sell

As the trial about whether the Angels should be held at least partially liable for the death of Tyler Skaggs enters its third week, major league officials are closely monitoring the proceedings.

The trial is scheduled to last several more weeks, and it would be premature for the league to determine what action it might take against the Angels — if any — until all evidence is revealed in court and a verdict or a settlement is reached.

However, it is considered highly unlikely that the league would compel Angels owner Arte Moreno to sell the team.

Consideration of any action probably would be deferred until the league could conduct its own investigation and until a jury verdict, if there is one, is fully reviewed by an appeals court.

The Skaggs family is seeking $785 million in damages, as first reported by the Athletic, based on the allegation the Angels knew or should have known that former staffer Eric Kay was using illegal drugs, including the pills he provided to Skaggs on the night the pitcher died in 2019. The Angels deny the allegations.

The jury would not have to decide whether to award all of that money or none of it. The jury first would have to determine who was liable: the Angels, Kay, Skaggs and any other parties. Then the jury would decide what percentage of liability each of those parties should assume and what the financial compensation should be.

As an example, a jury could decide the damages should be $210 million — the amount the family listed as a minimum in a court filing — and the Angels should be held one-third responsible. Under that example, they would be assessed $70 million.

In 1943, Philadelphia Phillies owner William Cox was banned for life for betting on baseball.

If history is any indication, if the league believes an owner merits discipline, an owner would be more likely to be suspended than banned. In 1993, Cincinnati Reds owner Marge Schott was suspended one year for racist and insensitive comments.

New York Yankees owner George Steinbrenner was suspended three times: two years for illegal contributions to President Nixon’s 1972 campaign; one week after publicly criticizing umpires; and two years and five months for paying a gambler to dig up disparaging information on All-Star outfielder Dave Winfield. That last suspension originally was announced as a lifetime ban; Steinbrenner was later reinstated.

Kay, who provided Skaggs with counterfeit oxycodone pills that were laced with fentanyl, is serving a 22-year sentence in federal prison. Skaggs died in his hotel room in Texas of asphyxiation, according to an autopsy, choking on his own vomit while under the influence of oxycodone, fentanyl and alcohol.

Nvidia (NVDA 0.86%) has been one of the most successful stocks in the artificial intelligence (AI) arms race, rising 1,130% since it began at the start of 2023. This has delivered long-term investors phenomenal returns, but there’s a new, exciting investment trend in town that could disrupt how investors view Nvidia’s success.

Quantum computing is one of the most popular industries to invest in, and its stocks have surged over the past few months as investor sentiment surrounding the industry has improved. One of the most popular options is IonQ (IONQ -3.92%), which is no stranger to success. If you’d invested in IonQ instead of Nvidia at the start of 2023, you’d be up 2,150% (at the time of this writing)!

That may have some investors thinking they’ve backed the wrong horse in the computing race. So, is it time to move on from Nvidia and scoop up shares of IonQ? Let’s find out.

Image source: Getty Images.

Nvidia and IonQ are similar businesses

At their core, Nvidia and IonQ are quite close in terms of business pursuit. Nvidia makes graphics processing units (GPUs) alongside other equipment to optimize their performance. GPUs have become the gold standard in high-performance computing applications such as artificial intelligence, drug discovery, engineering simulations, and cryptocurrency mining. Their unique ability to process multiple calculations in parallel makes them a computing powerhouse, and AI hyperscalers have widely deployed them to train and run generative AI models.

IonQ appears to be a much earlier version of Nvidia, focusing on quantum computing rather than traditional computing methods. It’s developing a full-stack solution that provides clients with everything they need to run a quantum computer. Once quantum computing becomes mainstream, many believe it can have widespread use cases in applications like AI training and logistics network improvements. This could lead to a massive market opportunity, similar to what Nvidia experienced at the start of the AI arms race.

However, we’re still a ways away from quantum computing becoming relevant. IonQ and many other quantum computing companies point toward 2030 as the year when quantum computing will become a commercially viable technology. That’s five years out, and there’s still a lot of time for things to go wrong for IonQ (or go right).

IonQ competitor Rigetti Computing estimates that the annual value for quantum computing providers will reach $15 billion to $30 billion between 2030 and 2040. Should IonQ replicate Nvidia’s success by 2030, it could still have room to grow between now and then.

If we assume that the market reaches $15 billion annually in 2030 and IonQ replicates Nvidia’s dominant 90% market share and 50% profit margin, IonQ would be producing profits of $6.75 billion. At a 40 times earnings valuation, that would indicate IonQ could be a $270 billion company, more than a 10x from today’s $23 billion valuation.

But is that enough to warrant selling Nvidia shares to invest in IonQ?

Nvidia has a growth trend of its own

Over the next few years, capital expenditures relating to AI data centers are set to explode. Nvidia estimates that total capital expenditures in 2025 will total $600 billion, but reach $3 trillion to $4 trillion by 2030. If that plays out like Nvidia projects, the total amount of money spent on data center capital expenditures will rise at a compound annual growth rate of 42%. If Nvidia’s growth directly follows that trajectory, that means its stock could rise nearly 6 times in value.

So, which is more likely: Quantum computing becomes viable, IonQ establishes a dominant, Nvidia-like market share and achieves incredibly high margins, or Nvidia’s growth follows widely accepted AI spending trends? I think it’s more likely that the AI arms race continues in its current form, making holding on to Nvidia shares a smart decision. After all of the quantum computing investment hype, I think it’s time for investors to take a break from this sector and focus on some companies that have actual money flowing into them, rather than quantum computing-specific businesses like IonQ.

Quantum computing stocks have been on an absolute tear recently as their companies announced major contract wins. But that was all topped off by JPMorgan Chase‘s announcement this week that it’s investing $10 billion into strategic tech companies. That includes quantum computing businesses. But for quantum computing stocks to rise around 20% (some more, some less) following that news is troublesome.

No specific investment was announced in any of these companies, and other massive industries were listed in the release — such as supply chain and advanced manufacturing, defense and aerospace, energy technology, and frontier and strategic technologies (where quantum computing was lumped in). This raises concerns about the short-term nature of the quantum computing market. The combined rise of all quantum computing stocks was more than the overall $10 billion investment announced by JPMorgan Chase, so there’s clearly not enough to go around.

Observers have begun to speculate that there may be a quantum computing bubble forming. So is now the time to sell? I think Warren Buffett has some great advice for investors on what they should do.

Image source: Getty Images.

Warren Buffett has seen a bubble or two in his career

Warren Buffett is the legendary CEO of Berkshire Hathaway, a position he has held since he took control of the company in 1965. Over the years, Buffett has given investors several great pieces of wisdom, and I think one quote is applicable right now. He wrote that his goal was to “attempt to be fearful when others are greedy and to be greedy only when others are fearful.”

There are clearly many signs of greed in the quantum computing market. As mentioned above, many of the quantum computing stocks rose by a massive amount in response to a nonspecific announcement that JPMorgan Chase would invest in emerging technologies.

Furthermore, we’re still years away from quantum computing viability. Most competitors point toward 2030 as the likely turning point in quantum computing’s commercial relevance, and that’s still five years away. Five years ago, we were in the beginning stages of the COVID-19 pandemic, and nobody (outside of a handful of companies) had ever heard the term generative AI. It’s impossible to know what will happen in the field over the next five years, or which companies will be the winners.

