Category: 3. Business

  • Oyster reef balls at Sebastian’s Riverview Park show early success after one year

    Oyster reef balls at Sebastian’s Riverview Park show early success after one year

    One year after oyster reef balls were installed along the shoreline at Riverview Park in Sebastian, early monitoring indicates the restoration project is beginning to meet its goals, according to the Ocean Research and Conservation Association.

    The Indian River County park is the site of a multi-habitat restoration effort designed to address shoreline erosion while improving ecological function, said Natalie Stephens, a research assistant with ORCA.

    “Riverview Park is a multi-habitat restoration project located in Sebastian,” Stephens said.

    The project used two primary coastal restoration techniques, beginning with the installation of a living shoreline in November 2024. That phase incorporated modular oyster reef balls alongside native vegetation to reduce erosion and support habitat.

    “We used two targeted coastal restoration techniques. The first phase was our living shoreline, which was installed in November of 2024, where we wanted to help stabilize the shoreline using green infrastructure as well as native plantings,” Stephens said. “That’s where we used the module-type oyster reef balls.”

    Placed just offshore, the reef balls are designed to soften wave energy while also serving as habitat for marine life.

    “Those are placed in the water to help with wave energy, wave abatement, and also help stabilize the shoreline,” Stephens said. “In addition, as a secondary benefit, they can recruit oysters in the area of their presence and provide that substrate for them to live and grow on.”

    The reef installation was paired with changes along the upland edge of the shoreline, where turfgrass was replaced with native plants to better manage stormwater.

    “The buffered shoreline, which was the second phase of this Riverview Park multi-habitat restoration project, was where we replaced a turfgrass lawn with native vegetation,” Stephens said. “What that does is help slow the flow of stormwater runoff.”

    Stephens said the site was selected because of clear signs of long-term erosion caused by both routine wave action and storm impacts.

    “This area was carefully chosen because we really saw the need for shoreline restoration,” she said. “That was because of shared evidence of shoreline erosion that was occurring at this site from continual wave action as well as severe hurricane impact over the years.”

    She added that the project also supported broader local goals.

    “In addition to that, this project aligned with the City of Sebastian’s sustainability plan, so it really provided a wonderful opportunity to show the benefits of both of these restoration techniques,” Stephens said.

    Environmental pressures such as rising sea levels have made shoreline restoration increasingly urgent, she said.

    “Of course, we have added issues like sea level rise,” Stephens said. “Areas can’t withstand this accelerated erosion.”

    ORCA will continue to monitor the Riverview Park site quarterly for the next two to three years, tracking indicators such as water quality, shoreline slope and oyster recruitment. Early data suggests the project is already having an impact.

    “So far, the results have been promising,” Stephens said. “We have seen evidence of shoreline accretion in as little as six months. We’ve also seen a large amount of oyster recruitment and growth on the reef balls at the one-year mark.”

    Stephens said the reef balls were surveyed again last week, revealing continued growth compared with previous monitoring periods.

    Looking ahead, ORCA plans to apply similar techniques at other locations.

    “We have a living shoreline that we installed in April of 2024 at Riverside Park,” Stephens said. “We also have a few different projects on the horizon, including a proposed living shoreline behind a homeowners association in Martin County, as well as another living shoreline in the Sebastian Inlet District that we’re looking to be a part of.”

    Copyright 2025 WQCS


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  • Tetraplegia patient controls wheelchair,robotic dog using only thoughts in China trial

    Tetraplegia patient controls wheelchair,robotic dog using only thoughts in China trial

    Paralyzed in 2022, the patient received a CAS brain-computer implant in 2025 and soon controlled devices

    A patient involved in a BCI clinical trial plays a racing game at his home in Shanghai. PHOTO: CHINA DAILY

    A patient suffering from tetraplegia steered a smart wheelchair through the neighborhood with only his thoughts and directed a robotic dog to fetch a food delivery. These scenes were achieved during a recent clinical trial of a brain-computer interface conducted by a team from the Chinese Academy of Sciences (CAS).

    This shattered the conventional boundaries of rehabilitation, carrying the brain’s command from a two-dimensional cursor on a screen into full-bodied, three-dimensional interaction with the physical world.

