Mihail3/iStock via Getty Images The semi-annual rebalancing of U.S. equities is officially underway after FTSE Russell unveiled its preliminary list of shifts for the broad-market Russell 3000 Index . Expected additions among materials stocks: McEwen Inc. ( MUX ), Alto Ingredients, Inc. ( ALTO ), Ur-Energy Inc. ( URG ), Hycroft Mining Holding Corporation ( HYMC ), and Aura Minerals Inc. ( AUGO ). ...
Mihail3/iStock via Getty Images The semi-annual rebalancing of U.S. equities is officially underway after FTSE Russell unveiled its preliminary list of shifts for the broad-market Russell 3000 Index . Expected additions among materials stocks: McEwen Inc. ( MUX ), Alto Ingredients, Inc. ( ALTO ), Ur-Energy Inc. ( URG ), Hycroft Mining Holding Corporation ( HYMC ), and Aura Minerals Inc. ( AUGO ). Expected deletions: American Vanguard ( AVD ), Ascent Industries ( ACNT ), and Solesence, Inc. ( SLSN ). This year's structural changes will officially take effect following the close of U.S. equity markets on Friday, June 26 . More on related tickers, etc. Aura Minerals Inc. 2026 Q1 - Results - Earnings Call Presentation Solesence, Inc. (SLSN) Q1 2026 Earnings Call Transcript Ur-Energy Inc. (URE:CA) Q1 2026 Earnings Call Transcript Russell Microcap Index to add materials stocks Alto Ingredients, Ur-Energy, Gold Resource Hycroft Mining set to join Russell 3000 Index in June
It has been a bad week for Michele Kang, the billionaire women’s football investor. On Wednesday the Uefa director of women’s football, Nadine Kessler, was firm on the enforcement of rules prohibiting clubs with the same owner from playing each other in European competitions, dealing a blow to Kang, who has ambitions of taking London City Lionesses into Europe’s premier competition, but also owns ...
It has been a bad week for Michele Kang, the billionaire women’s football investor. On Wednesday the Uefa director of women’s football, Nadine Kessler, was firm on the enforcement of rules prohibiting clubs with the same owner from playing each other in European competitions, dealing a blow to Kang, who has ambitions of taking London City Lionesses into Europe’s premier competition, but also owns the tournament’s most decorated side, OL Lyonnes. Then, across the weekend, Kang teams suffered two continental final defeats, with Lyonnes losing 4-0 to Barcelona in the Champions League final before her US outfit, Washington Spirit, fell short in the Concacaf W Champions Cup with a 5-3 reverse to the Mexican side Club América. Speaking to the Catalan TV channel Esport3 in Oslo on Saturday evening, the Barcelona goalkeeper Cata Coll made some pointed remarks about money in football after their emphatic victory, and her words went viral. “There has been criticism but we have shown the team we are,” she said. “Money isn’t everything. We are privileged to have La Masia and all the girls that have come up to the first team: Aïcha Cámara, Carla [Julià Martínez], [Martine] Fenger, [Clara] Serrajordi, all of them. They are incredible. It says everything and that’s why I say it.” Many have assumed it was a jab at Kang and the use of her wealth to pursue glory in women’s football, with Barcelona’s talent pipeline apparently delivering an antidote to such an approach. There have been frustrations that Kang’s teams have been sniffing at Barcelona’s door in recent years, poaching the head coach Jonatan Giráldez, who led Barça to their second and third European titles, first planting him in post at Washington Spirit before switching him this season to Lyonnes, another of her Kynisca Sports International multi-club ownership group. View image in fullscreen Michele Kang, owner of OL Lyonnes, comforts Lindsey Heaps after the defeat by Barcelona in the Women’s Champions League final. Photo...
Posts from this author will be added to your daily email digest and your homepage feed. Would you listen to magazine articles on Spotify? The streaming platform certainly hopes so, as it’s launching a new format for narrated long-form articles, alongside its usual array of music, podcasts, and audiobooks. Starting today, more than 650 articles from publications including Rolling Stone, The Atlanti...
