Experts warn that some marine species are at risk of ‘mass mortality events’ in ever-warming oceans UK waters are being hit with an “extreme” marine heatwave, the Met Office has said, as scientists warn the high ocean temperatures globally could result in “mass-mortality events” for some species. The forecasters said these elevated temperatures have developed rapidly because of last month’s heat d...
Experts warn that some marine species are at risk of ‘mass mortality events’ in ever-warming oceans UK waters are being hit with an “extreme” marine heatwave, the Met Office has said, as scientists warn the high ocean temperatures globally could result in “mass-mortality events” for some species. The forecasters said these elevated temperatures have developed rapidly because of last month’s heat dome, during which most of Europe sweltered in its worst ever heatwave that scientists said would have been impossible without the climate crisis. Continue reading...
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 Market prognosticators have for months raised questions over the sustainability of the artificial intelligence trade that has exploded across markets. And yet, for Space...
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 Market prognosticators have for months raised questions over the sustainability of the artificial intelligence trade that has exploded across markets. And yet, for SpaceX, Wall Street has seemingly thrown caution to the wind, with dozens of analysts ascribing ever-larger valuation targets to the space company turned AI behemoth. The Elon Musk-led firm has rapidly transformed itself in recent months, selling investors on a growth vision that revolves more around AI products and a vast array of data centers in space than its legacy rocket and satellite internet service businesses. This comes despite continued skepticism from many that the hundreds of billions of dollars being spent on AI infrastructure build-outs won’t make the return on investment such valuations are based on. Raymond James finds itself as the most bullish among a growing list of analysts with lofty ratings for SpaceX. The bank is projecting that AI, which generated about $3 billion in revenue for SpaceX in 2024, will become its largest segment by 2027 and by 2035 will represent nearly 94% of its revenue, or $4.9 trillion. Based on those projections, analyst Brian Gesuale assigned a price target of $800 to the stock, more than 435% above where it closed on Tuesday. At that level it would be worth north of $10.5 trillion, more than double that of Nvidia, currently the world’s most valuable stock at about $4.8 trillion. Such eye-popping expectations will only add to what has become a steady drumbeat of skeptics calling out exaggerated valuations for both SpaceX and the broader AI sphere. The following was produced with the assistance of Bloomberg Automation. Banking & Finance Chip stocks tumbled, with a semiconductor gauge falling 4.5% and the Nasdaq 100 dropping 1.5%, amid c...
US Bitcoin Reserve Stalls As Treasury And Commerce Vie For Control: Report Authored by Micah Zimmerman via BitcoinMagazine.com, Sixteen months after President Donald Trump ordered his administration to build a federal bitcoin reserve, the White House says it is still working out how the fund should be structured, and a dispute between two departments has slowed the effort, according to recent repo...
US Bitcoin Reserve Stalls As Treasury And Commerce Vie For Control: Report Authored by Micah Zimmerman via BitcoinMagazine.com, Sixteen months after President Donald Trump ordered his administration to build a federal bitcoin reserve, the White House says it is still working out how the fund should be structured, and a dispute between two departments has slowed the effort, according to recent reporting from Bloomberg. Trump signed an executive order in March 2025 to create what he called a Strategic Bitcoin Reserve, along with a separate U.S. Digital Asset Stockpile for other cryptocurrencies. The order directed the Treasury and Commerce departments to develop budget-neutral methods for acquiring bitcoin, ones that would not draw on taxpayer money. The reserve was to be funded in large part with bitcoin the government already holds through criminal and civil forfeitures. Strategic Bitcoin Reserve obstacles According to Bloomberg, the plan has run into two obstacles. Treasury and Commerce are each making a case to run the reserve, and questions have arisen over whether Treasury has the legal authority to manage the holdings. People familiar with the matter, who were not authorized to speak in public, said housing the reserve inside the Commerce Department is one option under review. The Justice Department said its Office of Legal Counsel “is working closely with both the Treasury and Commerce departments to determine legally available options to accomplish the president’s policy.” A further concern is whether the government can hold bitcoin for an indefinite period, as the order intended, given the currency’s price swings. “President Trump campaigned on a vision of cementing America as the global capital of cryptocurrency and other cutting-edge technologies,” White House spokesperson Liz Huston said in a statement. “To deliver on the president’s vision, the Trump administration continues to evaluate the best structure for a Strategic Bitcoin Reserve and U.S. Digital ...
