onurdongel South Korean internet giant NAVER ( NHNCF ) will use Nvidia ( NVDA ) technology to build AI factories starting with AI infrastructure expansion at GAK Sejong. NAVER ( NHNCF ) will expand its sovereign AI infrastructure using Nvidia's ( NVDA ) DSX platform, beginning with a 55-megawatt deployment and planning to scale to gigawatt capacity. The platform will be used to rapidly design, bui...
onurdongel South Korean internet giant NAVER ( NHNCF ) will use Nvidia ( NVDA ) technology to build AI factories starting with AI infrastructure expansion at GAK Sejong. NAVER ( NHNCF ) will expand its sovereign AI infrastructure using Nvidia's ( NVDA ) DSX platform, beginning with a 55-megawatt deployment and planning to scale to gigawatt capacity. The platform will be used to rapidly design, build, and scale full-stack, end-to-end AI platforms that can serve enterprises, industries, and government. “NAVER is building AI factory infrastructure that will serve its companies, developers and industries. With NVIDIA DSX, we can help Korea scale sovereign intelligence infrastructure for the agentic era — from AI agents to AI factories and physical AI.” said Jensen Huang, founder and CEO of Nvidia ( NVDA ). More on Naver Historical earnings data for Naver Dividend scorecard for Naver Financial information for Naver
China’s imports of liquefied natural gas are surging as the nation steps up purchases to cope with rising electricity consumption over the hotter summer months. The country’s 30-day moving average for deliveries has jumped to 178,000 tons a day, the highest since early February, before the start of the war in the Middle East. Volumes, which have been rising since mid-April, are approaching the fiv...
China’s imports of liquefied natural gas are surging as the nation steps up purchases to cope with rising electricity consumption over the hotter summer months. The country’s 30-day moving average for deliveries has jumped to 178,000 tons a day, the highest since early February, before the start of the war in the Middle East. Volumes, which have been rising since mid-April, are approaching the five-year seasonal average. State-owned buyers including Cnooc Ltd. have increased activity, with Chinese importers taking about seven to 10 cargoes per month in order to replace lost Qatari supply, according to traders. Major buyers have stepped up purchases since late April, while private energy firms such as Guangdong Jovo Energy Group Co Ltd. are seeking cargoes, they said. The war has choked shipments from the Persian Gulf. The drop in LNG deliveries from Qatar was offset by an increase from exporters including Canada, Malaysia, and Russia last month, according to ship-tracking data. An increase in appetite by China, the biggest buyer in the world, could intensify competition for cargoes between Asia and Europe ahead of winter restocking requirements. Currently, Europe’s 30-day moving average for deliveries is down 19% from a year earlier and has been dropping since mid-March, according to ship-tracking data. Read More: A Searing Asian Summer Will Add to Risk of Surging Gas Prices Cnooc Ltd. purchased several cargoes for June , July and August delivery last month, while second-tier firm Zhejiang Energy International Ltd. bought a cargo for July . The uptick is a turnaround from last year, where the nation saw sluggish demand as it relied more on cheaper pipeline gas and robust inventories, as well as other substitutes including coal and renewables.
Iranian crude has been slashed for Chinese buyers in an effort to entice interest from independent oil refiners, which have reduced operating rates to stem losses from weaker margins. Prices for Iranian Light for July arrival were offered at a discount of more than $1 a barrel to ICE Brent benchmarks, compared with a premium last month, said traders who participate in the market. Russian crude tha...
Iranian crude has been slashed for Chinese buyers in an effort to entice interest from independent oil refiners, which have reduced operating rates to stem losses from weaker margins. Prices for Iranian Light for July arrival were offered at a discount of more than $1 a barrel to ICE Brent benchmarks, compared with a premium last month, said traders who participate in the market. Russian crude that is shipped from the country’s far east has also been lowered, they added. China’s independent refiners, known as teapots, are the biggest buyers of Iran’s crude but they have faced mounting economic pressure as razor-thin margins pushed deeper into the red. Beijing had instructed the processors to make fuels at all costs to help cushion the impact from the conflict in the Middle East, though that mandate is set to be relaxed after their losses increased. Flows of Iranian oil to China fell to 1.1 million barrels a day in May, the lowest since January 2025, according to data from Kpler Ltd. There’s currently close to 56 million barrels of the nation’s crude idling on vessels globally, with over 60% of the ships anchored in the Singapore Strait and off China, the data shows. Chinese independent refiners typically account for about 90% of Iran’s oil sales, but the US has ramped up sanctions on the trade in an effort to force Tehran into a peace deal. Giant independent refiner Hengli Petrochemical (Dalian) Refinery Co. was the most recent entity targeted by Washington. Read More: China Crude Buying Seen Languishing for Months as Demand Tumbles Separately, prices for Russia’s flagship ESPO crude have been reduced to a premium of $3 to ICE Brent due to lackluster buying interest from Chinese teapots, down from a $6 premium last month, the traders said. They asked not to be named because the information is not public.