Posts from this author will be added to your daily email digest and your homepage feed. Would you listen to magazine articles on Spotify? The streaming platform certainly hopes so, as it’s launching a new format for narrated long-form articles, alongside its usual array of music, podcasts, and audiobooks. Starting today, more than 650 articles from publications including Rolling Stone, The Atlantic, Vogue, Variety, Billboard, Vibe, GQ, Wired, Vanity Fair, and Pitchfork will be available in English in regions where Spotify’s audiobooks are available. The narrated articles are all under two hours long, and available under the monthly audiobook allowance for Premium users. Spotify says that free users who don’t pay for a subscription can also “purchase articles individually for $1.99,” though it isn’t clear if that’s a blanket fee per article, or if $1.99 will get you an articles-only subscription. We’ve reached out to Spotify to clarify. “With Articles, we’re introducing long-form journalism in audio as a natural extension of the music, podcasts, and audiobooks people already come to Spotify for, focused on topics we know they love,” Colleen Prendergast, Spotify Audiobooks licensing lead, said in a statement. “By bringing shorter form content into the mix, we’re meeting audiences where they are to help build healthy listening habits, ultimately growing engagement with books over time.” This is Spotify’s latest sidequest outside of traditional music streaming, having also recently launched a slurry of AI tools for generating daily podcasts, making audiobook playlists, and remixing existing songs from artists represented by Universal Music Group. Spotify’s announcement doesn’t mention whether these articles are narrated by AI tools, noting only that they’re produced by the in-house Spotify Audiobooks team. Spotify declined to speak on the record about any AI use for article narration when we reached out to clarify.
(RTTNews) - Champion Homes, Inc. (SKY), a leading producer of factory-built housing in North America on Tuesday announced that it has agreed to acquire the assets of 11 retail locations from Homes Direct, a manufactured home and modular home dealer on the West Coast, strengthening its presence in key Western U.S. markets including Arizona, California, Colorado, New Mexico and Oregon. The company d...
(RTTNews) - Champion Homes, Inc. (SKY), a leading producer of factory-built housing in North America on Tuesday announced that it has agreed to acquire the assets of 11 retail locations from Homes Direct, a manufactured home and modular home dealer on the West Coast, strengthening its presence in key Western U.S. markets including Arizona, California, Colorado, New Mexico and Oregon. The company did not disclose the financial terms of the transaction. The deal covers the majority of Homes Direct's operating footprint, which Champion said aligns closely with its manufacturing and distribution network in the region. Champion said the acquisition would expand its Western U.S. retail footprint and accelerate its direct-to-consumer strategy by adding high-quality retail locations near its manufacturing base. The transaction is expected to close in Champion's fiscal second quarter of 2027. All Homes Direct employees at the acquired locations will be offered employment by Champion following completion. In pre-market activity on the NYSE, shares of Champion Homes were up 2.69 percent, changing hands at $72.90, after closing Monday's regular session 2.08 percent higher. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Most income investors default to broad dividend exchange-traded funds (ETFs) for steady payout exposure. The Schwab US Dividend Equity ETF (NYSEARCA: SCHD) ended 2025 with $71.6 billion in net assets and a 0.06% expense ratio, but its yield, like that of many of its peers, is in the low-single-digit range. With the 10-year Treasury at ... Why Natural Gas Stocks Still Yield More Than Most Dividend ...
Most income investors default to broad dividend exchange-traded funds (ETFs) for steady payout exposure. The Schwab US Dividend Equity ETF (NYSEARCA: SCHD) ended 2025 with $71.6 billion in net assets and a 0.06% expense ratio, but its yield, like that of many of its peers, is in the low-single-digit range. With the 10-year Treasury at ... Why Natural Gas Stocks Still Yield More Than Most Dividend ETFs
Applied Aerospace & Defense ( AADX ) said on Tuesday that it had launched the roadshow for its proposed IPO of 32.5M common shares, expected to be priced between $18 and $21 per share, with underwriters granted a 30-day option to purchase up to an additional 4.87M shares. The company plans to use the offering proceeds to repay certain debt and fund general corporate purposes, including working cap...
Applied Aerospace & Defense ( AADX ) said on Tuesday that it had launched the roadshow for its proposed IPO of 32.5M common shares, expected to be priced between $18 and $21 per share, with underwriters granted a 30-day option to purchase up to an additional 4.87M shares. The company plans to use the offering proceeds to repay certain debt and fund general corporate purposes, including working capital, operating expenses, and capital investments. Morgan Stanley and Jefferies are serving as lead book-running managers for the proposed offering. More on Applied Aerospace & Defense Applied Aerospace & Defense Pursues IPO On M&A-Led Growth Financial information for Applied Aerospace & Defense
Russia’s key Black Sea oil export terminal, targeted by Ukrainian drones over the weekend, is loading crude, according to satellite data. All three crude berths of the Sheskharis terminal at the Black Sea port of Novorossiysk are operational, with images from satellite-imaging company Planet Labs PBC showing tankers docked at the jetties on Monday. Ongoing and stable crude flows from Novorossiysk ...
