Chinese consumers have filed a new class-action lawsuit against Tesla (NasdaqGS:TSLA) alleging fraudulent marketing and consumer deception related to its Full Self-Driving feature in China. The case targets Tesla's largest international market and raises questions around how the company presents its advanced driver assistance capabilities. At the same time, Tesla's humanoid robotics and autonomy a...
Chinese consumers have filed a new class-action lawsuit against Tesla (NasdaqGS:TSLA) alleging fraudulent marketing and consumer deception related to its Full Self-Driving feature in China. The case targets Tesla's largest international market and raises questions around how the company presents its advanced driver assistance capabilities. At the same time, Tesla's humanoid robotics and autonomy ambitions face sharper competition as OpenAI launches a robotics division and Nvidia expands its...
Unassisted home births and vaccine refusal put mothers and newborns at life-threatening risks, a Hong Kong doctor and a children’s rights group have said, stressing that parental choice must not come at the expense of an infant’s well-being. Their warnings followed the arrest of a Hong Kong couple on suspicion of child neglect. The pair claimed to have given birth to their third child, Danny, at h...
Unassisted home births and vaccine refusal put mothers and newborns at life-threatening risks, a Hong Kong doctor and a children’s rights group have said, stressing that parental choice must not come at the expense of an infant’s well-being. Their warnings followed the arrest of a Hong Kong couple on suspicion of child neglect. The pair claimed to have given birth to their third child, Danny, at home and had not registered his birth, citing privacy concerns in refusing to submit to a DNA...
In May 2026, Richtech Robotics reported receiving a Nasdaq notice that it was out of compliance with listing rules after missing the deadline for its March 31, 2026 Form 10-Q filing, triggering a formal timeline to submit a remediation plan or face potential delisting. The situation places unusual focus on the company’s financial reporting controls and disclosure practices, as timely SEC filings a...
In May 2026, Richtech Robotics reported receiving a Nasdaq notice that it was out of compliance with listing rules after missing the deadline for its March 31, 2026 Form 10-Q filing, triggering a formal timeline to submit a remediation plan or face potential delisting. The situation places unusual focus on the company’s financial reporting controls and disclosure practices, as timely SEC filings are a core requirement for maintaining access to public equity markets. With the Nasdaq...
India’s central bank said a report that it’s selling gold is “not correct,” pointing to data showing its physical stock of gold has remained unchanged. Latest figures in the Reserve Bank of India’s Monthly Bulletin show the stock of physical gold was steady at 880.52 metric tons during April. The stock was at that level “as on date,” the central bank said in a statement Wednesday. Separately, the ...
India’s central bank said a report that it’s selling gold is “not correct,” pointing to data showing its physical stock of gold has remained unchanged. Latest figures in the Reserve Bank of India’s Monthly Bulletin show the stock of physical gold was steady at 880.52 metric tons during April. The stock was at that level “as on date,” the central bank said in a statement Wednesday. Separately, the Press Information Bureau said in a post on X that the share of gold in India’s foreign exchange reserves rose to 16.7% by March 31 from about 14% at the end of September. Bloomberg Economics estimated in a report Tuesday that the central bank likely sold gold reserves worth about $12 billion in the two weeks through May 22, while buying $7.5 billion of foreign-currency assets. Latest data up to the end of March shows the RBI held about 77% of its gold locally, up from 66% in September.
Morning, I’m Chloé Meley from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Turns out the UK retail sector may not be in such bad shape after all. Despite weak consumer confidence and the prospect of higher interest rates, two major retail turnarounds are starting to bear fruit. Debenhams Group, formerly Boohoo, returned to growth in the quarter to Ma...