PhysicsX, a British startup that develops artificial intelligence models for manufacturing components like jet engines and semiconductors, has raised $300 million at a valuation of roughly $2.4 billion, competing in a crowded field that includes Amazon.com Inc founder Jeff Bezos. Singapore’s Temasek led the Series C financing into PhysicsX, the London-based company said on Monday. Intrepid Growth ...
PhysicsX, a British startup that develops artificial intelligence models for manufacturing components like jet engines and semiconductors, has raised $300 million at a valuation of roughly $2.4 billion, competing in a crowded field that includes Amazon.com Inc founder Jeff Bezos. Singapore’s Temasek led the Series C financing into PhysicsX, the London-based company said on Monday. Intrepid Growth Partners and M&G Catalyst joined as new investors alongside earlier backers, including chip firms Nvidia Corp. and Applied Materials Inc. The company was valued at almost $1 billion at its last funding round. A growing number of companies are trying to apply the latest advances in AI to heavy-duty industry, pitching it as a way to cut manufacturing time and costs. That rank includes Project Prometheus, a new AI lab from Bezos, which closed a $10 billion funding round in April. Several others are developing AI “world models” designed to make better robots that could, for example, work in assembly plants. PhysicsX focuses on software that lets aerospace and automotive firms design, test and assemble parts. The company provides an AI model that predicts how physical objects behave, which it says makes the process much faster than conventional simulation software for engineering. Increasingly, PhysicsX is selling to semiconductor firms; Chief Executive Officer Jacomo Corbo said the sector will be its largest segment by the end of the second quarter. The startup, which last raised funds 12 months ago , needs more cash to expand its staff in part because of a roughly six-month backlog of customer demand, according to Corbo. “That’s a little untenable for us,” he said. Customers include Applied Materials, Siemens AG and Stellantis NV . Corbo said revenue will be “close to $50 million” for the year and the company aims to more than double the figure in 2027.
More than £3bn is due to be spent on the proposed road tunnel between Kent and Essex, which is estimated to have higher costs per mile than HS2 Ministers have earmarked more than £170m extra to help build the Lower Thames Crossing road tunnel , fuelling concerns over the “spiralling” costs of one of the UK’s largest planned infrastructure projects. The proposed £11bn route under the Thames between...
More than £3bn is due to be spent on the proposed road tunnel between Kent and Essex, which is estimated to have higher costs per mile than HS2 Ministers have earmarked more than £170m extra to help build the Lower Thames Crossing road tunnel , fuelling concerns over the “spiralling” costs of one of the UK’s largest planned infrastructure projects. The proposed £11bn route under the Thames between Kent and Essex is already estimated to cost more each mile than the HS2 high-speed rail link from London to Birmingham. It was given the funding boost as part of a plan to spend £3.1bn of public money on the project, before a hoped-for injection of £7.5bn by a private sector firm. Continue reading...
You could let them make a mess in your kitchen, take them to the safari park to draw animals – and if all else fails there’s always bribes! We speak to leading artists about making childcare creative Who better to have the final word on introducing young children to art than artist parents? Gone are the days of the genius artist at work alone in their garret. Today’s creatives are making art with ...
You could let them make a mess in your kitchen, take them to the safari park to draw animals – and if all else fails there’s always bribes! We speak to leading artists about making childcare creative Who better to have the final word on introducing young children to art than artist parents? Gone are the days of the genius artist at work alone in their garret. Today’s creatives are making art with knee-height people at their feet. So, what’s worked for them when it comes to sharing their love of art? What hasn’t? And what’s their advice for the rest of us? Continue reading...
Tom Kerridge says ‘whole of hospitality’ should get behind Burnham who has called for VAT cut from 20% to 10% Chefs and restaurateurs have said they hope Andy Burnham becomes prime minister after he backed calls to cut VAT tax for hospitality businesses. Burnham, who is standing as the Labour candidate in the Makerfield byelection and is expected to launch a challenge to Keir Starmer’s leadership ...