    Brain-computer interfaces are designed to create a direct communication channel between the brain and external devices. Around the world, research groups have already demonstrated the laboratory feats, including “mind typing” and robotic-arm control. The enduring challenge is to make those systems reliable enough to vanish into a patient’s daily life.

    The patient became quadriplegic in 2022 due to a spinal-cord injury and received the brain-computer-interface system, developed by the Center for Excellence in Brain Science and Intelligence Technology under the CAS, in June 2025. Within weeks of training, he can reliably control a computer cursor and a tablet.

    The researchers employed a high-throughput wireless invasive brain-computer interface system to enable the patient to stably control a smart wheelchair and a robotic dog using neural signals, achieving autonomous mobility and object retrieval in real-world settings.

    Read More: China pioneers commercial use of supercritical CO2 power generation

    It signifies that China’s research in the field is shifting from merely restoring basic interaction to expanding the real-life horizons of paralyzed patients.

    The team also creatively fused two distinct decoding strategies to distill meaningful commands from noisy neural activities and boost the overall brain-control performance by more than 15 percent.

    Moreover, the researchers squeezed the system’s end-to-end latency, from neural pickup to command execution, under 100 milliseconds which is below the body’s own reaction time, giving the patient control that feels fluid and natural.

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  • PG&E customers in San Francisco start seeing power restored after massive outage impacted over 130,000

    PG&E customers in San Francisco start seeing power restored after massive outage impacted over 130,000

    SAN FRANCISCO (KGO) — Some power has been restored to San Francisco on Saturday night after about 130,000 customers — 30% of the city — were blacked out.

    PG&E’s online outage status reported the number of customers without power had fallen to 95,280, or 23% of San Francisco, at 8:50 p.m. As of 9:45 p.m., PG&E said 70% of its customers’ power had been restored.

    Mayor Daniel Lurie confirmed in a 10 p.m. Saturday update that customers were seeing their power restored.

    A PG&E spokesperson told ABC7’s Anser Hassan that more power would be restored around midnight.

    As of Sunday at 11:30 a.m., PG&E restored power to 110,000 customers. The utility company says it’s working to bring back power to 20,000 customers primarily in the Presidio, Richmond District, Golden Gate Park and small areas of downtown San Francisco.

    Outages were first reported Saturday in the Inner Sunset neighborhood at about 9:40 a.m., affecting about 14,700 customers. At 10:10 a.m., more outages were reported impacting about 25,000 customers in the Richmond District, the Presidio, Golden Gate Park, Inner Sunset District, and near the Civic Center.

    Scattered outages were later reported in parts of the Tenderloin and downtown before spreading to several areas around the city, including parts of the Mission District, the Chase Center, the Western Addition and other neighborhoods.

    San Francisco city officials asked the public to not call 911 to report power outages, “unless there is a life safety emergency. Keep 911 phone open for emergencies.”

    Lurie asked the public to stay off the streets because many traffic lights were out across the city.

    The problem was centered on a substation at 8th Street and Mission Streets in the South of Market neighborhood, Supervisor Matt Dorsey said on social media. The San Francisco Fire Department said they were on the scene of a fire at the substation, which was reported at 2:14 p.m.

    “We are still not clear when power will be restored to over 130,000 customers,” Lurie said on social media. “So what I am going to ask all of you to do is, if you do not need to go out tonight, stay home, be safe.”

    Around 8 p.m., much of upper Market Street was still blacked out — and on one of the biggest shopping days of the year, which was a big concern for Dorsey, who represents the South of Market district.

    “The Saturday before Christmas is historically one of the busiest shopping days of the year. We’ve got the Warriors game. We’ve got the ballet. We’ve got the symphony and everything going on. This is the worst time PG&E could have a problem,” Dorsey said.

    San Francisco District 5 Supervisor Bilal Mahmood said the city had been using all its resources to help PG&E restore power.

    “This is unacceptable. I have never seen anything like this over the decade I have been here in San Francisco. There will have to be further investigation and questions that have to be answered about what went wrong,” Mahmood said.

    PG&E is still investigating the cause of the fire. But PG&E Spokesperson Tamar Sarkissian said progress was being made, with thousands getting power back by just after 8:45 p.m.

