The musician, producer and label head, who has died aged 81, turned his boyhood passion for blues into a hugely impactful career Mike Vernon, who has died aged 81, was the ultimate schoolboy blues nut. First he published a blues fanzine, next he persuaded Decca Records to hire him to produce British blues bands, then he started his own indie label issuing 45s of African American blues artists, bef...
The musician, producer and label head, who has died aged 81, turned his boyhood passion for blues into a hugely impactful career Mike Vernon, who has died aged 81, was the ultimate schoolboy blues nut. First he published a blues fanzine, next he persuaded Decca Records to hire him to produce British blues bands, then he started his own indie label issuing 45s of African American blues artists, before CBS agreed to finance his Blue Horizon label. From the 1970s on, he would record and perform as a solo artist and band member; he was a producer for David Bowie, Fleetwood Mac, Eric Clapton and more. His was a life determined by his love for music, and he served his muse generously for more than 60 years. Vernon’s upbringing in Surrey was typical of many children born in the mid-1940s: he sang in his church choir, listened to the jazz and show tune LPs his parents owned and was bowled over by the arrival of rock’n’roll, responding most strongly to the likes of Little Richard, Fats Domino and Larry Williams. Inquisitive and determined, he sought out records by older African American blues and R&B artists then, while studying at Croydon Art College, started following the fledgling British blues bands led by Cyril Davies and Alexis Korner. Continue reading...
US Homeland Security Secretary Kristi Noem looks on before the start of a Senate Judiciary Committee hearing on oversight of the Department of Homeland Security, on Capitol Hill in Washington, DC on March 3, 2026. Jim Watson | Afp | Getty Images Senate Judiciary Chair Chuck Grassley , R-Iowa., lashed into Homeland Security Secretary Kristi Noem on Tuesday about DHS law enforcement officials shooti...
US Homeland Security Secretary Kristi Noem looks on before the start of a Senate Judiciary Committee hearing on oversight of the Department of Homeland Security, on Capitol Hill in Washington, DC on March 3, 2026. Jim Watson | Afp | Getty Images Senate Judiciary Chair Chuck Grassley , R-Iowa., lashed into Homeland Security Secretary Kristi Noem on Tuesday about DHS law enforcement officials shooting and killing two people during the immigration crackdown in Minneapolis. "Mistakes have been made," Grassley said in his opening remarks. "Let's make it clear. One death is too many. But officers should never be threatened or harmed while enforcing our laws," Noem is making her first appearance before a congressional panel since the deaths of Renee Good and Alex Pretti at the hands of federal agents. Noem's appearance Tuesday is the first of two this week. She is due to testify before the House Judiciary Committee on Wednesday. Read more CNBC politics coverage U.S.-Iran strikes live updates: Explosions heard as retaliation targets U.S. military bases Congress takes on Nvidia, White House as it pushes for chip export limits Warren calls Trump’s bluff on affordability after State of the Union House Dems project midterm optimism at annual policy retreat following State of the Union Funding for DHS lapsed last month , and Democrats have so far refused to back an appropriations bill over frustrations with the Trump administration's immigration enforcement tactics. DHS still has billions of dollars at its disposal to keep some programs running thanks to last year's massive tax-and-spending bill. Democrats in Congress have been sharply critical of Noem's leadership of DHS. Rep. Robin Kelly, D-Ill., introduced articles of impeachment for Noem in January after federal officers killed Good and Pretti. Friends and family members of individuals in Immigration and Customs Enforcement detention were present at the hearing. They held signs and shouted in Noem's direction as she took her...
In the rapidly evolving landscape of enterprise technology, few companies have commanded as much intrigue, controversy, and market enthusiasm as Palantir Technologies Inc. (NYSE: PLTR). Once dismissed as a "black box" government contractor shrouded in secrecy, Palantir has reinvented itself as the foundational operating system for the modern AI-driven enterprise. As of today, March 3, 2026, the co...