Morning, I’m Chloé Meley from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Turns out the UK retail sector may not be in such bad shape after all. Despite weak consumer confidence and the prospect of higher interest rates, two major retail turnarounds are starting to bear fruit. Debenhams Group, formerly Boohoo, returned to growth in the quarter to May 31 and expects double-digit profit growth this fiscal year. CEO Dan Finley credited the recovery to the “heavy lifting” of a multi-year transformation that included warehouse consolidation, lower inventory levels and a new e-commerce platform. At B&M, a tough market and execution missteps made for a difficult year. But the discount retailer is beginning to see early gains from its turnaround plan, launched in October, which focuses on sharper pricing and better product availability. The company also said it expects to offset higher freight and energy costs linked to the Middle East conflict and sees “no reason why” B&M UK cannot return to double-digit margins over the medium term. The stock climbed 7%. That cautious optimism may offer some relief to investors. But with the war continuing to squeeze household budgets and complicate the Bank of England’s path, the sector is still walking a tightrope. What’s your take? Ping me on X , LinkedIn or drop me an email at cmeley@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 MPs are calling on the government to end a £330 million NHS contract with Palantir , after a report from a parliamentary committee said the controversial US data company has a “clear mismatch” with British values. Would-be prime minister Andy Burnham cancelled a call with hedge fund managers this week to discuss fiscal policy and the bond market, amid fears that he may increase public spending and gilt issuance if he becomes PM. The Bank of England should ditch ...
The companies that can provide the most economic value from the power their AI uses will ultimately command the highest valuations, Perplexity CEO Aravind Srinivas told CNBC on Wednesday. Srinivas said that whichever company can provide the “most taken value per watt per user” will be the winner in the future. “Whoever is able to maximize this particular objective really will, by balancing accurac...
The companies that can provide the most economic value from the power their AI uses will ultimately command the highest valuations, Perplexity CEO Aravind Srinivas told CNBC on Wednesday. Srinivas said that whichever company can provide the “most taken value per watt per user” will be the winner in the future. “Whoever is able to maximize this particular objective really will, by balancing accuracy, latency, cost, privacy and intelligence all together, they’re going to win, that’s what’s going to win long term,” Srinivas told CNBC in an interview on Wednesday. Perplexity AI, a San Francisco-based startup, is backed by Nvidia ( NVDA ), SoftBank ( SFTBY ), and Jeff Bezos. A token refers to the basic unit of data that an AI model can process. When an AI chatbot is asked to carry out a task, it breaks it down into tokens. Each token then requires energy to be processed. Srinivas’ view is that whichever company can provide the best ratio of energy to economic output will be in the strongest position. “And so it might feel like some model providers are making a lot of money because their models are very expensive ... but that’s short-term revenue growth,” Srinivas said. Artificial Intelligence/Robotics ETFs: ( AIQ ), ( BOTZ ), ( DTEC ), ( WTAI ), ( XAIX ), ( WISE ), ( GINN ), ( ROBT ), ( TECB ), ( XT ), ( THNQ ), and ( CHAT ). More on markets, Global PMI Shows Factory Growth Spurt Amid Boost From Price And Supply Worries Electrolux Professional AB (publ) (ECTXF) Presents at Svenska Handelsbanken Nordic Small & Mid Cap Seminar - Slideshow Rhythm Pharmaceuticals: The Rare Obesity Platform Is Becoming A Commercial Engine Highwood Asset Management announces sale of Wilson Creek assets to Obsidian Energy for up to $112M Palo Alto Networks projects $3.345B-$3.355B Q4 revenue while targeting 40% free cash flow margin in fiscal 2028
undefined/iStock via Getty Images Investment Thesis Note: This is an update to my previous article . Innovative Aerosystems ( ISSC ) has largely completed the integration of the Honeywell assets, and now margins have recovered, free cash flow has improved a lot, and backlog has resumed growth. More importantly, management is now using the better financial position to be active in M&A, transforming...
undefined/iStock via Getty Images Investment Thesis Note: This is an update to my previous article . Innovative Aerosystems ( ISSC ) has largely completed the integration of the Honeywell assets, and now margins have recovered, free cash flow has improved a lot, and backlog has resumed growth. More importantly, management is now using the better financial position to be active in M&A, transforming ISSC from a niche avionics supplier into a potential consolidator within the aerospace niche. While management's revenue target of $250 million by 2029 is ambitious, I believe the market is underestimating the potential earnings growth even if the goal is not reached, leading me to assign a Buy rating again. What Has Changed So Far? This isn't the first time I've written about Innovative Aerosystems (formerly Innovative Solutions & Support), and when I last covered it in August 2025, the question was if management could successfully integrate the Honeywell assets while protecting margins, given that it was a very large acquisition with high costs due to the debt issued and the integration itself. In the recent results, this question has been answered for me. While the gross margin fell from 55% in 2024 to 48% at the close of 2025 (because of the acquisition), it had already returned to 54% by Q1 2026, and in the most recent Q2 2026, it remained above 50%. However, the company has very marked seasonality between quarters, as can be seen in the image below, so I prefer to analyze the results by periods to try to reduce this effect. Data by YCharts In the first half of fiscal year 2026, sales grew 16.5%, but what I was interested in knowing (the margins) also showed incredible strength, as operating profit grew 34.9% and free cash flow nearly 6-fold. Also, by the end of Q1 2026, it was clear that the acquisition of Honeywell's assets was fully digested, as cash on the balance sheet increased from $2.7 million to just over $8 million, and total debt remained stable. This had a...
