Emotional Daniel Radcliffe declared his love for partner Erin Darke and their son as he won his first ever Tony Award at Sunday’s ceremony.

The British actor, 34, picked up the trophy for Best Actor in a Featured Role in a Musical Tony for Merrily We Roll Along, a revival of the 1981 Stephen Sondheim musical.

In which he stars alongside Jonathan Groff and Lindsay Mendez.

The Harry Potter actor fought back tears as he took to the podium to accept the award.

After gracing the carpet earlier in the night with actress Darke, 39 and performing with his co-stars –  with the star making rare comments about his family life. 

He said: ‘My love, Erin. You and our son are the best thing that’s ever happened to me. I love you so much. Thank you so much’ – as a tearful Darke watched from the audience.’ 

The pair – who have been together since 2012 – welcomed their son in April 2023.

He added: ‘Thank you so much. Okay, I’m going to just talk fast and try not to cry. 

‘Thank you so much to the Broadway league and the American theatre wing for this unbelievable honor… 

‘This has been one of the best experiences of my life. 

‘Thank you for thinking of me for this. It’s been unbelievable. 

‘Thank you so much to our cast, everybody on that stage. 

‘It’s an honor to be on stage with you every single night, and I will miss it so much. 

‘Speaking of missing things, Jonathan, Lindsay, I will miss you so much. 

‘I don’t really have to act in this show, I just have to look at you and feel everything I want to feel. I will never have it this good again.’

Daniel and Erin first met on the set of 2013 American biographical drama film Kill Your Darlings.

They played a couple in the film, with Daniel later admitting that he was immediately attracted to Erin.

In his Tonys category he beat Roger Bart in Back To The Future: The Musical, Joshua Boone and Sky Lakota-Lynch in The Outsiders, Brandon Victor Dixon in Hell’s Kitchen and Steven Skybell in the new revival of Cabaret.

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Source: CNN

Capital Markets: An Overview

Capital markets are financial markets where long-term debt or equity-backed securities are bought and sold. They provide a platform for raising capital, facilitating investment, and enabling the transfer of funds between savers and borrowers. The efficiency and stability of capital markets are crucial for the overall health of an economy.

Components of Capital Markets

Primary Market:

In the primary market, new securities are issued and sold to investors directly by the issuer. This is where companies raise fresh capital by issuing stocks (equity) or bonds (debt).

Key activities include Initial Public Offerings (IPOs), where companies go public by offering shares for the first time, and debt issuances, such as corporate or government bonds.

Secondary Market:

The secondary market is where existing securities are traded among investors. This includes stock exchanges like the New York Stock Exchange (NYSE) and NASDAQ.

Provides liquidity, allowing investors to buy and sell securities easily.

Types of Securities in Capital Markets

Equities (Stocks):

Represent ownership in a company.

Common stocks offer voting rights and potential dividends, while preferred stocks offer fixed dividends and priority over common stocks in asset liquidation.

Debt Securities (Bonds):

Loans made by investors to issuers (corporations, municipalities, or governments).

Pay periodic interest and return the principal at maturity.

Types include corporate bonds, government bonds, and municipal bonds.

Hybrid Securities:

Combine elements of both debt and equity, such as convertible bonds (which can be converted into a specified number of shares).

Key Functions of Capital Markets

Capital Formation:

Enable businesses to raise funds for expansion, innovation, and operations.

Investors provide capital in exchange for potential returns through dividends or interest.

Liquidity Provision:

Secondary markets offer liquidity, allowing investors to easily buy and sell securities.

Facilitates the efficient allocation of resources.

Price Discovery:

Markets determine the fair value of securities based on supply and demand dynamics.

Prices reflect the collective assessment of a company’s future prospects and overall economic conditions.

Risk Management:

Investors can diversify their portfolios by investing in a variety of securities.

Derivative instruments (options, futures) are available for hedging against price fluctuations.

Participants in Capital Markets

Issuers:

Corporations, governments, and municipalities that raise capital by issuing securities.

Investors:

Individuals, institutional investors (pension funds, mutual funds, insurance companies), and foreign investors seeking returns on their investments.

Intermediaries:

Investment banks, brokerage firms, and financial advisors that facilitate the issuance and trading of securities.

Regulators:

Government agencies (e.g., Securities and Exchange Commission in the U.S.) that oversee market activities to ensure transparency, fairness, and investor protection.

Regulatory Framework

Regulation in capital markets aims to protect investors, ensure fair trading, and maintain market integrity. Key regulations and standards include:

Disclosure Requirements: Companies must provide accurate and timely information to investors.

Insider Trading Laws: Prohibit trading based on non-public, material information.

Market Surveillance: Monitor trading activities to prevent market manipulation and fraud.

Impact on the Economy

Capital markets play a vital role in economic growth by:

Facilitating Investment: Mobilizing savings into productive investments, driving business expansion and innovation.

Promoting Economic Stability: Providing mechanisms for risk management and capital allocation.

Enhancing Financial Inclusion: Allowing a broader range of participants to invest and raise capital.

Current Trends and Challenges

Technological Advancements:

The rise of fintech, algorithmic trading, and blockchain technology is transforming capital markets by enhancing efficiency and transparency.

Globalization:

Increased cross-border capital flows and integration of global markets present opportunities and risks.

Regulatory Changes:

Evolving regulatory landscapes in response to financial crises and market innovations impact market operations.

Sustainability:

Growing emphasis on Environmental, Social, and Governance (ESG) criteria in investment decisions reflects the shift towards sustainable and responsible investing.

Conclusion

Capital markets are the backbone of a functioning financial system, providing the necessary infrastructure for capital formation, investment, and economic growth. Understanding their mechanisms, participants, and regulatory frameworks is essential for navigating and leveraging these markets effectively. As markets evolve with technological advancements and global integration, staying informed about trends and challenges remains crucial for all stakeholders.