Hong Kong authorities will not favour existing ride-hailing platform drivers in the allocation of such vehicle permits, citing concerns about encouraging illegal activities and difficulties in execution, the transport minister has said. Secretary for Transport and Logistics Mable Chan on Monday also refrained from revealing whether a time frame was being planned to review the controversial 10,000 ...
Hong Kong authorities will not favour existing ride-hailing platform drivers in the allocation of such vehicle permits, citing concerns about encouraging illegal activities and difficulties in execution, the transport minister has said. Secretary for Transport and Logistics Mable Chan on Monday also refrained from revealing whether a time frame was being planned to review the controversial 10,000 permit cap despite repeated queries from lawmakers during the Legislative Council’s subcommittee...
If you held Direxion Daily MU Bull 2X Shares (NYSEARCA:MUU) into Friday’s close, you watched the fund shed 26.65% in a single session, which is what 2x daily leverage does when its underlying has its worst day in years. The underlying, Micron Technology (NASDAQ:MU), closed at $864 on June 5, 2026, down roughly 13% from ... The 2x Micron ETF (MUU) Shed 26.65% in One Day When Broadcom Missed and Rat...
If you held Direxion Daily MU Bull 2X Shares (NYSEARCA:MUU) into Friday’s close, you watched the fund shed 26.65% in a single session, which is what 2x daily leverage does when its underlying has its worst day in years. The underlying, Micron Technology (NASDAQ:MU), closed at $864 on June 5, 2026, down roughly 13% from ... The 2x Micron ETF (MUU) Shed 26.65% in One Day When Broadcom Missed and Rates Spiked
Welcome to Bloomberg’s AI Today newsletter. Every weekday we’ll break down artificial intelligence’s threats and opportunities for businesses, workers, finance and economies. Sign up now if you’re not already on the list. Up first Job prospects are finally looking up, except in the hottest sector of the economy: tech. Lost in the excitement of Friday’s blowout US jobs report was a sign that the AI...
Welcome to Bloomberg’s AI Today newsletter. Every weekday we’ll break down artificial intelligence’s threats and opportunities for businesses, workers, finance and economies. Sign up now if you’re not already on the list. Up first Job prospects are finally looking up, except in the hottest sector of the economy: tech. Lost in the excitement of Friday’s blowout US jobs report was a sign that the AI threat to employment continues to loom : Headcount in the information sector — which includes software publishers, social networks and web search portals — shrank in May for the 16th time in the last 17 months. That jives with recent layoff announcements from Big Tech giants like Meta and Microsoft, who are looking for ways to reduce labor costs in order to offset heavy spending on AI. Another report last week from the outplacement firm Challenger, Gray & Christmas, tallying such cuts, found that tech-sector layoff announcements climbed in May to the highest level in almost two years . The information sector has now shed 332,000 jobs — or almost 11% of its workforce — since its post-pandemic peak in November 2022, the same month ChatGPT debuted. It’s an unusual combination: the dominant sector in profit expansion is one of the worst places in the economy to try to find work. Working for the information sector, for the moment, is easier than working in it. Friday’s numbers also showed nonresidential construction jobs rose for a seventh straight month in May. And a separate report last week revealed construction spending on data centers eclipsed $50 billion in April for the first time, which is more than all US government spending on construction of public transportation infrastructure. But the booming market for construction workers has only been enough to offset about a quarter of the job losses in information employment since the introduction of ChatGPT. Another major employer where economists say a similar AI impact may be spreading is the financial activities sector. It...
Can AI Save More Energy Than It Consumes? Authored by Haley Zaremba via Oilprice.com , Biglaw firm Duane Morris argues the energy sector's greatest AI-related risk is not surging power demand but failing to adopt AI tools fast enough to remain competitive. MIT research challenges industry claims that AI efficiency gains will offset its enormous energy consumption, while new data centers continue t...
