Speaker of the House of Commons (United Kingdom)

King's speech: what is it and why does it matter?

Retrieved on: 
Tuesday, November 7, 2023

Today, King Charles will give his first speech from the throne as monarch. He delivered the queen’s speech once as Prince of Wales, deputising in May 2022 for his mother, who could not attend. This is the first speech by a king since 1951, though on that occasion King George VI was too ill to attend and the speech was read out by the Lord Chancellor.Who writes the king’s speech and why does it matter?There, he reads out a speech outlining the government’s plans and priorities for the year ahead.

Key Points: 


Today, King Charles will give his first speech from the throne as monarch. He delivered the queen’s speech once as Prince of Wales, deputising in May 2022 for his mother, who could not attend. This is the first speech by a king since 1951, though on that occasion King George VI was too ill to attend and the speech was read out by the Lord Chancellor.

Who writes the king’s speech and why does it matter?

  • There, he reads out a speech outlining the government’s plans and priorities for the year ahead.
  • Although it is known as the king’s speech, it is actually written by the government, for the monarch.

What happens at the speech?

  • The monarch sits on the royal throne in the House of Lords – the upper house.
  • No seats are provided for MPs, so they have to crowd into an inadequate space at the back.
  • Meanwhile, the door of the Commons is slammed in black rod’s face as a reminder of the independence of the Commons.

What if the monarch disagrees with the speech?

  • The monarch has the right to advise, warn and encourage the prime minister on policy.
  • In return he must always follow the prime minister’s advice and he must read the prime minister’s speech.

What can we expect from this year’s king’s speech?

  • This is something the king himself has to gauge, with advice from the government.
  • The speech is the first indication of the government’s legislative priorities for the year ahead.
  • We can certainly expect reference to housing and the cost of living crisis, and possibly to the ongoing crises in Gaza and Ukraine.


Sean Lang does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Navios Maritime Partners L.P. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2023

Retrieved on: 
Thursday, November 2, 2023

On September 22, 2023, Navios Partners agreed to sell a 2004-built Capesize vessel of 180,310 dwt, to an unrelated third party, for gross sale proceeds of $13.0 million.

Key Points: 
  • On September 22, 2023, Navios Partners agreed to sell a 2004-built Capesize vessel of 180,310 dwt, to an unrelated third party, for gross sale proceeds of $13.0 million.
  • During the first nine months of 2023, Navios Partners agreed to acquire four newbuilding Japanese MR2 product tankers from unrelated third parties, under bareboat contracts.
  • The Board of Directors of Navios Partners declared a cash distribution for the third quarter of 2023 of $0.05 per unit.
  • For the following results and the selected financial data presented herein, Navios Partners has compiled condensed consolidated statements of operations for the three and nine month periods ended September 30, 2023 and 2022.

Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions

Retrieved on: 
Thursday, October 5, 2023

HOUSTON, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA ) and Plains GP Holdings (Nasdaq: PAGP ) today announced their quarterly distributions with respect to the third quarter of 2023.

Key Points: 
  • HOUSTON, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA ) and Plains GP Holdings (Nasdaq: PAGP ) today announced their quarterly distributions with respect to the third quarter of 2023.
  • PAGP Class A Shares – $0.2675 per Class A Share ($1.07 per Class A Share on an annualized basis), which is unchanged from the distribution paid in August 2023.
  • In addition, to the extent any cash distribution exceeds a Class A Shareholder’s tax basis, it should be taxable as a capital gain.
  • On average, PAA handles approximately 8 million barrels per day of crude oil and NGL.

Navios Maritime Partners L.P. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2023

Retrieved on: 
Wednesday, August 23, 2023

During the second quarter of 2023, Navios Partners sold the Aurora N, the Navios Anthos, the Navios Libertas and the Serenitas N, to various unrelated third parties, for an aggregate sales price of $59.6 million.

Key Points: 
  • During the second quarter of 2023, Navios Partners sold the Aurora N, the Navios Anthos, the Navios Libertas and the Serenitas N, to various unrelated third parties, for an aggregate sales price of $59.6 million.
  • During the second quarter of 2023, Navios Partners agreed to acquire two newbuilding Japanese MR2 Product Tanker vessels from an unrelated third party, under bareboat contracts.
  • As discussed above, during the second quarter of 2023, Navios Partners agreed to enter into a bareboat-in agreement for two Japanese newbuilding tanker vessels.
  • The Board of Directors of Navios Partners declared a cash distribution for the second quarter of 2023 of $0.05 per unit.

HF Sinclair Corporation and Holly Energy Partners, L.P. Announce Definitive Merger Agreement

Retrieved on: 
Wednesday, August 16, 2023

HF Sinclair Corporation (NYSE: DINO) (“HF Sinclair”) and Holly Energy Partners, L.P. (“HEP” or the “Partnership”) (NYSE: HEP) announced today that they have entered into a definitive merger agreement for HF Sinclair to acquire all of the outstanding common units (“Common Units”) of HEP not owned by HF Sinclair or its affiliates in exchange for a combination of common stock, par value $0.01 per share, of HF Sinclair (“Common Stock”) and cash.

Key Points: 
  • HF Sinclair Corporation (NYSE: DINO) (“HF Sinclair”) and Holly Energy Partners, L.P. (“HEP” or the “Partnership”) (NYSE: HEP) announced today that they have entered into a definitive merger agreement for HF Sinclair to acquire all of the outstanding common units (“Common Units”) of HEP not owned by HF Sinclair or its affiliates in exchange for a combination of common stock, par value $0.01 per share, of HF Sinclair (“Common Stock”) and cash.
  • The Proposed Transaction consideration represents an approximate 2% premium to the closing price of HEP’s Common Units as of August 15, 2023.
  • The Proposed Transaction is expected to close in the fourth quarter of 2023, subject to the approval of HF Sinclair stockholders and HEP unitholders and the satisfaction of certain customary closing conditions.
  • Barclays is acting as financial advisor to HF Sinclair, and Vinson & Elkins L.L.P.