    “We have restored about approximately 88,500 of our customers. So, there is about 42,000 that remain impacted. So, about that’s about 70% of customers who have been restored,” Sarkissian said.

    Dorsey said the same substation was responsible for a blackout on Dec. 21, 2003, affecting about 120,000 customers at the time.

    There was rain forecast Saturday, but there was no indication if the weather played any role in the outage. More rain was forecast for Saturday evening and for the next six days. Wind gusts could reach up to 25 mph Saturday, according to the National Weather Service.

    LIVE: Track rain in San Francisco Bay Area with Live Doppler 7

    Power outage affecting BART, Muni service

    BART closed Civic Center station due to the PG&E power outage. Powell Street had also been closed but reopened in the early evening. BART green lines were running with limited service between Berryessa and Daly City and red line trains were suspended between Richmond and Millbrae. All BART services were up and running by 11 p.m. Saturday.

    The SFMTA said Muni trains were not getting underground into Muni Metro or Central Subway. “Muni shuttle service is running between West Portal and Caltrain, and to consider the 8, 30, 45 for Central Subway. Avoid non-essential travel.” More Muni updates can be found here.

    Traffic, business impacts

    The outage caused gridlock in parts of downtown San Francisco with traffic lights out at major intersections. Traffic signals in the affected areas should be treated as four-way stop signs, the San Francisco Department of Emergency Management said.

    It also forced the closure of some businesses, including the Walgreens on Market and Ninth Street.

    Autonomous ridesharing service Waymo said on its app that service had been paused in the city.

    Waymo's app shows that services are currently paused during San Francisco's mass power outage.

    Waymo’s app shows that services are currently paused during San Francisco’s mass power outage.

    Waymo App

    The blackout also affected Internet service by some providers, including Monkey Brains.

    RELATED: Videos show Waymo cars stuck at San Francisco intersections during massive power outage

    Waymo, the operator of driverless ride-hailing vehicles, was also impacted by the massive power outage in San Francisco.

    Orpheum Theatre, Chase Center impacted

    The outage interrupted Saturday’s matinee performance of Moulin Rouge at the Orpheum Theatre. The show was cancelled.

    “And we saw about five minutes of it, and then the power went out. And we sat there for about half an hour, and it never came back on, and they said the show would be cancelled. So, we’re all sitting out here now, disappointed,” one attendee told ABC7.

    ABC7 also confirmed there was a brief power outage at San Francisco’s Chase Center that lasted from 1:30 p.m. to 2 p.m.

    Bay City News contributed to this report

    Copyright © 2025 KGO-TV. All Rights Reserved.

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  • 10 Simple Ways to Avoid the ER This Holiday Season | Hartford HealthCare

    10 Simple Ways to Avoid the ER This Holiday Season | Hartford HealthCare

    << Back

    December 19, 2025

    The holidays are supposed to be busy in a good way — full calendars, full plates and full houses.

    But every year, emergency rooms fill up too. Slips on icy steps. Kitchen cuts. Chest pain after one too many indulgent meals. But many of these visits are preventable with some caution and planning.

    “During the holidays, we see a predictable increase in ER visits related to accidents, overexertion and stress,” says Steven Valassis, MD, an emergency medicine physician at Hartford HealthCare St. Vincent Medical Center. “A little awareness goes a long way in keeping people safe and out of the hospital.”

    Here are 10 simple, realistic ways to protect your health and avoid the ER this holiday season.

    1. Watch the weather and your footing

    Snow, ice and wet leaves are a recipe for falls, especially on steps and driveways.

    When the weather gets wintry, make sure you

    • Wear shoes with good traction
    • Clear walkways as soon as possible
    • Take your time when walking outside
    • If it’s icy, hold onto railings
    • Avoid carrying heavy items that throw off your balance.

    > Related: Urgent or Emergent? Everything You Need to Know

    2. Slow down in the kitchen

    Holiday cooking is often rushed and crowded. And that’s when accidents happen.

    Keep knives sharp, use cutting boards and never leave cooking unattended. If you’re frying, baking or using open flames, stay nearby and alert.

    “We see an increased in cuts and burns this time of year,” says Dr. Valassis. “Most happen when people are multitasking or distracted.”

    3. Enjoy holiday food in moderation

    Rich meals, heavy desserts and extra salt can take a toll — especially if you have heart disease, diabetes or digestive issues.