Most of the investment dollars flowing into the quantum computing space have centered around the pure plays. Still, there are also legacy tech players, like Alphabet, Microsoft, and IBM, which have nearly unlimited resources compared to pure plays like IonQ (IONQ -3.92%) or Rigetti Computing (RGTI -3.01%). It’s still an uphill battle for IonQ and Rigetti, and just because the big tech players aren’t saying anything doesn’t mean they aren’t experiencing success.

Companies like IonQ and Rigetti Computing are still years away from profits, and have to rely on government contracts and stock issuance to continue to fund their operations. As a result, they must issue a news release on any piece of positive news they can to let investors know about their successes. The big tech companies like Alphabet, IBM, and Microsoft can afford to stay silent about any breakthroughs, as they’re internally funding their research.

The big tech players may be far more advanced than the pure plays, even if nobody outside of those companies knows it yet. I think this could be setting up some of the pure-play stocks for failure, and their shareholders should take action.

Taking some profits in an increasingly frothy industry is a smart move

Another Warren Buffett quote is applicable in this situation, too: “The first rule in investment is ‘Don’t lose.’ And the second rule in investment is ‘Don’t forget the first rule.'” Investors have already made a significant amount of money on the quantum computing trade, and while it’s possible these stocks could continue rising, a crash may be around the corner.

If you’ve invested in these stocks at any time this year, it may be time to at least trim some of them, as it’s unlikely that they’ll continue rising forever. By taking some profits now, you can be well positioned to deploy them back into the industry if it returns to earth.

Nobody ever lost money by selling a stock at a profit, although they have lost out on even larger returns. Still, I think the risk is greater than the reward, and it may be a wise time to take some profits off the table.

Joel R Mogy Investment Counsel (JMIC) disclosed in an October 16, 2025, SEC filing that it sold 20,929 Adobe shares during Q3 2025.

This was an estimated $7.51 million trade based on the average price for Q3 2025.

What happened

Joel R Mogy Investment Counsel reported a reduction in its position in Adobe (ADBE 1.30%), selling 20,929 shares during Q3 2025.

The estimated value of the sale, based on the average closing price for Q3 2025, was approximately $7.51 million.

The position now stands at 50,664 shares as of Q3 2025, according to the firm’s SEC Form 13-F filed on October 16, 2025.

What else to know

The fund’s post-sale Adobe stake represents 0.98% of its $1.83 billion reportable U.S. equity AUM as of September 30, 2025, down from 1.60% in the previous period

JMIC’s top holdings after the filing:

1. Nvidia: $257.28 million (14.1% of AUM) as of September 30, 2025
2. Alphabet: $158.37 million (8.68% of AUM) as of September 30, 2025
3. Apple: $155.49 million (8.52% of AUM) as of September 30, 2025
4. Microsoft: $148.56 million (8.14% of AUM) as of September 30, 2025
5. Costco Wholesale: $91.43 million (5.0% of AUM)

As of October 15, 2025, Adobe shares were priced at $330.63, marking a one-year decline of 34.9% and underperforming the S&P 500 by 49 percentage points.

Company Overview

Company Snapshot

Adobe offers software solutions, including Creative Cloud, Document Cloud, and a suite of digital experience and publishing tools; primary revenue is generated through recurring subscription services.

It operates a cloud-based, subscription-driven business model, selling directly to enterprises and end users as well as through a global partner network.

The company serves content creators, marketers, enterprises, and creative professionals across industries worldwide.

Adobe Inc. is a leading global software company specializing in creative, document, and digital experience solutions.

Foolish take

Joel R Mogy Investment Counsel (JMIC) had been steadily accumulating shares over the last few years, with the firm having a 2.5% portfolio allocation in Adobe just two years ago.

However, the company has sold shares of Adobe in the last two quarters — and heavily in its latest quarter.

With Adobe’s stock down 52% from its all-time high, it certainly seems as though JMIC is worried about the long-term future of the company.

Adobe has become an artificial intelligence (AI) battleground stock lately. The market seems torn as to whether the AI revolution will empower — or completely disrupt — the company’s creative operations.

For instance, OpenAI recently launched its Sora 2 model that lets users create short video clips from text. It doesn’t take a wild leap to imagine how this could directly hinder Adobe’s video editing and software businesses.

That said, Adobe has grown sales by 11% over the last year and is seeing the professional use cases for its video capabilities remain as robust as ever. Furthermore, the company has its Adobe Firefly unit, which is its own generative AI offering for creators — so it’s not exactly being blindsided by peers like OpenAI.

Trading at just 15 times free cash flow, Adobe could be a tremendous value investment at today’s price, but it looks like JMIC doesn’t want to risk waiting to find out if the company gets disrupted or not.

Glossary

AUM (Assets Under Management): The total market value of all investments managed by a fund or investment firm.
Form 13-F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
Q3: The third quarter of a company’s fiscal year, typically covering July through September.
Reportable U.S. equity assets: U.S. stocks and related securities that must be disclosed in regulatory filings.
Top holdings: The largest individual investments in a fund’s portfolio, usually ranked by market value.
Stake: The ownership interest or number of shares a fund or investor holds in a company.
Subscription-driven business model: A model where customers pay recurring fees for ongoing access to products or services.
Global partner network: A group of companies or organizations worldwide that help distribute or sell a firm’s products.
TTM: The 12-month period ending with the most recent quarterly report.

Argent Capital Management LLC pared its holding in Copart (CPRT 1.70%) by 1,262,984 shares during Q3 2025, an estimated $59.52 million trade based on the average price for the quarter, according to an SEC filing dated October 14, 2025.

What happened

According to its Form 13-F filed with the Securities and Exchange Commission on October 14, 2025 (see filing), the firm reduced its Copart position by 1,262,984 shares during Q3 2025.

The estimated value of the shares sold, calculated using the period’s average closing price, was $59.52 million. The fund reported a remaining position of 162,339 shares at quarter-end.

What else to know

This was a reduction in the Copart stake, which now represents 0.2% of the firm’s 13F reportable assets under management as of Q3 2025.

Argent’s top holdings after the filing:

• Microsoft: $251.95 million (6.9% of AUM as of 2025-09-30)
• Nvidia: $237.98 million (6.5% of AUM as of 2025-09-30)
• Amazon: $213.08 million (5.8% of AUM as of 2025-09-30)
• Alphabet: $194.75 million (5.3% of AUM as of 2025-09-30)
• Mastercard: $126.28 million (3.5% of AUM as of 2025-09-30)

As of October 13, 2025, Copart shares were priced at $44.07, down 20% over the one-year period ending October 13, 2025, underperforming the S&P 500 by 36 percentage points over the same time.

Company Overview

Company Snapshot

Copart provides online auctions and vehicle remarketing services, including virtual bidding, salvage estimation, and end-of-life vehicle processing across North America, Europe, and select international markets.

It operates a digital marketplace facilitating the sale and purchase of vehicles, generating revenue through transaction fees, service charges, and value-added offerings such as vehicle transportation and title processing.

