JasonDoiy/iStock Unreleased via Getty Images PayPal ( PYPL ) is called "PainPal" for a reason, the stock crashed by almost 90% in less than five years. At the height of its peak, the company traded at an 80x P/E ratio. The sky was the limit and the majority of analysts (yes, even here on SA) were bullish on the stock. That's what bull markets do to us: rising prices lead to higher expectations, wh...
JasonDoiy/iStock Unreleased via Getty Images PayPal ( PYPL ) is called "PainPal" for a reason, the stock crashed by almost 90% in less than five years. At the height of its peak, the company traded at an 80x P/E ratio. The sky was the limit and the majority of analysts (yes, even here on SA) were bullish on the stock. That's what bull markets do to us: rising prices lead to higher expectations, which attract more buyers, which leads to higher prices, which leads to greed and even higher prices. Until the cycle turns. Now trading at single-digit P/E ratios, there are still some PayPal bulls around, but you can find more "Sell" ratings now than at the peak in 2021! What has changed? PayPal has 54% higher revenues than five years ago . Adjusted free cash flow ( FCF ) is 28% higher. EPS grew by 56% for a CAGR of 9.3%. The company is trading at valuation levels usually assigned to struggling retailers, yet it keeps generating higher profits. It reminds me of Microsoft ( MSFT ) in 2012. Just like PayPal a few years ago, MSFT traded at 75x to 80x earnings in the early 2000s. Over the following nine years, the stock crashed by 75% and in 2012 the company was trading at 9x earnings. Like PayPal, MSFT grew its EPS and FCF over all those years, but the sentiment remained overly negative at its lows. MSFT was believed to be outdated, and Apple and Google were sure to eat its lunch . It was seen as a legacy tech business that missed the train. Sounds like PayPal, doesn't it? In the best case scenario, MSFT was believed to be a cash cow doomed for eternal stagnation and mediocrity. It turned out the bears were wrong. I still remember the sentiment back then, because I was one of the few bulls buying MSFT in 2012. I did not foresee the massive shift in sentiment and the accelerated earnings growth that happened in the years thereafter, far from it, but I sensed that a dominant player at a 9x to 10x P/E was a good deal. At the bottom, the sentiment is always bad. Nobody rings the b...
At the start of 2026, Social Security benefits got a 2.8% cost-of-living adjustment (COLA). But even with that boost, a lot of seniors are already falling behind. Part of the problem stems from the fact that Medicare costs rose substantially this year. The standard monthly Part B premium increased about 9.7% from last year, ... The March Fed Meeting Could Easily Deal Social Security Recipients a H...
At the start of 2026, Social Security benefits got a 2.8% cost-of-living adjustment (COLA). But even with that boost, a lot of seniors are already falling behind. Part of the problem stems from the fact that Medicare costs rose substantially this year. The standard monthly Part B premium increased about 9.7% from last year, ... The March Fed Meeting Could Easily Deal Social Security Recipients a Huge Blow
Legend Biotech press release ( LEGN ): Q4 Non-GAAP EPS of $0.01 misses by $0.18 . Revenue of $306.3M (+64.2% Y/Y) misses by $3.91M . As of December 31, 2025, Legend Biotech had approximately $949 million of cash and cash equivalents and time deposits. More on Legend Biotech Legend Biotech: Carvykti Driving Growth Amid FDA Regulatory Tailwinds Legend Biotech Corporation (LEGN) Presents at 44th Annu...
Legend Biotech press release ( LEGN ): Q4 Non-GAAP EPS of $0.01 misses by $0.18 . Revenue of $306.3M (+64.2% Y/Y) misses by $3.91M . As of December 31, 2025, Legend Biotech had approximately $949 million of cash and cash equivalents and time deposits. More on Legend Biotech Legend Biotech: Carvykti Driving Growth Amid FDA Regulatory Tailwinds Legend Biotech Corporation (LEGN) Presents at 44th Annual J.P. Morgan Healthcare Conference Transcript Legend Biotech Q4 2025 Earnings Preview Legend Biotech Arcellx rise after FDA draft guidance on multiple myeloma trials Seeking Alpha’s Quant Rating on Legend Biotech
Kohl's press release ( KSS ): Q4 Non-GAAP EPS of $1.07 beats by $0.23 . Revenue of $5.17B (-4.1% Y/Y) beats by $100M . For the full year 2026, the Company currently expects the following: Net sales and Comparable sales: A decrease of (2%) to flat vs -0.76% consensus Adjusted operating margin: In the range of 2.8% to 3.4% Adjusted diluted EPS: In the range of $1.00 to $1.60 vs $1.30 consensus Capit...