Can AI Save More Energy Than It Consumes? Authored by Haley Zaremba via Oilprice.com , Biglaw firm Duane Morris argues the energy sector's greatest AI-related risk is not surging power demand but failing to adopt AI tools fast enough to remain competitive. MIT research challenges industry claims that AI efficiency gains will offset its enormous energy consumption, while new data centers continue to be approved at record pace. AI shows genuine promise in clean energy applications - from nuclear fusion modeling to EV battery recovery - but the AI investment boom is simultaneously diverting capital away from next-gen energy research. The artificial intelligence boom has created unprecedented pressure and anxiety in the energy industry . The public and private sector alike are expending enormous amounts of effort trying to quantify the amount of electricity that will be needed to power data centers in the near future, and get ahead of the skyrocketing energy demands headed for our already outdated and beleaguered electric grids. But the answer to the energy monster that AI is unleashing could very well lie in the application of AI tools. A new article published by Biglaw firm Duane Morris argues that the most prescient AI-related risk for the energy industry is not the one posed by the demands of the sector itself, but the risk of falling behind in AI integration and application. The firm argues that the energy sector has an obligation to consider the ways in which large language models can be an asset, concluding that "AI should not be viewed only through the lens of risk avoidance." " The risks of AI remain real and must be governed thoughtfully ," the Energy Intelligence article goes on to say. "But in a sector responsible for critical infrastructure, the greater long-term risk may not be using AI too aggressively - it may be failing to use it enough." Indeed, proponents of AI adoption argue that although training and operating large language models eats up an enormo...
Joby Aviation (NYSE: JOBY) stock saw strong gains in May's trading , rising 29.5% across the stretch . Meanwhile, the S&P 500 rose 5.2%, and the Nasdaq Composite surged 8.4% higher. The broader market hosted strong bullish momentum for growth stocks last month, and a solid quarterly report helped support big gains for Joby. Despite a big pop last month, the company's share price is down roughly 28...
Joby Aviation (NYSE: JOBY) stock saw strong gains in May's trading , rising 29.5% across the stretch . Meanwhile, the S&P 500 rose 5.2%, and the Nasdaq Composite surged 8.4% higher. The broader market hosted strong bullish momentum for growth stocks last month, and a solid quarterly report helped support big gains for Joby. Despite a big pop last month, the company's share price is down roughly 28% year to date. Continue reading
US stocks have staged a modest rebound even as flaring tensions in the Middle East sent oil prices and bond yields higher. Futures for the S&P 500 rose 0.2% after a selloff in artificial intelligence stocks came to a halt. Bond traders are wagering that inflation figures this week will show the biggest surge in consumer prices in several years, adding to pressure on the Federal Reserve to raise in...
US stocks have staged a modest rebound even as flaring tensions in the Middle East sent oil prices and bond yields higher. Futures for the S&P 500 rose 0.2% after a selloff in artificial intelligence stocks came to a halt. Bond traders are wagering that inflation figures this week will show the biggest surge in consumer prices in several years, adding to pressure on the Federal Reserve to raise interest rates. Global bond markets have seen a profound shift since late February, when the US and Israel's attacks on Iran sparked a surge in oil prices, derailing bets that the central bank was poised to lower rates in 2026. Lindsay Rosner, Head of Multi-Sector Investing at Goldman Sachs Asset Management explains. (Source: Bloomberg)
A Hong Kong court has jailed four men for up to three years and one month for rioting during the 2019 anti-government protests, in the latest round of sentences following authorities’ pledge to pursue those involved regardless of the time elapsed. The District Court on Monday sentenced the four defendants for their roles in clashes at and around Polytechnic University in Hung Hom, the site of some...
A Hong Kong court has jailed four men for up to three years and one month for rioting during the 2019 anti-government protests, in the latest round of sentences following authorities’ pledge to pursue those involved regardless of the time elapsed. The District Court on Monday sentenced the four defendants for their roles in clashes at and around Polytechnic University in Hung Hom, the site of some of the most intense confrontations between protesters and police during the unrest. Judge Edmond...