In the rapidly evolving landscape of enterprise technology, few companies have commanded as much intrigue, controversy, and market enthusiasm as Palantir Technologies Inc. (NYSE: PLTR). Once dismissed as a "black box" government contractor shrouded in secrecy, Palantir has reinvented itself as the foundational operating system for the modern AI-driven enterprise. As of today, March 3, 2026, the company stands at a pivotal valuation inflection point, having successfully bridged the gap between national security and global commerce. Introduction Palantir Technologies is currently one of the most scrutinized and celebrated companies in the technology sector. Following its inclusion in the S&P 500 in late 2024 and a subsequent multi-year rally driven by the explosive adoption of its Artificial Intelligence Platform (AIP), Palantir has transitioned from a niche data tool for intelligence agencies into a ubiquitous enterprise powerhouse. The company’s relevance has never been higher, as geopolitical tensions and the corporate race for generative AI dominance have made Palantir’s "Ontology"-based software a critical infrastructure component for both governments and Fortune 500 companies alike. Historical Background Founded in May 2003 and operational by 2004, Palantir was born from a specific vision held by Peter Thiel and a core group of "PayPal Mafia" alumni, including Alex Karp, Stephen Cohen, Joe Lonsdale, and Nathan Gettings. The core thesis was that the fraud-detection algorithms developed at PayPal could be repurposed to identify terrorist networks and financial crimes in a post-9/11 world. For much of its first decade, Palantir operated in the shadows, fueled by early funding from the CIA’s venture arm, In-Q-Tel. Its early milestones included the development of Palantir Gotham, which became the gold standard for counter-terrorism and investigative analysis. The company famously went public via a Direct Public Offering (DPO) in September 2020. Since then, it has nav...
Ford Motor Company F is restructuring its electric-vehicle strategy to make EVs far more affordable, aiming to introduce a next-generation EV priced around $30,000. The plan involves shrinking battery size, cutting parts and reengineering how vehicles are built as part of a $5 billion investment designed to lower costs, improve efficiency and better compete with Chinese automakers and Tesla. The n...
Ford Motor Company F is restructuring its electric-vehicle strategy to make EVs far more affordable, aiming to introduce a next-generation EV priced around $30,000. The plan involves shrinking battery size, cutting parts and reengineering how vehicles are built as part of a $5 billion investment designed to lower costs, improve efficiency and better compete with Chinese automakers and Tesla. The next-generation EVs will be built on the Universal Electric Vehicle (UEV) platform, starting with a small electric pickup launching in 2027 and later expanding to crossovers. A lighter, more efficient design enables the use of a smaller battery, which usually represents around 40% of an EV’s total cost. By redesigning vehicles from the ground up, Ford expects to cut overall parts by about 20%, reduce fasteners by roughly 25% and lower assembly time by around 15%. At Ford’s Louisville, Kentucky, plant, where the pickup will be built, the company expects to require about 40% fewer workstations and roughly 600 fewer workers due to simplified assembly and lighter components. A key shift is the adoption of a 48-volt electrical architecture, replacing the traditional 12-volt system used for decades. The new system draws power directly from the high-voltage battery, reducing complexity, shortening wiring and improving efficiency while supporting advanced features. Ford’s new midsize electric pickup will use a wiring harness over 4,000 feet shorter and about 22 pounds lighter than its first-generation electric SUV to improve range through weight reduction. Ford also aims to introduce semi-autonomous technology by 2028 that will allow drivers to take their eyes off the road in certain conditions. The company believes the efficiency gains from the new platform will make advanced features more affordable. The strategy comes as Ford reports $19.5 billion write-down tied to its EV business, reinforcing affordability and innovation as central pillars of its electric growth plan. Competiti...
Split image showing Meta data center with logo and Rocket Lab rocket on launch pad at night, highlighting tech and space growth. Key Points Institutional investors continue to pour capital into Meta Platforms and Rocket Lab despite high-profile insider selling by executives. Meta Platforms continues to demonstrate operational efficiency with strong revenue growth and healthy profit margins that at...