Kohl's press release ( KSS ): Q4 Non-GAAP EPS of $1.07 beats by $0.23 . Revenue of $5.17B (-4.1% Y/Y) beats by $100M . For the full year 2026, the Company currently expects the following: Net sales and Comparable sales: A decrease of (2%) to flat vs -0.76% consensus Adjusted operating margin: In the range of 2.8% to 3.4% Adjusted diluted EPS: In the range of $1.00 to $1.60 vs $1.30 consensus Capital Expenditures: Approximately $350 to $400 million Shares -10%. More on Kohl's Kohl's Yield And Improving Business Are Positives - But The Economy Is A Wild Card Wall Street Lunch: Retail Sales Stall In December As Middle And Lower-Income Consumers Hit Pause Kohl's: Comparable Store Sales Decline Slowed In 2025 Kohl's Q4 2026 Earnings Preview Top small-cap consumer discretionary stocks surging above 200-day moving average
(RTTNews) - Custom Truck One Source, Inc. (CTOS) reported a profit for fourth quarter that Dropped, from the same period last year The company's earnings came in at $20.87 million, or $0.09 per share. This compares with $27.57 million, or $0.12 per share, last year. The company's revenue for the period rose 1.4% to $528.18 million from $520.74 million last year. Custom Truck One Source, Inc. earni...
(RTTNews) - Custom Truck One Source, Inc. (CTOS) reported a profit for fourth quarter that Dropped, from the same period last year The company's earnings came in at $20.87 million, or $0.09 per share. This compares with $27.57 million, or $0.12 per share, last year. The company's revenue for the period rose 1.4% to $528.18 million from $520.74 million last year. Custom Truck One Source, Inc. earnings at a glance (GAAP) : -Earnings: $20.87 Mln. vs. $27.57 Mln. last year. -EPS: $0.09 vs. $0.12 last year. -Revenue: $528.18 Mln vs. $520.74 Mln last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Many Hong Kong-based family offices are planning to add exposure to private equity and digital assets over the next three years, according to a report commissioned by local authorities. Interest from wealthy families in those assets, alongside private credit and venture capital, are expected to “rise notably,” the Hong Kong Institute for Monetary and Financial Research (HKIMR) wrote on Tuesday. Ho...
Many Hong Kong-based family offices are planning to add exposure to private equity and digital assets over the next three years, according to a report commissioned by local authorities. Interest from wealthy families in those assets, alongside private credit and venture capital, are expected to “rise notably,” the Hong Kong Institute for Monetary and Financial Research (HKIMR) wrote on Tuesday. Hong Kong has sought to encourage more wealthy individuals and their families to anchor their investments in the city, as it aims to be the link between mainland China and global markets. The number of single-family offices based in the financial hub rose to 3,384 by the end of last year, a 25% increase from 2023, according to a Deloitte survey commissioned by the Hong Kong government released last month. The digital asset market is “growing, but still at an early stage,” Giorgio Valente , Head of the Hong Kong Institute for Monetary and Financial Research, said at a briefing on Tuesday. “Many long-term investors, including family offices, are watching this space and reassessing their positioning.” The report is based on a survey of 101 entities, including single and multiple family offices between October 2024 and April 2025. About 44% managed at least $1 billion. Their wealth mostly originated from Hong Kong, mainland China and other parts of Asia. Asia’s Rich Having Second Thoughts on Dubai as War Rages Hong Kong Family Offices Jump 25% to 3,384 in Wealth Hub Boost Hong Kong Billionaire Family Office Backs $100 Million AI Fund
COCONUT CREEK, Fla., March 10, 2026 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), the leading lessor of commercial aircraft engines and global provider of aviation services, today announced its financial results for the year ended December 31, 2025. 2025 Highlights (All metrics compared to 2024, except if noted) Record high annual total revenue of $...