The company serves insurance companies, banks, fleet operators, dealerships, vehicle dismantlers, exporters, and individual buyers seeking to acquire or dispose of vehicles efficiently.

Copart, Inc. provides online auctions and vehicle remarketing services internationally, leveraging advanced virtual auction technology to connect sellers and buyers of vehicles across multiple continents. With a scalable digital platform and a comprehensive suite of remarketing and logistics services, Copart enables efficient disposition of vehicles for institutional and individual clients alike.

Foolish take

While Argent Capital Management still holds a few shares of Copart, the firm all but sold out of its position, reducing its portfolio allocation in the stock from 2% to 0.2%.

Since the stock seemed to be a longer-term holding for Argent, this seems mildly worrisome to Copart shareholders — myself included.

Though it’s impossible to know what exactly prompted the firm to nearly liquidate its holdings in the company, Copart’s results have been underwhelming this year, causing its slightly expensive stock to slide 30% from its high.

After growing sales by 15% annually over the last decade, Copart’s revenue growth slid to 13%, 7%, and finally 5% over the previous three quarters.

Ultimately, I’ll have to disagree with Argent on Copart as I believe the company has a wide moat around its operations that will make it hard to disrupt.

That said, Copart still trades at 28 times earnings, even after this year’s drop, so Argent may have simply thought it had grown beyond its valuation as a more mature company.

Glossary

13F reportable AUM: Assets under management that must be disclosed by institutional investment managers in quarterly SEC Form 13F filings.
Form 13-F: A quarterly SEC filing by institutional investment managers listing their U.S. equity holdings.
Quarter (Q3 2025): The third three-month period of a company’s fiscal year, here referring to July–September 2025.
Transaction value: The total dollar amount generated by a specific buy or sell trade.
Stake: The ownership interest or investment a fund or individual holds in a particular company.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Digital marketplace: An online platform where buyers and sellers conduct transactions for goods or services, such as vehicles.
Vehicle remarketing: The process of reselling used or end-of-lease vehicles, often through auctions or specialized platforms.
Salvage estimation: The process of assessing the value of damaged or end-of-life vehicles for resale or parts.
End-of-life vehicle processing: Handling and disposing of vehicles that are no longer operational, often for recycling or parts.
Value-added offerings: Additional services provided beyond basic transactions, such as transportation or title processing, to enhance customer value.
TTM: The 12-month period ending with the most recent quarterly report.

A delegation from Kyiv was in Washington this week to work out the details of what could be a huge deal to sell the U.S. tens of millions of drones. After nearly four years of brutal all-out war with Russia, Ukraine is a world leader in some types of uncrewed weapons technology, and there is increasing demand for these systems. 

The potential deal has the support of both U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky.

Ukrainian military officials said they presented U.S. counterparts with the latest developments in their drone tech as well as proposals for “specific models, their effectiveness and conditions of use,” according to the Ukrainian Defense Ministry. 

The MoD did not provide details about exactly what kinds of systems were discussed. We’ve reached out to the Pentagon and Ukrainian officials for more information.

“The American team noted Ukraine’s expertise in developing the drone industry – the production of not only UAVs, but also sea drones and ground robotic complexes,” the MoD explained. “The negotiations of the technical teams became a preparatory stage for the signing of the Drone Deal agreement,” previously announced by Zelensky.

Ukraine is “working on the issue of exports – controlled exports of our weapons, some types that we have in surplus, which can really give Ukraine additional finances for the production of scarce items that are so needed on the front now, and those that have shown themselves best in strikes deep into Russian territory,” Zelensky said in his evening message on Wednesday. “There are already agreements on four export platforms: the United States of America, Europe, the Middle East, and also Africa. We will prepare the appropriate agreements.”

Zelensky had previously said Kyiv had proposed a five-year, $50 billion framework “that would involve producing up to 10 million drones annually, with the program not expected to take effect until the war with Russia ends,” the Kyiv Post noted. It is unclear if the drone deal is part of an exchange for weapons from the U.S. or another type of compensation deal.

We have reached out to the White House for comment.

The U.S. military is already testing out Ukrainian long-range attack drones that Kyiv has used to great effect in attacks on Russian oil and gas infrastructure. You can see one of those attacks in the video below.

As we have frequently reported, Ukraine has developed weapons like Baba Yaga bomber drones, many types of first-person view (FPV) drones, Magura uncrewed surface vessels (USVs) with a wide range of capabilities and several models of ground drones. Just as importantly, Ukraine has also developed the tactics and techniques to use these weapons in an evolving changing battlespace. This includes incorporating emerging artificial intelligence capabilities into some of its drone systems.

You can see a Magura V7 USV, armed with a pair of AIM-9 Sidewinder infrared-guided air-to-air missiles, shoot down a Russian Su-30 Flanker fighter flying over the Black Sea in the following video.

Some of this could be of great value to the U.S., which makes more exquisite, complex and expensive drones, but in numbers that pale in comparison to what Ukraine produces. America is very far behind in its development and use of some drones types at scale and this deal could help change that. However, it also benefits Kyiv in several ways, a top Ukrainian defense official told us.

“I truly believe we can support this, because it is a win-win for both nations,” Andriy Hyrtseniuk, the new head of Ukraine’s Brave1 defense tech incubator, told The War Zone in an exclusive interview in August. “This is a very good deal that needs to be concluded with the best conditions for both sides.”

Hyrtsenuik said not only does he have confidence that Ukraine has the capacity to supply the U.S. with drones, but such a deal would have major benefits for Kyiv beyond a massive infusion of funds.

“Joint ventures between the companies and teams from both parties will allow us to create even more effective and better solutions,” he noted.

The parameters of this deal are being worked out as Trump has seemingly changed his stance toward Russia after failing to secure a pathway to peace, moving strongly in favor of Ukraine’s point of view. Following his meeting with Russian President Vladimir Putin in Alaska last month, Trump seemed far more amenable to Moscow’s point of view. However, the American leader’s messaging appears to be moving strongly in favor of Kyiv, calling Russia a “paper tiger.”

As we noted last week, Trump’s change of heart could result in massive policy shifts. Yesterday, reports emerged indicating the U.S. has agreed to provide Ukraine with targeting intelligence for the aforementioned long-range strikes against Russian energy infrastructure. These attacks are depriving Russia of critical resources to fight Ukraine and raise revenue. You can read more about that in the story we published today here.

The Trump administration will provide Ukraine with intelligence for long-range missile strikes on Russia’s energy infrastructure https://t.co/OvFWtNimXY

— The Wall Street Journal (@WSJ) October 1, 2025

In addition to talking about the drone deal, Ukrainian officials also discussed the Prioritized Ukraine Requirements List (PURL) initiative. Created by the U.S. and NATO in August, PURL sells U.S. weaponry to NATO, which then provides it to Ukraine.

“Six NATO member states have already funded four defense support packages for Ukraine totaling more than $2 billion,” under PURL, Zelensky’s office said.

Deliveries of the first two packages began in mid-September. In addition, the United States has already finalized with Canada and Germany the composition of the third and fourth packages.

“The initiative is working, providing very active assistance – it is precisely the mechanism that allows us to purchase American weapons with funding from our NATO partners,” Zelensky said. “These include items such as missiles for Patriots and missiles for HIMARS.”

