Latest news with #MichaelMcCarthy
Perth Now
24-06-2025
- Business
- Perth Now
Virgin soars in 'luckiest' Aussie share debut of year
Virgin Australia has returned to the stock market with a transaction that timed its arrival perfectly. Shares in the nation's second-biggest airline were changing hands at $3.165 on Tuesday afternoon, up 9.1 per cent from their $2.90 listing price. Virgin shares began trading under the ticker code VGN at noon, hours after word of a likely ceasefire between Iran and Israel sent oil prices tumbling. "Until yesterday there were concerns the airline's IPO was hitting the market at the wrong time, but the overnight action has changed everything," Moomoo market strategist Michael McCarthy said. "Now, with risk appetites rising and oil prices dropping as fears of war recede, Virgin might be the luckiest debutant of the year." Jet fuel typically is the biggest operational expense for any airline, typically representing around 30 per cent of all costs, according to the International Air Transport Association. As with petrol, the price of the refined fuel is closely linked to the price of crude oil, which fell sharply at a possible end to the Middle East hostilities. Virgin's pre-existing owners - including US investors Bain Capital, Qatar Airways Group, Virgin Group and the Queensland Investment Corporation - sold a 30.2 per cent stake in the airline for $685 million, giving it a market capitalisation of $2.3 billion based on the offer price. Its chief rival, Qantas, was valued at more than $15 billion on Tuesday. Virgin collapsed into voluntary administration at the start of the COVID-19 pandemic in April 2020, owing $7 billion to more than 12,000 creditors. It was acquired by Bain in November of that year for $700 million before being delisted from the stock market and restructured. "Today marks the start of an exciting new chapter for Virgin Australia as a publicly listed company," Virgin Australia chairman Peter Warne said. "Our listing reflects the remarkable work undertaken over the past five years to transform the airline and position it for long-term success. "It is great news not just for our people, but for travellers who rely on Virgin Australia being a strong, resilient and competitive airline." Virgin Australia chief executive Dave Emerson said the airline was entering its next phase with a clear strategy, simplified operating and commercial models and strong team. Staff were being offered $3,000 "take-off grants" that would convert to ordinary shares if they remained with the company during a 24-month vesting period in recognition of their contributions to the airline's success, he said. Virgin flies a fleet of more than 100 aircraft on 76 domestic and short-haul international routes. Earlier in June, it began long-haul services between Australia and Doha under a "wet lease" agreement with Qatar Airways. Under such deals, the lessee provides the plane and crew, while the lessor sells the tickets and markets the flights.
USA Today
18-06-2025
- Entertainment
- USA Today
Manatee sneaks up on wading man; moment he spots it is priceless
Manatee sneaks up on wading man; moment he spots it is priceless A man wading in the water off a beach near Clearwater, Florida, was totally oblivious to a curious manatee that swam up next to him and sat motionless for a good 20 seconds before being noticed. And when the unsuspecting man did spot the manatee, he wasted little time in reacting in a panic. He bolted to his left, and the startled manatee swam off to its right. Michael McCarthy, owner of the See Through Canoe Company, posted video of the recent encounter on YouTube. 'This guy had a moment of serious panic but fortunately it was just a Manatee being curious,' McCarthy wrote in the YouTube description. 'Manatees are super curious and often check out anything new in their environment, including people sometimes. 'It's often hard to spot them below the surface of the water though, even when it's really clear.' Also on FTW Outdoors: 'Ghost elephant' seen for first time in years; is it a lone survivor? Manatees are known as gentle giants as they are a docile, calm creature and pose no threat to humans. Except to scare them occasionally. Photo courtesy of See Through Canoe.
Techday NZ
08-06-2025
- Business
- Techday NZ
Moomoo launches in New Zealand, offering US trades from USD $0.99
A new trading platform has launched in New Zealand, aiming to reduce barriers for local investors accessing US share markets by offering the lowest fees available for unlimited US trades and providing access to a broad range of stocks and exchange-traded funds. Founded in Silicon Valley in 2018, moomoo has expanded its presence globally, reaching over 25 million users across markets including the United States, Singapore, Australia, Japan, Canada, Hong Kong and Malaysia. This entry into the New Zealand market comes after moomoo's recent expansion into Australia, where it achieved the highest number of online broker app downloads within its first two years of operation. Investors in New Zealand now have the opportunity to trade more than 22,000 stocks and ETFs listed on markets in the United States, Australia, and Hong Kong. The platform offers more than 15,000 US stocks and ETFs at a fee of USD $0.99 (NZD $1.66) per trade. Michael McCarthy, Chief Executive Officer for moomoo Australia and New Zealand, said the platform was developed to democratise access to global markets for investors of all experience levels. "One of the unique features of moomoo is its ability to enable 'social investing', whereby the online community of global users are able to support and learn from one another, including sharing investing ideas and insights on stocks," McCarthy said. "This allows everyone from beginners to seasoned investors to learn investment strategies and share this experience with other users around the world. We also offer structured learning experiences and additional educational resources to assist users on their investment journey." McCarthy noted that these resources are targeted at helping investors track market trends, identify opportunities and make investment decisions that reflect their individual risk preferences and financial objectives. He added that the platform provides 24-hour US trading on every trading day, removing key time zone barriers for New Zealand investors and enabling access to US markets at any hour. "New Zealand has a strong investing culture, and we see growing demand for innovative, sophisticated tools that empower retail investors to navigate global markets with confidence," McCarthy said. "We are able to provide real-time market data, AI-powered analytics, advanced charting tools, and curated news from top-tier financial media outlets. These features transform the complexity of financial markets into intuitive, actionable insights, seamlessly integrated into the platform's user-centric interface." As part of its launch, moomoo is offering new users in New Zealand commission-free trading on Australian and US stocks for their first 30 days. Additional incentives include free reward stocks for users following eligible deposits. The moomoo app allows New Zealand investors to access features such as options trading and dividend reinvestment plans for US-listed shares, aiming to cater for a diverse range of investment strategies and needs.