COCONUT CREEK, Fla., March 10, 2026 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), the leading lessor of commercial aircraft engines and global provider of aviation services, today announced its financial results for the year ended December 31, 2025. 2025 Highlights (All metrics compared to 2024, except if noted) Record high annual total revenue of $730.2 million, an increase of 28.3% Record high pre-tax income of $160.6 million, an increase of 5.2% Record high lease rent revenue of $291.6 million, an increase of 22.4% Record high maintenance reserve revenue of $232.0 million, an increase of 8.4% Record high spare parts and equipment sales of $95.5 million, an increase of 252.3% Record high gain on sale of leased equipment of $54.0 million, an increase of 19.9% Record high net income attributable to common shareholders of $108.1 million, an increase of 3.5% Adjusted EBITDA of $459.1 million, an increase of 16.6% Average portfolio utilization increased to 84.9% for 2025, compared to 82.9% Total revenue was $730.2 million for 2025, up 28.3% as compared to $569.2 million for 2024. For 2025, core lease rent and maintenance reserve revenues were $523.6 million in the aggregate, up 15.8% as compared to $452.1 million for 2024. The growth was predominantly driven by core lease and maintenance revenues associated with the continued strength of the aviation marketplace, as airlines leverage the Company’s extensive portfolio of in-demand engines as well as our parts and maintenance capabilities to avoid protracted, expensive engine shop visits. “Our 2025 results were strong,” said Austin C. Willis, Chief Executive Officer of WLFC. “Equally important however were the strategic initiatives and capital markets activities that we put in place to foster long term growth.” 2025 Operating Results Lease rent revenue increased by $53.4 million, or 22.4%, to $291.6 million in 2025 from $238.2 million in 2024. The increase is primarily due...
Received FDA clearance of Investigational New Drug application (IND) for PRT12396, mutant-selective JAK2V617F inhibitor in the first quarter of 2026 Phase 1 study of PRT12396 in patients with polycythemia vera and myelofibrosis anticipated to initiate by Q2 2026 Preclinical development and IND enabling studies for PRT13722, highly-selective oral KAT6A degrader underway, and the Company intends to ...
Received FDA clearance of Investigational New Drug application (IND) for PRT12396, mutant-selective JAK2V617F inhibitor in the first quarter of 2026 Phase 1 study of PRT12396 in patients with polycythemia vera and myelofibrosis anticipated to initiate by Q2 2026 Preclinical development and IND enabling studies for PRT13722, highly-selective oral KAT6A degrader underway, and the Company intends to file the IND for PRT13722 in mid-2026 with Phase 1 study initiation anticipated in the 2nd half of 2026 Current cash runway expected into second quarter of 2027 with $106 million in cash, cash equivalents, restricted cash and marketable securities as of December 31, 2025 WILMINGTON, Del., March 10, 2026 (GLOBE NEWSWIRE) -- Prelude Therapeutics Incorporated (Nasdaq: PRLD), a clinical-stage precision oncology company, today reported its financial results for the full year ended December 31, 2025 and provided an update on its R&D pipeline and other corporate developments. “Since the announcement of our strategic shift in November of 2025, our team continues to operate with a clear focus on steady execution on our JAK2V617F inhibitor and KAT6 degrader programs, most recently evidenced by the timely clearance of the IND for PRT12396.” stated Kris Vaddi, Ph.D., Chief Executive Officer of Prelude. “We continue to remain on track to have both PRT12396 and PRT13722 in clinical development this year, which will position the Company for potential key data catalysts from both of these potentially differentiated modalities in 2027.” Program Updates and Upcoming Milestones Mutant selective JAK2V617F JH2 inhibitor program JAK2V617F is the primary driver mutation responsible for disease progression in the majority of patients living with myeloproliferative neoplasms (MPNs). The mutation impacts approximately 95% of patients with polycythemia vera (PV), 60% of patients with essential thrombocythemia (ET) and 55% of patients with myelofibrosis (MF). Identifying JAK2 JH2 inhibitors that selec...
Methanex (MEOH) shares ended the last trading session 6.4% higher at $53.01. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.5% gain over the past four weeks. Optimism over favorable methanol industry conditions underpinned by healthy demand for methanol in energy applications in China is driving the st...