It will take several months for the drone deal to be finalized, if it comes together at all. Given that it all depends on the war ending, it may be years to kick off, even if a deal is worked out.

Regardless of whether this sees the light of day, the drone deal being discussed is a major sign of how far ahead Ukraine is from the rest of the world when it comes to uncrewed weapons. It also highlights how the U.S. has a long way to go to ramp up its production of drones, something we have discussed at length. Leveraging Ukrainian production and expertise, as well as battle-tested tactics and systems, could give the U.S. a jump start on certain drone capabilities, especially on the lower-end of the capability spectrum.

Contact the author: [email protected]

Sept. 25 (UPI) — Apple released a statement on the effects of the European Commission’s Digital Markets Act saying the law puts Apple users in the European Union at a disadvantage and that it could prevent the company from selling its products there.

Apple’s statement on Wednesday listed in detail why it believes the DMA causes harm to users as well as Apple itself. Chiefly, the DMA requires Apple to make its apps available on other markets and to other devices as well as allow other apps on its App Store, which Apple said causes increased security and privacy issues.

The DMA became law in November 2022. It says that companies must make digital markets more open and fair. The EU called for a review of the legislation that was designed to control the monopolistic power of large tech companies in their search engines, app providers and messaging services.

For example, the DMA requires that Apple users be able to use other brands of headphones besides those made by Apple. Apple said this has delayed the launch of Live Translation in the EU because of a threat to user privacy.

“We designed Live Translation so that our users’ conversations stay private — they’re processed on device and are never accessible to Apple — and our teams are doing additional engineering work to make sure they won’t be exposed to other companies or developers either,” the statement said.

With iPhone mirroring, users can see and interact with their iPhones on their Macs. But “our teams still have not found a secure way to bring this feature to non-Apple devices without putting all the data on a user’s iPhone at risk. And as a result, we have not been able to bring the feature to the EU,” Apple said.

Apple also alleged unfair competition and the ability of other companies to steal its technology.

“Instead of competing by innovating, already successful companies are twisting the law to suit their own agendas — to collect more data from EU citizens, or to get Apple’s technology for free,” it said in the statement.

Apple and the EU have clashed for years. In July, Apple appealed a $580 million fine that the EU levied against the company for DMA violations.

In August, President Donald Trump used tariffs to threaten retaliation for rules that affect American tech companies, though he didn’t specify which countries.

“I will stand up to Countries that attack our incredible American Tech Companies. Digital Taxes, Digital Services Legislation, and Digital Markets Regulations are all designed to harm, or discriminate against, American Technology. They also, outrageously, give a complete pass to China’s largest Tech Companies. This must end, and end NOW!” he said on Truth Social.

Costco Wholesale (COST -0.78%) is not only one of America’s favorite retailers. It’s also been a top retail stock to own over its history.

Over the last decade, it’s up 570%, easily outpacing the S&P 500‘s increase of 240%, and most investors would argue that Costco is lower-risk than the broad-based index. After all, the retailer is a classic defensive stock. As a consumer staples company, it sells primarily products that people need, like groceries, paper products, and health and beauty products. It’s also known for its buy-in-bulk bargain prices, which attract consumers in both good times and bad.

Costco has actually underperformed the market this year as it’s up just 4% through Sept. 19, pulling back from its recent peak. Is this a buying opportunity for the retail giant? Let’s take a look at the arguments to buy, sell, or hold Costco.

Image source: Getty Images.

Buy Costco

Costco is one of the most, if not the most, reliable retailers in the industry. It’s the leader in the membership-based warehouse retail sector, well ahead of competitors like BJ Wholesale and Walmart‘s Sam’s Club.

Costco regularly ranks among the top in customer satisfaction among retailers, and it has a strong renewal rate, at 93% in fiscal 2024 in North America and 90.5% globally.

Costco’s business model has also proven to be rock-solid in any market, and its low prices keep customers coming back. The company makes most of its net income through membership fees, essentially selling goods at near-cost to incentivize buying memberships.

That’s created a wide economic moat as it has grown its membership base by about 10% annually in recent years. Costco is also continuing to open new stores, expanding its footprint in the U.S. and internationally. Given the demand for new stores, as well as its growth in e-commerce, Costco’s growth runway appears to be longer than it is for most large retailers.

And given the stability of its business, Costco is a great bet to deliver steady growth, which is why it trades at a premium.

Additionally, Costco also has a track record of paying special dividends every three years or so, rewarding shareholders.

Sell Costco

Costco’s results speak for themselves. The company has a long track record of delivering steady same-store sales growth and expanding profits.

However, Costco’s growth seems to be generously priced into the stock at this point as it trades at a price-to-earnings ratio of 54, which is more expensive than about any other brick-and-mortar retailer.

Costco trades at a premium in part because the business is so reliable, but the stock’s growth has been driven over the years by multiple expansion, rather than just earnings growth. A stock can’t grow like that forever, and that might explain why Costco has underperformed the S&P 500 this year.

A good business alone isn’t enough of a reason to buy a stock. It has to trade at a good value as well.

Hold Costco

Costco is a classic buy-and-hold stock. While it could go through ups and downs according to market trends and company-specific events, it has a business model that should continue to endure despite pressure from e-commerce or potential economic turmoil.

Given the balance between the success of the business and the high valuation, holding the stock makes sense.

What’s the verdict?

Under normal circumstances, there’s a good argument for Costco being a long-term buy, but the stock is expensive enough, at double the price-to-earnings ratio of the S&P 500, that there’s better value to find elsewhere.

Holding Costco looks like the best option now. While it could underperform the market in the short or even medium term, it still looks like a winner over the long term.

Warren Buffett was onto something when he said that his “favorite holding period is forever.” Like Buffett, I prefer to buy stocks that I hope to be able to own for a long time.

The “Oracle of Omaha” and I share another thing in common: We both like dividend stocks. Over the long run, dividends can boost total returns significantly. Do I own any “forever” dividend stocks? Yep. Here are three income stocks I never plan to sell.

Image source: Getty Images.

1. AbbVie

Dividend Kings, an elite group of stocks that have increased their dividends for at least 50 consecutive years, are natural candidates to buy and hold. I think AbbVie (ABBV 0.19%) is one of the best Dividend Kings of all. The drugmaker has increased its dividend for 53 consecutive years. Its forward dividend yield is 2.95%, which is lower than the average over the last five years only because AbbVie’s stock has performed really well.

AbbVie makes therapies that target over 75 conditions. Its top-selling products treat autoimmune diseases, cancer, and neurological disorders. With an aging population, I expect the demand for safe and effective drugs for these therapeutic areas will continue to grow over the next few decades.

Probably the biggest risk for an established pharmaceutical company like AbbVie is that it won’t be able to successfully navigate a patent cliff. However, AbbVie has already demonstrated its ability to handle key patent expirations with ease.

Humira was once the top-selling drug in the world, but its sales began to plunge after biosimilar rivals entered the U.S. market in 2023. AbbVie didn’t skip a beat, though. The company already had two successors to Humira on the market. It had also reduced its dependence on its top blockbuster drug through strategic acquisitions and internal development. I’m confident that AbbVie will be able to survive and thrive when future losses of exclusivity come, too.