Split image showing Meta data center with logo and Rocket Lab rocket on launch pad at night, highlighting tech and space growth. Key Points Institutional investors continue to pour capital into Meta Platforms and Rocket Lab despite high-profile insider selling by executives. Meta Platforms continues to demonstrate operational efficiency with strong revenue growth and healthy profit margins that attract smart money. Rocket Lab maintains a massive backlog of government contracts, which provides long-term revenue visibility and stability for shareholders. Interested in Meta Platforms, Inc.? Here are five stocks we like better. It is a confusing time for retail investors. Markets are trading near record highs, companies are posting massive revenue numbers, and excitement around technology and space exploration is palpable. Yet, a troubling trend has emerged in the headlines. The very people running these successful companies, CEOs, CFOs, and COOs, are selling stock at an aggressive pace. When executives liquidate millions of dollars in shares, it often triggers alarm bells. Investors naturally worry that the insiders know something the public does not. Is the top in? Are growth prospects slowing down? Seeing a chief financial officer (CFO) dump stock can feel like watching the captain put on a life vest while telling passengers the ship is unsinkable. → Defense Stocks Are Soaring—AeroVironment's Earnings Could Close the Gap However, panic is rarely a profitable strategy. While insider selling creates fear, a deeper look at the data can often reveal a powerful counter-signal: institutional accumulation. Hedge funds, pension funds, and investment banks often aggressively buy the very same shares that executives are selling. This divergence between individual profit-taking and institutional conviction can offer a unique opportunity for investors who know where to look. Zuckerberg's Team Cashes Out, But Wall Street Buys In Meta Platforms (NASDAQ: META) has been a dominant f...
Apple ( AAPL ) took the wraps off its new MacBook Air and MacBook Pro laptops on Tuesday, which also include the tech giant's new M5 Pro and M5 Max processors, amid a continued week of product unveilings. On Monday, Apple unveiled the latest version of its low-end smartphone, the iPhone 17e, as well as an updated version of the iPad Air. MacBook Air The new MacBook Air starts with 512GB worth of s...
Apple ( AAPL ) took the wraps off its new MacBook Air and MacBook Pro laptops on Tuesday, which also include the tech giant's new M5 Pro and M5 Max processors, amid a continued week of product unveilings. On Monday, Apple unveiled the latest version of its low-end smartphone, the iPhone 17e, as well as an updated version of the iPad Air. MacBook Air The new MacBook Air starts with 512GB worth of storage and a faster SSD card and can be upgraded to 4TB worth of storage, Apple said. It also contains Apple's N1 wireless chip for Wi-Fi 7 and Bluetooth 6 connectivity. It also sports Apple's 12MP Center Stage camera, has a battery life of up to 18 hours and contains two Thunderbolt 4 ports. It comes with macOS Tahoe and has support for Apple Intelligence. The laptop comes in 13-inch and 15-inch models and is available in sky blue, midnight, starlight, and silver colors. The 13-inch MacBook Air with M5 starts at $1,099 (up from previous models) and $999 for education, while the 15-inch MacBook Air with M5 starts at $1,299 and $1,199 for education. “The new MacBook Air with M5 brings incredible performance and even more capability to the world’s most popular laptop,” said John Ternus, Apple’s senior vice president of Hardware Engineering. “With M5, MacBook Air powers through a wide range of tasks, from everyday productivity to creative workloads, and is even faster for AI. Now featuring double the starting storage, as well as Wi-Fi 7 and Bluetooth 6, in a sleek and durable design with long battery life, MacBook Air is the perfect laptop for anyone who values the unrivaled combination of performance and portability.” The MacBook Air with M5 is available for pre-order starting tomorrow, and is available on March 11. MacBook Pro Apple also unveiled its new MacBook Pro on Tuesday, which also has Apple's new M5 Pro and M5 Max processors. The MacBook Pro starts at 1TB of storage for the M5 Pro and 2TB for the M5 Max. Like the MacBook Air, it also has the N1 chip for wireless netw...