Tom Kerridge says ‘whole of hospitality’ should get behind Burnham who has called for VAT cut from 20% to 10% Chefs and restaurateurs have said they hope Andy Burnham becomes prime minister after he backed calls to cut VAT tax for hospitality businesses. Burnham, who is standing as the Labour candidate in the Makerfield byelection and is expected to launch a challenge to Keir Starmer’s leadership if he wins, has called for the rate to be cut from 20% to 10% to be in line with European rates. Continue reading...
Investigation reveals more than 4.4 million people live in ‘news deserts’ that lack dedicated local reporting Local social media groups are fuelling misinformation in areas with no reliable sources of news, according to an investigation that reveals the scale of fake news flowing to vulnerable communities across Britain. Misinformation was nearly three times more common in areas with little or no ...
Investigation reveals more than 4.4 million people live in ‘news deserts’ that lack dedicated local reporting Local social media groups are fuelling misinformation in areas with no reliable sources of news, according to an investigation that reveals the scale of fake news flowing to vulnerable communities across Britain. Misinformation was nearly three times more common in areas with little or no recognised local journalism, according to a study of tens of thousands of posts seen by the Guardian. Immigration and Islamophobia were the most common topics of misinformation across Facebook and X. Continue reading...
Too many leaders have appeased the rightwing culture warriors. In the wake of the Henry Nowak rioting, the time for a push against toxicity and untruths is now It is easy to regard, and thus disregard, the riots following the conviction of Henry Nowak’s murderer as an explosion of reaction by a flammable and motivated minority. The more uncomfortable truth is that a specific notion, that people of...
Too many leaders have appeased the rightwing culture warriors. In the wake of the Henry Nowak rioting, the time for a push against toxicity and untruths is now It is easy to regard, and thus disregard, the riots following the conviction of Henry Nowak’s murderer as an explosion of reaction by a flammable and motivated minority. The more uncomfortable truth is that a specific notion, that people of colour have been privileged over and above mere equality, and been given dominion over white people, is now mainstream. Whether it is in the rejection of diversity, equity and inclusion initiatives , or in claims of “ two-tier policing ”, the current moment can seem as though it is about all sorts of disparate things: immigration, concerns over housing, cultural dilution, basic fairness. But it’s really broadly about one thing – equality has gone too far. The black man has the whip hand over the white man. As you can tell by the previous line, this is not a new notion, now recycled by Nigel Farage when he says that there is “a two-tier culture in this country, where the rights and privileges of white people matter less than those of ethnic minorities”. It is, at its most simple, backlash. The sort of pushback that has followed every single wave of civil rights progress and efforts at enfranchisement. Continue reading...
Dip tips: a good mix of North African spice, seasoning, colour and texture is guaranteed to get the palate excited for the meal ahead Dips are never just accompaniments at our restaurant, the Barbary in central London, but a way of building flavour from the outset. They set the tone for the meal, so it’s important not only to have a variety of spice and seasoning, but also contrast in colour and t...
Dip tips: a good mix of North African spice, seasoning, colour and texture is guaranteed to get the palate excited for the meal ahead Dips are never just accompaniments at our restaurant, the Barbary in central London, but a way of building flavour from the outset. They set the tone for the meal, so it’s important not only to have a variety of spice and seasoning, but also contrast in colour and texture, not least to get the palate excited straight away. These early-summer dips, inspired by the former Barbary Coast (Morocco, Algeria, Libya and Tunisia), are all best served with grilled flatbread, seeded crackers and fresh vegetables. The kaha kaha and machluta dips are both somewhere between a dip and a salad, and go especially well with grilled chicken, while the fava is good with grilled fish. Continue reading...
Report blames Middle East conflict and rising business costs for fragile jobs market and steep fall in recruitment UK companies are increasingly hiring temporary workers instead of permanent staff because of low confidence in the economy and higher cost pressures, according to a report. Recruiters reported a strong increase in offers of temporary roles in May, according to new research from KPMG a...
Report blames Middle East conflict and rising business costs for fragile jobs market and steep fall in recruitment UK companies are increasingly hiring temporary workers instead of permanent staff because of low confidence in the economy and higher cost pressures, according to a report. Recruiters reported a strong increase in offers of temporary roles in May, according to new research from KPMG and the Recruitment and Employment Confederation (REC). Continue reading...
