The aluminum market is facing a deepening shortage as the closure of the Strait of Hormuz throttles supply, with spot prices for the metal spiking while exchange inventories slump. Aluminum buyers globally have been rocked by the conflict in the Gulf, which accounts for nearly 10% of global supply. While there is renewed optimism about a resolution to the tensions , the prolonged shutdown of the s...
The aluminum market is facing a deepening shortage as the closure of the Strait of Hormuz throttles supply, with spot prices for the metal spiking while exchange inventories slump. Aluminum buyers globally have been rocked by the conflict in the Gulf, which accounts for nearly 10% of global supply. While there is renewed optimism about a resolution to the tensions , the prolonged shutdown of the strait and the direct attacks on smelters in the region have prompted warnings that the industry is facing its biggest shortages in decades. There were fresh signs of supply stress on Friday, as spot aluminum prices surged to a $97-a-ton premium to three-month futures on the London Metal Exchange, reaching the highest level since 2007. Read More: Key Japanese Aluminum Fee Set for Record as War Squeezes Supply Premiums for spot contracts — known as backwardation — are a classic sign that supply is running short of demand, and the recent surge in the spread comes as readily available inventories on the LME approach historically low levels. Combined stockpiles tracked by the LME, CME Group, and the Shanghai Futures Exchange would cover global supply for less than five days, according to Bloomberg calculations. That’s the lowest level of cover of the six main metals traded on the LME, and represents a major shift for an industry that’s historically been plagued by oversupply. Three-month aluminum prices have rallied more than 15% since the start of the conflict, and were trading steady near $3,660 a ton as of 11:56 a.m. local time on the LME on Friday. Prices hit a four-year high above $3,700 a ton earlier in the week, and banks including JPMorgan and Citigroup have predicted a move to $4,000 a ton. Copper and nickel were also little changed, while zinc, lead and tin edged higher.
SpaceX's planned initial public offering (IPO) on June 12 is one of the most anticipated public debuts in years. Many savvy investors are trying to figure out where the company could be headed during the next few years, using information from the company's recent S-1 filing with the Securities and Exchange Commission. Tesla (TSLA +0.42%) chief executive officer and SpaceX founder Elon Musk has tou...
SpaceX's planned initial public offering (IPO) on June 12 is one of the most anticipated public debuts in years. Many savvy investors are trying to figure out where the company could be headed during the next few years, using information from the company's recent S-1 filing with the Securities and Exchange Commission. Tesla (TSLA +0.42%) chief executive officer and SpaceX founder Elon Musk has touted his company's focus on sending humans to Mars and its intentions to "transform the rocket launch industry into airline-like operations." Yet SpaceX spends at least three times more on artificial intelligence (AI) than it does on its rockets segment. Not only that, its losses from AI are much bigger than the losses from its rocket business. With the SpaceX IPO rapidly approaching, should potential investors be concerned about the company's enormous AI capital expenditures (capex) and losses? Let's take a look. SpaceX has moonshots that don't involve the moon or Mars If you've followed Elon Musk for any amount of time, it's probably not that surprising to find out that his rocket company is making big bets in AI. Musk's xAI company merged with SpaceX in February. Musk often combines companies he owns and their adjacent technologies with his other companies. He once started an energy company, SolarCity, that was eventually acquired by Tesla. And last year, xAI acquired Musk's X social media company (formerly Twitter). There's already plenty of speculation that SpaceX and Tesla could merge as soon as next year, as Tesla begins to focus its attention on autonomous systems and humanoid robotics. Here's a quick look at SpaceX's capex spending for its three main segments, as well as its profits and operating losses for each: SpaceX Segment 2025 Capex 2025 Operating income (loss) Space $3.8 billion ($657 million) AI $12.7 billion ($6.3 billion) Connectivity (Starlink) $4.1 billion $4.4 billion As I mentioned earlier, SpaceX invested more than three times as much in AI as it did ...