MicroStockHub/iStock via Getty Images By Mike Larson The good news? Analysts are hiking earnings estimates left and right. The bad news? That’s setting the bar very high as we get ready to kick off the second-quarter reporting season! Check out the MoneyShow Chart of the Day. It shows how - and by how much - analysts adjusted their earnings estimates for S&P 500 Index ( SPX ) companies during each...
MicroStockHub/iStock via Getty Images By Mike Larson The good news? Analysts are hiking earnings estimates left and right. The bad news? That’s setting the bar very high as we get ready to kick off the second-quarter reporting season! Check out the MoneyShow Chart of the Day. It shows how - and by how much - analysts adjusted their earnings estimates for S&P 500 Index ( SPX ) companies during each quarter going back a half decade. You can see that analysts boosted their profit targets by 3.4% for this year's second quarter, the most since Q2 2021! Sector ETF (YTD % Change) (Source: FactSet) This isn’t “normal.” FactSet research shows that analysts usually cut estimates during each quarter - by an average of 2.7% over the past decade. If there’s one thing Wall Street likes, it’s the “underpromise but overdeliver” dynamic heading into earnings season. But we don’t have that today. All in all, six of the 11 S&P sectors enjoyed target hikes during the three-month period. Energy led the way because of the Middle East war’s impact on oil and gas prices. Information technology and materials came in second and third place. On the flip side, health care suffered the biggest estimate cuts. We’re just a few days away from a flood of Q2 reports. With expectations high, bulls better hope the early reporters deliver - or they could be in for a long earnings season! Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors. Originally published on MoneyShow.com
Shanghai Iluvatar CoreX Semiconductor Co. is seeking to raise about $850 million from a share sale in Hong Kong after soaring since its initial public offering in January. Iluvatar is offering shares at HK$476 to HK$498.40 each, reflecting a discount of up to 15% to the closing price on Wednesday, according to terms of the deal , which confirmed an earlier Bloomberg News report . A six-month lock-...
Shanghai Iluvatar CoreX Semiconductor Co. is seeking to raise about $850 million from a share sale in Hong Kong after soaring since its initial public offering in January. Iluvatar is offering shares at HK$476 to HK$498.40 each, reflecting a discount of up to 15% to the closing price on Wednesday, according to terms of the deal , which confirmed an earlier Bloomberg News report . A six-month lock-up from its IPO expired Tuesday . The maker of graphics processing units plans to use of net proceeds for areas including supply-chain and procurement planning for critical materials and components as well as research and development. Part of the proceeds will be directed toward software, model adaptation and developer ecosystem, expansion of AI computing solutions, certain investments and acquisitions. A smaller portion will be used for working capital and general corporate purposes. Goldman Sachs Group Inc. , Huatai Securities Co. and Morgan Stanley are overall coordinators of the placement. The fundraising is far bigger than the IPO , which raised about $473 million. Iluvatar rallied 428% through the first half of 2026, swept up in enthusiasm for AI-related stocks even as Hong Kong’s Hang Seng Index slid. Read More: China Loses Out on AI Boom as Stocks Trail by Most Since ‘01 Iluvatar is following in the footsteps of Shanghai Biren Technology Co. , which raised about $900 million from a share placement Monday. Biren gained about 1.8% Wednesday in Hong Kong to close at HK$47.36, compared with the issue price of HK$46.20 a share. Beijing-based Zhipu is also exploring a possible share sale in Hong Kong to raise several billion dollars, people familiar with the matter have said . The AI model maker has soared even more than Iluvatar since its listing in the city in January — climbing almost 1,500%. Iluvatar raised 1.2 billion yuan ($176 million) in a funding round in 2021 led by Centurium and Cedarlake Capital. Another round a year later raised 1 billion yuan and included Be...
Tesco Plc is exploring a sale of its central and eastern European operations, the FT reported, citing people familiar with the matter. The British grocer is working with bankers on its options for its business in Hungary, the Czech Republic and Slovakia, the people told the FT. Tesco runs more than 500 stores in the region. The chain, which operates primarily in the UK and Ireland, has already sol...
