and the rise of Donald Trump in the United States are credited at least partly to Murdoch and his outlets. hg/nro
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