Methanex (MEOH) shares ended the last trading session 6.4% higher at $53.01. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.5% gain over the past four weeks. Optimism over favorable methanol industry conditions underpinned by healthy demand for methanol in energy applications in China is driving the stock higher. Higher average realized methanol prices are also likely to support first-quarter 2026 profits. This methanol supplier is expected to post quarterly earnings of $0.92 per share in its upcoming report, which represents a year-over-year change of -29.2%. Revenues are expected to be $1.02 billion, up 13.7% from the year-ago quarter. While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. For Methanex, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MEOH going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Methanex is a member of the Zacks Chemical - Diversified industry. One other stock in the same industry, LyondellBasell (LYB), finished the last trading session 0.4% lower at $66.82. LYB has returned 21.8% over the past month. LyondellBasell's consensus EPS estimate for the upcoming report has changed -21.5% over the past month to $0.26. Compared to the company's year-ago EPS, this represents a change of -21.2%. LyondellBasell currently boasts a Zacks Rank of #3 (Hold). Beyond Nvidia: AI's Second Wave Is Here The AI revolution has alrea...
TORONTO, March 10, 2026 (GLOBE NEWSWIRE) -- Xanadu Quantum Technologies Inc. (“ Xanadu ”), a leading photonic quantum computing company, today announced a major step forward in bringing quantum computing closer to real-world aerospace and engineering applications by leveraging AMD HPC and AI technologies. By combining Xanadu’s PennyLane quantum software with AMD high-performance computing solution...
TORONTO, March 10, 2026 (GLOBE NEWSWIRE) -- Xanadu Quantum Technologies Inc. (“ Xanadu ”), a leading photonic quantum computing company, today announced a major step forward in bringing quantum computing closer to real-world aerospace and engineering applications by leveraging AMD HPC and AI technologies. By combining Xanadu’s PennyLane quantum software with AMD high-performance computing solutions on the AMD DevCloud, Xanadu successfully demonstrated how advanced aerospace simulations can be prepared and run in a hybrid quantum-classical environment. Aerospace engineers rely on computational fluid dynamics (CFD) simulations to optimize design and enhance aircraft efficiency. Xanadu, powered by the AMD DevCloud, has successfully demonstrated CFD simulations within a hybrid quantum-classical program, showcasing the significant potential of quantum computing for the industry. The work centered on the compilation and execution of a CFD model with 256x256 matrix elements. This hybrid program utilized 20 qubits and approximately 35 million quantum gates, pushing the boundaries of current CFD quantum simulations. As the industry advances toward fault-tolerant quantum computing, the ability to compile and optimize programs of this scale will become a critical competitive advantage. This milestone demonstrates that Xanadu and AMD can support next-generation quantum-classical applications by combining their respective technologies and expertise, helping transition quantum computing from research environments toward industrial use in aerospace and engineering. “Seeing AMD high-performance compute boost the performance of PennyLane is a clear proof point of how quantum and classical technologies can effectively work together,” said Madhu Rangarajan, Corporate Vice President, Compute and Enterprise AI, AMD. “This work further underscores the importance of seamless integration between classical and quantum computing. The work between AMD and Xanadu expands the boundaries of what...
Getty Images Listen below or on the go via Apple Podcasts and Spotify TSMC Jan-Feb r evenue rises 30% amid strong global AI demand. (00:13) Archer ( ACHR ) accuses Joby ( JOBY ) of defrauding U.S. government, hiding China ties in countersuit. (01:14) FAA ends ground stop on JetBlue Airways ( JBLU ) flights. (02:26) This is an abridged transcript. Taiwan Semiconductor Manufacturing ( TSM ) on Tuesd...