2. Brookfield Infrastructure Partners

Brookfield Infrastructure Partners (BIP -0.52%)has grown its distribution by a compound annual growth rate of 9% over the last 16 years. Its distribution yield tops 5.5%. That’s the kind of income that many investors would love to keep flowing and growing. I know I do.

The good news is that Brookfield Infrastructure is targeting average annual distribution growth of between 5% and 9%. Even better news is that its business should support this growth.

This limited partnership owns cell towers, data centers, electricity transmission lines, pipelines, rail, terminals, toll roads, and other infrastructure assets on five continents. These assets generate steady cash flow, with 85% of Brookfield Infrastructure’s funds from operations (FFO) contracted or regulated.

What I especially like about Brookfield Infrastructure, though, is its overall strategy. The LP buys infrastructure assets when they’re valued attractively. It enhances the value of those assets by managing them well. And when the opportunity arises, Brookfield sells mature assets and recycles the cash into new investments. This approach should work for a long time to come.

3. Realty Income

Realty Income‘s (O 0.17%) forward dividend yield of 5.45% isn’t too far behind Brookfield Infrastructure’s distribution yield. The real estate investment trust (REIT) also has an impressive track record, with 30 consecutive years of dividend increases and 132 monthly dividend increases since listing on the New York Stock Exchange in 1994.

Real estate can be a volatile market. However, Realty Income has demonstrated remarkable stability through up and down economic cycles. It has even delivered a positive operational return (the sum of dividend yield and adjusted FFO) for 29 consecutive years.

Importantly, Realty Income’s portfolio is well diversified. It owns more than 15,600 properties spread across every U.S. state, the U.K. and seven European countries. The REIT’s tenants represent 91 industries.

I expect Realty Income to generate solid growth over the long term, too. Its total addressable market is around $14 trillion. Roughly $8.5 trillion of this opportunity is in Europe, where the REIT faces minimal competition.

Sept. 16 (UPI) — The U.S. Department of Treasury announced Tuesday that it’s sanctioning two Iranian financial facilitators and more than a dozen Hong Kong- and United Arab Emirates-based people and entities for “shadow banking” in support of Iran.

The Treasury Department alleged that these people helped coordinate funds transfers, including from the sale of Iranian oil, that benefited the IRGC-Qods Force and Iran’s Ministry of Defense and Armed Forces Logistics, a press release said.

“Iranian entities rely on shadow banking networks to evade sanctions and move millions through the international financial system,” Under Secretary of the Treasury for Terrorism and Financial Intelligence John K. Hurley said in a statement. “Under President [Donald] Trump’s leadership, we will continue to disrupt these key financial streams that fund Iran’s weapons programs and malign activities in the Middle East and beyond.”

The department said that between 2023 and 2025, Iranian nationals Alireza Derakhshan and Arash Estaki Alivand worked to facilitate the purchase of over $100 million worth of cryptocurrency for oil sales for the Iranian government. Derakhshan and Alivand used a network of front companies in foreign jurisdictions to transfer the cryptocurrency funds, the release said.

The two are now considered “blocked,” meaning all their assets in the United States will be seized, and Americans and their companies can’t do business with them or their businesses.

Besides Derakhshan and Alivand, the department named several other people and businesses that are now blocked from American trade.

Shadow banking is credit intermediation by entities outside the regular banking system, performing bank-like functions, like maturity transformation and liquidity transformation, without the same strict regulatory oversight as traditional banks.

Britain, Germany and France sent a letter in late August to the United Nations Security Council saying they are starting the 30-day process of “snapback” of sanctions against Iran.

The snapback is used to re-impose sanctions on Iran in the event of “significant non-performance” of treaty commitments. The sanctions were suspended under the 2015 Joint Comprehensive Plan of Action nuclear deal.

A PENSIONER is having to sell her home to cover a £113,000 legal bill after losing a five-year dispute over a 1ft strip of land.

Jenny Field, 76, was told to pay £14,000 after her initial court defeat to Pauline Clark, 64, but her repeated challenges saw the total rocket.

A judge has now told her she must pay the resultant £113,126 in three months or flog her £600,000 bungalow in Hamworthy, Dorset, so the cash can be recouped.

The divorcee told a court: “I am selling it because I have to and I’m fed up with living here but I will offer to pay her £1 per week.”

Their feud began in 2020 after Mrs Clark replaced a fence between the properties.

Ms Field claimed it had encroached on her garden and had it demolished, but Mrs Clark sued for damages and won the first case in 2022.

Several appeals followed and Ms Field was accused of wasting time by bombarding the court with papers.

A bid by her to sue for £500,000 in damages was also dismissed as “totally without merit”.

District Judge Ross Fentem said Mrs Clark had been kept from money owed to her for a long time and told Bournemouth county court the order for sale was “a last resort and draconian remedy”.

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This pretty market town, with its high street bursting with boutiques, is delightful even on a rainy day

If there was any doubt that the town we’d stopped in during our long drive was more upmarket than most, it was dispelled as we walked past a shop front for ‘wealth management services’. A fancy patisserie, an antique store and a few wine merchants’ later, our suspicions were confirmed: Topsham in Devon is really posh.

That’s just the uneducated impression of a first-time visitor, but don’t just take my word for it. For years it has been hailed as home to Devon’s poshest pub crawl, while in 2023 it was reported to be home to one of the UK’s most prestigious residential streets, reports Bristol Live.

The market town on the outskirts of Exeter has an enviable position, overlooking the estuary of the River Exe. The boats bobbing along Topsham Quay looked picture-perfect as we arrived, even on a rainy Monday.

Huddled under umbrellas, we searched for somewhere to take shelter from the unexpected downpour, and shuffled into The Boathouse Café just behind the ferry landing. This cosy cafe is apparently known for its crepes, but we discovered it also does a perfect flat white coffee, which was a reasonable (by Bristol standards anyway) £3.50 and set us up for the day nicely.

A break in the clouds tempted us outside again in no time, and we even considered a boat trip as the sun made a brief appearance. You can get a ferry ride for £9 return, with hourly departures listed on the blackboard during the day we visited, although it seems frequency varies from day to day.

It goes back and forth between Topsham Quay and the Turf Hotel, which pitches itself as an “idyllic” spot in an “extraordinary waterside location”. We decided to give that a miss given another turn in the weather, setting out instead for a spot of shopping.

The high street is a short stroll from the water’s edge, though we took a scenic route past some impressive historic buildings along the way and even more jaw-dropping houses – detached homes here sell for an average of £756,042, according to Rightmove. The high street is lined with luxurious-looking boutiques, gift shops and lunch spots, including two that have made it into the Michelin guide.

That said, there are still bargains to be had if you’re shopping on a budget. I can’t resist a charity shop and found three that were open in Topsham, including Estuary League Of Friends where there was an incredible £1 sale rail. Devon Air Ambulance also has a specialist ‘vintage and variety shop’, which was a treasure trove of retro clothing, antiques and homeware.

On a Saturday there is a weekly market at Matthews Hall, described by organisers as having a “glorious mix of stalls” including food, gifts, clothes, vintage and home items. It’s an indoor market, making it another ideal spot for a rainy day.

