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A new “anti-woke” investment fund is eyeing an activist raid on Starbucks — with executives reportedly set to unveil their blueprint for taking on the java giant at Donald Trump’s Mar-a-Lago resort on Thursday.

The fledgling startup’s fund, named the Azoria Meritocracy ETF, will invest in companies in the S&P 500 with the exception of a few dozen that its managers conclude employ quantitative commitments to diversity when recruiting employees, its CEO James Fishback said in an interview.

Fishback and his Azoria Partners co-founder Asaf Abramovich have drummed up a list of some three dozen companies it will blacklist over their alleged “wokery.”

The Financial Times reported on Thursday that one of Azoria’s targets is Starbucks.

Starbucks has denied that it has “targets or quotas at any stage of the hiring process,” according to the FT.

The company told the FT that a supposed goal to reach racial and ethnic diversity of at least 30% among its staff was merely an aspiration.

Starbucks shares were down less than 1% Thursday, at just under $100.

Fishback, who previously worked for David Einhorn’s Greenlight Capital as a trader until an acrimonious split in the summer of 2023, aims to raise $1 billion by the end of 2025.

Americans, whether they voted for President Trump or not, do not want to invest in companies running woke science experiments, Fishback told the Financial Times.

“We are representing shareholders here, and human capital hiring quotas that hurts all shareholders,” he added. Cut that crap out. Hire the best and brightest. Dont apologize for it, make money, give it to shareholders, and do the right thing.

The incoming Trump administration has vowed to crack down on the controversial DEI initiatives across the entire federal government and some companies fear that they too could be targeted.

The event at the president-elect’s private members resort will feature speeches from Kevin Roberts, president of the Heritage Foundation, a prominent right-wing think tank, and Cathie Wood, founder of Ark Investment Management.

Starbucks stock has spiked roughly 20% since August after the company appointed ex-Chipotle boss Brian Nicol as its new CEO to turn around the floundering business.

Elliott Management, the activist fund owned by Wall Street titan Paul Singer, built a stake in the coffee giant that eventually led to the ouster of ex-chief executive Laxman Narasimhan.

Self-styled woke capitalists have irked Republicans and their allies on Wall Street in recent years, with former presidential candidates Ron DeSantis and Vivek Ramaswamy taking aim at so-called ESG policies.

Environmental, social and governance strategies focus on elements such as racial justice and climate change, but conservatives say they harm investments made by ordinary Americans.

Two industry analysts who declined to be named were skeptical of whether it is possible to demonstrate a correlation between any underperformance and a company’s recruiting policies.

Others questioned whether the ETF would gain traction and said ESG-focused funds may not be out of favor.

“Investors may turn further to ESG ETFs because they believe the government will not fully support their personal objectives,” said Todd Rosenbluth, head of ETF research at VettaFi.

He declined to comment on the Azoria ETF.

Bryan Armour, ETF analyst at Morningstar, said a small ETF may struggle to exert leverage on corporate America.

“It will be really hard to gain power and influence,” Armour said.

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Entertainment

Lawyer for Sean ‘Diddy’ Combs claims there was ‘mutual violence’ between him and ex-girlfriend

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Lawyer for Sean 'Diddy' Combs claims there was 'mutual violence' between him and ex-girlfriend

A lawyer representing Sean “Diddy” Combs has told a court there was “mutual” domestic violence between him and his ex-girlfriend Casandra ‘Cassie’ Ventura.

Marc Agnifilo made the claim as he outlined some of the music star’s defence case ahead of the full opening of his trial next week.

Combs has pleaded not guilty to one count of racketeering conspiracy, two counts of sex trafficking and two counts of
transportation for prostitution. If convicted, he faces up to life in prison.

Ms Ventura is expected to testify as a star witness for the prosecution during the trial in New York. The final stage of jury selection is due to be held on Monday morning.

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Why is Sean Combs on trial?

Mr Agnifilo told the court on Friday that the defence would “take the position that there was mutual violence” during the pair’s relationship and called on the judge to allow evidence related to this.

The lawyer said Combs‘s legal team intended to argue that “there was hitting on both sides, behaviour on both sides” that constituted violence.

He added: “It is relevant in terms of the coercive aspects, we are admitting domestic violence.”

U.S. Marshalls sit behind Sean "Diddy" Combs as he sits at the defense table alongside lawyer Marc Agnifilo in the courtroom during his sex trafficking trial in New York City, New York, U.S., May 9, 2025 in this courtroom sketch. REUTERS/Jane Rosenberg
Image:
A court sketch showing Sean ‘Diddy’ Combs (right) as he listens to his lawyer Marc Agnifilo addressing the court. Pic: Reuters

Ms Ventura’s lawyers declined to comment on the allegations.

US District Judge Arun Subramanian said he would rule on whether to allow the evidence on Monday.

Combs, 55, was present in the court on Friday.

He has been held in custody in Brooklyn since his arrest last September.