Russia’s key Black Sea oil export terminal, targeted by Ukrainian drones over the weekend, is loading crude, according to satellite data. All three crude berths of the Sheskharis terminal at the Black Sea port of Novorossiysk are operational, with images from satellite-imaging company Planet Labs PBC showing tankers docked at the jetties on Monday. Ongoing and stable crude flows from Novorossiysk could bring some relief to global markets, with the Strait of Hormuz effectively closed because of the Iran war. Russia’s oil-pipeline operator Transneft PJSC, which owns Sheskharis, didn’t immediately respond to a request for comment. Novorossiysk is Russia’s largest Black Sea port, with multiple facilities for commodity and general cargo exports. The port has been the target of numerous Ukrainian attacks, with the most recent one on Saturday . Ukraine said its forces targeted the Sheskharis terminal and the Grushovaya storage facility that supplies oil to the terminal. Russia’s regional emergency services said falling drone debris caused a fire at an oil depot in Novorossiysk, with some also falling on the local oil terminal.
gremlin/E+ via Getty Images I had positioned the NEOS Nasdaq-100 Hedged Equity Income ETF ( QQQH ) as a near-perfect way of monetizing the Nasdaq for income using options in August last year. The thesis was based on the fact that QQQH was relatively unique in its approach, hedging its Nasdaq underlying with a put spread option layer. The trade-off of the approach is obviously lower net option prem...
gremlin/E+ via Getty Images I had positioned the NEOS Nasdaq-100 Hedged Equity Income ETF ( QQQH ) as a near-perfect way of monetizing the Nasdaq for income using options in August last year. The thesis was based on the fact that QQQH was relatively unique in its approach, hedging its Nasdaq underlying with a put spread option layer. The trade-off of the approach is obviously lower net option premiums (because a large part of the call premiums received would be used to fund the put hedges) - which means lower alpha generation in flattish conditions or even a greater drag if the Nasdaq rallied sharply. QQQH's performance since then has lived up to the structure's promise and limitations. It has lagged peers and the Nasdaq in the most recent sharp rebound from the March 2026 lows. This, although expected from the setup, is far more acutely seen than I expected. On the downside, when markets corrected around March, QQQH did mitigate the pullback relatively well - but differences were not large enough to look balanced from a risk-reward perspective (considering how much opportunity it lost in the rebound rally). This recent underperformance, part expected and part underwhelming despite being expected bring to light a couple of positioning clarifications that investors need to understand. One, the near term Nasdaq outlook - that becomes important if investors are looking for near term performance and risk reward asymmetry. There the conditions do not point to a regime ahead (as we will discuss in detail subsequently) where you will see QQQH shine in comparison to the peer set. Two, QQQH's upside capture may be worse (than even what I anticipated in August) in sharp rebounds and drawdown mitigation may not be large unless the drawdown is itself very large, but its positioning as a hedged income tool still makes for a Buy case. For long term holders, QQQH's case remains as important as it was in August last year. In the very short term, I think a Buy rating is a better ref...
Eli Lilly on Tuesday announced plans to acquire three companies for almost $4 billion in cash, as it looks to expand its research and development business into infectious diseases. The company said it had agreed deals to buy Curevo, LimmaTech Biologics and Vaccine Company for $1.5 billion, $780 million and $1.55 billion, respectively. Shares of Eli Lilly rose 1.3% in premarket trading on the news....
Eli Lilly on Tuesday announced plans to acquire three companies for almost $4 billion in cash, as it looks to expand its research and development business into infectious diseases. The company said it had agreed deals to buy Curevo, LimmaTech Biologics and Vaccine Company for $1.5 billion, $780 million and $1.55 billion, respectively. Shares of Eli Lilly rose 1.3% in premarket trading on the news. "These acquisitions reflect a deliberate strategy to prevent disease at its source rather than treat its consequences," Daniel M. Skovronsky, chief scientific and product officer and president, said in a statement. This is breaking news story, please refresh for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Retiring can be a wonderful life change, but only if you're financially ready. If you quit your job too soon and don't have the money to cover your essential expenses, huge problems can result. Unfortunately, many retirees overlook some key retirement costs, so they assume they're ready to quit, but they aren't. You don't want this to happen to you, so if you're planning on giving up your job in 2...
