Spanish police have broken up a vast cocaine trafficking operation that used speed boats to bring the drug onshore from floating bases in the Atlantic, seizing around 10 tonnes of the drug and arresting 105 suspects. Police said on Monday that a year-long investigation in cooperation with law enforcement in countries including Cabo Verde, formerly known as Cape Verde, Colombia, France, Portugal...
Spanish police have broken up a vast cocaine trafficking operation that used speed boats to bring the drug onshore from floating bases in the Atlantic, seizing around 10 tonnes of the drug and arresting 105 suspects. Police said on Monday that a year-long investigation in cooperation with law enforcement in countries including Cabo Verde, formerly known as Cape Verde, Colombia, France, Portugal and the US showed the group brought an estimated 57 tonnes of cocaine to Europe in the period. Speed boats - operating at night from rivers in southern Spain, the northwestern Galicia region and the Canary Islands, as well as from Portugal and Morocco - navigated far into the Atlantic to offload drugs from transport and storage ships. Advertisement “They managed to create genuine aquatic platforms where pilots would remain at sea for over a month at a time, carrying out several successive operations”, while other members used sophisticated equipment to monitor security agencies’ communications and movements, a police statement said. A semi-submersible craft carrying cocaine that was intercepted off the Azores archipelago by Portuguese authorities. Photo: Forca Aerea Portuguesa via AFP Officers seized 30 boats, 70 vehicles and numerous pieces of hi-tech communications and surveillance equipment. Advertisement The investigation also showed that at one point the group paid as much as €12 million (US$14.2 million) to the family of a deceased crew member in order to buy their silence.
US tech firm Micron Technology, Inc. will invest $24 billion over ten years to advance wafer fabrication facility in Singapore. The firm which has broken ground on the advanced wafer fabrication facility located within the company’s existing NAND manufacturing complex in Singapore, said the new facility is designed to ultimately provide 700,000 square feet of cleanroom space. Wafer output is sched...
US tech firm Micron Technology, Inc. will invest $24 billion over ten years to advance wafer fabrication facility in Singapore. The firm which has broken ground on the advanced wafer fabrication facility located within the company’s existing NAND manufacturing complex in Singapore, said the new facility is designed to ultimately provide 700,000 square feet of cleanroom space. Wafer output is scheduled to begin in the second half of calendar 2028, helping Micron address growing market demand for NAND technology driven by the rapid expansion of AI and data-centric applications. “Micron’s leadership in advanced memory and storage is enabling the artificial intelligence (AI)-driven transformation reshaping the global economy, “This investment underscores Micron’s long-term commitment to Singapore as an important hub in our global manufacturing network, enhancing supply chain resiliency and fostering a vibrant ecosystem for innovation,” said Manish Bhatia, executive vice president of global operations at Micron Technology. According to the statement, this new fab will become an integral part of Micron’s NAND Center of Excellence in Singapore. The facility provides the essential capacity to support continued technology transitions, positioning Micron to meet long-term demand for advanced storage solutions. Additionally, co-locating research and development (R&D) with manufacturing improves efficiencies, accelerates time-to-market and deepens research partnerships between industry and academia. Micron’s previously announced high-bandwidth memory (HBM) advanced packaging facility, also located in the same Singapore manufacturing complex, is on track to contribute meaningfully to Micron’s HBM supply in calendar year 2027. As HBM becomes a part of Micron’s Singapore manufacturing footprint, the company expects opportunities for synergies between NAND and DRAM production. Micron said it will maintain flexibility in managing the pace of capacity ramps in the new facility to ali...
Alphotographic/iStock via Getty Images By Elior Manier The dollar ( DXY ) has taken quite a significant hit after its strong start to 2026. This is precisely what happens when technicals align with changing fundamentals. As noted in our pre-Greenland chaos analysis, the Dollar Index was already showing signs of imminent technical weakness. So, when Donald Trump decided not only to launch an invest...
Alphotographic/iStock via Getty Images By Elior Manier The dollar ( DXY ) has taken quite a significant hit after its strong start to 2026. This is precisely what happens when technicals align with changing fundamentals. As noted in our pre-Greenland chaos analysis, the Dollar Index was already showing signs of imminent technical weakness. So, when Donald Trump decided not only to launch an investigation into Jerome Powell but also to threaten his historic allies, what was seen as a slow, progressive dedollarization quickly became a catastrophe for the US dollar. Some European funds are selling their dollar-denominated debt assets in concern over new, aggressive policies from the current administration, and by actively seeking alternatives, reducing dollar demand. This is leading, in part, to the current decline. Combined with a seasonal tendency for the US dollar to drop ahead of interest rate decisions during cutting cycles, the weekly drop is getting extreme. Fewer participants can absorb sudden outflows ahead of FOMC meetings for risk management reasons, amplifying such moves. This de-dollarization explains the ongoing run in gold (which just hit $5,000 today) and other metals - the debasement trade, for those unfamiliar with the trending financial term. US Dollar Performance against other FX Majors since last Thursday (Source: TradingView) Looking back at the September cut, for example , the Dollar Index had reached 2025 yearly lows, a fast-paced selloff just two days ahead of the rate decision. The current situation shows similar conditions, despite no rate cuts anticipated. What interests traders is whether the selloff will continue after the FOMC. For additional foundational context, I strongly encourage you to explore our FOMC preview . With the Fed Funds rate expected to be kept unchanged, investors and institutions will be listening closely to Powell's speech. A bit less than two rate cuts are currently priced for 2026. With labor conditions seemingly wor...