Apple on Tuesday debuted the latest addition to the M-series of chips, as it announced its new M5 Pro and M5 Max, which are powering the new MacBook Pro. The tech giant says the chips are engineered around its new Fusion Architecture, an advanced design that merges two dies into a single, high-performance system on a chip (SoC), which includes a powerful CPU, scalable GPU, Media Engine, unified me...
Apple on Tuesday debuted the latest addition to the M-series of chips, as it announced its new M5 Pro and M5 Max, which are powering the new MacBook Pro. The tech giant says the chips are engineered around its new Fusion Architecture, an advanced design that merges two dies into a single, high-performance system on a chip (SoC), which includes a powerful CPU, scalable GPU, Media Engine, unified memory controller, Neural Engine, and Thunderbolt 5 capabilities. Both chips feature an 18-core CPU, marking an upgrade from the 14-core configuration in the M4 Pro and the 16-core in the M4 Max. The CPU now features six “super cores,” which is Apple’s term for its highest-performance cores, alongside 12 all-new performance cores. Collectively, the CPU boosts performance by up to 30% for pro workloads. “The GPU scales up the next-generation architecture introduced in M5 to an up-to-40-core GPU,” Apple explained in a press release. “With a Neural Accelerator in each GPU core and higher unified memory bandwidth, M5 Pro and M5 Max are over 4x the peak GPU compute for AI compared to the previous generation.” Graphics performance is up to 20% faster overall, with ray-tracing workloads improving by as much as 35%. M5 Pro supports up to 64GB of unified memory, up from 48GB on M4 Pro, with bandwidth of 307GB/s. M5 Max continues to support up to 128GB of unified memory, with bandwidth increased to 614GB/s. Techcrunch event Disrupt 2026: The tech ecosystem, all in one room Your next round. Your next hire. Your next breakout opportunity. Find it at TechCrunch Disrupt 2026, where 10,000+ founders, investors, and tech leaders gather for three days of 250+ tactical sessions, powerful introductions, and market-defining innovation. Register now to save up to $400. Save up to $300 or 30% to TechCrunch Founder Summit 1,000+ founders and investors come together at TechCrunch Founder Summit 2026 for a full day focused on growth, execution, and real-world scaling. Learn from founders and investor...
TheaDesign/iStock via Getty Images Updating My Buy Rating On PATH Since my upgrade to Buy for the UiPath, Inc. ( PATH ) stock in mid-November 2025 , the price dropped by over 24%, and it keeps sliding lower on macro and Claude-related fears that PATH will ultimately lose a big part of its TAM in the next few years. However, based on what we see from PATH's Q3 financials and business updates, and t...
TheaDesign/iStock via Getty Images Updating My Buy Rating On PATH Since my upgrade to Buy for the UiPath, Inc. ( PATH ) stock in mid-November 2025 , the price dropped by over 24%, and it keeps sliding lower on macro and Claude-related fears that PATH will ultimately lose a big part of its TAM in the next few years. However, based on what we see from PATH's Q3 financials and business updates, and taking into account the firm's plans for 2026 (and beyond that), I think the current fears are becoming too overblown. The company is about to release its Q4 results on March 11, 2026 , and I see a high probability of another double beat, given that the recent earnings revisions do not appear to be fully supported by PATH's actual fundamentals. After the multiple contractions we've seen since late 2025, PATH looks quite attractive for medium-term GARP investors, so I remain bullish in the medium term. Previewing UiPath's Upcoming Earnings UiPath has been growing rapidly throughout 2025, as the market was seeing its automation offerings through a bullish lens. Their UiPath ScreenPlay was designed to "turn (their customers') intent into autonomous actions across any interface, at enterprise scale," as the recent IR presentation noted . Another offering—UiPath IXP - adds agentic document processing capabilities, with plenty of features that make their clients' lives easier. PATH's IR materials But then Anthropic ( ANTHRO ) - the well-known SaaS disruptor - acquired Vercept , which enhances their Claude model's ability to interact directly with computer interfaces, and so the market started to question PATH's offerings' relevance even more. I think investors are worried that Claude, or whatever model Anthropic/OpenAI can roll out next, will see and click a screen autonomously with minimal errors, making PATH an outdated thing. Anthropic's press release However, I think it's premature to write off PATH's offerings. First off, they're growing nicely. In Q3, we saw a YoY revenue ri...