Key Points SpaceX spent $12.7 billion on AI last year, and capital expenditures are rising even faster this year. The company believes these early investments could give it an advantage in space-based artificial intelligence data centers. SpaceX may be making the right bet on AI, but it's unclear if its spending spree will pay off. These 10 stocks could mint the next wave of millionaires › SpaceX'...
Key Points SpaceX spent $12.7 billion on AI last year, and capital expenditures are rising even faster this year. The company believes these early investments could give it an advantage in space-based artificial intelligence data centers. SpaceX may be making the right bet on AI, but it's unclear if its spending spree will pay off. These 10 stocks could mint the next wave of millionaires › SpaceX's planned initial public offering (IPO) on June 12 is one of the most anticipated public debuts in years. Many savvy investors are trying to figure out where the company could be headed during the next few years, using information from the company's recent S-1 filing with the Securities and Exchange Commission. Tesla (NASDAQ: TSLA) chief executive officer and SpaceX founder Elon Musk has touted his company's focus on sending humans to Mars and its intentions to "transform the rocket launch industry into airline-like operations." Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Yet SpaceX spends at least three times more on artificial intelligence (AI) than it does on its rockets segment. Not only that, its losses from AI are much bigger than the losses from its rocket business. With the SpaceX IPO rapidly approaching, should potential investors be concerned about the company's enormous AI capital expenditures (capex) and losses? Let's take a look. SpaceX has moonshots that don't involve the moon or Mars If you've followed Elon Musk for any amount of time, it's probably not that surprising to find out that his rocket company is making big bets in AI. Musk's xAI company merged with SpaceX in February. Musk often combines companies he owns and their adjacent technologies with his other companies. He once started an energy company, SolarCity, that was eventually acquired by Tesla. And last year, xAI acquired M...
Kindamorphic Mission Produce ( AVO ) closed on the acquisition of Calavo Growers, which is now a wholly owned subsidiary of the company. Under the terms of the agreement, Calavo ( CVGW ) shareholders received $26.05 per share, comprised of $14.85 in cash and 0.9790 shares of Mission common stock for each share of Calavo ( CVGW ) held. The company said the acquisition unites two of North America’s ...
Kindamorphic Mission Produce ( AVO ) closed on the acquisition of Calavo Growers, which is now a wholly owned subsidiary of the company. Under the terms of the agreement, Calavo ( CVGW ) shareholders received $26.05 per share, comprised of $14.85 in cash and 0.9790 shares of Mission common stock for each share of Calavo ( CVGW ) held. The company said the acquisition unites two of North America’s most established avocado companies, building on Mission's ( AVO ) position as a leader in the worldwide fresh produce business. The addition of Calavo ( CVGW ) is expected to further strengthen Mission's ( AVO ) vertically integrated global network, enhancing sourcing and packing capabilities, improving asset utilization across the network, broadening its reach across complementary fresh produce categories, and accelerating its entry into the high-margin, high-growth prepared foods segment. "Mission’s vertically integrated platform, combined with Calavo’s sourcing capabilities, value-added offerings, and deep customer relationships, gives us the scale and the operational foundation to deliver greater value across the supply chain, including opportunities to capture additional integration benefits over time," highlighted Mission Produce CEO John Pawlowski. Earlier in the week, the deal was approved by regulators in Mexico. More on Mission Produce Mission Produce Stock Is Cheap, But Risks Remain Mission Produce, Inc. (AVO) Q1 2026 Earnings Call Transcript Mission Produce outlines $25M synergy target and prepares for Calavo acquisition while expanding avocado volume 14% Mission Produce Non-GAAP EPS of $0.10 beats by $0.03, revenue of $278.6M beats by $17.87M Seeking Alpha’s Quant Rating on Mission Produce
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg’s journalists around the world. Today, Brody Ford reports on the way company executives talk about artificial intelligence. Tech Across the Globe Apple’s new Siri: The digital assistant is getting an overhaul that will be unveiled at the iPhone maker’s June developer conference. Get a sneak peek . Computex nea...
