Clubs in Europe's top division in rugby league vote to add more teams from 2026
The future structure of the league was discussed during a meeting at Headingley, north England, on Monday, with a proposal agreed to immediately open up two additional places, provided certain conditions are met.
'The 12 existing Betfred Super League clubs have today voted to extend the competition to 14 teams for the 2026 season, subject to conditions,' a statement from Super League (Europe) Limited read.
'This would be done by combining the Club Grading System introduced to determine Super League membership as part of the sport's long-term strategic partnership with IMG in 2022, with an independent panel to be chaired by Lord Jonathan Caine, who was recently elected as a member of the Rugby Football League Board, and the Strategic Review Sub-Committee.
'The top 12 clubs under grading at the conclusion of the 2025 domestic season will therefore be joined by two clubs recommended by that panel — provided the panel judges there are two applications of sufficient merit against the set criteria.
'Further details of the composition of the panel and the timing of the process will be confirmed in due course.'
The Super League currently includes eleven teams from England and one side based in France — Catalans Dragons.
The new proposals could see Championship teams such as Toulouse Olympique, Bradford Bulls, York Knights and London Broncos considered for a place in the expanded 14-team top-flight.
Salford Red Devils, meanwhile, could see their Super League spot for 2026 reviewed given the club's ongoing financial issues.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
16 minutes ago
- Yahoo
Bayern Munich's Joao Palhinha to have Tottenham medical ahead of loan transfer
Tottenham Hotspur are set to complete a season-long loan move for Joao Palhinha. According to The Athletic's David Ornstein, the 30-year-old will have a medical in Germany on Friday ahead of joining Spurs from Bayern Munich. The Lilywhites will cover full wages of Palhinha, and they will have the option to make the move permanent for €30 million at the end of the season. The Portugal international is deemed surplus to requirements at Bayern, with Leon Goretzka, Aleks Pavlovic, Joshua Kimmich and Konrad Laimer all ahead of him in the pecking order. Palhinha was made available by the Bundesliga giants this summer, but Tottenham preferred a loan transfer over a permanent deal. The defensive midfielder started his career at Sporting Lisbon before joining Fulham in 2022. He enjoyed a successful two years at Craven Cottage, featuring in 79 games and scoring eight goals. Palhinha's performances convinced Bayern to splash a fee worth €51m to hire his services last year. But he failed to make a huge impact for the Bavarians, starting just six league matches due to form and fitness issues. Tottenham have made several quality acquisitions this summer, as they aim to make a solid start to the 2025-26 campaign under new manager Thomas Frank. The North Londoners have brought in Mohammed Kudus, Kota Takai and Luka Vuskovic, while Kevin Danso and Mathys Tel have also joined the club on permanent deals. Now they are on the verge of completing a loan transfer for Palhinha. Stats from Transfermarkt
Yahoo
16 minutes ago
- Yahoo
LyondellBasell reports second quarter 2025 earnings
HOUSTON and LONDON, Aug. 01, 2025 (GLOBE NEWSWIRE) -- Net income: $115 million, $202 million excluding identified items1 Diluted earnings per share: $0.34 per share; $0.62 per share excluding identified items EBITDA: $606 million, $715 million excluding identified items Cash from operating activities: $351 million Returned $536 million to shareholders through dividends and share repurchases Continued to execute on strategy while navigating the cycle with operational and financial discipline: Announced the planned sale of select European assets to further optimize the business portfolio Deferring construction of Flex-2 project to preserve capital during the cycle downturn Cash Improvement Plan on track to achieve an increased run-rate of $600 million dollars for 2025 while expanding into 2026 with an incremental target of $500 million LyondellBasell Industries (NYSE: LYB) (the "company") today announced results for the second quarter 2025. Comparisons with the prior quarter and second quarter 2024 are available in the following table: Table 1 - Earnings Summary Three Months Ended Six Months Ended June 30,2025 March 31,2025 June 30,2024 June 30,2025 June 30,2024 Sales and other operating revenues $ 7,658 $ 7,677 $ 8,678 $ 15,335 $ 16,982 Net income 115 177 924 292 1,397 Diluted earnings per share 0.34 0.54 2.82 0.88 4.25 Weighted average diluted share count 322 324 326 323 326 EBITDA1 606 655 1,643 1,261 2,689 Net income excluding identified items $ 202 $ 110 $ 724 $ 312 $ 1,157 Diluted earnings per share excluding identified items 0.62 0.33 2.20 0.95 3.52 Gain on sale of business, pre-tax — — (293 ) — (293 ) Asset write-downs, pre-tax 32 — — 32 — Cash Improvement Plan costs, pre-tax 20 — — 20 — Dutch PO joint venture exit costs, pre-tax — 117 — 117 — European transaction costs, pre-tax 10 — — 10 — Loss (income) from discontinued operations, pre-tax 47 (196 ) 26 (149 ) (26 ) EBITDA excluding identified items 715 576 1,330 1,291 2,293 (1) See 'Information Related to Financial Measures' for a discussion of the company's use of non-GAAP financial measures and Tables 2-5 for reconciliations or calculations of these financial measures. 