Heather Diehl/Getty Images News Two Republican senators want the Trump administration to enact a $200B tax cut without Congressional approval, as the GOP strives to boost its economic approval rating ahead of the 2026 midterm elections, according to a media report on Tuesday. Sens. Tim Scott (R-SC) and Ted Cruz (R-TX) will send a letter to Treasury Secretary Scott Bessent on Tuesday, requesting hi...
Heather Diehl/Getty Images News Two Republican senators want the Trump administration to enact a $200B tax cut without Congressional approval, as the GOP strives to boost its economic approval rating ahead of the 2026 midterm elections, according to a media report on Tuesday. Sens. Tim Scott (R-SC) and Ted Cruz (R-TX) will send a letter to Treasury Secretary Scott Bessent on Tuesday, requesting him to use executive authority to reduce taxes paid on capital gains, which would lower the tax burden on Americans selling stock, The Washington Post reported, citing a copy of the letter it reviewed. The senators contend that the White House doesn't require congressional approval for the move, in contrast with some conservative legal experts and Treasury officials who have drawn a different conclusion in the past. Conservatives have been pushing for such a plan, which indexes capital gains for inflation, for many years, The Post said. Under current law, an investor who bought $100 worth of stock in 1990 and sold it for $300 today would owe capital gains taxes on the full $200 in profit. But, accounting for inflation, the $100 investment made in 1990 would be worth ~$230 in today's dollars. Under the Cruz-Scott proposal, the investor would only owe taxes on that $70 (or the difference between $300 and $230), rather than the full $200. Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here t o join the separate political discussion. More on Politics Investors Ignore War Time Risks Invesco says stay calm and invested as stocks often climb after war-driven volatility Appeals court denies Trump administration's request to pause legal fight over refunds
Apple ( AAPL ) took the wraps off its new MacBook Air and MacBook Pro laptops on Tuesday, which also include the tech giant's new M5 Pro and M5 Max processors, amid a continued week of product unveilings. On Monday, Apple unveiled the latest version of its low-end smartphone, the iPhone 17e, as well as an updated version of the iPad Air. MacBook Air The new MacBook Air starts with 512GB worth of s...
Apple ( AAPL ) took the wraps off its new MacBook Air and MacBook Pro laptops on Tuesday, which also include the tech giant's new M5 Pro and M5 Max processors, amid a continued week of product unveilings. On Monday, Apple unveiled the latest version of its low-end smartphone, the iPhone 17e, as well as an updated version of the iPad Air. MacBook Air The new MacBook Air starts with 512GB worth of storage and a faster SSD card and can be upgraded to 4TB worth of storage, Apple said. It also contains Apple's N1 wireless chip for Wi-Fi 7 and Bluetooth 6 connectivity. It also sports Apple's 12MP Center Stage camera, has a battery life of up to 18 hours and contains two Thunderbolt 4 ports. It comes with macOS Tahoe and has support for Apple Intelligence. The laptop comes in 13-inch and 15-inch models and is available in sky blue, midnight, starlight, and silver colors. The 13-inch MacBook Air with M5 starts at $1,099 (up from previous models) and $999 for education, while the 15-inch MacBook Air with M5 starts at $1,299 and $1,199 for education. “The new MacBook Air with M5 brings incredible performance and even more capability to the world’s most popular laptop,” said John Ternus, Apple’s senior vice president of Hardware Engineering. “With M5, MacBook Air powers through a wide range of tasks, from everyday productivity to creative workloads, and is even faster for AI. Now featuring double the starting storage, as well as Wi-Fi 7 and Bluetooth 6, in a sleek and durable design with long battery life, MacBook Air is the perfect laptop for anyone who values the unrivaled combination of performance and portability.” The MacBook Air with M5 is available for pre-order starting tomorrow, and is available on March 11. MacBook Pro Apple also unveiled its new MacBook Pro on Tuesday, which also has Apple's new M5 Pro and M5 Max processors. The MacBook Pro starts at 1TB of storage for the M5 Pro and 2TB for the M5 Max. Like the MacBook Air, it also has the N1 chip for wireless netw...