Retiring can be a wonderful life change, but only if you're financially ready. If you quit your job too soon and don't have the money to cover your essential expenses, huge problems can result. Unfortunately, many retirees overlook some key retirement costs, so they assume they're ready to quit, but they aren't. You don't want this to happen to you, so if you're planning on giving up your job in 2026, you must be prepared for all your future expenses, including one cost that could come in at around $955,411. Don't retire without making sure you're prepared for this huge expense If you're wondering what retirement expense could cost close to $1 million, the answer is actually a pretty obvious one once you think about it. It's the cost of healthcare. According to HealthView Services' 2026 Retirement Healthcare Costs Data Report, the national average lifetime premiums for traditional Medicare are projected to total $688,996 for a healthy 65-year-old couple retiring in 2026. Those are the projected premiums for original Medicare, as opposed to Medicare Advantage plans. Traditional Medicare, unfortunately, comes with high coinsurance costs and coverage gaps, including a lack of coverage for hearing, vision, and dental care. Once the costs of those services, plus deductibles and copays, are factored in, the projected total costs of medical care for a senior couple total $955,411 during retirement. Unfortunately, despite legislative efforts to try to rein in excess spending on medical services, healthcare inflation remains a major issue. In fact, Medicare price increases are expected to far exceed Social Security cost-of-living adjustments that retirees will receive in the coming years. How can retirees prepare for these huge costs? Unsurprisingly, many people didn't factor in spending close to $1 million in healthcare costs during the retirement planning process. This means covering these expenses could cause your retirement plans to decline in value much more quickly tha...
Key Points Retirement planning requires preparing for all the essentials. Unfortunately, many retirees underestimate one particular, huge expense. You could drain your retirement plan far too quickly if this expense affects you. The $23,760 Social Security bonus most retirees completely overlook › Retiring can be a wonderful life change, but only if you're financially ready. If you quit your job t...
Key Points Retirement planning requires preparing for all the essentials. Unfortunately, many retirees underestimate one particular, huge expense. You could drain your retirement plan far too quickly if this expense affects you. The $23,760 Social Security bonus most retirees completely overlook › Retiring can be a wonderful life change, but only if you're financially ready. If you quit your job too soon and don't have the money to cover your essential expenses, huge problems can result. Unfortunately, many retirees overlook some key retirement costs, so they assume they're ready to quit, but they aren't. You don't want this to happen to you, so if you're planning on giving up your job in 2026, you must be prepared for all your future expenses, including one cost that could come in at around $955,411. 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 » Don't retire without making sure you're prepared for this huge expense If you're wondering what retirement expense could cost close to $1 million, the answer is actually a pretty obvious one once you think about it. It's the cost of healthcare. According to HealthView Services' 2026 Retirement Healthcare Costs Data Report, the national average lifetime premiums for traditional Medicare are projected to total $688,996 for a healthy 65-year-old couple retiring in 2026. Those are the projected premiums for original Medicare, as opposed to Medicare Advantage plans. Traditional Medicare, unfortunately, comes with high coinsurance costs and coverage gaps, including a lack of coverage for hearing, vision, and dental care. Once the costs of those services, plus deductibles and copays, are factored in, the projected total costs of medical care for a senior couple total $955,411 during retirement. Unfortunately, despite legislative efforts to try to rein in exces...
kentoh Wall Street banks are urging the Federal Reserve in efforts behind the scenes to engineer its new supervisory regime so that the changes can't be easily unwound by future administrations, according to a media report on Tuesday. Specifically, they are asking the U.S. central bank to formally address legal ambiguity regarding the softer process that's replacing "matters requiring attention," ...