Yahoo
08-06-2025
- Sport
- Yahoo
Sovereignty reigns over Journalism again in Belmont
Sovereignty won the 157th running of the Belmont Stakes on Saturday with Journalism coming in second. (AL BELLO) Kentucky Derby winner Sovereignty won the 157th Belmont Stakes on Saturday, surging past favored Journalism just as he did at Churchill Downs to finish with two legs of this year's Triple Crown. After sitting out the Preakness, won in scintillating fashion by Journalism, Sovereignty returned to win the anticipated rematch in convincing fashion, pulling away in the final straight to relegate Journalism to second again. Advertisement Baeza was third to complete the repeat of the Kentucky Derby one-two-three. Italian jockey Umberto Rispoli guided the Michael McCarthy-trained Journalism to the front as they turned for home, closely tracked by Sovereignty -- who was taken wide by jockey Junior Alvarado and powered past to win by three lengths. Sovereignty, who had given the Godolphin stables a long-awaited first Kentucky Derby victory, became the first horse two win two legs of the Triple Crown since Justify became the 13th horse to sweep all three in 2018. Michael Banahan, Godolphin USA's director of bloodstock, said the decision to give Sovereignty the five weeks' rest he has become used to paid off with a "fantastic result". Advertisement "We knew he was a very good horse going into the Kentucky Derby and he showed it that day. "And to come back here again and beat a really, really good horse like Journalism today, running one-two again like they did in the Derby -- it was a fantastic result for us here." Sovereignty trainer Bill Mott said he was "on a cloud". "The horse proved himself," McCarthy said. "The form held up -- the first three finishers in the Derby were one-two-three today, and I think it just was a great race." For the second straight year the grade one race, with a purse of $2 million, was run at Saratoga because of ongoing renovations at Belmont Park, the distance again reduced from the Belmont's traditional 1 1/2 miles to 1 1/4. Journalism was the only horse to run in all three Triple Crown races this year. bb/sev
Yahoo
08-06-2025
- Sport
- Yahoo
Sovereignty reigns over Journalism again in Belmont
Sovereignty won the 157th running of the Belmont Stakes on Saturday with Journalism coming in second. (AL BELLO) Kentucky Derby winner Sovereignty won the 157th Belmont Stakes on Saturday, surging past favored Journalism just as he did at Churchill Downs to finish with two legs of this year's Triple Crown. After sitting out the Preakness, won in scintillating fashion by Journalism, Sovereignty returned to win the anticipated rematch in convincing fashion, pulling away in the final straight to relegate Journalism to second again. Advertisement Baeza was third to complete the repeat of the Kentucky Derby one-two-three. Italian jockey Umberto Rispoli guided the Michael McCarthy-trained Journalism to the front as they turned for home, closely tracked by Sovereignty -- who was taken wide by jockey Junior Alvarado and powered past to win by three lengths. Sovereignty, who had given the Godolphin stables a long-awaited first Kentucky Derby victory, became the first horse two win two legs of the Triple Crown since Justify became the 13th horse to sweep all three in 2018. Michael Banahan, Godolphin USA's director of bloodstock, said the decision to give Sovereignty the five weeks' rest he has become used to paid off with a "fantastic result". Advertisement "We knew he was a very good horse going into the Kentucky Derby and he showed it that day. "And to come back here again and beat a really, really good horse like Journalism today, running one-two again like they did in the Derby -- it was a fantastic result for us here." Sovereignty trainer Bill Mott said he was "on a cloud". "The horse proved himself," McCarthy said. "The form held up -- the first three finishers in the Derby were one-two-three today, and I think it just was a great race." For the second straight year the grade one race, with a purse of $2 million, was run at Saratoga because of ongoing renovations at Belmont Park, the distance again reduced from the Belmont's traditional 1 1/2 miles to 1 1/4. Journalism was the only horse to run in all three Triple Crown races this year. bb/sev