    But you don’t have to skip your holiday favorites. Just pace yourself, eat smaller portions and listen to your body when it says it’s had enough.

    Eating past the point of comfort is a common trigger for chest pain and serious stomach issues around the holidays.

    > Related: The Holiday Food Advice You’ll Actually Want to Follow

    4. Stay hydrated, even if you’re celebrating

    Holiday schedules tend to throw routines out the window — including how much water you drink.

    And to make matters worse, holiday staples like alcohol, caffeine and salty foods can quietly dehydrate you.

    Make it a habit to drink water throughout the day, especially if you’re enjoying cocktails or traveling, to keep headaches, dizziness and kidney issues from hampering your fun.

    5. Lift smart while you prep for the holidays

    Between boxes of decorations and heavy gifts, the holiday season can take a toll on your back.

    Twisting or rushing through heavy lifting quickly leads to muscle strains that can sideline you for weeks.

    Bend at your knees, keep items close to your body and avoid twisting. If it feels too heavy, it is — don’t be afraid to ask for help.

    6. Travel safely, no matter the distance

    Whether it’s a long drive across the country or a quick trip across town, holiday roads come with extra risk.

    “Car accidents are a major cause of holiday ER visits,” Dr. Valassis says. “Simple precautions save lives.”

    Be sure to buckle up and avoid driving if you haven’t gotten enough sleep. Build extra time into travel plans so you don’t have to rush, and never drive after drinking. Taking these basic steps can significantly reduce your risk of injury — and help you avoid the ER while traveling this holiday season.

    7. Don’t let stress become a factor

    The holidays bring a lot of joy, but sometimes, they bring just as much stress.

    “Stress can raise blood pressure, amplify heart conditions and weaken your immune system,” says Dr. Valassis.

    Overcommitting to activities and falling behind on down time can quickly cause physical symptoms. Prioritize sleep, build in breaks and don’t be afraid to say no.

    > Related: 6 Healthy Ways to Reduce Stress Around the Holidays

    8. Look out for fire risks

    Candles, tree lights and fireplaces might be cozy, but they come with a risk.

    That’s why burns and smoke inhalation are so common this time of year. Luckily, they’re also preventable.

    Keep candles away from flammable items, and never leave them unattended. Check cords for fraying, and unplug lights and heaters before bed or when leaving the house.

    9. Be mindful of allergies

    Homemade baked goods don’t always come with a label – and they seem to show up at every holiday gathering.

    “Allergic reactions can escalate quickly,” says Dr. Valassis. “It’s important to catch them early.”

    If you have food allergies and sensitivities, don’t be afraid to ask questions before you dig in. And if you’re prone to seasonal allergies, keep medications on hand.

    > Related: Which Allergy Medicine Is Right for Me?

    10. Listen to your body

    It might sound simple, but trusting your instincts is key.

    If something feels off — chest pain, trouble breathing, severe pain or sudden weakness — don’t brush it off.

    “The goal isn’t to avoid care when you need it,” Dr. Valassis says. “It’s to avoid preventable emergencies so you can enjoy the holidays safely.”

    The holidays don’t have to come with an ER visit

    With a little planning and some extra awareness, you can protect your health, avoid the ER, and keep the focus where it belongs – spending time with the people you love.

    “A few thoughtful choices can make a big difference in helping you avoid the ER,” Dr. Valassis says.

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  • Power restored to most in San Francisco after massive outage

    Power restored to most in San Francisco after massive outage

    SAN FRANCISCO — Power was restored Sunday morning to the bulk of the 130,000 homes and businesses in San Francisco impacted by a massive outage on Saturday that caused major disruptions in the city.

    Pacific Gas and Electric Co.’s outage map showed more than 20,000 customers still remained without electricity as of 5 a.m. PST, while crews worked to fully restore service.

    The outage, which occurred shortly after 1 p.m. on Saturday, left a large swath of the northern part of the city without power that began to grow in size. At its peak, the outage represented roughly one-third of the utility company’s customers in the city.

    Social media posts and local media reported mass closures of restaurants and shops and darkened street lights and Christmas decorations on Saturday, one of the busiest shopping days of the year.

