A Bid to Impress Trump Stirs a Restive Corner of Africa
As Donald Trump upends the global-trade playbook, a restive corner of Africa is stirring amid efforts to impress the US president.
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Yahoo
26 minutes ago
- Yahoo
3 people die in overnight Ukrainian drone strikes on Russia
Ukrainian drone attacks overnight into Saturday killed three people, Russian officials said Saturday. Russia's Defense Ministry said air defenses intercepted or destroyed 112 drones across eight Russian regions and the Russian-occupied Crimean Peninsula. A drone attack on the Rostov region, on the border with Ukraine, killed one person, acting governor Yuri Slyusar said. Further from the front line, a woman was killed and two other people wounded in a drone strike on business premises in the Penza region, according to regional governor Oleg Melnichenko. In the Samara region, falling drone debris sparked a fire that killed an elderly resident, regional Gov. Vyacheslav Fedorishchev said. According to the Ukrainian air force, Russia launched 53 drones and decoys at Ukraine overnight into Saturday. It said that air defenses shot down or jammed 45 drones. Eleven people were wounded in an overnight drone strike on the Kharkiv region, Gov. Oleh Syniehubov said Saturday. The reciprocal drone strikes followed a day of mourning in the Ukrainian capital Kyiv on Friday, after a Russian drone and missile attack killed 31 people, including five children, and wounded over 150. The continued attacks come after U.S. President Donald Trump on Tuesday gave Russian President Vladimir Putin a shorter deadline — Aug. 8 — for peace efforts to make progress. Trump said Thursday that special envoy Steve Witkoff is heading to Russia to push Moscow to agree to a ceasefire in its war with Ukraine and has threatened new economic sanctions if progress is not made. ___ Follow AP's coverage of the war in Ukraine at The Associated Press
Associated Press
28 minutes ago
- Associated Press
3 people die in overnight Ukrainian drone strikes on Russia
Ukrainian drone attacks overnight into Saturday killed three people, Russian officials said Saturday. Russia's Defense Ministry said air defenses intercepted or destroyed 112 drones across eight Russian regions and the Russian-occupied Crimean Peninsula. A drone attack on the Rostov region, on the border with Ukraine, killed one person, acting governor Yuri Slyusar said. Further from the front line, a woman was killed and two other people wounded in a drone strike on business premises in the Penza region, according to regional governor Oleg Melnichenko. In the Samara region, falling drone debris sparked a fire that killed an elderly resident, regional Gov. Vyacheslav Fedorishchev said. According to the Ukrainian air force, Russia launched 53 drones and decoys at Ukraine overnight into Saturday. It said that air defenses shot down or jammed 45 drones. Eleven people were wounded in an overnight drone strike on the Kharkiv region, Gov. Oleh Syniehubov said Saturday. The reciprocal drone strikes followed a day of mourning in the Ukrainian capital Kyiv on Friday, after a Russian drone and missile attack killed 31 people, including five children, and wounded over 150. The continued attacks come after U.S. President Donald Trump on Tuesday gave Russian President Vladimir Putin a shorter deadline — Aug. 8 — for peace efforts to make progress. Trump said Thursday that special envoy Steve Witkoff is heading to Russia to push Moscow to agree to a ceasefire in its war with Ukraine and has threatened new economic sanctions if progress is not made. ___ Follow AP's coverage of the war in Ukraine at
Yahoo
an hour ago
- Yahoo
WisdomTree Inc (WT) Q2 2025 Earnings Call Highlights: Strategic Acquisition and Record AUM ...
Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points WisdomTree Inc (NYSE:WT) announced the acquisition of Ceres Partners, a leading US farmland investment manager, which is expected to accelerate revenue growth and expand margins. The acquisition is expected to raise at least $750 million into farmland-focused strategies by 2030, potentially doubling the current base and performance fee revenues. WisdomTree Inc (NYSE:WT) reported record AUM of $126 billion as of June 30th, driven by strong inflows across regions and asset classes. The company's European Defense Fund has attracted significant inflows, contributing to organic growth at an annualized rate of 12%. WisdomTree Inc (NYSE:WT) is seeing meaningful traction in digital assets, with AUM in digital assets more than doubling since last quarter, reaching $500 million. Negative Points The acquisition of Ceres Partners involves a significant upfront cash payment of $275 million and a potential earnout of up to $225 million, contingent on achieving revenue growth targets. Foreign exchange headwinds could adversely impact discretionary expense guidance by approximately $3 million if current exchange rates hold. The performance fees from Ceres Partners are largely driven by the mark-to-market of the farmland portfolio, which may fluctuate depending on market conditions. There are concerns about the predictability and consistency of performance fees, which are not episodic and depend on the net profits of the fund. The integration of Ceres Partners involves managing a portfolio of 540 properties, which requires annual appraisals and could involve additional operational complexities. Q & A Highlights Warning! GuruFocus has detected 6 Warning Signs with CPT. Q: Can you explain the fund structure and fundraising plans for the acquisition of Ceres Partners? A: Jeremy Schwartz, Head of Global Research, explained that Ceres operates an evergreen fund structure, which is designed to be a long-term partner for farmers, unlike traditional drawdown funds. This structure aligns well with WisdomTree's client base, which includes institutions, RIAs, and advisors, and will benefit from WisdomTree's strong distribution capabilities. Q: How durable and predictable are the performance fees from Ceres Partners? A: Brian, CFO, clarified that performance fees are largely driven by the mark-to-market valuation of the farmland portfolio. The fund's properties generate steady rental income, and historically, farmland has appreciated at about 6% annually. Performance fees are based on net profits and are not dependent on asset realizations, offering a consistent revenue stream. Q: Why not add farmland to your model portfolios given the competitive opportunities? A: Jonathan Steinberg, CEO, indicated that WisdomTree is considering adding farmland allocations to their model portfolios and selected ETFs. The farmland asset class is highly attractive and underappreciated, with minimal competition from major asset managers, presenting a significant growth opportunity. Q: What are the expectations for the model's business for the rest of the year? A: Jarrett Lilien, President and COO, stated that the focus is on expanding user engagement with existing models and acquiring new users. The company is on track with its goals and aims to continue this momentum through consistent execution. Q: How do you plan to accelerate the growth of Ceres Partners, and what is the profitability outlook for management and performance fees? A: Jonathan Steinberg, CEO, mentioned that WisdomTree's distribution capabilities will help broaden Ceres's reach to financial intermediaries and high-net-worth clients. Brian, CFO, added that management fee revenues are expected to double by 2030, with performance fees growing 1.5 to 2 times, driven by historical farmland appreciation rates. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
