Minister at Singapore defence summit also reveals Australia to buy only second-hand Aukus submarines from US Get our breaking news email , free app or daily news podcast The defence minister, Richard Marles, has said the “seabed is a battlefield” in a combative speech urging Beijing to be more transparent about its maritime operations, and taking aim at weak international controls over so-called “...
Minister at Singapore defence summit also reveals Australia to buy only second-hand Aukus submarines from US Get our breaking news email , free app or daily news podcast The defence minister, Richard Marles, has said the “seabed is a battlefield” in a combative speech urging Beijing to be more transparent about its maritime operations, and taking aim at weak international controls over so-called “shadow-fleet” vessels. The warning came as the US, UK and Australia announced a new Aukus project to develop new underwater drone technology to protect undersea cables. Continue reading...
New Glenn's fourth flight was meant to carry Amazon's Project Kuiper satellites into orbit. Instead, it exploded on the launchpad at Cape Canaveral on the evening of May 28 during a hotfire test. By the time markets opened the following morning, the damage had spread well beyond Blue Origin's ...
New Glenn's fourth flight was meant to carry Amazon's Project Kuiper satellites into orbit. Instead, it exploded on the launchpad at Cape Canaveral on the evening of May 28 during a hotfire test. By the time markets opened the following morning, the damage had spread well beyond Blue Origin's ...
When a company is already the most valuable in the world, it takes a lot to surprise anyone. But Nvidia (NASDAQ: NVDA) CEO Jensen Huang managed to do it last week, and he did it with a single word. Closing out the chipmaker's fiscal first-quarter earnings call, Huang put any concerns about the demand environment to rest. "Demand has gone parabolic," he said. The reason, in his telling, was simple:...
When a company is already the most valuable in the world, it takes a lot to surprise anyone. But Nvidia (NASDAQ: NVDA) CEO Jensen Huang managed to do it last week, and he did it with a single word. Closing out the chipmaker's fiscal first-quarter earnings call, Huang put any concerns about the demand environment to rest. "Demand has gone parabolic," he said. The reason, in his telling, was simple: agentic AI -- systems that can reason, plan, and carry out tasks on their own rather than just answer a prompt -- had finally arrived and started doing real work. Continue reading
Green Retreat: California Eases Carbon-Market Costs For Oil Refiners California's green-energy regime has hollowed out the state's refining and oil industry, leaving motorists paying the highest gasoline prices in the country. AAA data show the state gasoline average now north of $6 per gallon, compared with a national average of roughly $4.36 as of Saturday morning. The result of political blowba...
Green Retreat: California Eases Carbon-Market Costs For Oil Refiners California's green-energy regime has hollowed out the state's refining and oil industry, leaving motorists paying the highest gasoline prices in the country. AAA data show the state gasoline average now north of $6 per gallon, compared with a national average of roughly $4.36 as of Saturday morning. The result of political blowback in California over unaffordable gasoline and diesel prices at the pump is a retreat from left-wing climate policies that could offer relief to motorists, Bloomberg News reports. On Friday, the California Air Resources Board voted to create up to $4 billion in free carbon allowances for oil refiners and other industrial polluters. This will help them more easily comply with the state's greenhouse gas limits under the Cap-and-Invest program. Earlier this year, CARB proposed further tightening emission limits by removing 118 million allowances from the market to keep the state on track to meet its 2030 climate targets. For refiners, that would mean further reducing emissions or paying more for allowances, with mounting costs already pushing them out of the state . The move will help contain gasoline prices at the pump and prevent refiners from leaving the state, especially after energy disruptions in the Gulf region pushed California gasoline prices above $6. Take US oil giant Chevron, which recently warned that California is careening toward an energy crisis because of the Iran war, and that the company may quit refining oil in the state unless officials roll back taxes and regulations. California is highly exposed to the disruption rippling through commodity markets, as it imports about 20% of its refined fuels from Asia. But as extensively discussed here, oil product shipments from China, South Korea, Singapore, and elsewhere have been disrupted, leaving Asian nations struggling to meet domestic demand, let alone export to California. Chevron’s oil refining head Andy Wal...
It’s a deep dive into the Hidden Gems Investing mailbag with questions about international diversification, stocks that have lost momentum, and the changing cybersecurity landscape.
It’s a deep dive into the Hidden Gems Investing mailbag with questions about international diversification, stocks that have lost momentum, and the changing cybersecurity landscape.