Elsewhere we loved the look of Country Cheeses cheesemonger, but it wasn’t open on a Monday. The vibrant painted exterior of the Squid and The Kid meant I couldn’t give that a miss, where I could have spent a small fortune on adorable toys and clothing for my toddler.

I was a bit hesitant about finding somewhere family-friendly for lunch, but we had a lovely bite to eat at Route 2 cafe, where there were plenty of high chairs as well as a baby change facility. For something sweet there were bakeries, coffee shops and delis with mouth-watering displays in the window, but we ended up trying Sara’s Petite Cuisine as it has such great reviews online.

After stepping through the pastel-pink entrance I was slightly alarmed to realise there were no prices displayed on the counter, but I felt too embarrassed to check as there were a few customers already seated in the tiny cafe within earshot.

Preparing for a shock to my bank account, I decided on the delicious-looking banoffee cake and was pleasantly surprised by the £4 fee for such a generous portion – I’ve paid more for a cookie at some of Bristol’s trendy bakeries.

We did have a bit of a battle to get the pushchair back out the door past a rather impatient waiting customer who felt no obligation to step aside, but otherwise everyone we encountered was incredibly friendly and welcoming of the obvious imposters in their midst.

How to get there

Topsham is easily accessible from anywhere along the M5, as it’s just 10 minutes from Junction 30. From there it’s straight along the A376 and into the town, where there are a couple of council car parks. We opted for the Holman Way Car Park as it’s bigger than Topsham Quay and a short walk away.

HELEN Flanagan has been forced to slash the price of her £1.5million mansion AGAIN after struggling to sell her family pad amid money woes.

The former Coronation Street star, 35, had already slashed more than £300,000 off the price of the house she shared with ex Scott Sinclair.

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Now Helen has been forced to reduce the price again for a second time after just fourth months of being on the market.

Helen first put the £1.5million six-bedroom family home up for sale in May, before reducing it to £1.195million just four weeks later. 

Now, the detached, 5,000sq ft home can be snapped up for a cheeky £995,000.

The former couple, who have three children together, bought the property at Belmont, near Bolton, in June 2021 for £840,000.

It has five reception rooms, six bathrooms and six bedrooms including two en-suites.

The house is situated on the edge of moors and is said to have “breathtaking views”.

Helen, who has spoken openly about “losing all her money” in the past, recently opened up being forced to downsize.

She said: “It actually makes me sad that I’m going to be leaving soon because I actually put so much effort into it.

“When we moved I put like a lot lot of my savings into doing the house up and making it look really beautiful. 

“But it’s a big house. It’s an eight bedroom house, which is obviously really hard to keep on top of.”

Meanwhile, Helen has shown off her evil stepmother credentials as she debuted her panto outfit for the first time.

The actress will play the evil stepmother in Snow White & The Seven Dwarfs at Liverpool‘s M&S Bank Arena in December.

The stunning star donned a sequinned red and black dress, with black feathered sleeves, and wore a gold and red diamante tiara on her head.

She also held aloft a red apple, symbolic of the poisonous apple so relevant to the Snow White storyline.

A source previously told The Sun: “Helen is excited for panto season and can’t wait to get into character, she’s a brilliant actress and knows how to put on a show.

“She’ll also be pocketing a pretty penny, celebrities and soap stars make good money doing panto and always look forward to it as some extra income.”

But despite being about to make her first foray into the world of pantomime, Helen is not looking forward to being alone this Christmas.

Helen, shares daughters Matilda, nine, Delilah, six, as well as four-year-old son Charlie, with her ex Scott Sinclair.

However, the ex-Coronation Street star also recently told The Sun that she was spending Christmas without her children this year, as she and former Chelsea footballer Scott, who most recently played for Bristol Rovers, live so far apart.

But Helen explained: “”I’ll do something in November – a really nice long weekend then I feel like I’ve had my Christmas period with them.”

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Over the past century, no asset class has rivaled the annualized return of stocks. But when the lens is narrowed to just the trailing decade, cryptocurrencies have absolutely crushed the benchmark S&P 500 in the annualized return column.

Though Bitcoin (BTC 0.46%) has led the way with its first-mover advantages, it’s XRP (XRP 0.56%) that’s been flying the highest of all the major digital assets of late. Over the trailing-12-month period, XRP has practically quintupled, up 396%, while Bitcoin has gained a more “modest” 84%, as of the late evening on Aug. 29.

Whereas stocks tend to ebb and flow because of tangible financial metrics, such as their operating results and prevailing economic data, emotions and hype are known to move digital currencies. There’s little question that anticipation and hype have helped lift XRP to a more than seven-year high. The question is: Will the old Wall Street adage “buy the rumor, sell the news” put an end to this monstrous rally in the world’s No. 3 digital asset?

Image source: Getty Images.

XRP entered 2025 in an ideal situation

Whereas Murphy’s Law states that “anything that can go wrong, will go wrong,” XRP has had virtually everything go its way since early November 2024.

In November, Donald Trump won the presidency, which was viewed as a positive for most cryptocurrencies. Aside from Trump’s tinkering with the idea of a Bitcoin strategic reserve during his campaign, he was viewed as the friendliest presidential candidate to the crypto industry.

Since Trump’s inauguration, he’s signed the Genius Act into law, which established stablecoin backing and redemption standards, audit requirements, and federal oversight for the largest stablecoin issuers. While this doesn’t directly affect XRP, it paints a picture of an administration that’s willing to remove tight restrictions that had previously been placed on digital assets.

Another hyped event for XRP has been the expected approval of a spot XRP exchange-traded fund (ETF). A crypto spot ETF gives a buyer exposure to a specific digital asset without having to directly purchase it on a crypto exchange. In turn, buyers would pay a nominal fee (the net expense ratio) that covers the management and marketing costs for the fund.

When spot Bitcoin ETFs were first approved, massive cash inflows were observed for weeks. If spot XRP ETFs were to get the nod from the Securities and Exchange Commission (SEC) come October, a similar multiweek period of cash inflows would be expected.

However, the most-hyped event of all was the expected end to five years of litigation and appeals between the SEC and Ripple regarding whether or not Ripple sold XRP as an unregistered security. Ripple is the largest holder of XRP coins and is the company utilizing XRP as its intermediary payment token on RippleNet.

Last month, the SEC and Ripple agreed to drop their respective appeals. The news investors had waited years for had finally arrived — and so has the selling pressure on XRP.

XRP’s faults may be difficult to mask without a carrot at the end of the stick

Since the SEC sued Ripple in 2020, ending this litigation had been viewed as the carrot at the end of the stick that kept the hype train rolling. But with the appeal process over, sweeping XRP’s tangible faults under the rug could be tougher than ever before.

On paper, the lure of XRP is that it can assist with the rapid settlement of cross-border payments. The XRP Ledger is capable of validating and settling transactions in roughly three to five seconds, with payments costing just a fraction of a penny. This is considerably more palatable than the decades-long standard for cross-border payments. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) can take days to settle international payments and is much costlier per transaction.

But there are some big-time caveats and catches to this seemingly slam-dunk thesis.

Image source: Getty Images.