Image source: The Motley Fool. Tuesday, March 3, 2026 at 8:30 a.m. ET Call participants Chief Executive Officer and Co-Founder — Kevin J. Knopp Chief Financial Officer — Joseph H. Griffith Need a quote from a Motley Fool analyst? Email [email protected] Takeaways Revenue -- $17.4 million for the quarter, reflecting 21% year-over-year growth, with principal drivers from increased demand for Explore...
Image source: The Motley Fool. Tuesday, March 3, 2026 at 8:30 a.m. ET Call participants Chief Executive Officer and Co-Founder — Kevin J. Knopp Chief Financial Officer — Joseph H. Griffith Need a quote from a Motley Fool analyst? Email [email protected] Takeaways Revenue -- $17.4 million for the quarter, reflecting 21% year-over-year growth, with principal drivers from increased demand for Explorer, Viper launches, and expansion in state and local markets. -- $17.4 million for the quarter, reflecting 21% year-over-year growth, with principal drivers from increased demand for Explorer, Viper launches, and expansion in state and local markets. Adjusted EBITDA -- Positive $700,000 in the quarter compared to a $4 million loss last year, attributed to transformation initiatives and cost restructuring. -- Positive $700,000 in the quarter compared to a $4 million loss last year, attributed to transformation initiatives and cost restructuring. Full-year revenue -- $56.2 million, up 18%, with FTIR replacement accounting for more than 50% of device placements and notable traction in international and NATO-aligned countries. -- $56.2 million, up 18%, with FTIR replacement accounting for more than 50% of device placements and notable traction in international and NATO-aligned countries. Recurring revenue -- 22% year-over-year growth and 35% of annual revenues ($5.5 million in Q4, 32% of total), driven by services, software, and accessories. -- 22% year-over-year growth and 35% of annual revenues ($5.5 million in Q4, 32% of total), driven by services, software, and accessories. Gross profit -- $9.2 million for the quarter, up from $6.7 million, with quarterly gross margin at 53% versus 47% prior-year due to higher volume and favorable sales channel mix. -- $9.2 million for the quarter, up from $6.7 million, with quarterly gross margin at 53% versus 47% prior-year due to higher volume and favorable sales channel mix. Adjusted gross margin -- 57% for the full year 2025 (530 basis ...
Meta Platforms似乎在人工智能竞赛中又迈出一步，此次是在其聊天机器人中测试一项购物功能，旨在更直接地与OpenAI的ChatGPT和Alphabet的Gemini竞争。 这项功能目前正在向部分美国用户在Meta AI网页体验中测试，允许人们用自然语言寻求产品推荐。聊天机器人不再仅仅用文字回复，而是回复一组可滚动的产品图片，并附上品牌名称、价格详情和购买链接。它还会简短说明推荐这些商品的...
Meta Platforms似乎在人工智能竞赛中又迈出一步，此次是在其聊天机器人中测试一项购物功能，旨在更直接地与OpenAI的ChatGPT和Alphabet的Gemini竞争。 这项功能目前正在向部分美国用户在Meta AI网页体验中测试，允许人们用自然语言寻求产品推荐。聊天机器人不再仅仅用文字回复，而是回复一组可滚动的产品图片，并附上品牌名称、价格详情和购买链接。它还会简短说明推荐这些商品的原因。 这是一个微妙但重要的转变。人工智能工具正日益成为购物研究的起点，而不仅仅是搜索引擎。这意味着，掌控界面的平台也可能影响消费者支出的流向。 责任编辑：张俊 SF065
JHVEPhoto/iStock Editorial via Getty Images Lumentum ( LITE ) has strengthened its position as a strategic partner in providing critical laser supply following Nvidia's ( NVDA ) substantial investment in the company, according to GF Securities. "Nvidia's US $2bn investment in Lumentum reinforces its commitment to securing critical laser supply as AI interconnect architectures transition toward CPO...