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg’s journalists around the world. Today, Brody Ford reports on the way company executives talk about artificial intelligence. Tech Across the Globe Apple’s new Siri: The digital assistant is getting an overhaul that will be unveiled at the iPhone maker’s June developer conference. Get a sneak peek . Computex nears: Jensen Huang, Intel’s Lip-Bu Tan and a parade of other computing industry CEOs descend upon Taiwan for Asia’s biggest tech and hardware exhibition of the year. See what’s in store for Computex 2026 . Ban on Chinese tech: Germany and Spain are leading opposition to European Commission plans to ban Chinese technology suppliers from telecom networks as part of new cybersecurity rules. Here’s why they are pushing back . Revalued Anthropic raised $65 billion in a round of funding that pushed its valuation to $900 billion, without the new money included, surpassing rival OpenAI. The fundraising came together in a matter of weeks amid intense investor interest, which pushed the total well above the startup’s $30 billion goal. Anthropic, maker of the Claude AI model, was valued at $350 billion in February. All in a name As ChatGPT was sweeping the world in early 2023, many in the tech industry took pains to explain how this kind of artificial intelligence was different. It was generative . You don’t hear that word much anymore. Nowadays, the popular way to describe a wide swath of technology based around large language models is simply “AI.” Increasingly, companies are branding their offerings as “agentic.” In part, this reflects that AI’s abilities are evolving beyond simple content generation. But it also underlines the intense fear-of-missing-out that many executives feel during the AI boom. Use of the word “generative” peaked in corporate America in the third quarter of 2023, according to an analysis of earnings calls of companies within the S&P 500 Index. Around that time,...
Key Points More than half of 401(k) participants indicate that inflation is the primary reason it’s difficult to save for a comfortable retirement. It’s important to understand inflation and develop a plan to overcome it. The first step is understanding how inflation erodes your buying power, and how to work around it. The $23,760 Social Security bonus most retirees completely overlook › Between A...
Key Points More than half of 401(k) participants indicate that inflation is the primary reason it’s difficult to save for a comfortable retirement. It’s important to understand inflation and develop a plan to overcome it. The first step is understanding how inflation erodes your buying power, and how to work around it. The $23,760 Social Security bonus most retirees completely overlook › Between April 2025 and April 2026, consumer inflation rose by 3.81%. That can be a scary statistic, especially if you're nearing retirement or already retired. Everything, from paying for groceries to protecting your retirement savings, becomes a challenge as higher prices eat away at your income. While there's not a lot the average American can do to prevent inflation, there are moves that can safeguard the money you have. Here are five of those moves. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Diversify with inflation-protected securities Treasury Inflation-Protected Securities (TIPS) are government bonds designed to guard against inflation. The principal adjusts with the Consumer Price Index, meaning your investment keeps pace with rising prices. If the principal is equal to or lower than the original amount when the TIPS matures after five, 10, or 30 years, you get the original amount back in full. However, if the principal exceeds the original amount after that time, you get the larger amount. TIPS accomplish two things: They provide inflation protection, and they offer the peace of mind that comes with knowing your money is backed by the U.S. government. Review Medicare coverage It's impossible to deny the high cost of healthcare in retirement. Annually reviewing your Medicare coverage during open enrollment can ensure you have the most cost-effective plan to meet your needs. Plans change year by year, ...
(RTTNews) - Genesco Inc. (GCO) announced Loss for first quarter of -$14.18 million The company's bottom line came in at -$14.18 million, or -$1.42 per share. This compares with -$21.23 million, or -$2.02 per share, last year. Excluding items, Genesco Inc. reported adjusted earnings of -$22.70 million or -$2.18 per share for the period. The company's revenue for the period rose 2.8% to $487.03 mill...