Getty Images Listen below or on the go via Apple Podcasts and Spotify TSMC Jan-Feb r evenue rises 30% amid strong global AI demand. (00:13) Archer ( ACHR ) accuses Joby ( JOBY ) of defrauding U.S. government, hiding China ties in countersuit. (01:14) FAA ends ground stop on JetBlue Airways ( JBLU ) flights. (02:26) This is an abridged transcript. Taiwan Semiconductor Manufacturing ( TSM ) on Tuesday reported combined revenue of NT$718.91 billion ($22.6B) for January-February 2026, up roughly 30% from the same period a year earlier , driven by continued global investment in AI technologies. For February alone, revenue came in at roughly NT$317.66 billion ($10B), down 20.8% from January but up 22.2% from a year ago. TSMC, which produces chips for some of the world's largest tech companies, including Apple ( AAPL ), Nvidia ( NVDA ), and AMD ( AMD ), last week said it does not expect any significant impact currently from the U.S.-Israel-Iran conflict, and continues to closely monitor the situation. TSM closed 2.9% higher on Monday and is up 1.1% in premarket action. Archer Aviation ( ACHR ) on Monday filed a countersuit accusing Joby Aviation ( JOBY ) of defrauding the U.S. government and concealing ties to China to gain a competitive advantage. In the filing in U.S. federal court, Archer alleged that Joby and its agents “fraudulently misclassified thousands of pounds of Chinese-origin aircraft materials as consumer goods” in an apparent attempt to avoid U.S. tariffs and foreign-influence scrutiny . The countersuit comes after Joby ( JOBY ) sued Archer ( ACHR ) in California state court in November, accusing the company of stealing trade secrets. Archer hired a former Joby employee who allegedly took confidential information about its business strategies, partnerships, and aircraft specifications. The case was moved to U.S. district court in December. Archer ( ACHR ) also alleged that Joby received grants and financial support from the Chinese government. The counters...
Polymarket is enlisting firms including Palantir Technologies Inc. to help police its sports contracts, according to people familiar with the matter, a move that comes as prediction markets face intense scrutiny over insider trading. Palantir and TWG AI will help Polymarket identify, prevent and report suspicious activity, said the people, who asked not to be identified because the information isn...
Polymarket is enlisting firms including Palantir Technologies Inc. to help police its sports contracts, according to people familiar with the matter, a move that comes as prediction markets face intense scrutiny over insider trading. Palantir and TWG AI will help Polymarket identify, prevent and report suspicious activity, said the people, who asked not to be identified because the information isn’t public yet. Measures include screening against existing lists of participants already banned from sports betting, the people said. The monitoring system will be used on a US-regulated venue that Polymarket is building out, one of the people said. Its main trading platform is situated offshore and does not accept US-based customers. Polymarket and its main rival Kalshi have seen trading volumes explode since last year, driven in large part by sports-related contracts. But questions have arisen over how to monitor and prevent insider trading on everything from elections to geopolitics and sports. In recent years, professional sports leagues including Major League Baseball and the National Basketball Association have grappled with players allegedly colluding with gamblers, and critics say prediction markets are another venue where people with inside information may seek to profit. Up to now, Polymaket had been relatively quiet about how it handles insider trading and other forms of market manipulation. But the exchange founded by Shayne Coplan has been working with IC360, a compliance company that flags unusual betting activity in sports and gaming, people have said. Read More: Kalshi and Other Prediction Markets Should Scare Sports Leagues Kalshi has been more vocal. It recently brought two insider trading cases to its regulator, the Commodity Futures Trading Commission. It also formed a committee that will put out quarterly statistics on flagged trades, investigations and cases referred to the government. The rival prediction markets came under scrutiny in recent weeks ov...
(Bloomberg) — Polymarket (POLA.PVT) is enlisting firms including Palantir Technologies Inc. (PLTR) to help police its sports contracts, according to people familiar with the matter, a move that comes as prediction markets face intense scrutiny over insider trading. Palantir and TWG (TWG) AI will help Polymarket identify, prevent and report suspicious activity, said the people, who asked not to be ...
(Bloomberg) — Polymarket (POLA.PVT) is enlisting firms including Palantir Technologies Inc. (PLTR) to help police its sports contracts, according to people familiar with the matter, a move that comes as prediction markets face intense scrutiny over insider trading. Palantir and TWG (TWG) AI will help Polymarket identify, prevent and report suspicious activity, said the people, who asked not to be identified because the information isn’t public yet. Measures include screening against existing lists of participants already banned from sports betting, the people said. Most Read from Bloomberg The monitoring system will be used on a US-regulated venue that Polymarket is building out, one of the people said. Its main trading platform is situated offshore and does not accept US-based customers. Polymarket and its main rival Kalshi have seen trading volumes explode since last year, driven in large part by sports-related contracts. But questions have arisen over how to monitor and prevent insider trading on everything from elections to geopolitics and sports. In recent years, professional sports leagues including Major League Baseball and the National Basketball Association have grappled with players allegedly colluding with gamblers, and critics say prediction markets are another venue where people with inside information may seek to profit. Up to now, Polymaket had been relatively quiet about how it handles insider trading and other forms of market manipulation. But the exchange founded by Shayne Coplan has been working with IC360, a compliance company that flags unusual betting activity in sports and gaming, people have said. Bloomberg Kalshi has been more vocal. It recently brought two insider trading cases to its regulator, the Commodity Futures Trading Commission. It also formed a committee that will put out quarterly statistics on flagged trades, investigations and cases referred to the government. The rival prediction markets came under scrutiny in recent weeks over...