TE Connectivity ( TEL ) said that its subsidiary Tyco Electronics Group S.A priced $750M senior notes offering. This includes $200M of additional 4.500% notes due 2031 and $550M aggregate principal amount of its 4.875% senior notes due 2036. Following the closing of the offering, there will be $650M of 2031 notes outstanding. The additional 2031 notes will be issued at a price of 100.907% and will...
TE Connectivity ( TEL ) said that its subsidiary Tyco Electronics Group S.A priced $750M senior notes offering. This includes $200M of additional 4.500% notes due 2031 and $550M aggregate principal amount of its 4.875% senior notes due 2036. Following the closing of the offering, there will be $650M of 2031 notes outstanding. The additional 2031 notes will be issued at a price of 100.907% and will have a stated interest rate of 4.500% per year, payable semi-annually. The 2036 notes will be issued at a price of 99.718% and will have a stated interest rate of 4.875% per year, payable semi-annually. The net proceeds will be used to repay maturing debt, such as the 3.700% and 4.500% senior notes due 2026, plus general corporate purposes. The offering is expected to close on February 9, 2026. More on TE Connectivity TE Connectivity: A Booming AI Business Lifts Spirits TE Connectivity plc (TEL) Q1 2026 Earnings Call Transcript TE Connectivity plc 2026 Q1 - Results - Earnings Call Presentation TE Connectivity signals double-digit EPS growth for 2026 amid record $5.1B orders and AI momentum TE Connectivity Non-GAAP EPS of $2.72 beats by $0.17, revenue of $4.67B beats by $130M
SK Hynix Inc. shares jumped, headed for an all-time high closing level, after local media said the company is the sole supplier of advanced memory for Microsoft Corp. ’s new artificial intelligence chip. The stock rose as much as 7.7% on the Korea Exchange, erasing an early loss on the latest tariff threat from US President Donald Trump. The shares have continued to climb this year, extending an A...
SK Hynix Inc. shares jumped, headed for an all-time high closing level, after local media said the company is the sole supplier of advanced memory for Microsoft Corp. ’s new artificial intelligence chip. The stock rose as much as 7.7% on the Korea Exchange, erasing an early loss on the latest tariff threat from US President Donald Trump. The shares have continued to climb this year, extending an AI-fueled rally that has driven the South Korean company to a market value of nearly $400 billion. Each of the Maia 200 accelerators unveiled by Microsoft on Monday will use six units of SK Hynix’s HBM3E, Maeil Business Newspaper reported, citing chip industry and brokerage sources. SK Hynix is unable to confirm or disclose any customer-related information, a company spokesperson said in a text message. The firm’s shares have surged tenfold in around three years, riding investor enthusiasm for AI thanks to its early supply deal with Nvidia Corp. Pricing of legacy memory chips has started to improve as well, boosting the outlook for SK Hynix ahead of its results due Thursday. Tuesday’s gain was supported by “dip buying and rising HBM earnings expectations,” said Jung In Yun , chief executive officer at Fibonacci Asset Management Global. “We will probably see SK Hynix earnings meeting expectations again,” he added. Another positive tailwind came as Citigroup Inc. hiked its price target for SK Hynix by 56% to a street-high 1,400,000 won. They maintained their buy rating and opened a 30-day upside catalyst watch on the stock. “The memory market is shifting toward semi-customization, with memory customers required to sign a contract a year prior to actual product delivery,” analyst Peter Lee wrote in a note Monday. “In 2026, we foresee global DRAM/NAND pricing growth to be significantly better than expected.”
China’s ( BYDDF ) announced Tuesday that it aims to strengthen its collaboration with U.S. oil giant Exxon Mobil ( XOM ) in hybrid technology. Under a long-term strategic memorandum of understanding agreement signed on Monday, the two companies will explore customized product research and development, collaborative possibilities in new material applications, among other fields, Reuters reported. B...