OR Images/DigitalVision via Getty Images If you follow my work, you'll know that I've previously covered gaming (digital gaming and some casinos as well) companies. You'll also know that I am personally a gamer , meaning I've played board games, digital games, and things like pen & paper RPGs for going on 30 years of my life. To put it simply, it's a huge part of my life. It was perhaps more so wh...
OR Images/DigitalVision via Getty Images If you follow my work, you'll know that I've previously covered gaming (digital gaming and some casinos as well) companies. You'll also know that I am personally a gamer , meaning I've played board games, digital games, and things like pen & paper RPGs for going on 30 years of my life. To put it simply, it's a huge part of my life. It was perhaps more so when I was younger - now that adult life has taken over, I obviously cannot do it the same way I once did, but I still go out of my way to make sure that I can play a bit of games, and I do have a group that gets together to play things like board games, and Warhammer/40k as well as computer games. The positive effects of this hobby are too numerous to go into here - and that is obviously not the point at this time. What I am instead focusing on here is the investing side of it. I have made very clear points when I previously covered these sorts of companies, that just because you like something personally is not a good reason to actually invest in it monetarily. Gaming, unfortunately, is not always a great or even good investment. But it can be. So when I heard that Embracer AB was spinning off Asmodee, the board game division of the company, I was mildly interested. I made sure to put the company on my radar to see where it might go from here. That's the focus of today's article, by the way - Asmodee AB ( ASMOF ). I want to start off by saying that this is not an easy investment - and I'm not just talking about the BB- rating of the company, meaning junk rated, though this is certainly a part of it. No, what I mean is the business model is, in a way, a counter on the digital gaming world. There are things to like about that and things to dislike about it. As I said, I will focus on the investment side of the business here. Not the "liking it side", even though I do like it. I will, however, cover a few personal reflections that I have been witnessing as of late - by "late" ...
Shares of Zealand Pharma ( ZLDPF ), the weight-loss drug developer, tumbled as much as 26% on Monday after fresh data from its experimental treatment sparked concerns about possible side effects. The Danish drugmaker said that while its drug survodutide met its key targets in a late-stage study, 19% of patients dropped out of the study due to gastrointestinal events, compared to 2.9% on placebo. Z...
Shares of Zealand Pharma ( ZLDPF ), the weight-loss drug developer, tumbled as much as 26% on Monday after fresh data from its experimental treatment sparked concerns about possible side effects. The Danish drugmaker said that while its drug survodutide met its key targets in a late-stage study, 19% of patients dropped out of the study due to gastrointestinal events, compared to 2.9% on placebo. Zealand Pharma is eligible for high single- to low double-digit percentage royalties on global sales of survodutide and EUR 315 million in potential outstanding milestone payments. Shares of Zealand Pharma were last seen down 24%, adding to nearly a 50% drop year-to-date. More on Zealand Pharma A/S Zealand Pharma A/S 2026 Q1 - Results - Earnings Call Presentation Zealand Pharma A/S (ZLDPY) Q1 2026 Earnings Call Transcript Historical earnings data for Zealand Pharma A/S Financial information for Zealand Pharma A/S
How did you find it? Did it help in your efforts to find work? Keir Starmer has announced a new AI work assistant tool dubbed a “job centre in your pocket” to help job seekers get into work. In a speech at the start of London Tech Week , the prime minister said the new AI job tool will “help those out of work find the right jobs, create their CVs and get back into work”. Continue reading...
How did you find it? Did it help in your efforts to find work? Keir Starmer has announced a new AI work assistant tool dubbed a “job centre in your pocket” to help job seekers get into work. In a speech at the start of London Tech Week , the prime minister said the new AI job tool will “help those out of work find the right jobs, create their CVs and get back into work”. Continue reading...