China’s leading semiconductor executives are calling for a nationwide effort to create a homegrown alternative to ASML Holding N.V. as U.S. restrictions tighten on advanced chip tools. Call For Domestic EUV Ecosystem In an article published in Science and Technology Review, executives from Semiconductor Manufacturing International Corporation (SMIC), Empyrean, Yangtze Memory Technologies (YMTC), a...
China’s leading semiconductor executives are calling for a nationwide effort to create a homegrown alternative to ASML Holding N.V. as U.S. restrictions tighten on advanced chip tools. Call For Domestic EUV Ecosystem In an article published in Science and Technology Review, executives from Semiconductor Manufacturing International Corporation (SMIC), Empyrean, Yangtze Memory Technologies (YMTC), and Naura Technology, along with academics, argued that China’s chip sector remains too small, fragmented, and weak, dispersing public resources and slowing progress. Don't Miss: The authors said U.S. restrictions have targeted three key areas of China’s semiconductor industry: electronic design automation (EDA) tools used for chip design, silicon wafers, and manufacturing equipment—particularly extreme ultraviolet (EUV) lithography, a technology dominated by ASML, which cannot export EUV machines to China, SCMP reported on Thursday. Industry Fragmentation They stressed that China must coordinate financial and human resources nationwide to build its own EUV ecosystem and strengthen capabilities in EDA and wafer production, with the effort expected to continue through the 15th Five-Year Plan, which ends in 2030. The article also noted that China’s semiconductor industry remains highly fragmented, with over 100 EDA developers, about 3,600 chip designers, and more than 180 wafer-equipment companies, highlighting the need for stronger collaboration and consolidation across the sector. Trending: Before the IPO: How One Company Quietly Locked Up 500+ Iconic Character Rights ASML Moves Beyond EUV Meanwhile, ASML is charting a new course in the chipmaking industry by venturing into advanced packaging solutions for artificial intelligence (AI) chips. Recently, the company revealed plans to integrate AI into its existing and future operations, aiming to enhance the performance and speed of its tools, which are critical for producing cutting-edge AI processors. Chief Technology Officer...
China’s surge in crude imports early this year has strengthened its stockpiles against a backdrop of rising Middle East tensions and global supply risks. China imported 96.93 million tonnes of crude in January and February, up 15.8 per cent from the same period in 2025, according to customs data released on Tuesday. The value of those imports, meanwhile, fell 5.2 per cent from last year in US doll...
China’s surge in crude imports early this year has strengthened its stockpiles against a backdrop of rising Middle East tensions and global supply risks. China imported 96.93 million tonnes of crude in January and February, up 15.8 per cent from the same period in 2025, according to customs data released on Tuesday. The value of those imports, meanwhile, fell 5.2 per cent from last year in US dollar terms. “China was accumulating oil and gas stockpiles [earlier this year], with the market expecting the US to strike Iran,” said Chim Lee, senior analyst at the Economist Intelligence Unit. “It built on the record-breaking strong stockpiling momentum we saw in 2025.” Advertisement Since US-Israeli airstrikes on Iran began on February 28, commercial traffic in the Strait of Hormuz - a critical oil artery south of Iran through which about one-fifth of the global supply passes - has largely come to a standstill. The escalating regional conflict has spilled over into other Gulf nations, forcing key refineries in countries such as Saudi Arabia and Iraq to scale back crude production. Advertisement While highly exposed to Middle Eastern oil, China has built a substantial stockpile - which Lee estimated to be around 120 days of import cover - that provides a buffer against potential supply shocks.
China has lowered the operational cost of an anti-drone high-power microwave (HPM) system to just a few yuan per shot, making it a cost-effective option for policing applications, according to a state media report. The launch of an urban police anti-drone swarm microwave defence system marked a further reduction in cost and increased accessibility of HPM technology as it expanded into civilian app...