Tesco Plc is exploring a sale of its central and eastern European operations, the FT reported, citing people familiar with the matter. The British grocer is working with bankers on its options for its business in Hungary, the Czech Republic and Slovakia, the people told the FT. Tesco runs more than 500 stores in the region. The chain, which operates primarily in the UK and Ireland, has already sold off most of its international operations — including its Polish supermarket business, which it exited in 2020. Tesco couldn’t immediately be reached for comment. “We never comment on rumor or speculation,” it told the FT. In its annual report, Tesco said profit in its Eastern operations had fallen as a result of greater competition in Slovakia and ongoing regulatory pressure. The grocer, led by Chief Executive Officer Ken Murphy , is the UK’s largest, achieving its highest market share in more than a decade through its popular Clubcard loyalty program and price-matching to discount rivals.
Bangladesh is studying a plan to issue its first-ever sovereign bond overseas, as the nation looks for ways to finance its record spending. The government has decided to form an inter-ministerial panel to “analyze the feasibility, structure, and timing of the debut issuance,” Farid Ahmed, deputy secretary for public debt management at the finance ministry, said in a phone interview Wednesday. A su...
Bangladesh is studying a plan to issue its first-ever sovereign bond overseas, as the nation looks for ways to finance its record spending. The government has decided to form an inter-ministerial panel to “analyze the feasibility, structure, and timing of the debut issuance,” Farid Ahmed, deputy secretary for public debt management at the finance ministry, said in a phone interview Wednesday. A successful debut could diversify the government’s funding sources beyond domestic banks and concessional multilateral loans, establish a global pricing benchmark for future overseas borrowing by Bangladeshi companies, and signal confidence in the country’s economic reforms. Officials have not yet firmed up details such as the issuance size or the currency for the proposed borrowing, Ahmed said. The primary focus remains on conventional dollar bonds but officials also discussed the possibility of a panda bond in a meeting on June 20, he said. The proposal comes at a time when Bangladesh is planning to raise its spending by 19% from a year earlier to revive growth after a period of political turmoil and economic disruption. The country is pushing for a fresh lending arrangement with the International Monetary Fund, and plans to fund its spending through higher tax revenue and foreign borrowing. A sovereign bond would invite greater scrutiny of Bangladesh’s finances from international investors and credit-rating firms. The central bank had first floated the idea in 2012 and the government revisited it later but it never materialized.
CAMBRIDGE, Mass., July 08, 2026 (GLOBE NEWSWIRE) -- Helping enterprises bridge the gap between AI innovation and security, Akamai (NASDAQ: AKAM) today announced its selection as a strategic partner for World Wide Technology (WWT)’s AI Readiness Model for Operational Resilience (ARMOR). This collaboration positions Akamai as a foundational security architecture for the “AI factories” being built by...
CAMBRIDGE, Mass., July 08, 2026 (GLOBE NEWSWIRE) -- Helping enterprises bridge the gap between AI innovation and security, Akamai (NASDAQ: AKAM) today announced its selection as a strategic partner for World Wide Technology (WWT)’s AI Readiness Model for Operational Resilience (ARMOR). This collaboration positions Akamai as a foundational security architecture for the “AI factories” being built by WWT and accelerated by NVIDIA. As enterprises rush to adopt AI, they often face a “security tax,” w
EonX Technologies ( EONXF ) announced immediate changes to its board of directors and executive leadership team. Justin Hanka has resigned from the board, and current CFO John Dinan has been appointed as a new non-executive director to fill the vacancy. Succeeding Dinan, EonX has appointed Carlos Dubra as the company's new Group CFO. Dubra brings extensive expertise in payment systems, strategic f...
EonX Technologies ( EONXF ) announced immediate changes to its board of directors and executive leadership team. Justin Hanka has resigned from the board, and current CFO John Dinan has been appointed as a new non-executive director to fill the vacancy. Succeeding Dinan, EonX has appointed Carlos Dubra as the company's new Group CFO. Dubra brings extensive expertise in payment systems, strategic finance, and corporate scaling. He previously held high-level executive positions at prominent global financial institutions, including Deutsche Bank, Royal Bank of Scotland, and American Express, where he served as CFO for International Operations. More on EonX Technologies Inc. Financial information for EonX Technologies Inc.
Velishchuk/iStock via Getty Images Bitcoin ( BTC-USD ) and other cryptocurrencies fell on Wednesday after the U.S. and Iran exchanged fresh airstrikes, boosting the dollar, while President Donald Trump declared the fragile ceasefire between the two countries "over." U.S. President Donald Trump said his tentative ceasefire with Iran is over after Washington launched a fresh wave of strikes against ...