For starters, banks aren’t required to use XRP as an intermediary on Ripple’s payment networks. If global financial institutions use Ripple’s payment network but not XRP, demand for XRP tokens will likely be insufficient to support its nearly 400% price appreciation over the trailing year.

The adoption rate for RippleNet isn’t all that impressive, either. Whereas more than 11,000 financial institutions are using SWIFT as their preferred cross-border payment solution, only an estimated 300 global financial institutions are relying on RippleNet in some capacity. While some investors might view this as a glass-half-full opportunity for RippleNet to gain share over time, it also speaks to the ironclad grip the SWIFT network has on international payments.

This is a good time to note that XRP lacks standalone value. Unlike Bitcoin, which can be used as a form of payment and is often viewed as an inflationary hedge amid a steadily increasing U.S. money supply, there is no standalone use case for XRP, save as an intermediary for some transactions on Ripple’s payment platform.

Lastly, XRP isn’t even guaranteed to be the preferred cross-border payment coin. Though there’s no denying it’s connections to larger financial institutions, Solana offers notably faster and inexpensive transaction settlement. In addition, peer-to-peer payment platform Stellar can settle payments just as quickly as XRP.

With XRP’s big event now firmly in the rearview mirror, profit-taking may be the new norm.

CHELSEA are willing to send out Raheem Sterling on loan again – as they try to shift up to TEN players before the transfer window closes.

Both the Blues and Sterling would prefer to find a permanent deal.

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But they equally want to avoid the kind of last-minute scramble that sent the England international to Arsenal last season.

Chelsea are seeking to offload Sterling, Nicolas Jackson, Christopher Nkunku, Axel Disasi, Renato Veiga, Carney Chukwuemeka, David Datro Fofana and Ben Chilwell in the next fortnight.

Young winger Tyrique George could also be on the way out, while defender Aaron Anselmino is surplus to the current requirements of boss Enzo Maresca.

Sterling has two years left on a contract worth more than £300,000 per week.

Chelsea ended up paying a significant proportion of those wages last season as part of an 11th-hour deal with the Gunners on transfer deadline day.

Sterling would prefer to stay in England and preferably in the London area. Son Thiago, eight, signing for Arsenal’s academy earlier this summer.

Fulham have shown interest but it is yet to turn into a concrete offer, and oversea clubs including Napoli have also been linked to the winger..

Chelsea still want to bring more new players IN to the club, despite already spending more than £240m this summer.

BEST FREE BETS AND BETTING SIGN UP OFFERS

They have recouped £200m in sales by moving on players like Noni Madueke, who joined Arsenal for £52m.

But the Blues will need to sell in order to feel comfortable about making deals for Manchester United’s Alejandro Garnacho and RB Leipzig’s Xavi Simons.

So far Chelsea have struggled to find clubs willing to match their valuations for Jackson, Nkunku, Veiga, Chuwuemeka and Disasi.

And although the Blues would prefer to sell them all if possible, they are now open to loan deals with obligations or options to buy for at least some of them.

Napoli could now join Newcastle, Aston Villa, Juventus and AC Milan among the potential suitors for Jackson, after former Chelsea striker Romelu Lukaku suffered an injury.

But the Blues are struggling to create a competitive market for their other unwanted stars.

THEN THERE WERE 10 – CHELSEA OUTCASTS

Duds ready to go – and where they could end up…

• Nicolas Jackson – Newcastle, Aston Villa, Juventus, AC Milan, Napoli

• Christopher Nkunku – Bayern Munich

• Renato Veiga – Villarreal

• Carney Chukwuemeka – Borussia Dortmund

• Axel Disasi – Wolves, Ajax

• Raheem Sterling – Fulham, Napoli

• David Datro Fofana – Wolves, Nice, Toulouse

• Tyrique George – Borussia Monchengladbach

• Aaron Anselmino – Real Betis

LIDL will be selling a Thermomix dupe that is significantly cheaper than the original.

Savings of more than £1,000 can be made with this middle aisle purchase from the discount retailer.

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Lidl is about to sell a dupe of the Thermomix worth £1,349 for just £299 for Lidl Plus customers.

Called the Monsieur Cuisine Smart, this exciting kitchen appliance will be in stores from Thursday, September 4.

It is a multi-functional device that can be used for everything you need, from food processing, cooking, searing, steaming, kneading, blending, and stirring.

There are even programming options available for it to chop, shred, grind, pure or emulsify ingredients.

You can therefore make anything from soups, sauces, or vegetable, meat or noodle dishes.

The smart device has WiFi functions that provides free monthly recipe updates with a registered user account, along with over 600 pre-installed recipes with step-by-step instructions through its cooking pilot.

There is also guided video cooking for selected recipes, that can be played on its fast-reacting 8-inch display screen.

On top of that, there is voice control capabilities that can be activated via Google Assistant.

Kitchen scales have been integrated into the device to enable weighing of ingredients that have been placed directly into the pot.

With 1000W power, up to 1kg of dough can be processes, through 10 speed settings including turbo function for pulse blending.

Kneading dough or stirring soups and stews can be carried out in the anti-clockwise motion the Monsieur Cuisine provides.

Furthermore, its facilitates precise cooking with temperatures from 37-130C that can be set in five degree increments.

There is also a 99 minute timer.

All the accessories are dishwasher safe, including the 4.5L stainless steel blender jug and various attachments that include a steamer, blade, and mixer.

The product is exclusively available for Lidl Plus customers to reserve from August 21 to 25 on the Lidl Plus App.

Regular customers can then purchase the Monsieur Cuisine once they are available in store next month.

Lidl’s version of the Thermomix seems to come with many functionalities of the original, at a much more affordable price.

This deal comes after Lidl was also found selling another kitchen appliance that can be used for baking at a price £400 cheaper than others.

It was their Silvercrest Kitchen Tools Stand Mixer, that was sold for only £49.99.

The budget-friendly retailer also had XL dual view air fryer available for just £79.99 this summer.

Lidl’s 15L Salter air fryer was half the price of Curry’s version, with six cooking functions and a sleek LED display.

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United States President Donald Trump and his Russian counterpart Vladimir Putin are set to meet in Anchorage, Alaska, on Friday to discuss how to end the war in Ukraine.

On Wednesday, following a virtual meeting with European leaders including Ukrainian President Volodymyr Zelenskyy, Trump warned of “severe consequences” if Putin refuses to accept a ceasefire after more than three years of war.

The venue for the high-profile meeting is Joint Base Elmendorf-Richardson, a US military installation on the northern edge of Alaska’s most populous city.

Joint Base Elmendorf-Richardson is Alaska’s largest military base. The 64,000-acre outfit is a key US site for Arctic military drills and readiness.

When Trump visited the base during his first term, in 2019, he said the troops there “serve in our country’s last frontier as America’s first line of defence”.

But that wasn’t always the case. Indeed, the US government actually bought Alaska from Russia – separated by just 90km (55 miles) at the narrowest point of the Bering Strait – in 1867.

At a news briefing on August 9, Russian presidential assistant Yuri Ushakov pointed out that the two countries are neighbours.

“It seems quite logical for our delegation simply to fly over the Bering Strait and for such an important … summit of the leaders of the two countries to be held in Alaska,” Ushakov said.