Insurer found 18,400 suspect claims last year with some scammers using AI to fake accident scenes and documents Bogus insurance claims worth more than £230m were detected by the insurance firm Aviva last year as scammers tried new tricks including using artificial intelligence to fake car accident scenes, documents and to exaggerate damage. The insurer identified more than 18,400 suspect claims ac...
Insurer found 18,400 suspect claims last year with some scammers using AI to fake accident scenes and documents Bogus insurance claims worth more than £230m were detected by the insurance firm Aviva last year as scammers tried new tricks including using artificial intelligence to fake car accident scenes, documents and to exaggerate damage. The insurer identified more than 18,400 suspect claims across its brands in 2025, with a combined value of £233m. The fraud claims level was a record for the insurer, although this was the first year that it included the Direct Line brands it acquired last summer . Continue reading...
International Monetary Fund Managing Director Kristalina Georgieva has spent the past six years navigating some of the biggest challenges facing the global economy — from the Covid-19 pandemic and Russia's full-scale invasion of Ukraine to the rapid emergence of artificial intelligence. In this episode of Leaders With Francine Lacqua, Georgieva discusses what it takes to lead an institution repres...
International Monetary Fund Managing Director Kristalina Georgieva has spent the past six years navigating some of the biggest challenges facing the global economy — from the Covid-19 pandemic and Russia's full-scale invasion of Ukraine to the rapid emergence of artificial intelligence. In this episode of Leaders With Francine Lacqua, Georgieva discusses what it takes to lead an institution representing 191 countries, how the IMF approaches economic crises and why trust is essential when governments are asked to make difficult reforms. (Source: Bloomberg)
International Monetary Fund Managing Director Kristalina Georgieva said that after facing crisis upon crisis in recent years, the world needs to build foundations that can withstand shocks that have become more frequent. “I am worried that we are not completely internalizing yet that this is how the world is going to be,” Georgieva said on Bloomberg’s podcast Leaders with Francine Lacqua . “We are...
International Monetary Fund Managing Director Kristalina Georgieva said that after facing crisis upon crisis in recent years, the world needs to build foundations that can withstand shocks that have become more frequent. “I am worried that we are not completely internalizing yet that this is how the world is going to be,” Georgieva said on Bloomberg’s podcast Leaders with Francine Lacqua . “We are not going to get to a place where shocks are gone.” Georgieva, who’s been at the helm of the Washington-based lender since 2019, has been through the Covid pandemic, the war in Ukraine, the tariffs turmoil and now the conflict in the Middle East. The IMF has a lending capacity of just under $1 trillion dollar and her job — as she described it — is keeping the fund’s 191 members focused on working together for the greater good of the world economy. “The best ammunition we have is objective analysis,” she said. One major transformation underway is the spread of artificial intelligence and its impact on labor markets and local economies. Georgieva said organizations including hers failed to recognize inequalities arising from globalization and she wants to make sure it won’t happen with AI. “We collectively, including the fund, did not appreciate the backlash against globalization that came from the fact that, yes, the world economy is doing better as a whole, but many communities were hollowed out because their jobs disappeared and there was not enough attention to them,” she said. “I’ll tell you what I’m very keen not to see repeated is the same with artificial intelligence.” The fund will update its outlook for the global economy in July, after downgrading its growth projection for the year in April amid the war in the Middle East. The lender also performs annual economic revisions of member countries, among other reports under its surveillance mandate. Russia Assessment In 2024, two years after Russia invaded Ukraine, the IMF announced it would restart its annual review o...
Carlsberg A/S is preparing to file draft papers for an initial public offering of its India unit as early as this month, according to people familiar with the matter. The potential listing could raise as much as $700 million, the people said, asking not to be identified because the information is private. Carlsberg is working with Kotak Mahindra Capital Co. and the local units of JPMorgan Chase & ...
Carlsberg A/S is preparing to file draft papers for an initial public offering of its India unit as early as this month, according to people familiar with the matter. The potential listing could raise as much as $700 million, the people said, asking not to be identified because the information is private. Carlsberg is working with Kotak Mahindra Capital Co. and the local units of JPMorgan Chase & Co. and Citigroup Inc. on the proposed share sale, the people said. The IPO is expected to consist of a secondary share sale by the Danish brewer and could take place later this year, according to the people. Deliberations are ongoing and details including the size, structure and timing of the transaction could still change. Representatives for Carlsberg declined to comment beyond reiterating that the company is exploring options to increase shareholder value, including an IPO, but no final decision has been made. The banks didn’t respond to requests for comment. Global alcohol makers are increasingly looking to unlock value from their Indian operations, betting on rising consumption in one of the world’s fastest-growing major economies. Pernod Ricard SA , the maker of Absolut vodka and Chivas Regal Scotch whisky, has also been exploring a potential listing of its India business and has hired advisers for the process. Carlsberg India is the country’s second-largest brewer, with market share of about 22%, according to a company presentation . Established in India in 2007, the company operates 14 breweries across the country, including eight company-owned facilities and six contract manufacturing units, according to information on its website. The company’s closest listed peer, United Breweries Ltd. , has a market value of about $3.6 billion. Its shares have declined roughly 36% over the past year, compared with a 8% drop in India’s benchmark Nifty 50 Index. Read More: Carlsberg Said to Begin $700 Million IPO Process for India Unit For the latest news on equity capital market...