kentoh Wall Street banks are urging the Federal Reserve in efforts behind the scenes to engineer its new supervisory regime so that the changes can't be easily unwound by future administrations, according to a media report on Tuesday. Specifically, they are asking the U.S. central bank to formally address legal ambiguity regarding the softer process that's replacing "matters requiring attention," or MRAs, Reuters reported, citing four people familiar with the matter. That would give banks surer legal footing in the long term. The Fed plans to provide more clarity, the people said. The current Fed Vice Chair for Supervision, Michelle Bowman, is leading a major overhaul of banks regulations at the Fed, saying the process has become too burdensome to banks, reducing their ability to lend to businesses and individuals. The strict rules that were put in place after the 2008 financial crisis have led banks to abandon certain kinds of financing, resulting in non-bank financial institutions, which aren't subject to the same regulations, stepping in, critics have contended. Under the new proposed regulations, the Fed would sharply curb the use of MRAs, the main tool bank examiners have used to force lenders to fix risk management and control weaknesses. Bowman has said that many MRAs were focused on small errors and weren't directly related to operational risk. In October, the Fed said it would only use MRAs for material financial risk and use "observations," which the regulator had used before 2013, to informally flag issues. The use of observations in the new regulation is legally ambiguous and doesn't explicitly explain how supervisors will respond if banks don't act on them. The banks worry that future Democratic Fed leaders may exploit that ambiguity and escalate observations to MRAs if they aren't remedied, Reuters said. In Tuesday premarket trading, the State Street SPDR S&P Bank ETF ( KBE ) slipped 0.3%. Of the biggest U.S. banks, JPMorgan Chase ( JPM ) stock rose 0....
Senior independent director Amanda Blanc said the board had been "surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action".
Senior independent director Amanda Blanc said the board had been "surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action".
核心要点 富国银行 宣布,将为采用Icon 3D 打印技术建造的住宅提供按揭贷款服务。 选择该行贷款购置Icon 3D 打印住宅的购房者,可享受 50 个基点 的贷款抵免优惠。 以往贷款机构顾虑重重:3D 建房技术的实用性、房屋升值潜力,以及相关贷款的流转与投保问题。 莱纳地产与Icon联手打造的首个 3D 打印住宅社区房源迅速售罄,规模更大的二期项目也随即启动。 得克萨斯州乔治敦市一处住宅工地内...
核心要点 富国银行 宣布,将为采用Icon 3D 打印技术建造的住宅提供按揭贷款服务。 选择该行贷款购置Icon 3D 打印住宅的购房者,可享受 50 个基点 的贷款抵免优惠。 以往贷款机构顾虑重重:3D 建房技术的实用性、房屋升值潜力,以及相关贷款的流转与投保问题。 莱纳地产与Icon联手打造的首个 3D 打印住宅社区房源迅速售罄,规模更大的二期项目也随即启动。 得克萨斯州乔治敦市一处住宅工地内的Icon 3D 打印设备 本文同步刊登于 CNBC《地产动向》资讯专栏。该专栏聚焦房地产投资领域的新兴机遇,面向个人投资者、风投机构、私募基金、家族办公室、机构投资者及大型上市公司。欢迎订阅,专栏内容将定期推送至您的邮箱。 为实现更高效、更平价的住宅建造,3D 打印建房技术日趋成熟、应用渐广,但 融资难 始终是一大阻碍。如今这一局面即将被打破。 美国大型房贷机构富国银行,携手全球头部 3D 建筑企业Icon达成合作:富国银行将正式为Icon技术打造的住宅提供按揭贷款,并推出购房激励政策。购房者办理该行房贷购买Icon 3D 打印住宅,可享受 50 个基点的贷款抵免。 多年来,Icon一直与富国银行旗下慈善分支富国银行基金会合作,运用 3D 打印技术为无家可归者搭建聚居社区。如今,富国银行正式成为在售 3D 打印住宅的 首选贷款合作方 。 富国银行住房贷款部门首席执行官塞尔哈特・厄兹托普表示:“当前住房购置成本高、置业难问题突出,Icon的技术有望降低建筑成本、加快建房速度。此次合作,将打通新技术与民众安居置业之间的壁垒。” 此前,3D 打印住宅一直难以获得传统房贷支持。贷款机构担忧该技术落地效果、房屋升值空间,也顾虑相关贷款的转让与承保风险。去年莱纳地产在得克萨斯州建成的首个 3D 打印社区,所有贷款均由莱纳自有金融部门承接。 Icon创始人兼首席执行官杰森・巴拉德表示:“我们的测试成果与实际表现早已得到验证。如今大型银行公开表态认可这类住宅,并推出优待政策,能让市场真正接纳这项技术及其建造的房屋,标志着它已迈入规模化应用阶段。” 此前市场还担忧,这类房屋的升值速度不及传统住宅,而该顾虑正逐步消散。莱纳与Icon合作的首个 3D 打印社区房源快速售罄,更大规模的新项目也在推进当中。 厄兹托普称:“我们有充分理由相信,这类住宅的长期价值,不会和传统工艺建造的房屋存在差异。”...