When did Russia assume control of Alaska?

When Russian Tsar Peter the Great dispatched the Danish navigator Vitus Bering in 1725 to explore the Alaskan coast, Russia already had a high interest in the region, which was rich in natural resources – including lucrative sea otter pelts – and sparsely populated.

Then, in 1799, Emperor Paul I granted the “Russian-American Company” a monopoly over governance in Alaska. This state-sponsored group established settlements like Sitka, which became the colonial capital after Russia ruthlessly overcame the native Tlingit tribe in 1804.

Russia’s Alaskan ambitions, however, quickly faced numerous challenges – the vast distance from then-capital St Petersburg, harsh climates, supply shortages, and growing competition from American explorers.

As the US expanded westward in the early 1800s, Americans soon found themselves toe to toe with Russian traders. What’s more, Russia lacked the resources to support major settlements and a military presence along the Pacific coast.

The history of the region then changed dramatically in the mid-19th century.

Why did Russia sell Alaska after the Crimean War?

The Crimean War (1853-1856) started when Russia invaded the Turkish Danubian principalities of Moldavia and Wallachia, modern-day Romania. Wary of Russian expansion into their trade routes, Britain and France allied with the ailing Ottoman Empire.

The war’s main theatre of battle became the Crimean Peninsula, as British and French forces targeted Russian positions in the Black Sea, which connects to the Mediterranean through the Bosphorus and Dardanelles straits – previously controlled by the Ottoman Empire.

After three years, Russia humiliatingly lost the war, forcing it to reassess its colonial priorities. According to calculations by Advocate for Peace, a journal published by the American Peace Society in the 19th and early 20th centuries, Russia spent the equivalent of 160 million pounds sterling on the war.

Meanwhile, due to overhunting, Alaska yielded little profit by the mid-1800s. Its proximity to British-controlled Canada also made it a liability in any future Anglo-Russian conflict.

By the early 1860s, Tsar Alexander II concluded that selling Alaska would both raise funds Russia desperately needed and prevent Britain from seizing it in a future war. The US, which had continued to expand across the continent, emerged as a willing buyer, leading to the 1867 Alaska Purchase.

How was the sale received in the US?

After the American Civil War ended in 1865, Secretary of State William Seward took up Russia’s longstanding offer to buy Alaska. On March 30, 1867, Washington agreed to buy Alaska from Russia for $7.2m.

For less than 2 cents an acre (4 metres), the US acquired nearly 1.5 million sq km (600,000 square miles) of land and ensured access to the Pacific northern rim. But opponents of the Alaska Purchase, who saw little value in the vast ice sheet, persisted in calling it “Seward’s Folly” or “Seward’s Icebox”.

“We simply obtain by the treaty the nominal possession of impassable deserts of snow, vast tracts of dwarf timbers… we get… Sitka and the Prince of Wales Islands. All the rest is waste territory,” wrote the New York Daily Tribune in April 1867.

But in 1896, the Klondike Gold Strike convinced even the harshest critics that Alaska was a valuable addition to US territory. Over time, the strategic importance of Alaska was gradually recognised, and in January 1959 Alaska finally became a US state.

What’s its economy like now?

By the early 20th century, Alaska’s economy began to diversify away from gold. Commercial fishing, especially for salmon and halibut, became a major industry, while copper mining boomed in places like Kennecott.

Then, during World War II, the construction of military bases brought infrastructure improvements and population growth. The most transformative moment, however, came in 1968 with the discovery of vast oil reserves at Prudhoe Bay on the Arctic coast.

Oil revenues became the cornerstone of Alaska’s economy, funding public services as well as the Alaska Permanent Fund, which pays annual dividends – via returns on stocks, bonds, real estate, and other assets – to residents.

These payments, known as the Permanent Fund Dividend, will ensure that Alaska’s oil wealth continues to benefit residents even after reserves run out. This system has allowed Alaska to have no state income tax or state sales tax, a rarity in the US.

More recently, tourism has surged in Alaska, drawing visitors to the state’s national parks and glaciers. Today, Alaska has transformed from a ridiculed purchase into a resource-rich state, built on a mix of natural resource extraction, fishing and tourism.

Meanwhile, despite Alaska’s history of trading land like currency, President Zelenskyy will hope that Friday’s meeting between Trump and Putin does not come at the expense of Ukrainian territory.

The organising committee for the Los Angeles Olympics says some deals are already in place for the 2028 Games.

Organisers of the Los Angeles Olympics will sell naming rights for a handful of its venues in deals expected to bring multiple millions of dollars to the 2028 Games while breaking down the International Olympic Committee’s long-sacrosanct policy of keeping brand names off its arenas and stadiums.

The organising committee announced the landmark deal Thursday, saying contracts were already in place with two of its founding partners – Honda, which already has naming rights for the arena in Anaheim that will host volleyball, and Comcast, which will have its name on the temporary venue hosting squash.

LA28 chairman and CEO Casey Wasserman said revenue from the deals goes above what’s in LA’s current $6.9bn budget.

He portrayed the deal as the sort of paradigm-shifting arrangement that Los Angeles needs more than other host cities because, as is typical for American-hosted Olympics, the core cost of these Games is not backed by government funding.

“We’re a private enterprise responsible for delivering these games,” Wasserman said in an interview with The Associated Press. “It’s my job to push. That doesn’t mean we’re going to win every time we push, but it’s our job to always push because our context is pretty unique.”

Wasserman said he also spent time explaining to IOC members how arena and stadium names are part of the lexicon in US sports.

“People know ‘Crypto’ as ‘Crypto,’ they don’t know it as ‘the gymnastics arena downtown,’” Wasserman said of the home of the Lakers, Crypto.com Arena, which will host gymnastics and boxing in 2028.

Rights for up to 19 temporary venues could be available. The IOC’s biggest sponsors – called TOP sponsors – will have the first chance to get in on the deals. Wasserman said no venues will be renamed – so, for instance, if organisers do not reach a deal with SoFi (opening and closing ceremonies, swimming) or Intuit (basketball), no other sponsor can put its name on the arena.

Not included in this new arrangement are the LA Coliseum, Rose Bowl and Dodger Stadium, some of the most iconic venues in a city that hosted the Games in 1932 and 1984. Organisers said IOC rules that forbid advertising on the field of play will still apply.

The deal adds to a growing list of accommodations pushed through for Los Angeles, which is once again poised to reshape the Olympic brand, much the way it did in 1984.

In 2017, the city was bidding for the 2024 Games against Paris, but agreed to instead host the 2028 Games. It was part of a then-unheard-of bid process that rescued the IOC from the reality that cities were becoming reluctant to absorb the cost and effort to bid for and host the Summer Games.

Olympic watchers viewed the return of softball and baseball for 2028, along with the introduction of flag football, with help from the NFL, as changes that maybe only Los Angeles could have pulled off.

LA will also make a major scheduling change for the Olympics Games, moving track and field to the opening week of the games and swimming to the end.

Wasserman said the organising committee’s position as a private entity plays a major role in its relationship with the IOC.

“We spend the time, we do the work, we make the argument, and we don’t settle for a ‘No,’ because we don’t have that luxury,” he said.