Getty Images The Thesis Entering into FY26, the American air freight and logistics company, United Parcel Service ( UPS ), continued to experience softness across its key U.S. Domestic Package segment due to significant volume contraction, primarily in North America. The pressure across the consolidated topline is likely to continue through much of FY26 as the broader demand environment across the...
Getty Images The Thesis Entering into FY26, the American air freight and logistics company, United Parcel Service ( UPS ), continued to experience softness across its key U.S. Domestic Package segment due to significant volume contraction, primarily in North America. The pressure across the consolidated topline is likely to continue through much of FY26 as the broader demand environment across the U.S. remains soft, and the company continues to strategically reduce low-yielding Amazon e-commerce volume to improve its overall mix. Although pricing continues to show strength with a slightly improved volume mix from SMB and healthcare customers, weak volumes across key trade lanes are likely to continue weighing on overall margins in the short term, keeping earnings growth under pressure over the coming quarters. The UPS stock has rebounded from its late 2025 lows and is currently up in the low double-digit percentages since my last hold rating . However, earnings expectations remain notably below the levels seen before trade disruptions amid muted bottom-line growth. Although the stock continues to trade at a cheap multiple, the company's unfavorable growth outlook still suggests keeping a neutral stance, supporting a continued hold rating at the present valuation. UPS's Q1 2026 Highlights A little over a month ago, in April, UPS reported its first-quarter results for 2026. Although the company's performance surpassed market expectations, overall momentum remains weak, as it reported another quarter with a decline in revenue. In Q1, the company's consolidated topline contracted approximately 1.5% year on year to $21.2 billion . This decrease was primarily due to an 8% ADV decline in the company's core U.S. domestic segment, driven by continued demand softness and strategic Amazon volume glide down in the region, which more than offset the impact of higher revenue per piece during the quarter. While Supply Chain Solutions (SCS), the company's smallest segment, was also...
Benjamin Fanjoy/Getty Images News Nvidia ( NVDA ) is partnering with South Korea's LG Group ( LGEIY ) on humanoid robots and next-generation data centers, underscoring Nvidia's ( NVDA ) push into "physical AI" applications beyond traditional AI chips. The announcement is part of a broader set of partnerships Nvidia ( NVDA ) unveiled during Huang's visit to South Korea, where the company has also e...
Benjamin Fanjoy/Getty Images News Nvidia ( NVDA ) is partnering with South Korea's LG Group ( LGEIY ) on humanoid robots and next-generation data centers, underscoring Nvidia's ( NVDA ) push into "physical AI" applications beyond traditional AI chips. The announcement is part of a broader set of partnerships Nvidia ( NVDA ) unveiled during Huang's visit to South Korea, where the company has also expanded AI-related collaborations with firms including SK Telecom ( HXSCL ) , Naver ( NHNCF ) and Doosan Group. "We are working with them in motor technology as well as mechanical systems so that we can bring together humanoid robotics and the future of robotics," CEO Jensen Huang said after a meeting with LG Group Chairman Koo Kwang-mo in Seoul. "We're also working with LG in architecting the future data centers," he added. "The collaboration brings together NVIDIA’s full-stack, end-to-end AI factory platform with LG Group’s global leadership in consumer electronics, robotics, mobility components, smart spaces and data center technologies." Nvidia said . More on Nvidia Nvidia: Downgrade To Hold As Earnings Fail To Push Price Higher Nvidia: I Do Not Fear The AI Bubble Yet NVIDIA Corporation (NVDA) Presents at Bank of America 2026 Global Technology Conference Transcript Nvidia deepens SK Hynix partnership as AI infrastructure demand accelerates Over $1T wiped out as chip selloff impacts Nvidia, Broadcom, Micron