S&P 500 Index futures rise 0.6% as of 7:47 a.m. in New York as investors remained hopeful that the latest American strikes on Iran won’t derail talks to end the Middle East conflict. Nasdaq 100 futures are up 0.9% Dow Jones Industrial Average futures are up 0.5% The MSCI World Index is down 0.1% Here are some of the biggest US movers before the bell: Magnificent Seven stocks: Nvidia (NVDA) +1.2%, ...
S&P 500 Index futures rise 0.6% as of 7:47 a.m. in New York as investors remained hopeful that the latest American strikes on Iran won’t derail talks to end the Middle East conflict. Nasdaq 100 futures are up 0.9% Dow Jones Industrial Average futures are up 0.5% The MSCI World Index is down 0.1% Here are some of the biggest US movers before the bell: Magnificent Seven stocks: Nvidia (NVDA) +1.2%, Tesla (TSLA) +1%, Apple (AAPL) +0.6%, Amazon (AMZN) +0.4%, Alphabet (GOOGL) +0.2%, Microsoft (MSFT) +0.2%, Meta Platforms (META) +0.1% Amentum Holdings Inc. shares (AMTM) gain 0.4% after BNP Paribas initiated coverage of the engineering firm with a recommendation of underperform as it sees growth lagging peers. AutoZone shares (AZO) fall 5.6% after it reported net sales for the third quarter that missed the average analyst estimate. Booz Allen Hamilton Holding Corp. shares (BAH) are up 1.4% after Stifel upgraded the company to buy from hold. Bridgebio Pharma shares (BBIO) dip 0.8% after Raymond James downgraded the drugmaker to market perform from outperform, citing near-term headwinds. Circle Internet Group Inc. shares (CRCL) rise 0.6% after it was initiated at KeyBanc Capital Markets with a recommendation of sector weight as it sees the stablecoin issuer being a leader in the sector, however dealing with lower margins. Okta Inc. shares (OKTA) are up 2.3% after Arete upgraded the software company by two notches, to buy from sell. Pembina Pipeline Corp. (PBA) rises 0.9% after it was upgraded to buy from hold at TD Cowen on sector growth. Shares in rocket and satellite companies (RDW +16%, MDA +17%, ASTS +7%) are rallying, set to extend recent gains since SpaceX filed publicly for what stands to be the largest-ever initial public offering. Shares in semiconductor companies with exposure to Asia (WOLF +8.5%, SMTC +4%) are rallying on optimism over a potential breakthrough in technology by Huawei.
Hong Kong authorities have finally set the quota for ride-hailing service permits at 10,000 vehicles as part of their long-winding push to introduce a regulatory regime, the South China Morning Post has learned. A source said authorities would submit a consultation paper to the Legislative Council as early as late Tuesday to seek lawmakers’ feedback before gazetting the proposal later. “They belie...
Hong Kong authorities have finally set the quota for ride-hailing service permits at 10,000 vehicles as part of their long-winding push to introduce a regulatory regime, the South China Morning Post has learned. A source said authorities would submit a consultation paper to the Legislative Council as early as late Tuesday to seek lawmakers’ feedback before gazetting the proposal later. “They believe that the number of licences issued can cater to the public’s commuting needs, keeping passengers’ experience largely unchanged, while taking road carrying capacity into account,” the insider said on Tuesday. Advertisement Under the proposed regime, ride-hailing platforms must apply for licences in the third quarter for a full roll-out in the fourth quarter, with both Chief Executive John Lee Ka-chiu and Secretary for Transport and Logistics Mable Chan repeatedly stressing the importance of “dynamic assessments” when setting the quota. Uber has operated in a regulatory vacuum in Hong Kong for more than a decade, during which competitors Singapore-based Tada and mainland Chinese operators Didi Chuxing and Amap have entered the market. Advertisement Amap is operated by Alibaba Group Holding, the owner of the SCMP.