Why Lam Research Still Looks Like a Buy After a 300% RallyLam Research (NASDAQ:LRCX) President and CEO Tim Archer said AI demand is reshaping the semiconductor equipment market across logic, memory, storage and packaging, creating what Bernstein analyst Stacy Rasgon described as
Why Lam Research Still Looks Like a Buy After a 300% RallyLam Research (NASDAQ:LRCX) President and CEO Tim Archer said AI demand is reshaping the semiconductor equipment market across logic, memory, storage and packaging, creating what Bernstein analyst Stacy Rasgon described as
Pfizer Inc. and China’s Innovent Biologics have announced a global licensing and collaboration agreement. The deal, valued at up to $10.5 billion, is set to develop 12 early-stage cancer drugs. The agreement comprises an upfront payment of $650 million to...
Pfizer Inc. and China’s Innovent Biologics have announced a global licensing and collaboration agreement. The deal, valued at up to $10.5 billion, is set to develop 12 early-stage cancer drugs. The agreement comprises an upfront payment of $650 million to...
When China broke out one of its “big guns” in last year’s trade war with the US – an array of export controls on rare earth elements – it helped spur a temporary truce in the pitched conflict between the two economic superpowers. After Beijing’s announcement, many around the world expressed shock at the size and scope of China’s response to Washington’s sky-high tariffs. But for Japan, a squeeze o...
When China broke out one of its “big guns” in last year’s trade war with the US – an array of export controls on rare earth elements – it helped spur a temporary truce in the pitched conflict between the two economic superpowers. After Beijing’s announcement, many around the world expressed shock at the size and scope of China’s response to Washington’s sky-high tariffs. But for Japan, a squeeze on rare earth shipments was not so novel a concept. In 2010, following the collision of a Chinese...
It's understandable that you'd want to claim Social Security as early as possible so you can get the most checks. But there's a pretty big drawback to doing this. Claiming early permanently reduces your Social Security benefit by up to 30%. The longer you wait to apply, the larger your checks will be, until you qualify for your maximum retirement benefit at age 70. But you don't have to wait that ...
It's understandable that you'd want to claim Social Security as early as possible so you can get the most checks. But there's a pretty big drawback to doing this. Claiming early permanently reduces your Social Security benefit by up to 30%. The longer you wait to apply, the larger your checks will be, until you qualify for your maximum retirement benefit at age 70. But you don't have to wait that long to see a noticeable change. Even holding off for one month can make a lasting difference. Image source: Getty Images. Continue reading
International Monetary Fund Managing Director Kristalina Georgieva and Venezuelan economic official Calixto Ortega held talks in Washington, the IMF head’s first in-person meeting with country’s authorities since the fund resumed formal engagement with Venezuela last month. “We discussed how the IMF can support efforts to strengthen macroeconomic stability, including through capacity development,”...
International Monetary Fund Managing Director Kristalina Georgieva and Venezuelan economic official Calixto Ortega held talks in Washington, the IMF head’s first in-person meeting with country’s authorities since the fund resumed formal engagement with Venezuela last month. “We discussed how the IMF can support efforts to strengthen macroeconomic stability, including through capacity development,” Georgieva said in an X post on Saturday. Ortega is vice president of Venezuela’s Economy Ministry. Venezuela has said it plans to move fast on a comprehensive debt restructuring, aimed at reworking its $170 billion pile of debt from multiple types creditors. Read More: A 220% Bond Rally Snaps as Venezuela Euphoria Gets Reality Check Venezuela has started to share some economic data with the IMF as it resumed relations with the Washington-based lender under acting President Delcy Rodriguez. The IMF hasn’t done a standard annual review of Venezuela’s economy — known as an Article IV consultation — since 2004. In a call last month, Rodriguez told Georgieva that the country has raised the need to access to about $5 billion of its reserve assets in the IMF, known as special drawing rights. Venezuela’s access is suspended until the international community recognizes a government in Caracas.
Some struggle to love Mikel Arteta’s side but they went toe-to-toe with PSG in a gruelling, high-grade contest It always seemed likely, somehow, that Arsenal’s season was going to come down to Gabriel Magalhães and a set piece. Just not, ideally, like this. Football does love a note of dramatic irony. And while Arsenal may have lost this Champions League final on penalties to Paris Saint-Germain a...
Some struggle to love Mikel Arteta’s side but they went toe-to-toe with PSG in a gruelling, high-grade contest It always seemed likely, somehow, that Arsenal’s season was going to come down to Gabriel Magalhães and a set piece. Just not, ideally, like this. Football does love a note of dramatic irony. And while Arsenal may have lost this Champions League final on penalties to Paris Saint-Germain after three brain-mangling hours of unresolved jab, smother and counter-thrust in the humid green bowl of the Puskas Arena, this was also a brilliant, high-grade, dizzyingly tense game of football. Continue reading...