'Identified items' include adjustments for lower of cost or market ("LCM"), gain on sale of business, asset write-downs in excess of $10 million in aggregate for the period, Cash Improvement Plan costs, Dutch PO joint venture exit costs, European transaction costs and discontinued operations. 'As we advance our three-pillar strategy, LYB continues to grow and upgrade our core businesses through disciplined capital allocation that extends our competitive advantage. We are expanding our Cash Improvement Plan to help navigate a prolonged cyclical downturn. Our Value Enhancement Program and portfolio optimization actions remain on track to reap the benefits from a cycle recovery," said Peter Vanacker, LyondellBasell chief executive officer. "We are encouraged by recent improvements in pricing and demand for polyolefins, and we remain cautiously optimistic regarding policy developments to address excess capacity in China and revitalize the European chemical industry. LYB is well-positioned to capture these market tailwinds and create durable, long-term value for our shareholders through consistent execution of our strategy.' SECOND QUARTER 2025 RESULTSThe company reported net income for the second quarter 2025 of $115 million, or $0.34 per diluted share. During the quarter, the company recognized identified items of $87 million, net of tax. These items, which impacted second quarter earnings by $0.28 per share, related to asset write-downs, transaction costs, the Cash Improvement Plan, and discontinued operations. Second quarter 2025 EBITDA was $606 million, or $715 million excluding identified items. In North America, the successful completion of turnarounds at the company's Channelview complex enabled higher operating rates that supported a sequential improvement in integrated polyethylene volumes and margins. Domestic demand for polyethylene and polypropylene was seasonally stronger, led by solid demand from consumer packaging, healthcare, and building and construction as well as increased demand from infrastructure markets. A June increase in polyethylene contract prices is providing momentum for third quarter profitability. In Europe, lower feedstock costs helped improve integrated polyethylene margins while polyolefins volumes benefited from increased seasonal demand. Intermediate Chemicals profitability improved with stronger styrene margins due to lower benzene costs and price support from second quarter industry outages. Oxyfuels margins fell as lower crude oil prices limited the typical seasonal uplift from the summer driving season. During the second quarter, global markets began to adapt to trade volatility, contributing to a more stable operating environment across several product chains. LyondellBasell generated $351 million in cash from operating activities during the second quarter. The company maintained its balanced approach to capital allocation by investing $539 million in capital expenditures and returning $536 million to shareholders through dividends and share repurchases. At the end of the quarter, LYB held $1.7 billion in cash and cash equivalents and maintained $6.4 billion in available liquidity. STRATEGY HIGHLIGHTSLYB continued to execute on its three-pillar strategy by taking decisive actions to reshape its asset base and enhance long-term value creation. The planned sale of four European assets repositions LYB to better serve global markets from a more cost-advantaged asset base. To better align investment levels with cash generation, LYB will delay construction of the Flex-2 project. The Cash Improvement Plan has been expanded and is targeting at least $1.1 billion in cash improvements over 2025 and 2026 to protect the balance sheet and support shareholder returns. The company remains firmly committed to a balanced approach to capital allocation to ensure safe and reliable operations, disciplined growth and shareholder returns while maintaining an investment-grade balance sheet. OUTLOOKIn the third quarter, the company expects North American integrated polyethylene margins to improve due to the completion of planned maintenance in April and increased prices supported by solid domestic demand and stronger export volumes. In Europe, steady seasonal demand and favorable feedstock costs are expected to continue. Ongoing capacity rationalizations across the region should help to balance regional supply and demand. Oxyfuels margins are expected to remain low for the remainder of the summer season. LYB continues to carefully evaluate potential risks and opportunities associated with evolving tariffs and global trade flows. To align with global demand and the company's planned maintenance, LYB expects third quarter operating rates of 85% for North American olefins and polyolefins (O&P) assets, 75% for European O&P assets