(RTTNews) - Genesco Inc. (GCO) announced Loss for first quarter of -$14.18 million The company's bottom line came in at -$14.18 million, or -$1.42 per share. This compares with -$21.23 million, or -$2.02 per share, last year. Excluding items, Genesco Inc. reported adjusted earnings of -$22.70 million or -$2.18 per share for the period. The company's revenue for the period rose 2.8% to $487.03 million from $473.97 million last year. Genesco Inc. earnings at a glance (GAAP) : -Earnings: -$14.18 Mln. vs. -$21.23 Mln. last year. -EPS: -$1.42 vs. -$2.02 last year. -Revenue: $487.03 Mln vs. $473.97 Mln last year. -Guidance: Full year EPS guidance: $ 2.00 To $ 2.40 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
A new South Carolina act will exempt some heirs’ property owners from increased property taxes In a move that protects vulnerable people from forced property sales, South Carolina recently enacted an act that could help families keep land that has been passed down for generations. The Heirs’ Property Tax Relief Act , signed into law by Henry McMaster, the state’s governor, on 15 May, prevents coun...
A new South Carolina act will exempt some heirs’ property owners from increased property taxes In a move that protects vulnerable people from forced property sales, South Carolina recently enacted an act that could help families keep land that has been passed down for generations. The Heirs’ Property Tax Relief Act , signed into law by Henry McMaster, the state’s governor, on 15 May, prevents counties from reassessing property values when heirs clear their property titles, or resolve disputes about the ownership. The act allows families with heirs’ properties – land inherited by multiple owners who are not listed on the title – to transfer the title between family members without their real estate taxes increasing. Gullah Geechee people, the descendants of formerly enslaved west Africans who retained their culture and customs, are especially vulnerable to heirs’ property issues . They can lead to their homes being sold at annual auctions for delinquent tax payments, predatory development and interfamily fighting. Continue reading...
From Hudson valley, New York, and London Recommended if you like the Books, Leila, Worldpeace DMT Up next Rumspringa released 29 May Jonah Paz and Yaelle Avtan recorded their first ever track as Ear on an iPhone in the Bard College library. That song, Nerves, pits their murmuring voices against weightless strings and barely perceptible drums. Just as it seems poised to float away altogether, the t...
From Hudson valley, New York, and London Recommended if you like the Books, Leila, Worldpeace DMT Up next Rumspringa released 29 May Jonah Paz and Yaelle Avtan recorded their first ever track as Ear on an iPhone in the Bard College library. That song, Nerves, pits their murmuring voices against weightless strings and barely perceptible drums. Just as it seems poised to float away altogether, the track is suddenly overtaken by a blaring bass synth that cleaves the first act’s aching plea into an emotionally fraught, black-lit banger. The Hudson valley/London duo are sometimes lumped in under the loose banner of “laptop twee” alongside a host of younger artists who also balance whimsy with warped electronics. Like Bassvictim, Worldpeace DMT and the Femcels, Ear pad out the emotional immediacy of lo-fi rock with found audio chaos and wide-ranging genre collage. Nostalgia is a major ingredient but the band’s appeal is by no means reducible to it. After drawing from the DNA of 00s pop with their first album, last year’s The Most Dear and the Future, Paz and Avtan push deconstruction harder on their second album, Rumspringa. The duo have been long inspired by IDM, and like the better songwriters of that genre, their greatest strength lies in how they manipulate the audio field. On lead single Ne Plus Ultra, their half-whispered, trade-off vocals are secondary to epic, primary-coloured synths, which provide a faint thread of melody as voice notes, dance beats and chintzy sounds stud the song with cryptic jokes and funny pockets of uplift. The effect is like freefalling through off-kilter consciousness and acclimatising to its weird logic: the thrill of watching a band taking shape in real time. Harry Tafoya This week’s best new tracks View image in fullscreen The Durutti Column’s Vini Reilly (right) and drummer Bruce Mitchell. Photograph: Christopher Thomond/The Guardian The Durutti Column – Liars Much cited, albeit rarely spotted these days: Vini Reilly returns for his fi...