ECA Marcellus Trust I Announces There Will Be No Quarterly Distribution

Retrieved on: 
Monday, August 14, 2023

Cash held in reserve will be invested as required by the trust agreement.

Key Points: 
  • Cash held in reserve will be invested as required by the trust agreement.
  • The Trust is entitled to receive certain amounts of the proceeds attributable to Greylock’s interest in the sale of production from the properties.
  • The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Greylock with respect to the relevant quarterly period.
  • The Trust's annual, quarterly and other filed reports are or will be available over the Internet at the SEC's web site at http://www.sec.gov .

USD Partners LP Receives Continued Listing Standard Notice from the NYSE

Retrieved on: 
Wednesday, July 26, 2023

The Partnership’s Common Units will continue to be listed and traded on the NYSE, subject to its compliance with other NYSE continued listing requirements.

Key Points: 
  • The Partnership’s Common Units will continue to be listed and traded on the NYSE, subject to its compliance with other NYSE continued listing requirements.
  • The NYSE notification does not affect the Partnership’s business operations or its Securities and Exchange Commission reporting requirements, nor does it conflict with or cause an event of default under the Partnership’s Credit Agreement or other agreements.
  • In accordance with NYSE rules, the Partnership will respond to the NYSE within 10 business days of receipt of the non-compliance notification to notify the NYSE of the Partnership’s intention to cure the deficiency.
  • The Partnership will have a period of six months from receipt of the notification to regain compliance with the NYSE’s minimum closing price requirement, also referred to as the cure period.

Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions

Retrieved on: 
Thursday, July 6, 2023

HOUSTON, July 06, 2023 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA ) and Plains GP Holdings (Nasdaq: PAGP ) today announced their quarterly distributions with respect to the second quarter of 2023.

Key Points: 
  • HOUSTON, July 06, 2023 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (Nasdaq: PAA ) and Plains GP Holdings (Nasdaq: PAGP ) today announced their quarterly distributions with respect to the second quarter of 2023.
  • PAGP Class A Shares – $0.2675 per Class A Share ($1.07 per Class A Share on an annualized basis), which is unchanged from the distribution paid in May 2023.
  • In addition, to the extent any cash distribution exceeds a Class A Shareholder’s tax basis, it should be taxable as a capital gain.
  • On average, PAA handles approximately 8 million barrels per day of crude oil and NGL.

Despite indictment, Trump retains huge lead in Republican primary polls and narrowly leads Biden

Retrieved on: 
Wednesday, June 21, 2023

Despite the indictment, he retains a huge lead in national polling to determine the 2024 Republican presidential candidate.

Key Points: 
  • Despite the indictment, he retains a huge lead in national polling to determine the 2024 Republican presidential candidate.
  • Polls of early states will become more important as we approach these contests, but for now national polls are the best guide we have.
  • In the FiveThirtyEight aggregate of national Republican primary polls, Trump currently leads with 53.1%, with Florida Governor Ron DeSantis far behind on 21.2% and nobody else over 6%.
  • Trump’s lead has only marginally declined from 53.5-20.8 over DeSantis in my last US politics article in late May.

Biden’s ratings have not improved since debt limit deal

    • In late May, President Joe Biden agreed to a debt limit deal with Republican House of Representatives Speaker Kevin McCarthy, and the deal was passed by both chambers of Congress by June 1.
    • Biden’s ratings in the FiveThirtyEight aggregate are currently 54.2% disapprove, 41.2% disapprove (net -12.9).
    • In my May US politics article before the debt limit deal was struck, his net approval was -10.4.
    • The failure of Biden’s ratings to improve after the debt limit deal suggests Republican rhetoric on the need for spending cuts in the lead-up to the debt crisis was effective, and that McCarthy could have pushed for deeper cuts than what occurred.
    • Bad news for Trump regarding the indictment (his national favourability ratings have fallen) may be compensated by Biden’s drop in approval ratings.

Boris Johnson resigns from UK parliament

    • Johnson knew he would be forced to a byelection, so he resigned preemptively.
    • As Sunak and Johnson are rivals, it’s very unlikely that Sunak will allow Johnson to return as a Conservative candidate.

Right and far-right are doing well in Europe

    • If this occurs, Spain will follow Italy last year as the second major European country to fall to the right.
    • In Germany, the centre-left Social Democrats formed a governing coalition with the Greens and pro-business Free Democrats after the September 2021 election.

Evolve Transition Infrastructure Announces Delay in Effectiveness of Reverse Split

Retrieved on: 
Tuesday, June 13, 2023

HOUSTON, June 13, 2023 (GLOBE NEWSWIRE) -- Evolve Transition Infrastructure LP (OTC: SNMP) (“Evolve”) today announced that it is amending the date for its previously announced reverse split of its common units representing limited partner interests in Evolve (“Common Units”), which was to be effective as of the opening of trading on June 14, 2023.

Key Points: 
  • HOUSTON, June 13, 2023 (GLOBE NEWSWIRE) -- Evolve Transition Infrastructure LP (OTC: SNMP) (“Evolve”) today announced that it is amending the date for its previously announced reverse split of its common units representing limited partner interests in Evolve (“Common Units”), which was to be effective as of the opening of trading on June 14, 2023.
  • The delay in effecting the reverse split is due to the fact that this corporate action is now subject to review by the Financial Industry Regulatory Authority (“FINRA”) as a result of the Common Units initiating trading on the over-the-counter market on June 7, 2023.
  • Evolve will set and announce a new effective date for the reverse split following the successful completion of FINRA’s review.