JHVEPhoto/iStock Editorial via Getty Images Lumentum ( LITE ) has strengthened its position as a strategic partner in providing critical laser supply following Nvidia's ( NVDA ) substantial investment in the company, according to GF Securities. "Nvidia's US $2bn investment in Lumentum reinforces its commitment to securing critical laser supply as AI interconnect architectures transition toward CPO/NPO," said GF Securities analyst Jeff Pu in a Tuesday investor note. "The move strengthens LITE's strategic position in next-generation optical networking while de-risking capacity and technology alignment for future Scale Up deployments." GF reiterated its Buy rating and increased its price target on the stock to $950 from $765. "We model Rubin Ultra shipments of 1.0m/5.0m units in 2027/2028, translating into approximately $356m/$1.6bn of revenue for Lumentum, with Scale Up becoming the key growth driver from late 2027 onward," Pu added. "Looking further ahead, a structural shift toward optical I/O (OIO) in next-gen architectures could further increase laser content per system, adding incremental upside." As part of the deal with Lumentum, the two companies will focus on accelerating innovation in advanced optics technologies to enable next-generation AI infrastructure and systems designs. The nonexclusive agreement also allows Nvidia to make a multibillion-dollar purchase commitment and future capacity access rights for advanced laser components. Nvidia's $2B investment will support Lumentum's R&D and capacity buildout. More on Lumentum Lumentum Holdings Inc. (LITE) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript Lumentum Holdings: The Laser Winner In AI Why Lumentum Wins Over Coherent (For Now) Top 10 Information Technology Stocks of February Lumentum, Coherent jump amid Nvidia partnerships, investments
The UK said it may revive so-called switch auctions to improve gilt-market liquidity. Switch auctions are used by governments to allow the exchange of a certain bond for another. While popular elsewhere, they were last used by the UK in 2001. Both dealer banks and gilt investors supported the use of switch auctions in recent meetings with the nation’s Debt Management Office, which is responsible f...
The UK said it may revive so-called switch auctions to improve gilt-market liquidity. Switch auctions are used by governments to allow the exchange of a certain bond for another. While popular elsewhere, they were last used by the UK in 2001. Both dealer banks and gilt investors supported the use of switch auctions in recent meetings with the nation’s Debt Management Office, which is responsible for bond issuance. The DMO said Tuesday it “may” use them in the fiscal year starting April, though it does not “currently envisage” doing so in the first three months of its annual program. “Any such operations will be used to promote liquidity in certain gilts, including at benchmark maturities,” the DMO said Tuesday in announcing its financing plans , adding it will engage further with market participants before any decision. In a January meeting with the DMO, gilt dealers expressed “some support” for switch auctions to “supply benchmark long-dated gilts in order to encourage liquidity without increasing absolute supply in the sector.” Some investors echoed that sentiment, saying it could “support liquidity in benchmark long conventional gilts,” the minutes show. The DMO statement on Tuesday did not mention long-dated gilts specifically. “Switch auctions may be employed for various purposes — for example, to maintain a supply of current benchmark gilts in a low financing environment or for redemption management purposes,” a DMO note on gilt-market operations updated last year said. Circumstances have changed vastly since the UK last held switch auctions. They were used around the turn of the millenium when they were intended as a tool to build up benchmark gilts at a time of low outright issuance. Nowadays, low issuance isn’t a problem. The UK said Tuesday it will sell £252 billion of gilts in the coming fiscal year, among the biggest packages on record.