and 80% for Intermediates & Derivatives (I&D) assets. CONFERENCE CALLLYB will host a conference call August 1 at 11 a.m. ET. Participants on the call will include Chief Executive Officer Peter Vanacker, Executive Vice President and Chief Financial Officer Agustin Izquierdo, Executive Vice President of Global Olefins and Polyolefins Kim Foley, Executive Vice President of Intermediates and Derivatives Aaron Ledet, Executive Vice President of Advanced Polymer Solutions Torkel Rhenman and Head of Investor Relations David Kinney. For event access, the toll-free dial-in number is 1-877-407-8029, international dial-in number is 201-689-8029 or click the CallMe link. The slides and webcast that accompany the call will be available at A replay of the call will be available from 1 p.m. ET August 1 until September 1, 2025. The replay toll-free dial-in numbers are 1-877-660-6853 and 201-612-7415. The access ID for each is 13746206. ABOUT LYONDELLBASELLWe are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit or follow @LyondellBasell on LinkedIn. FORWARD-LOOKING STATEMENTSThe statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. When used in this release, the words 'estimate,' 'believe,' 'continue,' 'could,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'should,' 'will,' 'expect,' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Actual results could differ materially based on factors including, but not limited to, market conditions, the business cyclicality of the chemical and polymers industries; the availability, cost and price volatility of raw materials and utilities, particularly the cost of oil, natural gas, and associated natural gas liquids; our ability to successfully implement initiatives identified pursuant to our Value Enhancement Program and generate anticipated earnings; competitive product and pricing pressures; labor conditions; our ability to attract and retain key personnel; operating interruptions (including leaks, explosions, fires, weather-related incidents, mechanical failure, unscheduled downtime, supplier disruptions, labor shortages, strikes, work stoppages or other labor difficulties, transportation interruptions, spills and releases and other environmental risks); the supply/demand balances for our and our joint ventures' products, and the related effects of industry production capacities and operating rates; our ability to manage costs; future financial and operating results; our ability to align our assets and grow and upgrade our core, including completing the proposed sale of certain European assets; our ability to reduce our fixed costs and increase cash flow; legal and environmental proceedings; tax rulings, consequences or proceedings; the impacts of tariffs and trade disruptions; technological developments, and our ability to develop new products and process technologies; our ability to meet our sustainability goals, including the ability to operate safely, increase production of recycled and renewable-based polymers to meet our targets and forecasts, and reduce our emissions and achieve net zero emissions by the time set in our goals; our ability to procure energy from renewable sources; our ability to build a profitable Circular & Low Carbon Solutions business; potential governmental regulatory actions; political unrest and terrorist acts; risks and uncertainties posed by international operations, including foreign currency fluctuations; and our ability to comply with debt covenants and to repay our debt. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the 'Risk Factors' section of our Form 10-K for the year ended December 31, 2024, which can be found at on the Investors page and on the Securities and Exchange Commission's website at There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change, except as required by law. This release contains time sensitive information that is accurate only as of the date hereof. Information contained in this release is unaudited and is subject to change. We undertake no obligation to update the information presented herein except as required by law. INFORMATION RELATED TO FINANCIAL MEASURESThis release makes reference to certain non-GAAP financial measures as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. We report our financial results in accordance with U.S. generally accepted accounting principles, but believe that certain non-GAAP financial measures, such as EBITDA, and EBITDA, net income and diluted EPS exclusive of identified items provide useful supplemental information to investors regarding the underlying business trends and performance of the company's ongoing operations and are useful for period-over-period comparisons of such operations. Non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the financial measures prepared in accordance with GAAP. We calculate EBITDA as net income (loss) plus interest expense (net), provision for (benefit from) income taxes, and depreciation and amortization. EBITDA should not be considered an alternative to profit or operating profit for any period as an indicator of our performance, or as an alternative to operating cash flows as a measure of