    The San Francisco Department of Emergency Management said on X there were “significant transit disruptions” happening citywide and urged residents to avoid nonessential travel and treat down traffic signals as four-way stops. Waymo, the operator of driverless ride-hailing vehicles, suspended its services. At least one video posted on social media appeared to show a Waymo vehicle stopped in the middle of an intersection.

    Some of the blackouts were caused by a fire that broke out inside a PG&E substation at 8th and Mission streets, fire officials posted on X at about 3:15 p.m. The full cause remained under investigation.

    At about 4 p.m.., PG&E posted on X that it had stabilized the grid and no further outages were expected.

    Copyright © 2025 by The Associated Press. All Rights Reserved.

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  • EA investigates after ‘foam’ reported on Birmingham river

    EA investigates after ‘foam’ reported on Birmingham river

    The Environment Agency has said it is investigating after concerns were raised about possible pollution in a river in Birmingham.

    Residents in the Selly Park and Stirchley areas shared concerns and photos on social media about “foam” seen travelling along the River Rea.

    Pictures were taken in various locations, including alongside Cannon Hill Park, near the Rea Valley Cycle Path and near the city’s Third Avenue.

    “We are aware of this incident and our officers are investigating,” said an agency spokesperson.

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  • Government warns WhatsApp users about ‘GhostPairing’ attack: What is it and how to stay safe

    Government warns WhatsApp users about ‘GhostPairing’ attack: What is it and how to stay safe

    The Indian computer emergency response team (CERT-In) has issued an advisory for WhatsApp users warning them of a ‘device-linking’ feature that can allow attackers to take ‘complete’ control of their account. The advisory, accessed by news agency PTI says that the vulnerability called ‘GhostPairing’ put users’ messages, photos, and videos on the web version at risk. “It has been reported that malicious actors are exploiting WhatsApp’s device-linking feature to hijack accounts using pairing codes without authentication requirement,” the cyber agency said in the advisory.“This newly identified cyber campaign called GhostPairing enable cyber criminals to take complete control of WhatsApp accounts without needing password or SIM swaps,” the advisory said.For those unaware, CERT-In is the national technology arm under the Ministry of Electronics and Information Technology (Meity) to combat cyber attacks and guarding of the Indian Internet space.

    The WhatsApp Scam That Gives Hackers Your Phone!

    What is GhostPairing

    GhostPairing is a type of WhatsApp attack where hackers secretly link their own device to a victim’s WhatsApp account, giving them almost full access without the victim noticing. The attack works by tricking users into entering their phone number on a fake website that looks like Facebook or WhatsApp.According to the advisory, the scam usually starts with a message such as “Hi, check this photo” that appears to come from a trusted contact. The message includes a link with a Facebook-style preview. When users click it, they are taken to a fake Facebook viewer page that asks them to “verify” to see the content. At this stage, attackers exploit WhatsApp’s “link device via phone number” feature by convincing users to enter their number. Once they do, the attacker’s browser becomes a hidden, trusted device — allowing them to take over the WhatsApp account.Once linked, attackers can read synced messages, receive new chats in real time, view photos, videos, and voice notes, and even send messages to the victim’s contacts and group chats.

    How to stay safe

    The advisory warns users not to click on suspicious links, even if they appear to come from known contacts, and to never enter their phone number on external websites claiming to be WhatsApp or Facebook.

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  • Foreign buyers snap up cheap UK companies as dealmaking hits new high

    Foreign buyers snap up cheap UK companies as dealmaking hits new high

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    UK companies attracted a surge of interest from foreign buyers eager to capitalise on cheap valuations, driving British dealmaking in 2025 to a post-pandemic high, new data shows.

    Overseas bidders agreed $142bn in takeovers of British companies over the past year, according to data from the London Stock Exchange Group. That marks a 74 per cent uptick from 2024.

    The sharp rise in foreign takeovers outpaced a broader 20 per cent rise in UK mergers and acquisitions — which reached a total value of $367bn this year — to reach the highest levels since the pandemic-era boom.

    “The UK stock market remains materially undervalued,” said Philip Noblet, head of UK & Ireland investment banking at Jefferies.

    “The ratings are still poor to rival companies in the US, but also in Europe, so people keep coming . . . We’re going to see more strategic interest from overseas in 2026 and for bigger companies,” he added.