Jan van Loon remembers the moment well. As Arsenal’s head of coaching he was guiding Freddie Ljungberg’s first steps in management with the under-15s when Bukayo Saka joined the squad. Saka was regarded as one of the academy’s standout talents but Ljungberg soon concluded the youngster was in danger of not fulfilling his potential. Towards the end of 2016, Ljungberg delivered words to Saka that, a...
Jan van Loon remembers the moment well. As Arsenal’s head of coaching he was guiding Freddie Ljungberg’s first steps in management with the under-15s when Bukayo Saka joined the squad. Saka was regarded as one of the academy’s standout talents but Ljungberg soon concluded the youngster was in danger of not fulfilling his potential. Towards the end of 2016, Ljungberg delivered words to Saka that, according to Van Loon, have shaped the winger’s career. It was a one-on-one evaluation, typically held twice a year in the academy, but also in the room were Van Loon, a strength and conditioning coach and Saka’s father, Yomi. “Bukayo was sitting there feeling pretty confident because he was scoring goals and things were seemingly going well,” Van Loon says. “But Freddie said: ‘I’m actually not that satisfied, because you’ve got so much more in you. You need to take a good look at yourself. From now on, I want to see the real Bukayo. No more hiding in training or going through the motions. No, you’re the first one out there on the pitch and the last to leave it. You’re going to carry the team and take on a leadership role.’” View image in fullscreen Bukayo Saka full of confidence while playing for Arsenal’s under-15 side back in 2016. Photograph: Stuart MacFarlane/Arsenal FC/Getty Images Saka, Van Loon recalls, was taken aback. “He didn’t expect criticism, that he needed to do much more. But he quickly realised that Freddie was doing it out of respect. Freddie said: ‘I’m going to help you with this, I’ll support you, I believe in you.’ And very quickly it turned into something positive.” The conversation remains etched in Van Loon’s memory. “You have to picture it like this: Bukayo was sitting at the table and his dad was in a chair a few metres behind him. We looked them both in the eyes and his dad had a big smile, like: ‘Finally, someone who’s going to help my son get the most out of himself.’ Because he could see there was so much more in Bukayo.” Ljungberg twice won the...
After the politically incisive late-night host said his final goodnight last week, Byron Allen’s Comics Unleashed offered a grim look at where TV is heading The applause, dear God, the applause. It has you bracing against the headboard and groping for the remote when Comics Unleashed detonates onto the screen just before midnight. A soulless barrage of whoops, cheers and apparatchik-grade terror c...
After the politically incisive late-night host said his final goodnight last week, Byron Allen’s Comics Unleashed offered a grim look at where TV is heading The applause, dear God, the applause. It has you bracing against the headboard and groping for the remote when Comics Unleashed detonates onto the screen just before midnight. A soulless barrage of whoops, cheers and apparatchik-grade terror clapping, it hits like a jet engine at takeoff, swallowing the show’s disembodied announcer in a silo of his own manufactured zaniness. The applause snuffs out introductions to the guests, all stand-up comics – a who’s who of who’s that – and upstages a modest studio audience that appears to have been rounded up from pamphlet-clutching LA tourists. It even leaves the host himself, 65-year-old Byron Allen, limply shuffling to reclaim the frame as the show’s cameras whip around him from every conceivable angle. In the reverse shots, you can already see the night’s guests parked in the makeshift waiting-room setup at stage left, apparently settled in for Allen’s monologue. But there is no monologue. Comics Unleashed has no writers, no comic sensibility, no discernible point of view – because CBS bent the knee to Donald Trump, and Allen makes Jimmy Fallon look like Eugene Debs. Continue reading...
American presidents don’t have a stellar record of transparency about their health problems. After a polio diagnosis that caused paralysis of his lower body, Franklin Delano Roosevelt used a wheelchair to get around, but went to great lengths to conceal it from the public. John F Kennedy suffered debilitating back pain, but most Americans never had a clue, seeing only a vigorous and youthful polit...