our liquidity. We also present EBITDA, net income and diluted EPS exclusive of identified items. Identified items include adjustments for 'lower of cost or market" ('LCM'), gain on sale of business, asset write-downs in excess of $10 million in aggregate for the period, Cash Improvement Plan costs, Dutch PO joint venture exit costs, European transaction costs and discontinued operations. Asset write-downs include impairments of goodwill, impairments of long-lived assets, a write-down of a related party loan receivable and a fourth quarter 2024 deferred tax valuation allowance for one of our Chinese joint ventures recognized in Income (loss) from equity investments. Our inventories are stated at the lower of cost or market. Cost is determined using the last-in, first-out ('LIFO') inventory valuation methodology, which means that the most recently incurred costs are charged to cost of sales and inventories are valued at the earliest acquisition costs. Fluctuation in the prices of crude oil, natural gas and correlated products from period to period may result in the recognition of charges to adjust the value of inventory to the lower of cost or market in periods of falling prices and the reversal of those charges in subsequent interim periods, within the same fiscal year as the charge, as market prices recover. A gain or loss on sale of a business is calculated as the consideration received from the sale less its carrying value. Property, plant and equipment are recorded at historical costs. If it is determined that an asset or asset group's undiscounted future cash flows will not be sufficient to recover the carrying amount, an impairment charge is recognized to write the asset down to its estimated fair value. Goodwill is tested for impairment annually in the fourth quarter or whenever events or changes in circumstances indicate that the fair value of a reporting unit with goodwill is below its carrying amount. If it is determined that the carrying value of the reporting unit including goodwill exceeds its fair value, an impairment charge is recognized. We assess our equity investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. If the decline in value is considered to be other than temporary the investment is written down to its estimated fair value. Valuation allowances are provided against deferred tax assets when it is more likely than not that some portion or all of the deferred tax asset will not be realized. In June 2025, we announced plans to sell select olefins & polyolefins assets and the associated business in Europe, resulting in selling expenses, separation costs and employee-related charges (collectively referred to as "transaction costs"). In April 2025, the Company announced the Cash Improvement Plan, focused on strengthening financial performance, which resulted in employee-related charges across all segments. In March 2025, we announced plans to permanently close our Dutch PO joint venture asset, resulting in the recognition of shutdown-related costs. In February 2025, we ceased business operations at our Houston refinery. Accordingly, our refining business, previously disclosed as the Refining segment, is reported as a discontinued operation. These non-GAAP financial measures as presented herein, may not be comparable to similarly titled measures reported by other companies due to differences in the way the measures are calculated. In addition, we include calculations for certain other financial measures to facilitate understanding. This release contains time sensitive information that is accurate only as of the time hereof. Information contained in this release is unaudited and subject to change. LyondellBasell undertakes no obligation to update the information presented herein except to the extent required by law. Additional operating and financial information may be found on our website at Source: LyondellBasell Industries Investor Contact: David Kinney +1 713-309-7141Media Contact: Nick Facchin +1 713-309-4791 Table 2 - Reconciliations of Net Income to Net Income Excluding Identified Items and to EBITDA Including and Excluding Identified Items Three Months Ended Six Months Ended Millions of U.S. dollars June 30,2025 March 31,2025 June 30,2024 June 30,2025 June 30,2024 Net income $ 115 $ 177 $ 924 $ 292 $ 1,397 Identified items less: Gain on sale of business, pre-tax(a) — — (293 ) — (293 ) add: Asset write-downs, pre-tax(b) 32 — — 32 — add: Cash Improvement Plan costs, pre-tax(c) 20 — — 20 — add: Dutch PO joint venture exit costs, pre-tax(d) — 117 — 117 — add: European transaction costs, pre-tax(e) 10 — — 10 — less: Loss (income) from discontinued operations, pre-tax(f) 47 (196 ) 26 (149 ) (26 ) add: (Benefit from) provision for income taxes related to identified items (22 ) 12 67 (10 ) 79 Net income excluding identified items $ 202 $ 110 $ 724 $ 312 $ 1,157 Net income $ 115 $ 177 $ 924 $ 292 $ 1,397 Provision for income taxes 62 78 249 140 371 Depreciation and amortization 332 323 387 655 752 Interest expense, net 97 77 83 174 169 EBITDA 606 655 1,643 1,261 2,689 Identified items less: Gain on sale of business(a) — — (293 ) — (293 ) add: Asset write-down(b) 32 — — 32 — add: Cash Improvement Plan costs(c) 20 — — 20 — add: Dutch PO joint venture exit costs(d) — 117 . — 117 — add: European transaction costs(e) 10 — — 10 — less: EBITDA from discontinued operations(f) 47 (196 ) (20 ) (149 ) (103 ) EBITDA excluding identified items $ 715 $ 576 $ 1,330 $ 1,291 $ 2,293 (a) In 2024, we sold our U.S. Gulf Coast-based Ethylene Oxide and Derivatives ("EO&D") business, resulting in the recognition of a gain in our Intermediates & Derivatives ("I&D") segment.