China has lowered the operational cost of an anti-drone high-power microwave (HPM) system to just a few yuan per shot, making it a cost-effective option for policing applications, according to a state media report. The launch of an urban police anti-drone swarm microwave defence system marked a further reduction in cost and increased accessibility of HPM technology as it expanded into civilian applications, state broadcaster CCTV said on Saturday. Developed by state-owned 081 Electronics Group, the system integrates radar, electro-optical and radio detection systems with a large flat-panel antenna that elevates and rotates, mounted on an eight-wheel truck. Advertisement The system can “soft kill” incoming drones by jamming or use high-power microwaves for a “hard kill”, instantly overheating and melting the internal chips and metal circuitry for an immediate crash. Drones have increasingly emerged as a source of unconventional public security challenges. For instance, there have been widely reported incidents around the world of the devices being used to drop food or drugs into prisons. In 2018, Chinese authorities uncovered smuggling rings that were using drones to transport an estimated 500 million yuan (US$72 million) worth of illicit electronic goods across the Hong Kong-Shenzhen border.
When Mojtaba Khamenei was named Iran’s new supreme leader, many observers reacted with surprise. For decades, the son of Ayatollah Ali Khamenei had been a shadowy figure in Iranian politics, rarely seen in public and almost never heard speaking. He has never given interviews, has held no elected office and appears publicly only on rare ceremonial occasions. Even among political insiders, knowledge...
When Mojtaba Khamenei was named Iran’s new supreme leader, many observers reacted with surprise. For decades, the son of Ayatollah Ali Khamenei had been a shadowy figure in Iranian politics, rarely seen in public and almost never heard speaking. He has never given interviews, has held no elected office and appears publicly only on rare ceremonial occasions. Even among political insiders, knowledge of his views is fragmentary. What little is known about him consists of scattered anecdotes: brief involvement in the Iran-Iraq war as a young man, occasional appearances in political circles and a long association with figures inside Iran’s security establishment. And yet, at one of the most consequential moments in the Islamic Republic’s history, he has been chosen to lead it. The decision tells us less about Mojtaba Khamenei himself than about the wartime logic now shaping Iran’s ruling system. His selection sends a message of defiance to the US and Israel. After the assassination of Iran’s supreme leader and members of his family in the opening phase of the US-Israel war, the Islamic Republic has chosen continuity over uncertainty. The symbolism is unmistakable: the state will survive the killing of its leader and will continue to be led by a Khamenei. But beneath that symbolic message lies a deeper institutional reality about how power actually works in Iran. The Islamic Republic was founded on explicit rejection of hereditary rule. Ayatollah Ruhollah Khomeini, who led the 1979 revolution, denounced monarchy as “abhorrent to Islam”, and the new system defined itself in opposition to the dynastic politics of Iran’s past. For decades, the idea that the supreme leadership might pass from father to son was widely seen as politically dangerous. Even Ali Khamenei himself reportedly dismissed the possibility. Under normal circumstances, Mojtaba Khamenei would therefore have been an unlikely choice. His public profile is minimal, and he lacks the scholarly reputation traditio...
From energy to food, all of life’s essentials are about to get even more expensive. But just knowing that won’t pay the bills As soon as the attacks on Iran started, the warnings commenced: “Get ready for price shocks. Get ready for the oil price to spike. Oh, no need to get ready – it’s already hit $100 a barrel . Get ready for Russia to claw some circuitous but massive advantage from the fact th...
From energy to food, all of life’s essentials are about to get even more expensive. But just knowing that won’t pay the bills As soon as the attacks on Iran started, the warnings commenced: “Get ready for price shocks. Get ready for the oil price to spike. Oh, no need to get ready – it’s already hit $100 a barrel . Get ready for Russia to claw some circuitous but massive advantage from the fact that everything is on fire, get ready for energy bills to go up.” By about day five, experts were explaining how to lock in your current tariff except, whoops, given the global instability, those tariffs were no longer available. If it felt mercenary to worry about your unit price as people were dying, that’s because it was; but considerations of human decency and proportionality aren’t going to arrest the trajectory of life getting more expensive. Get ready for everything to feed into everything else: rising petrol prices to lead to food inflation, food inflation to lead to stuff inflation. Get ready for wages to be unequal to the cost of living, get ready not to complain about it because you’re lucky to have a wage. Get ready for stock exchanges to crash, get ready to not be entirely sure what scale of economic disaster you’re looking at. Continue reading...