Low-cost Unmanned Combat Attack System (LUCAS) drones are positioned on the tarmac at a base in the U.S. Central Command operating area. Source: U.S. CENTCOM The future of air power lies in autonomous platforms, and the United States, despite boasting the largest air force in the world, may not be in the lead. This is according to Matt George, CEO of autonomous aircraft developer Merlin Labs. Spea...
Low-cost Unmanned Combat Attack System (LUCAS) drones are positioned on the tarmac at a base in the U.S. Central Command operating area. Source: U.S. CENTCOM The future of air power lies in autonomous platforms, and the United States, despite boasting the largest air force in the world, may not be in the lead. This is according to Matt George, CEO of autonomous aircraft developer Merlin Labs. Speaking to CNBC's Morgan Brennan at CNBC's CONVERGE LIVE event, George said that small and medium-sized autonomous platforms have dominated the wars in Iran and Ukraine. Autonomous platforms include unmanned drones used for reconnaissance or to directly attack military targets with a carried payload. These drones are vastly cheaper and can be deployed faster than traditional weapons, prompting Western militaries to reconsider their spending priorities. "I think the U.S. has figured out that ... we are not necessarily behind, but we do not have the definitive lead, and we need to go invest behind those capabilities," George said. He added, "We know drones are being used right now in this conflict in Iran ... as well [as] Ukraine too, which is really, you know, the first conflict that became a drone-led war." Kyiv used the Turkish Bayraktar TB2 drone in the early stages of the Russia-Ukraine war, and Russia has also used Iranian-made Shahed-136 drones to attack Ukraine, as well as its own Lancet drones. In the Middle East, Iran also used Shahed drones as it retaliated against Gulf countries after the U.S. and Israel conducted airstrikes on the country in February. "We've ... talked about all the really high end stuff in the U.S., but ... we've also seen large manned platforms still be really vulnerable. We've seen large aircraft be put at risk by adversaries who are using much less expensive munitions and other forms of electronic warfare," George said. In June 2025, Ukraine's security services launched a massive drone attack against Russian air assets using drones concealed in ...
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. So far, so good. Government borrowing dropped to the lowest level in three years last month, with a budget deficit of £12.6 billion , according to the ONS . That was down to stronger revenues, after Rachel Reeves hiked taxes last April, and wage growth alongside frozen thresho...
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. So far, so good. Government borrowing dropped to the lowest level in three years last month, with a budget deficit of £12.6 billion , according to the ONS . That was down to stronger revenues, after Rachel Reeves hiked taxes last April, and wage growth alongside frozen thresholds generated billions more in income tax. Even if short-lived, it’s a boost for the chancellor. Pressures are building on public finances as the Iran war saps growth. Yesterday’s inflation reading gave an indication of how much it could hit spending, the primary driver of the economy. Bond yields are rising, there’s more demand for military spending and Reeves has announced support for energy bills, while hinting at aid for lower earners. The Resolution Foundation think tank has warned the conflict could wipe out most of the chancellor’s £23.6 billion fiscal buffer under a “severe but plausible” scenario. A worsening picture on the horizon, and one that threatens to spark speculation over more tax hikes and/or less spending. What’s your take? Ping me on X , LinkedIn or drop me an email at lmoon13@bloomberg.net. Oh, and do subscribe to Bloomberg.com for unlimited access to trusted business journalism on the UK, and beyond. What We’re Watching Grocer Sainsbury’s profits could slip this year as costs rise and a willingness to spend is dented by the war in the Middle East. It’s the latest retailer to warn of a possible fallout, yet the full impact remains unclear. Shares fell 7%. LSE Group , which faces pressure from activist investor Elliott, is now expecting strong 2026 revenue following a quarter of upbeat trading volumes and momentum in subscriptions businesses. It’s also “well on track” to complete its £3 billion share buyback by next February. Shares rose. WH Smith is suspending dividends to reduce debt, having already cut payouts in December, as it recovers from a regul...
Marvell Technology is emerging as a critical partner for hyperscalers, designing custom AI chips that are more efficient than traditional hardware solutions.
Marvell Technology is emerging as a critical partner for hyperscalers, designing custom AI chips that are more efficient than traditional hardware solutions.
bizoo_n Elon Musk’s Tesla ( TSLA ) reported no change in its bitcoin holdings during Q1 2026, maintaining a total of 11,509 BTC. The giant reported $786M in digital assets as of March 31 and marked an after-tax loss of $173M on its digital assets in Q1. The value of their holdings declined as bitcoin fell from around $90,000 at the start of the year to roughly $68,000 by the end of March. Despite ...