Sohel_Parvez_Haque Highwood Asset Management ( HAM:CA ) announced it has entered into a definitive asset purchase and sale agreement to divest its Wilson Creek assets to Obsidian Energy ( OBE ) for total consideration of up to $112 million. Under the terms of the agreement, Highwood will receive an upfront cash consideration of $105 million upon closing, subject to typical closing adjustments. T h...
Sohel_Parvez_Haque Highwood Asset Management ( HAM:CA ) announced it has entered into a definitive asset purchase and sale agreement to divest its Wilson Creek assets to Obsidian Energy ( OBE ) for total consideration of up to $112 million. Under the terms of the agreement, Highwood will receive an upfront cash consideration of $105 million upon closing, subject to typical closing adjustments. T he transaction also includes potential contingent consideration of up to $7 million, payable in quarterly installments between the third quarter of 2026 and the second quarter of 2027. The divestiture represents a massive value creation milestone for the company, crystallizing a pre-tax return on invested capital (ROIC) of over 200%. Highwood originally acquired the Wilson Creek assets in August 2023 for a net consideration of approximately $35 million. S ince the acquisition, the properties have generated approximately $26 million in asset-level free cash flow through March 31, 2026. Management plans to utilize the upfront cash proceeds to pay down outstanding liabilities. Following the close of the transaction, Highwood anticipates its net debt will be reduced to approximately $15.0 million. Th e deal carries an effective date of April 1, 2026, and is projected to close on or about June 30, 2026. The overhauled, low-leverage balance sheet is expected to unlock substantial financial flexibility. Highwood intends to redirect capital to accelerate development in its core Brazeau asset area, advance its early-stage portfolio opportunities, and pursue strategic acquisitions. Furthermore, to enhance total returns to shareholders, the company plans to implement its inaugural Normal Course Issuer Bid (NCIB) share buyback program in the second half of 2026, pending standard board and exchange approvals. More on Highwood Asset Management, Obsidian Energy Ltd. Obsidian Energy: Under-The-Radar Oil Play Offering Large Upside Historical earnings data for Highwood Asset Management Financ...
Nippon Paint Holdings Co. and Sherwin-Williams Co. ended their effort to buy Akzo Nobel NV , leaving the Dutch paintmaker to proceed with its planned merger with US firm Axalta Coating Systems Ltd. The decision follows AkzoNobel’s rejection of two joint all-cash offers put forward by the firms, the companies said in a statement Wednesday. The most recent offer of €73 per share valued the maker of ...
Nippon Paint Holdings Co. and Sherwin-Williams Co. ended their effort to buy Akzo Nobel NV , leaving the Dutch paintmaker to proceed with its planned merger with US firm Axalta Coating Systems Ltd. The decision follows AkzoNobel’s rejection of two joint all-cash offers put forward by the firms, the companies said in a statement Wednesday. The most recent offer of €73 per share valued the maker of Dulux paints at €12.5 billion ($14.5 billion), and involved plans to break up the business. Akzo Nobel shares plunged as much as 22% in Amsterdam, erasing gains made after the company last week revealed the rejected offers. Akzo Nobel cited the difficulty of getting regulator approval for the Nippon proposal, and the board said the firm’s agreement to merge with Axalta, announced in November, was superior. The Axalta deal will create a paintmaker with an estimated enterprise value of about $25 billion. Under the terms of the offer, Akzo Nobel would own 55% of the combined entity and move its the share listing to New York, after trading for some three decades in Amsterdam.