    While the overall value of UK M&A rose 20 per cent, it was mainly driven by a rise in larger deals. The overall number of deals announced in the last year fell 16 per cent. One such headline deal was Anglo American’s $50bn merger with Canadian rival Teck Resources, having rebuffed repeated takeover attempts by Australia’s BHP.

    The UK’s bumper year is in the context of a wider dealmaking frenzy, particularly in the US, where President Donald Trump’s deregulatory push has prompted a spate of megadeals topping $10bn.

    Just over half of foreign acquisitions for UK companies involved an American buyer, far ahead of any other country, such as DoorDash’s £2.9bn acquisition of Deliveroo.

    Private capital investors have been particularly eager bidders for UK assets, with top transactions for the year including the £5.7bn acquisition of Pension Insurance Corporation by the Apollo-backed European insurer Athora, and Advent’s $4.8bn deal to acquire a majority stake in a portfolio of Reckitt cleaning products.

    One particularly popular strategy has been private equity takeovers of publicly listed companies; one reason why London has lost core constituents of its public markets.

    Some London-listed groups such as the £4.8bn industrial group Spectris and the £2.7bn fund administrator JTC were acquired by private equity firms KKR and Permira respectively after competitive bidding processes.

    The deals also highlighted how UK boards are pushing suitors for higher bids to compensate for their relatively lower valuations. KKR’s final offer for Spectris represented a close to 100 per cent premium compared to the company’s share before a bidding war broke out.

    “UK boards have got more self-confidence [ . . . ] boards are likely to hold out on premia for takeover bids that are on average higher than has historically been the case,” said Murray Cox, a partner at the law firm Weil, Gotshal & Manges.

    Other significant transactions in the past year include Santander’s £2.65bn acquisition of high street lender TSB.

    “Where is M&A happening in the UK? It is in the products we have to sell, which is services; professional services, financial services,” said James Howe, co-head of European M&A at the law firm Simpson Thacher.

    The surge of foreign takeovers for UK companies contrasts with domestic dealmaking, which plunged 54 per cent to about $44bn, the lowest level since 2016.

    Domestic dealmakers have had to contend with economic uncertainty both overseas — driven by Trump’s widespread tariff plan — and the wait for the UK’s new budget in late November.

    Chancellor Rachel Reeves’ budget drove taxes to an all-time high, but it was preceded by weeks of uncertainty that broadly forced dealmakers to sit on the sidelines.

    There remains a large number of transactions still in the works: BP is in talks to sell its lubricants business to the infrastructure investor Stonepeak, and Comcast’s Sky is in talks to buy ITV’s television business.

    Meanwhile, the private capital owners of UK wealth manager Evelyn Partners, and the UK’s two roadside recovery businesses AA and RAC are all exploring exits.

    “You continue to have an economy whose performance is relatively muted and where GDP forecasts have been downgraded, so that creates a necessity for companies to find growth,” said Anthony Parsons, executive chair of investment banking and capital markets at Deutsche Bank. “Private equity continues to see the UK as a very fertile ground for investment.”

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  • Market upheavals drive biggest gains since 2008 for macro hedge funds

    Market upheavals drive biggest gains since 2008 for macro hedge funds

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    Macro hedge funds are enjoying their best year since at least 2008, as huge swings in the price of currencies, commodities and bonds have provided fertile conditions for traders.

    An index from data provider HFR tracking the returns of such funds — which aim to profit from economic trends by trading equities, bonds and commodities — was up 16 per cent at the end of November, putting the sector on course for its most profitable year in data stretching back to 2008.

    Hedge funds such as Andrew Law’s Caxton and Chris Rokos’s RCM have enjoyed returns which were well into the double digits this year, according to figures seen by the FT.

    Macro managers say sharp market moves, such as the drop in the dollar triggered by Donald Trump’s trade war, a sell-off in long-term bonds, and a relentless gold rally, have offered the most favourable backdrop for the sector in many years.

    “There’s plenty to work with, which doesn’t make it easy to get right,” said Ken Tropin, the founder and chair of macro fund Graham Capital, who said the firm’s discretionary portfolio managers had made most of their returns trading the dollar, gold and the US government bond market. “But at least there’s opportunity.”