China’s ( BYDDF ) announced Tuesday that it aims to strengthen its collaboration with U.S. oil giant Exxon Mobil ( XOM ) in hybrid technology. Under a long-term strategic memorandum of understanding agreement signed on Monday, the two companies will explore customized product research and development, collaborative possibilities in new material applications, among other fields, Reuters reported. BYD ( BYDDY ) launched engine oil jointly with Exxon Mobil ( XOM ) specifically designed for its plug-in EVs last year. More on Exxon Mobil, BYD Co ADR Exxon Mobil: Strong Business, Weak Risk-Reward Ahead Of Q4 (Rating Downgrade) Exxon Mobil Vs. Chevron: One Oil Giant Stands Above The Other Exxon Mobil: A Solid Hold Even If Venezuela Is 'Uninvestable' Exxon launches commercial carbon capture project with CF Industries in Louisiana Exxon's XTO unit seeks buyers for some Eagle Ford assets - Reuters
Ning Zhu, Senior Macro Strategist at Primavera Capital Group and Professor at the Shanghai Advanced Institute of Finance, discusses his outlook for China's economic growth. He speaks with Stephen Engle from the sidelines of the Goldman Sachs Global Macro Conference Asia Pacific in Hong Kong. (Source: Bloomberg)
Ning Zhu, Senior Macro Strategist at Primavera Capital Group and Professor at the Shanghai Advanced Institute of Finance, discusses his outlook for China's economic growth. He speaks with Stephen Engle from the sidelines of the Goldman Sachs Global Macro Conference Asia Pacific in Hong Kong. (Source: Bloomberg)
matejmo/iStock via Getty Images Market Review Equity markets in the developing world, as measured by the MSCI Emerging Markets Index, rose 4.7% in the fourth quarter, as risk appetites remained largely resilient amid investor enthusiasm for artificial intelligence ( AI ) and despite tariff risks and geopolitical risks. Latin America was the best-performing region, climbing 8.2%. Stock markets in C...
matejmo/iStock via Getty Images Market Review Equity markets in the developing world, as measured by the MSCI Emerging Markets Index, rose 4.7% in the fourth quarter, as risk appetites remained largely resilient amid investor enthusiasm for artificial intelligence ( AI ) and despite tariff risks and geopolitical risks. Latin America was the best-performing region, climbing 8.2%. Stock markets in Chile and Peru gained in sympathy with the rise in commodity prices. Brazil's stock market rose, thanks to interest rate cuts locally and in the US. Argentina's stock market jumped on news that libertarian President Javier Milei won a landslide victory in midterm elections, handing him a mandate to continue pursuing his radical overhaul of the country's economy. The region encompassing emerging Europe, the Middle East, and Africa (EMEA) was the worst-performing region, rising 4.0%. Stock markets in Poland, Hungary, and the Czech Republic rose, as investors began to anticipate better economic prospects and a possibility of a peace agreement between Russia and Ukraine. South Africa's stock market rose in sympathy with the rise in the price of gold. Emerging Asia also underperformed, advancing 4.5%. Stock markets in global technology hubs Korea and Taiwan rose on optimism about the demand outlook for chips, the flagship industry of both countries, despite wavering sentiment in November. China's stock market fell on concerns about the country's economic outlook. Information technology, materials, and energy were the best-performing sectors in the period. Consumer discretionary, health care and communication services were the worst-performing sectors. (Index returns were measured net of taxes and in US dollar terms. ) Portfolio Review In the fourth quarter, the Lazard Developing Markets Equity Portfolio rose in absolute terms but underperformed its benchmark, the MSCI Emerging Markets Index. (Excess return was measured net of fees and in US dollar terms). Helped Stock selection i...
Women’s No 1 survives soaring temperature to defeat teenager 6-3, 6-0 Melbourne Park enacts extreme heat protocols on way to 45C By the second set of Aryna Sabalenka’s 13th consecutive grand slam quarter-final, it was quickly becoming clear that the best tennis player in the world had reached flow state and she could do anything she wanted with the ball. Up 2-0 and mercilessly hunting a double bre...
Women’s No 1 survives soaring temperature to defeat teenager 6-3, 6-0 Melbourne Park enacts extreme heat protocols on way to 45C By the second set of Aryna Sabalenka’s 13th consecutive grand slam quarter-final, it was quickly becoming clear that the best tennis player in the world had reached flow state and she could do anything she wanted with the ball. Up 2-0 and mercilessly hunting a double break, Sabalenka swept forward to the net and executed a sickly sweet forehand half-volley winner that would have satisfied even the legendary volleyers of yesteryear. There was once a time when a great performance from Sabalenka meant the Belarusian pummelling every ball, aiming for every line and praying that her shots would happen to land in. She has worked herself into such a well-rounded player today, who suffocates her opponents through the completeness of her game and has so many options at her disposal. Despite a valiant effort from her young opponent to simply prolong their high-quality opening set, Sabalenka bulldozed Jovic 6-3, 6-0 to continue her run through the draw. Continue reading...
Jeffrey Katzenberg and Sujay Jaswa, Founding Partners at WndrCo, discusses the investment opportunities in the technology, AI and media sectors. They speak with Stephen Engle from the sidelines of the Goldman Sachs Global Macro Conference Asia Pacific in Hong Kong. (Source: Bloomberg)
Jeffrey Katzenberg and Sujay Jaswa, Founding Partners at WndrCo, discusses the investment opportunities in the technology, AI and media sectors. They speak with Stephen Engle from the sidelines of the Goldman Sachs Global Macro Conference Asia Pacific in Hong Kong. (Source: Bloomberg)