American presidents don’t have a stellar record of transparency about their health problems. After a polio diagnosis that caused paralysis of his lower body, Franklin Delano Roosevelt used a wheelchair to get around, but went to great lengths to conceal it from the public. John F Kennedy suffered debilitating back pain, but most Americans never had a clue, seeing only a vigorous and youthful politician. And, more recently – and infamously – Joe Biden’s White House staff worked to conceal his age-related decline, until that was no longer possible. After a disastrous debate performance and belated press coverage, Biden called off his re-election bid in 2024. double quotation mark Not just for Trump, but for all those who will follow him, there should be mandatory reporting to the public on the president’s health, both physical and mental So perhaps it’s no surprise that we don’t know very much about Donald Trump’s mental and physical health, except for what we can see with our own eyes. But even that is plenty. The Atlantic’s Jonathan Lemire listed some causes of concern in his piece titled A Different Kind of Fading President. Among them: Trump’s late-night social-media storm of 50 unhinged messages; his apocalyptic threat to wipe out a civilization; the increased nastiness and frequency of insults to reporters; his appearing to fall asleep in meetings or at public events; the deep bruises on his hands; his extensive use of unstructured “executive time”, accompanied by a greatly reduced travel schedule; and the “long, odd tangents in speeches” that seem even longer and odder even than his previous tangents. “Never known for his ability to self-censor, Trump seems to have completely abandoned any sort of filter,” Lemire wrote, noting Trump’s startling celebration of former FBI director Robert Mueller’s death, and his meme widely interpreted as depicting himself as Jesus – though after a backlash he denied that was his intention. Trump, the oldest person ever elected U...
The 4thWrite prize, an annual short story competition for Black, Asian and minority ethnic writers run by publisher 4th Estate and the Guardian, has opened for submissions. The winner will receive £1,000, a one-day publishing workshop at 4th Estate and publication of their story on the Guardian website. The shortlisted stories will be published on the 4th Estate website. The prize is open to write...
The 4thWrite prize, an annual short story competition for Black, Asian and minority ethnic writers run by publisher 4th Estate and the Guardian, has opened for submissions. The winner will receive £1,000, a one-day publishing workshop at 4th Estate and publication of their story on the Guardian website. The shortlisted stories will be published on the 4th Estate website. The prize is open to writers aged 18 and over living in the UK or Ireland. This is the 10th year of the prize. Last year’s winner was Piyumi Kapugeekiyana for The Original Is Not Here. Several previous longlisted and shortlisted writers have gone on to publish books: Bolu Babalola, author of Love in Colour and Honey & Spice; Guy Gunaratne, author of In Our Mad and Furious City; Kasim Ali, author of Good Intentions; Gurnaik Johal, author of We Move; and Kit Fan, author of Diamond Hill. Past winners include Yan F Zhang for Fleeting Marrow in 2024 and Yian Yi for The Good Son in 2023. This year’s judging panel includes agent Emma Paterson of Aitken Alexander Associates, writer and journalist Chanté Joseph, novelists Sanam Mahloudji and Kamila Shamsie, 4th Estate publishing director Kishani Widyaratna and Guardian commissioning editor Ella Creamer. Johal, who was shortlisted for the prize in 2018, joins the panel this year as a guest judge to mark the anniversary. Johal said being shortlisted for the prize began his writing career. “I remember feeling emboldened to take writing seriously when I entered my short story,” he said. Shamsie described the award as “an effective spotlight” for emerging writers in the decade since it was launched, while Widyaratna called the prize “an essential part of the literary ecosystem”. Joseph said: “I know firsthand how rare it is to see your story reflected in the publishing landscape, and how much will and motivation it takes to keep pushing when you’re a person of colour in this space. It is such an honour and a privilege to be judging the 4thWrite prize.” The deadli...