    Tropin said these portfolio managers relied on so-called “tactical”, or short-term, trading strategies this year, so that they could move quickly in asset classes such as currencies which were volatile in 2025.

    While that approach started before the Trump administration unveiled broad tariffs in April, Tropin added, “that was really the wake-up call for everybody”.

    Macro funds made money both by shorting the dollar, but also by piling into emerging market currencies and bonds, which rallied as a weaker dollar allowed countries to lower interest rates and refinance their debt more cheaply.

    “Every underlying asset class like commodities, FX and bonds had great opportunities this past year,” said an executive at a large European family office that invests in hedge funds. “There was the exuberance in gold and precious metals, the bear market in US dollar, and the divergence between the actions of central banks including the Bank of England and Federal Reserve.”

    The strong returns extend a renaissance for the sector which struggled during the decade of very low interest rates and muted volatility that followed the global financial crisis of 2008-9.

    “If you didn’t make money this year as a macro fund it will be difficult to explain,” said one hedge fund executive in the sector.

    Some funds also profited from a sell-off in long-term bonds driven by worries over excessive government borrowing in big economies, by betting on a growing gap between short-term and long-term borrowing costs.

    Caxton and Graham both made money from such “steepener” trades, while Caxton also profited from rallies in gold and copper, according to people familiar with the funds’ performances. Caxton’s Global, the firm’s main fund which manages $10bn, was up 14 per cent to December 5, according to an investor, while Caxton Macro, the $9bn fund run personally by Law, was up 18 per cent.

    The Absolute Return and Multi-Alpha Opportunity funds at Graham were up 8 and 13 per cent respectively at the end of November, according to people familiar with the figures. Rokos made 17.5 per cent up to the end of November, according to another person who had seen the numbers.

    Greg Coffey, the Australian hedge fund star once nicknamed the “Wizard of Oz”, has emerged as one of the biggest winners this year. The flagship fund at his firm Kirkoswald Capital has made 21 per cent by mid-December, according to people familiar with the figures.

    Both Graham and Rokos snapped up UK government debt when long-term borrowing costs soared to their highest levels this century, profiting as gilts rallied and yields fell back, according to people familiar with the trades.

    Brevan Howard had a more mixed performance. Its Master Fund was up just 0.4 per cent as of the end of November, while its multi-manager fund Alpha Strategies, which uses a variety of investment approaches, was up 7.2 per cent over the same period, according to people familiar with the returns.

    Brevan, Rokos, Caxton and Kirkoswald all declined to comment.

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  • Lightopia glistens in Hillsboro one last time before reimagining next year

    Lightopia glistens in Hillsboro one last time before reimagining next year

    Undated photo of some of the displays at the Lightopia event in Hillsboro, Ore.

    Courtesy of the city of Hillsboro

    Thousands of glittering holiday lights illuminate Gordon Faber Recreation Complex at Hillsboro’s Lightopia for the last time this year. The drive-thru holiday light display, one of the largest free displays in the Portland metro region, will be reimagined next year.

    But until Dec. 28, residents can still enjoy the holiday magic in its current format.

    Lightopia — located at the complex home to Hillsboro Stadium, Ron Tonkin Field and the under-construction future Hillsboro Hops stadium — is open to cars 5:30-8 p.m. Monday through Thursday and 5:30-9 p.m. Friday through Sunday. The display will be closed Christmas Eve and Christmas Day.

    With no tickets or reservations required this year, visitors can simply show up and motor through the dazzling display of holiday lights.

    To enter Lightopia, the city recommends traveling north onto Century Boulevard from Cornell Road. While the display layout has changed from previous years due to the stadium construction, the city emphasized it contains the same number of lights.

    The display got its start in 2020 during the COVID-19 pandemic when the city of Hillsboro was looking for ways to spread holiday cheer without spreading the virus.

    According Hillsboro public information officer Cindy Dauer, an average of 20,000 people have gone through Lightopia each of the past five years.

    While no plans have been announced for what the display will look like in coming years, the city says it will focus on “spreading the light across the City of Hillsboro, making it more accessible and enjoyable by all.”

    “We believe the future remains bright for Lightopia,” Dauer said, “While we are working behind the scenes to determine what the next iteration will be, we can assure the community the lights are not going out.”

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