Velishchuk/iStock via Getty Images Bitcoin ( BTC-USD ) and other cryptocurrencies fell on Wednesday after the U.S. and Iran exchanged fresh airstrikes, boosting the dollar, while President Donald Trump declared the fragile ceasefire between the two countries "over." U.S. President Donald Trump said his tentative ceasefire with Iran is over after Washington launched a fresh wave of strikes against the country and tightened sanctions, escalating tensions between the two nations. “For me, I think it’s over,” he said on Wednesday in Ankara, sitting next to NATO Secretary General Mark Rutte at the military alliance’s annual summit. “As far as I’m concerned it’s just a waste of time.” Trump's remarks came after the U.S. launched a new wave of strikes against Iran and revoked a waiver that allowed the sale of Iranian oil. The moves followed attacks on three commercial vessels transiting the Strait of Hormuz, which Washington blamed on Iran. Tehran has repeatedly said it will not allow ships to pass through the strategic waterway without its permission. The halt in attacks on commercial shipping and the U.S. waiver on Iranian oil sales were key elements of a memorandum of understanding that ended hostilities between Washington and Tehran and established a 60-day window for negotiations on a broader peace agreement. Bitcoin, the leading cryptocurrency by market capitalization, slipped to $61,881 at press time, down 2%. Other major cryptocurrencies also fell: Ethereum ( ETH-USD ) -1.9%, Ripple ( XRP-USD ) -2.9%, Binance Coin ( BNB-USD ) -2.7%, Avalanche ( AVAX-USD ) -4.7%, Dogecoin ( DOGE-USD ) -3.8%, and Solana ( SOL-USD ) -4.3%. Bitcoin had been showing signs of recovery in July after tumbling nearly 18% in June, its steepest monthly decline in four years. The world's largest cryptocurrency is still up about 5.5% for the month. The token also remained relatively resilient after Strategy ( MSTR ), the Michael Saylor-founded company and the largest corporate holder of Bitcoin...
Tim Robberts Stock index futures were lower before the opening bell on Wednesday as U.S. President Donald Trump said the fragile truce between the U.S. and Iran is over after renewed strikes. Now, here are five news stories that broke overnight to watch out for: Oil climbs on fresh U.S.-Iran strikes: Crude oil futures ( CL1:COM ) ( CO1:COM ) rose more than 6% after the U.S. and Iran exchanged fres...
Tim Robberts Stock index futures were lower before the opening bell on Wednesday as U.S. President Donald Trump said the fragile truce between the U.S. and Iran is over after renewed strikes. Now, here are five news stories that broke overnight to watch out for: Oil climbs on fresh U.S.-Iran strikes: Crude oil futures ( CL1:COM ) ( CO1:COM ) rose more than 6% after the U.S. and Iran exchanged fresh military strikes. U.S. strikes on Iran, attacks on commercial vessels, and President Trump’s comment that the “Iran ceasefire is over, I think” have raised the risk of a broader breakdown in negotiations. Iran targeted U.S. military sites in Bahrain and Kuwait after Washington struck Iranian military assets in response to attacks on three commercial vessels transiting the Strait of Hormuz. U.S. Central Command said the operation targeted air defense systems, command networks, coastal radar, anti-ship missile sites, and more than 60 Revolutionary Guard boats. SpaceX expands Grok access: SpaceXAI ( SPCX ) will expand public access to its Grok 4.5 AI model on Thursday following strong customer feedback from its beta program, CEO Elon Musk said on X. Musk described Grok 4.5 as a faster, lower-cost Opus-class model. The AI system entered private beta at SpaceX ( SPCX ) and Tesla ( TSLA ) in June. Streaming giants eye World Cup rights: Netflix ( NFLX ), Disney ( DIS ), and Alphabet's YouTube ( GOOG ) ( GOOGL ) are exploring bids for U.S. broadcast rights to the 2030 and 2034 FIFA World Cups, CNBC reported . Amazon ( AMZN ) and Apple ( AAPL ) could also join the bidding, with talks between FIFA and potential media partners expected to begin within the next three months. Prediction markets temper Nasdaq optimism: Kalshi contracts suggest investors see limited upside for the Nasdaq-100 ( NDX ) ( QQQ ) through year-end despite the AI rally, CNBC reported. Traders assign roughly even odds that the index finishes 2026 above 30,000 and about a 30% chance it exceeds 33,000, up from 22%...