bizoo_n Elon Musk’s Tesla ( TSLA ) reported no change in its bitcoin holdings during Q1 2026, maintaining a total of 11,509 BTC. The giant reported $786M in digital assets as of March 31 and marked an after-tax loss of $173M on its digital assets in Q1. The value of their holdings declined as bitcoin fell from around $90,000 at the start of the year to roughly $68,000 by the end of March. Despite the hit from digital assets, Tesla ( TSLA ) reported better-than-expected earnings but missed on revenue, posting Q1 revenue of $22.39B versus estimates of $22.71B, while earnings per share came in at $0.41, above the $0.37 consensus. Following the results, its shares were up about 4% in after-hours trading. Bitcoin buying by Tesla ( TSLA ) began in January 2021, when it first acquired $1.5B worth of the leading cryptocurrency. The EV maker's holding in bitcoin has remained unchanged since early 2025, even as crypto price volatility impacts earnings, signaling a “hold” stance. More on Tesla Tesla, Inc. (TSLA) Q1 2026 Earnings Call Transcript Tesla, Inc. 2026 Q1 - Results - Earnings Call Presentation Tesla Q1: Why I'm Constructive On The Narrative, But The Stock Is Still A Sell Musk says Tesla, SpaceX to use Intel’s 14A tech in Terafab, lifting Intel shares Tesla signals over $25B 2025-2026 CapEx as it targets Optimus production by late July/August and Robotaxi in a dozen states by year-end
bizoo_n Elon Musk’s Tesla ( TSLA ) reported no change in its bitcoin holdings during Q1 2026, maintaining a total of 11,509 BTC. The giant reported $786M in digital assets as of March 31 and marked an after-tax loss of $173M on its digital assets in Q1. The value of their holdings declined as bitcoin fell from around $90,000 at the start of the year to roughly $68,000 by the end of March. Despite ...
bizoo_n Elon Musk’s Tesla ( TSLA ) reported no change in its bitcoin holdings during Q1 2026, maintaining a total of 11,509 BTC. The giant reported $786M in digital assets as of March 31 and marked an after-tax loss of $173M on its digital assets in Q1. The value of their holdings declined as bitcoin fell from around $90,000 at the start of the year to roughly $68,000 by the end of March. Despite the hit from digital assets, Tesla ( TSLA ) reported better-than-expected earnings but missed on revenue, posting Q1 revenue of $22.39B versus estimates of $22.71B, while earnings per share came in at $0.41, above the $0.37 consensus. Following the results, its shares were up about 4% in after-hours trading. Bitcoin buying by Tesla ( TSLA ) began in January 2021, when it first acquired $1.5B worth of the leading cryptocurrency. The EV maker's holding in bitcoin has remained unchanged since early 2025, even as crypto price volatility impacts earnings, signaling a “hold” stance. More on Tesla Tesla, Inc. (TSLA) Q1 2026 Earnings Call Transcript Tesla, Inc. 2026 Q1 - Results - Earnings Call Presentation Tesla Q1: Why I'm Constructive On The Narrative, But The Stock Is Still A Sell Musk says Tesla, SpaceX to use Intel’s 14A tech in Terafab, lifting Intel shares Tesla signals over $25B 2025-2026 CapEx as it targets Optimus production by late July/August and Robotaxi in a dozen states by year-end
Luis Alvarez/DigitalVision via Getty Images Shares of Packaging Corporation of America ( PKG ) have been a moderate performer over the past year, gaining about 10%. More recently, shares have pulled back from highs amid fears of input inflation and slower demand given the Iran War. That said, the company reported solid Q1 results, pointing to surprising strength in customer demand. I last covered ...
Luis Alvarez/DigitalVision via Getty Images Shares of Packaging Corporation of America ( PKG ) have been a moderate performer over the past year, gaining about 10%. More recently, shares have pulled back from highs amid fears of input inflation and slower demand given the Iran War. That said, the company reported solid Q1 results, pointing to surprising strength in customer demand. I last covered shares of Packaging in January when I downgraded them to “ S ell” primarily due to valuation. While shares rallied a bit further, they are now 6% lower, justifying my cautious stance, and the stock now sits in my $200-$210 price target range. With updated financials and this underperformance, now is a good time to revisit PKG. Seeking Alpha In the company’s first quarter , Packaging Corp. earned $2.40 per share, which beat estimates by $0.27 as revenue jumped 11% to $2.4 billion, thanks in part to M&A. Earnings were up about 4% from last year, given some margin pressure. As a reminder, last year, Packaging acquired Greif, which distorts year-over-year comparisons. As it spends to optimize Greif’s business, costs are temporarily elevated, and Greif reduced earnings by $0.06—severe winter weather also disrupted operations. Still, results were substantially above the $2.20 guidance, reflecting stronger volumes. In total, adjusted EBITDA jumped $64 million, or about 15%, to $486 million. Packaging Corp Daily shipments hit a record in Q1, even excluding the benefit from acquired Greif facilities. Ex-Greif, daily shipments were up a healthy 2.8%, and including the acquisition, shipments were up 22%. As a leading maker of corrugated boxes, PKG’s results are closely tied to economic activity, as box demand typically follows consumer spending patterns (with the shift to e-commerce a further long-term secular tailwind). Results point to the consumer spending environment holding in fairly well. Beyond this, PKG has been a steady market share winner over the past decade, reflecting its...