(b) Includes asset write-downs in excess of $10 million in aggregate for the period. The second quarter of 2025 includes a non-cash impairment of property, plant and equipment of $32 million related to the European assets classified as held for sale within our Olefins & Polyolefins – Europe, Asia & International ("O&P-EAI") segment.(c) In April 2025, the Company announced the Cash Improvement Plan, focused on strengthening financial performance, which resulted in employee-related charges across all segments.(d) In March 2025, we announced plans to permanently close our Dutch PO joint venture asset within the I&D segment, resulting in the recognition of shutdown-related costs.(e) In June 2025, we announced plans to sell select olefins & polyolefins assets and the associated business in Europe, resulting in selling expenses, separation costs and employee-related charges in our O&P-EAI segment.(f) In February 2025, we ceased business operations at our Houston refinery. Accordingly, our refining business, previously disclosed as the Refining segment, is reported as a discontinued operation. The related operating results of our refining business are reported as discontinued operations for all periods presented. Table 3 - Reconciliation of Diluted EPS to Diluted EPS Excluding Identified Items Three Months Ended Six Months Ended June 30,2025 March 31,2025 June 30,2024 June 30,2025 June 30,2024 Diluted earnings per share $ 0.34 $ 0.54 $ 2.82 $ 0.88 $ 4.25 Identified items less: Gain on sale of business — — (0.68 ) — (0.68 ) add: Asset write-downs(a) 0.07 — — 0.07 — add: Cash Improvement Plan costs 0.05 — — 0.05 — add: Dutch PO joint venture exit costs — 0.27 — 0.27 — add: European transaction costs 0.03 — — 0.03 — less: Loss (income) from discontinued operations 0.13 (0.48 ) 0.06 (0.35 ) (0.05 ) Diluted earnings per share excluding identified items $ 0.62 $ 0.33 $ 2.20 $ 0.95 $ 3.52 (a) Includes asset write-downs in excess of $10 million in aggregate for the period. Table 4 - Calculation of Cash and Liquid Investments and Total Liquidity Millions of U.S. dollars June 30, 2025 Cash and cash equivalents and restricted cash $ 1,704 Short-term investments — Cash and liquid investments 1,704 add: Availability under Senior Revolving Credit Facility 3,750 Availability under U.S. Receivables Facility 900 Total liquidity $ 6,354 Table 5 - Calculation of Dividends and Share Repurchases Three Months Ended Millions of U.S. dollars June 30, 2025 Dividends paid - common stock $ 445 Repurchase of Company ordinary shares 91 Dividends and share repurchases $ 536 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
16 minutes ago
- Yahoo
Inter Milan Captain Leading The Charge For Revenge After First Trophyless Season In Five Years
Lautaro Martinez is leading the charge for Inter Milan's hunger for revenge after their first trophyless season in five years. This according to today's print edition of Milan-based newspaper Gazzetta dello Sport, via . Inter Milan ended last season in bitter disappointment. In April, the Nerazzurri had been in the running for the Serie A title, the Coppa Italia, and the Champions League. But from there, things began to unravel. First, there was untimely elimination from the Coppa at the hands of AC Milan. Then, Inter let their advantage over Napoli in the Serie A table slip. They would go onto lose out on the title by just one point on the final day of the season. Lastly, Inter's heroics through the Champions League knockout rounds were not enough as they would lose the final the Paris Saint-Germain – by a humiliating 5-0 scoreline. Then, to add insult to injury, Inter also went out of the Club World Cup against Brazilian side Fluminense, at the round of sixteen stage. Lautaro Martinez Leading The Charge For Inter Revenge After Trophyless Season SEATTLE, WASHINGTON – JUNE 21: Lautaro Martinez #10 of FC Internazionale Milano looks on during the FIFA Club World Cup 2025 group E match between FC Internazionale Milano and Urawa Red Diamonds at Lumen Field on June 21, 2025 in Seattle, Washington. (Photo by) No one felt the blow of that end to the season more than Inter captain Lautaro Martinez. Wearing the armband for the Nerazzurri, the Argentine feels a strong sense of responsibility at the Nerazzurri. Martinez has certainly enjoyed more than his share of success at Inter. And in fact, he had lifted trophies in four straight seasons at the club. Therefore, the ending of last season was a truly bitter blow. However, that is also serving as motivation to Martinez, reports the Gazzetta. The Inter captain is more determined than ever to win at least one piece of silverware over the season to come.