Prosecutors allege that Combs used his business empire for two decades to lure women with promises of romantic relationships or financial support, then violently coerced them to take part in days-long, drug-fuelled sexual performances known as “Freak Offs”.

Read more:
Diddy on trial: Everything you need to know
Sean Combs: A timeline of allegations

Combs’s lawyers say prosecutors are improperly seeking to criminalise his “swinger lifestyle”. They have suggested they will attack the credibility of alleged victims in the case by claiming their allegations are financially motivated.

The trial is expected to last around eight weeks.

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UK

Police investigating alleged attack on prison officer by Southport triple murderer Axel Rudakubana

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Police investigating alleged attack on prison officer by Southport triple murderer Axel Rudakubana

Police are investigating an alleged attack on a prison officer by Southport triple killer Axel Rudakubana on Thursday, Sky News understands.

A Prison Service spokesperson said: “Police are investigating an attack on a prison officer at HMP Belmarsh yesterday.

“Violence in prison will not be tolerated and we will always push for the strongest possible punishment for attacks on our hardworking staff.”

Rudakubana is serving life in jail for murdering Alice da Silva Aguiar, nine, Bebe King, six, and Elsie Dot Stancombe, seven, at a Taylor Swift-themed dance class last year.

According to The Sun, Rudakubana poured boiling water over the prison officer, who was taken to hospital as a precaution but only suffered minor injuries.

This breaking news story is being updated and more details will be published shortly.

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Environment

Kia EV4 test drive reveals the good, the bad, and the ugly

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Kia EV4 test drive reveals the good, the bad, and the ugly

Can Kia’s first electric sedan live up to the hype? After launching the EV4 in Korea, we are finally seeing it in action. A new test drive of the EV4 gives us a closer look at what to expect as Kia prepares to take it global. Here’s how it went down.

Kia EV4 test drive: The good, the bad, and the ugly

Kia claims the EV4 will “set a new standard in electric vehicles” with long-range capabilities, fast charging, and a sleek new design.

The electric sedan features a unique, almost sports-car-like profile with a long-tail silhouette and added roof spoiler.

Kia claims it is “the new look of a sedan fit for the era of electrification.” Despite its four-door design, the company is calling it a new type of sedan.

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The design is not only eye-catching, but it’s also super efficient. With a drag coefficient of just 0.23, the EV4 is Kia’s most aerodynamic vehicle so far, enabling maximum driving range and efficiency.

Kia opened EV4 orders in South Korea in March, starting at about $29,000 (41.92 million won). It’s available with two battery options: 58.2 kWh and 81.4 kWh. The entry-level “Standard Air” model, powered by the 58.2 kWh battery, is rated with up to 237 miles of driving range.

Kia-EV4-test-drive
Kia EV4 sedan Korea-spec (Source: Hyundai Motor)

The “Long-Range Air” variant starts at 46.29 million won ($31,800) and has a driving range of up to 331 miles (533 km) in Korea.

With charging speeds of up to 350 kW, the EV4 can charge from 10% to 80% in around 29 minutes. The long-range battery will take about 31 minutes.

Kia-EV4-test-drive
Kia EV4 sedan interior (Source: Hyundai Motor)

The interior boasts Kia’s latest ccNC infotainment system with a 30″ Ultra-wide Panoramic Display. The setup includes dual 12.3″ driver displays, navigation screens, and a 5″ air conditioning panel.

With deliveries kicking off, we are seeing some of the first test drives come out. A review from HealerTV gives us a better idea of what it’s like to drive the EV4 in person.

Kia EV4 test drive (Source: HealerTV)

Sitting next to Kia’s first pickup, the Tasman, the reviewer mentions the EV4 feels “particularly newer.” The test drive starts around the city with a ride quality similar to that of the K5, if not even better.

As you can see from the camera shaking, the ride feels “a bit uncomfortable” on rough roads. However, on normal surfaces and speed bumps, Kia’s electric sedan “feels neither too soft nor too hard,” just normal. The reviewer calls the EV4’s overall ride quality “quite ordinary” with “nothing particularly special about it.”

When accelerating, the electric car was smooth in the beginning but felt “a little lacking in later stages.” Overall, it should be enough for everyday use.

One of the biggest issues was that the rear window appeared too low. The rear brake lights also stick out, making it hard to see clearly through the rearview.

Keep in mind that the test drive was the Korean-spec EV4. Kia will launch the EV4 in Europe later this year and in the US in early 2026.

In the US, the EV4 will include a built-in NACS port for charging at Tesla Superchargers and a driving range of up to 330 (EPA-est) miles. Prices will be revealed closer to launch, but the EV4 is expected to start at around $35,000 to $40,000.

Would you buy Kia’s electric sedan for around $35,000? Or would you rather have the Tesla Model 3, which starts at $42,490 in the US and has up to 363 miles of range? Let us know in the comments.

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